Saudi Market Extends Gains on Support from Blue-Chip Stocks

Two men talk at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia. (Reuters)
Two men talk at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia. (Reuters)
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Saudi Market Extends Gains on Support from Blue-Chip Stocks

Two men talk at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia. (Reuters)
Two men talk at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia. (Reuters)

The Saudi Stock Exchange's main index (TASI) ended Wednesday's session up 0.3%, closing at 10,888 points, a gain of 29 points and its highest close in more than a month. Total trading turnover reached approximately SAR 5.1 billion.

Blue-chip stocks supported the market's advance. Shares of Al Rajhi Bank rose 1% to SAR 65, while ACWA Power climbed 3% to SAR 201.30. Maaden also gained 2%, closing at SAR 59.60.

Shares of Alandalus Sports Clubs, Al Wataniya, ACIG, Aslak, and PCI advanced between 5% and 10%.

On the downside, Saudi Aramco slipped 1% to SAR 26.74, while The Saudi Investment Bank fell 2% to SAR 13.80 after trading ex-dividend for its cash distribution.

Several stocks came under pressure following the release of their financial results. Retal and Marafiq declined 8% and 10%, respectively, after reporting losses for the second quarter of 2026.

Meanwhile, Lumi Rental recorded its lowest closing price since its market debut, falling 5% to SAR 27.24, after the company announced an 80% year-on-year decline in second-quarter profit.



Container Ship Arrives in UK After Voyage from China via Arctic

The Dubai Tower, a Chinese cargo ship, arrives in Teesport, Britain, September 9, 2026. (Reuters)
The Dubai Tower, a Chinese cargo ship, arrives in Teesport, Britain, September 9, 2026. (Reuters)
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Container Ship Arrives in UK After Voyage from China via Arctic

The Dubai Tower, a Chinese cargo ship, arrives in Teesport, Britain, September 9, 2026. (Reuters)
The Dubai Tower, a Chinese cargo ship, arrives in Teesport, Britain, September 9, 2026. (Reuters)

A ‌container ship arrived in Britain on Wednesday after a landmark voyage from China via the Arctic, as part of plans for more vessels to use the route as a shorter and potentially safer alternative to the Suez Canal.

The Dubai ‌Tower arrived ‌at Teesport off England's ‌northeast coast ⁠after leaving eastern ⁠China on August 15.

The Arctic voyage, which is significantly quicker compared to freighters going through the Suez Canal or around the Cape of Good ⁠Hope, is intended to ‌be the ‌start of a regular container service ‌to Europe via the so-called ‌North Sea Route.

A South Korean container ship is also currently making a similar voyage, joining China and ‌Russia in having shipping firms testing cargo services along ⁠the ⁠route, which is more feasible due to faster melting of Arctic sea ice.

The route offers shorter journeys and avoids security risks in the Middle East, as the US war with Iran continues. But weather and sailing conditions can be unpredictable and its commercial feasibility is uncertain.


Riyadh Ranked Among Top 100 Global Innovation Clusters

A view of Riyadh, Saudi Arabia. (SPA)
A view of Riyadh, Saudi Arabia. (SPA)
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Riyadh Ranked Among Top 100 Global Innovation Clusters

A view of Riyadh, Saudi Arabia. (SPA)
A view of Riyadh, Saudi Arabia. (SPA)

The Global Innovation Index has ranked Riyadh among the top 100 innovation clusters worldwide for 2026, making it the only Gulf city to attain this classification.

Riyadh placed 92nd globally, with key metrics including 419 venture capital deals in innovation and 162 international patent applications filed.

The report highlighted the main entities contributing to the capital's position in research and innovation. In research, King Saud University, Princess Nourah bint Abdulrahman University, and Prince Sultan University led the efforts, while SABIC and Aramco spearheaded innovation contributions.

The ranking reflects the Kingdom's integrated research and innovation ecosystem, supporting researchers and innovators in line with Saudi Vision 2030.


Türkiye to Start Oil-Targeted Drilling in Western Black Sea Soon, Minister Says

Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)
Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)
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Türkiye to Start Oil-Targeted Drilling in Western Black Sea Soon, Minister Says

Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)
Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)

Türkiye will soon begin drilling a challenging oil-targeted well in the western Black Sea, Energy Minister Alparslan Bayraktar said ‌on Wednesday.

"We ‌will soon ‌begin ⁠drilling an oil-targeted ⁠well in the western Black Sea. It will be a difficult ⁠drilling operation and will ‌take ‌some time," ‌Bayraktar told broadcaster ‌CNBC-e.

Türkiye has previously said it plans six exploration ‌wells across the western, central and eastern ⁠Black ⁠Sea in 2026 as it seeks new oil and natural gas discoveries.