{"id":86830,"date":"2024-06-04T00:00:00","date_gmt":"2024-06-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=86830"},"modified":"2025-12-14T18:16:55","modified_gmt":"2025-12-14T18:16:55","slug":"aramco-is-on-the-road-and-pif-wants-to-raise-gbp-debt","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/aramco-is-on-the-road-and-pif-wants-to-raise-gbp-debt\/","title":{"rendered":"Aramco is on the road and PIF wants to raise GBP debt"},"content":{"rendered":"<section id=\"86832\" 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=\"86832\">\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\/04\/aramco-execs-are-hitting-the-road-to-drum-up-interest-in-oil-giants-secondary-offering\/\">\r\n                            THIS MORNING: Aramco execs are hitting the road to drum up interest in oil giant\u2019s secondary offering                        <\/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 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style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people. <\/strong>We have a nice, compact issue for you this morning with Aramco\u2019s blockbuster share sale and word the PIF wants to raise GBP-denominated debt leading the headlines. <\/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\"> <strong>#1- \u201cTop executives\u201d from Aramco will be in London and the US for a roadshow <\/strong><strong>to drum up foreign investor interest in the oil giant\u2019s USD 12 bn secondary share sale<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-03\/aramco-share-sale-saudis-woo-foreign-investors-with-us-london-roadshows\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources it says are familiar with the matter. Aramco CEO Amin Nasser is expected to be at \u201cat least one of the events in London this week\u201d and CFO Ziad Al Murshed will also attend the London leg of the roadshow. A \u201cseparate\u201d roadshow is slated to take place in the US, Bloomberg reports, without providing further information on the exact location or timeline for the US events.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The sale got off to a strong start earlier this week<\/strong>, with the blockbuster follow-on offering <a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/0dfc1e37-d5b6-465b-9b5d-56a9f9756d01\/aramco%e2%80%99s-blockbuster-share-sale-sells-out-within-hours,-putting-the-treasury-on-track-to-raise-as-much-as-sar-43.5-bn\" style=\"\" rel=\"noopener\">fully covered<\/a> \u201chours\u201d after <a target=\"_blank\" href=\"https:\/\/twitter.com\/aramco\/status\/1797221123983102462\" style=\"\" rel=\"noopener\">kicking off<\/a> on Sunday. Both local and foreign investors subscribed to the offering. Aramco had set a price range of SAR 26.70-29.09, meaning the Kingdom\u2019s treasury could see an inflow of as much as SAR 43.5 bn if pricing closes at the top of the range. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Institutional book-building continues through Thursday<\/strong>, while the three-day subscription period for retail investors began yesterday and closes tomorrow. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/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. Our friends at EFG Hermes KSA will act as domestic bookrunners alongside Al Rajhi Capital, Riyad Capital, and Saudi Fransi Capital. Meanwhile, M. Klein and Company and Moelis will act as independent financial advisors. Meryll Lynch will act as the stabilization manager. White &amp; Case is legal counsel to Aramco, while PwC is 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<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- Where do things stand on the Saudi-US defense pact?<\/strong> A \u201chistoric\u201d bilateral agreement between Riyadh and Washington is still in the works as officials continue negotiating the terms, US Ambassador to Saudi Arabia Michael Ratney said in an <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2522196\/saudi-arabia\" style=\"\" rel=\"noopener\">interview with Arab News<\/a>. The timeline on the pact \u2014 which US Secretary of State Antony Blinken said last month could be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/538fa1db-058f-44d5-bcdb-d9ed1a99cf6b\/blinken-suggests-us-saudi-defense-and-nuclear-pacts-could-wrap-up-in-a-matter-of-%253cmark%253eweeks%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">\u201cweeks away\u201d<\/a> from finalizing \u2014 remains unclear, with several moving parts, Ratney said. In addition to securing Israel\u2019s OK on a two-state solution with Palestine as a precondition for the agreement, a pact would also need clearance from the US Senate, the ambassador noted. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> The agreement would see Washington provide security assurances to Riyadh, along with cooperation on the development of a domestic nuclear power industry, as well as on artificial intelligence and other technologies.<\/p>\n<p class=\"tag-border-left\">HAPPENING THIS WEEK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>IPO WATCH- Trading of shares in Fakeeh Care Group will begin on Tadawul\u2019s main <\/strong><strong>market tomorrow<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details\/!ut\/p\/z1\/vVPLdoIwEP2WLlxiRt7tLn1Re7CKihY2nggB00JCIUo_v1G7UI99bZrV3MmdzONOUIyeUczJhuVEMsFJoXAU2wsL26A_uDD0pn4Pgpnju7Ng2oO-iWYoRnHCZSVXKJIkJe26WFDegYZon3BnVzVLaEN4ynhKlbVzctrujZLUr1TuYSIPoKaDboINhlawRjKeb9MVIiEFRRHlW1QlLEWRBdQ2U9PQyNJNNZPYPe2S6KZGl2mmp-BYupGh-XE37sCzIXjCwVB3LPBmgOLvmz2Jh8nIguB-NDB8GIMH9u_i4YuDf8w_UR1H6g3nSxJWSTaMtijkoi6VgJM_jkix5zeDRRDejVWmg0k_AHr8qT61Lezl7S3GaiUEl_Rdouf_2In5tuzD0ob40lHKPF57fR8bru2cEs5If0w4o-2O8I14ajx5IZb7X4P50nDVttY0ozWtu-tauVdSVs1VBzrQtm03FyIvaDcRZQfOhaxEo-Z3zERVWbpGqYWhupjSaHHrZ5P-i1VsfHzxAZOKQ_k!\/dz\/d5\/L2dBISEvZ0FBIS9nQSEh\/?locale=en\" style=\"\" rel=\"noopener\">Tadawul announcement<\/a>. Shares will be allowed to trade within a \u00b130% band on each of the first three days before being capped at no more than 10% up or down after that before circuit breakers kick in. (All shares on Tadawul are subject to the 10% up-or-down rule.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Fakeeh Care\u2019s IPO drew in strong demand, with the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/49df4304-4dc9-4573-b7d6-1e6540d7469d\" style=\"\" rel=\"noopener\">institutional tranche<\/a> of the offering closing 119x oversubscribed, while the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/02e57edc-6b25-486a-b752-db4a40d4fa61\/%253cmark%253efakeeh%253c%2Fmark%253e-care-%2B-miahona-closer-to-tadawul-listings\" style=\"\" rel=\"noopener\">retail tranche<\/a> was 14.5x oversubscribed. Abu Dhabi Investment Authority (Adia), the UAE\u2019s largest sovereign wealth fund, and Olayan Saudi Investment are both cornerstone investors in the IPO. The Riyadh-based healthcare provider is taking a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/341bef0a-b671-4d76-8852-f8d5914c345c\" style=\"\" rel=\"noopener\">21.5% stake to market<\/a> through an offering of both new and existing shares. The IPO was priced at the top of the range at SAR 57.5 per share, setting it up to be the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/108d78f3-ae8f-43fc-aeaa-39f9d514e131\/rasan-one-step-closer-to-tadawul-ipo\" style=\"\" rel=\"noopener\">largest IPO so far this year<\/a> with SAR 2.9 bn in proceeds. <\/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>Saudi and<\/strong><strong> the UN Environment Program are hosting this year\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.worldenvironmentday.global\/about\/history\" style=\"\" rel=\"noopener\">World Environment Day<\/a><\/strong> <strong> tomorrow<\/strong> with a focus on land restoration, desertification and drought resilience. The event is the largest global platform for environmental outreach gathering people from over 150 countries. You can register for the event <a target=\"_blank\" href=\"https:\/\/www.worldenvironmentday.global\/get-involved\/register\" 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><a target=\"_blank\" href=\"https:\/\/www.hashgrowth.org\/events\/growth-summit-2024-riyadh\/#getinvite\" style=\"\" rel=\"noopener\">The #Growth Summit<\/a><\/strong><strong> is set to kick off tomorrow<\/strong>, bringing together marketing, product and growth experts at the InterContinental in Riyadh. You can request your invite <a target=\"_blank\" href=\"https:\/\/www.hashgrowth.org\/events\/growth-summit-2024-riyadh\/#getinvite\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>Markets will be closed for Eid week:<\/strong> The Tadawul will be closed to trading after the closing bell on Thursday, 13 June and will reopen on Sunday, 23 June in observance of Eid Al Adha, the exchange said in a <a target=\"_blank\" href=\"https:\/\/x.com\/tadawul\/status\/1797255878044745793\" style=\"\" rel=\"noopener\">post on X<\/a>. <\/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\"><a id=\"wwtt3\"><\/a> <strong>#1- More (Nomu) IPOs incoming:<\/strong> The Capital Market Authority (CMA) approved two companies\u2019 plans to IPO yesterday. Both companies \u2014 Almajed for Oud and Tharwah HR \u2014 have yet to release their prospectuses. <\/p>\n<ul>\n<li><strong><a target=\"_blank\" href=\"https:\/\/www.tharwah.net\/ar\" style=\"\" rel=\"noopener\">Tharwah HR<\/a><\/strong><strong> has received clearance to sell a 15% stake on Nomu<\/strong>, representing 706k shares, according to a separate <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/NEWS\/Pages\/CMA_N_3563.aspx\" style=\"\" rel=\"noopener\">statement<\/a> from the authority. <\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/almajed4oud.com\/ar-sa\/\" style=\"\" rel=\"noopener\">Almajed For Oud<\/a><\/strong><strong> has also been cleared to IPO a 30% stake in the company<\/strong>, representing 7.5 mn shares, according to a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/NEWS\/Pages\/CMA_N_3564.aspx\" style=\"\" rel=\"noopener\">CMA statement<\/a>. The CMA did not make clear whether this is main market or Nomu offering, but we believe it is the latter. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Companies have six months to pull the trigger on their IPOs<\/strong> after getting CMA approval, after which time the approval expires if the offering and listing are not complete. <\/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- An unnamed Kuwaiti bank could be buying a major stake in a Tadawul-listed bank in <\/strong><strong>a transaction<\/strong><strong> that could be worth as much as USD 1.7 bn<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.alraimedia.com\/article\/1689772\/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\/%D8%A8%D9%86%D9%88%D9%83\/%D8%A8%D9%86%D9%83-%D9%83%D9%88%D9%8A%D8%AA%D9%8A-%D9%8A%D9%81%D8%A7%D9%88%D8%B6-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AD%D9%88%D8%A7%D8%B0-%D8%B9%D9%84%D9%89-%D9%85%D8%B5%D8%B1%D9%81-%D8%B3%D8%B9%D9%88%D8%AF%D9%8A\" style=\"\" rel=\"noopener\">Al Rai<\/a> reports, citing unnamed sources. Talks are at an advanced stage, with the exact size of the acquisition \u2014 which could be as much as 50% of the bank \u2014 still being discussed. The Kuwaiti bank is currently working on due diligence, the sources said, without providing further details on either bank or the projected timeline for the acquisition. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Saudi <\/strong><strong>will be home to 100 new funds within the next two years<\/strong>, Investment Minister Khalid Al Falih said at the <a target=\"_blank\" href=\"https:\/\/x.com\/MISA\/status\/1797652282810777961\" style=\"\" rel=\"noopener\">Saudi-Brazilian Financial Sector Roundtable<\/a> yesterday, reports <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/06\/03\/article_2731726.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a>. Al Falih did not provide any further details or information, but we believe the minister is talking about the number of new funds he sees being set up, not the number of new asset managers that will set up here. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- More localization contracts will need to run through the Qiwa platform:<\/strong> Contracts related to localizing operations and maintenance for large businesses in which the government holds at least a 51% stake are now required to be documented on e-platform Qiwa, as the Human Resources and Social Development Ministry rolled out the second phase of its e-documenting plan for businesses, according to a <a target=\"_blank\" href=\"https:\/\/www.hrsd.gov.sa\/ar\/media-center\/news\/010620241\" style=\"\" rel=\"noopener\">statement<\/a>. The decision includes contracts for services including maintenance, catering, IT, and others. The third and final phase of the plan, which begins on 1 December, will introduce the requirement to all other businesses.<\/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\"><a id=\"wwtt4\"><\/a>  <strong>#1- The fruit of the regional headquarters program:<\/strong> A total of 127 firms set up regional headquarters in Saudi Arabia in 1Q 2024, marking a 477% y-o-y jump, according to the Investment Ministry\u2019s 1Q 2024 <a target=\"_blank\" href=\"https:\/\/investsaudi.sa\/en\/investment-monitor\/resources\" style=\"\" rel=\"noopener\">Economic and Investment Monitor<\/a>. The report attributes the increase to new <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ae469b11-e29f-4dd2-a4b0-f5c317c075f4\" style=\"\" rel=\"noopener\">tax incentives and exemptions<\/a> introduced for multinationals, as well as the ministry addressing some 34 legislative and procedural disputes from investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Earlier this year, the government rolled out tax incentives for foreign companies that relocate their regional headquarters to the Kingdom. The incentives are part of a plan that is a cornerstone of Crown Prince and Prime Minister Mohammed bin Salman\u2019s drive to build a diversified, globally significant non-oil economy, and has been in the works since February 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE LATEST TO JOIN THE PARTY-<\/strong> US-based data management player <a target=\"_blank\" href=\"https:\/\/www.denodo.com\/en\" style=\"\" rel=\"noopener\">Denodo<\/a> is setting up its regional HQ in Saudi, the company said in a <a target=\"_blank\" href=\"https:\/\/www.denodo.com\/en\/press-release\/2024-06-03\/denodo-opens-me-regional-head-office-kingdom-saudi-arabia-meet-growing\" style=\"\" rel=\"noopener\">statement<\/a>. \u201cThis new office will enable us to better serve our customers in the Middle East, providing them with our 'fearless data' approach to logical data management and the cutting-edge solutions they need to stay ahead in today's competitive market,\u201d said Denodo CEO and Founder \u00c1ngel Vi\u00f1a. Denodo already has its IT services partner <a target=\"_blank\" href=\"https:\/\/www.denodo.com\/en\/partner\/ejada\" style=\"\" rel=\"noopener\">Ejada<\/a> set up in Saudi. <\/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- <\/strong><strong>The Kingdom\u2019s combined live IT capacity has reached 205 MW, up from 40 MW in <\/strong><strong>2024<\/strong>, with 80% split between Riyadh, Jeddah, and Dammam, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/94.pdf\" style=\"\" rel=\"noopener\">Knight Frank\u2019s Summer 2024 Saudi Arabia Commercial Market Review (pdf)<\/a>. Riyadh accounts for the lion\u2019s share of local data center capacity with 40 MW, followed by Jeddah with 29 MW and Dammam with 19 MW. Knight Frank sees some USD 30 bn in capex going into local data centers by 2030, supported by the \u201croll out of 5G and the introduction of the Personal Data Protection Law.\u201d<\/p>\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Opec+<\/strong><strong> may be hinting at a shift in its production policy<\/strong> as the fine print on its latest decision reveals it will gradually phase-out output cuts as early as October 2024, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2024-06-03\/opec-says-goodbye-to-its-100-a-barrel-oil-quest\" style=\"\" rel=\"noopener\">Bloomberg\u2019s Javier Blas<\/a>. This could either mean the group is reversing its course, growing eager to pump more oil into the market, or strategically shifting away from its USD 100-a-barrel oil target, Blas wrote. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Giving up the quest for \u201ctriple-digit prices\u201d would not be a mistake<\/strong>, he added, saying that \u201csomewhat lower prices could help it in the long-term: by easing global inflation and therefore prompting lower interest rates and higher economic growth in emerging economies; and by removing the implicit subsidy that Opec+ was granting to its US shale rivals.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There is no telling whether the market can digest more oil: <\/strong>Opec\u2019s planned phase-out is sparking debate among pundits about whether market conditions are ready to absorb the group\u2019s extra barrels, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-02\/opec-has-outline-deal-extending-key-oil-production-cuts\" 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>Meanwhile, <\/strong><strong>gov\u2019t<\/strong><strong> is playing the long game: <\/strong>\u201cWe are waiting for interest rates to come down and a better trajectory when it comes to economic growth ... not pockets of growth here and there,\u201d Energy Minister <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-seen-prolonging-cuts-2024-into-2025-two-sources-say-2024-06-02\/\" style=\"\" rel=\"noopener\">Prince Abdulaziz bin Salman told Reuters<\/a> on the sidelines of the Opec+ meeting on Sunday. \u201cWe will maintain our precautious and preemptive approach,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-02\/opec-has-outline-deal-extending-key-oil-production-cuts\" style=\"\" rel=\"noopener\">he added<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong><strong>Opec+<\/strong><strong> extended crude oil production cuts <\/strong>during its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/32c67b87-a1a9-43a2-bba0-acc64f3e6962\/aramco-book-is-fully-covered-in-first-hours,-will-close-on-thursday\/23b2bb82-242d-42f7-a587-6812413add07\" style=\"\" rel=\"noopener\">meeting in Riyadh on<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/32c67b87-a1a9-43a2-bba0-acc64f3e6962\/aramco-book-is-fully-covered-in-first-hours,-will-close-on-thursday\/23b2bb82-242d-42f7-a587-6812413add07\" style=\"\" rel=\"noopener\">Sunday<\/a>. Production will remain unchanged until the end of this September, when the group will begin phasing out cuts over a 12-month period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil prices fell over 3% yesterday <\/strong>to their <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-prices-slip-despite-opec-production-cut-extension-2024-06-03\/\" style=\"\" rel=\"noopener\">lowest in close to four<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-prices-slip-despite-opec-production-cut-extension-2024-06-03\/\" style=\"\" rel=\"noopener\">months<\/a> as traders reacted to the Opec+ meeting.<\/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?&nbsp;<\/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\"><a id=\"wwtt4\"><\/a> <strong>#1- Tension between besties Russia and China? <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f7a34e3e-bce9-4db9-ac49-a092f382c526\" style=\"\" rel=\"noopener\">Financial Times<\/a> is picking up on growing tension between Russia and its closest ally China, after Beijing asked to purchase Russian gas at heavily subsidized domestic prices, endangering a major gas pipeline agreement between the two countries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Closer to home: Israel\u2019s coalition government has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c3847778-23b0-4743-afb4-a1999f8d7318\" style=\"\" rel=\"noopener\">fallen into infighting<\/a><\/strong> over a proposed ceasefire plan \u2014 and <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/03\/world\/middleeast\/egypt-corridor-israel-gaza-border.html\" style=\"\" rel=\"noopener\">relations between Cairo and Tel Aviv are ever more frosty<\/a> after Israel \u201cdefied Egyptian warnings\u201d and took control of the Philadelphi Corridor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- YOUR DAILY DOSE OF ELECTION COVERAGE- <\/strong>Nigel Farage, the former leader of the UK\u2019s Independence Party and a Brexiteer, will be running in next month\u2019s UK general election. Farage \u201chas been one of the most influential politicians in Britain since the Thatcher era,\u201d&nbsp;<a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/politics\/article\/2024\/jun\/03\/nigel-farage-a-potted-history-of-his-political-career-on-the-road-to-reform\" style=\"\" rel=\"noopener\">the Guardian writes<\/a>&nbsp;in a profile about the politician. The general election will take place on 4 July \u2014 Labour is looking to form its first government since May 2010.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Mexican voters have elected Claudia Sheinbaum as the nation\u2019s first woman president. <\/strong>She looks on track to claim a 30 percentage point margin of victory, giving her the opportunity to \u201creshape the country\u2019s political landscape\u201d together with her allies, the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/03\/world\/americas\/mexico-election-morena-results.html\" style=\"\" rel=\"noopener\">New York Times<\/a> notes. <strong>Some investors are spooked<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/530cb4eb-fedc-44e4-afd4-a75084b2297a\" style=\"\" rel=\"noopener\">Financial Times<\/a> writes, noting some have \u201csold the peso on fears of radical constitutional change.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FINALLY- The rich be getting richer: <\/strong>Half of the CEOs running S&amp;P 500 companies <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/ceo-pay-compensation-ratio-workers-fa25db3338b68ad9eb395dfd46190383\" style=\"\" rel=\"noopener\">surveyed<\/a><a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/ceo-pay-compensation-ratio-workers-fa25db3338b68ad9eb395dfd46190383\" style=\"\" rel=\"noopener\">by AP<\/a> made at least 196x what their median employee earned last year, up from 185x in 2022. Data from the newswire also showed that CEOs\u2019 median pay package rose 12.6% to USD 16.3 mn in 2023, while wages of private sector workers rose just 4.1% during the same period. <\/p>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/gemtechforum.com\/\" style=\"\" rel=\"noopener\">Global EV and Mobility Tech Forum<\/a><\/strong><strong> will open its doors on Wednesday, 10 July to <\/strong><strong>Thursday, 11 July at the Riyadh International Convention and Exhibition Center. <\/strong>The event will bring together policymakers, NGOs, and startups. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Conference on Arbitration and Dispute Resolution in Energy, Oil, and Gas will be <\/strong><strong>held in GCC countries for the first time in 2025<\/strong>, coming off the signing of a partnership between the GCC Commercial Arbitration Center, the Scottish Arbitration Center, and the International Conference on Law, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2114338\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>. The conference will bring together experts in international arbitration to discuss the legal, geopolitical, economic, and security aspects and challenges related to energy disputes in the GCC.<\/p>\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\/foreign-direct-investment\/\">foreign direct investment<\/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\" 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class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/fresh-gbp-bonds-for-pif\/\">\r\n                            PIF might be tapping the international debt market with a GBP bond sale                        <\/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\/04\/fresh-gbp-bonds-for-pif\/\" target=\"_blank\">\n 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data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/fresh-gbp-bonds-for-pif\/291-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/291.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"291.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/291.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/291.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86835\" class=\"content-area-description single-story post-86835 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-bonds tag-debt-watch tag-enterpriseam-ksa tag-public-investment-fund-pif tag-sukuk 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\/.49be26c8-8061-4b06-8c8e-c209d6fb5e75.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 (PIF) is planning to issue <\/strong><strong>GBP-denominated bonds<\/strong> in an offering consisting of senior unsecured notes with five- and 15-year tenors, reports <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-03\/saudi-arabia-wealth-fund-pif-eyes-rare-sterling-bond-sale-to-aid-cash-quest?srnd=homepage-europe\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, citing a person it says is familiar with the matter. The sale would be only the second GBP-denominated debt issuance in Saudi history. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where things stand:<\/strong> Investor calls were scheduled for yesterday, followed by the sale, Bloomberg\u2019s source said, without providing further details on the timeline. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew some version of this was coming: <\/strong>The PIF has been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ad19ee86-4de4-4c73-b3bf-7ec13f7c8a2f\/gov%25e2%2580%2599t-kicks-off-sale-of-second-usd-denominated-sukuk-this-year\" style=\"\" rel=\"noopener\">reportedly considering<\/a> more global bond sales and IPOs as it looks to ramp up the pace of investment as the Kingdom\u2019s treasury prepares to run deficits through 2026 and pace out the implementation of some aspects of select Vision 2030 projects. The fund plans to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/acceafd9-1836-42cf-a014-4ef36aa98a09\" style=\"\" rel=\"noopener\">ramp up<\/a> annual deployment capacity to USD 70 bn a year starting 2026, up from a current annual spending clip of USD 40-50 bn. PIF has raised USD 7 bn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ba2ec221-20e3-415c-ae7a-0392be183bb4\" style=\"\" rel=\"noopener\">since the start of the year<\/a> from two debt sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Global bonds are the way to go: <\/strong>Officials at multiple levels of government and the PIF have repeatedly said in recent months that they don\u2019t want to crowd private business out of the domestic debt market \u2014 and international appetite for the Saudi story is high.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government also kicked off FCY bond sales last week<\/strong>, selling <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ad19ee86-4de4-4c73-b3bf-7ec13f7c8a2f\/gov%25e2%2580%2599t-kicks-off-sale-of-second-usd-denominated-sukuk-this-year\" style=\"\" rel=\"noopener\">USD-denominated sukuk<\/a> with three-, six-, and 10-year tranches as it looks to \u201cplug\u201d a USD 21 bn funding gap this year. The government <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-09\/saudi-arabia-borrows-12-billion-as-em-nations-load-up-on-bonds\" style=\"\" rel=\"noopener\">sold USD 12 bn<\/a> worth of USD-denominated sovereign bonds in January, marking Saudi\u2019s largest issuance since 2017 when it sold USD 21.5 bn worth of bonds, according to data compiled by Bloomberg. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>The sovereign wealth fund hired Barclays, BNP Paribas, HSBC Holdings and JPMorgan Chase & Co. as joint global coordinators, while BofA Securities, Citigroup, and Deutsche Bank AG were hired as joint active bookrunners. <\/p>\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\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/sukuk\/\">sukuk<\/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=\"86837\" 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=\"86837\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/stc-going-back-to-europe-in-search-of-new-assets\/\">\r\n                            STC could submit an offer for European telecom player United Group                        <\/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\/04\/stc-going-back-to-europe-in-search-of-new-assets\/\" 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\/04\/stc-going-back-to-europe-in-search-of-new-assets\/')\">\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\/04\/stc-going-back-to-europe-in-search-of-new-assets\/\">\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=STC going back to Europe in search of new assets?&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/stc-going-back-to-europe-in-search-of-new-assets\/\">\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\/04\/stc-going-back-to-europe-in-search-of-new-assets\/&title=STC going back to Europe in search of new assets?\">\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=STC+going+back+to+Europe+in+search+of+new+assets%3F+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F04%2Fstc-going-back-to-europe-in-search-of-new-assets%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\/04\/stc-going-back-to-europe-in-search-of-new-assets\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1097.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86838\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/stc-going-back-to-europe-in-search-of-new-assets\/1097-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1097.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1097.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1097.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1097.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86837\" class=\"content-area-description single-story post-86837 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam-ksa tag-ma-watch tag-public-investment-fund-pif tag-united-group 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\/.b00617b9-cbc5-4b84-a8cd-77367451f377.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>STC Group is reportedly mulling submitting an offer for Europe-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/united.group\/\" style=\"\" rel=\"noopener\">United Group<\/a><\/strong>, in a transaction that could value the telecom and pay-TV operator at USD 8.7 bn, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/saudi-telecom-considers-possible-offer-united-group-sources-say-2024-06-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing three people it says are familiar with the matter. The sources did not provide further information on the size or value of the stake STC is looking to acquire.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not set in stone: <\/strong>STC has \u201cstarted early stage work\u201d on a potential transaction, but a formal offer is still not a certainty, one of the sources said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s United Group? <\/strong>The \u201cleading multi-play telecoms and media provider in South East Europe\u201d currently operates in eight countries, according to its <a target=\"_blank\" href=\"https:\/\/united.group\/about\/\" style=\"\" rel=\"noopener\">website<\/a>. The operator was acquired by a UK private equity firm <a target=\"_blank\" href=\"http:\/\/www.bcpartners.com\/\" style=\"\" rel=\"noopener\">BC Partners<\/a> in 2019. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All part of a Europe push: <\/strong>Saudi\u2019s largest telecoms operator, which is 64% owned by the Public Investment Fund, <a target=\"_blank\" href=\"https:\/\/www.stc.com.sa\/content\/stcgroupwebsite\/sa\/en\/media-center\/press-release\/press-release-detail.html?id=stc-group-acquires-9-9-interest-in-telefonica\" style=\"\" rel=\"noopener\">grabbed a 9.9.% stake in Spain\u2019s Telefonica<\/a> last September to telecom giant\u2019s top shareholder, and have also reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2eda0942-e585-4f4b-bf2f-c257e2b4f1d5\/stc-inches-closer-to-acquiring%253cmark%253e-altice%253c%2Fmark%253e-portugal\" style=\"\" rel=\"noopener\">submitted the highest binding offer<\/a> to acquire Altice Portugal, the largest telecom service provider in Portugal. STC subsidiary <a target=\"_blank\" href=\"https:\/\/tawal.com.sa\/\" style=\"\" rel=\"noopener\">Tawal<\/a>, a leading integrated ICT infrastructure company in the MENA region, also <a target=\"_blank\" href=\"https:\/\/tawal.com.sa\/en\/media\/acquisition\" style=\"\" rel=\"noopener\">agreed to buy<\/a> mobile tower infrastructure in Bulgaria, Croatia, and Slovenia worth EUR 1.2 bn from United Group.<\/p>\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\/ma-watch\/\">M&amp;A 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\/united-group\/\">United Group<\/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=\"86839\" 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=\"86839\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/fdi-inflows-tick-up-in-4q-2023\/\">\r\n                            FDI inflows tick up in 4Q 2023                        <\/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\/04\/fdi-inflows-tick-up-in-4q-2023\/\" 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\/04\/fdi-inflows-tick-up-in-4q-2023\/')\">\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\/04\/fdi-inflows-tick-up-in-4q-2023\/\">\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=FDI inflows tick up in 4Q 2023&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/fdi-inflows-tick-up-in-4q-2023\/\">\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\/04\/fdi-inflows-tick-up-in-4q-2023\/&title=FDI inflows tick up in 4Q 2023\">\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=FDI+inflows+tick+up+in+4Q+2023+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F04%2Ffdi-inflows-tick-up-in-4q-2023%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\/04\/fdi-inflows-tick-up-in-4q-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1610.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86840\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/fdi-inflows-tick-up-in-4q-2023\/1610-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1610.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1610.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1610.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1610.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86839\" class=\"content-area-description single-story post-86839 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-economy tag-enterpriseam-ksa tag-foreign-direct-investment tag-investment-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\/.80137d02-c482-48cd-8700-03f0b502cfe2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Net inflows of foreign direct investment into Saudi grew 32% y-o-y in 4Q <\/strong><strong>2023 to SAR 19 bn<\/strong>, according to Saudi Invest\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/294.pdf\" style=\"\" rel=\"noopener\">Economic and Investment Monitor (pdf)<\/a>. FDI inflows hit SAR 72 bn in 2023, growing 12.1% y-o-y, not including Aramco\u2019s SAR 58.1 bn agreement with BlackRock Real Assets and Hassana Investment in February 2022, according to the report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FDI volume is down so far this year:<\/strong> The number of investments in the Kingdom in 1Q 2024 fell 38.5% y-o-y to 64 agreements closed, the report says, citing Investment Ministry data. The quarter saw two fewer agreements closed compared to 4Q 2023, according to the report. <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-03\/saudi-arabia-first-quarter-deal-flow-slumps-to-three-year-low\" style=\"\" rel=\"noopener\">Bloomberg<\/a> took note of the downturn in volume.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The popular sectors:<\/strong> \u201cLooking at economic activities, the distribution of [transactions] shows that innovation and entrepreneurship attracted the most attention from investors in 1Q 2024, with 34 [investments], followed by sports with 12,\u201d the report says. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s doing business in the Kingdom?<\/strong> The US accounted for the lion\u2019s share of FDI inflows in 1Q 2024, with 11 closed transactions, followed by the UK with five investments. The UAE, Egypt, and Singapore each accounted for three transactions, with the remainder of the volume spread across six unspecified countries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Saudi is aiming to reel in USD 100 bn of foreign direct investment per year as part of Vision 2030. So far, it\u2019s missing the mark with an estimated USD 19 bn in 2023 and an average of USD 17 bn from 2017-2022, according to Bloomberg. <\/p>\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\/foreign-direct-investment\/\">foreign direct investment<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86841\" 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=\"86841\">\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\">HEALTHCARE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/burjeel-sets-up-healthcare-jv-in-saudi-with-plans-to-expand-to-mena\/\">\r\n                            Burjeel sets up healthcare JV in Saudi with plans to expand to MENA                        <\/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\/04\/burjeel-sets-up-healthcare-jv-in-saudi-with-plans-to-expand-to-mena\/\" 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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It aims to reach some 30 mn patients over the coming decade and will look at potential expansion to countries beyond Saudi, the UAE, and North Africa, the statement added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ownership breakdown: <\/strong>Burjeel Holdings and Keralty will each hold 50% stakes in the JV. The investments associated with the JV were not disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Burjeel Holdings is the first Emirati company to form a joint venture with a Colombian <\/strong><strong>healthcare institution<\/strong>, which comes after the two countries <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7fe33ad7-2474-409b-b42e-6f605d19bdfa\/uae-and%253cmark%253e-colombia%253c%2Fmark%253e-ink-trade-and-economic-agreement.-plus:-new-eu-gcc-climate-platform-and-bin-zayed-phones-iranian-fm\" style=\"\" rel=\"noopener\">inked<\/a> a comprehensive economic partnership agreement <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Keralty: <\/strong>Keralty is a multinational health organization based in Colombia, with operations in nine countries, including the US, Brazil and Peru. <\/p>\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\/healthcare\/\">healthcare<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86843\" 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=\"86843\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/pifs-sanabil-leads-usd-10-mn-seed-round-for-sifi\/\">\r\n                            Saudi fintech startup SiFi raised USD 10 mn in a seed funding 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\/04\/pifs-sanabil-leads-usd-10-mn-seed-round-for-sifi\/\" 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\/04\/pifs-sanabil-leads-usd-10-mn-seed-round-for-sifi\/')\">\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\/04\/pifs-sanabil-leads-usd-10-mn-seed-round-for-sifi\/\">\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\u2019s Sanabil leads USD 10 mn seed round for SiFi&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/pifs-sanabil-leads-usd-10-mn-seed-round-for-sifi\/\">\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\/04\/pifs-sanabil-leads-usd-10-mn-seed-round-for-sifi\/&title=PIF\u2019s Sanabil leads USD 10 mn seed round for SiFi\">\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%E2%80%99s+Sanabil+leads+USD+10+mn+seed+round+for+SiFi+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F04%2Fpifs-sanabil-leads-usd-10-mn-seed-round-for-sifi%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\/04\/pifs-sanabil-leads-usd-10-mn-seed-round-for-sifi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/249.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86844\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/pifs-sanabil-leads-usd-10-mn-seed-round-for-sifi\/249-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/249.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"249.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/249.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/249.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86843\" class=\"content-area-description single-story post-86843 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam-ksa tag-fintech tag-sanabil-investments tag-simplified-financial-solutions-company-sifi tag-startup-watch tag-startups 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\/.316f2906-0185-44f6-a24f-cebc1c1e5384.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi-based fintech <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sifi.app\/\" style=\"\" rel=\"noopener\">Simplified Financial Solutions Company (SiFi)<\/a><\/strong><strong> raised <\/strong><strong>USD 10 mn in a seed round<\/strong> led by PIF-owned <a target=\"_blank\" href=\"https:\/\/www.sanabil.com\/\" style=\"\" rel=\"noopener\">Sanabil Investments<\/a>, as well as <a target=\"_blank\" href=\"https:\/\/raed.vc\/\" style=\"\" rel=\"noopener\">RAED Ventures<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/06\/sifi-closes-10-million-seed-led-sanabil-investments-raed-ventures\" style=\"\" rel=\"noopener\">press release<\/a>. ANB Seed Fund, Rua Ventures, Byld and KBW Ventures also invested in the round, while Khwarizmi Ventures, Tech Invest Com., and Seedra Ventures were follow-on investors. <\/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> Who owns how much of SiFi and how the transaction was structured. It\u2019s also unclear how much each investor committed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds:<\/strong> \u201cThis funding will enable us to further enhance our offering, deliver even greater value to our customers, and cement our position as the go-to spend management solution in Saudi Arabia,\u201d said founder and CEO Ahmed Alhakbani. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch: <\/strong>Founded in 2021, SiFi runs a suite of finance management tools that it says make it easier for companies to manage their spending, including smart corporate cards, real-time insights into corporate spending, and automated expense-management workflows. Its affiliate, Alhulul Almobassatah Financial Company, received an electronic money institution license from SAMA, allowing it to provide e-wallet services. <\/p>\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\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sanabil-investments\/\">Sanabil Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/simplified-financial-solutions-company-sifi\/\">Simplified Financial Solutions Company (SiFi)<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startups\/\">Startups<\/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=\"86845\" 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=\"86845\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/more-aramco-in-the-foreign-press\/\">\r\n                            More Aramco in the foreign press                        <\/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\/04\/more-aramco-in-the-foreign-press\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n     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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/60.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/60.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86845\" class=\"content-area-description single-story post-86845 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-aramco tag-enterpriseam-ksa 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\/.1ad7e90b-d142-48d7-8d45-128ab59e98c6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On an otherwise slow morning for Saudi in the foreign press, the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.economist.com\/business\/2024\/06\/02\/how-saudi-aramco-plans-to-win-the-oil-endgame\" style=\"\" rel=\"noopener\">Economist<\/a><\/strong><strong> is out with a <\/strong><strong>piece on Aramco\u2019s capacity as \u201cthe linchpin of the Kingdom\u2019s ambitions.\u201d<\/strong> The magazine argues that the state-owned oil giant remains central to Crown Prince Mohammed bin Salman\u2019s efforts to diversify the country\u2019s economy away from oil. <\/p>\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\/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=\"86847\" 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=\"86847\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/cross-listing-etfs-between-tadawul-hkse-could-get-easier\/\">\r\n                            Cross-listing ETFs between Tadawul + HKSE could get easier                        <\/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\/04\/cross-listing-etfs-between-tadawul-hkse-could-get-easier\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n 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href=\"https:\/\/api.whatsapp.com\/send?text=Cross-listing+ETFs+between+Tadawul+%2B+HKSE+could+get+easier+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F04%2Fcross-listing-etfs-between-tadawul-hkse-could-get-easier%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\/04\/cross-listing-etfs-between-tadawul-hkse-could-get-easier\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/284.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86848\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/cross-listing-etfs-between-tadawul-hkse-could-get-easier\/284-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/284.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"284.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/284.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/284.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86847\" class=\"content-area-description single-story post-86847 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-capital-markets tag-enterpriseam-ksa tag-healthcare tag-tadawul 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\/.c23f8c3b-5847-47e7-a73b-424283e32d27.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi and Chinese regulators are looking at ways to facilitate an ETF <\/strong><strong>cross-listing option on Tadawul and the Hong Kong Stock Exchange<\/strong>, Hong Kong\u2019s Securities and Futures Commission said in <a target=\"_blank\" href=\"https:\/\/apps.sfc.hk\/edistributionWeb\/gateway\/EN\/news-and-announcements\/news\/doc?refNo=24PR99\" style=\"\" rel=\"noopener\">a statement<\/a> following a meeting in Riyadh. The commission\u2019s CEO Julia Leung and other officials sat down with Capital Market Authority Chairman Mohammed bin Abdullah Elkuwaiz and Saudi Exchange CEO Mohammed Al Rumaih in two separate meetings. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>This comes on the heels of Tadawul\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/75d0ab8b-54f8-4683-8d6d-6f1142e83b44\/stock%253cmark%253e-market%253c%2Fmark%253e-love-in\" style=\"\" rel=\"noopener\">Hong Kong edition<\/a> of its Capital Market Forum which wrapped up last month. The event was then followed by a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ee93ba14-f14f-4737-b765-42f23fd3fa54\/get-ready-for-an-aviation-heavy-week-with-two-big-global-conferences-in-town\" style=\"\" rel=\"noopener\">five-day trip<\/a> which saw some 30 senior officials from Hong Kong touch base in Riyadh, Abu-Dhabi and Dubai with the purpose of ramping up investments in both directions. <\/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\">TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Riyadh Municipality signed an MoU with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/helicopter.com.sa\/\" style=\"\" rel=\"noopener\">The Helicopter Company<\/a><\/strong><strong> allocating three <\/strong><strong>helicopter landing sites<\/strong> in Diriyah City, Huraymila Governorate, and Ushaiqir City, the municipality <a target=\"_blank\" href=\"https:\/\/x.com\/Amanatalriyadh\/status\/1797262459545198811\" style=\"\" rel=\"noopener\">said on X<\/a>. The Helicopter Company is a PIF-owned commercial chopper operator and had announced its plans to expand its fleet to 65 helicopters by the end of 2024 from a current 49, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/174d0ce9-003c-43ad-9564-c6a42e25effb\/%253cmark%253e%253c%2Fmark%253ekey%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eopec%253cmark%253e%253c%2Fmark%253e%2B%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253edelegates%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eland%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eriyadh%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eas%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253emeeting%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efor%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253epolicy%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253evenue%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253echanges%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ea%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253esecond%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253etime%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">earlier this week<\/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\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pan Gulf Marketing secured shariah-compliant bank facilities worth SAR 70 mn from<\/strong><strong> 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\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC85NTkzL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNTU4\/\" style=\"\" rel=\"noopener\">filing to the exchange<\/a>. The financing carries a one-year tenor. <\/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>Nomu-listed Academy of Learning has locked in a 15-year campus lease with <\/strong><strong>Meraas Al<\/strong><strong> Sharqiya Investment to set up an all-women school in Dammam<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lZBPb4JAEMU_Sw8edQeJQHvb1hQ1_kO0KhezrCOQAEuWRWs_fUFMjK02luxhZ_i9t2-GeGRFvJTto4CpSKQsLuu1Z2w61IB2z4IJ9OZvYIBrG4u5pXXbBlleA9bINsAZU2fSNjtgfwDx_qUHd9oB53060ocwAxuMx_Rw56MPvO9dIxP6bJYJBq92f0h1yzB_AjdG_PHI7xlOwB8hB8QLYuHXC6epr1sB8STuUKJsFbJsh0pl-UsDGnA4HFqBEEGMLS6SBtyShCJXZHVNEhfT07rMu_voa2QpMReF5EhmASqapqJIOSaYqmGUqy5TjDic8RCHuMd4ygIkbjUf2-6jXMi8osi66uTIlZDdrL8918fEF3F9z6TYFlzNjxnWDSVK6_M9K03d6KusNKiNmOThha3-j4vER9n1S6Zq7aRILgasSs2rzLVI2zRPlMJP5Z7Mam5bKqYoI1ElzJLFYgVRv-n5R11PaGLp1-dAn74BouBR6w!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC85NTQxL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNTU2\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The SAR 55.9 mn agreement will cost the school operator an additional annual fee, set to be paid out in increments of SAR 2.9 mn, SAR 3.7 mn and SAR 4.5 mn every five years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the campus:<\/strong> Located in Al-Fursan neighborhood, the new training center will be home to Academy of Learning\u2019s fourth women-only campus in Dammam, with a building capacity to host as many as 2.7k students. <\/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\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shamal Al Riyadh Hospital in Riyadh\u2019s Al Sahafa district will open its doors next Monday,<\/strong><strong> 10 June, <\/strong>according to a disclosure to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MDEzL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNTU0\/\" style=\"\" rel=\"noopener\">Tadawul<\/a>. The hospital is affiliated with Dr. Sulaiman Al Habib Medical Services Group and obtained its final license from the Health Ministry on Sunday. <\/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\">BUSINESS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi Authority for Intellectual Property has inked <\/strong><strong>an MoU<\/strong><strong> with Japan\u2019s <\/strong><strong>Patent Office<\/strong><strong> to cooperate on IP systems<\/strong>, the authority <a target=\"_blank\" href=\"https:\/\/x.com\/SAIPKSA\/status\/1797235693355164108\" style=\"\" rel=\"noopener\">said on X<\/a>. The agreement will see them exchange expertise, consultations and data on IP service provision and enforcement with respect to intellectual property. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi-Japan corridor has been busy<\/strong>, as businesses from both sides have inked <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/97328fc8-9008-4e19-b500-cb7e4e171889\/over-30-mous-signed-at-saudi-%253cmark%253ejapan%253c%2Fmark%253e-vision-2030-business-forum\" style=\"\" rel=\"noopener\">some<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/97328fc8-9008-4e19-b500-cb7e4e171889\/over-30-mous-signed-at-saudi-%253cmark%253ejapan%253c%2Fmark%253e-vision-2030-business-forum\" style=\"\" rel=\"noopener\">30 MoUs<\/a> in energy and manufacturing at the Saudi-Japan Vision 2030 forum in Tokyo last month. The event was set to be attended by Crown Prince and Prime Minister Mohammed Bin Salman before he <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/97e9efde-1f9d-4fc9-9e56-6cde1f4e264d\/washington-signals-a-security-and-nuclear-pact-with-riyadh-is-nearly-over-the-line\" style=\"\" rel=\"noopener\">called off travel plans<\/a> due to the King\u2019s Health. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/healthcare\/\">healthcare<\/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=\"86849\" 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=\"86849\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/turkeys-inflation-hits-75-5-in-what-is-believed-to-be-the-peak-before-a-slowdown\/\">\r\n                            Turkey\u2019s inflation hits 75.5% in what is believed to be the peak before a slowdown                        <\/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\/04\/turkeys-inflation-hits-75-5-in-what-is-believed-to-be-the-peak-before-a-slowdown\/\" target=\"_blank\">\n                    Open in new tab                    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    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/255.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86850\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/turkeys-inflation-hits-75-5-in-what-is-believed-to-be-the-peak-before-a-slowdown\/255-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/255.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"255.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/255.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/255.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86849\" class=\"content-area-description single-story post-86849 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-inflation 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\/.0f3df949-f71f-4f60-a06d-d7b760404d82.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>\u201cThe worst is over\u201d for Turkey\u2019s inflation:<\/strong> Turkey\u2019s annual consumer price inflation rose to 75.5% in May \u2014 according to the <a target=\"_blank\" href=\"https:\/\/data.tuik.gov.tr\/Bulten\/Index?p=Consumer-Price-Index-May-2024-53615&amp;dil=2\" style=\"\" rel=\"noopener\">Turkish Statistical Institute<\/a> \u2014 in what economists expect to be the peak of a years-long cost-of-living crisis before prices start to cool. \u201cThe worst is over,\u201d Finance Minister Mehmet Simsek <a target=\"_blank\" href=\"https:\/\/twitter.com\/memetsimsek\/status\/1797527672806858919\" style=\"\" rel=\"noopener\">said on X<\/a>. \u201cThe transition period in the fight against inflation is complete and we are entering the disinflation process,\u201d he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In detail:<\/strong> Headline inflation in May \u2014 which was up by 5.7 percentage points from <a target=\"_blank\" href=\"https:\/\/data.tuik.gov.tr\/Bulten\/Index?p=Consumer-Price-Index-April-2024-53614\" style=\"\" rel=\"noopener\">a month<\/a><a target=\"_blank\" href=\"https:\/\/data.tuik.gov.tr\/Bulten\/Index?p=Consumer-Price-Index-April-2024-53614\" style=\"\" rel=\"noopener\">earlier<\/a> \u2014 was driven primarily by steep annual price rises in education, housing, and restaurants. Monthly inflation climbed to 3.4% in May, up from 3.2% in April.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite the jubilant tone, inflation still came in higher than expected: <\/strong>A <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/turkish-annual-inflation-rises-7545-may-2024-06-03\/\" style=\"\" rel=\"noopener\">Reuters poll<\/a> saw annual inflation peaking at 74.8% in May and monthly inflation registering 2.7-3.3%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So where is inflation headed from here? <\/strong>Annual inflation will likely drop below 50% by the end of 3Q 2024, hit 33.2% in 12 months, and 21.3% in 24 months, Simsek said. Analysts polled by Reuters expect annual inflation to drop to 42.6% by the end of 2024. <\/p>\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Most Asian markets have started the day in the red, with only Hong Kong\u2019s Hang Seng bucking the trend. <\/strong>There\u2019s no clear trigger for the dip, which sees the Nikkei leading decliners at dispatch time this morning (-0.7%). Futures for major European benchmarks dipped overnight, while Nasdaq, Dow, and S&amp;P 500 futures were largely unchanged. <\/p>\n<p><a target=\"_blank\" id=\"t.fe2fa5cd2cfdacff178164760e0b24b8286f9372\" 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-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>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\">11,808<\/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\">+1.6% (YTD: -1.3%)<\/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>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\">1,477<\/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\">+1.5% (YTD: -4.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-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\">26,563<\/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: +8.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-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\">6.5% 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\">26,834<\/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\">-0.1% (YTD: +7.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-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\">8,918<\/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: -6.9%)<\/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>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\">3,993<\/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\">+0.4% (YTD: -1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-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\">5,283<\/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\">+0.1% (YTD: +10.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-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\">8,263<\/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: +6.9%)<\/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>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\">5,004<\/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\">+0.4% (YTD: +10.7%)<\/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 78.36<\/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\">-3.4%<\/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>Natural gas (Nymex) <\/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 2.77<\/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\">+0.4%<\/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>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 2,371<\/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\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-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>BTC<\/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 69,090<\/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\">+1.9% (YTD: +63.0%)<\/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 <\/strong>rose 1.6% <strong>yesterday <\/strong>on turnover of SAR 7.9 bn. The index is down 1.3% 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> SRMG (+10%), Atheeb Telecom (+7.1%) and Jazira Takaful (+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>Spimaco (-3.8%), Astra Industrial (-3.4%) and Acwa Power (-3.1%).<\/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> rose 1.7% <strong>yesterday <\/strong>on turnover of SAR 47 mn. The index is up 8.3% 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> Academy of Learning (+14.1%), Future Care (+10.7%) and Bena (+5.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Knowledgenet (-5.7%), Banan (-4.8%) and Pan Gulf (-4.3%)<\/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>Salama Cooperative Ins. has lined up Ins. Authority approval for a 50% capital <\/strong><strong>hike to <\/strong><strong>SAR 300 mn by way of rights issue<\/strong> to meet the authority\u2019s minimum capital requirements, it said in two separate regulatory filings to Tadawul, <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC84MDUwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwNTYw\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lZLRToMwFIafZRdcmnOAtGXe1Rk7liFDQKE3S9nIJIFCTKeZTy-RK6Zs2rs235__fCcFCRlIrd6rgzJVq1Xd33NJt4RTdJYehrhMFkgxFjRNPPved-FlDHiBoBg98ih0GEHxjCD_lcd4QzB62ATuGp9QIP1bHicOv9qf93k2DdgQgwRZnOJTU7Q15B4SHF641u1R78qm1AZyu59EjstCPme9y-pO-GvuepSdA78s62zcn9v4Bi7pXhR2KMTq7Yp0RAfpXdt0So_NVyAPdVsMP-PVmO7WQguN2quPY2319UrrhTKQ2dOAv4eMeYwR6Jo0zT6Tspj7lX8jmm1gSM5nsy8vlGxc\/dz\/d5\/L0lHSkovd0RNQU5rQUVnQSEhLzROVkUvZW4!\/\" 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>Shareholders of Budget Saudi will vote on Monday, 23 June, on a capital increase that <\/strong><strong>will help pay for <\/strong><strong>the full acquisition of AutoWorld<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWhEQ3WFUjI-IEgPOxgw6jiQwQ3CU-PeOutL46q7tubc3BQIJEEHPGacqk4Lmul8Td-P4LlojD-fB0BrgYtjpLfqDoIkTG-JnAKPQ0UA4a01xiQG6QP7R44fy8beefEWC9ivwJuId-JJhDITnMn38wxdpy-NAKrZnFavMU6XHB6XKY9dAA-u6NrmUPGfmVhYGvpMc5FFB8kzeuJvL3UTRHa1PuVYTvSqpuESXIpX6kG25CBETUBarBLOwiD3lpLbfuAJU7Uf_\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDU2MS9jb21wYW55U3ltYm9sLzQyNjAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The BoD had recommended a 9.8% capital increase by way of issuing new shares to finance the company\u2019s takeover of AutoWorld, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lZFPT4NAEMU_Sw-cZwrdP3pb27ilaaVIsbAXs9gEMctCzKrh27vqqVWaOrdJfm_eexlQUICy-r2ptWs6q43fS0UfiaAYLjkmuNzNkWImab7j00Ucwf4Y4BtJMb0TaRIygvIBQf1Lj9mWYHq73URrvEeJ9DI9joy4wF8dI4m4Yj7B6kbGaxFxyk6BPyqemPzu8A2cC3k2Zkgh069Q-qpsFEo99HXnqWt7bYdsaKvOQDkLKcIKVG266uefz8711wEG6PRBf7yZwNtra-faQTEdB-IDFBwJYdC3eV5gE7_MdMWHyNRiMvkE_wNS5g!!\/dz\/d5\/L0lHSkovd0RNQUZrQUVnQSEhLzROVkUvZW4!\/\" style=\"\" rel=\"noopener\">an earlier filing to the exchange<\/a>.<\/p>\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\/inflation\/\">Inflation<\/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=\"86851\" 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\/04\/86851\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86851\" class=\"content-area-description single-story post-86851 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>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 (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;\">1 December (Sunday): Opec+ to meet<\/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\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>GBP debt for PIF? London + US roadshows for Aramco | STC wants more of Europe | FDI inflows up in 4Q 2023 | More (Nomu) IPOs incoming<\/p>\n","protected":false},"featured_media":86831,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-86830","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"c8257bf6-7a3d-471c-846b-281ead2af974","teaser":"GBP debt for PIF? 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