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Latest Signals
Short observations on markets, growth, technology, and decision-making.
Now the burger chain discloses
The 2027 electricity tariff disclosures have reached consumer-facing companies. Burgerizzr expects about a 1% rise in annual cost of revenue. National Gypsum expects annual production costs to rise about 1%. Watani Steel expects total cost of sales to rise 1.12%. National Building & Marketing expects its subsidiary Ajeej Steel's energy costs to rise about SAR 3.5 million from 2027.
When a restaurant chain reports the same 1% as a gypsum plant, it shows that the tariff change is affecting every part of the economy that uses power, not just heavy industry.
Ten banks, SAR 73.58 billion
Combined nine-month net profit at the 10 banks listed on the main market rose 6.84% to SAR 73.58 billion, from SAR 68.87 billion a year earlier. Al Rajhi led with SAR 20.87 billion, up 13.3%, ahead of SNB at SAR 19.48 billion, up 4.57%. Q3 profit alone rose 4.8% to SAR 24.75 billion, and SNB's Q3 was down 0.29%.
Nine-month growth of 6.84% has slowed to 4.8% in Q3. The sector is still growing, but momentum is fading. If you manage strategy at a mid-sized Saudi bank, focus on leading in a specific segment instead of trying to match Al Rajhi's balance sheet.
SeaPay sold for SAR 35 million
Arab Sea Information System signed an MoU with PayTabs Group to sell its entire stake in its wholly owned payments subsidiary, Arab Sea Financial Co. (SeaPay), for SAR 35 million. The MoU is valid for six months, and the deal still needs due diligence, a final agreement and regulatory approvals.
Payment licences are now being bought and sold as assets. If you’re a founder of a licensed Saudi fintech, it’s important to know what your licence is worth before deals like this SAR 35 million sale set the standard.
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0.58% → 1.8%
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