Tadawul Group Q2 profit −4% to SR92M, sixth straight annual decline, while data services grew 13.7%.
An exchange earning less in a market this active is a warning about volumes, the thin tape has landed in someone's earnings.
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Bad loans eat eXtra's profit
United Electronics Co. (eXtra) said Q3 2026 net profit fell about 27% to SAR 105 million from SAR 143 million. Profit in its consumer finance segment fell 82.4%, with net impairment losses of SAR 70.1 million in the quarter; over nine months, impairments included a SAR 33.8 million management overlay to raise coverage and speed write-offs. Retail profit rose 10.6%, and revenue grew 5.5% to SAR 1.89 billion.
The retail business increased its profit by 10.6%, while consumer finance profit declined by 82.4%. This indicates that eXtra's quarterly results were driven by credit factors rather than consumer demand.
Four billion dollars, free
Adobe, the Ministry of Communications and Information Technology and HUMAIN signed a partnership valued at more than $4 billion, giving more than 27 million citizens and residents aged 13 and above free access to Adobe Firefly Standard and Express Premium for 12 months. The agreement covers a culturally-tailored image generation model, Arabic right-to-left support, and free access for eligible startups through CODE and The Garage from early 2027.
$4 billion worth of software given to 27 million people is really a distribution strategy, not a donation. Adobe is securing its user base before anyone else can shape what creative tools look like in Arabic.
Retail sells, companies buy
Tadawul's market capitalisation slipped SAR 8.9 billion, or 0.10%, to SAR 9.299 trillion in the week ended 24 September, from SAR 9.308 trillion a week earlier. Foreign investors cut holdings by SAR 6.23 billion to 4.73% of total market capital, with foreign institutions alone selling SAR 5.55 billion, while Saudi retail investors reduced positions by SAR 14.33 billion and Saudi corporates increased theirs by SAR 13.06 billion.
Since domestic corporate money is now the main source of new investment, a CFO planning a Saudi equity raise should first check interest with local companies before arranging meetings with international investors.
