Most Important News

1. US-Iran talks stall as Trump alters deal, signing postponed;
2. Saudi non-oil exports surge 19% to $97 billion in 2025;
3. Musk denies SpaceX lowered IPO valuation;

At the close of 31/5/2026, the Tadawul All Shares Index(TASI.SA) increased by 0.46%, closing at 11077.91 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 0.11%, closing at 22931.51 points.

As of Friday’s close, the S&P 500 index(SPX.US) increased by 0.22%, the NASDAQ(IXIC.US) rose by 0.20%, and the Dow Jones Industrial Average(DJI.US) increased by 0.72%.

Saudi non-oil exports surge 19% to $97 billion in 2025

Saudi Arabia’s non-oil exports—including re-exports—rose 18.9% to $97 billion in 2025, driven by a 64% jump in re-exports, according to GASTAT. Chemical products and machinery were the top export categories. Non-oil exports now make up 38.5% of total imports, up from 35.3%. China remained Saudi Arabia’s top trade partner. Overall, oil’s share of exports fell to 68.7% as oil exports declined 4%. Leading export and import hubs included the ports and airports in Jeddah, Dammam, and Riyadh.

US-Iran talks at a critical impasse! Trump changes deal terms, signing delayed again

Trump suggested changes to the Iran deal last Friday, mainly demanding stricter handling of Iranian nuclear material. The White House said Trump would only sign a deal that benefits the US and permanently blocks Iran from getting nuclear weapons. Iran needs about three days to respond, and finalizing the agreement could take a week or longer.

Analysts say Trump’s tougher terms may be a tactic to pressure Iran into accepting the original deal framework. However, any changes could cause further delays. Iranian sources say Iran may propose new revisions to the memorandum text.

TrendForce sharply raises storage market forecast: 2027 set to exceed $1.28 trillion

TrendForce has increased its 2026 global storage market estimate to $889.3 billion (from $551.6 billion), and its 2027 estimate to over $1.28 trillion (from $842.7 billion), implying a 44% annual growth rate. The surge reflects booming AI infrastructure demand. With accelerated cloud spending and limited chip production, supply shortages are likely to persist and support price growth through 2027.

KSA Stocks

Saudi Steel Pipe Wins SAR 65M Aramco Contract

Saudi Steel Pipe Co.(1320.SA) signed a SAR 65 million contract with Saudi Aramco on May 31, 2026, to supply oil and gas steel pipes over 12 months. Financial impacts are expected in Q2 2027.

UAQ Wins SAR 6 Billion Hindawiya Development Projects

Umm Al Qura for Development and Construction Co.(4325.SA) and partners secured SAR 6 billion in contracts for developing Hindawiya West and South near Masar Destination in Makkah, covering over 1.1 million sq m. UAQ leads the consortium; financial impact will be determined as the project progresses.

USA Stocks

Musk denies SpaceX lowered IPO valuation

Elon Musk refuted reports of SpaceX cutting its IPO target from over $2 trillion to $1.8 trillion. Despite debate, it could still be the largest IPO ever. Critics say Musk’s valuation is narrative-driven, not based on fundamentals, and point to governance concerns as he holds 80% voting power and multiple top roles.

Nvidia CEO to Unveil New AI and Windows PC Breakthroughs at GTC Taipei

At GTC Taipei 2026 (June 1-4), NVIDIA Corporation(NVDA.US) CEO Jensen Huang will deliver a keynote on June 1, revealing major AI advances, including the new Rubin platform to succeed Blackwell. Ahead of ComputeX, Nvidia, Microsoft Corporation(MSFT.US), and Arm teased "A new era of PC." Sources say Nvidia and Microsoft will debut the world’s first Windows PC powered mainly by Nvidia chips this week.