Closing Bell: Saudi main index rises to close at 11,619


Total trading turnover of the benchmark index was SR5.35 billion ($1.42 billion), as 100 stocks advanced and 150 retreated. AFP/File 
Total trading turnover of the benchmark index was SR5.35 billion ($1.42 billion), as 100 stocks advanced and 150 retreated. AFP/File 
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Updated 11 sec ago

Closing Bell: Saudi main index rises to close at 11,619


Closing Bell: Saudi main index rises to close at 11,619


RIYADH: ’s Tadawul All Share Index gained 26.37 points, or 0.23 percent, on Monday to close at 11,619.82, with total trading turnover reaching SR5.35 billion ($1.42 billion). Of the stocks, 100 advanced while 150 retreated.

In contrast, the Kingdom’s parallel market, Nomu, fell 216.48 points, or 0.86 percent, to close at 24,822.88, with 37 stocks rising and 47 declining. The MSCI Tadawul Index rose 3.06 points, or 0.2 percent, to finish at 1,511.49.

Rasan Information Technology Co. was the day’s best performer, jumping 6.39 percent to SR109.90. The company also reported interim results for the nine months ending Sept. 30, posting a net profit of SR157.3 million, up 186 percent from the same period last year.

The increase was driven by strong revenue growth, higher gross and operating margins, improved operational efficiency, and optimized contract-related procedures.

Other top performers included Saudi Kayan Petrochemical Co., which rose 5.69 percent to SR6.13 despite reporting a net loss of SR1.6 billion for the first nine months, widening from SR1.1 billion a year earlier due to lower average selling prices, and Maharah Human Resources Co., which gained 5.07 percent to SR5.60.

Among the biggest decliners, Saudi Industrial Development Co. fell 3.04 percent to SR33.20, while Alkhorayef Water and Power Technologies Co. lost 2.91 percent to SR150.00, and LIVA Insurance Co. dropped 2.82 percent to SR13.79.

Meanwhile, Saudi Ceramic Co. reported a net profit of SR140 million for the first nine months of 2025, a 1,414 percent increase from the same period last year, largely due to an insurance compensation of SR120 million and a SR55.7 million rise in gross profit supported by higher sales and improved margins. Despite this, the stock ended the session slightly lower at SR31.30, down 0.39 percent.


FII9 a ‘turning point’ as tech and global leaders converge in Riyadh, says event chairman

FII9 a ‘turning point’ as tech and global leaders converge in Riyadh, says event chairman
Updated 1 min ago

FII9 a ‘turning point’ as tech and global leaders converge in Riyadh, says event chairman

FII9 a ‘turning point’ as tech and global leaders converge in Riyadh, says event chairman

RIYADH: The ninth Future Investment Initiative marks a “turning point” in global innovation focus with technology leaders set to make up over half of speakers at the event in the Saudi capital.

In an interview with CNBC, Richard Attias, chairman of the FII Institute’s executive committee, said this year’s conference represents a major shift as a range of sectors seek to get to grips with the impact of artificial intelligence.

Launched in 2017, the Future Investment Initiative — often referred to as “Davos in the Desert” — has become a key platform for to showcase its economic diversification strategy under Vision 2030.

This year’s event, running from Oct. 27 to 30, brings together global policymakers, investors, and corporate leaders to discuss trends shaping the world economy and explore partnerships across emerging industries. 

“FII9 is a turning point,” Attias told CNBC, adding: “This year, 52 percent of our speakers are coming from the tech industry. It is showing you the importance, of course, of AI, but not only AI, innovation in general, because all sectors in all industries are impacted by technology now.” 

Attias highlighted three defining factors for this year’s edition: the dominance of technology, the presence of more than 20 world leaders and 50 ministers representing 90 countries, and the event’s growing reputation as one of the most inclusive platforms for international collaboration.  

“This will be a fantastic platform for public private partnership,” Attias added, emphasizing that such collaboration is “probably one of the solutions of all the major issues that the global economy is facing.” 

Attias called FII “probably the most inclusive platform in the world,” noting the presence of delegates from rival nations such as Russia and Ukraine, along with the US, China, and strong participation from the Global South and young entrepreneurs. 

“Riyadh is becoming the economic capital of the world, at least for the week,” Attias said, noting that FII has expanded from a three-day conference into a full week of events, with attendees arriving prior to the event and to capitalize on the opportunities within the Kingdom. 

The scale of activity, he admitted, is a “good problem to have,” but requires a “navigator” to manage the countless meetings and sectors on display.

He pointed to ’s Vision 2030, stating it is no longer a future plan but a reality “in motion,” encompassing sectors from sport and entertainment to food security, tourism, energy, and infrastructure. 

Attias stressed that FII has moved beyond symbolic memorandums of understanding. “Real deals are happening. Very concrete deals are signed,” he added in the interview. 

He linked this spirit of optimism and action to the institute’s resilience, recalling that FII was among the few major conferences held during the COVID-19 pandemic in 2020. This mindset, he said, reflects the FII Institute’s mission of creating an “impact on humanity.” 

This year’s event has attracted 9,000 delegates from nearly 100 countries, including participation from all Gulf Cooperation Council sovereign wealth funds. Attias said that by bringing together these funds with private equity firms, banks, financial institutions, and global CEOs, FII has created the “perfect equation” for driving global investment and collaboration. 


Saudi PIF-backed Humain set to launch voice-controlled OS 

Saudi PIF-backed Humain set to launch voice-controlled OS 
Updated 38 min 19 sec ago

Saudi PIF-backed Humain set to launch voice-controlled OS 

Saudi PIF-backed Humain set to launch voice-controlled OS 

JEDDAH: A new computer operating system that responds to voice commands instead of clicks from ’s Public Investment Fund-backed AI firm Humain is set to debut this week, revealed a senior executive. 

The startup said its new product, Humain 1, is designed as a potential alternative to icon-based systems like Windows or macOS that have dominated personal computing since the mid-1980s, Reuters reported, citing a company spokesperson. 

This comes as is using artificial intelligence to boost innovation and economic growth in key sectors such as healthcare, finance, and logistics. The country is also investing in research and development to strengthen its position as a regional hub for AI and support its shift toward a knowledge-based economy. 

“Rather than looking at icons where you click for discrete applications, now you (...) speak your intent,” Reuters quoted Humain CEO Tareq Amin as saying at the FortuneGlobal Forum in Riyadh. 

The AI company aims to be the first to officially launch such a system, even as other firms develop similar products. It also plans to build approximately 6 gigawatts of data center capacity. 

Launched in May under the Public Investment Fund and chaired by Crown Prince Mohammed bin Salman, Humain focuses on developing advanced Arabic language models and large-scale AI infrastructure. 

It aims to position as a global AI leader by the end of the decade, fostering local innovation, generating intellectual property, and attracting top international AI talent and investment. 

A Humain spokesperson told Reuters that “the company started developing the new operating system shortly after it launched in May and has been testing it internally for payroll and human resources systems.” 

On Oct. 26, Humain signed a strategic partnership with the FII Institute to advance human-centric AI innovation through thought leadership. 

The partnership comes ahead of the 9th edition of FII Institute’s flagship conference, FII9 in Riyadh, where Humain was set to unveil a series of major product and partnership announcements, including its new operating system. 

Earlier in October, Humain signed a strategic framework agreement with center3, a regional digital infrastructure company owned by stc Group.

The partnership aims to provide advanced connectivity services to support the company’s efforts to build into a global AI hub. 

Under the agreement, Humain will use center3’s infrastructure to ensure reliable national and international network connections — a key step in developing the Kingdom’s full-stack AI ecosystem. 

In August, the company introduced Humain Chat, an Arabic AI app trained on what the firm says is the world’s largest Arabic-language dataset.

The app is the first product in the firm’s AI suite and is powered by Allam 34B, an Arabic model developed in by local engineers. . 


Bahrain’s sovereign fund, SandboxAQ sign deal to speed up drug discovery with AI

Bahrain’s sovereign fund, SandboxAQ sign deal to speed up drug discovery with AI
Updated 27 October 2025

Bahrain’s sovereign fund, SandboxAQ sign deal to speed up drug discovery with AI

Bahrain’s sovereign fund, SandboxAQ sign deal to speed up drug discovery with AI

RIYADH: SandboxAQ, a US-based artificial intelligence and quantum technology firm, signed an agreement with Bahrain’s sovereign wealth fund on Monday aimed at speeding up the development of drugs and creating biotech assets worth $1 billion.

The deal, announced on the sidelines of the Future Investment Initiative in Riyadh, will see Bahrain’s Mumtalakat license SandboxAQ’s large quantitative models trained on physics, chemistry and biology to accelerate drug discovery and scientific research.

“The collaboration will help position Bahrain as a regional biotech hub, with a joint research committee guiding a three-year program aimed at developing valuable new drugs,” they said in a statement.

SandboxAQ CEO Jack Hidary told Reuters the partnership would empower Bahrain to create and own intellectual property in biotech, including therapies targeting diseases prevalent in the region such as diabetes and certain genetic disorders.

“Traditionally, the majority of biotech IP is owned in a handful of countries. This enables Bahrain to develop its own assets, focused both on regional and global health priorities,” Hidary said.

The agreement will use Bahrain’s digital health datasets and hospital infrastructure to develop therapies. Clinical trials are expected to begin in Bahrain, with potential for multi-site studies, Hidary added.

He added that SandboxAQ was receiving interest from other countries, including in the Gulf, for similar partnerships.

In January, Saudi oil giant Aramco signed an agreement with SandboxAQ to use its models to increase the value of downstream products.


UK Chancellor Rachel Reeves says she is hopeful for Gulf trade deal ‘very soon’

UK Chancellor Rachel Reeves says she is hopeful for Gulf trade deal ‘very soon’
Updated 27 October 2025

UK Chancellor Rachel Reeves says she is hopeful for Gulf trade deal ‘very soon’

UK Chancellor Rachel Reeves says she is hopeful for Gulf trade deal ‘very soon’

RIYADH: UK finance minister Rachel Reeves said on Monday she was confident a trade deal with Gulf countries can be done quickly after she had “really good” meetings in Riyadh about an agreement that could help her plan to speed up economic growth.

“I am really confident we can get that deal over the line,” she said at a forum held in the Saudi capital, adding she was hopeful that the agreement could be reached “very soon.”

Reeves, making the first visit to the region by a British finance minister in six years, will seek to advance trade talks while attending ’s flagship investment summit.

She planned to use the trip to speak with her counterparts from Bahrain, Kuwait and Qatar to try to progress a trade deal with the Gulf Cooperation Council — a six-nation group.

British administrations have sought to reach an agreement with the GCC after the UK left the EU in 2020.

Reeves also expected to meet senior Saudi royals, members of President Donald Trump’s administration and business figures while in for a gathering of global political leaders and company chief executives.

Last year ’s Public Investment Fund bought a 15 percent stake in London’s Heathrow Airport from Spanish construction company Ferrovial and Britain said it expected further investment announcements this week.

New state-owned airline Riyadh Air, which ordered 25 partly British-built Airbus A350 aircraft in June, has announced its inaugural flight will be to Heathrow.

Britain’s finance ministry said it estimated a GCC trade deal would add £1.6 billion ($2.2 billion) a year to British economic output — equivalent to about 0.06 percent of annual gross domestic product.

Prime Minister Keir Starmer visited and the UAE last year.


Saudi Industrial Hackathon winners to receive special program to implement ideas in factories 

Saudi Industrial Hackathon winners to receive special program to implement ideas in factories 
Updated 27 October 2025

Saudi Industrial Hackathon winners to receive special program to implement ideas in factories 

Saudi Industrial Hackathon winners to receive special program to implement ideas in factories 

RIYADH: Winners of the fourth Industrial Hackathon will gain access to a special program that helps turn their ideas into reality through implementation by Saudi factories for potential investment returns, revealed a senior minister. 

In an interview with Al-Eqtisadiah, Minister of Industry and Mineral Resources and Chairman of the Board of Directors of the Saudi Industrial Development Fund Bandar Alkhorayef emphasized the importance of supporting young innovators and following up on their projects. 

The camp featured 229 contestants representing 60 teams across four main tracks: design, production, sustainability, and automation — the latter newly introduced for this edition. 

According to a statement, total prize money exceeded SR1.7 million ($450,000), distributed among the top three entries in each of the four challenge tracks: Design, Production, Sustainability, and Automation. 

The winners in each track received SR120,000, second-place teams were awarded SR80,000, and those in third-place got SR60,000, recognizing their creative efforts and innovative contributions across diverse industrial fields. 

He noted that the initiative’s partners from companies and factories play a key role in helping these entrepreneurs develop their ideas, expressing hope that some will become industrialists in the near future. 

This initiative aligns with the hackathon’s broader goal of harnessing the creative potential of citizens and residents to develop innovative solutions to challenges faced by national factories, in support of SIDF’s strategy to foster innovation and industrial development. 

It also reflects the fund’s long-term contribution to the Kingdom’s industrial growth. Over the past 50 years, SIDF has extended loans worth more than SR180 billion to various projects, according to figures released in 2024 to mark its half-century milestone. 

“The Minister of Industry honored the winners of the fourth edition of the Industrial Hackathon training camp, organized by the SIDF. It aims to enable participants to develop their ideas and transform them into innovative industrial solutions, reflecting the Kingdom’s ambitions to support innovation and the industrial sector,” Al-Eqtisadiah reported. 

The event also included hands-on learning components such as the “Fabrication Lab,” where participants could experiment with ideas and build prototypes, and the “Ideas Factory,” a collaborative space for problem-solving and experience sharing. Workshops and enrichment sessions further enhanced participants’ innovation and teamwork skills. 

The Industrial Hackathon is organized in partnership with Riyad Bank, Sipchem, King Abdullah University of Science and Technology, and King Abdulaziz City for Science and Technology, with platinum sponsorship from Ma’aden. 

Established in 1974, SIDF serves as the Kingdom’s main enabler of industrial development. Over the past five decades, it has provided innovative financial and advisory solutions that have supported ’s sustainable industrial transformation