{"id":103757,"date":"2026-01-06T00:00:00","date_gmt":"2026-01-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=103757"},"modified":"2026-01-06T09:08:58","modified_gmt":"2026-01-06T09:08:58","slug":"pif-leads-global-swfs-as-biggest-investor-in-2025","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/pif-leads-global-swfs-as-biggest-investor-in-2025\/","title":{"rendered":"PIF leads global SWFs as biggest investor in 2025"},"content":{"rendered":"<section id=\"103759\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"103759\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/06\/aramco-is-introducing-98-octane-fuel-to-key-cities\/\">\r\n                            THIS MORNING: Aramco is introducing 98-octane fuel to key cities                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/06\/aramco-is-introducing-98-octane-fuel-to-key-cities\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Meanwhile, the government raised north of USD 11 bn in its first international bond issuance of the year, just days after the Finance Ministry released its borrowing plan for 2026. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">^^ We have the rundown on all of this and more in this morning\u2019s news well, below. <\/p>\n<p class=\"tag-border-left\">Happening today<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>Khaled Dhafer &amp; Brother\u2019s Logistics Services (KDL Logistics) <\/strong><strong>rings<\/strong><strong> the opening bell on <\/strong><strong>the Nomu parallel market today<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-detail-wcm\/?newsId=9220&amp;locale=en\" rel=\"noopener\">Tadawul disclosure<\/a>. The company\u2019s shares will be allowed to trade within a 30% price fluctuation cap and a static 10% band.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>REFRESHER-<\/strong> The firm is floating a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/28\/kdl-logistics-to-kick-off-nomu-ipo-amid-a-period-of-increased-investor-selectivity\/\" rel=\"noopener\">20% stake<\/a> at <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/11\/25\/kdl-seeks-sar-16-1-mn-in-nomu-ipo\/\" rel=\"noopener\">SAR 23 per share<\/a> in a secondary offering on Tadawul\u2019s parallel market. KDL\u2019s founding family is selling down its positions to a combined 80% stake, subject to a 12-month lockup period, and pocketing net proceeds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>WEATHER- The National Center f<\/strong><strong>or Meteorology has issued alerts for widespread rain<\/strong><strong> during the <\/strong><strong>January 9-17 school break<\/strong><strong>.<\/strong> Heavy thunderstorms and potential flooding are forecast for Makkah, Al-Baha, Asir, Jazan, Tabuk, and Madinah, while lighter showers fall in Riyadh and the East. The wet conditions are expected to persist through January, exceeding seasonal averages in northern and central regions, before normalizing later in 1Q. Temperatures are projected to run 1.5\u00b0C above average throughout the quarter.<\/p>\n<ul>\n<li>Riyadh: 19\u00b0C high \/ 6\u00b0C low.<\/li>\n<\/ul>\n<ul>\n<li>Jeddah: 32\u00b0C high \/ 24\u00b0C low.<\/li>\n<li>Makkah: 31\u00b0C high \/ 23\u00b0C low.<\/li>\n<li>Dammam: 19\u00b0C high \/ 8\u00b0C low.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\"> Watch this space<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>AUTOMOTIVE \u2014 <\/strong><strong>Saudi Aramco is adding a new piece to the Kingdom\u2019s luxury economy<\/strong><strong> as it<\/strong><strong> prepares to provide new 98-octane gasoline<\/strong> in key cities later this month, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2481332\" rel=\"noopener\">SPA<\/a> reports. The rollout will initially target what could be called the Kingdom\u2019s wealth corridor \u2014 Riyadh, Jeddah, and the Dammam metropolitan area \u2014 before expanding to other regions based on market demand. Pricing has not yet been disclosed and is expected to be announced at the time of launch.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Why it matters: <\/strong>The move slots neatly into the Kingdom\u2019s broader push to build a luxury economy, which has gained momentum in recent years. The Regional Headquarters (RHQ) program has drawn in wealthy expat executives, while luxury tourism developments along the Red Sea are attracting b\u2019naires. Together, they are fueling demand for premium and performance vehicles \u2014 a segment that requires higher-grade fuel to match its high-performance engines.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>DEBT \u2014<\/strong> <strong>SAL Sau<\/strong><strong>di Logistics is moving forward with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/11\/09\/regs-for-real-estate-ownership-by-non-saudis-are-coming-soon\/\" rel=\"noopener\">plans to issue<\/a><\/strong><strong> SAR-denominated <\/strong><strong>sukuk, with the firm tapping JP Morgan and SNB Capital<\/strong> as lead joint managers and bookrunners for the transaction, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=92463&amp;anCat=1&amp;cs=4263&amp;locale=en\" rel=\"noopener\">Tadawul disclosure<\/a>. The company is earmarking the proceeds for expansion plans. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>YEMEN<\/strong><strong> \u2014 A resolution to Yemen\u2019s separatists could be in the offing<\/strong> as Southern Transitional Council (STC) Chair Aidarus Al Zoubaidi agreed to visit Riyadh \u201csoon\u201d for talks on solutions to the southern cause, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/delegation-led-by-yemens-main-separatist-group-travel-saudi-arabia-sources-say-2026-01-05\/\" rel=\"noopener\">Reuters<\/a> reports, citing two unnamed sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Calls to reason:<\/strong> Presidential council head of the Aden-based central government Rashad Al Alimi had earlier urged Riyadh to host a conference bringing together all Yemeni factions \u2014 including the STC \u2014 to resolve the crisis in the south.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tensions appear to be easing after the Saudi-backed government regained control of the<\/strong><strong> country\u2019s largest provinces<\/strong>, Hadhramaut and Mahra, from STC forces over the past few days. The STC seized power across southern Yemen <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/28\/tensions-flare-on-our-southern-border\/\" rel=\"noopener\">last month<\/a>, prompting the Kingdom to respond with calls for restraint \u2014 and airstrikes \u2014 amid rising tensions along its southern borders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\">Data point<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"> <strong>57.4 \u2014 that\u2019s the seasonally adjusted purchasing managers\u2019 index figure for <\/strong><strong>Saudi Arabia in December<\/strong>, according to the <a target=\"_blank\" href=\"https:\/\/www.pmi.spglobal.com\/Public\/Home\/PressRelease\/043a3731036742d5aec5a83ea5df75f2\" rel=\"noopener\">Riyad Bank Saudi Arabia PMI (pdf)<\/a>. The figure maintains the country\u2019s non-oil private sector in expansion territory, albeit at a slower rate for the second consecutive month. Still, December\u2019s performance outperformed the index\u2019s long-run average of 56.9. <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/04\/non-oil-private-sector-expands-at-a-slower-rate-in-november\/\" rel=\"noopener\">November\u2019s reading<\/a> was 58.5. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The breakdown: <\/strong>Output and new orders both cooled in December, reaching their weakest rates of growth since August. Firms maintained strong hiring trends, similar to the previous month, and accelerated their purchasing activity to the fastest pace in three months. This led to an increase in input stocks as firms worked to manage mounting backlogs, which hit their highest level since July. Meanwhile, input cost inflation accelerated amid rising purchasing prices. On the other hand, wage pressures eased, marking their slowest pace in approximately a year and a half.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\">Sports<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>The Spanish<\/strong><strong> Super Cup is back in Jeddah this week<\/strong>, bringing FC Barcelona, Real Madrid, Atl\u00e9tico Madrid, and Athletic Bilbao to Alinma Stadium. The three-match tournament features semi-finals tomorrow and Thursday, and the final next Sunday, 11 January, with Barcelona arriving as defending champions after a 5-2 victory over Real Madrid last year. Gates open at 6pm, with kick-off at 10pm. <a target=\"_blank\" href=\"https:\/\/webook.com\/en\/spanish-super-cup-2026\" rel=\"noopener\">Ticket<\/a> prices begin at SAR 90.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel and Hassan Allam Properties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" rel=\"noopener\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" rel=\"noopener\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" rel=\"noopener\">logistics<\/a> industry, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" rel=\"noopener\">MENA  India<\/a> corridor?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The chatter about the kidnapping of Venezuelan President Nicol\u00e1s Maduro has shifted to the US\u2019 energy agenda and what it stands to gain from the move and from dictating policy<\/strong> in the country. US President Donald Trump clearly thinks there\u2019s plenty to gain \u2014 saying there\u2019s a \u201ctremendous amount of wealth\u201d up for grabs for American oil firms in Venezuela. He also said <a target=\"_blank\" href=\"https:\/\/www.nbcnews.com\/business\/energy\/trump-venezuela-oil-companies-reimburse-rcna252434\" rel=\"noopener\">in an interview with NBC<\/a> that the US could start offering subsidies to energy firms in a bid to encourage them to rebuild Venezuela\u2019s oil industry, which has seen production fall to less than 1 mn barrels a day, down from 3.7 mn in 1970 on the back of mismanagement, corruption and sanctions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Shares in the US\u2019 top refiners have also surged<\/strong> since the capture of Maduro on expectations that US Gulf Coast refiners could snap up hefty volumes of Venezuelan crude now that Trump is looking to ease sanctions and revive production. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">^^ The must-read on the topic: <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c077e768-05d3-4305-907c-7ca21a6e50e1\" rel=\"noopener\">What is Trump\u2019s plan for Venezuelan oil?<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>This all comes as Maduro made his first court appearance<\/strong>, pleading not guilty to charges of narco-terrorism, cocaine importation conspiracy and possession of machine guns and destructive devices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Meanwhile, Nvidia CEO Jensen Huang said the company\u2019s new generation of chips, Rubin, are now in full production.<\/strong> The chips can deliver up to five times the AI computing strength of its predecessor, Blackwell. Huang also touted other software the firm is working on, including networking switches that can link several machines as one, and self-driving car software. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/nvidia-ceo-huang-take-stage-ces-las-vegas-competition-mounts-2026-01-05\/\" rel=\"noopener\">Reuters<\/a>) <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103761\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15542.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103762\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"103762\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE BIG STORY TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/06\/pif-takes-the-sovereign-investor-crown\/\">\r\n                            PIF was the biggest sovereign investor in 2025                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/06\/pif-takes-the-sovereign-investor-crown\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Abu Dhabi\u2019s Mubadala came in second with a record USD 32.7\u202fbn across 40 transactions in 10 countries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Who were the other top regional spenders?<\/strong> The Abu Dhabi Investment Authority (Adia) ranked as the seventh top sovereign spender with USD 12.9\u202fbn spent throughout the year, while ADQ came in 10th with USD 10.9 bn. On the regional front, Qatar Investment Authority (QIA) ranked sixth (USD 16.6 bn), and Kuwait Investment Authority (KIA) came in 13th (USD 6.5 bn). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Saudi solidified its position as a top sovereign wealth player in 2025<\/strong>, with state-owned investors managing around USD 2.2 tn in assets, ranking sixth globally. PIF\u2019s assets amounted to USD 1.2 tn, and the National Development Fund\u2019s reached USD 115 bn. Across the region, SWFs collectively oversee USD 6 tn, with the UAE maintaining its regional dominance as the wealthiest hub, managing USD 2.9 tn (fourth globally), followed by Kuwait at USD 1.2 tn (14th globally).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\">PIF leads on private equity, while AI + private credit trail<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The Saudi fund was the largest contributor to private equity in 2025, deploying USD <\/strong><strong>33.1\u202fbn<\/strong> throughout the year. PIF invested some USD 8.3 bn in digitalization, with only USD 0.3 bn of that amount going towards pure AI investments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>How this compares to regional peers:<\/strong> Mubadala deployed USD 23.0 into the asset class, while Adia and ADQ each committed at least USD 5 bn throughout the year to private equity transactions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>UAE funds took the lead in private credit:<\/strong> The PIF allocated 1% of its portfolio to private credit (USD 11.5 bn), followed by the General Organization for Social Ins. with USD 3.7 bn (1% allocation). UAE sovereigns dominated the region in this category, with Adia ranking second globally at 2% of its portfolio (USD 23.7 bn) and Mubadala seventh at 5.6% (USD 20 bn).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Our take:<\/strong> GCC SWFs are stepping into private credit as banks and Western lenders pull back to reduce risk, manage balance sheets, and cope with higher funding costs. This allows them to fill financing gaps and secure higher yields, especially as competition thins. In private equity, the same retreat has created windows for GCC sovereigns to deploy large-scale capital at more attractive valuations, allowing them to back buyouts and growth investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\">Zooming out<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Global SWFs invested USD 180.3 bn across 324 transactions in 2025<\/strong>, marking a 35% y-o-y increase. The Gulf's biggest SWFs (PIF, Mubadala, Adia, ADQ, ICD, KIA, and QIA) accounted for 43% of the total \u2014 up 43% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\">What\u2019s next?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD 22.4 tn by 2030:<\/strong> Global SWF assets are projected to reach USD 22.4 tn by 2030, up from USD 15.2 tn today, driven by market performance, oil prices, and the emergence of new funds. Regional heavyweights are set to claim a larger share of this total, led by PIF, whose assets are set to hit USD 2 tn by the end of the decade. Adia is forecast to reach USD 1.67 tn, followed by ICD at USD 602 bn, and Mubadala at USD 500 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>As AI demand reshapes energy markets and rising debt burdens squeeze traditional <\/strong><strong>returns<\/strong>, SWFs will increasingly rely on \u201cpolicy due diligence\u201d and political buy-in to secure transactions, which will show up in new cross-border collaborations, Ziemba Insights founder Rachel Ziemba told the data platform. This is especially the case as they navigate a fragmented global trade landscape and parallel US-China tech supply chains in 2026. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/the-big-story-today\/\">THE BIG STORY TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103764 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"103764\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/06\/103764\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-103764\" class=\"content-area-description single-story post-103764 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400\"><a href=\"https:\/\/www.facebook.com\/HassanAllamProperties?_rdc=1&amp;_rdr#\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/432.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103765\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"103765\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/06\/fresh-paper-to-start-the-year\/\">\r\n                            Saudi raises USD 11.5 bn in first international bond issuance of 2026                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/06\/fresh-paper-to-start-the-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The debt sale attracted as much as USD 29 bn in bids. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The bonds were priced at spreads tightened from their initial guidance<\/strong>, with the 30-year tranche \u2014 which drew in the lion\u2019s share of demand \u2014 priced at 110 bps over US Treasuries. That\u2019s 30 bps tighter than initial guidance. The final pricing of the other tranches was not disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Why this matters:<\/strong> The issuance comes just a few short days after Finance Minister Mohammed Al Jadaan <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/04\/govt-locks-in-financing-to-cover-30-of-projected-2026-deficit\/\" rel=\"noopener\">approved the Kingdom\u2019s borrowing plan for the year<\/a>, which implies a targeted USD 14-17 bn of borrowing to cover its SAR 165 bn budget deficit. That range of borrowing would be below levels seen in past years; the lower end of the range would be the lowest bond volume since 2022, while hitting USD 17 bn in borrowing would still be below last year\u2019s volume. Debt remains an important financial lever for Saudi Arabia to ensure consistent cashflow for gigaprojects. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>An overshoot coming?<\/strong> Goldman Sachs Group forecasts that the Kingdom will issue USD 25 bn in international debt this year, Bloomberg says, suggesting that an overshoot of debt targets could be in the cards. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Background:<\/strong> The Kingdom also <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/04\/govt-locks-in-financing-to-cover-30-of-projected-2026-deficit\/\" rel=\"noopener\">tapped<\/a> bank financing in the first move under the government\u2019s \u201cdeficit by design\u201d phase earlier this week as the National Debt Management Center lined up a USD 13 bn (SAR 48.8 bn), seven-year syndicated loan to fund utility and infrastructure projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103767 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"103767\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/06\/103767\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-103767\" class=\"content-area-description single-story post-103767 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400\"><a href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1942.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103768\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"103768\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/06\/national-grid-to-build-power-infrastructure-at-soudah-peaks\/\">\r\n                            National Grid to build power infrastructure at Soudah Peaks                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/06\/national-grid-to-build-power-infrastructure-at-soudah-peaks\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Soudah Peaks destination \u2014 situated 3 km above sea level \u2014 is advancing with an infrastructure-first strategy, laying the groundwork needed to meet its target of adding USD 7.8 bn to GDP by 2033.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Part of a PIF pledge to Aseer: <\/strong>The government has <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/09\/25\/aseer-is-in-the-forefront-of-saudi-push-to-narrow-regional-economic-gap\/\" rel=\"noopener\">pledged<\/a> to invest SAR 25 bn in Aseer, with SAR 20 bn from PIF supporting major projects including Soudah Peaks. The initiative aims to develop the region as a heritage-rich, mountain tourism destination that is distinct from other futuristic megaprojects. The area, which as of August 2025 sees fewer than <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/06\/the-kingdom-bets-on-aseers-cool-peaks-to-lure-tourists\/\" rel=\"noopener\">100k international visitors<\/a>  annually, faces several challenges, such as limited accommodation, infrastructure gaps, and safety concerns near the Yemeni border.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-grid\/\">National Grid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103770\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"103770\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/06\/ai-may-be-engineering-its-own-bust\/\">\r\n                            AI investment drives stock and bond records while rising costs pose inflation risk                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/06\/ai-may-be-engineering-its-own-bust\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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As \u201cAI-flation\u201d threatens to keep the Federal Reserve cautious, markets are heading into a year where the price of building the future could test today\u2019s valuations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>By the numbers: <\/strong>The S&amp;P 500 climbed 16% in 2025, lifted by monetary easing and enthusiasm for AI. However, the rally was unusually narrow. Just seven major tech groups generated half of all market earnings, pulling European and Asian equities \u2014 and US Treasury bonds \u2014 to record highs alongside them, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-04\/is-the-ai-boom-a-bubble-waiting-to-pop-here-s-what-history-says\" rel=\"noopener\">Bloomberg<\/a> data shows.<\/p>\n<p class=\"tag-border-left\">The inflationary feedback loop<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>While investors expect falling interest rates, the AI build-out could stall the easing cycle<\/strong><strong> \u2014 or push rates higher.<\/strong> Hyperscalers including Microsoft, Meta, and Alphabet are locked in a USD multi-tn data center race. Capital spending is projected to hit USD 4 tn by 2030, with USD 440 bn next year alone, Deutsche Bank and Bloomberg estimate. This spending strains real-world resources \u2014 energy and advanced chips \u2014 creating bottlenecks and price pressures, analysts told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/ai-driven-inflation-is-2026s-most-overlooked-risk-investors-say-2026-01-05\/\" rel=\"noopener\">Reuters<\/a>, keeping US inflation above the Fed\u2019s 2% target through 2027, Morgan Stanley predicts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>A pickup in inflation and tighter money as a result could be the \u201cpin that pricks the<\/strong><strong> bubble,\u201d<\/strong> Royal London Asset Management Head of Multi Asset Trevor Greetham warns. Higher rates would hit speculative tech stocks hardest, raising funding costs while squeezing margins across the AI supply chain.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The strain is already visible in corporate earnings<\/strong>, where Oracle shares fell late last year after revealing soaring spending, Broadcom slid after warnings that high margins would be squeezed, and HP Inc. expects net income pressure in late 2026 as memory chip costs rise with data center demand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\">AI\u2019s bond market bonanza<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The AI boom is also reshaping credit markets.<\/strong> To fund massive data center projects, tech firms and utilities are issuing record columns of high-grade debt, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-03\/ai-debt-spree-is-fueling-a-credit-trading-frenzy-credit-weekly\" rel=\"noopener\">Bloomberg<\/a> reports. This wave pushed corporate bond trading to record levels in 2025, averaging USD 50 bn a day, up from USD 46 bn in 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>As new AI-linked bonds flood the market, investors are rotating aggressively<\/strong>, selling older debt to make room for fresh paper. This has fueled a growing secondary market for private credit, which Morgan Stanley\u2019s Rehan Latif called \u201cthe biggest single opportunity coming into 2026.\u201d However, rising use of credit default swaps suggests that investors are quietly hedging against an AI unwind.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\">Is it a bubble?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>With valuations stretched, comparisons to past bubbles are growing louder.<\/strong> The top 10 stocks now account for 40% of the S&amp;P 500 \u2014 a level unseen since the 1960s \u2014 while the Shiller P\/E ratio, a long-term, inflation-adjusted valuation gauge, trails only the highs of the early 2000s. However, today\u2019s tech giants show stronger balance sheets and real bottom line growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The boom has a circular quality that unsettles skeptics. <\/strong>OpenAI\u2019s USD 1 tn infrastructure pledge largely flows back to the same listed tech giants funding it, creating a closed revenue loop that magnifies both gains and risks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Still, Wall Street expects the stock market can secure a fourth consecutive year of gains <\/strong><strong>in 2026<\/strong>, following double-digit increases from 2023 through 2025. However, the mood is one of cautious optimism, according to the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/stocks\/wall-street-expects-the-market-to-keep-rallying-in-2026-despite-lofty-valuations-06ce7951?mod=finance_lead_pos3\" rel=\"noopener\">Wall Street Journal<\/a>. While analysts generally predict upward movement, they acknowledge the path forward will be tighter and more difficult than the torrid rallies of previous years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Yesterday\u2019s global stock rally pushed Asia-Pacific stocks to a broadly positive start to trading today<\/strong>, with virtually all markets \u2014 except South Korea\u2019s Kospi index \u2014 in the green. Wall Street futures, meanwhile, are trading flat after the Dow Jones closed yesterday at an all-time high, driven by energy, financial, and defense stocks.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,325<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,371<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: -1.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">23,227<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: -0.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.25% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">40,677<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: -2.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,944<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: -0.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,130<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +1.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,902<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +0.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,005<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +0.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,924<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3% (YTD: +2.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 61.56<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.47<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.7%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4,451<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 93,883<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.0% (YTD: +6.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Sukuk\/bond market index<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">921.07<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P MENA Bond &amp; Sukuk<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">151.69<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: -0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.7pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">14.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.7% (YTD: -0.3%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The TASI <\/strong>fell 0.4% <strong>yesterday<\/strong> on turnover of SAR 4.0 bn. The index is down 1.6% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>In the green:<\/strong> SIDC (+6.3%), Alyamamah Steel (+6.1%) and Cherry (+5.3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>In the red: <\/strong>Bahri (-5.9%), Burgerizzr (-5.8%) and Acwa Power (-4.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The NomuC<\/strong> fell 0.6% <strong>yesterday<\/strong> on turnover of SAR 24.9 mn. The index is down 0.3% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>In the green:<\/strong> Riyadh Steel (+9.1%), Pro Medex (+5.1%) and Atlas Elevators (+4.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>In the red:<\/strong> Mayar (-12.9%), Hamad Bin Saedan Real Estate (-9.5%) and United Mining (-9.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\">Corporate actions<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.salama.com.sa\/\" rel=\"noopener\">Salama Cooperative Ins.<\/a><\/strong><strong>\u2019s shareholders greenlit a 62.98% capital increase to SAR <\/strong><strong>488.9<\/strong><strong> mn<\/strong>, paving the way for <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/18\/salama-enaya-seal-sar-234-3-mn-merger-agreement-amid-saudi-ins-sector-shakeout\/\" rel=\"noopener\">the Enaya merger<\/a>, the firm said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=92453&amp;anCat=1&amp;cs=8050&amp;locale=en\" rel=\"noopener\">disclosure to Tadawul<\/a>. The capital hike will be executed through the issuance of 18.9 mn ordinary shares, raising Salama\u2019s share count to 48.9 mn, with Enaya shareholders set to receive 0.82 Salama shares for each Enaya share held.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Upon the transaction\u2019s completion, Enaya\u2019s assets, rights, and obligations will transfer to<\/strong><strong> Salama<\/strong>, resulting in an ownership structure of 61.4% for Salama\u2019s existing shareholders and 38.6% for Enaya's. The merger had initially been <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/08\/qiddiya-city-launches-film-production-hub-playmaker-studios\/\" rel=\"noopener\">scheduled<\/a> to take full effect tomorrow, with fractional share distributions completed by early February. However, the timeline was pushed back after Enaya <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=92455&amp;anCat=1&amp;cs=8311&amp;locale=en\" rel=\"noopener\">failed<\/a> to secure the required quorum for its general assembly meeting.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/chemanol\/\" rel=\"noopener\">Methanol Ch<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/chemanol\/\" rel=\"noopener\">emicals Company<\/a><\/strong><strong> (Chemanol) formally moved forward with its capital<\/strong><strong> restructure plan after posting SAR 577.9 mn in accumulated losses<\/strong>, submitting a request to the Capital Market Authority to cancel 52.5 mn shares, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=92460&amp;anCat=1&amp;cs=2001&amp;locale=en\" rel=\"noopener\">Tadawul disclosure<\/a>. The losses now amount to 85.7% of Chemanol\u2019s capital, forcing the company to expand the capital reduction from the <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=90612&amp;anCat=1&amp;cs=2001&amp;locale=en\" rel=\"noopener\">SAR 535.5 mn<\/a> it had initially proposed. Chemanol will use SAR 53.4 mn from its statutory reserve to cover the remaining losses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ICYMI-<\/strong> Chemanol revived a two-year-old plan last month to increase its capital by 51.9% to SAR 350 mn via a rights issuance. This came after almost two years of challenges during which Chemanol\u2019s capital hike ambition was nearly halved (from SAR 674.5 mn). Chemanol was forced to write off SAR 127 mn in goodwill tied to its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6779337e-f69b-4b9e-9834-3ce4e456c42e\/almarai-inches-closer-to-acquisition-of-etmam-logistics.-plus:-arab-energy-fund-will-invest-in-dussur-projects\" rel=\"noopener\">2024 acquisition<\/a> of Addar Chemicals and Global Company for Chemical Industries and a record SAR 374 mn in related asset impairment \u2014 prompting the board to propose a SAR 535.5 mn capital reduction in October.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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<\/div>\n<\/div>\n<\/section>\n<section id=\"103772\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/06\/103772\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-103772\" class=\"content-area-description single-story post-103772 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">JANUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400\">10-18 January (Saturday-Sunday): Public school mid-year break. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>13-15 January (Tuesday-Thursday): <\/span><span><a href=\"https:\/\/www.futuremineralsforum.com\/\">Future Minerals Forum<\/a><\/span><span style=\"font-weight:400\">, King Abdul Aziz International Conference Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400\">15 January (Thursday): Title deed registration deadline for 31.7k properties in 14 neighborhoods in the Eastern Province. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400\">15 January (Thursday): Title deed registration deadline for about 157.3k properties in 78 neighborhoods across the Eastern Province. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400\">15 January (Thursday): Title deed registration deadline for about 41.7k properties across 115 neighborhoods in Riyadh, Qassim, and the Eastern Province. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>18-21 January (Sunday-Wednesday): <\/span><span><a href=\"https:\/\/www.saudihospitalbuild.com\/\">Saudi Hospital Design and Build Expo<\/a><\/span><span style=\"font-weight:400\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400\">26-27 January (Monday-Tuesday): SuperReturn Saudi Arabia, Hotel Fairmont, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>26-27 (Monday-Tuesday): <\/span><span><a href=\"https:\/\/gprcsummit.com\/riyadh\/\">GPRC Summit<\/a><\/span><span style=\"font-weight:400\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>26-28 (Monday-Wednesday): <\/span><span><a href=\"https:\/\/www.saudifranchiseexpo.com\/register.php?gad_source=1&amp;gad_campaignid=22793915983&amp;gbraid=0AAAAA9h6tmyEONAToP6OR1QzERDhh-EXL&amp;gclid=Cj0KCQjw-NfDBhDyARIsAD-ILeBBxf3POYPZ2rW6JYNH1FJChq0nt3g8cyk-v0HezqrKnPiQBoY6plcaAkdFEALw_wcB\">Saudi Franchise Expo (SFE)<\/a><\/span><span style=\"font-weight:400\">, Riyadh Exhibition and Convention Centre, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>26-28 (Monday-Wednesday): <\/span><span><a href=\"https:\/\/www.therff.com\/new\/index_en.php\">Real Estate Future Forum<\/a><\/span><span style=\"font-weight:400\">, Four Seasons Hotel, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>26-28 (Monday-Wednesday): <\/span><span><a href=\"https:\/\/www.ifat-saudiarabia.com\/\">IFAT Saudi Arabia<\/a><\/span><span style=\"font-weight:400\">, Riyadh Front Exhibition &amp; Conference Center, Riyadh,<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>27-28 (Tuesday-Wednesday): <\/span><span><a href=\"https:\/\/www.skymovemena.com\/\">SkyMove Air Cargo MENA<\/a><\/span><span style=\"font-weight:400\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>28 (Wednesday): <\/span><span><a href=\"https:\/\/datacenternation.com\/dcn-riyadh-2026\/\">Data Center Nation Riyadh<\/a><\/span><span style=\"font-weight:400\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>28-30 (Wednesday-Friday): <\/span><span><a href=\"https:\/\/www.jttxsa.com\/\">Jeddah International Travel and Tourism Exhibition (JTTX)<\/a><\/span><span style=\"font-weight:400\">, Jeddah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>2-4 (Monday-Wednesday): <\/span><span><a href=\"https:\/\/saudimf.sa\/en\">Saudi Media Forum<\/a><\/span><span style=\"font-weight:400\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>2-4 (Monday-Wednesday): <\/span><span><a href=\"https:\/\/ksawomenleaders.com\/\">Women Leaders Summit and Awards KSA<\/a><\/span><span style=\"font-weight:400\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400\">2-13 (Monday-Friday): 2026 Asian Road Cycling Championship and Paralympic Cycling, Qassim. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>3-4 (Tuesday-Wednesday): <\/span><span><a href=\"https:\/\/rlcglobalforum.com\/\">RLC Global Forum Annual Meeting<\/a><\/span><span style=\"font-weight:400\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>4 (Wednesday): Michelin Guide\u2019s <\/span><span><a href=\"https:\/\/guide.michelin.com\/en\/event\/michelin-guide-restaurant-celebration-saudi-arabia-2026\">Restaurant Celebration<\/a><\/span><span style=\"font-weight:400\">, Four Seasons Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>5-7 February (Thursday-Saturday): <\/span><span><a href=\"https:\/\/events.livgolf.com\/riyadh\/?_gl=1*19qe488*_gcl_au*MTU4NzcyNzgzNi4xNzU0NDg4ODYw*_ga*MTc2NzE5MTMxNi4xNzU0NDg4ODYw*_ga_CG4MZ7LYED*czE3NTQ0ODg4NTMkbzEkZzEkdDE3NTQ0ODkwMTckajU3JGwwJGgw&amp;cp_landing_source=www.livgolf&amp;utm_source=google&amp;utm_medium=organic#tickets\">LIV Golf 2026 season opener<\/a><\/span><span style=\"font-weight:400\">, Riyadh Golf Club, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>8-12 February (Sunday-Thursday): <\/span><span><a href=\"https:\/\/www.worlddefenseshow.com\/en\">World Defense Show<\/a><\/span><span style=\"font-weight:400\">, Riyadh International Convention and Exhibition Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>9-10 February (Monday-Tuesday): <\/span><span><a href=\"https:\/\/www.globalgamesshow.com\/riyadh\/\">Global Games Show Riyadh 2026<\/a><\/span><span style=\"font-weight:400\">, Malf Hall, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>9-14 February (Monday-Saturday): <\/span><span><a href=\"https:\/\/www.arcriyadh2026.com\/\">Asian Racing Conference<\/a><\/span><span style=\"font-weight:400\">, Crowne Plaza Riyadh RDC Hotel &amp; Convention Centre, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>11 (Wednesday) <\/span><span><a href=\"https:\/\/digitransformationsummit.com\/ksa\/register-now.html\">Digital Transformation Summit Saudi Arabia (DTS)<\/a><\/span><span style=\"font-weight:400\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>11-14 (Wednesday-Saturday): <\/span><span><a href=\"https:\/\/jeddaderm.zohobackstage.com\/JeddaDerm2025\">JeddaDerm<\/a><\/span><span style=\"font-weight:400\">, Jeddah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>13-14 February (Friday-Saturday): <\/span><span><a href=\"https:\/\/www.timeoutjeddah.com\/news\/formula-e-2026-jeddah-circuit\">Jeddah E-Prix 2026<\/a><\/span><span style=\"font-weight:400\">, Jeddah.<br \/><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>15-17 February (Sunday-Tuesday): <\/span><span><a href=\"https:\/\/www.wamsaudi.com\/\">The World Advanced Manufacturing &amp; Logistics Saudi Expo<\/a><\/span><span style=\"font-weight:400\">, Riyadh Front &amp; Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400\">16 February (Monday): King Salman Stadium design-and-build contract prequalification submission deadline.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400\">16 February (Monday): First day of Ramadan (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400\">22 February (Sunday): Founding Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400\">26 February (Thursday): Title deed registration deadline for 142.8k properties across 104 neighborhoods in Hail.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">MARCH<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>12 March (Thursday): Deadline for <\/span><span><a href=\"https:\/\/rega.gov.sa\/media-center\/%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/%D8%A8%D8%AF%D8%A1-%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D8%B3%D8%AC%D9%84-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D9%8A-%D9%81%D9%8A-499-%D8%AD%D9%8A-%D8%A7-%D8%A8%D9%85%D9%86%D8%A7%D8%B7%D9%82-%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6-%D9%88%D8%A7%D9%84%D9%82%D8%B5%D9%8A%D9%85-%D9%88%D9%85%D9%83%D8%A9-%D9%88%D8%AD%D8%A7%D8%A6%D9%84\/\">real estate registration<\/a><\/span><span style=\"font-weight:400\"> for 253.2k properties in 499 neighborhoods across Riyadh, Qassim, Makkah, and Hail.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400\">18-23 March (Tuesday-Monday): Eid Al-Fitr holiday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>21 March (Saturday): Fanatics Flag Football Classic<\/span><span style=\"font-weight:700\">, <\/span><span style=\"font-weight:400\">Kingdom Arena, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>31 March (Tuesday): <\/span><span><a href=\"https:\/\/zatca.gov.sa\/ar\/MediaCenter\/News\/Pages\/news_1396.aspx\">Zatca<\/a><\/span><span>\u2019s 23rd E-invoicing integration wave deadline.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400\">6 April (Monday): Procurement and Supply Chain Futures Forum, Al Faisaliah Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>6-7 April (Monday-Tuesday): <\/span><span><a href=\"https:\/\/www.rscforum.com\/\">Real Estate Supply Chain Forum<\/a><\/span><span style=\"font-weight:400\">, Al Faisaliah Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>12-15 April (Sunday-Wednesday): <\/span><span><a href=\"https:\/\/saudi-pp.com\/\">Saudi Print &amp; Pack<\/a><\/span><span style=\"font-weight:400\">, Riyadh International Convention &amp; Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>12-15 April (Sunday-Wednesday): <\/span><span><a href=\"https:\/\/riyadhiiw.com\/\">Riyadh International Industry Week<\/a><\/span><span style=\"font-weight:400\">, Riyadh International Convention &amp; Exhibition Center.<br \/><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>12-15 April (Sunday-Wednesday): <\/span><span><a href=\"https:\/\/saudipp.com\/\">Saudi Plastics &amp; Petrochem<\/a><\/span><span style=\"font-weight:400\">, Riyadh International Convention &amp; Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>12-15 April (Sunday-Wednesday): <\/span><span><a href=\"https:\/\/saudi-smartlogistics.com\/\">Saudi Smart Logistics<\/a><\/span><span style=\"font-weight:400\">, Riyadh International Convention &amp; Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>13-16 April (Monday-Thursday): <\/span><span><a href=\"https:\/\/onegiantleap.com\/\">Leap Tech Conference<\/a><\/span><span style=\"font-weight:400\">, Riyadh Exhibition &amp; Convention Center - Malham.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>20-22 April (Monday-Wednesday): The <\/span><span><a href=\"https:\/\/www.futurehospitality.com\/sa\">Future Hospitality Summit<\/a><\/span><span style=\"font-weight:400\">, Mandarin Oriental Al Faisaliah Al Faisaliah Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>20-22 April (Monday-Wednesday): <\/span><span><a href=\"https:\/\/www.saudisignageexpo.com\/saudi-paper-packaging-expo-2026\/\">Saudi Paper and Packaging Expo<\/a><\/span><span style=\"font-weight:400\">, Riyadh International Convention &amp; Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>21 April (Tuesday): <\/span><span><a href=\"https:\/\/www.legal500.com\/events\/gc-summit-saudi-arabia-2026\/\">GC Summit Saudi Arabia 2026<\/a><\/span><span style=\"font-weight:400\">, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>27-29 April (Monday-Wednesday): <\/span><span><a href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/rx-announces-the-launch-of-aluminium-arabia-in-riyadh-for-2026-y7qwfljt\">Aluminum Arabia<\/a><\/span><span>, The Arena, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>3-5 May (Sunday-Tuesday): <\/span><span><a href=\"https:\/\/saudisf.com\/en\/\">Sports Investment Forum<\/a><\/span><span style=\"font-weight:400\"> (SIF), Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>3-9 May (Sunday-Sunday): The <\/span><span><a href=\"https:\/\/globalsustainabilityexpo.com\/\">Global Sustainability Expo<\/a><\/span><span style=\"font-weight:400\">, The Arena Riyadh Venue.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400\">24-28 (Sunday-Thursday): Eid al-Adha holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>21-24 June (Sunday-Wednesday): <\/span><span><a href=\"https:\/\/www.saudifoodexpo.com\/\">Saudi Food Exhibition and Conference<\/a><\/span><span style=\"font-weight:400\">, Riyadh Front Expo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>15-17 September (Tuesday-Thursday) The <\/span><span><a href=\"https:\/\/globalaisummit.org\/en\/Pages\/About.aspx\">Global AI Summit<\/a><\/span><span style=\"font-weight:400\">, King Abdulaziz International Convention Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400\">23 September (Wednesday): Saudi National Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>26-29 October (Monday-Thursday): <\/span><span><a href=\"https:\/\/www.worldenergy.org\/experiences-events\/world-energy-congress\">World Energy Congress<\/a><\/span><span style=\"font-weight:400\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">Signposted to happen sometime in 2026:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400\">2H: Sabic\u2019s USD 6.4 bn Fujian project in China to start production in 2026.<\/span><\/li>\n<li><span style=\"font-weight:400\">November: UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.<\/span><\/li>\n<li><span style=\"font-weight:400\">November: The Esports Nations Cup, Riyadh.  <\/span><\/li>\n<li><span>The <\/span><span><a href=\"https:\/\/intervision.world\/en\/\">Intervision<\/a><\/span><span style=\"font-weight:400\"> international music competition will take place in Saudi Arabia.<\/span><\/li>\n<li><span>6 July-23 August (Monday-Sunday): <\/span><span><a href=\"https:\/\/www.linkedin.com\/posts\/mike-mccabe-600532_esportsworldcup-ewc2026-esports-activity-7383046360637456384-FXWl?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAADcc9s0BqbX_KIfcdiR9Co3ThUUfykvz4-o\">Esports World Cup<\/a><\/span><span style=\"font-weight:400\">, Riyadh.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">Signposted to happen sometime in 2027:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The World Water Forum <\/span><span style=\"font-weight:400\">takes place in Riyadh.<\/span><\/li>\n<li><span style=\"font-weight:700\">The Ocean Race<\/span><span style=\"font-weight:400\"> finishes in Amaala on the Red Sea.<\/span><\/li>\n<li><span style=\"font-weight:700\">Riyadh-Kudmi transmission line<\/span><span style=\"font-weight:400\"> to be completed.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">Signposted to happen sometime in 2Q 2027:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The Hail Region Water Networks Project<\/span><span style=\"font-weight:400\"> is expected to be completed.<\/span><\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>PLUS- Fresh paper with first int\u2019l debt issuance<\/p>\n","protected":false},"featured_media":103758,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-103757","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ef940c82-d5e2-4f66-81b4-067259486a86","teaser":"PLUS- Fresh paper with first int\u2019l debt issuance","photo_url":"https:\/\/ent.news\/2024\/1\/1301.jpg","box_description":"","box_image":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PIF leads global SWFs as biggest investor in 2025 - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/pif-leads-global-swfs-as-biggest-investor-in-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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