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‎Loans to private sector, NFGEs up 8% in March

Sun, 24 May 2026 12:07:00 GMT

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Saudi Arabian banknotes

Loans granted by Saudi banks to non-financial government entities (NFGEs) and the private sector rose 8% to SAR 3.46 trillion by the end of March 2026, compared to almost SAR 3.20 trillion in the same month a year earlier, according to data issued by the Saudi Central Bank (SAMA).

BankLoans to Private Sector NFGEs(SAR bln)
Period	2025	2026	Change (%)
January	3,113	3,432	+10%
February	3,148	3,443	+9%
March	3,205	3,463	+8%
April	3,231	--	--
May	3,273	--	--
June	3,284	--	--
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 3.21 trillion for the same month, data showed.

Meanwhile, loans granted toNFGEsjumped 17% YoY to about SAR 254.5 billion by the end of March.

‎Tadweeer completes 80% of smelter study: CEO

Sun, 24 May 2026 10:49:00 GMT

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Nasser Aldueb, CEO ofNational Environmental Recycling Co. (Tadweeer)

National Environmental Recycling Co. (Tadweeer) completed 80% of the feasibility study for its metal smelter project, and preliminary indicators point to positive economic feasibility for the project, CEO Nasser Aldueb said.

Speaking to Argaam, Aldueb explained smelter projects are considered complex investments that require specialized technical and operational expertise, adding that it remains too early to determine a timeline for implementation or announce the project schedule.

The company is pursuing a board-approved strategy targeting annual revenue growth of 20% to 30% through 2030, he added.

On financial performance, the top executive indicated that recent revenue growth was driven by the operation of new production lines and higher utilization rates, which boosted returns and improved operational efficiency.

The first-quarter results were affected by the geopolitical turmoil in the region and the closure of the Strait of Hormuz, Aldueb said, noting that around 71% of Tadweeer’s sales are export-based, resulting in additional shipping and insurance costs despite higher sales during the period.

These conditions temporarily pressured profit margins, as sales increased while margins declined due to exceptional costs, he said; however, the company achieved what he described as excellent and exceptional profits.

Aldueb said Tadweeer recorded notable sales growth alongside increased production capacity but reaching full operating capacity in manufacturing industries typically requires time. However, the company managed to reach around 80% capacity utilization during the second quarter at a faster pace than initially planned.

He added that Tadweeer’s heavy reliance on exports stems from the nature of its products, which include copper, aluminum, precious metals, and stainless steel, amid limited domestic manufacturing capacity capable of absorbing such products and volumes, posing an operational challenge during the past period.

According to Aldueb, the company successfully managed to contain the impact of the strait closure by redirecting containers to alternative ports, helping maintain higher sales levels compared to previous periods despite increased shipping and insurance costs, which he described as temporary and unsustainable.

The CEO said China and India represent the company’s key export markets as two of the world’s largest importers of base metals, with major smelters and factories relying on such materials across various manufacturing industries.

Aldueb also expected global demand for metals to continue growing, supported by industrial expansion, particularly in the automotive and broader manufacturing sectors. He pointed to a growing global shift toward recycling instead of mining to preserve natural resources and enhance sustainability.

Regarding the transfer to the main market, the CEO said the company has met all required conditions, including liquidity requirements, noting strong growth in its shareholder base recently. He added that the company has resumed the transfer process and expects to finalize procedures and submit the file during the third quarter of this year.

Meanwhile, the executive noted the company’s participation in Argaam Connect came amid the presence of major investment funds and investors, providing an important opportunity to introduce the company, its activities, and financial results. He added that the company’s presentation received strong engagement from attendees, reflecting the intended benefits of participation.

‎FTSE Russell adds 4 Saudi stocks in Q2 review

Sun, 24 May 2026 09:49:00 GMT

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FTSE changes to reflect on Tadawul on June 18.

Global index provider FTSE Russell announced its quarterly review of Saudi Arabia Free Index Series, which will take effect on June 22.

Changes will be implemented to the FTSE Saudi Arabia Inclusion Index Series by the close of trading on June 19. However, as this date will mark a weekend, changes will reflect on the Saudi Exchange (Tadawul) on June 18, 2026.

The following table shows FTSE Russell’s changes:

Details of Periodic Changes
Company	Change
Alramz	Included in the MicroCap and FTSE Global Equity Index
Almasar Alshamil	Included in the MicroCap and FTSE Global Equity Index
Cherry	Included in the MicroCap and FTSE Global Equity Index
CGS	Included in the MicroCap and FTSE Global Equity Index

‎Saudi foreign reserve assets hit SAR 1.85T

Sun, 24 May 2026 13:47:00 GMT

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The Kingdom of Saudi Arabia's flag

Saudi Arabia’s foreign reserve assets declined by about SAR 6.5 billion, or 0.3%, month-on-month (MoM) in April, reaching SAR 1.855 trillion, according to the Saudi Central Bank (SAMA).

Net foreign assets rose by 13% year-on-year (YoY), or SAR 208.4 billion.

Reserve assets include foreign currency reserves (investments in foreign securities, foreign cash and deposits abroad), reserve positions at the International Monetary Fund, Special Drawing Rights (SDRs), and monetary gold.

Foreign currency reserves, which account for around 95% of total assets, increased 13% YoY to SAR 1.76 trillion in April.

Reserves at the International Monetary Fund (IMF) climbed by 2% to SAR 12.97 billion during the same month.

SDRs, however, edged down 0.5% to SAR 79.8 billion.

Meanwhile, gold reserves stabilized at SAR 1.62 billion, maintaining the same level since February 2008.

‎RIPC issues service entities performance report for April

Sun, 24 May 2026 18:26:00 GMT

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Riyadh city

The Riyadh Infrastructure Project Center (RIPC) issued a report on the performance of service entities involved in infrastructure projects across the Riyadh region during April, including indicators related to licensing, reports and compliance and safety.

According to the report, the number of reports received year to date reached around 107,000, while the number of issued licenses stood at 65,775.

RIPC said the total length of supervised projects reached 765 kilo meters, while the number of active licenses increased by 750 compared with the previous month to 9,016 licenses.

Reports
Type	Percentage
Road subsidence	37%
Water accumulation	34%
Exposed covers	5%
Other	24%

National Water Co. (NWC) obtained 64% of total licenses despite a 2% decline, with projects spanning 130 km. Saudi Energy Co. ranked second, accounting for 25% of total licenses with projects extending 238 km. Riyadh Region Municipality projects came third (5% with a total project length of 139.5 km).

Licenses
Entity	Percentage	Change	Project Length (km)
NWC	64%	(2%)	130.0
Saudi Energy	25%	1%	238.0
Riyadh Region Municipality	5%	0.3%	139.5
stc	3%	0.7%	57.9
Mobily	1%	0.2%	47.1
Royal Commission for Riyadh City	0.40%	0.1%	12.6

Moreover, reports filed against NWC represented 62% of the total amounting to 10,000, marking a 12% rise. Saudi Energy took second place with 23% of total reports, despite a 12% drop. Riyadh Municipality came third with (6%), followed by.

Total Reports
Entity	Percentage	Change
NWC	62 %	12 %
Saudi Energy	23 %	(12%)
Riyadh Region Municipality	6 %	(0.3%)
Riyadh Municipality	4 %	1%
stc	2 %	1%
RCRC	1 %	(0.2%)

Riyadh Municipality recorded the highest report closure rate at 90%, despite accounting for only 3% of total reports, followed by the NWC (87%).

Giant telecom operator stc posted a closure rate of 82%, followed by Riyadh Municipality at 78%, while Saudi Energy recorded the lowest rate at 69%.

Report Closure Rate
Entity	Percentage	Change
Riyadh Region Municipality	90%	(3%)
NWC	87%	9%
stc	82%	(8%)
Riyadh Municipality	78%	7%
RCRC	70%	--
Saudi Energy	69%	(3%)

Riyadh Region Municipality recorded the highest compliance rate with standards and regulations at 94%, followed by NWC (92%) and stc (81%), while Riyadh Municipality posted a compliance rate of 34%.

Project Compliance Rate
Entity	Percentage	Change
Riyadh Region Municipality	94 %	(4%)
NWC	92 %	(5%)
stc	81 %	(12%)
Saudi Energy	77 %	(16%)
RCRC	67 %	(16%)
Riyadh Municipality	34 %	(23%)

‎Saudia receives first Airbus A321XLR in MEA

Sun, 24 May 2026 16:37:00 GMT

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Saudi Arabian Airlines receives first Airbus A321XLR aircraft.

Saudi Arabian Airlines (Saudia) has received its first long-range narrow-body Airbus A321XLR aircraft. This is the first time this model joins the Saudi fleet and the first in the Middle East and Africa region.

The A321XLR features a narrow-body design with a long range of up to 8,700 kilometers and flight durations of up to 9 hours per trip and includes 24 business-class suites offering privacy and luxury. This option is in addition to 120 economy-class seats equipped with several passenger comfort features, including 13-inch entertainment screens, charging ports, and ergonomically designed seats using the latest technologies, the company stated in a statement.

Moreover, an upgraded cabin interior with high-speed internet service is included.

Saudia is scheduled to receive a total of 15 A321XLR aircraft by 2027. These aircrafts are expected to support Saudi Arabia’s Vision 2030 objectives in tourism, entertainment, sports, and serving pilgrims, particularly during major upcoming events hosted in the Kingdom, including the AFC Asian Cup 2027, Expo 2030, and the FIFA World Cup 2034.

The move extends the recent agreement signed by Saudia with Airbus to purchase 105 confirmed aircraft. Through this deal, the group aims to contribute to the localization of the aviation sector, strengthen national supply chains, maximize economic impact, and support local goods and services through major cumulative purchases and investments, the airline stated.

Airbus continues to cooperate with Saudi suppliers to qualify them for integration into global aviation supply chains, helping to enhance local content and create investment opportunities with sustainable economic impact, the statement added.

‎RCRC appoints PLANET to lead Riyadh cooling project

Sun, 24 May 2026 16:05:00 GMT

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The Royal Commission for Riyadh City (RCRC) appointed PLANET as the lead consultant for the Riyadh Strategic Cooling Project, an initiative aimed at addressing urban heat challenges in the Saudi capital.

Implemented under the Riyadh Green Program, the project includes developing a citywide cooling strategy, preparing urban planning and building materials guidelines, and identifying five pilot zones to test innovative cooling solutions, PLANET said in a statement.

PLANET said the project aligns with the Saudi climate transition efforts, including the Saudi Green Initiative, which supports large-scale environmental and sustainability investments across the Kingdom.

Over 12 months, the project will provide a framework to assess Riyadh’s heat challenges and a roadmap to reduce urban temperatures through data-driven analysis, sustainable planning, and resilient infrastructure practices.

Beyond its local impact, the company expects the initiative to become a global benchmark for cities facing rising temperatures driven by climate change.

‎Trump says Iran peace deal is near

Sat, 23 May 2026 18:18:00 GMT

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US President Donald Trump

US President Donald Trump said Saturday that a prospective peace agreement with Iran is almost complete, adding that final aspects of the deal are currently under discussion ahead of an official announcement.

In a statement from the Oval Office at the White House, Trump said he held what he described as a “very good” call with several Middle Eastern leaders, including Saudi Crown Prince Mohammed bin Salman, UAE President Mohamed bin Zayed Al Nahyan, Qatari Emir Tamim bin Hamad Al Thani, Turkish President Recep Tayyip Erdoğan, Egyptian President Abdel Fattah el-Sisi, Jordan’s King Abdullah II, and Pakistan Army Chief Asim Munir.

Trump said an agreement had been “largely negotiated” between the US, Iran and several countries involved in the talks, noting that reopening the Strait of Hormuz would form part of the anticipated understanding.

The US president added that he also spoke with Israeli Prime Minister Benjamin Netanyahu, saying the conversation “went very well.”

Trump’s remarks come after weeks of war and escalating tensions, amid intensified diplomatic efforts led by Pakistan and Gulf states aimed at containing the crisis and preventing a return to military confrontation.

‎Industry Ministry issues 80 mining licenses in March 2026

Sun, 24 May 2026 15:35:00 GMT

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Logo ofMinistry of Industry and Mineral Resources

The Ministry of Industry and Mineral Resources issued 80 new mining licenses during March, according to the mining indicators report of the National Industrial and Mining Information Center (NIIC) for the month.

The data showed that the total number of active licenses in the sector till March-end rose to 3,017.

Category	New Mining Licenses	Number of Total Active Licenses
Building Materials Quarries	20	1,571
Exploration	49	1,075
Small Mining Extraction	8	285
Reconnaissance	2	76
Surplus Mineral Ores	1	10
Total	80	3,017

‎Saudi Crown Prince joins Trump in call with Arab, Islamic countries leaders

Sun, 24 May 2026 09:37:00 GMT

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Crown Prince and Prime Minister Mohammed bin Salman

Saudi Crown Prince and Prime Minister Prince Mohammed bin Salman participated in a group call held on May 24, with US President Donald Trump.

According to the Saudi Press Agency (SPA), the call also included Bahrain’s King Hamad bin Isa Al Khalifa, Qatar’s Emir Sheikh Tamim bin Hamad Al Thani, UAE President Sheikh Mohamed bin Zayed Al Nahyan, Jordan’s King Abdullah II, Egyptian President Abdel Fattah El-Sisi, Turkish President Recep Tayyip Erdogan, and Pakistan’s Chief of Army Staff Field Marshal Asim Munir.

The participants reviewed the latest regional developments and expressed appreciation for Trump’s leadership and his keenness to consult and coordinate with regional leaders.

‎Cluster2 Airports’ passenger traffic rises 7% in Q1 2026

Sun, 24 May 2026 09:10:00 GMT

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Logo ofCluster2 Airports Co.

Cluster2 Airports Co. said passenger traffic showed notable growth during the first quarter of 2026.

The number of passengers reached nearly 5 million, a 7% increase over the same period last year, according to a statement released by Cluster2 Airports.

Meanwhile, the number of flights exceeded 37,000 during Q1 2026, up 9% year-on-year (YoY).

As part of its operational expansion, the company launched several new routes, including Qassim–Madinah, Arar–Madinah, Jazan–Madinah, Tabuk–Jazan, Jazan–Addis Ababa, Hail–Doha, Taif–Muscat, and Abha–Giza.

The new routes aim to boost tourism growth by supporting the objectives of the Saudi Air Connectivity Program.

On the infrastructure development front, the company said the new Al-Jouf International Airport was inaugurated and became operational in a strategic step aimed at supporting economic development and enhancing air connectivity in the region. This comes in line with the Aviation Program, which stems from the National Transport and Logistics Strategy.

According to data available with Argaam, Cluster2 Airports is a subsidiary of Matarat Holding Co., which was established on April 13, 2013, to manage and operate 22 airports across the Kingdom.

Matarat Holding, through its subsidiaries Riyadh Airports Co., Jeddah Airports Co., Dammam Airports Co., and Cluster2 Airports Co., aims to develop Saudi Arabia’s airports and enhance their performance in line with the Kingdom’s rapid development. It also seeks to support sustainable development under the National Aviation Strategy, which stems from the National Transport and Logistics Strategy and Vision 2030.

‎Tadawul closes for Eid Al-Adha starting today

Sun, 24 May 2026 07:50:00 GMT

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Trading resumes on May 31: Tadawul

The Saudi Exchange (Tadawul) closed for Eid Al-Adha holiday starting today, May 24.

Trading will resume on May 31.

Tadawul All Share Index (TASI) ended the May 21 session with a 0.4%, or 42 points, increase to 11,028 points. Total turnover reached almost SAR 11.1 billion.

‎East-West pipeline shields global oil market from major crisis: Energy official

Sun, 24 May 2026 08:54:00 GMT

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Saudi Arabia is key in helping limit the repercussions of the war on the global oil market and preventing a deeper crisis, said Ibrahim Almuhanna, Advisor to the Saudi Minister of Energy.

In a statement to Asharq Al-Awsat following a seminar hosted by King Saud University, Almuhanna said the East-West pipeline helped transport around seven million barrels of oil per day to the Red Sea, bypassing the Strait of Hormuz.

This supported international supplies of crude oil and petroleum products and helped curb sharp price increases.

He noted that at the onset of the war, oil prices experienced sharp volatility and an unprecedented divergence between the futures and spot markets, with the gap at times reaching as much as $50 per barrel.

He added that the world lost nearly 13 million barrels per day (bpd) of oil supplies in what became the largest crisis facing the global oil market, while the closure of the Strait of Hormuz further complicated the situation and drove prices higher.

Almuhanna added that the continuation of the war’s impact depends on the persistence of the conflict, the closure of the strait, and production stoppages in some affected countries.

He expects the repercussions of the crisis on the energy sector to continue for years even after military operations end and the strait reopens, due to the need to rehabilitate oil fields and facilities and correct imbalances in production, refining, and exports.

He stressed that Saudi Arabia, the Gulf countries, and OPEC are keen to mitigate the negative effects of the crisis by maintaining a balance between supply and demand and ensuring price stability.