Saudi Arabia targets 100,000 railway jobs by 2030: TGA Chief
Friday, August 14,2026,15:33
Logo ofTransport General Authority (TAG) Fawaz Al-Suhaili, President of the Transport General Authority (TAG), said Saudi Arabia aims to increase employment in the railway transport sector to around 100,000 jobs by 2030, from 13,000 currently, amid the sector’s ongoing expansion. He added that the number of railway sector employees increased by more than 1.5x over the past four years. Regarding the National Transport and Logistics Strategy, Al-Suhaili said it covers various transport sectors, including road, maritime and rail transport, highlighting increasing the share of public transportation as a key sector target. Public transport projects are now underway in more than 17 Saudi citi... .. read more..
Pharmacy business strategic pillar, expansion to remain selective: BinDawood...
Friday, August 14,2026,15:13
Ahmad BinDawood, CEO ofBinDawood Holding Co. BinDawood Holding Co. ’s CEO, Ahmad BinDawood , said the pharmacy business has become a growing strategic pillar within the group’s portfolio, contributing positively to the company’s H1 2026 results despite the impact of changes to the Wasfaty program on its revenues. He added that the segment’s core operations remained resilient, supported by growth in sales outside the program, which generate higher profit margins and helped improve the quality of the segment’s earnings. BinDawood said the group views the pharmacy business not merely as a network of branches, but as an integrated platform for growth in the healthcare sector, which offers p... .. read more..
Dubai tenders stormwater drainage projects
Friday, August 14,2026,14:20
Dubai Municipality has invited contractors to bid for three stormwater and sewerage tenders serving Hind City, Dubai Land and surrounding areas .. read more..
Construction completed on $8.5bn Neom hydrogen project
Friday, August 14,2026,14:20
The project at Oxagon is entering the commissioning phase, with commercial operations targeted for 2027 .. read more..
Lamprell announces Abu Dhabi offshore project contract
Friday, August 14,2026,14:20
Adnoc and its partners previously selected a consortium of India’s L&TEH Offshore and Saudi Arabia/UAE-based Lamprell for the Umm Shaif Gas Cap development .. read more..
Hitachi Energy signs Erbil substations deal
Friday, August 14,2026,14:20
The Kurdistan Region's Electricity Ministry is overseeing the development of three new substations in northern Iraq .. read more..
Contracts signed for Algerian phosphate project
Friday, August 14,2026,14:20
The Bled El-Hadba development project is expected to be worth $7bn .. read more..
CMA's key milestones under El-Kuwaiz
Friday, August 14,2026,10:59
Under El-Kuwaiz, Saudi Arabia’s capital market expanded in size and depth, opened further to foreign investors, strengthened investor protection and surpassed SAR 1.2 trillion in assets. Mohammed El-Kuwaiz ended a nearly nine-year tenure at the helm of the Saudi Capital Market Authority ( CMA ) on August 13, 2026, following a Royal Order issued on the same date relieving him of his position and appointing Mazen Al-Sudairi as Chairman of the authority’s board. El-Kuwaiz was appointed Chairman of the CMA in July 2017, becoming its fifth chairman. During his tenure, Saudi Arabia’s capital market underwent significant developments in regulation, size, breadth and inclusiveness, as well as g... .. read more..
Gold prices fall more than 1% on profit-taking
Friday, August 14,2026,09:18
Gold bars Gold futures prices fell more than 1% in today’s trading, Aug. 14, heading for a weekly decline amid profit-taking after moderate US inflation data pushed the precious metal to its highest level in more than two months. Meanwhile, the US Dollar Index, which measures the greenback against a basket of six major currencies, edged down 0.10% to 99.86 points. The decline came after data showed US producer prices were unchanged month-on-month in July, while consumer prices edged higher as gasoline costs fell for the second consecutive month. This pushed the probability of a September rate hike down to 35%, from 55% a week earlier, according to the CME FedWatch Tool. Markets are also... .. read more..
Oil prices edge higher, set for weekly gains
Friday, August 14,2026,09:15
Oil drilling rigs Oil prices edged higher during trading today, Aug. 14, supported by US threats to impose an indefinite naval blockade on Iran, renewing concerns over crude supplies. The two oil benchmarks are on track for weekly gains of around 4%, despite falling more than 2% in the previous session, according to Reuters. In an interview with Newsmax, US Treasury Secretary Scott Bessent said: “Watch this space for more announcements coming next week” as US implement economic isolation on Iran “like the world has never seen before”. Markets are also awaiting Baker Hughes’ US oil and gas rig count later today for further indications on the outlook for American supplies. Change in Price... .. read more..
Fitch affirms US credit rating at ‘AA+’ with stable outlook
Friday, August 14,2026,09:09
Fitch Ratings affirmed the United States’ sovereign credit rating at ‘AA+’ with a stable outlook, citing the economy’s strength and scale and the financing flexibility provided by the dollar’s role as a global reserve currency, despite elevated fiscal pressures. The agency expects the government deficit to widen to 7.4% of GDP in 2026, compared with around 6.8% in 2025. Efforts to reduce the deficit through spending controls would remain limited, it said, given that non-defense spending accounts for less than 15% of total spending. The debt-to-GDP ratio is expected to reach 123% by end-2028. The debt ratio is projected to rise to 128% by 2030. Fitch expects the $41.1 trillion debt ceili... .. read more..
Contractors prepare prices for Al-Ghubar field facilities project
Friday, August 14,2026,00:37
Petroleum Development Oman plans to build a gas-oil gravity drainage facility to handle increased oil output from the Al-Ghubar field in Qarn Alam, within its Block 6 concession area .. read more..
Adnoc Gas receives contractor prices for Ewec sales pipeline
Friday, August 14,2026,00:37
The proposed 56-inch, 127km pipeline will help the UAE’s state utility Ewec meet additional gas demand to power the second phase of an AI data centre in Abu Dhabi and to support the relocation of power assets in the Mirfa area of the emirate .. read more..
Oman plans seven factories to localise transformer parts
Friday, August 14,2026,00:37
Ten agreements will support seven new factories and two production lines for electrical transformer components in the sultanate .. read more..
Six bid for Dubai Airport Express Line
Friday, August 14,2026,00:37
Six groups are competing to study and design the 55-kilometre line linking Garhoud with Al-Maktoum International airport .. read more..
QatarEnergy studies engineering bids for Halul Island modification
Friday, August 14,2026,00:37
Through the project, the Qatari state enterprise aims to upgrade crude stabilisation facilities on Halul Island and build a new interconnecting pipeline to the NGL facilities in Mesaieed .. read more..
Taqa H1 profit rises 9.7% to AED4.1bn
Friday, August 14,2026,00:37
Abu Dhabi’s Taqa increased infrastructure investment in the first half of 2026 as utilities earnings offset lower oil and gas income .. read more..
Kuwait selects developer for Shagaya zone one plant
Friday, August 14,2026,00:37
The Al-Dibdibah power and Al-Shagaya renewable energy phase three, zone one independent power project will have a total power generating capacity of 1,100MW .. read more..
Wall Street hits record close as inflationary pressures ease
Thursday, August 13,2026,23:07
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SMASCO sees robust H2 2026 performance
Thursday, August 13,2026,20:48
Abdullah Altimyat, CEO of Saudi Manpower Solutions Co. (SMASCO), expects the second half of 2026 to follow the usual seasonal patterns, with varying demand levels across the individuals and corporate segments. Speaking to Argaam, Altimyat said the individuals segment may continue to be affected by the seasonal slowdown during part of Q3, with demand expected to recover toward the end of the vacation season and the start of the new academic year, following its usual seasonal cycle. “We expect the corporate segment to maintain its stability and growth, although margins will remain under pressure amid intensifying competition. We also remain confident in delivering a balanced performance c... .. read more..
Tadawul: Major ownership changes on August 11
Thursday, August 13,2026,19:54
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Al Aziziah REIT pays 0.7% dividend for Q2 2026
Thursday, August 13,2026,17:12
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SASCO to evacuate station on King Salman Road
Thursday, August 13,2026,16:59
Logo ofSaudi Automotive Services Co. (SASCO) Saudi Automotive Services Co. ( SASCO ) received, on August 13, a notification from Riyadh Airports Co. to vacate and demolish its leased station on King Salman Road in Riyadh, including the hotel buildings, for the implementation of Expo 2030 Riyadh project. In a statement to Tadawul , the company added that it is currently negotiating with Riyadh Airports Co. and Expo project to determine the compensation amount for the station and hotel assets. It noted that the compensation amount and financial impact will be announced upon receipt of the compensation. .. read more..
Biography of new CMA Chairman Mazen Al-Sudairi
Thursday, August 13,2026,16:31
Mazen bin Turki Al-Sudairi, Chairman of Capital Market Authority (CMA) A royal decree was issued today appointing Mazen bin Turki Al-Sudairi as Chairman of the Capital Market Authority ( CMA ), succeeding Mohammed bin ElKuwaiz. Al-Sudairi holds a Master’s degree in Finance from the Higher Institute of Management in France. He holds a Bachelor’s degree in industrial engineering from King Saud University. In 2024, he was appointed as an advisor at the General Secretariat of the Saudi Cabinet, at the excellent rank. He previously served as Head of Research at Al Rajhi Capital. He also served as Head of Sales Research at Alistithmar Capital. Al-Sudairi worked as an energy and petrochemicals... .. read more..
Royal decree names Mazen Al-Sudairi as CMA Chair
Thursday, August 13,2026,16:23
Mazen bin Turki Al-Sudairi, Chairman of Capital Market Authority ( CMA ) King Salman bin Abdulaziz issued a royal decree relieving Mohammed bin Abdullah ElKuwaiz of his position as Chairman of the Capital Market Authority ( CMA ) and appointing Mazen bin Turki Al-Sudairi as Chairman of CMA’s board with the rank of minister. A separate royal decree was also issued to reconstitute the Saudi Cabinet, headed by Crown Prince Mohammed bin Salman, with its current members. The royal decrees also included relieving Bandar bin Ibrahim Al-Khorayef of his position as Chairman of the board of the Local Content and Government Procurement Authority (LCGPA) and appointing Prince Abdulaziz bin Salman b... .. read more..
TASI falls 0.2% to 10,824 pts, turnover at SAR 4.4B
Thursday, August 13,2026,15:32
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Bank loans to pvt sector, NFGEs up 7% in June
Thursday, August 13,2026,14:07
Loans granted by Saudi banks to non-financial government entities (NFGEs) and the private sector rose 7% to SAR 3.52 trillion by the end of June 2026, compared to almost SAR 3.28 trillion in the same month a year earlier, according the Saudi Central Bank (SAMA). BankLoans to Private Sector NFGEs(SAR bln) Period 202 5 202 6 Change (%) January 3 , 113 3 , 432 +10% February 3 . 148 3 , 443 +9% March 3 , 205 3 , 463 +8% April 3 , 231 3 , 485 +8% May 3 , 273 3,504 +7% June 3 , 284 3 , 528 +7% July 3,321 -- -- August 3,343 -- -- September 3,370 -- -- October 3,382 -- -- November 3,389 -- -- December 3,404 -- -- Bank loans to the private sector increased by 7% year-on-year (YoY) to SAR 3.26 tr... .. read more..
Oil drops nearly 2% as investors study demand prospects
Thursday, August 13,2026,13:27
Oil tanks Oil prices dropped nearly 2% today, Aug. 13, amid growing expectations of a decline in global oil demand this year, given the lack of progress in reopening the Strait of Hormuz. The Energy Information Administration data release on Aug. 12 showed that US crude oil inventories rose at their fastest weekly pace since January 2023 as exports declined. This comes after the OPEC and the International Energy Agency lowered their forecasts for global oil demand growth in 2026 in their monthly report. A senior Iranian source said on Aug. 12 that no progress had been made in talks aimed at reviving the interim agreement reached in June between Washington and Tehran, Reuters reported. B... .. read more..
Saudi Arabia among top 10 AI investors: World Bank
Thursday, August 13,2026,12:48
The Kingdom of Saudi Arabia's flag Saudi Arabia ranks among the world's top 10 countries for private investment in artificial intelligence (AI), the World Bank said in its World Development Report 2026: Promise of AI Intelligence. The report also identified Saudi Arabia as one of the leading destinations for AI talent in 2025, alongside Luxembourg, the UAE, and Switzerland, based on the highest net inflows of AI workers per 10,000 LinkedIn members. The World Bank said countries stand to benefit from AI not only by developing advanced models but also by building integrated ecosystems spanning digital connectivity, computing infrastructure, data, skills, and institutions. It said locally ... .. read more..
TASI: 11 stocks, 1 REIT mark fresh 52-week lows
Thursday, August 13,2026,11:47
Tadawul trading screen Shares of 11 TASI-listed companies, in addition to units of Jadwa REIT Saudi Fund , fell today, Aug. 13, to their lowest levels in 52 weeks, data compiled by Argaam showed. Stocks at 52-week lows Company Price (SAR)* Performance in 52 weeks SRMG 56.05 (67%) Riyadh Development 15.38 (54%) Nofoth 5.77 (53%) Shaker 11.45 (50%) Al Othaim 4.85 (35%) Tabuk Cement 7.22 (31%) Tadawul Group 115.50 (30%) eXtra 62.50 (30%) Saudi Cement 27.70 (28%) GASCO 59.70 (19%) Al-Jouf Agricultural 38.30 (12%) Jadwa REIT Saudi 9.76 (5%) *The lowest price during the session, but not the current trading price. .. read more..
Saudi inflation holds at 1.8% in July 2026
Thursday, August 13,2026,11:05
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Egypt’s 1.1GW Obelisk solar plant reaches full operations
Thursday, August 13,2026,03:43
The second phase adds 564MW of solar capacity to the project, which also includes 100MW/200MWh of battery storage .. read more..
Acwa signs Indonesia desalination and salt deal
Thursday, August 13,2026,03:43
The facility will produce 62,500 cubic metres a day of desalinated water and 500,000 tonnes a year of industrial salt .. read more..
stc pays SAR 60B in 5 years; liquidity hits SAR 14B
Wednesday, August 12,2026,19:31
Logo ofSaudi Telecom Co. (stc) Saudi Telecom Co. ( stc ) said during its first-half 2026 earnings call that it will maintain its quarterly dividend policy of SAR 0.55 a share through the third quarter of 2027. The company said its cash dividend yield stood at 9.7% and its payout ratio at 142.9% at the end of the second quarter, based on dividends paid over the past 12 months, including the additional 2024 dividend of SAR 2 a share paid in June 2025 and the stock’s closing price on June 30, 2026. Over the past five years, stc has paid total dividends of about SAR 60.1 billion through the end of the second quarter of 2026. The group’s total assets continued to grow, reaching SAR 167 billi... .. read more..
PIF publishes 2026-2030 strategy document
Wednesday, August 12,2026,19:22
Logo ofThe Public Investment Fund (PIF) The Public Investment Fund ( PIF ) published today, Aug. 12, its strategy document for 2026-2030, which was approved by the fund’s board in mid-April. Under the strategy, PIF will focus on building highly competitive domestic economic ecosystems, enhancing integration across sectors, maximizing strategic asset value and delivering sustainable returns, while advancing Saudi Arabia’s economic transformation and improving citizens’ quality of life. The strategy document outlines PIF’s overall strategy for the next five years, marking the next phase of its long-term strategy under the theme “Value Realization.” It also details PIF’s investment strateg... .. read more..
US oil inventories rose by more than 17 million barrels in a week
Wednesday, August 12,2026,19:00
Oil tanks US oil inventories rose during the week ending August 7, according to data released Wednesday by the US Energy Information Administration (EIA), contrary to expectations that they would fall by 600,000 barrels. Crude Oil Refined Product Inventories in US (barrels mln) Item Last Year Last Week Current Weekly Change Crude Oil 426.7 407.0 424.4 +17.4 Gasoline 226.3 209.7 208.7 (1.0) Distillates 113.7 107.2 107.1 -- .. read more..
CMA approves Cenomi Centers 9% capital hike via bonus shares
Wednesday, August 12,2026,18:52
Logo ofArabian Centres Co. (Cenomi Centers) The Capital Market Authority (CMA) approved Arabian Centres Co. ( Cenomi Centers ) application to raise its capital from SAR 4.75 billion to SAR 5.18 billion, the market regulator said in a statement. The CMA said the planned capital hike will be carried out via a 1-for-12 bonus share distribution. Eligibility for the bonus issue will be to shareholders registered with the Securities Depository Center (Edaa) by the end of the second trading day following the record date, which will be determined later by the company’s board of directors. The capital increase will be funded by transferring SAR 426.6 million from retained earnings. Accordingly, ... .. read more..
Tadawul: Major ownership changes on Aug. 10
Wednesday, August 12,2026,18:45
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Hamad Bin Saedan flags differences in rights issue proceeds use
Wednesday, August 12,2026,17:29
Logo of Hamad Mohammed Bin Saedan Real Estate Co. Hamad Mohammed Bin Saedan Real Estate Co. said the actual use of some rights issue proceeds at the project level differed from the allocations set out in the prospectus. In a statement to Tadawul , the company attributed the differences to regulatory changes, actual financing needs, varying project execution and readiness stages, and market and technical developments affecting several projects. This situation resulted in differences in the distribution and use of part of the allocations among the company’s capital projects to optimize the use of proceeds, without affecting the total amounts allocated to finance those projects. The differ... .. read more..
AFG International reappoints Hussein Shobokshi Chairman; Ahmed Alarabi Deputy
Wednesday, August 12,2026,16:39
Logo of AFG International Co. (Cenomi Retail) AFG International Co. ( Cenomi Retail ) stated that its board of directors decided today, Aug. 12, to reappoint Hussein Shobokshi, an independent board member, as Chairman, and Ahmed Alarabi, a non-executive board member, as Vice Chairman. The company said in a statement to Tadawul that the audit committee was formed from Hamad Hamdan AlSourayia, Russell Rodrigues, and Ismail ElKhatib. The nomination and remuneration committee also included Majed Najm, Ahmed Alarabi, Russell Rodrigues, Hisham Ikhwan, and Huda AlGhamdi. Meanwhile, the executive committee comprised Ahmed Alarabi, Russell Rodrigues, Ismail ElKhatib, Hesham Ikhwan, and Simon Sho... .. read more..
MBC Group resilient despite challenges
Wednesday, August 12,2026,16:19
MBC Group CEO, Mike Sneesby MBC Group Co. ’s CEO Mike Sneesby hailed the resilient H1 2026 performance amid continued market challenges. In an interview with Argaam , he noted that the six-month net profit was affected by the accounting treatment of share-price movements related to the group’s investments in ACSC and Anghami. The TASI-listed group, says Sneesby, posted an adjusted net profit of SAR 178 million excluding this impact. Revenue reflected weaker advertising demand, the expiry of key contracts in broadcasting and technical services, and the timing of revenue recognition for certain media and entertainment projects. The group took proactive measures in Q2 2026 to mitigate the ... .. read more..
TASI rises 0.1% to 10,844; turnover at SAR 5.1B
Wednesday, August 12,2026,15:38
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Savola focuses on sales amid resilient demand
Wednesday, August 12,2026,11:24
Savola Group CEO says product demand remains steady as sales continue to grow Demand for Savola Group ’s products remains generally steady and sales continue to grow across several activities, CEO Sameh Hassan told Argaam in an interview. The group continues to monitor demand, prices and supply-chain developments across its markets. Savola’s performance in H1 2026 was driven by sales volume growth, supply continuity and improved operational efficiency across key segments, with revenue rising to SAR 13.6 billion, he noted. He said the group remained focused on factors within its control, particularly improving operational efficiency, strengthening supply-chain resilience and enhancing co... .. read more..
Contractors prepare bids for North Field West offshore platforms
Wednesday, August 12,2026,10:58
The QatarEnergy tender involves EPCI of production deck modules and will support gas production from the North Field reservoirs, providing additional gas feedstock for the North Field West LNG project .. read more..
Contractor kicks off EPC work on Uthmaniyah gas compression package
Wednesday, August 12,2026,10:58
Saudi Aramco had awarded the package – part of a wider project to boost gas compression capacity at the Shedgum and Uthmaniyah processing plants – to a joint venture of Italy’s Saipem and local contractor Nasser Saeed Al-Hajri and Partners .. read more..
Bidders get more time for Riyadh East sewage treatment plant
Wednesday, August 12,2026,10:58
The plant will have a treatment capacity of 200,000 cubic metres a day (cm/d) in its first phase, expanding to 500,000 cm/d in the second phase .. read more..
KJO selects contractors for Dorra gas project offshore packages
Wednesday, August 12,2026,10:58
The two offshore packages form part of Al-Khafji Joint Operations’ multibillion-dollar Dorra field gas development in the waters of the Saudi-Kuwait Neutral Zone .. read more..
Oman reaches financial close on 120MW wind project
Wednesday, August 12,2026,10:58
The 120MW Jaalan Bani Bu Ali wind project is due to start commercial operations in the third quarter of 2027 .. read more..
Almunajem: Back-to-school to drive recovery
Tuesday, August 11,2026,23:19
Thamer Abanumay, Managing Director of Almunajem Foods Co. Thamer Abanumay , Managing Director of Almunajem Foods Co., said that geopolitical developments in the region during the second quarter had no material impact on the company’s operations, as imports continued and products remained available with no significant disruptions. He told Argaam that the company faced some limited pressure on freight costs, as well as minor challenges in the availability of certain products from some markets. However, the company was able to manage these challenges through flexible sourcing and by leveraging available alternatives, limiting their impact on operations. With the start of the third quarter,... .. read more..
Bank of Jordan: Saudi market ‘key pillar’ of growth strategy
Tuesday, August 11,2026,23:11
Zaher Muala, CEO of Bank of Jordan Zaher Muala, CEO of Bank of Jordan’s branch in Saudi Arabia, said the bank’s entry into the Saudi market represents a key pillar of the group’s strategy for growth and regional expansion, rather than merely an option for geographic presence. In an interview with Argaam on the occasion of the bank’s branch opening in the Kingdom, Muala said the Saudi economy is a major regional hub, while the banking sector plays a fundamental role in supporting various economic sectors, making a presence in the Kingdom important from a long-term sustainability and growth perspective. The branch’s strategy is centered on building a sound and diversified asset and financ... .. read more..