Market News
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Parliament Approves EGAS, Cheiron Mediterranean Agreement
Wednesday 22/07/202619:08:18 PMRead moreParliament Approves EGAS, Cheiron Mediterranean Agreement
Egypt OIL & GAS-
The Energy and Environment Committee of Egypt’s House of Representatives, chaired by Tarek El Molla, has approved a government-drafted law authorizing the Minister of Petroleum and Mineral Resources to conclude an exploration and production (E&P) agreement between the Egyptian Natural Gas Holding Company (EGAS) and Cheiron for the East Alexandria Offshore block in the Mediterranean Sea, El Mal Newspaper reported.
Under the proposed production sharing agreement (PSA), EGAS will receive a non-refundable signature bonus of $1 million. The agreement also requires the contractor to commit a minimum investment of $42.2 million, including the drilling of three exploration wells and the reprocessing of seismic data to support the discovery of new natural gas and crude oil reserves.
The agreement sets a cost recovery ceiling of 40%, while EGAS’ share of profit oil and gas will range between 64% and 70%, depending on production levels and Brent crude prices. The fiscal terms are designed to strike a balance between attracting foreign investment and maximizing economic returns for the state.
According to the explanatory memorandum accompanying the draft law, the East Alexandria Offshore block was offered as part of an international bid round launched by EGAS. Cheiron submitted the winning bid, which was approved by EGAS’ technical committees after being deemed to offer strong economic value and the highest return to the state.
The explanatory memorandum noted that the agreement has completed all required legal and regulatory procedures, including approvals from the Armed Forces Operations Authority at the Ministry of Defence and the Board of Directors of EGAS. The draft law will now proceed through the remaining legislative procedures before the agreement can enter into force.
In July 2026, the Egyptian Cabinet approved four draft petroleum agreements with international companies, involving minimum investments of $52.97 million and the drilling of at least six exploration wells, as part of the government’s strategy to expand exploration activities and attract new investments to the upstream secto -
GUPCO Boosts Crude Production to 71,250 bbl/d, Highest Since 2019
Wednesday 22/07/202619:07:49 PMRead moreGUPCO Boosts Crude Production to 71,250 bbl/d, Highest Since 2019
Egypt OIL & GAS-
Gulf of Suez Petroleum Company (GUPCO), the joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and the UAE’s Dragon Oil, has raised its crude oil production to 71,250 barrels per day (bbl/d), marking the company’s highest output level since July 2019.
This reflects the positive impact of the Ministry of Petroleum and Mineral Resources (MoPMR)’s success in settling investment partners’ dues, which has helped restore production levels as part of its strategy to support domestic output through intensified drilling, exploration, and field development activities, the ministry said in a statement.
The accelerated development of the North Safa offshore field in the Gulf of Suez contributed to this increase, following the start of production from well “SB293-9,” which raised the field’s total output to more than 18,000 bbl/d. Development works included the construction of a new offshore platform, the laying of tie-in pipelines, and upgrades to the production system.
GUPCO also succeeded in commissioning a new turbine compressor at the M36 station in Phase Four, helping to enhance the efficiency of existing wells and boost their productivity.
In parallel, the company continued its successful exploration activities by drilling the Northeast Ramadan Crystal (NER-1X) exploratory well from the Al-Fanar offshore platform, thereby strengthening prospects for sustained production growth.
These results reflect the success of the partnership between the EGPC and Dragon Oil in turning new projects and discoveries into actual production, supporting the launch of more ambitious drilling, development, and exploration programs in the Gulf of Suez region.
Earlier in July, GUPCO announced the entry of the second phase of the North Safa field development project into service. The North Safa field development project remains a major initiative to increase crude oil production, with total investments across its two phases reaching approximately $170 million. -
Maridive Records Rise in Consolidated Net Profit in Q1 2026
Wednesday 22/07/202619:07:20 PMRead moreMaridive Records Rise in Consolidated Net Profit in Q1 2026
Egypt OIL & GAS-
Maridive & Oil Services reported a rise in its consolidated operating revenues amounting to $66.31 million during the first quarter (Q1) of 2026, up from $60.47 million in Q1 2025, according to the company’s consolidated financial disclosure to the EGX.
The Egyptian company also recorded an increase in its net profit reaching $23.24 million in Q1 2026, up from $18.004 million in Q1 2025.
For its standalone results, Maridive reported a 13% year-on-year (YoY) rise in revenues to $20.64 million and a profit in Q1 2026. The company also recorded a net profit after tax of $1.89 million for the quarter, compared with a net loss of $23.96 million in the same period last year.
Founded in 1978 in Port Said, Maridive provides a wide range of services for the oil and gas industry, including offshore vessel operations, diving, subsea construction, maintenance, transportation, and logistics.
Through subsidiaries such as Maridive Offshore Projects (MOP), Maritide, and Ocean Marine, Maridive has expanded its portfolio and regional footprint, operating a fleet of more than 60 marine units across the Mediterranean, Red Sea, Africa, the Caspian Sea, and Latin America.
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Khalda Petroleum Brings New Western Desert Gas Discovery Onstream at 40 mmcf/d
Wednesday 22/07/202619:06:15 PMRead moreKhalda Petroleum Brings New Western Desert Gas Discovery Onstream at 40 mmcf/d
Egypt OIL & GAS-
Khalda Petroleum has started production from the newly discovered Wanda deep natural gas exploration well in Egypt’s Western Desert at an initial rate of 40 million cubic feet per day (mmcf/d). Natural gas flow from the well commenced on June 21, with full tie-in to the national natural gas grid scheduled before the end of July, according to a statement by the Cabinet.
Drilled to a depth of 15,000 feet, electrical logging at the Wanda well indicated positive natural gas-bearing structures. Subsequent production testing confirmed commercial output at 40 mmcf/d. To expedite development, Khalda Petroleum constructed a 10-kilometer (km) production pipeline at an investment of $2.3 million, linking the well directly to existing infrastructure.
The discovery advances the Ministry of Petroleum and Mineral Resources’ (MoPMR) strategy to boost domestic hydrocarbon production and fast-track the development of new discoveries. It also reinforces ongoing exploration efforts in the Western Desert and strengthens Egypt’s domestic natural gas supply.
Khalda Petroleum operates as a joint venture between the Egyptian General Petroleum Corporation (EGPC) and US-based Apache Corporation. The Wanda discovery builds on Khalda Petroleum’s recent operational progress in the Western Desert, where the company added more than 10,000 barrels per day (bbl/d) of crude oil and condensates in June 2026. -
Standard Chartered: Clearing IOC Arrears Boosts Egypt’s Outlook
Wednesday 22/07/202619:05:41 PMRead moreStandard Chartered: Clearing IOC Arrears Boosts Egypt’s Outlook
Egypt OIL & GAS-
The recent settlement of overdue payments owed to international oil companies (IOCs) marks a significant positive indicator for Egypt’s medium-term economic outlook, according to Standard Chartered’s July 2026 report.
The bank noted that the repayment comes alongside investment commitments exceeding $6 billion in oil and gas exploration and production (E&P) activities, a development expected to support injecting more investments into the energy sector and support higher domestic production.
Egypt has accelerated payments of all overdue debts to IOCs over the past two years under a regular monthly schedule. The country’s arrears stood at about $6.1 billion in June 2024, before declining to $1.3 billion by December 2025. The balance fell further to $770 million in April 2026, then to $440 million in May 2026, before being fully cleared in June 2026.
Standard Chartered is a global bank specializing in corporate and investment banking, wealth management, and treasury services. It operates globally, with a strong focus on Asia, Africa, and the Middle East, connecting institutional, corporate, and affluent clients to sustainable growth opportunities. -
Egypt Expands Strategic Fuel Reserves to Counter Regional Tensions
Wednesday 22/07/202619:05:16 PMRead moreEgypt Expands Strategic Fuel Reserves to Counter Regional Tensions
Egypt OIL & GAS-
Prime Minister Mostafa Madbouly announced that Egypt is proactively strengthening its energy security by increasing strategic reserves of petroleum products and other essential commodities, according to a statement released by the Cabinet.
These measures aim to protect the economy from disruptions caused by ongoing regional tensions, which are impacting shipping corridors—especially those critical to fossil fuel transit.
This precaution underscores Egypt’s commitment to ensuring fuel availability and maintaining economic stability.
The meeting also emphasized Egypt’s efforts to enhance economic cooperation and establish partnerships in sectors such as energy, electricity, renewable energy, transport, and infrastructure.
These actions aim to deepen international cooperation while bolstering domestic energy security through higher fuel reserves and diversified partnerships.
The Cabinet emphasized Egypt’s dual focus on strengthening regional economic ties and safeguarding its oil and gas supply, identifying expanded petroleum inventories as a key response to growing geopolitical uncertainty.
Egypt relies heavily on regional pipeline imports, making its energy grid vulnerable to sudden supply interruptions triggered by neighboring geopolitical flare-ups. Domestically, declining production in key gas fields, coupled with surging electricity demand during summer heatwaves, is straining the national power grid.
In addition to the energy-focused measures, the Cabinet approved recommendations from the State-Owned Enterprises Unit, which include establishing seven new companies and increasing equity contributions to several existing firms.
One notable approval involved the Egyptian Mineral Resources Authority (EMRA), whose investment arm (the Mineral Resources & Mining Industries Authority) has been cleared to establish a new Egyptian joint-stock entity, the Nile Ferchem for Phosphate Fertilizers Company. -
Egypt Launches Phosphate Fertilizer Project Amid Push for Mining Growth
Wednesday 22/07/202619:04:54 PMRead moreEgypt Launches Phosphate Fertilizer Project Amid Push for Mining Growth
Egypt OIL & GAS-
The Egyptian Mineral Resources and Mining Industries Authority (MRMIA), the New Valley for Mineral Resources and Oil Clay (WADICO), and Elsewedy Capital Holding for Investments signed a shareholders’ agreement to establish a company to develop, construct, manage, and operate an integrated phosphate fertilizer production plant in Ain Sokhna.
The signing took place in the presence of Karim Badawi, Minister of Petroleum and Mineral Resources, and Ahmed Elsewedy, Chairman of Elsewedy Capital Holding for Investments. The agreement comes in Implementation of the Ministry of Petroleum and Mineral Resources’ strategy to maximize the added value of the country’s mineral resources.
Signing the contract were Yasser Ramadan, Chairman of MRMIA; Reda Selim, Chairman and Managing Director of WADICO; and Abdelrahman Elsewedy, CEO of Elsewedy Digital, on behalf of Elsewedy Capital Holding.
The project will produce phosphate fertilizers to meet domestic demand and export the excess, thereby increasing foreign currency revenues, supporting food security, and creating new employment opportunities.
Badawi said Egypt’s mining sector is witnessing legislative and institutional reforms that have enhanced the country’s investment attractiveness. He highlighted the transformation of the Mineral Resources Authority into an economic authority (The Mineral Resources and Mining Industries Authority), granting it greater flexibility to partner with investors and implement major projects.
Egypt, with 2.8 billion tons of phosphate reserves (the world’s third largest), has major deposits in the Red Sea and New Valley regions, including 1 billion tons at Abu Tartour. The government is pursuing value-added processing through large-scale projects such as the Abu Tartour Phosphoric Acid Complex, a 450,000-ton-per-year facility now in its implementation phase, and a $1 billion integrated complex in Ain Sokhna, which will produce 300,000 tons per year each of phosphoric acid and DAP/TSP fertilizers.
Earlier in July, Badawi and Elsewedy discussed the final preparations for the first phase of the integrated phosphate industries complex in Ain Sokhna. The complex, signed in November with total investments of $1 billion, contains three phases. The first phase focuses on the production of phosphoric acid and DAP/TSP fertilizers, each with a capacity of 300,000 tons per year (t/y). The second phase (2029-2031) aims to produce high-purity specialized phosphate chemicals. Meanwhile, in the third phase (2032-2034), the complex targets expanding to new energy materials for the production of electric battery components. -
Saudi Steel Pipe Co. Announces Contract Sign Off with Saudi Aramco
Wednesday 22/07/202619:03:34 PMRead moreSaudi Steel Pipe Co. Announces Contract Sign Off with Saudi Aramco
Tadawul-
Element List Explanation
Introduction Saudi Steel Pipe Company announces the award of an order amounting to approximately SAR 92.7 Million for the supply of Oil & Gas Steel Pipes to Saudi Aramco.
Date of Announcement of the Award 2026-07-22 Corresponding to 1448-02-08
Contract Subject Matter Supply of Oil & Gas Steel Pipes to Saudi Aramco.
The Entity with Which the Contract was Signed Saudi Aramco
Date of Signing the Contract 2026-07-22 Corresponding to 1448-02-08
Contract Value Approximately SAR 92.7 Million
Contract Details Purchase order amounting to approximately SAR 92.7 Million for the supply of Oil & Gas coated Steel Pipes to Saudi Aramco.
Contract Duration Up to 10 months
Financial Impact and the Relevant Period The financial impact of this order is expected to materialize in the first half of fiscal year 2027.
Related Parties Not applicable.
Additional Information Not applicable. -
Yanbu National Petrochemical Company (YANSAB) announces Board decision to distribute interim cash dividends to Shareholders for the first half of 2026
Wednesday 22/07/202619:03:19 PMRead moreYanbu National Petrochemical Company (YANSAB) announces Board decision to distribute interim cash dividends to Shareholders for the first half of 2026
Tadawul-
Element List Explanation
Introduction -
Date of the board’s decision 2026-07-22 Corresponding to 1448-02-08
The Total amount distributed 562,500,000 SR
Number of Shares Eligible for Dividends 562,500,000 Shares
Dividend per share 1 SR Per Share
Percentage of Dividend to the Share Par Value (%) 10
Eligibility date 2026-09-06 Corresponding to 1448-03-24
Distribution Date 2026-09-28 Corresponding to 1448-04-17
The name of other official authorities and the details of their non-refusal to the recommendation or decision Not Applicable
Additional Information The eligibility date is on Sunday 24 Rabi Al-Awwal 1448H corresponding to 06 September 2026, The eligibility of Cash dividend will be to Shareholders who own the company shares on the Eligibility date and enrolled in the Company's register at Securities Depository Center Company (Edaa) by the end of the second trading day following the due date.
The company calls upon its Shareholders to quickly update their data and ensure that their bank account numbers are linked to their investment portfolios to ensure that their dividend are deposited in their accounts with the banks on the distribution day.
The company would like to draw the attention of non-resident investors, the dividend paid by the Company is subject to a withholding tax of 5% upon transfer to non-resident investors or credited to their bank accounts according to the provisions of Article (68) of the Income Tax Law and Article (63) of its Implementing Regulations.
Accordingly, the company emphasize to non-resident investors who have tax exemptions on dividends issued by the Zakat, Tax and Customs Authority, to communicate with the company within 5 five calendar days from the eligibility date and to provide the company with documents supporting tax exemption.
For more inquiries, please contact Investor Relations Department at:
Yanbu National Petrochemical Company (YANSAB) P.O.Box 31396 Yanbu Industrial City 41912, Fax Number 014-3259509 or Phone Number 014-3259514 or through E-Mail Shares@Yansab.sabic.com -
Elm Company Announces the Award of a Contract to Develop and Operate the Product Safety System for Regulated Products of the Saudi Standards, Metrology and Quality Organization (SASO)
Wednesday 22/07/202619:03:03 PMRead moreElm Company Announces the Award of a Contract to Develop and Operate the Product Safety System for Regulated Products of the Saudi Standards, Metrology and Quality Organization (SASO)
Tadawul-
Element List Explanation
Date of the Award 2026-07-22 Corresponding to 1448-02-08
Counterparty Saudi Standards, Metrology and Quality Organization (SASO)
Contract Value The company's expected revenue during the term of the contract is approximately 15% of the company's total revenues, according to the audited annual financial statements for the fiscal year 2025.
It is worth noting that the contract is a revenue-sharing contract, and its value is linked to the number of transactions executed, and the contract does not include a fixed total amount.
Contract Details Developing and operating the product safety system for regulated products of the Saudi Standards, Metrology and Quality Organization (SASO), which includes the development of an integrated digital platform that forms the technical infrastructure of the system, along with the execution of other operational tasks. It is also worth noting that the contract duration will be five years.
Related Parties NA
Additional Information There is no legal or financial obligation towards the company during this stage unless the contract is signed, and the company will announce any material developments in this regard in accordance with the relevant rules and regulations. -
Announcement by Arabian Cement Company regarding the latest updates related to signing shares swap agreement by its subsidiary
Wednesday 22/07/202619:02:47 PMRead moreAnnouncement by Arabian Cement Company regarding the latest updates related to signing shares swap agreement by its subsidiary
Tadawul-
Element List Explanation
Introduction Further to Arabian Cement Company’s announcement published on Tadawul website dated 09-07-1447H corresponding to 29-12-2025 regarding signing shares swap agreement by its subsidiary, the company would like to declare the following changes in the deal structure:
a) “Arabian Cement Bahrain Holding Company” will sell part of its shareholding interest in “Ready Mix Concrete and Construction Supplies Company” in the Hashemite Kingdom of Jordan amounting to 7,300,000 shares to “Al Hejaz Company for Cement, LLC” (Sister company of Ready Mix Concrete and Construction Supplies Company) at share price of JOD 1.3 and total value JOD 9.5 million (Approximately SAR 50.3 million).
b) “Arabian Cement Bahrain Holding Company” will buy the shareholding interest of “Ready Mix Concrete and Construction Supplies Company” in “Qatrana Cement Company” in the Hashemite Kingdom of Jordan amounting to 6,245,246 shares at share price of JOD 1 and total value JOD 6.2 million (Approximately SAR 33.1 million).
c) “Arabian Cement Bahrain Holding Company” will execute share swap transaction for the remaining balance of its shareholding interest in “Ready Mix Concrete and Construction Supplies Company” amounting to 1,851,666 shares with “Al Rawsha company for trading and investment”, in exchange for “Al Rawsha company for trading and investment” shareholding interest in "Qatrana Cement Company” amounting to 2,272,727 shares.
Previous Announcement Arabian cement company announces signing shares swap agreement by its subsidiary
Date of Previous Announcement on Saudi Exchange’s Website 2025-12-29 Corresponding to 1447-07-09
Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here
Latest Developments Of The Announced Event The final financial impact will be announced upon the completion of the transaction, and the company would like to confirm that the final expected outcome of the above deal structure will match what was previously declared.
Reasons For The Delay on The Date of The Event Previously Announced Not Applicable
The costs associated with the event, and if they have changed or not with indication of the reasons. Not Applicable
Delay consequences on the Company’s financial results Not Applicable
Additional Information Not Applicable -
Addendum Announcement from Saudi Real Estate Co (“Al-Akaria”) in regards to Saudi Real Estate Company Announces the Lifting of the Restriction on One of Its Land Plots Located in North Riyadh
Wednesday 22/07/202619:02:28 PMRead moreAddendum Announcement from Saudi Real Estate Co (“Al-Akaria”) in regards to Saudi Real Estate Company Announces the Lifting of the Restriction on One of Its Land Plots Located in North Riyadh
Tadawul-
Element List Explanation
Introduction With reference to the announcement by Saudi Real Estate Company (“Al Akaria” or the “Company”) regarding the lifting of the restriction on the land owned by the Company and located in Al Aarid District, north of Riyadh, based on the Title Registration Deed issued by the Real Estate Registry. The land has a total area of 30,000 square metres and is situated within the commercial corridor between King Fahd Road and Olaya Road.
The Company would like to clarify that it became aware of the lifting of the restrictions on the Al Aarid land on 13 July 2026
Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website 2026-07-14 Corresponding to 1448-01-29
Hyperlink to the Previous Announcement Click Here
Change on the Development The Company would like to clarify that it became aware of the lifting of the restrictions on the Al Aarid land on 13 July 2026
Financial Impact on the change None
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Digital Research Company (DRC) Announces to its Shareholders the Starting Date of the Electronic Voting on the Agenda Items of the Extraordinary General Assembly Meeting - Reminder announcement
Wednesday 22/07/202619:02:11 PMRead moreDigital Research Company (DRC) Announces to its Shareholders the Starting Date of the Electronic Voting on the Agenda Items of the Extraordinary General Assembly Meeting - Reminder announcement
Tadawul-
lement List Explanation
Announcement Detail Further to the announcement made by Digital Research Company (DRC) on the Saudi Stock Exchange website (Tadawul)
30/06/2026 regarding the invitation to attend the Extraordinary General Assembly Meeting (EGM) to be held on Monday 27/07/2026 at7:00 PM in Riyadh by means of modern technology, Digital Research Company (DRC ) wishes to remind its shareholders, who are registered in Tadawulaty, that they can remotely vote on the agenda of the EGM starting on Thursday 23/07/2026 ,1:00 AM, until the end of the EGM.
Please note that registration in Tadawulaty service and voting is provided free of charge for all shareholders through the following link:
http://tadawulaty.com.sa
In the event of any inquiries, please contact the Company’s Investor Relations through the E-mail: IR@drc.net.sa
Telephone: 920003485 -
Mohammed Hassan Al-Naqool Sons Company announces the date for the commencement of electronic voting on the items of the Extraordinary General Assembly meeting, including the increase of capital (first meeting), through modern technology (reminder announcement).
Wednesday 22/07/202619:01:54 PMRead moreMohammed Hassan Al-Naqool Sons Company announces the date for the commencement of electronic voting on the items of the Extraordinary General Assembly meeting, including the increase of capital (first meeting), through modern technology (reminder announcement).
Tadawul-
Element List Explanation
Announcement Detail With reference to the announcement by Mohammed Hassan Al-Naqool Sons Company on the Tadawul website on Sunday, January 20, 1448 AH (July 5, 2026), regarding the invitation to its shareholders to attend the Extraordinary General Assembly Meeting (First Meeting), scheduled to be held, God willing, at 7:00 PM on Monday, July 27, 2026, via modern technology.
Mohammed Hassan Al-Naqool Sons Company would like to remind its valued shareholders registered with Tadawulaty services to vote electronically remotely on the items of the General Assembly's agenda, starting at 1:00 AM on Thursday, July 23, 2026, until the end of the meeting. Registration and voting through Tadawulaty services will be available free of charge to all shareholders using the following link:
(www.tadawulaty.com.sa)
A detailed explanation of the electronic voting process is attached.
Shareholders can submit questions and inquiries regarding the association by contacting the Shareholder Relations Department during official working hours via the phone number and email address below:
Phone: 8001010990
Email: alnaqool@alnaqool.com
May God grant us success. -
KEIR International Company Announces the Receipt of Two Letters of Consent from Creditors Regarding the Use of a Portion of Outstanding Receivables as Part of the Proposed Capital Restructuring through the Conversion of Debt into Shares.
Wednesday 22/07/202619:01:37 PMRead moreKEIR International Company Announces the Receipt of Two Letters of Consent from Creditors Regarding the Use of a Portion of Outstanding Receivables as Part of the Proposed Capital Restructuring through the Conversion of Debt into Shares.
Tadawul-
Element List Explanation
Announcement Detail Keir International Company announces that, on 21/07/2026, it received two letters of consent from Irad Holding Company, one of the Company's major shareholders, and Mr. Mohammed bin Ali Al-Dhalaan, confirming their approval to use part of their outstanding receivables from the Company in connection with any future action the Company may undertake to restructure its capital through the conversion of debt into shares, in support of the Company's financial position, subject to the completion of all required regulatory procedures and the obtaining of the necessary approvals.
The letter from Irad Holding Company includes its approval to make the outstanding receivables due to it and its subsidiary, Modern Generation for Operation Systems Company, from the Company as of 30/06/2026, totaling SAR 18,250,325, available for use in connection with any future action the Company may undertake to restructure its capital through the conversion of debt into shares, in accordance with the applicable regulatory procedures and after obtaining the approvals of the competent authorities and the Extraordinary General Assembly, where required.
The letter from Mr. Mohammed bin Ali Al-Dhalaan also includes his approval to use SAR 10,000,000 of his outstanding receivables from the Company as of 30/06/2026 in connection with any future action the Company may undertake to restructure its capital through the conversion of debt into shares, in accordance with the applicable regulatory procedures and after obtaining the approvals of the competent authorities and the Extraordinary General Assembly, where required.
There is no financial impact at the present time, as the two letters of consent constitute preliminary approvals subject to the completion of all required regulatory procedures and the receipt of the relevant approvals.
Related Parties: Mr. Mohammed bin Ali Al-Dhalaan.
Irad Holding Company (one of the Company's major shareholders).
This development comes as part of the Company's efforts to evaluate appropriate alternatives for restructuring its capital and strengthening its financial position, including the proposed conversion of certain outstanding debts into newly issued shares, following the completion of the necessary studies and receipt of the required regulatory approvals. The Company will disclose any material developments in due course in accordance with the applicable laws and regulations. -
Cherry Trading Co. announces the opening of the nomination period for the board of director’s membership
Wednesday 22/07/202619:01:21 PMRead moreCherry Trading Co. announces the opening of the nomination period for the board of director’s membership
Tadawul-
Element List Explanation
Introduction Cherry Trading Company announces the opening of the nomination period for membership on the Board of Directors to fill the newly created Board seats, for the remainder of the current Board term, which commenced on 20 December 2024 and will continue for a period of four years, ending on 19 December 2028.
The nomination period for Board membership shall remain open for thirty (30) calendar days, commencing on 23 July 2026 and ending on 22 August 2026, in accordance with the terms and conditions set out in the Company's previous announcement regarding the opening of nominations for Board membership.
Accordingly, individuals wishing to nominate themselves for membership on the Board of Directors, who satisfy the eligibility requirements and qualifications for Board membership, are invited to submit their nomination applications within the specified nomination period and in accordance with the procedures and details set out in this announcement.
The members of the Board of Directors will be elected from among the candidates who satisfy the prescribed eligibility requirements at the Company's General Assembly meeting, the date of which will be announced at a later stage after obtaining the necessary approvals from the competent authorities
Type of Assembly Supplementary Session
Term Start Date 2026-12-20
Term End Date 2028-12-19
Number of members 3
Nomination Start Date 2026-07-23 Corresponding to 1448-02-09
Nomination End Date 2026-08-22 Corresponding to 1448-03-09
Applications Submission Method Nomination applications, together with all required supporting documents and the attached forms, must be submitted to the Nomination and Remuneration Committee before the end of the nomination period specified in the announcement, through either of the following channels:
1- Hand Delivery:
Submit the application to the Board Secretariat at the Company's head office located in Granada District, Dammam Road Branch, Riyadh, during official working hours from 8:00 a.m. to 4:00 p.m.
Contact: +966 53 229 9340
2- Email:
Submit the application electronically to: ir@cherry.com.sa
The Nomination and Remuneration Committee reserves the right to reject any nomination application that does not satisfy the prescribed eligibility requirements or is submitted without the required documents, in accordance with the Board Membership Policy and Criteria, without any obligation to notify the applicant.
For further information or inquiries, please contact us via the email address provided above.
Policy and criteria of nomination Candidates must satisfy the eligibility requirements for membership on the Board of Directors as set out in the Companies Law, its Implementing Regulations, the Corporate Governance Regulations issued by the Capital Market Authority, the Company's Articles of Association, and the Board Membership Policy and Criteria of Shari Trading Company, attached.
Candidates are required to submit the following documents and information during the nomination period specified in the announcement:
1. A completed form confirming compliance with the Board membership requirements approved by the General Assembly, attached.
2. A signed nomination letter addressed to the Nomination and Remuneration Committee, expressing the candidate's desire to stand for election, attached. The letter must be accompanied by the candidate's curriculum vitae, qualifications, and relevant experience in the Company's field of business.
3. A completed Form No. 1 (Curriculum Vitae), submitted in both Arabic and English, attached, with all required information duly completed.
4. A signed copy of CMA Form No. 3 for nomination to the Board of Directors, attached, completed with all required information. The form is available on the Capital Market Authority's website at [www.cma.org.sa](http://www.cma.org.sa).
5. A statement setting out the details of all memberships held, whether current or previous, on the boards of directors of other joint-stock companies and any committees in which the candidate has served or continues to serve.
6. A statement providing details of any companies or establishments owned or managed by the candidate that conduct activities similar to those of the Company.
7. A clear and valid copy of the candidate's National ID, Family Register, if applicable, passport for non-Saudi candidates, the candidate's contact details, and a recent personal photograph.
8. All documents and certificates submitted with the nomination application must be in Arabic and duly certified by the competent authorities. Any document issued in a foreign language must be accompanied by a certified Arabic translation.
Candidates are required to be familiar with, and comply with, all applicable laws and regulations, including the regulations issued by the Capital Market Authority. Each candidate shall be solely responsible for ensuring compliance with these requirements.
The Nomination and Remuneration Committee will review all nomination applications in accordance with Article 62, Paragraph 2 of the Corporate Governance Regulations.
Voting at the General Assembly meeting shall be limited to candidates who satisfy the conditions, requirements, and criteria set out in this announcement. The election of Board members will be conducted using the cumulative voting method.
Attachment of the CMA approved resume for the nominees for board memberships in the joint-stock companies listed on the Saudi Exchange -
Middle East Healthcare Company (Saudi German Health) Announces the Formation of the Audit Committee
Wednesday 22/07/202619:01:02 PMRead moreMiddle East Healthcare Company (Saudi German Health) Announces the Formation of the Audit Committee
Tadawul-
Element List Explanation
Introduction Middle East Healthcare Company (Saudi German Health) is pleased to announce the Board of Directors’ resolution issued at its meeting held on 21/07/2026 corresponding to 07/02/1448H, to form the Audit Committee for the new Board term. The Committee’s term will commence on 22/07/2026 and will continue until 07/07/2030, in line with the conclusion of the current Board term.
The Audit Committee consists of the following members:
1. Mr. Mater Saud Hatilan Al Enazi (Independent Board Member) – Committee Chairman
2. Dr. Osama Sadik Abdurrahman Tayeb (Independent Board Member) – Member
3. Mr. Khaled Mohammed Ali Al Harfi (Non-Board Member) – Member
4. Mr. Atif Mustafa Ghulam Khan (Non-Board Member) – Member
Element List Explanation
Appointed Member Name Mr. Mater Saud Hatilan Al Enazi
Membership Start Date 2026-07-22 Corresponding to 1448-02-08
Brief Resume of the Appointed Member Mr. Mater Alenazi has more than 20 years of experience in finance accounting, governance investment and risk management. He currently serves as Chief Financial Officer of Qassim Cement Company and Chairman of the Audit Committee at Al Yamamah Steel Industries Company. He previously held senior financial positions at Tawuniya Ajlan Holding Group Saudi Arabian Military Industries (SAMI) ACWA Power and the Saudi Arabian General Investment Authority. He holds an Executive Master of Business Administration from King Fahd University of Petroleum and Minerals and a bachelor’s degree in accounting from King Saud University. He also completed an executive program in Corporate Finance and Portfolio Management at London Business School.
The date of the approval by other official authorities N/A
Element List Explanation
Appointed Member Name Dr. Osama Sadik Abdurrahman Tayeb
Membership Start Date 2026-07-22 Corresponding to 1448-02-08
Brief Resume of the Appointed Member Dr. Osama Tayeb has extensive experience in the academic administrative and healthcare sectors. He currently serves as Chairman of the Board of Al Mobdeoon Company Vice Chairman of the Board of Managers of Bahij Vocational Training Company and a member of the Board of Trustees of the University of Science and Technology. He previously served as President and Vice President of King Abdulaziz University Dean of the Faculty of Medicine at King Abdulaziz University and General Manager of Dr. Bakhsh Hospitals Group. He holds a PhD in Pharmacology from Vanderbilt University in the United States and a Bachelor of Pharmaceutical Sciences from King Saud University.
The date of the approval by other official authorities N/A
Element List Explanation
Appointed Member Name Mr. Khaled Mohammed Ali Al Harfi
Membership Start Date 2026-07-22 Corresponding to 1448-02-08
Brief Resume of the Appointed Member Mr. Khaled Al Harfi has more than 10 years of experience in internal and external audit risk management and internal controls. He currently serves as Head of Internal Audit at Remat Al-Riyadh Development Company. He previously held several positions at the Saudi Electricity Company the General Authority of Foreign Trade the Center for National Health Insurance King Faisal Specialist Hospital International Holding Company National Medical Care Company and Ernst & Young. He also serves on several audit committees. He holds an MBA in Accounting and a bachelor’s degree in accounting and is a Certified Internal Auditor (CIA) and Certified Fraud Examiner (CFE).
The date of the approval by other official authorities N/A
Element List Explanation
Appointed Member Name Mr. Atif Mustafa Ghulam Khan
Membership Start Date 2026-07-22 Corresponding to 1448-02-08
Brief Resume of the Appointed Member Mr. Atif Mustafa has more than 14 years of experience in accounting, auditing financial reporting, financial planning acquisitions and financial governance. He currently serves as Vice President of Accounting and Reporting at King Salman International Airport Development Company. He previously worked at Saudi Arabian Military Industries (SAMI) Atheeb Group and Deloitte. He currently serves as a member of the Audit Committee of Saudi Leather Industries Company. He is an Associate Chartered Accountant with the Institute of Chartered Accountants in England and Wales (ACA) and a member of the Association of Chartered Certified Accountants (ACCA). He also holds a Bachelor of Commerce from the University of the Punjab.
The date of the approval by other official authorities N/A
Element List Explanation
Date of Board Meeting in which Appointed New Member(s) were Appointed 2026-07-21 Corresponding to 1448-02-07 -
Al-Jazira Takaful Taawuni Company Announces that it has obtained an Insurer Financial Strength (IFS) Rating of 'BBB+' and a National IFS Rating of 'AA- (sau)' with a Stable Outlook from Fitch Ratings
Wednesday 22/07/202619:00:05 PMRead moreAl-Jazira Takaful Taawuni Company Announces that it has obtained an Insurer Financial Strength (IFS) Rating of 'BBB+' and a National IFS Rating of 'AA- (sau)' with a Stable Outlook from Fitch Ratings
Tadawul-
Element List Explanation
Announcement Detail Al Jazira Takaful Tawuni Company Announces that it has obtained an Insurer Financial Strength (IFS) Rating of 'BBB+' and a National IFS Rating of 'AA- (sau)' with a Stable Outlook from Fitch Ratings.
Fitch also noted in its statement that Al Jazira Takaful Tawuni Company ratings reflects a very strong capitalization, resilient earnings, and its well-established life insurance franchise. -
Scientific & Medical Equipment House Co. Announces the Commencement of Electronic Voting on the Agenda Items of the Extraordinary General Assembly 4Th Meeting (First Meeting) Reminder Announcement
Wednesday 22/07/202618:59:49 PMRead moreScientific & Medical Equipment House Co. Announces the Commencement of Electronic Voting on the Agenda Items of the Extraordinary General Assembly 4Th Meeting (First Meeting) Reminder Announcement
Tadawul-
Element List Explanation
Announcement Detail Reference is made to the announcement by Scientific & Medical Equipment House Co. on the Saudi Exchange (Tadawul) website on 05-07-2026G corresponding to 20-01-1448H regarding the invitation to its shareholders to attend the Extraordinary General Assembly 4Th Meeting (First Meeting), which is scheduled to be held, God willing, at 7:30 PM on Monday, 27-07-2026G corresponding to 13-02-1448H, through modern technology means (remotely).
Scientific & Medical Equipment House Co. is pleased to remind its valued shareholders that electronic voting on the agenda items of the Extraordinary General Assembly 4Th Meeting (First Meeting) will be available to shareholders registered on the Tadawulaty platform starting from 1:00 AM on Thursday, 23-07-2026G corresponding to 09-02-1448H, and will continue until the end of the Extraordinary General Assembly Meeting.
Registration and voting services are available free of charge to all shareholders through the Tadawulaty website at:
https://www.tadawulaty.com.sa
For further information or inquiries regarding the voting mechanism or the agenda items of the General Assembly Meeting, please contact the Company’s Investor Relations Department:
* Tel: (+966) 11 464 6699, Ext. (580)
* Mobile: (+966) 58 006 5899
* E-mail: Investor.Relations@smeh.com.sa
During the Company’s official working hours, from Sunday to Thursday, 9:00 AM to 5:00 PM.
Attached is an explanatory guide for the electronic voting process. -
US Stocks Advance on Chipmaker Rally
Wednesday 22/07/202618:59:01 PMRead moreUS Stocks Advance on Chipmaker Rally
Trading Economics-
US stock indices closed higher on Tuesday as a rally in chipmakers lifted the broader market. The S&P 500 added 0.9%, the Nasdaq 100 advanced 1.9%, and the Dow Jones gained 385 points. Semiconductor stocks extended their rebound from last week's rout after strong export data from Taiwan and South Korea reinforced optimism for the sector. Nvidia gained 2% after saying its latest chip designs are reaching customers, while Intel climbed 8.6% on plans for job cuts. Micron (+12.2%), Sandisk (+14.3%), and AMD (+8.1%) surged. The sector rallied ahead of Alphabet's (-1.4%) earnings on Wednesday, which are expected to provide fresh signals on AI infrastructure demand from hyperscalers. Meanwhile, other sectors stabilized despite further escalation between the US and Iran and the resulting rise in oil prices. Treasury yields remained elevated, limiting gains in financial stocks. Elsewhere, GM rose 4.9 % after reporting earnings, while Charles Schwab fell 2.5% after missing estimates. -
South Korea Producer Inflation Remains at 4-Year High
Wednesday 22/07/202618:58:29 PMRead moreSouth Korea Producer Inflation Remains at 4-Year High
Trading Economics-
South Korea's producer prices rose 8.6% year-on-year in June 2026, the same pace as in May, which was the strongest increase since July 2022. Manufacturing producer prices climbed 13.2%, led by a 65.8% surge in coal and petroleum products. Prices for computers, electronic and optical equipment rose 24.6%, while chemical products increased 19.2% and basic metal products advanced 16.0%. Meanwhile, prices of agricultural, forestry, and marine products rose 4.8%, supported by a 10.0% increase in livestock prices. Service prices also increased 4.9%, driven by a 35.2% jump in financial and insurance activities, while utility prices rose 1.3%. On a monthly basis, the Producer Price Index was unchanged in June after rising 1.0% in May. -
South Korean Shares Extend Gains on Chip Rally
Wednesday 22/07/202618:57:31 PMRead moreSouth Korean Shares Extend Gains on Chip Rally
Trading Economics-
The benchmark KOSPI rose 0.74% to close at 6,798 on Wednesday, extending gains from the previous session as a rebound in global semiconductor stocks supported investor sentiment. The rally followed gains in US chipmakers, with a key US semiconductor index jumping 5.2%. Investors rotated back into AI-related stocks after upbeat corporate earnings helped ease concerns about the sector's outlook, while upcoming earnings from major US tech companies could provide further signals on AI spending and demand. Samsung Electronics led the advance, rising 0.68%, alongside other notable gainers including Hyundai Motor (4.39%), Samsung Electro-Mechanics (2.90%), LG Energy Solution (1.42%), HD Hyundai Heavy Industries (2.99%), Hyundai Mobis (6.99%), and Doosan Enerbility (3.59%). Meanwhile, rising oil prices amid lingering Middle East tensions and caution ahead of major US technology earnings encouraged profit-taking, limiting further gains. -
China Stocks Mixed as Growth Worries Persist
Wednesday 22/07/202618:57:05 PMRead moreChina Stocks Mixed as Growth Worries Persist
Trading Economics-
The Shanghai Composite closed little changed at 3,867 on Wednesday, while the Shenzhen Component fell 1.42% to 14,061.4, as concerns over China's growth outlook weighed on market sentiment. Recent data showed that the country’s economy slowed to 4.3% year-on-year in Q2 2026, marking its weakest expansion since Q4 2022 and falling below Beijing’s 4.5%–5.0% target range due to weak consumer demand, subdued private-sector investment, and a prolonged property market slump. On Tuesday, China's State Council pledged to take additional measures to secure this year’s growth objectives. Investors are now looking ahead to the Politburo meeting at the end of July, where top leaders are widely expected to outline the economic policy agenda for the remainder of the year. Technology stocks faced renewed pressure, particularly Zhongji Innolight (-6.66%) and Eoptolink Technology (-7.79%). In contrast, energy stocks outperformed, with PetroChina climbing 2.34% and CNOOC Limited surging 4.72%. -
NZX 50 Ends 0.8% Higher as Consumer Stocks Rally
Wednesday 22/07/202618:56:20 PMRead moreNZX 50 Ends 0.8% Higher as Consumer Stocks Rally
Trading Economics-
The NZX 50 advanced 107 points, or 0.8%, to close at 13,763 on Wednesday, hitting its highest level since July 9 and erasing losses from the previous session, mainly supported by gains in consumer discretionary, materials, healthcare, and financial stocks. Consumer discretionary surged 3.8%, buoyed by SkyCity Entertainment, which jumped 12.8% following upgraded earnings forecasts and positive revenue reports. Meanwhile, My Food Bag Group gained 3.6%. Traders shrugged off Wednesday's data, which showed that New Zealand's inflation rate accelerated to the highest level since Q4 2023 in the second quarter (Q2). However, persistently high oil prices capped the gains as inflation concerns fueled expectations of further interest rate hikes, while RBNZ Chief Economist Paul Conway recently warned that sticky inflation could prompt further monetary policy tightening. Among the other top performers were Fisher & Paykel (1.8%), Ryman Healthcare (1.8%), Infratil (1.5%), and A2 Milk (1.3%).
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Miners, Energy Stocks Drive ASX Higher Despite Middle East Tensions
Wednesday 22/07/202618:55:36 PMRead moreMiners, Energy Stocks Drive ASX Higher Despite Middle East Tensions
Trading Economics-
The ASX 200 rose 30 points, or 0.3%, to close at 8,823, lifted by gains in miners, energy names and consumer stocks. Traders sought to reverse recent weakness, as sentiment steadied despite weaker U.S. stock futures amid heightened Middle East tensions, Locally, focus turned to Australia's labor data and July flash PMIs, respectively due on Thursday and Friday. Miners advanced 2.5% on firmer copper, supported by strong Chinese demand and falling inventories. BHP rose 2.3%, and Rio Tinto gained 2.5%. Meanwhile, energy stocks climbed 1.7%, led by Woodside (1.3%) and Santos (1.0%). Also, Evolution Mining surged 4.3%, and Northern Star added 3.5%. In contrast, Lynas Rare Earths slid 3.6% to a five-month low after flagging cost overruns at its Malaysian expansion project and posting weaker-than-expected quarterly revenue.
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Turkey Factory Capacity Usage Eases in July
Wednesday 22/07/202618:54:55 PMRead moreTurkey Factory Capacity Usage Eases in July
Trading Economics-
The manufacturing industry in Turkey operated at 73.9% of its production capacity in July 2026, easing from a one-year high of 74.5% in the previous month. This marked the lowest rate since April, driven mainly by investment goods, where capacity utilization fell to 71.2% from 73.4%, pointing to softer activity in capital-intensive industries. Durable consumer goods also declined to 67.1% from 67.9%, while overall consumer goods utilization eased to 71.4% from 71.8%. Non-durable consumer goods slipped to 72.3% from 72.6%, and food and beverages fell to 72.0% from 72.5%. Meanwhile, intermediate goods remained the strongest-performing category, edging down slightly to 74.9% from 75.0%. -
Japanese Shares End Lower After Volatile Session
Wednesday 22/07/202618:54:31 PMRead moreJapanese Shares End Lower After Volatile Session
Trading Economics-
The Nikkei 225 Index slipped 0.18% to close at 66,115 on Wednesday, reversing gains from earlier in the session as the rally in semiconductor stocks lost steam. Investors also turned cautious ahead of earnings from major US technology companies, including Alphabet and Tesla, to gauge the outlook for the sector. Meanwhile,Among individual stocks, Tokyo Electron (-0.9%), SoftBank Group (-0.8%), and Fast Retailing (-2.8%) posted notable losses, while Kioxia Holdings (5.3%), Taiyo Yuden (6.7%), and Murata Manufacturing (4%) were among the strongest gainers. On the data front, Japan’s trade balance shifted to a deficit in June as import growth outpaced exports. -
Morocco Inflation Slows Further in June
Wednesday 22/07/202618:53:45 PMRead moreMorocco Inflation Slows Further in June
Trading Economics-
Morocco's annual inflation rate slowed sharply to 0.3% in June 2026, slowing for a second consecutive month, down from 1.2% in May. Food prices fell 2.5% year-on-year, deepening from a 0.9% decline in the previous month, while non-food inflation eased to 2.3% from 2.6%. Among major components, price growth moderated for transport (6.7% vs. 8.1%), housing and utilities (1.4% vs. 1.5%), restaurants and hotels (2.1% vs. 2.2%), and clothing and footwear (0.8% vs. 0.9%). Deflation in recreation and culture deepened slightly (-0.2% vs. -0.1%), while prices for communication continued to decline (-0.3%). Meanwhile, inflation remained unchanged for education (2.1%) and furnishings (1.2%), while health costs rose at a slightly faster pace (0.3% vs. 0.2%). On a monthly basis, consumer prices fell 0.4%, following a 0.8% decrease in May.
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Indian Stocks Close Lower
Wednesday 22/07/202618:52:59 PMRead moreIndian Stocks Close Lower
Trading Economics-
Indian stocks closed sharply lower on Wednesday, tracking overnight losses for software companies in Wall Street. The S&P/BSE Sensex dropped 0.9% to 76,755 and the NSE Nifty 50 fell 0.8% to 23,996. Infosys lost 2% and Tech Mahindra dropped 1.2%, aligned with the pullback in the US AI software sector due to unease of higher borrowing costs and worries that elevated infrastructure spending may not bring the expected returns. In the meantime, higher yields also pressured banks, with Axis Bank and ICICI Bank dropping 2% and 1.5%, respectively.Besides raising the inflationary backdrop, the developments pressure the rupee due to the high import burden of energy commodities, driving foreign investors to divest from Indian equities.
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US Stocks Pull Back
Wednesday 22/07/202618:52:02 PMRead moreUS Stocks Pull Back
Trading Economics-
US stock indices were mostly lower on Wednesday as a reversal to the AI rally was combined with the outlook of higher interest rates. The S&P 500 edged down and the Nasdaq 100 fell more than 1%. Micron, Intel, and Sandisk sank nearly 4% while Nvidia inched lower. The sector remained volatile reflecting the market's indecisiveness on whether AI hyperscalers will continue to grow orders for hardware. Insights on the trade are due after the bell with Alphabet's earnings results, the first update after the company's capital expenditure raise last quarter. Tesla dropped 0.5% as it is also due to report, recently testing its lowest price since April.Financials fell, with Amex down 1%. In turn, the Dow was slightly above the flatline. AT&T gained over 4% after its earnings beat, lifting other telecom companies. -
TSX Reaches Record High
Wednesday 22/07/202618:51:25 PMRead moreTSX Reaches Record High
Trading Economics-
The S&P/TSX Composite Index rose near 1% to trade above 35,500, reaching a record high as rising commodity prices supported related stocks. Gold prices gained on safe-haven demand amid escalating tensions between the US and Iran. Agnico Eagle, Barrick, WPM, and Franco-Nevada gained nearly 2%. The conflict also rose concerns over energy supply, lifting oil prices and improving the outlook for producers. Canadian Natural added 1.5%, Imperial Oil gained 1%, while Suncor and Cenovus advanced nearly 2%. Cenovus is scheduled to report earnings on Thursday. Elsewhere, Waste Connections edged higher ahead of its earnings release, due after today's closing bell. Investors are also focused on quarterly results from US tech giants Alphabet and Tesla, scheduled after the close. On the trade front, Prime Minister Carney said late Tuesday that he and US President Trump agreed to intensify trade negotiations after Trump unveiled plans to impose 50% tariffs on a broad range of Canadian imports. -
FTSE 100 Rises to Over 3-Month High
Wednesday 22/07/202618:50:49 PMRead moreFTSE 100 Rises to Over 3-Month High
Trading Economics-
The FTSE 100 climbed more than 1% to above 10,700 on Wednesday, reaching its highest level since March 2, as broad-based gains across banks, healthcare, energy and mining stocks lifted the index. HSBC advanced more than 2%, while Lloyds Banking and Barclays gained over 1.5% and 1%, respectively. Healthcare stocks also strengthened, with AstraZeneca rising 1.7% and GSK adding 0.8%. Oil majors Shell and BP gained 1.4% and 2.1% as crude prices extended their rally amid ongoing tensions between the US and Iran. Mining shares outperformed, with Endeavour Mining surging 5%, Fresnillo climbing 3.5% and Antofagasta adding 2.6%. Investors also assessed softer-than-expected UK inflation data, which showed consumer prices rose 2.6% in June as lower petrol, food and clothing prices eased inflationary pressures. In the FTSE 250, EasyJet tumbled more than 11% after reports that the European Union could review airline ownership rules, potentially complicating the company's takeover.
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DAX 40 Rises to 2-Week High
Wednesday 22/07/202618:50:16 PMRead moreDAX 40 Rises to 2-Week High
Trading Economics-
Frankfurt's DAX 40 gained 0.7% to nearly 25,200 on Wednesday, its highest level in two weeks, as strong corporate earnings and upbeat guidance outweighed concerns over higher oil prices and the inflationary risks linked to escalating tensions in the Middle East. Airbus surged 6.9% after the aircraft manufacturer unveiled ambitious profit targets through 2029, citing sustained demand for commercial jets, while also announcing an earlier-than-expected share buyback program. The optimistic outlook also supported MTU Aero Engines, which rose more than 1%. Elsewhere, Gea jumped over 5% after the industrial equipment maker upgraded its full-year guidance on the back of stronger-than-expected quarterly results. Investors also looked ahead to Thursday's European Central Bank policy meeting, where officials are widely expected to leave interest rates unchanged following June's increase.
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European Stocks Close Higher
Wednesday 22/07/202618:48:04 PMRead moreEuropean Stocks Close Higher
Trading Economics-
European stocks closed firmly higher on Wednesday as strong earnings reports offset a deteriorating macroeconomic backdrop. The Euro STOXX 50 rose 0.5% to 6,319 and the STOXX Europe 600 gained 0.6% to 647. Santander jumped by 1.7% after it reported a 17% annual increase in underlying profit, supported by a higher client base after the takeover of UK lender TSB. Other banks were supported by result, with BBVA adding 2%, while Intesa Sanpaolo gained 1.3% and UniCredit rose 0.7% ahead of its earnings tomorrow. Meanwhile, Airbus surged 7% after upgrading its delivery targets and announcing a €5 billion share buyback programme. Meanwhile, sovereign yields remained near recent peaks as natural gas prices extended their surge. The ECB is due to maintain its rates unchanged tomorrow, although inflationary risks may drive the Governing Council to signal a hawkish outlook.
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Al Mazunah Free Zone Holds Talks with Yemeni Traders to Boost Cross‑Border Trade
Wednesday 22/07/202617:52:21 PMRead moreAl Mazunah Free Zone Holds Talks with Yemeni Traders to Boost Cross‑Border Trade
(ONA)-
Al Mazunah Free Zone today held a coordination meeting with representatives of import and export companies operating in the Yemeni market, attended by Qais bin Mohammed Al Yousef, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ). The meeting highlighted the zone's services and facilitations and reviewed a proposed open market initiative.
Discussions also covered challenges and opportunities for boosting trade and investment flows between Oman and Yemen.
Al Yousef stressed the importance of the meeting in strengthening private sector partnership and addressing investor needs linked to the Yemeni market, to enhance the business environment and the zone's competitiveness.
Eng. Ahmed bin Khamis Al Kasbi, Director General of the zone, said its strategic location near the Yemeni border makes it an ideal logistics and trade platform for import‑export companies. The meeting aimed to encourage companies to establish a permanent presence in the zone, offering additional competitive advantages.
The zone has proposed an open market or permanent exhibition initiative, allocating space for participating companies to consolidate, display and re‑export products to Yemen and other markets. The six‑month pilot phase will allow for evaluation and refinement based on investor feedback. The meeting reviewed proposed incentives and heard company representatives outline key challenges and proposals for improving logistics and procedures. Both sides stressed the need for continued government‑private sector coordination to overcome challenges and boost trade and investment.
The meeting is part of efforts to enhance the zone's attractiveness, develop initiatives leveraging its strategic location, and consolidate its role as a regional hub for trade and logistics serving regional markets, particularly Yemen.
Managed by the Public Establishment for Industrial Estates (Madayn), Al Mazunah Free Zone serves as the Gulf gateway for transit trade to Yemen and East Africa. It offers tax exemptions for up to 30 years, customs duty exemptions, 100 percent foreign ownership, and exemption from minimum capital requirements under Oman’s company law. -
Oman Oil Price Rises by USD 7.72
Wednesday 22/07/202617:51:55 PMRead moreOman Oil Price Rises by USD 7.72
(ONA)–
The official price of Oman crude oil for September delivery settled today at USD 89.51 per barrel.
The price of Oman oil recorded an increase of USD 7.72 today compared to yesterday Tuesday’s closing price of USD 81.79.
It is worth noting that the monthly average price of Oman crude oil for July delivery stood at USD 102.00 per barrel, declining by USD 2.73 from the June delivery price.
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MSX Gains 20 Points
Wednesday 22/07/202617:51:39 PMRead moreMSX Gains 20 Points
(ONA)-
Muscat Stock Exchange "MSX 30" index today closed at 7,111.42 points, up 20.1 points, or 0.284 percent, from the previous session's close of 7,091.30 points.
Trading value stood at RO 40,895,909, representing a rise of 5.8 percent from RO 38,645,581 recorded in the last session, according to the MSX's report.
Market capitalization increased by 0.131% percent from the previous trading day to approximately RO 37.13 billion.
Non‑Omani investors recorded purchases worth RO 6.913 million, accounting for 16.90 percent of total trading value, while sales reached RO 16.717 million, or 40.88 percent. Net non‑Omani investment consequently fell by RO 9.804, or 23.97 percent. -
Blue Economy Investments Drive Diversification and Sustainable Growth in Al Wusta
Wednesday 22/07/202617:51:23 PMRead moreBlue Economy Investments Drive Diversification and Sustainable Growth in Al Wusta
(ONA)-
Al Wusta Governorate continues to invest in blue economy activities, capitalising on its marine assets and the integration of fisheries, ports, logistics and tourism to boost the value of marine resources and advance economic diversification and sustainable development.
Isra Abdullah Al Hadi, a Fisheries Development Specialist at the Ministry of Agriculture, Fisheries and Water Resources, said the governorate's extensive coastline, rich fish stocks and strategic location have made fisheries a key pillar of the blue economy.
In 2024, the governorate ranked first in Oman in fish production, with output reaching about 226,000 tonnes — 25 percent of the national total — valued at over RO 100 million. More than 4,670 registered fishermen, along with 2,357 fishing boats and 124 artisanal vessels, underscore the sector's economic scale.
She added that modern ports and marine infrastructure, particularly the Port of Duqm and the Duqm Multi‑Purpose Fishing Port, have supported fish landing, handling and marketing, provided vessel maintenance and processing facilities, and strengthened logistics and supply chains connecting local production to domestic and international markets.
The economic impact of integrated investments in fisheries, ports, logistics and tourism lies in an interconnected system that maximises marine resource value and generates sustainable returns, Al Hadi told the Oman News Agency (ONA). The system enhances investment appeal, raises product and service competitiveness, expands value chains, and creates direct and indirect jobs in fishing, processing, transport, marketing and support services.
She said that blue economy activities also boost local content by increasing reliance on national products and services and expanding marine‑related value chains, including logistics, manufacturing and marine tourism.
She added that they offer broad opportunities for small and medium enterprises in support services such as vessel maintenance, storage, processing, marketing and marine tourism, strengthening local business growth and the contribution of national enterprises to sustainable development.
She explained that future plans focus on reinforcing Al Wusta's leadership in the blue economy through continued development of marine and logistics infrastructure, expansion of fisheries and aquaculture projects and related manufacturing, and upgrading landing, handling and marketing facilities.
She concluded that plans also include boosting investment linked to the Port of Duqm and the Special Economic Zone at Duqm, developing supply chains and logistics, and encouraging innovation, research and modern technologies in marine activities — enhancing the governorate's investment appeal and consolidating its position as a national hub for the blue economy in line with Oman Vision 2040. -
The stock market is completely green... The Tamayoz index outperforms major stocks and jumps by 7.5%
Wednesday 22/07/202617:50:15 PMRead moreThe stock market is completely green... The Tamayoz index outperforms major stocks and jumps by 7.5%
Youm7-
The Egyptian stock market indices closed the past week with collective gains, supported by a wave of buying activity that included blue-chip stocks and shares of small and medium-sized enterprises (SMEs). This positive performance was reflected in the performance of all major indices, with the "Tamayoz" index leading the gainers, achieving the highest percentage increase during the week.
The main EGX30 index rose by 1.90% during the week, closing at 53,931.92 points, compared to 52,928.06 points at the beginning of the week. It reached a high of 54,152.91 points and a low of 52,472.31 points.
The EGX70 EWI index, which tracks the performance of the EGX70 index, recorded the largest gains among the main indices, rising 3.85% to close at 17,706.12 points, compared to 17,049.97 points at the start of the week. It reached a high of 17,731.59 points and a low of 17,049.97 points.
The EGX100 EWI index also rose by 3.10% during the week, ending trading at 23,597.48 points, compared to 22,887.36 points at the beginning of the period. It reached a high of 23,634.75 points and a low of 22,887.36 points.
The EGX33 index, which tracks the performance of less volatile stocks, rose 1.87% to close at 6,061.20 points, compared to an opening level of 5,950.19 points. It reached a high of 6,106.11 points and a low of 5,899.61 points.
The EGX35-LV index climbed 1.75% to close at 6,368.53 points, after starting the week at 6,259.00 points. It reached a high of 6,385.50 points and a low of 6,240.64 points.
The index opened the week at 6,259.00 points. The EGX30 Capped Index rose 1.59% to close at 66,032.21 points, compared to 64,996.15 points at the start of the week, after reaching a high of 66,416.46 points and a low of 64,547.97 points.
The EGX30 Capped Index led the market's performance during the week, surging 7.48% to close at 32,789.79 points, compared to 30,507.19 points at the beginning of the period. It reached a high of 33,079.74 points and a low of 29,964.71 points, reflecting the strong performance of listed stocks in the small and emerging companies market.
In the debt instruments market, the Treasury Bond Index saw a slight increase of 0.14% during the week, closing at 2,556.48 points, compared to 2,552.78 points at the beginning of the period. The weekly performance of the Egyptian stock market indices reflects an improvement in investor appetite and a broadening of the upward trend to include various market segments, with a clear outperformance of small and medium-sized company stocks over blue-chip stocks, while the main indices continued to achieve high levels supported by the buying activity witnessed in the market throughout the past week. -
Bahrain All Share Index, Islamic Index close lower
Wednesday 22/07/202617:48:47 PMRead moreBahrain All Share Index, Islamic Index close lower
(BNA)-
Bahrain All Share Index has closed at 1,965.10 points, marking a decrease of 1.53 points below the previous closing.
This decrease was due to the drop in the financial sector.
Bahrain Islamic Index has closed at 917.10 points, marking a decrease of 2.94 points below the previous closing.
Results indicated that 84 equity transactions took place with a volume of 1,655,664 worth BD 380,742.
Investors traded mainly in the financial sector, representing 77.24% of the total value of securities traded. -
CBB’s Monthly Issue of Treasury Bills Fully subscribed
Wednesday 22/07/202617:48:30 PMRead moreCBB’s Monthly Issue of Treasury Bills Fully subscribed
(BNA)-
The Central Bank of Bahrain (CBB) announces that the BD 35 million monthly issue of Government Treasury Bills has been fully subscribed by 100%.
The bills, carrying a maturity of 182 days, are issued by the CBB on behalf of the Kingdom of Bahrain.
The issue date of the bills is July 26, and the maturity date is January 24, 2027.
The weighted average rate of interest is 5.62% compared to 5.37% of the previous issue on June 21.
The approximate average price for the issue was 97.236%, with the lowest accepted price being 97.175%.
This is issue No. 2131 (ISIN BH000D32U217) of Government Treasury Bills. With this, the total outstanding value of Government Treasury Bills is BD 2.110 billion. -
Medicare Group's Net Profit Rises 24% in H1 2026
Wednesday 22/07/202617:46:34 PMRead moreMedicare Group's Net Profit Rises 24% in H1 2026
(QNA)-
Medicare Group's net profit went up by 24% in H1 2026 to reach QAR 51.1 million, compared to QAR 41.2 million in H1 2025.
Data released by the group and published on the Qatar Stock Exchange (QSE) website on Tuesday showed an increase in earnings per share to QAR 0.182 for the period ending June 30, 2026, compared to earnings per share of QAR 0.147 for the same period of the previous year. -
AlRayan Bank's Net Profit Down 16% in H1 2026
Wednesday 22/07/202617:46:14 PMRead moreAlRayan Bank's Net Profit Down 16% in H1 2026
(QNA)-
AlRayan Bank's net profit dropped by 16% in H1 2026 to reach QAR 687.5 million, compared to QAR 821.4 million in H1 2025.
Data released by the bank and published on the Qatar Stock Exchange (QSE) website on Tuesday showed a decrease in earnings per share to QAR 0.074 for the period ending June 30, 2026, compared to earnings per share of QAR 0.088 for the same period of the previous year. -
QFC, CCI France Qatar Strengthen Business and Investment Ties
Wednesday 22/07/202617:45:52 PMRead moreQFC, CCI France Qatar Strengthen Business and Investment Ties
(QNA)-
Qatar Financial Centre (QFC) signed a Memorandum of Understanding (MoU) with CCI France Qatar, the French Chamber of Commerce in Qatar, to promote bilateral trade, investment, and business connectivity between Qatar and France.
The MoU establishes a framework for collaboration to strengthen engagement between the French and Qatari business communities and position Qatar, and the QFC platform in particular, as a leading destination for French companies, entrepreneurs, and investors seeking to establish or expand their regional presence.
Under the agreement, both parties will work together to organize joint events, business forums, roundtables, and delegation activities, both in Qatar and France, as well as through digital platforms.
The collaboration also encompasses knowledge-sharing initiatives and cross-promotion of relevant activities through the Parties' respective networks and communication channels.
Commenting on the partnership, QFC Chief Executive Officer Mansoor Rashid Al Khater said, "France is among Qatar's most important economic partners, and this MoU with CCI France Qatar reflects our commitment to deepening that relationship at the business level. By partnering with the French Chamber of Commerce in Qatar, we are creating a structured pathway for French companies to explore the QFC platform and unlock the opportunities that Qatar's dynamic market has to offer."
President of CCI France Qatar Edouard Thevenin said, "We are extremely honored to sign this MoU with QFC, a trusted partner, which further reinforces our long-term strategic partnership built on shared values and a common vision for the future between France and Qatar.
This MoU will strengthen the relationship and partnership between QFC and CCIFQ and, more importantly, it will enhance the economic ties between Qatar and France." -
United Development Company Reports QAR 115m Second-Quarter Net Profit
Wednesday 22/07/202617:45:29 PMRead moreUnited Development Company Reports QAR 115m Second-Quarter Net Profit
(QNA)-
United Development Company (UDC), the master developer of both The Pearl Island and Gewan Island, reported a net profit of QAR 115 million for the second quarter of 2026.
The company said on Tuesday that it generated revenues of QAR 885 million during the quarter, while net profit attributable to shareholders stood at QAR 119 million. Basic earnings per share were QAR 0.034.
Commenting on the results, UDC Chairman Ahmed bin Ali Al Hammadi said the company made "tangible progress" in its development and commercial activities during the second quarter.
He said UDC continued to implement strategic projects aimed at supporting future growth while maintaining strong operational performance, strengthening the appeal of The Pearl Island and Gewan Island as leading destinations for residential living, investment and upscale lifestyles. -
Japan Records Trade Deficit of $6.2 Billion in First 6 Months of 2026
Wednesday 22/07/202617:44:52 PMRead moreJapan Records Trade Deficit of $6.2 Billion in First 6 Months of 2026
(QNA)-
Japan logged a trade deficit of 1.01 trillion yen ($6.2 billion) in the first six months of 2026 amid disruptions of shipments through the Strait of Hormuz affecting imports.
Japan's crude oil imports from the Middle East region fell 26.4% to 47.31 million km, the Japanese Finance Ministry said in a preliminary report, while imports of oil from the US surged 210.3% to 5.7 million km, the highest on record for the six-month period since comparable data became available in 1979, including a 5.6-fold jump to 2.72 million km in June alone, the data showed, Kyodo News Agency reported.
Although the overall deficit shrank 57% in the six months from a year earlier, Japan registered a trade deficit for the 10th straight half-year period.
Data showed that Japan's imports rose 10.7% to 61.67 trillion yen in the first half from a year earlier.
Exports gained 13.7% to 60.66 trillion yen, thanks to robust shipments of semiconductors and other electronic devices, mainly to China, and autos to destinations such as the European Union.
Japan registered a surplus of 3.15 trillion yen with the US. Exports rose on brisk demand for excavators and electric vehicles, but imports increased at a faster pace due to purchases of crude oil, liquefied petroleum gas and petroleum products.
Japan had a trade deficit of 4.64 trillion yen with China.
For June alone, Japan posted a trade deficit of 406.9 billion yen, according to the ministry. -
Oil Near Six-Week High amid New Supply Risks
Wednesday 22/07/202617:44:25 PMRead moreOil Near Six-Week High amid New Supply Risks
(QNA)-
Oil prices have extended gains to trade near six-week highs as fears of further supply disruptions intensified.
Brent crude futures rose $1.84, or 2%, to $92.85 a barrel, the highest since June 11.
US West Texas Intermediate crude climbed $1.67, or 2%, to $86.01, its highest since June 12. -
Qatar Stock Exchange Index Closes Lower
Wednesday 22/07/202617:42:23 PMRead moreQatar Stock Exchange Index Closes Lower
(QNA)-
The Qatar Stock Exchange (QSE) index closed Wednesday's trading session down 40.85 points, or 0.40%, to settle at 10,066.51 points.
A total of 113,958,317 shares were traded during the session, with a total value of QAR 321,696,120.641 across 22,745 transactions in all sectors.
Shares of 16 companies advanced, while 33 companies recorded losses and four companies closed unchanged.
Market capitalization at the close of trading stood at QAR 604,186,628,815.868, compared with QAR 606,496,319,060.596 in the previous session.
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Ezdan Holding Group's Net Profit Rises 4.4 Percent in H1 2026
Wednesday 22/07/202617:42:06 PMRead moreEzdan Holding Group's Net Profit Rises 4.4 Percent in H1 2026
(QNA)-
The Muscat Stock Exchange 30 index closed today at 7,111.42 points, up 20.1 points, or 0.284 percent, compared to the last trading session at 7,091.30 points.
Trading value reached OR 40,895,909, an increase of 5.8 percent, compared to the last trading session, which amounted to OR 38,645,581.
The report issued by the Muscat Stock Exchange indicated that the market value increased by 0.131 percent from the last trading day, reaching approximately OR 37.13 billion. -
WOQOD's Net Profit Down by 13.6% in H1 2026
Wednesday 22/07/202617:41:41 PMRead moreWOQOD's Net Profit Down by 13.6% in H1 2026
(QNA)-
Qatar Fuel (WOQOD)'s net profit dropped by 13.6% in H1 2026 to reach QAR 397.77 million, compared to QAR 460.43 million in H1 2025.
Data released by the company and published on the Qatar Stock Exchange (QSE) website on Wednesday showed a decrease in earnings per share to QAR 0.40 for the period ending June 30, 2026, compared to earnings per share of QAR 0.46 for the same period of the previous year.