Closing Bell: Saudi main market ends lower at 10,497

Trading volume reached 260.53 million shares, with turnover of SR4.10 billion ($1.09 billion). A total of 55 stocks advanced while 198 declined. Shutterstock

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Updated 27 sec ago

Nour El-Shaeri

September 08, 2025 17:12

Closing Bell: Saudi main market ends lower at 10,497

Updated 27 sec ago

Nour El-Shaeri

September 08, 2025 17:12

RIYADH: ��’s Tadawul All Share Index closed lower on Monday, shedding 96.92 points, or 0.91 percent, to end at 10,497.05.

Trading volume reached 260.53 million shares, with turnover of SR4.10 billion ($1.09 billion). A total of 55 stocks advanced while 198 declined.

The Kingdom’s parallel market, Nomu, also retreated, dropping 179.38 points, or 0.70 percent, to close at 25,345.91, with 32 gainers against 57 losers.

The MSCI Tadawul Index slipped 12.61 points, or 0.92 percent, to 1,362.97.

Top gainers included Lazurde Co. for Jewelry, which jumped 6.11 percent to SR13.02, and Almasane Alkobra Mining Co., up 3.70 percent at SR65.95.

Ataa Educational Co. climbed 3.46 percent to SR64.30, Wafrah for Industry and Development Co. added 3.04 percent to SR25.76, and Aldrees Petroleum and Transport Services Co. advanced 2.91 percent to SR116.70.

On the downside, Thimar Development Holding Co. dropped 9.97 percent to SR45.06, while Saudi Real Estate Co. fell 6.20 percent to SR16.49. Saudi Cable Co. lost 5.50 percent to SR141, Saudi Fisheries Co., also known as Al Asmak, slipped 4.40 percent to SR92.40, and Ash-Sharqiyah Development Co. declined 4.28 percent to SR16.10.

On the announcement front, Al Moammar Information Systems Co., also known as MIS, said it signed a SR227.8 million contract, including VAT, with the Saudi Authority for Data and Artificial Intelligence for the “Naqaa” Data Center Expansion project in Riyadh.

The 36-month deal is expected to have a positive financial impact starting in the fourth quarter of 2025.

MIS shares closed 0.62 percent lower at SR129.

Meanwhile, the Mediterranean and Gulf Insurance and Reinsurance Co. announced regulatory approval from the insurance authority for its planned merger with Buruj Cooperative Insurance Co.

Under the agreement, Buruj will be merged into Medgulf, with its assets, rights and obligations transferred in exchange for 33.2 million new Medgulf shares issued to Buruj shareholders.

The insurer noted that completion of the merger remains subject to the approval of the Capital Market Authority and the shareholders of both companies.

Medgulf shares edged up 0.13 percent to SR15.67.

Topics: TASI NOMU

GCC banks’ Q2 profits hit record $16.2bn on lending and deposits boom

Updated 31 sec ago

Reem Walid

September 08, 2025 16:03

GCC banks’ Q2 profits hit record $16.2bn on lending and deposits boom

GCC inflation remained stable in second quarter despite heightened geopolitical risks
Year-on-year, all markets posted growth

Updated 31 sec ago

Reem Walid

September 08, 2025 16:03

RIYADH: Strong regional fundamentals and a robust project pipeline drove Gulf Cooperation Council-listed banks’ net profit to a record $16.2 billion in the second quarter of 2025, up 9.2 percent year on year.

This marks the second consecutive quarterly increase, with profits rising 3.7 percent quarter on quarter, supported by broad-based revenue growth and a lower cost-to-income ratio, which offset higher impairments, according to Kuwait-based Kamco Invest’s GCC Banking Sector Report – Q2 2025.

This comes as GCC inflation remained stable in the second quarter despite heightened geopolitical risks.

The report aligns with forecasts that regional economies will grow 4.4 percent in 2025, up from 4 percent, as rising oil output and resilient non-oil activity offset global trade headwinds, according to a recent report by the Institute of Chartered Accountants in England and Wales with Oxford Economics.

“At the country level, the q-o-q growth remained largely positive with five out of six country aggregates showing a sequential growth in net income while the aggregate for the Bahraini banking sector showed a decline,” said the Kamco report.

“Kuwaiti-listed banks showed the biggest absolute growth in net profits with an increase of $204.6 million, or 15.6 percent, mainly led by reversal of provisions reported by three out of nine listed banks on the exchange,” it added.

“UAE and Saudi banks were next with net profit growth of $191.8 million (+3.2 percent) and $152.3 million (+2.6 percent), respectively,” Kamco said.

Year-on-year, all markets posted growth, with Saudi and Bahraini banks achieving double-digit increases, while Oman and Kuwait also reported solid gains.

It showed that the banking sector’s total revenues hit a new all-time high of $35.6 billion for the quarter, driven by a solid 3.6 percent quarter-on-quarter increase.

“The growth was led by a broad-based increase in revenues reported by banks across country aggregates that more than offset an 8.2 percent decline reported by Bahraini banks,” the report said.

“UAE-listed banks led the way during the quarter with a revenue growth of 5.3 percent or $674.0 million during Q2-2025 as compared to Q1-2025,” it also said.

Lending rose 3.4 percent quarter on quarter, the second-largest gain in 16 quarters, bringing total gross loans to $2.23 trillion, supported by strong non-oil sector activity, particularly manufacturing, which grew well above regional benchmarks.

Central bank data confirmed the strength of GCC economies, showing sustained credit expansion in all countries except Bahrain, even amid declining project awards.

Customer deposits reached a new high of $2.74 trillion, up 3.5 percent quarter on quarter and 13.3 percent year on year, with growth broad-based across all GCC countries.

Loan-to-deposit ratio

The overall loan-to-deposit ratio for GCC banks remained above the 80 percent threshold at the end of the period, settling at 81.5 percent, slightly down from 81.6 percent in the first quarter.

This is the fifth consecutive quarter the ratio has stayed above 80 percent, reflecting stronger asset utilization and improved margins, which help offset the impact of declining interest rates.

Topics: GCC Gulf Cooperation Council (GCC) Gulf economy

PIF signs MoU with Macquarie to boost Saudi infrastructure, energy transition projects

Updated 59 min 50 sec ago

Nirmal Narayanan

September 08, 2025 15:08

PIF signs MoU with Macquarie to boost Saudi infrastructure, energy transition projects

Updated 59 min 50 sec ago

Nirmal Narayanan

September 08, 2025 15:08

RIYADH: ��’s Public Investment Fund signed a memorandum of understanding with Macquarie Asset Management to expand investments in infrastructure and energy transition projects, marking the latest move to attract global partners.

The non-binding agreement will see the two firms explore joint opportunities in priority areas such as digital infrastructure, electric vehicle charging networks and energy storage, according to a PIF statement.

Macquarie, which manages about $588 billion in assets, also plans to open a regional office in Riyadh as part of the deal.

The deal will also support foreign institutional investment in ��’s economy, along with strengthening the asset management industry in the Kingdom.

The MoU builds on PIF’s ties with the National Infrastructure Fund and other international investors to accelerate the delivery of critical infrastructure projects. The fund, with around $925 billion of assets under management, has been expanding its network of global partnerships as it pursues ��’s Vision 2030 diversification agenda.

Yazeed A. Al-Humied, deputy governor and head of Middle East and North Africa, Investments at PIF, said: “This MoU with MAM marks a significant milestone in attracting leading international infrastructure asset managers that can bring global capital and expertise to accelerate the delivery of ��’s infrastructure pipeline, while promoting knowledge sharing and capacity building in ��.”

He added: “Our collaboration with MAM also underscores PIF’s commitment to building international partnerships that drive growth and development in local markets.”

��’s asset management industry has been growing rapidly, with total assets hitting 1 trillion riyals ($266 billion) in 2024, according to Fitch Ratings, as the Kingdom seeks to deepen its financial markets.

PIF, one of the world’s most active sovereign wealth funds, has established more than 100 companies since 2017 as part of its strategy to diversify the economy and boost job creation.

Ben Way, global head of Macquarie Asset Management, said the firm aims to explore collaboration in a number of key sectors across infrastructure and energy transition.

“We look forward to showcasing our global experience in developing, scaling, and managing transformative projects through exchanging best practices and developing local talent,” he added.

PIF said in the statement that the non-binding MoU remains subject to certain conditions, including regulatory and internal approvals.

Topics: PIF Investment MoU

Egypt launches economic narrative to expand exports, cut debt

Updated 08 September 2025

Nadin Hassan

September 08, 2025 14:23

Egypt launches economic narrative to expand exports, cut debt

Government aims to reduce debt levels to lowest level seen in its history
GDP expanded 4.2% in first nine months of current fiscal year

Updated 08 September 2025

Nadin Hassan

September 08, 2025 14:23

RIYADH: Egypt has unveiled a sweeping initiative that places the private sector at the center of future growth, with Prime Minister Mostafa Madbouly vowing to cut debt to the lowest level in the country’s history and sustain export expansion.

The National Narrative for Economic Development, launched in the New Administrative Capital and attended by cabinet members, lawmakers, diplomats, and business leaders, has a blueprint that integrates the government’s reform agenda with Egypt Vision 2030.

It will undergo two months of consultation with experts and the public, with the final version due in December.

“The narrative is based on a fundamental principle that we affirm with utmost clarity, which is that the private sector will lead economic development in Egypt, and strongly, in the coming period,” Madbouly said in his opening speech.

He added that the government aims to reduce debt levels to “the lowest level Egypt has ever seen in its history.”

The prime minister said gross domestic product expanded 4.2 percent in the first nine months of the current fiscal year, compared to 2.4 percent in the same period last year, supported by industry, tourism, agriculture, and information and communication technology.

Inflation fell from 25.7 percent in July 2024 to 13.9 percent a year later, while remittances exceeded $36.5 billion and unemployment dropped to its lowest in four years.

Exports are expected to grow by 20 percent this year, and Madbouly said the government aims to sustain that pace for five years, building on infrastructure investments in ports, roads, and utilities. He cited the Suez Canal Economic Zone as a case where government spending has unlocked major foreign investment.

Investment and Foreign Trade Minister Hassan El-Khatib said the national arrative incorporates the Foreign Direct Investment Strategy 2025–2030, a roadmap to expand Egypt’s investor base and attract high-quality capital into priority sectors.

It targets 13 sectors, eight ready for immediate promotion and five requiring additional reforms, and was developed with the General Authority for Investment and Free Zones, the Planning and International Cooperation ministries, the World Bank Group, and private sector input.

El-Khatib highlighted a new unified licensing platform linking 41 government entities, offering 389 electronic services and e-payment options for 250 of them.

The ministry is preparing for Egypt’s participation in the World Bank’s Business Ready report by translating nearly 2,000 survey questions and drafting a reform matrix in consultation with businesses.

Planning and Economic Development Minister Rania Al-Mashat said the narrative seeks to redefine the state’s role, shifting from operator to regulator, enabler, and investment partner.

She said implementation will be guided by the State Ownership Policy Document, coordinated through three entities — the State-Owned Companies Unit under the Cabinet, Egypt’s sovereign wealth fund, and the Government Offerings Unit.

As part of this effort, 59 of 63 economic entities are under review for restructuring, including possible mergers or liquidation, to improve efficiency and rationalize spending.

Al-Mashat added that a new state ownership policy index will track progress and measure the impact of reforms on investment and private sector growth.

Madbouly said the ultimate aim of the reforms is to raise Egyptians’ quality of life and deliver economic indicators.

“Ultimately, these reforms must have a positive impact on the well-being of Egyptian citizens in the near future, and that is our goal through this vision,” he said.

“Consequently, we are working to reduce the state’s role in economic activity, further empower the private sector in the development process, and measure this with clear quantitative figures and indicators to assess our success,” he added.

Topics: Egypt Egypt economy Mostafa Madbouly

Qatar’s international reserves rise 3.2% in August

Updated 08 September 2025

Nour El-Shaeri

September 08, 2025 14:27

Qatar’s international reserves rise 3.2% in August

Updated 08 September 2025

Nour El-Shaeri

September 08, 2025 14:27

RIYADH: Qatar Central Bank’s international reserves and foreign currency liquidity increased by 3.2 percent year on year in August, reaching 260.3 billion Qatari riyals ($71.50 billion), according to the bank’s latest monthly figures.

This marked a slight deceleration compared to July’s growth rate of 3.28 percent, when reserves stood at 259.238 billion riyals.

Official reserves also posted a year-on-year increase of 3.8 percent, rising to 200.8 billion riyals in August. That compares with a 3.99 percent growth rate in July, when reserves reached 199.84 billion riyals.

According to data reported by the Qatar News Agency, holdings of foreign bonds and treasury bills fell by 4.9 billion riyals to 135.2 billion riyals in August, while gold reserves climbed by 14.6 billion riyals to 46.5 billion riyals.

Cash balances at foreign banks declined by 2.3 billion riyals to 13.9 billion riyals, while Special Drawing Rights with the International Monetary Fund slipped slightly to 5.24 billion riyals from 5.25 billion riyals a year earlier.

The August figures extend trends seen in previous months. In June, Qatar’s international reserves stood at 258.9 billion riyals, while in May they reached 258.1 billion riyals, according to QNA.

During both months, official reserves rose year on year, with notable increases in gold holdings offset by declines in foreign bond investments and bank deposits.

“Similarly, Qatar’s SDR deposit holdings at the IMF rose by 12 million riyals in July 2025 compared to July 2024, reaching 5.178 billion riyals,” QNA’s report stated.

The central bank’s international reserves comprise foreign bonds and treasury bills, cash balances with foreign banks, gold holdings, SDRs, and Qatar’s quota in the IMF. Additional liquid foreign currency assets also contribute to the total.

Topics: Qatar

Saudi ports’ transshipment jumps 15% in August: Mawani

Updated 08 September 2025

MOHAMMED AL-KINANI

September 08, 2025 12:28

Saudi ports’ transshipment jumps 15% in August: Mawani

Overall container throughput increased by 9.5% to 750,634 TEUs
Total cargo throughput fell 12.44% to 20.2 million tonnes

Updated 08 September 2025

MOHAMMED AL-KINANI

September 08, 2025 12:28

JEDDAH: ��’s ports handled a surge in transshipment activity in August, with volumes climbing 14.7 percent year on year to 189,407 twenty-foot equivalent units, underscoring the Kingdom’s rising role as a global trade hub.

Overall container throughput increased by 9.5 percent to 750,634 TEUs, the Saudi Ports Authority, known as Mawani, said in a press release.

Export containers advanced 7.95 percent to 279,550 TEUs, while imports grew 7.8 percent to 281,677 TEUs.

The boost supports ��’s National Transport and Logistics Strategy, a key pillar of Vision 2030 aimed at positioning the Kingdom as a leading logistics center linking Asia, Europe, and Africa.

Mawani said the rise in container throughput supports trade flows, maritime industries, tourism, supply chains, and food security, delivering broad economic benefits to the Kingdom.

“Maritime traffic also witnessed an increase of 13.16 percent, with 1,118 vessels received, compared to 988 vessels in the same month last year,” Mawani said.

| The total number of containers handled at ports supervised by rose by 9.52% in August 2025 compared to the same month last year. Export containers increased by 7.95%, imports by 7.80%, and transshipment containers by 14.68%. This growth strengthens…
— مـوانـئ | MAWANI (@MawaniKSA)

Total cargo throughput fell 12.44 percent to 20.2 million tons. General cargo accounted for 1.08 million tons, dry bulk for 4.58 million tons, and liquid bulk for 14.54 million tons. The ports also received 494,950 head of cattle, a 17.2 percent increase from a year earlier.

Passenger numbers surged 70.1 percent to 85,636, up from 50,345 in the same month last year, while vehicles handled increased 4.27 percent to 107,826, compared with 103,411 a year earlier.

The August performance followed steady gains earlier this year. In July, Saudi ports handled 722,502 TEUs, up 12 percent year on year, driven by a 35 percent jump in transshipment volumes. In May, throughput rose 13 percent to 720,684 TEUs.

Earlier this month, Mawani announced the launch of the GS2/KMP shipping service by the Premier Alliance, comprising Hyundai Merchant Marine, Ocean Network Express, and Yang Ming, at King Abdulaziz Port in Dammam and Jubail Commercial Port.

The service connects �� with 18 international destinations, including Singapore, China's Shanghai, South Korea's Busan, Long Beach in California, and Jebel Ali in the UAE, with a total capacity of up to 16,000 TEUs.

In parallel, Mawani is strengthening regional partnerships to boost industrial growth. Its president, Suliman Mazroua, met with Hussein bin Yahya Fadli, CEO of Jazan City for Primary and Downstream Industries, to explore joint investment projects and enhance Jazan Port’s role as a leading industrial hub.

He also briefed Jazan’s Gov. Prince Mohammed bin Abdulaziz bin Mohammed on the role of ports in supporting global trade and reinforcing the national economy.

Topics: Mawani Saudi ports Saudi Ports Authority (Mawani)

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Closing Bell: Saudi main market ends lower at 10,497

Closing Bell: Saudi main market ends lower at 10,497

GCC banks’ Q2 profits hit record $16.2bn on lending and deposits boom

GCC banks’ Q2 profits hit record $16.2bn on lending and deposits boom

GCC climbs global circular carbon economy rankings

��, UAE dominate healthcare deals in GCC, JLL says

PIF signs MoU with Macquarie to boost Saudi infrastructure, energy transition projects

PIF signs MoU with Macquarie to boost Saudi infrastructure, energy transition projects

PIF-owned Savvy Games expands ��’s gaming footprint

PIF lifts US holdings to $23.8bn, exits tech and moves into chips, healthcare

Egypt launches economic narrative to expand exports, cut debt

Egypt launches economic narrative to expand exports, cut debt

Egypt’s net foreign reserves rise to $49.25bn in August

Egypt’s net foreign assets jump to a record $18.5 billion in July

Qatar’s international reserves rise 3.2% in August

Qatar’s international reserves rise 3.2% in August

Saudi ports’ transshipment jumps 15% in August: Mawani

Saudi ports’ transshipment jumps 15% in August: Mawani

Saudi Mawani, Petrotank to establish $133m integrated ship refueling center in Yanbu

Saudi ports post 12% rise in July container volumes

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Closing Bell: Saudi main market ends lower at 10,497

Closing Bell: Saudi main market ends lower at 10,497

GCC banks’ Q2 profits hit record $16.2bn on lending and deposits boom

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PIF signs MoU with Macquarie to boost Saudi infrastructure, energy transition projects

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