{"id":86733,"date":"2024-06-02T00:00:00","date_gmt":"2024-06-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=86733"},"modified":"2025-12-14T18:15:27","modified_gmt":"2025-12-14T18:15:27","slug":"aramco-kicks-off-blockbuster-sar-43-bn-share-sale-today","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/aramco-kicks-off-blockbuster-sar-43-bn-share-sale-today\/","title":{"rendered":"Aramco kicks off blockbuster SAR 43 bn share sale today"},"content":{"rendered":"<section id=\"86735\" 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=\"86735\">\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\/2024\/06\/02\/key-opec-delegates-land-in-riyadh-as-meeting-for-policy-venue-changes-a-second-time\/\">\r\n                            THIS MORNING: Key Opec+ delegates land in Riyadh as meeting for policy venue changes a second time                        <\/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\/2024\/06\/02\/key-opec-delegates-land-in-riyadh-as-meeting-for-policy-venue-changes-a-second-time\/\" 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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If so, the best thing you can do to help us is to hit \u201cforward\u201d on this email and send it to a friend with a suggestion that they subscribe, too, if they find it valuable. <\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- It\u2019s Opec+ meeting day \u2014 and and some of the delegates are (unexpectedly) in <\/strong><strong>Riyadh to decide whether to extend production cuts into the second half of the year<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/some-opec-ministers-heading-riyadh-oil-output-meeting-sources-say-2024-06-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-31\/opec-changes-meeting-venue-again-as-ministers-head-to-riyadh\" style=\"\" rel=\"noopener\">Bloomberg<\/a> report. Delegates from heavyweight players including the UAE, Kuwait, Kazakhstan, and Russia will all be in the capital for the discussion, which had been scheduled to take place first in Vienna and then online. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What <\/strong><strong>to expec<\/strong><strong>t: Some or all of the cuts will be extended<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/saudi-arabia-invites-opec-ministers-riyadh-june-2-meeting-sources-say-2024-05-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/05\/31\/business\/opec-meeting-oil-prices.html?searchResultPosition=4\" style=\"\" rel=\"noopener\">New York Times<\/a>, say, though the latter knows that Oil Minister Prince Abdulaziz bin Salman \u201crelishes surprises,\u201d so there could yet be something to write home about.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- The two-day <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.gpmf.sa\/\" style=\"\" rel=\"noopener\">Global Project Management Forum<\/a><\/strong><strong> 2024 kicks off today at the Fairmont <\/strong><strong>Riyadh.<\/strong> Today\u2019s lineup includes discussions on women in project management, green project management, and the management of gigaprojects and AI, among others. Tomorrow: project performance, emotionally intelligent leaders, and data-driven decision making, to name a few. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Windy weather is in the cards for <strong>Riyadh<\/strong> with a daytime high of 43\u00b0C and an overnight low of 28\u00b0C, while <strong>Makkah<\/strong> is set for sandstorms with a daytime high of 45\u00b0C with the low at 30\u00b0C. <strong>Jeddah<\/strong> will also see winds and a high of 38\u00b0C.<\/p>\n<p class=\"tag-border-left\">IPO WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong>The retail tranche of Riyadh-based labor agency Saudi Manpower Solutions (Smasco)\u2019s <\/strong><strong>IPO was 13x covered<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/Resources\/fsPdf\/16996_350_2024-05-30_08-12-07_en.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The final allocation of shares wrapped up last on Thursday with a minimum of 10 pieces per retail investor. Rump shares will be distributed on a pro rata basis based on demand size. The institutional offering was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4b23149a-f457-41e9-802e-98505a084b6c\" style=\"\" rel=\"noopener\">128x oversubscribed<\/a>, signaling <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8a0c26ac-91ab-4953-9ea7-fb4b2e3dd793\" style=\"\" rel=\"noopener\">strong investor appetite<\/a> for Smasco\u2019s IPO. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The transaction: <\/strong>Smasco is taking a 30% stake to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/982a3533-758f-439c-a51b-01e7b8886594\" style=\"\" rel=\"noopener\">main<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/982a3533-758f-439c-a51b-01e7b8886594\" style=\"\" rel=\"noopener\">market Tadawul<\/a> in a secondary share sale. It is yet to announce when trading will begin on its shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re now waiting for next steps on three other high-profile IPOs: Fakeeh Care, Miahona, <\/strong><strong>and Rasan <\/strong>have all closed their bookbuilding processes, with Rasan having closed on Thursday the two-day subscription window. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>We don\u2019texpect any of the four to talk next steps on their transactions until bookbuilding on Aramco\u2019s massive secondary sale wraps at the end of this week. <\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Alkhorayef meets industry leaders in the Netherlands<\/strong>: Minister of Industry and Mineral Resources Bandar Alkhorayef met with executives from Philips Healthcare to discuss localization of the the medical devices industry, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2113260\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reports. The minister also met with executives from dairy products giant FrieslandCampina, where they discussed establishing a research and development center in the Kingdom, as well as with execs from plant-based food player Upfield.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER: <\/strong>Alkhorayef met <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/619b966b-b99f-4785-8f85-3bcd1e92f4d5\/industry-minister-al-khorayef-lands-in-the-netherlands-for-investment-focused-talks\" style=\"\" rel=\"noopener\">last week<\/a> with Dutch Economic Affairs and Climate Policy Minister Micky Adriaansens and Foreign Trade and Development Cooperation Minister Liesje Schreinemacher.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The offering period for Yaqeen Capital\u2019s passively-managed, high-risk Yaqeen S&amp;P <\/strong><strong>ESG <\/strong><strong>MENA ETF Fund has been extended to Thursday, 8 August<\/strong>, according to a Tadawul <a target=\"_blank\" href=\"https:\/\/x.com\/tadawul\/status\/1796160326838243708\" style=\"\" rel=\"noopener\">post on X<\/a>. The open-ended fund offers 1 mn units at SAR 10 per unit, with a minimum subscription of 25k units per investor, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/18.pdf\" style=\"\" rel=\"noopener\">filing to Tadawul (pdf)<\/a>. Yaqeen Capital is the fund manager and the receiving agent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Escalators and elevators company Mayar Holding said it is gearing up for the <\/strong><strong>issuance of SAR-denominated sukuk worth SAR 500 mn<\/strong> to fund working capital and planned expansions, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNc4IwEP0tPXjULFKR9pbWKer4hWhVLk6IKzIDhAlBan99QZxxtNqxmRyyL--9fbvEJUvixmwf-EwFImZhUa9cY92iBjS7JoyhO3sHAxzLmM9MrdM0yOKSYA4tA-wRtcfNdgusTyDuv_TgTFpgf0yG-gCmYIHxmB7uHPpAf_eSMqYv7SJB_83qDahuGu1rwo0Rr5r8nuFI-CNkn7h-KLxq4TT2dNMnrsQtSpSNTBbwTqkkfa1BDfI8b_hC-CE2uIhqcEuyE6kiy0smcTA-rqt9dx89jSwkpiKTHMnUR0XjWGQxxwhjNQhS1WGKEZszvsMB7jGcMB-JU87HNvsgFTItWWRVIilyJWQn6W1O9SHyRFi9Eyk2GVezQ4IVoERhfXonhakTfBeVBpURk3x35pb_oyzyUHY8snouoa0U0dmAlal5mbkSaeu6dmyCX8o5mlW8TaGYoAxEmTCJ5vMlBL266x10PaKRqV_enD79AHgu0oI!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC85NTY4L2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNDc0\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. It tapped Afaq Financial as its financial advisor for 24-month murabaha sukuk program. The offering still needs Capital Market Authority approval.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- PIF-owned commercial chopper operator The Helicopter Company plans to expand its <\/strong><strong>fleet to<\/strong><strong> 65 helicopters by the end of 2024<\/strong> from a current 49, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/05\/30\/article_2730676.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> reported, citing the company\u2019s commercial director, Musab Binafi. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.norahmovie.com\/\" style=\"\" rel=\"noopener\">Norah<\/a><\/strong><strong> \u2014 Saudi\u2019s first film to screen at Cannes \u2014 will hit theaters at home and abroad <\/strong><strong>starting Thursday, 20 June<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2109515\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported. It tells the story of an illiterate young orphan Norah, crossing paths with an artist called Nader, who moved to the village to be a school teacher. The encounter helps Norah unleash a passion for art and a better future<\/p>\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">[wwtt3= <strong>#1- <\/strong><strong>Consumer spending grew 1% y-o-y in April to SAR 113.2 bn<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/25.pdf\" style=\"\" rel=\"noopener\">a monthly<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/25.pdf\" style=\"\" rel=\"noopener\">report by the Saudi Central Bank (Sama)<\/a>. The aggregate number accounts for the total point-of-sale transactions, cash withdrawals, and e-commerce transactions via Mada cards that have occurred across the Kingdom within the month. Point of sale transactions grew 3% y-o-y to SAR 53 bn in April, while cash withdrawals dipped 4.1% y-o-y to SAR 45.4 bn. E-commerce sales jumped 18% y-o-y in to SAR 14.8 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The number of investment licenses issued by the Investment Ministry nearly doubled <\/strong><strong>y-o-y to 3.2k licenses in 1Q 2024<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1731600\" style=\"\" rel=\"noopener\">Argaam<\/a> reported. The construction sector accounted for the lion\u2019s share of new licenses during at 864, followed by the manufacturing with 620.<\/p>\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Hilal completed a domestic double after securing the Saudi Cup<\/strong>, beating Al Nassr on penalties after the match ended in a 1-1 draw. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The Saudi Pro League has its eyes on Liverpool\u2019s Luis Diaz and Joe Gomez <\/strong>as part of its \u201cquest to sign exceptional players in their prime,\u201d the <a target=\"_blank\" href=\"https:\/\/www.dailymail.co.uk\/sport\/football\/article-13477243\/Liverpool-duo-Luis-Diaz-Joe-Gomez-eyed-Saudi-Pro-League-summer-attract-younger-players.html\" style=\"\" rel=\"noopener\">Daily Mail<\/a> reports.<\/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;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to subscribe? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday before 7am Riyadh time \u2014 without charge, thanks to our friends at Cenomi.<br \/><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN INDIA- Another term for Modi? <\/strong>The ruling Bharatiya Janata Party (BJP), led by Prime Minister Narendra Modi, will likely lead the world\u2019s fastest-growing economy for another five years, according to exit polls. Pundits see the BJP winning up to 401 seats in India\u2019s 543-seat lower house \u2014 aka Lok Sabha. Election results will be announced on Tuesday. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/41f48391-ce38-49ed-bd89-c5744f9985c3\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cgllg541xmxo\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/06\/01\/india-election-modis-bjp-alliance-set-to-win-parliamentary-majority.html\" style=\"\" rel=\"noopener\">CNBC<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dive deeper: <\/strong>Bloomberg senior editor Menaka Doshi has deep dive on <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2024-06-01\/india-election-exit-polls-show-major-win-for-modi-bjp\" style=\"\" rel=\"noopener\">what Modi\u2019s exit poll<\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2024-06-01\/india-election-exit-polls-show-major-win-for-modi-bjp\" style=\"\" rel=\"noopener\">victory tells us about his dominance across India<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TO THE SOUTH: There\u2019s nothing but uncertainty in South Africa <\/strong>after the ruling African National Congress lost its 30-year parliamentary majority, putting the country on a \u201cnew political path for the first time since the end of the apartheid system of white minority rule 30 years ago,\u201d the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/south-africa-election-vote-anc-d9da7582ca98a4e00fec2da6a5fe1e91\" style=\"\" rel=\"noopener\">AP<\/a> writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why does this matter? <\/strong>This change in parliamentary leadership puts the presidency of Cyril Ramaphosa in question. It now needs to form a coalition with partners it has spent months badmouthing, and at least one of them wants Ramaphosa out before it will consider talks. (<a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cyeek2xlgzzo\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/51ff4e3c-7ff9-48b8-b2ee-8252533cf0bc\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/south-africas-ramaphosa-badly-weakened-by-anc-election-slump-2024-05-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Business will be watching closely: <\/strong>The ANC\u2019s potential coalition partners include a right-leaning group popular with Afrikaaners that wants to end black-ownership and -employee quotas \u2014 and a left-leaning party that wants to nationalize key industries. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- China has become the first nation to land on the far side of the moon: <\/strong>A Chinese spacecraft touched down on the far side of the moon a few hours ago, helping China gain points in the \u201c <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/space\/china-lands-uncrewed-spacecraft-far-side-moon-2024-06-01\/\" style=\"\" rel=\"noopener\">global rush to the moon<\/a>.\u201d The far side of the moon has remained unexplored by humans until now, seeing as it is more challenging when it comes to communications because it never faces Earth. With its robotic lunar exploration mission Chang\u2019e-6, the nation will try to collect lunar material and bring it back to earth \u2014 another first for humankind.  <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND ON THE CLIMATE FRONT- <\/strong>Up to <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/panama-island-guna-climate-change-f368711649ff6986ea25a79534405a84\" style=\"\" rel=\"noopener\">300 families are preparing<\/a> to permanently leave behind their homes on a small Panamanian island due to rising sea levels. They are expected to be the first of 63 communities living on Panama\u2019s Caribbean and Pacific coasts to evacuate their homes due to rising sea levels. <\/p>\n<p class=\"tag-border-left\">WAR WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fresh hopes for a ceasefire agreement? <\/strong>Israel has proposed a three-part plan that would end with a permanent ceasefire in Gaza and the release of all hostages, US President Joe Biden <a target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2024\/05\/31\/remarks-by-president-biden-on-the-middle-east-2\/\" style=\"\" rel=\"noopener\">said on Friday<\/a>. <strong>Hamas reportedly \u201c<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/hamas-says-it-positively-views-gaza-ceasefire-proposal-set-out-by-biden-2024-05-31\/\" style=\"\" rel=\"noopener\">had a positive view<\/a><\/strong><strong>\u201d of the plan.<\/strong> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: The first phase will include a full six-week ceasefire<\/strong>, the withdrawal of Israeli forces from all populated areas of Gaza, the release of some Israeli hostages in exchange of hundreds of Palestinians, and the entrance of 600 trucks of humanitarian aid into Gaza every day. During the first six weeks, Hamas and Israel would negotiate \u201cthe necessary arrangements to get to phase two.\u201d A final phase would see the start of reconstruction in Gaza.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Netanyahu is dead-set on destroying Hamas first: <\/strong>Israeli Prime Minister Benjamin Netanyahu said that the Israeli side will not agree to a permanent ceasefire before the destruction of Hamas' military and governing capabilities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A joint call from the three mediators: <\/strong>Egypt, the US, and Qatar are \u201c <a target=\"_blank\" href=\"https:\/\/www.state.gov\/joint-statement-of-the-united-states-egypt-and-qatar\/\" style=\"\" rel=\"noopener\">jointly calling<\/a> on both Hamas and Israel to finalize the agreement.\u201d <strong>The news got on ink from:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/biden-unveils-new-gaza-truce-proposal-hamas-responds-positively-2024-05-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/5716d8d3-241c-4f8b-abf0-7be8fc335a0e\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-hamas-war-news-01-06-2024-8c06dda3a8e20491b5a34377c60bb827\" style=\"\" rel=\"noopener\">Associated Press<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign Minister Prince Faisal bin Farhan discussed the proposal with US Secretary of <\/strong><strong>State Antony <\/strong><strong>Blinken<\/strong>, according to two separate statements (<a target=\"_blank\" href=\"https:\/\/twitter.com\/KSAmofaEN\/status\/1796928569932657079\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-blinkens-call-with-saudi-foreign-minister-prince-faisal-bin-farhan-al-saud-16\/\" style=\"\" rel=\"noopener\">here<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- A meeting with the Chinese:<\/strong> Bin Farhan met with his Chinese counterpart Wang Yi in Beijing. Regional developments and bilateral ties were on the agenda, according to a <a target=\"_blank\" href=\"https:\/\/twitter.com\/KSAmofaEN\/status\/1796464394421055603\" style=\"\" rel=\"noopener\">post on X<\/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\/ipo-watch\/\">IPO watch<\/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=\"86737\" 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=\"86738\" 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=\"86738\">\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\">CAPITAL MARKET<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/aramco-to-launch-blockbuster-sar-43-bn-share-sale-today\/\">\r\n                            Aramco to launch blockbuster SAR 43 bn share sale today                        <\/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\/2024\/06\/02\/aramco-to-launch-blockbuster-sar-43-bn-share-sale-today\/\" 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 oil giant is taking an additional 0.64% stake to market, or 1.5 bn ordinary shares, guiding on a price range of SAR 26.70-29.00 a piece, it said in <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/investors\/share-offering\" style=\"\" rel=\"noopener\">a statement on Thursday<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The timeline: <\/strong>Institutional book-building gets underway in just a couple of hours and will run until Thursday, 6 June, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/11.pdf\" style=\"\" rel=\"noopener\">a separate statement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pundits are tipping the secondary share sale as the sixth largest globally since Aramco\u2019s <\/strong><strong>USD 30 bn Tadawul IPO in 2019<\/strong>, and the fourth largest follow-on offering within the same period, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-31\/aramco-saudi-arabia-tempts-new-investors-with-lure-of-124-billion-dividend\" style=\"\" rel=\"noopener\">Bloomberg reports<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco is courting international and regional institutions for the offering.<\/strong> The institutional tranche of the sale will account for at least 90% of the shares on offer, while no more than 10% will be allocated to retail investors, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/6.crdownload\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a> for the transaction. The offering will be Regulation S compliant, making it easier for global institutional investors to take part. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s selling? <\/strong>Aramco\u2019s largest shareholder, the Saudi government, is selling down its position to an 81.55% stake from 82.19%. The treasury will take home most of the offering\u2019s proceeds to support its diversification strategy and <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/latest-news\/oil\/053024-saudi-arabia-to-sell-more-aramco-shares-as-opec-ministers-meet\" style=\"\" rel=\"noopener\">reduce the local economy\u2019s reliance on oil revenues<\/a>. Its shares will remain in lock-up for a period of six months from the first day of trading. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The transaction comes as the government looks to unlock non-oil sources of income to plug its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c2fc3553-9b62-45b2-976c-e59edea1878e\" style=\"\" rel=\"noopener\">budget deficit<\/a> and push bns of USD worth of gigaprojects out of the pipeline. Think massive investments in sports, AI, tourism, and infrastructure. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember- PIF upped its stake in Aramco ahead of the expected sale:<\/strong> Sovereign wealth fund PIF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e07c7da8-cdae-4c02-8d5a-33637252b1b9\/%253cmark%253earamco%253c%2Fmark%253e-reports-lower-net-income-in-1q-2024,-but-looks-on-track-to-boost-this-year%25e2%2580%2599s-dividend\" style=\"\" rel=\"noopener\">doubled its stake in Aramco to 16% in March<\/a>, which the oil company says did not affect its total number of issued shares nor its operations, strategy or dividend distribution policy. The sale \u201cmay certainly bolster the PIF balance sheet\u201d Helima Croft, global head of commodity strategy at RBCs investment bank, <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/latest-news\/oil\/053024-saudi-arabia-to-sell-more-aramco-shares-as-opec-ministers-meet\" style=\"\" rel=\"noopener\">tells S&P Global<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Key dates to watch:<\/strong><\/p>\n<ul>\n<li><strong>Institutional investors<\/strong> will be able to place their orders starting today until Thursday 6 June, for a minimum of 100k shares each. No maximum limit applies;<\/li>\n<li><strong>Retail investors<\/strong> will get a three-day subscription period starting tomorrow until Wednesday, 5 June, for a minimum of 10 shares each with no upper limit;<\/li>\n<li><strong>The final allocation of shares and final price<\/strong> of the offering will be announced on the same day, Friday, 7 June;<\/li>\n<li><strong>Newly sold shares will start trading<\/strong> on Sunday, 9 June, following the completion of negotiated trades and the deposit of shares into retail investors\u2019 portfolios;<\/li>\n<li>Excess subscription amounts will be returned on Tuesday, 11 June. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Buyers can expect part of a USD 124 bn dividend<\/strong>, which Bloomberg Intelligence expects will amount to a dividend yield of <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-31\/aramco-saudi-arabia-tempts-new-investors-with-lure-of-124-billion-dividend\" style=\"\" rel=\"noopener\">6.6%<\/a>. Aramco is set to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e07c7da8-cdae-4c02-8d5a-33637252b1b9\/aramco-reports-lower-net-income-in-1q-2024,-but-looks-on-track-to-boost-this-year%25e2%2580%2599s-dividend\" style=\"\" rel=\"noopener\">boost its dividend this year by as much as 30% over 2023<\/a> thanks to a performance-based dividend, despite a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7f34631d-7f0c-4e11-9474-e110bc43a409\/%253cmark%253earamco%253c%2Fmark%253e-could-pull-the-trigger-on-a-secondary-share-sale-in-the-coming-weeks\" style=\"\" rel=\"noopener\">14.4%<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7f34631d-7f0c-4e11-9474-e110bc43a409\/%253cmark%253earamco%253c%2Fmark%253e-could-pull-the-trigger-on-a-secondary-share-sale-in-the-coming-weeks\" style=\"\" rel=\"noopener\">y-o-y<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7f34631d-7f0c-4e11-9474-e110bc43a409\/%253cmark%253earamco%253c%2Fmark%253e-could-pull-the-trigger-on-a-secondary-share-sale-in-the-coming-weeks\" style=\"\" rel=\"noopener\">dip<\/a> in net income in 1Q 2024 to SAR 102.3 bn on lower crude oil sales. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the pundits are saying: <\/strong>\u201cThe stock hasn\u2019t performed well recently but it\u2019s a fantastic buy-and-hold position,\u201d Ryan Lemand, chief executive officer of Neovision Wealth Management <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-31\/aramco-saudi-arabia-tempts-new-investors-with-lure-of-124-billion-dividend\" style=\"\" rel=\"noopener\">told Bloomberg<\/a>. \u201cIt is a dividend play for institutional investors,\u201d he said, adding that \u201crisks are mainly related to valuations because the company trades at higher multiples than its peers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- The Bulge Bracket owns this one. <\/strong>SNB Capital is lead manager. HSBC, BofA, Citi, Goldman Sachs, JP Morgan, Morgan Stanley, Meryll Lynch, and SNB Capital will act as joint global coordinators, bookrunners and financial advisors. Al Rajhi Capital, Riyad Capital and Saudi Fransi Capital will act as domestic bookrunners. Meanwhile, M. Klein and Company and Moelis will act as independent financial advisors. Meryll Lynch will act as the stabilizing manager. White & Case will act as Aramco\u2019s legal advisor. Pwc will act as auditor. Receiving agents include, Alinma Bank, Alrajhi Banking and Investment Corporation, Arab National Bank, Banque Saudi Fransi, Riyad Bank, Saudi Awwal Bank, Saudi National Bank. <\/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\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tadawul\/\">Tadawul<\/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=\"86740\" 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=\"86740\">\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\">FINANCE WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/pif-joins-the-push-to-have-wall-street-firms-declare-riyadh-their-regional-hq\/\">\r\n                            PIF joins the push to have Wall Street firms declare Riyadh their regional HQ                        <\/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\/2024\/06\/02\/pif-joins-the-push-to-have-wall-street-firms-declare-riyadh-their-regional-hq\/\" 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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/pif-joins-the-push-to-have-wall-street-firms-declare-riyadh-their-regional-hq\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/pif-joins-the-push-to-have-wall-street-firms-declare-riyadh-their-regional-hq\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=PIF joins the push to have Wall Street firms declare Riyadh their regional HQ&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/pif-joins-the-push-to-have-wall-street-firms-declare-riyadh-their-regional-hq\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/pif-joins-the-push-to-have-wall-street-firms-declare-riyadh-their-regional-hq\/&title=PIF joins the push to have Wall Street firms declare Riyadh their regional HQ\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=PIF+joins+the+push+to+have+Wall+Street+firms+declare+Riyadh+their+regional+HQ+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F02%2Fpif-joins-the-push-to-have-wall-street-firms-declare-riyadh-their-regional-hq%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/pif-joins-the-push-to-have-wall-street-firms-declare-riyadh-their-regional-hq\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1599.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86741\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/pif-joins-the-push-to-have-wall-street-firms-declare-riyadh-their-regional-hq\/1599-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1599.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1599.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1599.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1599.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86740\" class=\"content-area-description single-story post-86740 post type-post status-publish format-standard has-post-thumbnail hentry category-finance-watch tag-enterpriseam-ksa tag-finance-watch tag-public-investment-fund-pif tag-regional-headquarters-program wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.9953fa45-ff38-4871-8572-c94afed0b0a6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Public Investment Fund <\/strong><strong>is joining a wider government policy drive to prompt Wall <\/strong><strong>Street firms to set up <\/strong><strong>shop in Riyadh<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-01\/saudi-arabia-puts-wall-street-on-notice-to-set-up-shop-in-riyadh\" style=\"\" rel=\"noopener\">Bloomberg reports<\/a>, citing people it says are familiar with the matter. The PIF has added language to documents it sends to potential service providers explicitly asking them whether they\u2019ve taken out a regional headquarters license in Saudi. The PIF has yet to formally require the license as a condition of doing business with the megafund. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cOnce there is sufficient adoption of RHQ licenses in a sector, then it increases the pressure on other players in the sector to follow,\u201d Waleed Rasromani, national managing partner for Saudi Arabia at law firm Linklaters, told the business news service. \u201cMany firms in the financial industry are looking carefully at the RHQ rules at the moment.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Clarity coming? <\/strong>Many bankers are unsure how their Middle East operations (read: presence in the UAE) would have to change as a result of taking out a regional HQ license here. Bloomberg claims the Investment Ministry is working with the Capital Market Authority and the central bank to sort that out.<\/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\/finance-watch\/\">FINANCE 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\/regional-headquarters-program\/\">Regional Headquarters Program<\/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=\"86742\" 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=\"86742\">\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\">ARTIFICIAL INTELLIGENCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/aramco-unit-invests-in-chinese-rival-to-openai\/\">\r\n                            Aramco unit invests in Chinese rival to OpenAI                        <\/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\/2024\/06\/02\/aramco-unit-invests-in-chinese-rival-to-openai\/\" 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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/aramco-unit-invests-in-chinese-rival-to-openai\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/aramco-unit-invests-in-chinese-rival-to-openai\/&title=Aramco unit invests in Chinese rival to OpenAI\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Aramco+unit+invests+in+Chinese+rival+to+OpenAI+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F02%2Faramco-unit-invests-in-chinese-rival-to-openai%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/aramco-unit-invests-in-chinese-rival-to-openai\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/500.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86743\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/aramco-unit-invests-in-chinese-rival-to-openai\/500-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/500.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"500.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/500.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/500.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86742\" class=\"content-area-description single-story post-86742 post type-post status-publish format-standard has-post-thumbnail hentry category-artificial-intelligence tag-aramco tag-aramco-ventures tag-artificial-intelligence tag-enterpriseam-ksa tag-investment-watch tag-prosperity7 tag-zhipu-ai wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.04789b65-bfd9-443f-a549-8e0fcf681b63.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>An Aramco venture capital fund has invested in a Chinese rival to OpenAI:<\/strong>  <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/search\/prosperity7\" style=\"\" rel=\"noopener\">Prosperity7<\/a> , a unit of Aramco\u2019s venture capital arm, Aramco Ventures, has taken a minority position in a USD 400 mn round raised by Chinese AI start-up Zhipu AI, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/87a40ffe-c791-4c90-8123-3f75aa0ed26b\" style=\"\" rel=\"noopener\">Financial Times<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-31\/saudi-fund-joins-400-million-financing-for-china-ai-firm-zhipu\" style=\"\" rel=\"noopener\">Bloomberg<\/a> report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What gives? <\/strong>\u201cThe Saudis don\u2019t want Silicon Valley dominating this industry,\u201d one source close to the fund told the Financial Times. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: There are dueling impulses at work here.<\/strong> Saudi in general (and Aramco in particular) has been carefully pursuing closer ties with China, which has been <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/china-wants-a-bigger-role-in-the-middle-east-but-not-too-big-1e8b0941\" style=\"\" rel=\"noopener\">on a drive to get more involved<\/a> in regional affairs. China is Aramco\u2019s <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/01\/04\/business\/saudi-aramco-china-rongsheng-intl-hnk\/index.html\" style=\"\" rel=\"noopener\">most important markets<\/a>, whether you\u2019re talking crude sales, refining capacity, or petrochemicals. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the US has made it clear that it doesn\u2019t want Mideast firms deepening the <\/strong><strong>involvement with China\u2019s tech sector. <\/strong>We believe the Washington and Riyadh are negotiating not two, but three pacts \u2014 security and defense, aid for the nuclear power industry, and a third agreement on cooperation in AI and advanced technologies. The latter would include a pledge <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6097eecd-a387-43b7-8ee0-375416c1111b\/saudi%25e2%2580%2599s-tilt-toward-silicon-valley-is-nearly-complete.-plus:-srmg-to-restructure-some-of-its-holdings.\" style=\"\" rel=\"noopener\">to bias toward US tech<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Case in point: <\/strong>The UAE\u2019s G42, after balancing between the US and China, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-25\/g42-allies-with-us-over-china-in-global-ai-conflict\" style=\"\" rel=\"noopener\">ultimately cast its<\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-25\/g42-allies-with-us-over-china-in-global-ai-conflict\" style=\"\" rel=\"noopener\">lot with US tech<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong>Zhipu AI is one of four big Chinese AI outfits (the others are Moonshot AI, MiniMax and 01.ai) that has so far been very reliant on state funding and Chinese cloud infrastructure given US curbs on the industry. <\/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\/aramco-ventures\/\">Aramco Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/artificial-intelligence\/\">artificial intelligence<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/prosperity7\/\">Prosperity7<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/zhipu-ai\/\">Zhipu AI<\/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=\"86744\" 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=\"86744\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/state-budget-closes-fy-2023-in-deficit\/\">\r\n                            State budget closes FY 2023 in deficit                        <\/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\/2024\/06\/02\/state-budget-closes-fy-2023-in-deficit\/\" 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 deficit came on the back of increased spending on economic diversification projects; the latest figures are nearly identical to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cb9e503d-90eb-4c7f-bd82-7d455ca6c784\/%253cmark%253ebudget%253c%2Fmark%253e-deficit-for-fy-2023-is-better-than-finmin-had-forecast\" style=\"\" rel=\"noopener\">earlier data<\/a> released in February.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The Kingdom <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c2fc3553-9b62-45b2-976c-e59edea1878e\" style=\"\" rel=\"noopener\">reported its sixth consecutive quarter<\/a> with a budget deficit, posting a deficit of SAR 12.4 bn in the first quarter of 2024 \u2014 four times higher than its shortfall in 1Q 2023. Officials are accepting modest fiscal deficits as the price of pursuing growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No surprise there: <\/strong>Policymakers have accepted small deficits as the price of continuing to invest in growth: \u201cWe intentionally decided to spend more and cause the deficit. If you spend that money right, on productive assets, then it\u2019s money well spent,\u201d Finance Minister Mohamed Al Jadaan <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/63cece36-2173-462e-b416-e07d99393408\" style=\"\" rel=\"noopener\">said in December<\/a> during the FY 2024 budget forecast. He signaled it will continue to run deficits to support the \u201cgovernment's strategic expansionary spending\u201d even as it paced out some components of select gigaprojects. Some officials have taken to calling gigaprojects <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/90373716-a067-4b54-bad2-897195c8cd1f\" style=\"\" rel=\"noopener\">modular<\/a> and Neom has gone on a drive to underscore to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d415e8f0-fa26-473b-acf6-0a2208bd6637\/\" style=\"\" rel=\"noopener\">contractors<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e8706c8f-4009-4953-8129-18c0cd862016\/\" style=\"\" rel=\"noopener\">bankers<\/a> that everything is on track.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE BREAKDOWN-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Non-oil revenues rose 15.5% to SAR 458 bn in FY2023<\/strong> compared to the approved budget on the back of structural reforms for diversification and improved tax management and collection. Total revenues were up 7.3% y-o-y to SAR 1.2 trn due to a rise in oil and non-oil revenues. Oil revenues came in at SAR 755 bn. Revenues from goods and services tax came in at SAR 262 bn, while revenues from capital gains tax more than doubled to SAR 39 bn. Taxes on foreign trade and custom duties hit SAR 22 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total expenditures for FY 2023 rose 16.1% to reach SAR 1.3 tn <\/strong>compared to the approved budget due to structural reforms and diversification projects. Public spending on nearly all sectors saw an increase in comparison with the approved budget, with health and development sectors seeing the highest increase at 35.2% to SAR 256 bn. This was driven by additional allocations for social protection programs aimed at alleviating cost pressures. Military spending was the only sector seeing a decline in comparison with the approved budget with a 1.8% drop to SAR 254 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to expect in 2024:<\/strong> The budget deficit is expected to come in at SAR 79 bn by the end of FY2024, leaving the government short of SAR 86 bn in total financing needs, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1678.pdf\" style=\"\" rel=\"noopener\">latest figures (pdf)<\/a> by the National Debt Management Center.<\/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\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mohamed-al-jadaan\/\">Mohamed Al Jadaan<\/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=\"86746\" 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=\"86746\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/alujain-finalizes-sar-1-9-bn-sale-of-35-stake-in-natpet\/\">\r\n                            Alujain finalizes SAR 1.9 bn sale of 35% stake in NATPET                        <\/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\/2024\/06\/02\/alujain-finalizes-sar-1-9-bn-sale-of-35-stake-in-natpet\/\" 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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Alujain\u2019s post-transaction ownership of Naptet settles at 65%. Bassel is a subsidiary of NYSE-listed Lyondellbasell Industries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds<\/strong>: Alujain will pay down all of its SAR 1.2 bn in debt and will use the rest to pursue \u201cinvestments that are being studied with the aim of diversifying the company's sources of income and enhancing the company\u2019s financial stability.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>As part of the agreement, Naptet transferred ownership of its wholly owned subsidiary, Infrastructure Reinforcement Industrial Company (Iric), and 50% of its share in Natpet Schulman to Alujain, the disclosure reads. This transfer ensures that both companies remain under the direct control of Alujain following Naptet\u2019s acquisition. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A snapshot of Naptet\u2019s earnings<\/strong>: Naptet\u2019s net income dropped 49.7% y-o-y to SAR 261 mn in 2022, according to the disclosure. Meanwhile, revenues decreased 6% y-o-y to SAR 1.9 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong> Alujain Corp\u2019s share price rose 1% to SAR 41.10 at market close on Thursday.<\/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\/alujain\/\">Alujain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/bassel-international-holdings\/\">Bassel International Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-petrochemical-industrial-company-naptet\/\">National Petrochemical Industrial Company (NAPTET)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/petrochemicals\/\">petrochemicals<\/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=\"86748\" 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=\"86748\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/iyris-closed-usd-16-mn-in-a-series-a-round\/\">\r\n                            Agritech startup Iyris closed USD 16 mn in a series A round                        <\/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\/2024\/06\/02\/iyris-closed-usd-16-mn-in-a-series-a-round\/\" 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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/iyris-closed-usd-16-mn-in-a-series-a-round\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/iyris-closed-usd-16-mn-in-a-series-a-round\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Iyris closed USD 16 mn in a series A round&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/iyris-closed-usd-16-mn-in-a-series-a-round\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/iyris-closed-usd-16-mn-in-a-series-a-round\/&title=Iyris closed USD 16 mn in a series A round\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Iyris+closed+USD+16+mn+in+a+series+A+round+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F02%2Fiyris-closed-usd-16-mn-in-a-series-a-round%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/iyris-closed-usd-16-mn-in-a-series-a-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/62.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86749\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/iyris-closed-usd-16-mn-in-a-series-a-round\/62-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/62.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"62.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/62.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/62.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86748\" class=\"content-area-description single-story post-86748 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-aanaab tag-agritech tag-education tag-enterpriseam-ksa tag-iyris tag-rethink-education tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.877e4825-926f-4805-8404-41f40baec1ac.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/iyris.com\/\" style=\"\" rel=\"noopener\">agritech startup Iyris<\/a><\/strong><strong> (formerly RedSea) raised USD 16 mn in a Series A <\/strong><strong>round<\/strong> led by San Francisco\u2019s <a target=\"_blank\" href=\"https:\/\/eif.vc\/\" style=\"\" rel=\"noopener\">Ecosystem Integrity Fund (EIF)<\/a> with participation from existing and new investors including Global Ventures, Dubai Future District Fund, Kanoo Ventures, Globivest, and Bonaventure Capital, according to <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/05\/saudi-agritech-iyris-secures-16-million-seies-a-round\" style=\"\" rel=\"noopener\">a press release<\/a>. Iyris has international operations in the UAE, Egypt, Morocco, Spain, Portugal, Mexico and North America. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we don\u2019t know:<\/strong> Information about the equity size the shareholders will have to give up in return for the investment, and the structure of the investment wasn\u2019t disclosed. It\u2019s also unclear how much each institution invested in the round. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds: <\/strong>The freshly raised funds will go towards increasing the company\u2019s sales coverage and international sales pipeline for its <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/secondsky\/\" style=\"\" rel=\"noopener\">SecondSky<\/a> greenhouse covers and shade nets. This is in addition to developing the agritech firm\u2019s heat blocking products and its hybridized plant genetics. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch: <\/strong>\u201cIyris\u2019 suite of products is tailored for growers in harsh and volatile conditions, who have historically been underserved by AgriClimate Tech innovation. These growers, who often operate on thin margins, have few options to better manage their farms to reduce the risk of crop loss, increase yields, and reduce water and energy consumption,\u201d said Sasha Brown, a partner at EIF. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> Iyris claims that its products can save energy and water consumption by up to 90% in its target markets with \u201cthe transparent heat-blocking greenhouse roof - alone - has delivered reductions in energy usage by over 40% and water consumption by 30% at customer installations.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong><a target=\"_blank\" href=\"https:\/\/www.kirchnerpcg.com\/\" style=\"\" rel=\"noopener\">Kirchner Group<\/a> and <a target=\"_blank\" href=\"https:\/\/www.kslaw.com\/\" style=\"\" rel=\"noopener\">King & Spalding<\/a> advised Iyris on the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AANAAB GETS INVESTMENT FROM RETHINK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Saudi-based edtech <\/strong><strong><a target=\"_blank\" href=\"https:\/\/aanaab.com\/\" style=\"\" rel=\"noopener\">Aanaab<\/a><\/strong><strong> secured an undisclosed investment from US-based <\/strong><strong>edtech venture capital <\/strong><strong><a target=\"_blank\" href=\"https:\/\/rethink-capital.com\/education\/\" style=\"\" rel=\"noopener\">Rethink Education<\/a><\/strong> to help provide training solutions to school teachers and professionals, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/05\/rethink-education-invests-saudi-edtech-aanaab\" style=\"\" rel=\"noopener\">statement<\/a>. This investment makes Aanaab the first Saudi-based edtech company to receive funding from an international edtech VC fund and one of the few in the MENA region, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the platform: <\/strong>Anaab is a digital training platform that advances the professional development of K\u201312 teachers through courses, licensing, and qualifications, predominantly in Arabic. It currently has over 200k teachers and 250 schools across 10 countries in the Mena region.<\/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\/aanaab\/\">Aanaab<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/agritech\/\">Agritech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/iyris\/\">Iyris<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/rethink-education\/\">Rethink Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP 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=\"86750\" 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=\"86750\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/united-mining-industries-reappoints-raed-al-mudiaheem-as-chairman\/\">\r\n                            United Mining Industries reappoints Raed Al Mudiaheem as chairman                        <\/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\/2024\/06\/02\/united-mining-industries-reappoints-raed-al-mudiaheem-as-chairman\/\" 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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/united-mining-industries-reappoints-raed-al-mudiaheem-as-chairman\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/united-mining-industries-reappoints-raed-al-mudiaheem-as-chairman\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=United Mining Industries reappoints Raed Al Mudiaheem as chairman&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/united-mining-industries-reappoints-raed-al-mudiaheem-as-chairman\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/united-mining-industries-reappoints-raed-al-mudiaheem-as-chairman\/&title=United Mining Industries reappoints Raed Al Mudiaheem as chairman\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=United+Mining+Industries+reappoints+Raed+Al+Mudiaheem+as+chairman+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F02%2Funited-mining-industries-reappoints-raed-al-mudiaheem-as-chairman%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/united-mining-industries-reappoints-raed-al-mudiaheem-as-chairman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/58.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86751\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/united-mining-industries-reappoints-raed-al-mudiaheem-as-chairman\/58-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/58.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"58.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/58.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/58.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86750\" class=\"content-area-description single-story post-86750 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-ksa tag-moves tag-raed-al-mudiaheem tag-united-mining-industries wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.f358d183-0ab7-4c6d-a249-76e66b39c796.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The board of Nomu-listed <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ugc.com.sa\/\" style=\"\" rel=\"noopener\">United Mining Industries<\/a><\/strong><strong> has reappointed Raed Al Mudaiheem <\/strong><strong>(<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/raed-al-mudaiheem-5a425519\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) as <\/strong><strong>chairman of the board <\/strong>for a three-year term that began on Thursday, according to a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/54vu8dxx\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Al Mudaiheem has served as the company\u2019s chairman since February 2018. He is also the chairman of Jeddah Airports Company (Jedco Ksa) and deputy chairman of Jeddah Chamber.<\/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\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/raed-al-mudiaheem\/\">Raed Al Mudiaheem<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/united-mining-industries\/\">United Mining Industries<\/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=\"86752\" 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=\"86752\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/aramcos-secondary-sale-is-getting-all-the-attention\/\">\r\n                            Aramco\u2019s secondary sale is getting all the attention                        <\/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\/2024\/06\/02\/aramcos-secondary-sale-is-getting-all-the-attention\/\" 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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/aramcos-secondary-sale-is-getting-all-the-attention\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/aramcos-secondary-sale-is-getting-all-the-attention\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Aramco\u2019s secondary sale is getting all the attention&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/aramcos-secondary-sale-is-getting-all-the-attention\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/aramcos-secondary-sale-is-getting-all-the-attention\/&title=Aramco\u2019s secondary sale is getting all the attention\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Aramco%E2%80%99s+secondary+sale+is+getting+all+the+attention+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F02%2Faramcos-secondary-sale-is-getting-all-the-attention%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/aramcos-secondary-sale-is-getting-all-the-attention\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/56.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86753\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/aramcos-secondary-sale-is-getting-all-the-attention\/56-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/56.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"56.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/56.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/56.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86752\" class=\"content-area-description single-story post-86752 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-amin-nasser-regional-headquarters tag-aramco tag-enterpriseam-ksa tag-gerard-pique tag-saudi-in-the-news wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.74dddb4c-4235-4395-82da-ed536e3fd652.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It was a mixed bag for Saudi in the foreign press<\/strong>, with Aramco\u2019s share offering, the government\u2019s efforts to expand the number of foreign financial firms setting regional headquarters in the capital, and some football leading the conversation. Aramco\u2019s planned share offering today is getting coverage from <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/saudi-arabia-sets-new-test-international-interest-with-131-bln-aramco-sale-2024-05-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-29\/saudi-arabia-set-to-launch-10-billion-aramco-share-sale-sunday\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e11fd8b3-ed17-40d9-9ee8-e171df9be558\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.barrons.com\/news\/oil-giant-aramco-says-to-offer-more-shares-on-saudi-bourse-6113a279\" style=\"\" rel=\"noopener\">AFP<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/saudi-aramco-stock-offering-b76f407d4b2a6cba7fa55a1d1d5dd2d0\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/energy-oil\/saudi-arabia-to-kick-off-aramco-stock-sale-of-up-to-12-billion-6e1936bc\" style=\"\" rel=\"noopener\">The Wall Street Journal<\/a> and others. Meanwhile, Aramco\u2019s CEO Amin Nasser is getting some love from <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/saudi-aramcos-amin-nasser-homegrown-engineer-who-reached-top-2024-05-30\/\" style=\"\" 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\/amin-nasser-regional-headquarters\/\">Amin Nasser regional headquarters<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/gerard-pique\/\">Gerard Pique<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/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=\"86754\" 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=\"86754\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/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\/2024\/06\/02\/acwa-power-eyes-green-hydrogen-production-in-tunisia-plus-advertising-debt-and-manufacturing\/\">\r\n                            Acwa Power eye green hydrogen production in Tunisia. Plus: advertising, debt and manufacturing                        <\/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\/2024\/06\/02\/acwa-power-eyes-green-hydrogen-production-in-tunisia-plus-advertising-debt-and-manufacturing\/\" 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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/acwa-power-eyes-green-hydrogen-production-in-tunisia-plus-advertising-debt-and-manufacturing\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/acwa-power-eyes-green-hydrogen-production-in-tunisia-plus-advertising-debt-and-manufacturing\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Acwa Power eyes green hydrogen production in Tunisia. Plus: advertising, debt and manufacturing&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/acwa-power-eyes-green-hydrogen-production-in-tunisia-plus-advertising-debt-and-manufacturing\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/acwa-power-eyes-green-hydrogen-production-in-tunisia-plus-advertising-debt-and-manufacturing\/&title=Acwa Power eyes green hydrogen production in Tunisia. Plus: advertising, debt and manufacturing\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Acwa+Power+eyes+green+hydrogen+production+in+Tunisia.+Plus%3A+advertising%2C+debt+and+manufacturing+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F02%2Facwa-power-eyes-green-hydrogen-production-in-tunisia-plus-advertising-debt-and-manufacturing%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/acwa-power-eyes-green-hydrogen-production-in-tunisia-plus-advertising-debt-and-manufacturing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/54.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86755\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/acwa-power-eyes-green-hydrogen-production-in-tunisia-plus-advertising-debt-and-manufacturing\/54-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/54.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"54.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/54.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/54.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86754\" class=\"content-area-description single-story post-86754 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-aanaab tag-acwa-power tag-alibaba tag-alkhorayef-water-and-power-technologies-awpt tag-also-on-our-radar tag-arabian-plastic-industrial-apico tag-aramco tag-east-pipes tag-enterpriseam-ksa tag-faden-media tag-gas-and-oil-pakistan-go tag-group-five-pipe tag-middle-east-specialized-cables-company-mesc tag-naseej-for-tech tag-obeikan-glass tag-rethink-education tag-tunisia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.bf23aa3d-1cb0-4952-ab71-31d75e44b4e7.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">RENEWABLES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa Power sets eyes on Tunisian green hydrogen project: <\/strong>Renewables giant Acwa Power signed an MoU with the Tunisian government to implement a green hydrogen project in the North African country, <a target=\"_blank\" href=\"https:\/\/www.tap.info.tn\/en\/Portal-Economy\/17527353-mou-to-develop\" style=\"\" rel=\"noopener\">Tunis Afrique Presse (TAP)<\/a> reports. The project, which aims to produce 200k tons of green hydrogen in the first phase, will include a 2 GW electrolysis unit and a solar and wind power plant with a total capacity of about 4.1 GW with total investments of USD 6.2 bn. Feasibility studies on the project could take two to four years, with a planned launch in 2027-2028 and a production date of 2030, according to Tunisian officials. Further stages will bring concentrated renewable energy capacity up to 12 GW with green hydrogen production tripled to over 600k tons a year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Off to Europe:<\/strong> The hydrogen will be exported to Europe via the SoutH2 Corridor pipeline which connects North Africa to Italy, Austria, and Germany, according to <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2521256\/business-economy\" style=\"\" rel=\"noopener\">Arab News<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco completed the acquisition of a 40% stake in oil retail company Gas & Oil <\/strong><strong>Pakistan (GO)<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2024\/aramco-completes-acquisition-of-stake-in-gas-and-oil-pakistan\" style=\"\" rel=\"noopener\">statement<\/a>. The acquisition gives Aramco access to over 1.2k GO retail fuel stations across Pakistan. It signed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1fc623a9-e8b6-40c2-9300-df1fdc157851\" style=\"\" rel=\"noopener\">binding agreement<\/a> last year to acquire a 40% stake in the oil marketing company. The value of the transaction was not made public.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The oil giant has been making moves in the fuel retail market for some time:<\/strong> Aramco <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a98144c8-7b43-48fc-b6b9-945284fe8123\" style=\"\" rel=\"noopener\">recently completed<\/a> its acquisition of a 100% equity stake in Chile\u2019s fuel distributor Esmax Distribuci\u00f3n to mark its entry into fuel retailing in South America. It is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e77ac356-d3eb-4128-a173-3ccd6f1e561a\" style=\"\" rel=\"noopener\">mulling an entry<\/a> into the Malyian fuel market through a potential acquisition of Shell\u2019s units in the Southeast Asian countries. It is also looking to tap Africa as it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/70b4a4f7-d125-4fa9-99e0-bbc7a85d12e5\" style=\"\" rel=\"noopener\">seeks countries<\/a> with fast growing economies. Aramco also set up its subsidiary Saudi Aramco Retail <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2018\/saudi-aramco-announces-creation-of-saudi-aramco-retail-company\" style=\"\" rel=\"noopener\">in 2018<\/a> as part of a strategy to bolster its downstream value globally.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TAX<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi and Qatar have inked an agreement to avoid double taxation<\/strong>, with the pact being signed by Finance Minister Mohamed Al Jadaan and his Qatari counterpart, Ali Al Kuwari, according to a <a target=\"_blank\" href=\"https:\/\/www.mof.gov.sa\/en\/MediaCenter\/news\/Pages\/News_30052024.aspx\" style=\"\" rel=\"noopener\">statement by the finance ministry<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ADVERTISING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Faden Media Company \u2014 a wholly owned unit of Arabian Contracting Services \u2014 has <\/strong><strong>landed <\/strong><strong>four outdoor advertising contracts in Riyadh worth a combined SAR 944 mn<\/strong> with Riyadh municipality development arm Remat Al Riyadh Development, the parent company said in four separate disclosures to Tadawul (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVFdc4IwEPxFnRxaPnzE0qIOfiBahRcn4KnMCGFCcIq_vgFsrbbaNpOH3M7u3d6GBGRJgpQe4i0VMUvpXtZ-oK1UU4NWz4Ax9GZPoIFna_OZoVgtjSwuCcbQ1sAdme64patgvwIJ_qUHb6KC-zIZth2Ygg3a3_Rw45i_zvelXr9J6CvEIwEJwtIrk5Dtif8IutIgZpqyIo0wwVQQvwa7pYeUR7tZmSHxQZoLLuePzY4u1xt07b5jtg1Nvyb8kN_VBt8Dqgl3EvAwrWO6u-aCY84KHiGZblF83c2Jc2FRQYkb0WiHDh5wP6FbbJKh60OcM55XLOI_1DHkGAnGray__kSu0ss4WxeRaHKqAMHkiNM7k829-CgrBZp250yVD8KoSELkVniCNpwl5w60sh9V5k-qVWND4JtofqjhraVigjxm0ijJkvl8eZxheNxkz9OOuh0cRurFHZrvUawfMw!!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzQwNzEvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5MDA0\/\" style=\"\" rel=\"noopener\">here<\/a> | <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEKwQK5IIcs4RISRw5Din9-uaBhGihopYP3vHM7OwSl6yJG7Nj4DMViJiFRb1xjW2HGtDumzCF_uINDHAsY7kwtV7bIKtrgjm2DLAn1J62ux2wPoC4_9KDM-uA_T4b6yOYgwXGY3q4c-gD_d1rypQ-d4sEw1drMKK6aXR_Em6M-KPJ7xkqwh8hh8T1Q-HVC6exp5s-cSXuUaJsZbKAD0ol6UsDGpDnecsXwg-xxUXUgFuSg0gVWV8ziYNxta7u3X0MNLKSmIpMciRzHxWNY5HFHCOM1ShIVY8pRmzO-AFHeMRwxnwkTjkf2x2DVMi0ZJFNiaTIlZC9ZLA716fIE2H9TqTYZVwtTgnWgBKF9fmdFKZO8FVUGtRGTPLDhVv-T7LIQ9nzyEYvob0U0cWAlal5mbkWadumVjXBT-VUZjVvVyhmKANRJkyi5XINwaDpeiddj2hk6tc3p0_fk2e1vA!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MDcxL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNDg5\/\" style=\"\" rel=\"noopener\">here<\/a> | <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNT8JAEP0tHjjCTGko1dsqsWCQDwsKvZDtdihN2m6z3YL4622pkYBicLOHnbfvvXkz4MECvJRvo5DrSKY8LuulZ606zMJ238Yx9mcPaKHrWPOZbfTaFrydEuxnx8LpiE3H7W4HnVcE7196dCcdnD5Ons0hvqCD1nV6vHDYFf29U8qY3XbLBE_3zmDITNvqnhN-GfGsyc8ZDoQ_Qj6BF8bSrxfOUt-0Q_AUrUmRahWqhDdaZ_ldAxu42-1aoZRhTC0hkwb-JtnIXMPilAkupYd1dS_uY2DAm6JcFkoQvISkWZrKIhWUUKqHUa57XHOYCi42NKQtxRMeErjVfDzYRrlUecWCZdOosJyElqqXDYJvZJ_4MoZl9c6UDAqhZ_uMakDL0v7rnZXGbvRRVgbWVlyJzZFb_Y-KxCfV82HZrqC1ksnRgFfJRZW7FhmrOoGmd-0ezGpeUCompCJZZoQsmc8XGA2anr83zYQltnl6d-zmE9fOPEQ!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MDcxL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNDky\/\" style=\"\" rel=\"noopener\">here<\/a> | <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEKwQK5IIcs4RISRw5Din9-uaBhGihopYP3vHM7OwSl6yJG7Nj4DMViJiFRb1xjW2HGtDumzCF_uINDHAsY7kwtV7bIKtrgjm2DLAn1J62ux2wPoC4_9KDM-uA_T4b6yOYgwXGY3q4c-gD_d1rypQ-d4sEw1drMKK6aXR_Em6M-KPJ7xkqwh8hh8T1Q-HVC6exp5s-cSXuUaJsZbKAD0ol6UsDGpDnecsXwg-xxUXUgFuSg0gVWV8ziYNxta7u3X0MNLKSmIpMciRzHxWNY5HFHCOM1ShIVY8pRmzO-AFHeMRwxnwkTjkf2x2DVMi0ZJFNiaTIlZC9ZLA716fIE2H9TqTYZVwtTgnWgBKF9fmdFKZO8FVUGtRGTPLDhVv-T7LIQ9nzyEYvob0U0cWAlal5mbkWadumVjXBT-VUZjVvVyhmKANRJkyi5XINwaDpeiddj2hk6tc3p0_fk2e1vA!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MDcxL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNDkw\/\" style=\"\" rel=\"noopener\">here<\/a>). The agreements cover digital billboards as well as signage on taxis and public buses. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The board of Arabian Contracting Services has recommended a 10% capital <\/strong><strong>increase to SAR 550 mn<\/strong> through transferring SAR 50 mn from retained earnings to the company\u2019s capital. It said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNT8JAEP0tHjjCTGko1dsqsWCQDwsKvZDtdihN2m6z3YL4622pkYBicLOHnbfvvXkz4MECvJRvo5DrSKY8LuulZ606zMJ238Yx9mcPaKHrWPOZbfTaFrydEuxnx8LpiE3H7W4HnVcE7196dCcdnD5Ons0hvqCD1nV6vHDYFf29U8qY3XbLBE_3zmDITNvqnhN-GfGsyc8ZDoQ_Qj6BF8bSrxfOUt-0Q_AUrUmRahWqhDdaZ_ldAxu42-1aoZRhTC0hkwb-JtnIXMPilAkupYd1dS_uY2DAm6JcFkoQvISkWZrKIhWUUKqHUa57XHOYCi42NKQtxRMeErjVfDzYRrlUecWCZdOosJyElqqXDYJvZJ_4MoZl9c6UDAqhZ_uMakDL0v7rnZXGbvRRVgbWVlyJzZFb_Y-KxCfV82HZrqC1ksnRgFfJRZW7FhmrOoGmd-0ezGpeUCompCJZZoQsmc8XGA2anr83zYQltnl6d-zmE9fOPEQ!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MDcxL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNDk0\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The capital increase by Arabian Contracting comes under its plan to support expansions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Alkhorayef Water and Power Technologies has increased its Sharia-compliant credit <\/strong><strong>facilities from the Saudi Investment Bank to SAR 380.5 mn<\/strong> from SAR 180.5 mn, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNT8JAEP0tHjjCTGko1dsqsWCQDwsKvZDtdihN2m6z3YL4622pkYBicLOHnbfvvXkz4MECvJRvo5DrSKY8LuulZ606zMJ238Yx9mcPaKHrWPOZbfTaFrydEuxnx8LpiE3H7W4HnVcE7196dCcdnD5Ons0hvqCD1nV6vHDYFf29U8qY3XbLBE_3zmDITNvqnhN-GfGsyc8ZDoQ_Qj6BF8bSrxfOUt-0Q_AUrUmRahWqhDdaZ_ldAxu42-1aoZRhTC0hkwb-JtnIXMPilAkupYd1dS_uY2DAm6JcFkoQvISkWZrKIhWUUKqHUa57XHOYCi42NKQtxRMeErjVfDzYRrlUecWCZdOosJyElqqXDYJvZJ_4MoZl9c6UDAqhZ_uMakDL0v7rnZXGbvRRVgbWVlyJzZFb_Y-KxCfV82HZrqC1ksnRgFfJRZW7FhmrOoGmd-0ezGpeUCompCJZZoQsmc8XGA2anr83zYQltnl6d-zmE9fOPEQ!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMDgxL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNDk5\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Information on the duration of these facilities or how they will be utilized has not been provided. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Nomu-listed Obeikan Glass has lined up a SAR 50 mn in Sharia-compliant credit <\/strong><strong>facility <\/strong><strong>from Saudi Awwal Bank to finance its working capital<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNT8JAEP0tHjjCTGko1dsqsWCQDwsKvZDtdihN2m6z3YL4622pkYBicLOHnbfvvXkz4MECvJRvo5DrSKY8LuulZ606zMJ238Yx9mcPaKHrWPOZbfTaFrydEuxnx8LpiE3H7W4HnVcE7196dCcdnD5Ons0hvqCD1nV6vHDYFf29U8qY3XbLBE_3zmDITNvqnhN-GfGsyc8ZDoQ_Qj6BF8bSrxfOUt-0Q_AUrUmRahWqhDdaZ_ldAxu42-1aoZRhTC0hkwb-JtnIXMPilAkupYd1dS_uY2DAm6JcFkoQvISkWZrKIhWUUKqHUa57XHOYCi42NKQtxRMeErjVfDzYRrlUecWCZdOosJyElqqXDYJvZJ_4MoZl9c6UDAqhZ_uMakDL0v7rnZXGbvRRVgbWVlyJzZFb_Y-KxCfV82HZrqC1ksnRgFfJRZW7FhmrOoGmd-0ezGpeUCompCJZZoQsmc8XGA2anr83zYQltnl6d-zmE9fOPEQ!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC85NTMxL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNDk1\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Tadawul-listed Middle East Specialized Cables Company (Mesc) said its UAE <\/strong><strong>subsidiary <\/strong><strong>Mesc Ras Al Khaimah UAE was awarded a contract \u201cto supply a range of its products\u201d with a value of up to SAR 225 mn (USD 60 mn)<\/strong> with a UAE JV comprising the National Petroleum Construction Co. (NPCC) and Italy\u2019s Saipem SpA, it said in a <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1731902\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The exact value of the contract is subject to change due to price fluctuation in needed materials with the determined supply period beginning in Q4 2024 and ending in Q4 2025. Final contract terms will still be determined and signed by both parties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Plastics manufacturer Arabian Plastic Industrial <\/strong><strong>(Apico) kicked off operations at its <\/strong><strong>new <\/strong><strong>plant in Al Kharj Industrial City<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWhUQ3WEUjI-IEiPOxgw6jiQwQ3CU-PeOusL46q7tubc3BQIxEEEvKacqlYJmut8QZ2t7DrZGLs4DvzXEhd_tLwbDoIkTC9Z1AKPQ1kA4a09xiQE6QP7R44fy8LeefEWCzivwJuID-JJhDIRnMnn-wxNJ2-VASnZgJSvNc6nHR6WKU89AA6uqMrmUPGPmTuYGvpMc5UlBXCfv3N3lYaLonlbnTKuJXhVUXKNrnkh9qGtbLkRMQJGvYkzDfO0qO7G8xg2IZrfo\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDQ4Mi9jb21wYW55U3ltYm9sLzk1NDgvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The financial details and production capacity were not disclosed. The inauguration comes months after Apico signed a 20-year lease agreement with the Saudi Authority for Industrial Cities and Technology Zones (Modon) to set up a new manufacturing facility in light of growing demand from consumers in the central and eastern regions, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1600761\" style=\"\" rel=\"noopener\">Argaam<\/a> reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Nomu-listed<\/strong><strong> Group Five Pipe will manufacture and supply <\/strong><strong>spiral-welded steel pipes to <\/strong><strong>Aramco<\/strong> under a SAR 186 mn contract, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yckxxs4p\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- <\/strong><strong>Tadawul-listed East Pipes Integrated Company will manufacture and supply steel <\/strong><strong>pipes to <\/strong><strong>Al Rashid Trading and Contracting<\/strong> under multiple contracts worth over SAR 57 mn, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yasvhw43\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EDUCATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Naseej Tech has secured a SAR 11.3 mn contract from the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/nelc.gov.sa\/en\" style=\"\" rel=\"noopener\">National eLearning Center<\/a><\/strong><a target=\"_blank\" href=\"https:\/\/nelc.gov.sa\/en\" style=\"\" rel=\"noopener\"><\/a> to operate and maintain its learning management system, ensuring its efficiency and adapting to the latest technological practices in e-learning, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEKwQK5IIcs4RISRw5Din9-uaBhGihopYP3vHM7OwSl6yJG7Nj4DMViJiFRb1xjW2HGtDumzCF_uINDHAsY7kwtV7bIKtrgjm2DLAn1J62ux2wPoC4_9KDM-uA_T4b6yOYgwXGY3q4c-gD_d1rypQ-d4sEw1drMKK6aXR_Em6M-KPJ7xkqwh8hh8T1Q-HVC6exp5s-cSXuUaJsZbKAD0ol6UsDGpDnecsXwg-xxUXUgFuSg0gVWV8ziYNxta7u3X0MNLKSmIpMciRzHxWNY5HFHCOM1ShIVY8pRmzO-AFHeMRwxnwkTjkf2x2DVMi0ZJFNiaTIlZC9ZLA716fIE2H9TqTYZVwtTgnWgBKF9fmdFKZO8FVUGtRGTPLDhVv-T7LIQ9nzyEYvob0U0cWAlal5mbkWadumVjXBT-VUZjVvVyhmKANRJkyi5XINwaDpeiddj2hk6tc3p0_fk2e1vA!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC85NTM4L2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNDkx\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/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\/aanaab\/\">Aanaab<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/acwa-power\/\">ACWA power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alibaba\/\">Alibaba<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alkhorayef-water-and-power-technologies-awpt\/\">Alkhorayef Water and Power Technologies (AWPT)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n 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-->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/rethink-education\/\">Rethink Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tunisia\/\">Tunisia<\/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=\"86756\" 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=\"86756\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/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\/2024\/06\/02\/capital-inflows-to-emerging-economies-forecasted-to-rise-32-in-2024\/\">\r\n                            Capital inflows to emerging economies forecasted to rise 32% in 2024                        <\/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\/2024\/06\/02\/capital-inflows-to-emerging-economies-forecasted-to-rise-32-in-2024\/\" target=\"_blank\">\n                    Open in new tab         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<li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Capital+inflows+to+emerging+economies+forecasted+to+rise+32%25+in+2024+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F02%2Fcapital-inflows-to-emerging-economies-forecasted-to-rise-32-in-2024%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/02\/capital-inflows-to-emerging-economies-forecasted-to-rise-32-in-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86756\" class=\"content-area-description single-story post-86756 post type-post status-publish format-standard hentry category-planet-finance tag-emerging-markets tag-enterpriseam-ksa tag-foreign-direct-investment tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.fe685fb6-1bca-4dce-8209-9d6ae0f34f8a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Emerging economies are expected to attract USD 903 bn in capital inflows this year, <\/strong>marking a 32% y-o-y increase thanks to a recovery of foreign direct investment and increased cash inflows into equity portfolios, according to a report by the Institute of International Finance (IIF) cited by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/emerging\/capital-flows-emerging-markets-net-903-billion-2024-iif-says-2024-05-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. \u201cA global 'soft landing' scenario makes for a positive picture for capital flows to EMs,\" the report writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story<\/strong> with all of the links to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia, Egypt, and the UAE are expected to account for 80% of all capital inflows to <\/strong><strong>the Middle East <\/strong>\u2014 in no small part thanks to the UAE\u2019s USD 35 bn investment in Ras El Hekma, which the Egyptian government thinks<font face=\"Arial\">&nbsp;could pull in&nbsp;<\/font>a further USD 150 bn in investment. For the Middle East and Africa as a whole, the IIF thinks we will see some USD 149 bn in net nonresident capital flows in 2025, up from USD 115 bn last year, while also seeing net outflows of resident capital settling.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fine print: <\/strong>These inflow projections hinge on accelerated economic growth in emerging markets as well as \u201csignificant\u201d rate cuts in developed economies, the report writes. The report\u2019s projections are based on the assumption that the Federal Reserve will cut interest rates by 0.25 percentage points later this year and bring down rates to 3.7% by the end of 2025, along with the EU and UK beginning rate cuts in June or July.<\/p>\n<p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p>\n<p> <a target=\"_blank\" id=\"t.06763f0c87bca03324158c1630ed4d0561c9fcdd\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,503<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.7% (YTD: -3.9%)<\/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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,436<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.7% (YTD: -7.4%)<\/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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,610<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2% (YTD: +8.5%)<\/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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% 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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,923<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +8.2%)<\/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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,863<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3% (YTD: -7.5%)<\/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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3,978<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: -2.0%)<\/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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,278<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +10.6%)<\/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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,275<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +7.0%)<\/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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,984<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.00% (YTD: +10.2%)<\/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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 81.11  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9%<\/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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.59  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6%<\/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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,346<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9%<\/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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.coindesk.com\/price\/bitcoin\" style=\"\" rel=\"noopener\">BTC<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 67,737<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +61.2%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI fell 1.7% on Thursday <\/strong>on turnover of SAR 13.1 bn. The index is down 3.9% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Medgulf (+7.7%), Amak (+5.4%) and Awpt (+4.6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Acwa Power (-10%), Cenomi Retail (-7.9%) and Tawuniya (-6.4%).<\/p>\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong><strong> rose 1.2% on Thursday <\/strong>on turnover of SAR 36.4 mn. The index is up 8.5% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Alrasheed (+12.6%), Osool &amp; Bakheet (+12.4%) and Al Babtain Food (+6.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Miral (-8.9%), Riyadh Steel (-7.8%) and Alrashid Industrial (-7.0%)<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">#<strong>1- The board of Tadawul-listed Banque Saudi Fransi has recommended more than <\/strong><strong>doubling the bank\u2019s capital increase to SAR 25 bn<\/strong> by way of capitalizing some SAR 12.9 bn in retained earnings and statutory reserve, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDBTsJAEP0WDxxlpjSU6m2VWCEg1IJAL2a7jKVJ2222Wyp-vS01EhQMbvaw8_a9N28GfFiCn_JtFHIdyZTHVb3yrdcus7DzaOMEH2f3aKHnWPOZbfQ7FiyOCfbYsdB9Yu6k0-ui84Lg_0uP3rSL7sN0bI7wGR20LtPjmcMu6O8fUybsplclGN45gxEzbav3k3BixB9Nfs-wJ_wRcgh-GMugWThLA9MOwVf0RopUu1AVvNE6y29b2MKyLNuhlGFMbSGTFp6SbGSuYXnMBI_S_bp6Z_cxMGChKJeFEgTPIWmWprJIBSWU6lGU6z7XHFzBxYZGtKV4ykMCr56Pr7dRLlVes2B1bdRYTkJL1c8G629klwQyhlX9zpRcF0LPdhk1gJaV_dc7q4y96KOqDGysuBKbA7f-fyqSgFQ_gJVZQ29KJgcDXicXde5GZLw2CTS9a29v1vDWlWJKKpJVRsiS-XyJ0eDaD3ammbDENo9vya4-AW8OdoI!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8xMDUwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNDg4\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The move aims to \u201cstrengthen the bank's financial position which contributes to achieving its strategic objectives.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Shareholders of Tadawul-listed Al Etihad Cooperation Ins. approved the board\u2019s <\/strong><strong>recommendation to increase <\/strong><strong>the company\u2019s capital by 11.1% to SAR 500 mn<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/zzx8shef\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The capital increase will be made by transferring SAR 50 mn from retained earnings to the company\u2019s capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Shareholders approved a dividend of SAR 27 mn for FY 2023 at SAR 0.6 a piece to eligible shareholders, according to the disclosure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The board of Tadawul-listed fertilizers maker Sabic Agri-nutrients approved a <\/strong><strong>dividend of SAR 1.4 bn at SAR 3 apiece for 1H 2024<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qCGId6BALsgxSxIpiSPHgdKvbx5IiBYqavngHc_Mzi5xyZq4CTuEPlOhSFhU1BvX2HaoAe2-CRPoL97AAMcylgtT67UNsrommCPLgNmYzibtbgesDyDuv_TgTDswe5-O9CHMwQLjMT3cOfSB_u41ZUKfu0WCwatlD6luGt2fhBsj_mjye4aK8EfIAXH9SHj1wmni6aZPXIl7lChbuSzgQKk0e2lAA47HY8sXwo-wxUXcgFuSQGSKrK-ZxMGkWlf37j5sjawkZiKXHMncR0WTROQJxxgTNQwz1WOKkRlnPMAhHjCaMh-JU87HdocwEzIrWWRTIhlyJWQvtXfn-hR7IqrfqRS7nKvFKcUaUKKwPr_TwtQJv4pKg9qISR5cuOX_OI89lD2PbNoltJcivhiwMjUvM9cibdvUqib4qZzKrObtCsUUZSjKhGm8XK4htJuud9L1mMamfn2P9OkbK6f_eg!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMDIwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNTAx\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The distribution date was set for Monday, 22 July.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Shareholders of Tadawul-listed Solutions by Stc approved the board\u2019s <\/strong><strong>recommendation to distribute dividends of SAR 714 mn at SAR 6 per share for FY 2023<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qCGId6BALshxlhApiSPHgdKvbx5IiBYqavngHc_Mzi5xyZq4CTuEAVOhSFhU1BvX2HaoAe2-CRPoL97AAMcylgtT67UNsrommCPLgNmYzibtbgesDyDuv_TgTDswe5-O9CHMwQLjMT3cOfSB_u41ZUKfu0WCwatlD6luGt2fhBsj_mjye4aK8EfIAXGDSHj1wmni6WZAXIk7lChbuSzgvVJp9tKABhyPx1YgRBBhi4u4Abcke5Epsr5mEgeTal3du_uwNbKSmIlcciTzABVNEpEnHGNM1DDMVI8pRmac8T0O8YDRlAVInHI-5h_CTMisZJFNiWTIlZC91PbP9Sn2RFS_Uyn8nKvFKcUaUKKwPr_TwtQJv4pKg9qISb6_cMv_cR57KHse2XRKaCdFfDFgZWpeZq5F2rapVU3wUzmVWc3zC8UUZSjKhGm8XK4htJuud9L1mMamfn2P9OkbwO6YRA!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC83MjAyL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNDY2\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> <strong>. <\/strong>The dividends will be distributed on Wednesday, 26 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Shareholders of Tadawul-listed Makkah Construction and Development approved the <\/strong><strong>board\u2019s recommendation for a dividend of SAR 247 mn at SAR 1.5 apiece for FY 2023,<\/strong> it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/19.pdf\" style=\"\" rel=\"noopener\">disclosure to Tadawul (pdf)<\/a>. The distribution date is yet to be announced.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- Shareholders of Tadawul-listed Gulf Insurance Group approved the board\u2019s <\/strong><strong>recommendation for a dividend of SAR 78.8 mn at SAR 1.5 per share for FY 2023<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/41.pdf\" style=\"\" rel=\"noopener\">disclosure to Tadawul (pdf)<\/a>. The distribution date is yet to be announced.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#7- Tadawul-listed homegrown supermarket group BinDawood Holding completed the <\/strong><strong>purchase of shares allocated to its employee\u2019s stock long-term incentive program<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qCGId6BALshxlhApiSPHgdKvbx5IiBYqavngHc_Mzi5xyZq4CTuEAVOhSFhU1BvX2HaoAe2-CRPoL97AAMcylgtT67UNsrommCPLgNmYzibtbgesDyDuv_TgTDswe5-O9CHMwQLjMT3cOfSB_u41ZUKfu0WCwatlD6luGt2fhBsj_mjye4aK8EfIAXGDSHj1wmni6WZAXIk7lChbuSzgvVJp9tKABhyPx1YgRBBhi4u4Abcke5Epsr5mEgeTal3du_uwNbKSmIlcciTzABVNEpEnHGNM1DDMVI8pRmac8T0O8YDRlAVInHI-5h_CTMisZJFNiWTIlZC91PbP9Sn2RFS_Uyn8nKvFKcUaUKKwPr_TwtQJv4pKg9qISb6_cMv_cR57KHse2XRKaCdFfDFgZWpeZq5F2rapVU3wUzmVWc3zC8UUZSjKhGm8XK4htJuud9L1mMamfn2P9OkbwO6YRA!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MTYxL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNDYy\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The supermarket group bought 2 mn shares worth SAR 15 mn at SAR 7.50 per share. The move aims to attract and retain key talents to help in contributing to the group\u2019s growth.<\/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\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/foreign-direct-investment\/\">foreign direct investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/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=\"86757\" 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\/2024\/06\/02\/86757\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86757\" class=\"content-area-description single-story post-86757 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;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2 June (Sunday): <\/span><span>OPEC+<\/span><span style=\"font-weight:400;\"> meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-3 June (Sunday-Monday): Global Project Management Forum, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-4 June (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.chamber.org.sa\/sites\/English\/MediaCenter\/ChamberNews\/Pages\/NewsDetails.aspx?Title=Al-Raziza:%20Electronic%20Applications%20Exhibition%202024%20contributes%20to%20enhancing%20digital%20commerce\" style=\"\">Electronic Applications Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Al Dammam. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 June (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudisportshow.com\/\" style=\"\">Saudi Sports Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 June (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/aqaratexpo.com\/en\/home\/\" style=\"\">Aqarat Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.hashgrowth.org\/events\/growth-summit-2024-riyadh\/#getinvite\" style=\"\">GROWTH Summit Riyadh<\/a><\/span><span style=\"font-weight:400;\">, InterContinental Riyadh, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/saudi-arabia-host-world-environment-day-2024-focus-land-restoration\" style=\"\">World Environment Day<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/digitransformationsummit.com\/ksa\/\" style=\"\">Digital Transformation Summit<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6 June (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudimanufacturingshow.com\/\" style=\"\">Saudi Manufacturing Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10 June (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.teamlab.art\/e\/jeddah\/\" style=\"\">#teamLabBorderless<\/a><\/span><span style=\"font-weight:400;\">, Jeddah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10 June (Monday): Deadline to register for school bus services for the upcoming academic year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 June (<\/span><span>Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.spa.gov.sa\/N2109515\" style=\"\">Norah<\/a><\/span><span style=\"font-weight:400;\"> premiers in theaters.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">14-22 June (Friday-Saturday): Banks and capital markets closed for Eid Al Adha holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4 July-25 August: (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/esportsworldcup.com\/\" style=\"\">Esports World Cup<\/a><\/span><span style=\"font-weight:400;\">, Boulevard Riyadh City, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-11 July: (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/gemtechforum.com\/\" style=\"\">Global EV & Mobility Tech Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-15 August (Monday-Thursday): The Saudi Food Expo, Riyadh <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/globalaisummit\/status\/1789658478690078841\" style=\"\">Global AI Summit<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-12 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/informaconnect.com\/saudi-event-show\/\" style=\"\">The Saudi Event Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-19 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/evautoshowonline.com\/\" style=\"\">EV Auto Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>18-19 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudimaritimecongress.com\/en\/home.html\" style=\"\">Saudi Maritime & Logistics Congress<\/a><\/span><span style=\"font-weight:400;\">, Dammam.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-26 September (Tuesday-Thursday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiinfrastructureexpo.com\/\" style=\"\">Saudi Infrastructure Expo<\/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;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 September (Monday): National Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>21-22 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/smartportstransformation.com\/\" style=\"\">Smart Ports & Logistics Transformation Summit<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>29-31 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fii-institute.org\/press\/unveiling-the-8th-future-investment-initiatives-theme-infinite-horizons-investing-todayshaping-tomorrow\/\" style=\"\">Future Investment Initiative Conference<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:400;\">31 October (Thursday): No-visa travel for Saudis to Montenegro on charter flights expires. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-9 November (Saturday- Saturday): WTA Finals, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiarabia-energy.com\/en\/home.html\" style=\"\">Saudi Electricity Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-14 November (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cityscapeglobal.com\/en\/home.html\" style=\"\">Cityscape Global<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>18-20 November (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theheatshow.com\/beta\/\" style=\"\">The Heavy Equipment and Truck Show<\/a><\/span><span style=\"font-weight:400;\">, Dammam.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25-27 November (Monday-Wednesday): World Investment Conference, Riyadh.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-28 November (Tuesday-Thursday): Saudi Electricity Expo, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-13 December (Monday-Friday): Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11 December (Wednesday): FIFA Congress, which will decide the hosting countries for the FIFA World Cup 2030 and 2034<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2024:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">The AFC Champions League Elite<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10-13 February (Monday-Thursday): Leap 2025, the Kingdom\u2019s premier tech investment conference.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">UN Trade and Development Global Supply Chain Forum <\/span><span style=\"font-weight:400;\">to take place in Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The World Water Forum <\/span><span>takes place in Riyadh. <\/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","protected":false},"excerpt":{"rendered":"<p>PIF joins regional HQ push for Wall Street firms | Aramco invests in Chinese OpenAI rival |  Opec+ meet today | Iyris closes USD 16 mn series A<\/p>\n","protected":false},"featured_media":86734,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-86733","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"0b38df70-44f1-4c27-90dc-5af9d12d34df","teaser":"PIF joins regional HQ push for Wall Street firms | Aramco invests in Chinese OpenAI rival |  Opec+ 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