AGP Executive Report

Iran-US Tension Shift: US President Donald Trump abruptly cancelled planned strikes and bombings on Iran, saying talks reached the “highest level” of Iranian leadership and that a peace deal could be signed within days, potentially reopening the Strait of Hormuz; Iran’s side pushed back, saying no final decision has been made, while Trump also said the US naval blockade would stay until a transaction is finalized. Saudi Diplomacy: Saudi envoy Prince Sultan bin Saad Al Saud pledged stronger diplomatic cooperation in Kuwait, stressing joint action to tackle regional challenges. Saudi Sports Business: Reports say Saudi PIF has funded only about a third of what LIV Golf needs to finish the 2026 season, raising questions over the league’s remaining events. World Cup Spotlight (Saudi-linked): Mexico beat South Africa 2-0 in the 2026 opener with three red cards; Julián Quiñones, top scorer in the Saudi league this season, scored Mexico’s first goal. Saudi Economy/Markets: Oil prices stayed steady-to-lower as strike fears eased, while broader market moves tracked the Iran announcement.

World Cup 2026 Kickoff: The 48-team tournament begins today with Mexico vs. South Africa at Estadio Azteca, followed by a full 104-match run through July 19, with Spain widely tipped as a top contender and plenty of Saudi-linked viewing guides circulating for fans. Saudi-Lebanon Trade Thaw: Saudi Arabia has lifted its five-year ban on Lebanese imports, ordering the resumption of exports after steps to rebuild Lebanese state institutions, a move framed as support for Lebanon’s economy. Saudi Water Leadership: The Saudi Water Authority says IDWS 2026 returns Dec. 7–9 in Jeddah, aiming to bring 10,000+ participants and a major focus on water governance amid growing scarcity pressures. Energy & Markets: Saudi crude sales to China are expected to stay at record lows in July as Chinese refiners avoid high-priced barrels, while Gulf stocks drift lower amid renewed US-Iran tensions. Infrastructure & Industry: Saipem won a €900m contract for Saudi Arabia’s Uthmaniyah gas compression plant, and Saudi Arabia’s Wildlife Destinations initiative was announced to expand managed nature experiences tied to conservation goals.

Middle East Tensions: US President Donald Trump said the US will attack Iran if no peace deal is reached, after Iran downed a US Apache near the Strait of Hormuz; he also claimed a secret US mission escorted oil tankers through the strait, while Iran condemned renewed “military aggression” and said it called Saudi and Turkey to discuss developments. Diplomacy & Energy: French President Emmanuel Macron invited Egypt, Saudi Arabia, Qatar and the UAE to a G7 working session in Evian focused on the war, Hormuz and negotiations on Iran—aiming to address economic fallout. Gulf Connectivity: Türkiye and Saudi Arabia signed MoUs on logistics services and railway cooperation, with plans to modernize the Hejaz Railway as an alternative trade route. Saudi Economy & Trade: Saudi Arabia ended its five-year ban on Lebanese imports, a move meant to thaw Gulf-Lebanon ties after the 2021 Captagon-smuggling allegations. World Cup Spotlight: The 2026 FIFA World Cup begins June 11 across the US, Mexico and Canada with record Arab representation including Saudi Arabia; Saudi fans and the team are in the spotlight as the tournament’s biggest-ever format kicks off. Sports Business: LIV Golf’s Saudi-backed funding may end earlier than planned, leaving the 2026 schedule uncertain.

Riyadh Air Launch: Saudi Arabia’s new national carrier, Riyadh Air, finally took off with its second Dreamliner after more than a year of delays, aiming to turn the capital into a global hub despite regional instability. Port Expansion: Saudi Global Ports won a $528m deal to expand and modernize the container terminal at Jubail Commercial Port, boosting capacity to about 2.4m TEUs a year. Turkey-Saudi Connectivity: Saudi and Türkiye signed MoUs to deepen logistics and railway cooperation, including railway digitalization and industry localization. Hormuz Pressure on Trade: With the Strait of Hormuz effectively shut amid the Iran-US standoff, Saudi-linked routes and the Suez Canal saw shifting tanker flows, while Iran warned talks with the US can’t continue amid ceasefire violations. Oil Outlook: Riyad Capital expects Saudi oil activity to rebound strongly in 2027 as export routes gradually normalize. Tech & Industry Moves: Budget Saudi reported a limited customer data breach on its app, while HUMAIN and NVIDIA announced a robotaxi-ready AI platform push for Saudi and the region. World Cup Buzz: Saudi football coverage ramps up as FIFA 2026 kicks off, with broadcast details and local fan interest rising.

Saudi-Yemen Missile Update: Saudi Arabia’s defense ministry said a missile launched from Yemen was heading toward a “regional country,” then deviated and fell in an open area near the Saudi-Yemeni border, as Iran denied launching any attack and Houthis said they targeted Israel. World Cup Countdown: FIFA confirmed the 2026 World Cup’s expanded 48-team format and full group-stage schedule, with Saudi Arabia set to open Group H against Uruguay in Miami. Health Warning: Saudi Arabia’s Health Ministry cautioned against the “Tayyibat Diet,” saying people landed in intensive care after stopping insulin based on unproven claims. LIV Golf Uncertainty: LIV Golf CEO Scott O’Neil refused to guarantee the league’s final four 2026 events, saying the Saudi PIF has funded through the season while reports suggest remaining tournaments may be “on the fence.” Regional Ties: Saudi Arabia and Türkiye signed a railway and transport cooperation deal covering logistics, infrastructure, technology transfer, and workforce training.

GCC Trade Tech: The GCC Customs Union Authority launched the “Taiseer System,” a centralized digital platform to remove trade obstacles and streamline customs procedures across member states. World Cup 2026 (Saudi angle): With the tournament starting June 11, FIFA’s expanded 48-team format means Saudi Arabia is in Group H, and Spain’s warmup win over Peru keeps the favorites talk loud as fans map kickoff times across Europe, Africa and the Middle East. Energy & Shipping: Strait of Hormuz disruption remains a major oil-market worry, with analysts saying any reopening could quickly ease supply pressure, while uncertainty keeps prices volatile. Saudi Business & Real Estate: Alramz signed a deal to launch a Shariah-compliant Riyadh residential fund worth SAR 370m to build about 290 apartments. Education & AI: illumine and Arabian Child teamed up to help Saudi childcare providers improve quality, compliance and operations using AI-powered tools and training. Infrastructure & Power: Saudi-listed Alramz and other project updates add momentum, while regional policy moves continue to shape investment pipelines.

Saudi Missile Update: Saudi Arabia’s Ministry of Defense says a ballistic missile launched from Yemen failed due to technical issues, veered off course, and landed in an uninhabited area near the Saudi-Yemeni border, after earlier denials of any strike on Prince Sultan Air Base. Regional Security: Israel and Iran appeared to pause further strikes after trading fire, with both sides warning they would retaliate if provoked, as the renewed flare-up raised fears of a wider regional war. Food Safety Crackdown: Saudi SFDA moved against 1,753 non-compliant food establishments and blocked 1,057 tons of substandard products, citing contamination risks and violations in storage and transport. Ujjwala LPG Cut: India’s government reduced subsidised Ujjwala LPG cylinders for beneficiaries to four per year, citing consumption patterns amid rising global costs. Sports Business: Saudi Arabia launched EOI/RFQ for privatisation of five more sports clubs, with prequalification applications due July 5. Supreme Court on CBSE: India’s Supreme Court told CBSE to “burn the midnight oil” and submit a plan by Friday to declare withheld Class 12 improvement results for a Saudi-based student.

Middle East Energy Shock: Oil jumped more than 3% as Israel and Iran traded strikes again, with the Strait of Hormuz still effectively shut and traders warning the escalation could drag on and hit supplies. Red Sea Shipping Risk: Houthis declared a complete ban on Israeli shipping and warned of renewed attacks in the Red Sea and Bab al-Mandab, raising fears for global trade and energy routes. OPEC+ Watch: OPEC+ met to consider higher July output quotas, but analysts say geopolitics may limit any real price relief. Saudi Culture Spotlight: Saudi Arabia wrapped up its guest-of-honor participation at the 2026 Kuala Lumpur International Book Fair, showcasing literature, heritage, and translation through a large pavilion program. Saudi Business & Finance: Standard Chartered Capital Saudi Arabia received CMA approval to expand onshore investment management and fund operations. Weather Alert: Saudi NCM forecast rain and thunderstorms across parts of Jazan, Asir, Al Baha and Makkah through the week. Defense Contract: Navantia signed a five-year support deal for Saudi Navy AVANTE 2200 corvettes, including maintenance, spare parts, and localization plans.

OPEC+ Oil Policy: OPEC+ approved a fourth straight increase in July oil output quotas, adding 188,000 barrels per day despite the Strait of Hormuz still disrupting real exports—Reuters reports Saudi Arabia is among the seven key members raising targets. Regional Energy Pressure: A separate Bloomberg survey says OPEC crude output fell in May to the lowest in 37 years as the Iran war and US blockade kept flows constrained, with Saudi production also down. Saudi in the Mix: The July quota hike was agreed in a virtual meeting that included Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, with ministers stressing flexibility if market conditions change. Saudi Sports & Culture: Prince Khaled bin Alwaleed outlined a “future worth building” vision at SXSW London, linking city development, AI and public health. Riyadh Spotlight: A guide lists top things to do in Riyadh this week, while Saudi Arabia also highlighted cultural ties through an India–Saudi classical music concert in Riyadh. Humanitarian Note: KSrelief distributed 25,000 hot meals in Gaza as a new aid convoy arrived.

World Cup Prep: Saudi Arabia beat Puerto Rico 3-0 in a friendly after a near-two-hour weather delay, with goals from Sultan Mandash, Abdullah Al Hamdan and Salem Al Dawsari; the win comes ahead of a June 9 clash with Senegal before Saudi’s Group H opener vs Spain, Uruguay and Cape Verde. Energy & Security: Saudi Energy Minister Prince Abdulaziz bin Salman said the Kingdom will remain a reliable energy supplier “under all circumstances,” pointing to resilience amid geopolitical strain. Trade Controls: The Saudi Cabinet moved export bans and restrictions under a single export-control governance committee, standardizing how such decisions are made. Minerals Push: Saudi Arabia is seeking deeper Russia ties in rare earths and critical minerals, with cooperation framed as strengthening global supply chains. Aviation Accessibility: Saudi GACA signed an MoU with the Saudi Sign Language Association to improve services for deaf and hard-of-hearing passengers. Air Connectivity: Saudia and Myanmar Airways agreed a special prorate deal enabling one-itinerary bookings between Saudi cities and Yangon via regional hubs. Business & Diplomacy: SABCCI inaugurated its office in Dhaka to boost Saudi-Bangladesh trade and investment. Sports Business: Red Sea Global released “Red Sea Waves Vol. 2,” a music album meant to spotlight Saudi cultural roots through regenerative tourism branding.

Gulf Security: Saudi Arabia reiterated its full solidarity with Bahrain and Kuwait after Iran launched fresh missile and drone attacks, with Kuwait temporarily closing airspace and diverting 11 flights before reopening it once threats were intercepted. Regional Diplomacy: Saudi, Egypt and Qatar condemned the strikes as dangerous escalation and violations of sovereignty, while Iran also attacked the IAEA over “political pressure” tied to access to nuclear sites. Trade & Economy: GCC listed companies’ Q1 2026 profits hit a record $67.9bn, led by Saudi earnings, as regional markets weigh the impact of the Iran-linked security shock. Saudi Business & Enforcement: ZATCA reported 686 contraband seizures last week, including major drug hauls, as Saudi continues tightening customs oversight. Saudi-Linked Investment: A Saudi investor profile highlights $1.5bn in tech deals facilitated from the Gulf into US markets, underscoring Riyadh’s push into global innovation capital. Sports: Saudi Arabia’s Al-Khaleej opened World Club Handball Championship action, setting up more matches in the Kuwait-hosted tournament.

Foreign Investment Rules: Saudi Arabia’s Ministry of Investment updated 2026 guidelines for non-resident foreign companies to own property, requiring home-country registration, translated and embassy-authenticated documents, a Saudi-appointed representative, and digital identity via missions. Anti-Corruption Protection: Saudi Arabia is rolling out measures to shield whistleblowers, witnesses and victims in corruption cases, aiming to strengthen reporting and legal protection. Gulf Tensions: The US and Iran exchanged fresh strikes across the Gulf despite an April ceasefire, with drones intercepted near the Strait of Hormuz and missile responses reported involving Kuwait and Bahrain. Regional Air Safety: Kuwait reopened its airspace after a precautionary closure tied to Iranian missile and drone attacks, with flights diverted to Riyadh and Dammam before normal operations resumed. Culture & Language Ties: Saudi Arabia and Malaysia’s translators signed an MoU at KLIBF 2026 to boost translation, publishing and cultural exchange. Sports (Saudi on the pitch): Saudi beat Puerto Rico 3-0 in a weather-hit friendly, their first win under coach Georgios Donis ahead of the World Cup. Heritage Find: Archaeologists at Diriyah uncovered a jar packed with 100+ Abbasid-era gold, silver and gemstone jewellery.

Legal Reform: Saudi Arabia has launched a new program to protect whistleblowers, witnesses, experts and victims in criminal and corruption cases, with courts able to hear testimony privately and, in some situations, keep identities out of rulings. Nuclear Safety: Qatar reiterated its condemnation of the attack on the UAE’s Barakah Nuclear Power Plant at an IAEA emergency session, warning of serious risks to nuclear safety across the region; the IAEA also praised the UAE’s response. Iran Nuclear Claims: Iran’s semi-official media rejected a report that Tehran agreed to transfer enriched uranium to a third country, saying nuclear issues are not on the current agenda. Regional Diplomacy: Saudi Crown Prince Mohammed bin Salman spoke by phone with Lebanon’s President Joseph Aoun, discussing regional developments and security stability efforts. World Cup Focus: Saudi Arabia’s World Cup build-up continues, including coverage of the tournament format and Saudi squad context as the 2026 finals approach. Sports Coaching: Former Saudi national team assistant Yaya Touré has reportedly agreed to become head coach of Slovan Bratislava, marking his first major senior role.

Saudi Security & Justice: A 21-year-old Saudi man was arrested in the UK after a crossbow attack at the University of Surrey left a campus safety staff member in serious condition, with police saying they are not looking for anyone else. Saudi Economy & Energy: Saudi energy minister reiterated the kingdom will remain a reliable energy supplier under all circumstances, while Aramco awarded McDermott a long-term project management consultancy deal for major energy and downstream work across Saudi Arabia. Saudi Business & Investment: Saudi-Hong Kong ties are set to deepen in finance, new energy, AI and infrastructure as the Saudi-Hong Kong Business Council pushes Vision 2030 alignment. Saudi Real Estate: ROSHN Group signed a new partnership with Tatweer to design, build and supervise a public educational facility in East Riyadh’s WAREFA community for up to 500 students. Saudi Events Growth: Forecasts project Saudi Arabia’s events market will jump from $6.1bn (2021) to $17.6bn by 2031, driven by sports, concerts and sponsorship spending. Regional Energy Shock: A new report warns methanol prices are likely to stay above pre-war levels in 2026 as Gulf supply and Hormuz-linked logistics remain vulnerable. Hajj Update: Nigeria’s NAHCON confirmed the safe return of 1,905 Nigerian pilgrims and officials from Saudi Arabia after the 2026 Hajj.

Saudi-Russia Energy Diplomacy: Saudi Energy Minister Prince Abdulaziz bin Salman met Russia’s Alexander Novak at the St. Petersburg International Economic Forum, urging stability in global energy markets amid OPEC+ disruption and war-driven uncertainty. Aviation Milestone for Riyadh Air: Riyadh Air received its first two new-build Boeing 787-9 Dreamliners after months of Boeing delays, a key step ahead of the airline’s public route launch. SpaceX IPO Buzz Hits Saudi Markets: Kingdom Holding shares slid sharply after disclosing its SpaceX stake value, as investors track the record $75bn IPO priced at $135 per share. Regional Travel Warning: The U.S. issued a Level 3 “Reconsider Travel” alert for Saudi and other Gulf states, citing fast-changing security risks tied to Iran-related tensions. Local Incident in the UK: Surrey Police arrested a 21-year-old Saudi national on suspicion of attempted murder after a crossbow shooting at the University of Surrey campus left a man in serious condition. World Cup Focus: ESPN previewed the expanded 48-team 2026 World Cup, including the U.S. roster and Group D opponents (Turkey, Australia, Paraguay).

Aramco Dealmaking: McDermott has been selected by Saudi Aramco for a multi-year project management consultancy long-term agreement, partnering with local firm SLFE to deliver engineering and front-end work for major energy, downstream, petrochemical and low-carbon projects. Power Expansion: Korea Electric Power Corp (KEPCO) won the second phase of Aramco’s Jafurah cogeneration project, signing power and steam sales deals and a construction contract via Doosan Enerbility, with output set to run for 17 years after a June 2029 completion. Regional Diplomacy: Saudi Arabia’s foreign minister held talks with Jordan’s FM and received a message from South Korea’s counterpart, as Gulf states push for de-escalation amid wider Middle East tensions. Hajj Operations: First groups of returning pilgrims continue to arrive home as Saudi’s post-Hajj phase moves forward following a 1447 AH season described as epidemic-free. Business & Markets: Saudi-listed Kingdom Holding said it holds a stake in SpaceX valued at SAR 16.76bn, as SpaceX targets a record $75bn IPO at $135 per share. Sports (World Cup): Saudi Arabia’s World Cup preparations continue, with attention on heat risks across host cities and match scheduling.