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US Markets

UAE's OPEC Exit to Have Limited Near-term Impact, Watchers Say

The United Arab Emirates' impending exit from the Organization of the Petroleum Exporting Countries on Friday deals a heavy blow to the oil-producing cartel but is unlikely to lead to a breakup of the group or have a significant near-term impact on crude prices, industry watchers say.The timing of the UAE's departure from OPEC and OPEC+ was planned well, ING analysts said Wednesday, noting that announcing the move amid a period of significant oil supply disruptions cushions its market impact. "Had this been announced any other time, we would likely have seen more downward pressure on oil prices."The UAE has long pushed for greater crude production but was trumped by OPEC production quotas in recent years. The departure will give the country freedom to boost output, with current production capacity of nearly 4.9 million barrels per day and plans to reach 5 mb/d by 2027."However, before this can be tapped, there must be a resolution in the Persian Gulf that allows for uninhibited energy flows through the Strait of Hormuz once again," ING added. "Therefore, in the short term, this development has little impact on the market. But in the medium to longer term, it means more supply for the market."As OPEC's 11 other members have not shown signs of following in the UAE's footsteps, analysts agree that the cartel will remain, albeit with reduced power in the oil market."While much remains in the air regarding how the war ends, we do not think that [Tuesday's] announcement portends a broader breakup in the producer group, especially as there is no near-term need for any OPEC production cuts and many members will be focused on building back capacity post-conflict," RBC Capital Markets said Tuesday.The exit is also likely a harbinger of joint investments between the UAE and Israel, signaling a "broader strategic realignment in the region," RBC said."Given there will be increased focus on energy security post-war, we anticipate a closer partnership between Israel and Abu Dhabi in this arena going forward. We will be looking for joint investment announcements around critical de-risking infrastructure projects as well as additional defense cooperation agreements, including core priority areas such as the Red Sea."

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Asia Markets

Tadawul Shares Close Higher; Saudi Arabia to Host GCC Summit for Iran-US War Discussions

Saudi Exchange-traded shares closed Tuesday higher, with the Tadawul All Share Index 0.10% in the green as investors assessed the latest updates of the Iran-US conflict.A US official said that President Donald Trump was "unhappy" with Iran's proposal, which recommended shelving the nuclear discussions until the blockade issue in the Strait of Hormuz is resolved."The Wall Street Journal have reported overnight that Trump and his officials are sceptical of Iran's offer (that we mentioned yesterday) to reopen the Strait of Hormuz while leaving nuclear negotiations for later. The WSJ report suggested that the White House is likely to offer Tehran a counterproposal in the coming days. Earlier yesterday, White House Press Secretary Leavitt said that Trump had discussed Iran's proposal with his national security officials on Monday morning and maintained 'red lines' on any deal to end the war," Deutsche Bank Research said in a note.Further to this, Saudi Arabia will hold a summit with the leaders of the Gulf Cooperation Council in Jeddah. The talks will focus on forming a response to Iran's attacks in the regions.On the corporate front, Saudi Ground Services Co. (SASE:4031) secured a five-year contract to deliver passenger boarding bridge services at the King Khalid International Airport in Riyadh. Shares of the passenger and aircraft ground-handling services company closed 0.06% higher.Meanwhile, the kingdom is expected to cut the Asia-bound prices per barrel for its flagship Arab Light crude in June by $5 to $12 per barrel, Reuters reported, citing a survey of Asian refining sources. The reported move was attributed to the cooling demand for crude.

^TASISASE:4031
Equities

Saudi Arabia Could Lower June Crude Prices to Asia Amid Slower Demand

Saudi Arabia may trim its June official crude selling prices to Asia from May levels, amid easing spot premiums and softer demand, Reuters reported Tuesday, citing a survey of industry sources.The survey indicated that the price for Arab Light crude in June could be lowered to a premium of $7.50 per barrel to $14.50 per barrel above the average Dubai and Oman benchmarks, which would translate to a $5 per barrel to $12 per barrel drop from official selling prices in May.

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Asia Markets

Tadawul Shares Extend Winning Streak as Fed Week Starts

Saudi Exchange-traded shares closed higher as investors turned their attention to the latest earnings by Saudi Arabian companies and the US Federal Reserve's highly anticipated interest rate decision on Wednesday.At the close of Monday trading, the Tadawul All Share Index closed in the green at 0.42%. Both Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, and Saudi Kayan Petrochemical (SASE:2350) led the charge at 9.96% at closing.The Fed is widely expected to keep the interest rates steady at its 3.50% to 3.75% range, with market watchers expecting to see clues for the group's next rate and policy moves."The Federal Open Market Committee is expected to keep policy steady next week, so our focus will be on any sign that the committee's assessment of the balance of risks has shifted since the mid-March meeting. There won't be updated economic projections to sort through, so any evidence of a change in FOMC members' thinking will come from the policy statement and Fed Chair Jerome Powell's press conference after the meeting," Oxford Economics said in a note.In other news, Reuters reported, citing sources from Pakistan, that Iran set out a new proposal for its peace talks with the US. The proposal covered guarantees that the US would not start the conflict again, the end of the blockade, among other things.Back at home, Saudia Dairy and Foodstuff (SASE:2270), d/b/a Sadafco, and Saudi Tadawul Group (SASE:1111) logged lower financial results for the first quarter of 2026. Arabian Cement Co. (SASE:3010), meanwhile, posted a 153.81% surge in its net profit and a 5.08% rise in sales.Sadafco and Saudi Tadawul Group closed 2.12% and 3.68% lower, while Arabian Cement shares ticked up 3.57%.

^TASISASE:1111SASE:2270SASE:2350SASE:2380SASE:3010
Asia Markets

Saudi Shares Start Week Higher; US-Iran Peace Talks Canceled

The Tadawul All Share Index closed Sunday 0.11% higher as investors assessed the latest updates regarding the conflict in the Middle East.US President Donald Trump said on his Truth Social account that the Pakistani trip for his envoys, Steve Witkoff and Jared Kushner, was canceled. The announcement dimmed the hopes for peace talks between Iran and the US to happen any time soon.Further to this, Israel launched an attack in Lebanon on April 25. The strikes, which targeted Hezbollah, resulted in four casualties and facility damage in Southern Lebanon.Back at home, Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, and Thob Al Aseel (SASE:4012) posted their financial results for the three months ended March 31. Petro Rabigh emerged from a loss in the first quarter, while Thob Al Aseel logged a higher net profit and revenue."The reason for net profit reported during the current quarter compared to a net loss recorded in the same quarter of last year was primarily attributable to improved product margins resulting from stronger refined product pricing and higher sales volumes," Petro Rabigh said in its report.Petro Rabigh rose 10% at closing, while Thob Al Aseel ticked down 1.59%.Meanwhile, the local calendar will be mostly empty except for the kingdom's preliminary figures for its GDP growth rate for the first quarter and the M3 money supply and private bank lending data for March on Thursday.

^TASISASE:2380SASE:4012
Asia Markets

Tadawul Stocks End Week Lower; Saudi's Exports, Imports Rise in February

The Tadawul All Share Index extended its losing streak to a fifth day as it closed Thursday 1.20% lower as tensions in the Strait of Hormuz dampened investor sentiment.The US reportedly blocked at least three Iranian-flagged ships in Asia as part of its blockade plan in the strait, Reuters reported, citing sources. A US source said that the move aims to help ships avoid the mines in the area.Back at home, Saudi Arabia's merchandise trade surplus increased to 22.95 billion Saudi riyals in February, compared with the prior month's revised 14.0 billion riyals.Meanwhile, merchandise exports climbed 4.7% year over year in the reporting month, while imports rose 6.6% year over year. The report also affirmed that China was the kingdom's main merchandise trading partner."Non-oil exports, including re-exports, recorded an increase of 15.1% compared to February 2025, while national non-oil exports, excluding re-exports, increased by 6.3%. Moreover, the value of re-exported goods increased by 28.5% during the same period, driven by a 59.9% increase in 'Machinery, electrical equipment and parts', which represented 53.9% of total re-export," the report said.On the corporate front, Jamjoom Pharmaceuticals Factory Co. (SASE:4015), Etihad Etisalat (SASE:7020), d/b/a Mobily, and Sabic Agri-Nutrients (SASE:2020) posted their financial statements for the first quarter of 2026. All three stocks reported higher net profit and revenue.Jamjoom Pharmaceuticals and Sabic Agri-Nutrients closed 0.26% and 5.05% lower, while Mobily closed flat.

^TASISASE:2020SASE:4015SASE:7020
International

Saudi Arabia's Trade Surplus Rises MoM in February

Saudi Arabia's merchandise trade surplus came in at 22.95 billion Saudi riyals in February, up from the revised 14.0 billion riyals in the prior month, General Authority for Statistics data showed Thursday.Merchandise exports totaled 99.08 billion riyals, 4.7% higher year over year, while merchandise imports increased 6.6% to 76.13 billion riyals.

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Asia Markets

Saudi Shares Close Lower; US Extends Ceasefire Deal with Iran

The Tadawul All Share Index closed Wednesday at 0.88% lower as the continued closure of the Strait of Hormuz overshadowed the cheer from the extension of the fragile US-Iran ceasefire deal.US President Donald Trump announced on his Truth Social account that the ceasefire deal with Iran will be extended indefinitely and will continue with the blockade of its ports until the Middle Eastern nation presents a "unified proposal".However, Mahdi Mohammadi, a senior advisor to Iranian Parliament Speaker Mohammad Baqer Qalibaf, suggested that the announcement might be a political ploy for a surprise attack by the US."In the Middle East conflict, Trump extended the ceasefire indefinitely just before its expiry after Iran refused further negotiations due to unreasonable US demands. This marks a U-turn in tone, as Trump had earlier ruled out an extension and hinted at military action. With Iran reportedly not requesting the ceasefire and the Strait of Hormuz issue still unresolved, Iran appears to hold the upper hand at present," Danske Bank said in a note.Back at home, Saudi Arabia's March construction cost index increased 2% from the 1.4% rise in February. The climb was mainly due to a growth in construction costs in the non-residential and residential sectors.On the corporate front, Arriyadh Development (SASE:4150), d/b/a Ardco, agreed to sell its stake in the Al Arabi Riyadh Development Real Estate Fund to Sumou Holding Co. The property group will sell its 10% interest for 184.5 million Saudi riyals. Ardco shares closed 0.11% in the red.

^TASISASE:4150
International

Saudi Arabia's Annual Construction Costs Climb 2% in March

Saudi Arabia's construction cost index increased 2% year over year in March, following a 1.4% rise in the previous month, according to data from the General Authority for Statistics released Wednesday.The latest increase was largely attributed to higher construction costs in both the residential and non-residential sectors.On a monthly basis, construction costs in the kingdom were 0.6% higher.

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Asia Markets

Saudi Shares End Tuesday in Red Amid Jitters on US-Iran Meeting Uncertainty

The Tadawul All Share Index closed Tuesday 0.19% in the red as market jitters regarding the uncertainty of the US-Iran peace talks happening sent investors into risk-off mode.As the end of the two-week ceasefire looms, Iran and the US are set to meet in Islamabad, Pakistan, on Wednesday, Reuters reported, citing a Pakistani source. The US will send Vice President JD Vance for the discussions, with the Iranian delegation sending uncertain signals about its participation."Various reporting suggests that Vice President Vance is expected depart to Islamabad today, and we also saw reporting by the New York Times and others that Iran is also sending a team to Islamabad for negotiations. With a spokesman for Iran's foreign ministry earlier saying that Tehran had no plans to attend the negotiations, this has given a more positive light on the talks going ahead, though it remains unclear who would lead the Iranian delegation," Deutsche Bank Research said in a note.Back at home, Saudi National Bank (SASE:1180), Riyad Bank (SASE:1010), Al Rajhi Bank (SASE:1120), and Arab National Bank (SASE:1080) posted their financial statements for the first quarter of 2026. All four stocks logged higher net profit and total operations profit for the three months ended March 31."SNB reported SAR6,423mn net income for 1Q26, 1.7% above consensus (Visible Alpha), 2.2% above BofAe, +0.6% QoQ. The bottom line was helped by net release of provisions (-32bpt CoR), which has offset lower than we had expected revenue and higher costs. In the balance sheet, loan growth came in moderate, while deposits accelerated, bringing Loan / Deposit Ratio down," BofA Global Research said.Saudi National Bank and Riyad Bank declined 2.40% and 0.23%, respectively, while Al Rajhi Bank closed 0.42% higher and Arab National Bank ended the session 1.58% in green.Meanwhile, Arabian Internet and Communications Services Co. (SASE:7202), d/b/a Solutions', shares rose 0.68% as it secured a project to design, upgrade, and provide equipment for Saudi Telecom (SASE:7010), d/b/a stc, data centers. Stc shares closed 0.05% higher.

^TASISASE:1010SASE:1080SASE:1120SASE:1180SASE:7010SASE:7202
Asia Markets

Tadawul Shares Extend Losing Streak Amid Uncertainty on US-Iran Peace Talks

Saudi Exchange-traded shares closed Monday 0.85% in the red as the potential breakdown of the already shaky ceasefire deal between the US and Iran dampened investor sentiment.The US-Iran talks on a possible deal to end the conflict are in jeopardy as the US seized and fired on an Iranian-flagged cargo ship that was headed to the Bandar Abbas port.An Iranian source told Reuters that the US' port blockade is a hindrance to the talks, with Iranian Foreign Ministry spokesman Esmaeil Baghaei adding that the Middle Eastern country is not rushing to conduct the discussions.Back at home, the real estate price index of Saudi Arabia declined 1.6% year over year in the first quarter, according to a report by the General Authority for Statistics. The change was attributed to lower residential sector prices."The Real Estate Price Index recorded a 0.2% decline on a quarterly basis during Q1 of 2026. The Index was affected by the decline in the prices of the commercial sector by 2.3% driven by a decrease in the prices of commercial land by 2.4%, the prices of buildings by 1.3% and the prices of galleries and shops by 2.9%," the statistics agency said in its report.Meanwhile, preliminary data showed that the kingdom's operating revenue and employee compensation indices in February rose 5.9% and 9.8% year over year, respectively. However, issued building permits dropped 18.8% to 5,920 in the reporting month from 7,290 a year ago.On the corporate front, Cherry Trading Co. (SASE:4265) shares ticked up 3.11% as it secured a contract to lease 922 vehicles in Riyadh. The car rental and leasing company's board also recommended a 0.5 riyal per share dividend for 2025.

^TASISASE:4265
International

Saudi Arabia's Annual Employee Compensation Up 9.8% in February

Saudi Arabia's employee compensation index climbed 9.8% on an annual basis in February, compared with a 9.4% rise in the previous month.The monthly growth stood at 0.7%, according to preliminary data from the General Authority for Statistics released Monday.

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International

Saudi Arabia's Annual Real Estate Prices Fall 1.6% in Q1

Saudi Arabia's real estate prices declined 1.6% year over year in the first quarter, after a 0.7% fall in the previous three months, the country's General Authority for Statistics said Monday.The deflation was mainly attributed to a decrease in residential sector prices.On a quarterly basis, the real estate price index dropped 0.2% in the three months to March, against a 0.4% decrease earlier.

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International

Saudi Arabia Logs 18.8% Decrease in February Issued Building Permits

Issued building permits in Saudi Arabia fell 18.8% annually in February, following a 6.6% drop in the previous month, according to preliminary data from the General Authority for Statistics released Monday.On a monthly basis, the short-term business indicators statistics showed a 14.4% decline in issued building permits.

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International

Saudi Annual Business Operating Revenue Up 5.9% in February

Saudi Arabia's operating revenue index climbed 5.9% year over year in February, after a 3.2% growth in January, according to preliminary data from the General Authority for Statistics released Monday.On a monthly basis, the short-term business indicators statistics report showed that operating revenue was up 0.3%.

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Asia Markets

Tadawul Shares Start Week Lower Amid Continued Middle Eastern Conflict Jitters

The Tadawul All Share Index closed 0.78% lower on Sunday amid market jitters on the updates regarding the fragile ceasefire agreement between the US and Iran.Reuters reported that the Strait of Hormuz closed again after reopening for one day. The area was blocked off again after Iran accused the US of violating its agreement due to the blockade of ports in the Middle Eastern nation.Further to this, the two sides noted that their talks to end the conflict were making progress. However, Iran's Deputy Foreign Minister Saeed Khatibzadeh noted that there was no exact date for its next round of in-person discussions."We are now focusing on finalising ⁠the framework of understanding between two sides. We don't want to enter into any negotiation or meeting which is doomed to fail and which can be a pretext for another round of escalation," Khatibzadeh said. "Until we agree the framework, we cannot set the date... There was significant progress made actually. But then the maximalist approach by the other side, trying to make Iran an exception from international law prevented us to reach an agreement."Back at home and on the corporate front, the board of Maharah Human Resources (SASE:1831) proposed to distribute a 0.13 Saudi riyal-per-share interim cash dividend for the second half of 2025, as well as increase its capital to 600 million riyals through bonus share issues. Shares of the human resources and outsourcing company closed 0.16% higher.Looking ahead to the week, the local economic calendar will see the release of the real estate price index for the first quarter and the February short-term business indicators statistics figures on Monday, as well as the February import and export data on Thursday.

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Asia Markets

Saudi Shares End Week Lower; Jarir Marketing Gains

The Tadawul All Share Index closed the week lower at 0.30% in the red on Thursday as market watchers tuned in to the latest updates on geopolitical conflicts between the US and Iran, as well as Ukraine and Russia.Reuters reported, citing sources in Pakistan, that the Iran-US war might end soon as "sticky issues" regarding its previous failed deal have made progress. The foreign ministry of Pakistan also confirmed that both sides are willing to continue negotiations, with the US side saying that talks were "productive and ongoing.""US-Iran talks may resume in Pakistan this weekend after previous discussions stalled, although no date has been set yet. The Trump administration expressed optimism on Wednesday about resolving the conflict; President Trump stated in an interview with Fox News that the Iran war is 'almost over'," Danske Bank said in a note.On the other hand, dampening sentiment is Russia's newest attack in Ukraine. The strikes in Kyiv and Odesa resulted in casualties, injuries, and property damage.Back at home, Jarir Marketing (SASE:4190) shares gained 2.77% as it logged an estimated 16.658% annual increase in attributable net profit and a 14.371% rise in revenue in the first quarter.Meanwhile, Cherry Trading Co. (SASE:4265) entered a 36-month leasing contract for 275 vehicles. Shares of the car rental and leasing company closed 0.16% lower.

^TASISASE:4190SASE:4265
Asia Markets

Tadawul Shares End Wednesday Higher; Saudi Arabia's Inflation Ticks Up in March

The Tadawul All Share Index closed Wednesday higher at 0.90% as investors assessed the latest economic releases in Saudi Arabia.According to the General Authority for Statistics, the kingdom's annual inflation rate edged up year over year to 1.8% in March from 1.7% in February."On a monthly basis, the CPI in March 2026 recorded a relative increase of 0.3% compared to February 2026, as the prices of the food and beverage division increased by 0.5% driven by a 0.5% increase in the food group," the statistics agency said in its report. "On the other hand, the prices of the transport division decreased by 0.2% The prices of education, health, and tobacco services remained stable, and there was no significant relative change in March 2026."The country's wholesale prices also increased 3.3% year over year in March after a 3.5% rise in the prior month. Meanwhile, the producer price index grew 1% in February following a 0.4% uptick in January.In other news, the International Monetary Fund released its latest World Economic Outlook, expecting Saudi Arabia's real gross domestic product to increase 3.1%, 1.4 percentage points lower than its previous forecast.On the corporate front, Gas Arabian Services (SASE:4146) closed 0.21% higher as its Gas Arabian Metal Tech Factory unit signed a binding deal to design, engineer, and produce oil and gas systems with the UK's Oil & Gas Systems Ltd.

^TASISASE:4146
International

Saudi Arabia's Annual Inflation Rate Rises to 1.8% in March

Saudi Arabia's annual inflation rate came in at 1.8% in March, up from 1.7% in February, the country's General Authority for Statistics said Wednesday.On a monthly basis, consumer prices in Saudi Arabia were 0.3% higher, compared with the previous zero growth.

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International

Saudi Arabia's Annual Wholesale Prices Climb 3.3% in March

Saudi Arabia's wholesale prices increased 3.3% year over year in March, following a 3.5% rise in the previous month, the country's General Authority for Statistics said Wednesday.On a monthly basis, wholesale prices in the kingdom edged up 0.2%.

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