Most Important News

1. Trump: Second Phase of US-Iran Talks Will Be Easier;
2. Fad International Approves SAR 6M Cash Dividends;
3. SpaceX Acquires AI Coding Tool Cursor for $60 Billion in All-Stock Deal;

At the close of 16/6/2026, the Tadawul All Shares Index(TASI.SA) increased by 0.45%, closing at 11145.55 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 1.03%, closing at 23221.15 points.

As of Tuesday’s close, the S&P 500 index(SPX.US) decreased by 0.57%, the NASDAQ(IXIC.US) fell by 1.15%, and the Dow Jones Industrial Average(DJI.US) increased by 0.64%.

US-Iran Peace Deal Draft Revealed: Immediate Oil Exports & $300B Rebuilding Fund

Bloomberg reports the US-Iran deal draft includes lifting restrictions on Iranian oil exports, unfreezing overseas assets, and providing at least $300 billion in reconstruction funding with regional partners.

Trump: Second Phase of US-Iran Talks Will Be Easier

At the G7 summit in France, President Trump said US-Iran talks have entered a second phase, which he expects to be smoother than the first. While the US will not provide direct financial support to Iran, economic incentives are planned as part of the agreement. Trump noted a memorandum of understanding has been signed online, and a press conference and congressional review will follow.

Brent Crude Falls Over 5%, Drops Below $80 for First Time in 3 Months

A US-Iran deal to reopen the Strait of Hormuz shook global oil markets, driving Brent crude prices to a three-month low. Brent August futures fell 5% to $78.96 per barrel. Goldman Sachs and Morgan Stanley lowered their oil price forecasts, as market expects oversupply.

Central Banks Boost Gold Reserves Amid Geopolitical Risks; Not a Move Away from Dollar

A World Gold Council survey shows record demand for gold among central banks, especially as Middle East tensions rise. Analysts emphasize this is about diversifying reserves, not replacing the dollar. Gold's strategic role is growing for risk management and stability, even as consumer demand slips due to high prices.

Fed Chair Walsh May Refuse to Give Dot Plot Forecast, Breaking 14-Year Tradition

According to CNBC, new Fed Chair Walsh is expected to skip submitting his interest rate forecast in the dot plot, a move that would break with 14 years of Fed tradition. Walsh has criticized dot plots and forward guidance, arguing they limit decision-making. This aligns with his pledge for major reforms, but may distance him from other Fed officials who support this practice.

KSA Stocks

Fad International Approves SAR 6M Cash Dividends

Fad International Co.(9589.SA)’s June 16 AGM in Jeddah approved a SAR 6 million cash dividend (SAR 5 per share, 50% of capital) for 2025, to be paid from June 25, 2026. Other resolutions included appointing Ernst & Young as auditor, board compensation, and related-party deals with Femi Nine Bahrain and Fad China.

Aljazira Takaful Approves SAR 26.4M Cash Dividend

Aljazira Takaful Taawuni Co.(8012.SA)’s AGM approved a SAR 26.4 million cash dividend (SAR 0.40 per share, 4% of nominal value) for 2025, with payments starting June 30, 2026. Other resolutions included appointing two auditors, board remuneration, and related-party transactions with Bank AlJazira and AlJazira Capital.

USA Stocks

SpaceX Acquires AI Coding Tool Cursor for $60 Billion in All-Stock Deal

SpaceX(SPCX.US) has signed a merger agreement to acquire Anysphere, developer of AI coding tool Cursor, in an all-stock deal valuing Cursor at $60 billion. Cursor shareholders will receive SpaceX shares; no cash will be exchanged. The merger is expected to close in Q3 2026, pending regulatory approval.

SpaceX Shares Surge 49% After IPO

SpaceX(SPCX.US) stock jumped 49% after IPO, making it one of the most valuable companies globally. However, its 2025 revenue was $18.7 billion, much less than Microsoft Corporation(MSFT.US) and Amazon.com, Inc.(AMZN.US). Stock options are now trading.

Google Launches Android 17 with New AI Features

Alphabet Inc. Class A(GOOGL.US) unveiled Android 17, featuring major improvements in multitasking, social video creation, and gaming. Some highly anticipated AI features will roll out in coming months, first on Pixel devices and later to other phones. The update also prepares for agentic AI, launching later this year.