2026-10-30 · Semafor
🔮 Still, as elsewhere, markets are not the economy: The IMF has forecast a 4.8% contraction in the Gulf’s GDP in 2026, but stocks haven’t plunged as much, suggesting stronger-than-expected corporate earnings have supported valuations.
Within the relatively thin universe of equities, one name outshines all: Saudi Aramco accounted for about 72% of the combined earnings of Tadawul-listed companies in the first half of the year. mixed