Saudi weekly PoS transactions rise 17.2% across all sectors to reach $3.6bn
Saudi weekly PoS transactions rise 17.2% across all sectors to reach $3.6bn/node/2584945/business-economy
Saudi weekly PoS transactions rise 17.2% across all sectors to reach $3.6bn
Figures from the Saudi Central Bank, also known as SAMA, revealed significant growth across all sectors between Dec. 22 and Dec. 28, with the total number of transactions hitting 211.97 million during the week. Shutterstock
Saudi weekly PoS transactions rise 17.2% across all sectors to reach $3.6bn
Updated 08 January 2025
Nour El-Shaeri
RIYADH: Saudi Arabia’s consumer spending soared in the final week of 2024, with point-of-sale transactions climbing 17.2 percent week-on-week to SR13.8 billion ($3.6 billion), official data showed.
Figures from the Saudi Central Bank, also known as SAMA, revealed significant growth across all sectors between Dec. 22 and Dec. 28, with the total number of transactions hitting 211.97 million during the week.
The telecommunications sector led the growth in transaction value, reporting a 29.6 percent week-on-week increase to SR132.5 million.
The recreation and culture sector followed closely, with a 27.7 percent rise, amounting to SR286.3 million. Seasonal gifting trends also contributed to a 26.1 percent increase in the jewelry sector, which recorded SR315 million in transactions.
The food and beverage sector posted a 22.9 percent jump, reaching SR2 billion.
Other sectors also saw substantial increases in transaction values. The education sector rose 20.7 percent, while health and furniture reported growth of 16.4 percent and 16.2 percent, respectively.
Miscellaneous goods and services, as well as clothing and footwear, recorded similar growth at 16.2 percent and 16 percent. The restaurants and cafes sector grew by 14.4 percent, with transportation close behind at 14.2 percent.
In terms of transaction volume, the jewelry sector led with a 25.4 percent week-on-week increase, reaching 231,000 deals.
Telecommunications saw a 13.9 percent rise, followed by recreation and culture with a 13.3 percent increase, and transportation with an 11.8 percent growth.
Clothing and footwear transactions rose by 11.5 percent, furniture by 10.6 percent, and miscellaneous goods and services by 8.9 percent.
Regionally, Hail reported the highest growth in transaction value, with a 29.1 percent increase to SR218.9 million. The city also saw a 15 percent rise in the number of deals, reaching 3.65 million.
Tabuk followed, posting a 28.9 percent growth in transaction value to SR270.5 million and an 11.3 percent rise in the number of transactions, totaling 4.57 million.
Madinah recorded a 23.3 percent increase in value to SR594.8 million, alongside a 9.9 percent growth in the number of transactions.
Riyadh, however, saw the highest overall transaction value at SR4.7 billion, reflecting a 12.4 percent increase. The capital also recorded a 6.2 percent rise in transaction volume.
Jeddah followed with a 13.4 percent increase in transaction value and a 5.9 percent rise in transaction volume.
Egypt’s annual urban consumer inflation at 14.9 percent in June, stats agency says
Urban food and beverage prices were down 1.2%
Updated 09 July 2025
Reuters
DUBAI: Egypt’s annual urban consumer price inflation slowed to 14.9 percent in June from 16.8 percent in May, data from statistics agency CAPMAS showed on Wednesday.
The drop in inflation is steeper than the median forecast of 15 analysts polled by Reuters, which had seen annual urban consumer inflation last month at 16.2 percent.
Urban food and beverage prices were down 1.2 percent overall compared to May 2025 but were up by 6.9 percent against June 2024, according to CAPMAS.
Urban inflation on a monthly basis inched down in June by 0.1 percent compared to May, as meat and poultry prices were down by 3.8 percent, fruits by 2.1 percent and vegetables by 1 percent, while the prices of bread and cereals were up by 0.3 percent and seafood by 0.8 percent.
Egypt’s annual inflation has plunged from a record high of 38 percent in September 2023, helped by an $8 billion financial support package agreed with the International Monetary Fund in March 2024.
Most Gulf markets close higher shrugging off Trump’s tariff news
Saudi Arabia’s benchmark index eased 0.1%
Abu Dhabi index added 0.4%
Updated 09 July 2025
Reuters
LONDON: Most stock markets in the Gulf reversed early losses to close higher on Wednesday as investors appeared unfazed by the latest tariff threats from US President Donald Trump.
Trump ramped up his trade offensive on Tuesday, announcing a 50 percent tariff on copper and renewed long-threatened levies on semiconductors and pharmaceuticals. He also reiterated plans to slap 10 percent tariffs on imports from Brazil, India, and other BRICS countries.
Saudi Arabia’s benchmark index eased 0.1 percent, dragged down by a 3.1 percent slide in utilities heavyweight ACWA Power and a 0.9 percent decrease in oil giant Saudi Aramco.
In the UAE, Dubai’s main index gained 0.7 percent, hitting a fresh 17-year high, lifted by a 3.6 percent rise in Emirates Central Cooling Systems Corp.
Emirates has signed a preliminary agreement with Crypto.com to accept payments through its platform.
The UAE continues to grow as a regional hub for crypto firms, with several enabling crypto payments for real estate, tuition, and transport.
Abu Dhabi index added 0.4 percent, posting its sixth straight session of gains.
Abu Dhabi National Insurance Co. advanced 6.4 percent following regulatory approval to open a branch in India.
Qatar’s benchmark index closed flat.
Outside the Gulf, Egypt’s blue-chip index, which traded after a session’s break, finished 0.4 percent higher, with Commercial International Bank rising 0.6 percent higher.
Egypt’s stock exchange suspended trading on Tuesday, citing ongoing disruptions affecting brokerage firms’ ability to communicate efficiently across the trading system, after a fire broke out on Monday in a telecoms data center in Cairo.
Blacklane and EVIQ partner to expand EV charging network in Saudi Arabia
Initiative aims to support development of sustainable infrastructure, focusing on clean technologies
Deal includes development of dedicated charging stations for vehicle fleets
Updated 9 min 55 sec ago
MOHAMMED AL-KINANI
JEDDAH: Electric vehicle charging infrastructure is set to expand across Saudi Arabia following a strategic partnership between Blacklane and EVIQ, accelerating the Kingdom’s shift toward clean and sustainable mobility.
Under the agreement, EVIQ — a joint venture between the Public Investment Fund and Saudi Electricity Co. — will collaborate with the international chauffeur-driven transport firm to support the expansion of the Kingdom’s EV charging network across key cities and mobility hubs, according to a press release.
The initiative aims to support the development of sustainable infrastructure in line with Saudi Vision 2030, focusing on clean technologies and environmental responsibility. It also supports the Kingdom’s goal to transition 30 percent of vehicles in Riyadh to electric by 2030 and achieve net-zero emissions by 2060 — a target it aims to reach ahead of schedule.
Mohammed Bakr Gazzaz, CEO of EVIQ, said: “By integrating national charging infrastructure with premium fleet operations, we aim to reinforce the foundation for a scalable, future-ready transport ecosystem aligned with Saudi Arabia’s Vision 2030.”
يسرنا أن نعلن عن توقيع عقد شراكة جديد مع شركة بلاك لين، والتي من شأنها تهدف إلى تعزيز اعتماد المركبات الكهربائية في المملكة العربية السعودية، في خطوة تسهم في تحقيق التنقل الذكي والمستدام تماشيًا مع رؤية المملكة 2030.
The deal includes the development of dedicated charging stations for vehicle fleets, most notably an integrated charging center at Blacklane’s new regional headquarters for the Gulf region in Riyadh.
“As we rapidly scale operations across the nation, we’re thrilled to have EVIQ on-board to actively support our expanding electric fleet. Together we are setting new benchmarks for sustainable innovation and success,” said Jens Wohltorf, CEO and co-founder of Blacklane.
Blacklane will incorporate EVIQ’s public charging network into its operations in Saudi Arabia to support its growing electric vehicle fleet. Both companies also plan to explore opportunities for system integration aimed at improving network functionality and user accessibility.
The partnership follows Blacklane’s recent introduction of Lucid electric vehicles into its Saudi fleet, as part of efforts to expand its EV offerings. EVIQ’s fast-charging network supports the company’s goal of enhancing its electric mobility services in the Kingdom, the release added.
As part of the partnership, the companies will co-develop training programs under Blacklane’s Chauffeur Training Academy, focusing on EV charging best practices to support service quality, safety, and sustainability.
Blacklane’s expansion in Saudi Arabia is backed by TASARU Mobility Investments, a wholly owned investment arm of PIF.
Closing Bell: Saudi main index slightly dips to 11,278; Nomu gains
Parallel market Nomu gained 104.43 points to close at 27,448.22
MSCI Tadawul Index edged down 0.27% to 1,445.25
Updated 09 July 2025
Nirmal Narayanan
RIYADH: Saudi Arabia’s Tadawul All Share Index dropped marginally on Wednesday, shedding 16.34 points or 0.14 percent to close at 11,277.73.
The total trading turnover of the benchmark index was SR5.48 billion ($1.46 billion), with 140 of the listed stocks advancing and 109 declining.
The Kingdom’s parallel market Nomu, gained 104.43 points to close at 27,448.22.
The MSCI Tadawul Index edged down by 0.27 percent to 1,445.25.
The best-performing stock on the main market was Umm Al Qura for Development and Construction Co. The firm’s share price increased by 8.62 percent to SR26.70.
The share price of Saudi Real Estate Co. also rose by 7.68 percent to SR20.89.
Retal Urban Development Co. also saw its share price advance by 6.62 percent to SR16.10.
On the announcements front, Alinma Bank said that it completed the issuance of US dollar-denominated sukuk worth $500 million, under its Trust Certificate Issuance Program.
According to a press statement, the sukuk issue is expected to settle on July 15.
The share price of Alinma Bank declined by 1.19 percent to SR26.68.
Jahez International Co. for Information System Technology announced that it has signed an agreement to acquire a 76.56 percent stake in Snoonu Corporation Holding LLC, a Qatari-based technology and logistics firm that operates an e-commerce and on-demand delivery platform.
In a press statement, the company revealed that it will acquire 8.14 million shares, representing 75 percent of Snoonu’s share capital, from existing shareholders for $225 million.
Jahez will also subscribe to 723,960 newly issued shares in Snoonu, representing 1.56 percent of the stake, for $20 million.
The share price of Jahez edged up by 1.11 percent to SR27.44.
MENA mergers and acquisitions deals rise 149% to record $115.5bn in H1: LSEG
Deal volumes climbed 16% year on year, reaching highest level in three years
UAE drew $39.8 billion in M&A inflows, followed by Saudi Arabia at $3.5 billion
Updated 09 July 2025
Nirmal Narayanan
RIYADH: Mergers and acquisitions in the Middle East and North Africa region reached $115.5 billion in the first half of 2025, marking a 149 percent increase over the same period last year.
The London Stock Exchange Group said in its latest report that this marks the highest first-half total since it began tracking the data in 1980, highlighting the region’s resilience amid global economic headwinds.
Deal volumes in the region also climbed 16 percent year on year, reaching the highest level in three years.
The sharp uptick signals robust investor appetite despite macroeconomic uncertainty and builds on a solid 2024 performance, when MENA M&A deals rose 7 percent to $92.3 billion.
In February, US-based investment bank Morgan Stanley described the momentum as a “structural upswing” in deal volume and value, driven by regulatory reforms and strategic policy shifts across the region.
The rise in the Saudi Arabia’s IPO pipeline aligns with broader financial reforms. Shutterstock
“Deals involving a MENA target reached $48.0 billion, 18 percent more than the value recorded last year at this time and a level only exceeded once before, in 2019 when Saudi Aramco acquired a majority stake in SABIC,” LSEG said.
The analysis revealed that outbound M&A reached $64.5 billion, an all-time first-half record, while the number of outbound deals rose 8 percent.
The largest deal announced so far this year is Borealis AG’s $30.85 billion acquisition of Borouge PLC in the UAE, which is currently pending completion.
UAE and Saudi lead activity
The UAE was the top target country, drawing $39.8 billion in M&A inflows, followed by Saudi Arabia at $3.5 billion.
Earlier this year, global consulting firm EY said the two countries accounted for 318 M&A deals in 2024, worth $29.6 billion combined, citing improved capital markets, international investor interest, and regulatory liberalization as primary drivers.
In a sign of continued M&A momentum in Saudi Arabia, the General Authority for Competition approved a record 202 economic concentration requests in January, reflecting the Kingdom’s efforts to strengthen its competitive business environment.
Economic concentration approvals are required for mergers and acquisitions to ensure they do not create monopolies or disrupt market competition.
Sectoral breakdown
The materials sector dominated MENA-targeted M&A activity by value in the first half of the year, accounting for 67 percent of total deal value at $32.1 billion, largely driven by the UAE's ADNOC-OMV merger involving Borouge and Borealis, according to the latest LSEG report.
The financial sector followed with deals worth $3.3 billion, while the consumer products and services sector recorded $2.9 billion in transactions. The high technology and industrials sectors saw activity totaling $2.6 billion and $2.3 billion, respectively.
The UAE was the top target country, drawing $39.8 billion in M&A inflows. Shutterstock
M&A in the energy and power sector reached $2.2 billion during the same period.
London-based financial services group Rothschild led the MENA financial adviser league table for announced M&A deals in the first half, advising on transactions worth a combined $76.1 billion.
Equity capital markets
Equity and equity-related issuance in the MENA region totaled $7.6 billion in the first six months of the year, representing a 57 percent decline in value compared to the same period in the previous year.
Initial public offerings accounted for 59 percent of the total, while follow-on issuances made up the remaining 41 percent.
A total of 25 IPOs were recorded — two more than during the same period in 2024 — marking the highest such tally since 2008.
Collectively, these IPOs raised $4.5 billion, representing a 25 percent rise compared to the previous year.
“Low-cost airline flynas raised $1.1 billion in its stock market debut on Saudi Arabia’s main Tadawul exchange in May, the largest IPO in the region so far this year,” said LSEG.
A June report by Forbes Middle East said that Saudi Arabia’s equity capital market maintained strong momentum in the first half, with six companies raising a combined $2.8 billion through initial public offerings on Tadawul.
The rise in the Kingdom’s IPO pipeline aligns with broader financial reforms, as the Capital Market Authority has introduced new frameworks, including regulations for special purpose acquisition companies, to expand funding avenues and enhance private sector participation.
The LSEG report said proceeds raised from follow-on offerings reached $3.1 billion during the first quarter, largely boosted by Abu Dhabi's ADNOC Gas’s $2.8 billion share sale in February.
The energy and power sector led activity, with issuers raising a combined $2.8 billion, accounting for 38 percent of total equity capital raised in the region, followed by the real estate sector at 20 percent.
HSBC topped the MENA equity capital markets underwriting league table for the first half, with a 15 percent market share, followed by EFG Hermes at 11 percent.
Low-cost airline flynas raised $1.1 billion in its stock market debut on Saudi Arabia’s main Tadawul exchange in May. Shutterstock
Debt capital markets
MENA bond issuance totaled $86.8 billion in the first half, representing a 17 percent increase over the same period last year and marking the highest first-half total since 1980.
The number of bond issues also rose 17 percent year on year, surpassing all previous first-half records.
Saudi Arabia was the most active issuer, accounting for 52 percent of total bond proceeds, followed by the UAE at 25 percent, and Qatar at 8 percent.
Earlier this month, a report by S&P Global said Saudi Arabia’s domestic corporate bond and sukuk markets are poised for further growth, driven by Vision 2030 investments and ongoing regulatory reforms.
In April, Fitch Ratings reported that Saudi Arabia’s debt capital market reached $465.8 billion by the end of March, a 16 percent year-on-year increase, with sukuk making up 60.4 percent of the total.
The Kingdom’s debt market is expected to surpass $500 billion in outstanding value by the end of 2025, supported by strong economic fundamentals, diversified funding strategies, and continued progress under Vision 2030.
LSEG also said Islamic bonds in the region raised $32.2 billion in the first half — an all-time record for the period — representing a 14 percent increase over last year.
Sukuk accounted for 37 percent of total bond proceeds raised in the region, slightly down from 38 percent during the same period in 2024.
The materials sector dominated MENA-targeted M&A activity by value in the first half of the year, largely driven by the UAE’s ADNOC-OMV merger involving Borouge and Borealis. Shutterstock
HSBC led the MENA bond bookrunner rankings, handling $8.9 billion in proceeds, or a 10 percent market share in the first half.
Investment banking fees
LSEG estimated that $773.7 million in investment banking fees were generated in the MENA region, a 2 percent decline from the same period in 2024, but still the third-highest first-half total since 2000.
Debt capital markets underwriting fees rose 20 percent year on year to $278.9 million in the first six months.
However, equity market underwriting fees dropped to a two-year low of $169.9 million, reflecting an 18 percent year-on-year decline.
“Advisory fees earned from completed M&A transactions totalled $191 million, 52 percent more than the value registered last year at this time and the highest first-half total since 2022,” said LSEG.
According to the report, Saudi Arabia accounted for 41 percent of all MENA investment banking fees, followed by the UAE at 35 percent, and Qatar at 7 percent.
HSBC earned the most investment banking fees in the region, collecting $64 million, or an 8 percent share of the total fee pool.