Saudi Arabia’s stock market rose Thursday in the first session of the new year, while most other regional bourses remained closed.
Saudi Arabia’s benchmark index gained 0.6%, supported by broad-based buying led by consumer staples, information technology and utilities.
Riyad Bank rose 1.7% and ACWA Power added 1.2%.
Saudi Arabia’s National Debt Management Center said on Wednesday it had completed arrangements for a $13bn, seven-year syndicated loan to help finance power, water and public utilities projects.
Among individual stocks, Al Khaleej Training and Education jumped 7.6% after its unit signed a contract with the Saudi Electricity Regulatory Authority to operate and manage the authority’s contact centre and digital channels.
In Oman, the stock index edged up 0.5%, with most constituents higher.
OQ Exploration and Production gained 1.4% and Oman Telecommunications climbed 1.6%.
Separately, Oman, a small Gulf oil producer, approved Thursday its 2026 budget with a deficit of 530mn Omani rials ($1.38bn), which accounts for 1.3% of national output, the state news agency reported.
Oman expects total spending of 11.977bn rials in 2026, up 1.5% from 2025, the state news agency said.
The Gulf country, which is largely reliant on oil, based this year’s budget on an average oil price of $60 per barrel.
It expects revenues of 11.447bn rials, up 2.4% from 2025, the state news agency added.
Oman said it expects the public debt to reach 14.6bn Omani rials ($38.02bn) by the end of 2026, which accounts for 36% of national output.
