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- Trump Approves $10B+ Saudi Nuclear Deal; US Reopens Direct Lebanon Flights; Saudi Exchange Leads GCC With $1.6B Inflows
Trump Approves $10B+ Saudi Nuclear Deal; US Reopens Direct Lebanon Flights; Saudi Exchange Leads GCC With $1.6B Inflows
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Thursday, July 23, 2026
Happy Thursday everyone!
Washington and Riyadh are deepening bilateral economic and security ties while US-Lebanon transport routes resume after a four-decade pause. President Donald Trump approved a 30-year, multi-billion-dollar civil nuclear agreement giving US firms a central role in developing Saudi Arabia’s nuclear infrastructure and potential uranium enrichment. Following a White House meeting with Lebanese President Joseph Aoun, Trump also authorized the reopening of direct US-Lebanon flights, ending a suspension in place since 1985. Meanwhile, capital markets reflect shifting regional confidence, as the Saudi Exchange attracted $1.6 billion in net foreign inflows during the second quarter—making it the sole GCC stock market to record net foreign buying while regional peers faced steady capital outflows.
Markets
EGX30 | 53,931.92 | 0.11% |
DFMGI | 5,785.31 | 0.47% |
ADX | 10,264.14 | 0.11% |
Tadawul | 10,775.46 | 0.72% |
Washington Authorizes Decades-Long Civil Nuclear Partnership With Saudi Arabia
What Is It About
The White House approved a 30-year nuclear cooperation framework that allows American engineering firms to build civilian energy infrastructure across Saudi Arabia. The multi-billion-dollar arrangement outlines terms for constructing nuclear power plants and establishes federal US oversight mechanisms. Under the agreement, both governments are reviewing provisions that could allow for the future construction of a domestic uranium enrichment facility inside the Kingdom.
Building on Previous Military Treaties: The civil nuclear framework follows a record $142 billion defense pact signed last year and a subsequent $2 billion weapons export package.
Long-Term Oversight Clause: Federal inspectors will maintain active regulatory monitoring over fuel handling and facility operations.
Commercial Supply Mandates: American engineering corporations will secure priority contractor status for commercial reactor construction tenders.
Why It Matters
Granting Saudi Arabia access to US nuclear technology locks in decades of commercial and security alignment between Washington and Riyadh. Securing American regulatory oversight prevents competing nuclear exporters from establishing deep operational roots within the Arabian Peninsula. For the Kingdom, expanding its domestic energy mix with nuclear generation preserves valuable crude oil reserves for export markets while providing baseline electricity for industrial expansion plans.
What’s Next
Government agencies in both countries will draft the detailed safety and non-proliferation protocols required before ground-breaking can occur. Congressional oversight committees will review the legal framework before private engineering firms submit finalized site designs.
Legislative Review Sessions: US lawmakers will evaluate the oversight provisions over the coming legislative period.
Site Selection Audits: Nuclear safety engineers will initiate geographic surveys to pinpoint optimal reactor locations across the Kingdom.
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United States Reopens Direct Air Corridor to Beirut Following Presidential Summit
What Is It About
US President Donald Trump ordered federal transportation agencies to authorize direct flights between American cities and Beirut, lifting an aviation ban originally imposed in 1985. The directive was announced during an official White House visit with Lebanese President Joseph Aoun, marking the first formal summit between the two heads of state in nearly two decades. The discussions centered on regional security stabilization, bilateral trade support, and economic recovery programs.
Ending Four-Decade Suspension: The direct air route had remained closed continuously since the TWA Flight 847 hijacking in 1985.
Why It Matters
Restoring direct air travel provides an immediate boost to Lebanon's struggling economy by simplifying transport for business travelers and the global Lebanese diaspora. Reopening commercial routes reflects growing confidence in Beirut’s airport security standards and signals an intentional effort by Washington to normalize diplomatic and commercial relations. The move helps lower shipping costs and travel times, laying the groundwork for increased trade and foreign investment.
Reconnecting Commercial Networks: Direct flights allow international investors and diaspora capital to access local real estate and corporate assets faster.
What’s Next
Aviation regulators and international airport security teams will conduct joint inspections at Beirut-Rafiic Hariri International Airport. Commercial airlines will then publish their flight schedules and begin booking tickets once final safety clearances are issued.
Saudi Exchange Secures Outsized Capital Inflows as Regional Peers Experience Foreign Outflows
What Is It About
The Saudi Exchange attracted $1.6 billion in net foreign portfolio inflows during the second quarter, according to data published by Kamco Invest. While neighboring Gulf markets faced continuous foreign capital withdrawals due to lower oil prices and geopolitical risks around the Strait of Hormuz, Riyadh stood out as the region's sole recipient of positive foreign net buying. Overall quarterly trading values on the exchange expanded to $86.4 billion, with major listed corporations driving liquidity.
Diverging Regional Sentiments: Dubai, Kuwait, Qatar, and Abu Dhabi recorded net foreign capital outflows during the same three-month window.
Heavyweight Liquidity Anchors: Five Saudi-listed firms ranked among the ten most actively traded equities across the entire GCC.
Top Traded Asset Classes: Financial institutions like Al Rajhi Bank led regional trading volumes, recording $6.9 billion in single-stock turnover.
Why It Matters
The concentration of foreign capital highlights growing international confidence in Saudi Arabia’s domestic economic reforms compared to its regional peers. Deepening liquidity on Tadawul shows that institutional investors view large-cap Saudi equities as a safe hedge during periods of volatile global interest rates and shifting oil prices. Maintaining steady capital inflows gives domestic companies access to lower-cost equity funding, supporting large-scale infrastructure projects under Vision 2030.
What’s Next
Market analysts will review upcoming third-quarter corporate earnings releases to evaluate if listed Saudi companies can maintain their current dividend payouts. Index providers will track foreign ownership levels across non-financial sectors to determine if institutional buying is spreading beyond major banks.
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Smashi Business Exclusive: Al Haboob Racing Founders On Turning Camel Racing Into A Global Franchise Model
Ahmed Al Haboob and Safwan Modir, founders of Al Haboob Racing, spoke on Smashi Business about building the world’s first professional camel racing team in Saudi Arabia. They explained how they are transforming a traditional, individual sport into a structured, franchise-style model inspired by Formula 1, with teams, sponsorships and long-term commercial value.
The founders discussed leaving corporate careers during the pandemic to pursue entrepreneurship in a “virgin” sports market, despite high operational risks tied to livestock performance. They also highlighted media ventures like their Netflix series Camel Quest, partnerships including Paul Pogba, and their vision to modernize the sport using data and technology.
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