The weekly Saudi Market Review highlighted a slight decline in TASI by 0.55%. Saudi Arabia's LEAP tech conference expects to secure $11.9 billion in investments, focusing on AI and cloud infrastructure, with Amazon Web Services and Aramco's METABRAIN enhancing regional digital capabilities. Dell Technologies is establishing a new center in Riyadh. Amidst the AI surge, Amazon and Dell stocks have seen significant gains. A memorandum between Saudi Arabia and Bahrain's sovereign wealth funds aims to bolster investment cooperation. Corporate highlights include STC Bank's record profit margin, Arabian Pipes Co.'s sales surge, and Saudi Arabian Amiantit Company's rights trading period ending. Modern Mills Company's IPO attracted considerable interest. The report also noted that the Tadawul Index typically grows during Ramadan, with unchanged trading hours and announced Eid Al Fitr holiday dates.
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Saudi Market Recap (3.3-3.7)
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