PIF and Saudi Aramco completed Aramco's acquisition of 49% of Humain, with PIF keeping 51%. Aramco will put in cash contributions of about SAR 9.9 billion ($2.6 billion) in 2026, plus its AI, computing and digital assets. Humain plans to expand its AI data centres to a total capacity of 3 gigawatts by 2030.
The kingdom’s two biggest state-backed funds now both own a stake in the same AI company. This means Humain is no longer just a PIF project—it is now the national platform that other market players must adapt to.
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Two banks, opposite risk calls
Alinma Bank raised its 2026 cost-of-risk target for a second straight quarter, to 0.55%–0.65% from 0.45%–0.55%, citing provisions for one customer after a major project contract was cancelled, and cut its ROE target to around 17% from 18%–19%. The same day, Arab National Bank lowered its cost-of-risk guidance to 0.30%–0.40% from 0.40%–0.50%.
On the same day, two banks in the same market saw their cost of risk move in opposite directions. This suggests that credit stress is affecting certain loan books rather than the whole system.
Riyadh climbs forty-seven places
Riyadh rose 47 places to rank 50th worldwide among 1,000 cities across 163 countries in Oxford Economics' 2026 Global Cities Index, after placing 118th in 2024 and 97th in 2025; the index scores cities on five pillars and 27 sub-indicators covering economics, human capital, quality of life, environment and governance.
Moving from 118th to 50th in two years reflects both strong performance and city improvement. Companies considering a regional headquarters should highlight this in their internal proposals, as boards typically accept such external rankings without question.
Cybersecurity becomes managed service
Purity Information Technology signed a SAR9.3 million contract, including VAT, with Qassim Emirate for three years of operation, maintenance and cybersecurity support services.
The SAR9.3 million, three-year contract makes cybersecurity an operating commitment; manage service quality and incident response as tightly as the initial technical delivery.
