{"id":87185,"date":"2024-06-23T00:00:00","date_gmt":"2024-06-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=87185"},"modified":"2025-12-14T18:22:32","modified_gmt":"2025-12-14T18:22:32","slug":"and-were-back","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/and-were-back\/","title":{"rendered":"\u2026and we\u2019re back!"},"content":{"rendered":"<section id=\"87187\" 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=\"87187\">\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\/23\/rasan-and-talco-see-shares-rise-sharply-in-tadawul-debut\/\">\r\n                            THIS MORNING: Rasan and Talco see shares rise sharply in Tadawul debut                        <\/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\/23\/rasan-and-talco-see-shares-rise-sharply-in-tadawul-debut\/\" 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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Shares of fintech player Rasan and aluminum <\/strong><strong>products maker Talco popped in their first day of trading <\/strong>the Thursday before last. Rasan shares rose 30% (the most permitted for debuts) on day one, while Talco closed up 14%. That tracks with Miahona (also up 30% in their debut in early June) and Saudi Manpower (+21% in their Wednesday debut). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As for the pipeline? There\u2019s lots more where that came from: <\/strong><\/p>\n<ul>\n<li>Hotels and resorts operator <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c8620363-c996-408b-8d01-914668fdbb63\" style=\"\" rel=\"noopener\">Boudl<\/a><\/strong> has filed to go public;<\/li>\n<li>Electronics retailer Extra plans to IPO the unit that owns and operates <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b0baadd8-46d4-4499-bd0b-9eaec84bcfef\/\" style=\"\" rel=\"noopener\">Tasheel<\/a><\/strong>, its consumer finance arm, with many in the market expecting the transaction will now come in fall;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9da021c4-8337-47f8-b4f7-7e13f94d0e7e\" style=\"\" rel=\"noopener\">Fourth Milling Company<\/a><\/strong> will list before the end of June;<\/li>\n<li>Singapore\u2019s <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/927c9005-50b0-4a1f-b4e5-599628a82d8b\" style=\"\" rel=\"noopener\">Olam Group<\/a><\/strong> is mulling the IPO of its Olam Agri subsidiary on Tadawul;<\/li>\n<li>Hypermarket operator <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/eaeb2656-fa3e-4e48-8d21-772adfd9470f\" style=\"\" rel=\"noopener\">Lulu<\/a><\/strong> is said to be eyeing a dual listing on Tadawul and ADX;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/78df2631-68ae-4b15-86cd-59bab3c278b7\" style=\"\" rel=\"noopener\">Aster DM Healthcare<\/a><\/strong> looks set to spin off its GCC assets and seek a dual listing on Tadawul and in the UAE;<\/li>\n<li>Perfume maker <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/acfb93b7-3303-41eb-ab39-7e6ef6f8bebc\/\" style=\"\" rel=\"noopener\">Arabian Oud<\/a><\/strong> is said to have appointed bankers ahead of a share sale;<\/li>\n<li>PIF-backed lender Riyad Bank is considering the listing of its investment banking arm <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/291a8d44-0629-42f6-ae3b-2f9c2eb7bcbd\" style=\"\" rel=\"noopener\">Riyad Capital<\/a><\/strong>;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1c55c7a4-ce77-4a0c-a7bd-1ad23a8256e0\" style=\"\" rel=\"noopener\">Nupco<\/a><\/strong> \u2014 a unit of the PIF \u2014 has reportedly tapped Rothschild &amp; Co as financial advisor for its potential Tadawul IPO;<\/li>\n<li>Budget airline <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e299d7ad-c3f0-4533-bc3f-4dfb58ab2eb4\/\" style=\"\" rel=\"noopener\">Flynas<\/a><\/strong> is reportedly looking to go public this year.<\/li>\n<\/ul>\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>WHAT ELSE was happening before the break? <\/strong><\/p>\n<ul>\n<li><strong>New shares of Aramco <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/a47a5f70-5d73-40e1-8bc6-720ba21ed189\/\" style=\"\" rel=\"noopener\">started trading<\/a><\/strong><strong>. <\/strong>The <a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/11b8a541-a6d0-44d9-a177-9ef29b4f41c8\/aramco-raises-usd-11.2-bn-in-follow-on-offering\" style=\"\" rel=\"noopener\">USD 11.2 bn offering<\/a> attracted heavy interest from foreign institutional investors. The oil giant\u2019s shares <a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/d674c818-d50d-4e1b-9794-d8fb0a8bb3ef\/aramco-shares-rise-after-follow-on-offering\" style=\"\" rel=\"noopener\">rose 1.1%<\/a> in their first day of trading after the issuance. <\/li>\n<li><strong>Foreign investors in Saudi debt could be <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e963a69c-56af-41ad-a3ac-811d670c649e\/\" style=\"\" rel=\"noopener\">exempted<\/a><\/strong> from the 5% withholding tax on coupon payments under regulations now on the drawing board;<\/li>\n<li><strong>PIF\u2019s love affair with sports continues. <\/strong>The sovereign wealth fund is looking to set up a boxing league and is still in talks on a PGA \/ Liv Golf merger. <\/li>\n<\/ul>\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=\"wwtt2\"><\/a>  <strong>#1- One step closer to a Saudi-US nuclear agreement? <\/strong>Members of the US Congress have been briefed on a proposed Saudi-US nuclear agreement that is part of what officials hope will be a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/538fa1db-058f-44d5-bcdb-d9ed1a99cf6b\" style=\"\" rel=\"noopener\">landmark series of agreements<\/a> between Riyadh and Washington, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-14\/us-saudi-nuclear-deal-near-congress-briefed-on-details\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Sen. Jeff Merkley (Democrat, Oregon) told Bloomberg that the Senate Foreign Relations Committee received a classified briefing on the agreement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A shift of tactics? <\/strong>The Senate Foreign Relations Committee Chairman Senator Ben Cardin (Democrat, Maryland) said he has ordered staff to revisit limits that were enforced on arms sales to the Kingdom, signaling warming ties between the two countries, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-13\/arms-sales-to-saudi-arabia-being-reviewed-as-security-deal-nears\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported separately. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The nuclear pact is part of a series of agreements that Saudi and US officials hope will open a new chapter in relations. It would also include a defense pact and a third agreement that will see Saudi give preference to US and Western advanced and AI technologies over Chinese rivals. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In other US-Saudi diplomatic news:<\/strong> Foreign Minister Faisal Bin Farhan and US Secretary of State Antony Blinken discussed the ongoing war in Gaza, as well as the situations in Yemen and Sudan, the ministry said in a <a target=\"_blank\" href=\"https:\/\/x.com\/KSAMOFA\/status\/1802778675311419618\" style=\"\" rel=\"noopener\">post on X<\/a>. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- <\/strong><strong>Industry and Mineral Resources Minister Bandar Alkhorayef is set to touch down in <\/strong><strong>Chile <\/strong><strong>\u2014 the world\u2019s second-largest lithium producer \u2014 next month<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/chile-says-saudi-mining-minister-visit-lithium-expected-agenda-2024-06-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing a Chilean government source. Alkhorayef is looking into the possibility of sourcing lithium, a key component for EV and battery storage production. No date for the meeting has yet been set.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> Lithium is a critical component of both modern consumer electronics and the green transition, factoring into everything from rechargeable batteries for phones and computers to electric vehicles and grid storage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Saudi is looking to source lithium from overseas:<\/strong> Al Khorayef <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a2fddbf3-6f07-42c5-a909-bf47af342a97\" style=\"\" rel=\"noopener\">said in April<\/a> that Saudi will continue to source lithium from abroad as part of its plans for the nascent EV sector as securing domestic supplies were still at an early stage. \u201cLithium is a very important mineral that happens to be part of a very important part of the supply chain, especially for batteries,\u201d he said. <\/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>#3- The subscription period for the fifth round of the retail sukuk saving program Sah <\/strong><strong>begins <\/strong><strong>today<\/strong>, the National Debt Management Center (NDMC) said in a <a target=\"_blank\" href=\"https:\/\/x.com\/GovSukuk\/status\/1804529779917361606\" style=\"\" rel=\"noopener\">post on X<\/a>. The instruments carry a fixed yield of 5.55%. The minimum subscription amount for the June issuance was set at SAR 1k, while the maximum is SAR 200k per investor for the total duration of the program. The deadline for subscriptions is this Tuesday, 25 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The Finance Ministry and NDMC launched the shariah-compliant retail saving instrument in a bid to diversify the nation\u2019s savings offerings. The program features monthly issuances that carry annual fixed yields varying in value from month to month depending on market conditions. Every issuance matures in 12 months and has no subscription fee.<\/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>#4- <\/strong><strong>Riyadh-based healthcare player Jana Medical landed Capital Market <\/strong><strong>Authority <\/strong><strong>approval for an IPO on Tadawul\u2019s parallel market, Nomu<\/strong>, <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3581.aspx\" style=\"\" rel=\"noopener\">the authority said in a statement<\/a>. The company is taking a 20% stake (642.5k shares) to market in an offering limited to qualified investors. The CMA\u2019s approval of the offering will be valid for six months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Jana Medical: <\/strong>Founded in 2014, Jana Medical manufactures, imports, and supplies medical equipment across the country. Its clientele includes Saudi German Health, Al Hammadi Hospital, King Abdullah Medical Complex, and Dr Sulaiman Al Habib, according to its <a target=\"_blank\" href=\"https:\/\/www.janamd.com.sa\/about-us\/\" style=\"\" rel=\"noopener\">website<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Local healthcare companies are on a roll: <\/strong>Fakeeh Care took a 21.5% stake to market <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f20466e7-fb45-4235-8cfd-2d27b3b9e797\" style=\"\" rel=\"noopener\">earlier this month<\/a> through an offering of both new and existing shares. Al Hammadi (2015) and Saudi German Healthcare (2016) led the way with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a19c1059-f5ee-49d2-94a6-00b3bac9c60b\/fakeeh-care-ipo-looks-set-to-be-saudi%25e2%2580%2599s-largest-listing-so-far-this-year\" style=\"\" rel=\"noopener\">high-profile IPOs<\/a>, with Dr Sulaiman Al Habib, pharma group Al Nahdi Medical, and drugmakers Jamjoom Pharma and Avalon Pharma all having followed suit. Aster DM Healthcare, meanwhile, is said to be looking to spin off its GCC unit with a dual listing on Tadawul and the Dubai Financial Market.<\/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>#5- Over 100 people were briefly admitted to a public hospital in Jazan over suspected <\/strong><strong>food poisoning linked to two unnamed fast food restaurants in the city<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/sabq.org\/saudia\/pvyie0w0ik\" style=\"\" rel=\"noopener\">local media<\/a>. The restaurants were temporarily shut down for investigations related to the suspected outbreak.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Strict measures on food safety:<\/strong> Officials <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7ae31205-58ed-4cfb-84e8-0e9deb8bd7af\" style=\"\" rel=\"noopener\">ordered in May<\/a> the recall of Bon Tum mayonnaise after it traced food poisoning outbreak to the condiment brand, which was being used by Hamburgini. Analysis by the Saudi Food and Drug Authority identified clostridium botulinum bacteria in the mayo used by the local burger chain. One person <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4f8c0a4d-68ec-47a3-b22d-411374abe3a6\" style=\"\" rel=\"noopener\">reportedly died<\/a> of food poisoning and more than 70 were made sick, with a number of them sent to the intensive care unit.<\/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- North of 1.8 mn pilgrims took part in this year\u2019s hajj<\/strong>, according data from <a target=\"_blank\" href=\"https:\/\/x.com\/FahadAAldossari\/status\/1803261777435877793\" style=\"\" rel=\"noopener\">state<\/a><a target=\"_blank\" href=\"https:\/\/x.com\/FahadAAldossari\/status\/1803261777435877793\" style=\"\" rel=\"noopener\">statistics agency Gastat<\/a>. Some 1.6 mn were foreign pilgrims, while the remaining were citizens and residents. The majority of foreign pilgrims were from Asia, while Arab pilgrims accounted for 22.3% of total pilgrims, followed by folks arriving from Africa (11.3%). The number of pilgrims this season was similar to 2023 levels. This is still below pre-pandemic levels, which saw over 2.4 mn people performing hajj in 2019.<\/p>\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 holding of US Treasuries rose 19.5% y-o-y to USD 135.4 bn <\/strong><strong>in April<\/strong>, making it the 17th-largest foreign holder of US Treasuries, according to <a target=\"_blank\" href=\"https:\/\/ticdata.treasury.gov\/resource-center\/data-chart-center\/tic\/Documents\/slt_table5.html\" style=\"\" rel=\"noopener\">data from the US Treasury Department<\/a>. On a monthly basis, Saudi holdings of US Treasuries inched down 0.37%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>The total number of women holding leadership positions in the Kingdom\u2019s labor <\/strong><strong>market hit<\/strong><strong> 1.7k in<\/strong><strong> 2023<\/strong>, surpassing Vision 2030\u2019s initial target of 1k women leaders, <a target=\"_blank\" href=\"https:\/\/www.saudigazette.com.sa\/article\/643763\/SAUDI-ARABIA\/1707-Saudi-women-hold-key-posts-in-employment-market\" style=\"\" rel=\"noopener\">Saudi Gazette<\/a> reported, citing a recent report from the Human Resources and Social Development Ministry. <\/p>\n<p class=\"tag-border-left\">PUBLIC SERVICE ANNOUNCEMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Umrah visas are back on: <\/strong>The Hajj and Umrah Ministry has resumed its issuance of umrah visas for pilgrims, ending a near one-month hiatus due to the Hajj season, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2125862\" style=\"\" rel=\"noopener\">state news agency SPA reports<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AI to make Umrah-related travel easier:<\/strong> The Saudi Data and Artificial Intelligence Authority (SDAIA) is setting up new tech-enabled operational centers and data systems to facilitate pilgrims\u2019 entry into the Kingdom post-Hajj season, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/ar\/w2126239\" style=\"\" rel=\"noopener\">SPA<\/a>. The operational centers \u2014 which are being set up at key entry points across the Kingdom \u2014 are equipped with biometric registration stations, communication systems, and data rooms. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- Preparations for next year\u2019s Hajj have begun:<\/strong> The ministry released \u201cpreliminary arrangements and timetable\u201d for next year\u2019s hajj season at this year\u2019s closing ceremony, it said in <a target=\"_blank\" href=\"https:\/\/x.com\/MoHU_En\/status\/1803400933117694219\" style=\"\" rel=\"noopener\">a separate statement<\/a>. No further details were provided.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Education Ministry will continue to apply the three-term system for the upcoming <\/strong><strong>academic year<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.okaz.com.sa\/news\/local\/2164466\" style=\"\" rel=\"noopener\">Okaz<\/a> reported. The school year starts on Sunday, 18 August and will run until Thursday, 26 June 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- You can still apply for the<\/strong><strong> Zakat, Tax and Customs <\/strong><strong>Authority\u2019s<\/strong><strong> (Zatca) fresh graduate <\/strong><strong>programs Ameen and Binaa-Alkafaat until Saturday, 29 June<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1249.aspx\" style=\"\" rel=\"noopener\">statement by Zatca<\/a>. The one-year programs are designed to train bachelor\u2019s and master\u2019s degree holders in the fields of zakat, tax, and customs regulations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To make the cut: <\/strong>Applicants looking to join the Ameen program must hold a bachelor\u2019s degree and be 25 years old or less, with a minimum GPA of 2.8, while those seeking the Binaa-Alkafaat program must either hold a bachelor\u2019s or master\u2019s degree and be under 28. They should also have a minimum GPA of 3.2. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Zatca is encouraging individuals to make their voluntary zakat payments through its designated <a target=\"_blank\" href=\"https:\/\/zakaty.gov.sa\/\" style=\"\" rel=\"noopener\">Zakaty website<\/a> or mobile application, according to a <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1250.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. The Zakaty platform allows zakat payers to calculate different types of zakat, issue invoices, set reminders for zakat dates, among others. <\/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>#4- Property owners in six neighborhoods in Madinah can register assets starting next <\/strong><strong>Sunday, 30 June through Thursday, 3 October<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/rega.gov.sa\/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2-%D8%A7%D9%84%D8%A7%D8%B9%D9%84%D8%A7%D9%85%D9%8A\/%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/%D8%A7%D9%84%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%A9-%D9%84%D9%84%D8%B9%D9%82%D8%A7%D8%B1-%D8%AA-%D8%B9%D9%84%D9%86-%D8%B9%D9%86-%D8%A8%D8%AF%D8%A1-%D8%A7%D9%84%D8%AA%D8%B3%D8%AC%D9%8A%D9%84-%D9%81%D9%8A-6-%D8%A3%D8%AD%D9%8A%D8%A7%D8%A1-%D8%A8%D8%A7%D9%84%D9%85%D8%AF%D9%8A%D9%86%D8%A9-%D8%A7%D9%84%D9%85%D9%86%D9%88%D8%B1%D8%A9-%D8%A7%D8%A8%D8%AA%D8%AF%D8%A7%D8%A1-%D9%85%D9%86-24-%D8%B0%D9%88-%D8%A7%D9%84%D8%AD%D8%AC%D8%A9\/?page=1&amp;search=&amp;sort=\" style=\"\" rel=\"noopener\">statement<\/a> from the Real Estate General Authority. The neighborhoods to be included in the <a target=\"_blank\" href=\"https:\/\/rer.sa\/en\/\" style=\"\" rel=\"noopener\">real estate registry (RER)<\/a> include parts of King Fahd, Al Aqool, Jamaa Um Khalid, Al Khadra, Abyar Al Mashi and Skat Al Hadid. The RER is wholly owned by the Public Investment Fund and aims to establish a real estate registry across the Kingdom to make it easier for individuals and corporations to know who has a clear title to a property when buying or selling.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- <\/strong><strong>WEATHER- We\u2019re looking at yet another hot and sunny day in Riyadh today<\/strong>, with a daytime high of 47\u00b0C and a nighttime low of 30\u00b0C. In Makkah, the mercury will peak at 45\u00b0C during the day before dropping to a low of 31\u00b0C at night. Madinah will see the temperature peaking at 45\u00b0C and falling to 30\u00b0C in the evening. <\/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>The Kingdom\u2019s crude production rose <\/strong><strong>1.6% m-o-m<\/strong><strong> in April to <\/strong><strong>9 mn<\/strong><strong> barrels per day (bbl \/ <\/strong><strong>d)<\/strong>, according to data <a target=\"_blank\" href=\"https:\/\/www.jodidata.org\/oil\/database\/customisable-charts.aspx#cdSaudiArabia\" style=\"\" rel=\"noopener\">Joint Organisations Data Initiative (Jodi)<\/a> data. Crude exports dipped 6.9% during the same period to 6 mn bbl \/ d on the back of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/23b2bb82-242d-42f7-a587-6812413add07\" style=\"\" rel=\"noopener\">voluntary oil output curbs<\/a> kept in place by Saudi and Opec+ until the end of September. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The group of oil producers <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b3936f58-1f4b-4298-b83d-ca2915973d42\" style=\"\" rel=\"noopener\">is expected to<\/a> begin to \u201cphase out the cuts of 2.2 mn bbl \/ d over the course of a year from October 2024 to September 2025.\u201d The group is scheduled to meet again on Sunday, 1 December. The Kingdom plans to ramp up oil production to 9.1 mn bbl \/ d in November and then just above 9.2 mn bpd in December, according to <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4304515\/%D8%A7%D9%86%D8%AE%D9%81%D8%A7%D8%B6-%D8%B5%D8%A7%D8%AF%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D8%A5%D9%84%D9%89-6-%D9%85%D9%84%D8%A7%D9%8A%D9%8A%D9%86-%D8%A8%D8%B1%D9%85%D9%8A%D9%84-%D9%8A%D9%88%D9%85%D9%8A%D8%A7-%D9%81%D9%8A-%D8%A3%D8%A8%D8%B1%D9%8A%D9%84\/\" style=\"\" rel=\"noopener\">Mubasher<\/a>. Production is expected to further rise in early 2025, before reaching c.10 mn bpd between September and December of next year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- The Kingdom\u2019s crude oil deliveries to India hit a 10-month low in May<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/indias-may-oil-imports-russia-record-high-saudi-lowest-10-mth-2024-06-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported, citing traders and shipping data. The drop was largely attributed to Aramco <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/291a8d44-0629-42f6-ae3b-2f9c2eb7bcbd\" style=\"\" rel=\"noopener\">raising the official selling price<\/a> of its flagship Arab Light crude oil to Asian buyers for a second month in May. The Kingdom remains among India\u2019s top three oil suppliers, after Iraq and Russia.<\/p>\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Saudi Pro League is looking to snag some big names in the summer transfer <\/strong><strong>window:<\/strong> Real Madrid captain Nacho Fernandez is reportedly in talks to transfer to Al Qadsiah after his current contract expires at the end of June, according to <a target=\"_blank\" href=\"https:\/\/www.lequipe.fr\/Football\/Actualites\/Nacho-fernandez-finalement-a-al-qadsiah\/1476130\" style=\"\" rel=\"noopener\">L\u2019Equipe<\/a>. News of Fernandez\u2019s potential move to Al Qadsiah comes a week after separate reports, including from the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/athletic\/5429644\/2024\/06\/13\/nacho-real-madrid-saudi-transfer\/\" style=\"\" rel=\"noopener\">New York Times<\/a>, indicated the footballer was in talks to move to Al Ittihad. Real Madrid striker Joselu has also reportedly fielded \u201csignificant offers\u201d from Saudi clubs, but plans on staying at Real Madrid, <a target=\"_blank\" href=\"https:\/\/madriduniversal.com\/real-madrid-veteran-wants-to-stay-at-club-despite-lucrative-saudi-arabia-offer\/\" style=\"\" rel=\"noopener\">Madrid Universal<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FROM THE PREMIER LEAGUE-<\/strong> Manchester City goalkeeper Ederson has been \u201cstrongly linked with a move to Saudi Arabia\u201d since last month, <a target=\"_blank\" href=\"https:\/\/www.sportsmole.co.uk\/football\/arsenal\/transfer-talk\/feature\/five-premier-league-stars-who-could-move-to-saudi-arabia-this-summer_546355.html?t=123987456&amp;s=zero\" style=\"\" rel=\"noopener\">Sports Mole<\/a> reports. The club \u2014 which could also see <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/39ce45dd-e610-40e9-a4ee-c17cca6557ed\/fakeeh-group-debuts-on-tadawul-today\" style=\"\" rel=\"noopener\">Kevin de Bruyne departing for Saudi<\/a> \u2014 set Ederson\u2019s price at EUR 40 mn. Meanwhile, Chelsea\u2019s Romelu Lukaku is <a target=\"_blank\" href=\"https:\/\/www.sportsmole.co.uk\/football\/arsenal\/transfer-talk\/feature\/five-premier-league-stars-who-could-move-to-saudi-arabia-this-summer_546355.html?t=123987456&amp;s=zero\" style=\"\" rel=\"noopener\">considering Al Hilal<\/a>, though their interest in the striker is unclear. <\/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>#<\/strong><strong>2- More signs of life from the LIV Golf-PGA merger:<\/strong> The outlook for discussions between the PGA Tour and PIF-backed LIV Golf is \u201cvery positive,\u201d with \u201cthe right people around the table\u201d on both sides of the negotiations, PGA Tour Commissioner Jay Monahan told <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/pga-tour-liv-golf-saudi-negotiations-fe836488d2cbff7191579ad22a18837a\" style=\"\" rel=\"noopener\">the Associated Press<\/a> on Thursday. The challenges in finalizing a potential agreement are merely hurdles to \u201covercome\u201d with \u201ca lot of different factors at play,\u201d Monahan said. Monahan\u2019s remarks come days after golf star Tiger Woods <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e963a69c-56af-41ad-a3ac-811d670c649e\/rasan-%2B-talco-are-ringing-the-opening-bell-on-tadawul-today\" style=\"\" rel=\"noopener\">said he felt optimistic<\/a> about the agreement following an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/481cb799-5afc-48c7-b7ff-65352b1d27ca\" style=\"\" rel=\"noopener\">in-person meeting<\/a> in New York with PIF boss Yasir Al Rumayyan and PGA\u2019s negotiating committee. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to subscribe? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday before 7am Riyadh time \u2014 without charge, thanks to our friends at Cenomi.<br \/><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You can practically hear the bears salivating: <\/strong>The S&amp;P 500 has now gone 377 days straight without a 2% sell-off as investors buy up big tech stocks, fueled by an AI boom that saw Nvidia overtake Apple and Microsoft as <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/06\/22\/nvidia-is-little-known-despite-topping-3-trillion-in-market-cap.html\" style=\"\" rel=\"noopener\">the world\u2019s most valuable company<\/a> last week. CNBC <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/06\/21\/stocks-are-in-their-longest-stretch-without-a-2percent-sell-off-since-the-financial-crisis.html\" style=\"\" rel=\"noopener\">warns<\/a> that \u201cit\u2019s unclear how long this low-volatility period will last\u201d \u2014 it\u2019s the longest stretch of its kind since the global financial crisis of 2007, leaving bears wondering what the catalyst for a selloff could look like. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of AI: Pundits are starting to ask whether the world\u2019s electricity grids can <\/strong><strong>handle the explosion of demand from both businesses and consumers. <\/strong>Forget, for a moment, whether AI is a feature, a core technology, or marketable product and toss aside the environmental impact of AI: Our collective hunger to play with ChatGPT, Bard, and the <a target=\"_blank\" href=\"https:\/\/www.wired.com\/story\/perplexity-is-a-bullshit-machine\/\" style=\"\" rel=\"noopener\">theft engine that is Perplexity<\/a> has massive implications for power grids that are already being tested by the hottest summer on record. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Governments may need to selectively hike prices for power-hungry data centers <\/strong>and may have to reconsider climate targets. Consider Ireland, where data centers are on track to account for a third of the country\u2019s energy use by 2026. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Go deeper<\/strong> with Bloomberg\u2019s immersive and very well-reported <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/graphics\/2024-ai-data-centers-power-grids\/\" style=\"\" rel=\"noopener\">AI is already wreaking havoc on<\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/graphics\/2024-ai-data-centers-power-grids\/\" style=\"\" rel=\"noopener\">global power systems<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN OUR CORNER OF THE WORLD- Israel has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-strikes-kill-least-42-gaza-enclaves-government-media-office-says-2024-06-22\/\" style=\"\" rel=\"noopener\">killed<\/a><\/strong><strong> at least 42 in a strike in Gaza<\/strong> and the IDF is also coming under intense criticism for <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cjqq5n8911do\" style=\"\" rel=\"noopener\">strapping<\/a> a wounded Palestinian to the front of an army jeep during a raid in the West Bank. With ceasefire talks at a standstill, the WSJ <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/america-is-running-out-of-options-in-the-gaza-war-4d66b989?mod=hp_lead_pos3\" style=\"\" rel=\"noopener\">argues<\/a> that America is running out of options to push through an end to the eight month-long conflict.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IT\u2019S A HUGE WEEK IN THE US OF A:<\/strong> The international press on both sides of the Atlantic are <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/biden-vs-trump-will-the-first-2024-debate-jolt-the-race-9edc9419?mod=hp_lead_pos2\" style=\"\" rel=\"noopener\">gearing up<\/a> for the first debate of the 2024 election cycle between Joe Biden and Donald Trump on Thursday that could influence what\u2019s looking to be a very tight election.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div 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     \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/pif-is-getting-more-of-heathrow-airport\/\">\r\n                            PIF + Ardian to grab 37.6% stake of Heathrow Airport                        <\/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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data-attachment-id=\"87191\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/pif-is-getting-more-of-heathrow-airport\/1341-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1341.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1341.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1341.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1341.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87190\" class=\"content-area-description single-story post-87190 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-aviation tag-enterpriseam-ksa tag-heathrow-airport tag-infrastructure tag-investment-watch tag-ma-watch tag-public-investment-fund-pif 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\/.10ec5e58-4142-436d-940b-3629e7087665.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A revised play for Heathrow: <\/strong>The Public Investment Fund (PIF) and Paris-based equity firm Ardian have reached a revised agreement with Spanish infrastructure company Ferrovial for the acquisition of part of its stake in London\u2019s Heathrow Airport, according to statements from Ferrovial and Ardian (<a target=\"_blank\" href=\"https:\/\/newsroom.ferrovial.com\/en\/press_releases\/communication-about-the-sale-process-of-heathrows-shares\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.ardian.com\/news-insights\/press-releases\/ardian-enters-revised-agreement-ferrovial-acquire-226-stake-heathrow\" style=\"\" rel=\"noopener\">here<\/a>). The revised agreement will see the PIF and Ardian acquire a 37.6% stake in the airport for GBP 3.3 bn (c.USD 4.1 bn).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>Ferrovial has been looking in the past months to divest its entire stake in FGP Topco, the airport\u2019s parent company. Under the revised agreement, the PIF will acquire a 15% stake in FGP Topco, while Ardian will take control of a 22.6% stake, according to the statement. The acquisitions will be executed through separate vehicles. PIF had previously entered a binding agreement with FGP Topco <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/fd07d732-6415-45fc-a431-f60cb6ba06a8\" style=\"\" rel=\"noopener\">in November<\/a> to acquire a 10% stake. The previous agreement also included Ardian grabbing a 15% stake, bringing the total value of the agreement at the time to GBP 2.4 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been months in the making, with a major sticking point to resolve: <\/strong>The revised agreement comes after some of FGP Topco shareholders exercised their tag-along rights as they look to offload a 35% stake, according to Ferrovial. The shareholders had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/24422466-f1c2-4b31-968e-4608b7febc7b\" style=\"\" rel=\"noopener\">demanded<\/a> that they be bought out to avoid blocking the full sale. The transaction remains subject to the right of first offer and full tag-along rights that could be exercised by other Topco shareholders. It also remains subject to regulatory approval.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>If a shareholder exercises tag-along rights, the buyer must take their shares at the same price it offered other shareholders \u2014 or walk away.<\/p>\n<p class=\"tag-border-left\"> IN OTHER M&amp;A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shell beat oil giant <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/55cee431-e20b-4bf6-9c18-58e6a0c0ab79\" style=\"\" rel=\"noopener\">Aramco\u2019s bid<\/a><\/strong><strong> for the acquisition of Singapore\u2019s state-owned<\/strong> <strong>investment firm Temasek\u2019s liquefied natural gas <\/strong><strong>trading business Pavilion Energy<\/strong>, Shell and Temasek said in separate statements (<a target=\"_blank\" href=\"https:\/\/www.shell.com\/news-and-insights\/newsroom\/news-and-media-releases\/2024\/shell-signs-agreement-to-acquire-pavilion-energy.html\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.temasek.com.sg\/en\/news-and-resources\/news-room\/news\/2024\/temasek-signs-agreement-divest-pavilion-energy\" style=\"\" rel=\"noopener\">here<\/a>). The purchase comes a few months after Temasek shortlisted Shell and Aramco for the sale of its LNG subsidiary\u2019s assets. No purchase price was disclosed but Temasek valued Pavilion Energy at USD 3.6 bn at end of March 2023, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2a4ffd8f-2453-4f6c-b376-984ef4929f93\" style=\"\" rel=\"noopener\">Financial Times<\/a> reported. The transaction\u2019s value reportedly came in lower as it excludes Pavilion\u2019s stake in a gas project in Tanzania, the salmon-colored paper reports, citing a source it says is in the know.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/heathrow-airport\/\">Heathrow Airport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/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=\"87192\" 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=\"87192\">\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\/23\/pif-closes-in-on-holon-acquisition-after-getting-nod-from-regulator\/\">\r\n                            PIF secures European Commission\u2019s approval for acquisition of Holon                        <\/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\/23\/pif-closes-in-on-holon-acquisition-after-getting-nod-from-regulator\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The transaction will be made through the PIF\u2019s vehicle development arm, <a target=\"_blank\" href=\"https:\/\/www.tasaru.com\/\" style=\"\" rel=\"noopener\">Tasaru Mobility Investments<\/a>. No further details were provided.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Tasaru and Benteler <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4987ae96-ab64-4eda-a68a-bcb68656496f\" style=\"\" rel=\"noopener\">inked an agreement<\/a> in February to have the PIF subsidiary acquire up to a 38% stake in Holon. Tasaru\u2019s undisclosed nine-figure investment \u2014 which had been pending regulatory approval \u2014 will be disbursed in tranches. The first tranche was scheduled to be paid this past April.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Tasaru: <\/strong>The investment company was launched in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4987ae96-ab64-4eda-a68a-bcb68656496f\/pif%25e2%2580%2599s-mobility-investment-arm-buys-into-croatia-based-project-3-mobility-%2B-eyes-recogni,%253cmark%253e-holon%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">October 2023<\/a> and is 100% owned by PIF. Its mandate is to develop domestic supply chain capabilities in the automotive, mobility, and next-gen industries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Banking on self-driving EVs: <\/strong>Holon <a target=\"_blank\" href=\"https:\/\/www.benteler.com\/en\/press-media\/news-and-press-releases\/detail\/BENTELER-is-about-to-secure-a-multi-million-investment-for-autonomous-HOLON-Mover\/\" style=\"\" rel=\"noopener\">will use the fresh funds<\/a> to set up three new manufacturing plants in the Kingdom, Europe, and the US for the production of its autonomous and fully-electric <a target=\"_blank\" href=\"https:\/\/www.driveholon.com\/en\/the-mover\/\" style=\"\" rel=\"noopener\">Mover series<\/a>. The self-driving zero-emission shuttles are designed for public transport, suitable for both on-demand and scheduled services. They can accommodate up to 15 passengers at a time, traveling at a maximum speed of 60 km\/hour. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cHolon\u2019s revolutionary Mover aligns perfectly with Tasaru's vision for a smarter and more sustainable future. Together, we aim to unlock the Mover's potential, bringing significant benefits to Saudi Arabia and other regions, establishing the Kingdom as a hub for autonomous mobility innovation and manufacturing,\u201d Tasaru CEO <a target=\"_blank\" href=\"https:\/\/www.benteler.com\/en\/press-media\/news-and-press-releases\/detail\/BENTELER-is-about-to-secure-a-multi-million-investment-for-autonomous-HOLON-Mover\/\" style=\"\" rel=\"noopener\">Micheal Mueller said<\/a> in February.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Saudi is aiming big for EVs: <\/strong>Ceer \u2014 the Kingdom\u2019s first electric vehicle brand \u2014 inked <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f2e173b0-9362-472e-b01d-b5071d4c291e\" style=\"\" rel=\"noopener\">earlier this month<\/a> a SAR 8.2 bn (c. USD 2.2 bn) contract with global auto parts maker Hyundai Transys to supply advanced EV drive systems (EDS) for its vehicles. It plans to install the integrated drive systems in all of its EVs lineup, which includes SUVs, sedans and coupe models. The contract marks the first by Hyundai Transys for a global automaker.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ceer\/\">Ceer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/holon\/\">Holon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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\/tasaru-mobility-investments\/\">Tasaru Mobility Investments<\/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=\"87194\" 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=\"87194\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/inflation-holds-steady-for-third-consecutive-month\/\">\r\n                            Saudi inflation holds steady for third consecutive month                        <\/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\/23\/inflation-holds-steady-for-third-consecutive-month\/\" 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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On a monthly basis, consumer prices rose 0.2% m-o-m last month, driven by a 0.4% increase in housing, water, electricity, gas, and other fuel prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Unsurprisingly, rent is again the biggest driver of inflation<\/strong>, with rental prices climbing 10.5% y-o-y and 0.5% m-o-m in May. The increase was driven primarily by apartment rents, which climbed 14.3% annually. The month prior, villa rental prices were the main reason for overall rent increases.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- There remains a chance that officials could move to impose a modest form <\/strong><strong>of rent control<\/strong> with a view to blunting the pace at which rents are increasing. In <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d4f2da1e-ee43-48f4-a1c3-20d549542f7e\/more-ipo-news:-retail-offerings-for-rasan-%2B-talco%25e2%2580%2599s-tadawul-debuts-move-ahead\" style=\"\" rel=\"noopener\">May<\/a>, the Shura Council called on the Real Estate General Authority to create a national plan to tackle rising rent prices in the Kingdom, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2111400\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>. The council wants to see the authority setting price caps on real estate. Officials have yet to put meat on that statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also getting more expensive:<\/strong> Food and beverage prices, which were up 1.4% y-o-y; restaurants and hotels (up 2.5% y-o-y due to a 1.9% increase in food service prices); and education, with a 1.1% y-o-y increase.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the flipside, clothing, footwear, home furnishings, and cars all got cheaper:<\/strong> A 6.9% y-o-y drop in the price of ready-made clothing drove a 4.0% y-o-y decrease in the overall clothing and footwear sector last month, marking the fourth consecutive month that clothing and footwear prices have fallen. Car prices also declined 4.1% y-o-y, pushing overall transport prices to fall 2.4% y-o-y. Meanwhile, furnishing and home equipment prices dipped 3.8% on the back of a 5.8% y-o-y decrease in the prices of furniture, carpets, and flooring. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, producer prices rose 3.2% y-o-y in May<\/strong>, breaking an upward trend from the month prior, according to Gastat\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1351.pdf\" style=\"\" rel=\"noopener\">wholesale price index<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1351.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The uptick was driven by basic chemicals (up 14.5% y-o-y) and refined petroleum products (up 12% y-o-y), as well as food products, beverages, tobacco, and textiles, which rose 1.8%.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/general-authority-for-statistics-gastat\/\">General Authority for Statistics (Gastat)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/producer-prices\/\">Producer prices<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/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=\"87196\" 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=\"87196\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/pif-to-pour-usd-15-bn-into-brazils-green-economy\/\">\r\n                            PIF to pour USD 15 bn into Brazil\u2019s green economy?                        <\/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\/23\/pif-to-pour-usd-15-bn-into-brazils-green-economy\/\" 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\/23\/pif-to-pour-usd-15-bn-into-brazils-green-economy\/')\">\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\/23\/pif-to-pour-usd-15-bn-into-brazils-green-economy\/\">\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 to pour USD 15 bn into Brazil\u2019s green economy?&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/pif-to-pour-usd-15-bn-into-brazils-green-economy\/\">\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\/23\/pif-to-pour-usd-15-bn-into-brazils-green-economy\/&title=PIF to pour USD 15 bn into Brazil\u2019s green economy?\">\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+to+pour+USD+15+bn+into+Brazil%E2%80%99s+green+economy%3F+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F23%2Fpif-to-pour-usd-15-bn-into-brazils-green-economy%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\/23\/pif-to-pour-usd-15-bn-into-brazils-green-economy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1365.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87197\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/pif-to-pour-usd-15-bn-into-brazils-green-economy\/1365-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1365.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1365.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1365.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1365.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87196\" class=\"content-area-description single-story post-87196 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam-ksa tag-investment tag-investment-watch tag-public-investment-fund-pif tag-saudi-brazil-relations 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\/.b3392312-4b1d-4f89-b40e-57c74bf48a2d.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) plans to invest USD 15 bn in Brazil<\/strong>, the country\u2019s energy minister said at the FII Institute summit in Rio de Janeiro earlier this month, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-arabias-pif-plans-invest-15-billion-brazil-says-brazilian-minister-2024-06-12\/#:~:text=RIO%20DE%20JANEIRO%2C%20June%2012,for%20energy%20said%20on%20Wednesday.\" style=\"\" rel=\"noopener\">Reuters<\/a>. The sovereign wealth fund will reportedly invest the money into green hydrogen, renewable energy, and infrastructure, the minister said. No further details on the investments or the timeline were provided.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PIF\u2019s Brazil portfolio is growing: <\/strong>PIF is already working alongside Brazil\u2019s <a target=\"_blank\" href=\"https:\/\/www.patria.com\/\" style=\"\" rel=\"noopener\">Patria Investments<\/a> \u2014 one of the leading asset managers in Latin America \u2014 on a highway project in the South American country. Manara Minerals \u2014 a JV between Saudi Arabian Mining (Ma\u2019aden) and the PIF \u2014 completed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1e626509-bb2c-4938-9947-ab2106259b40\" style=\"\" rel=\"noopener\">last month<\/a> the acquisition of a minority stake in Brazilian miner Vale Base Metals for USD 2.6 bn. And Brazil\u2019s world-leading poultry supplier BRF is planning a new plant in Saudi that could see the Kingdom produce chicken locally for the first time. The plans come nearly a year after PIF-owned Saudi Agricultural and Livestock Investment Company (Salic) <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/idUSL1N38Q0Q5\/\" style=\"\" rel=\"noopener\">acquired a 10.7% stake<\/a> in BRF.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Family offices are going to help move things forward:<\/strong> The Kingdom wants to connect \u201cinstitutional investors, private companies, and especially family offices\u201d from Saudi and Brazil to help stimulate further investments between the two countries, the Investment Ministry\u2019s managing director of the Americas, Abdulrahman Bakir, told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-19\/saudi-wants-family-offices-to-help-build-americas-investment\" style=\"\" rel=\"noopener\">Bloomberg<\/a> last week. The push comes as the Investment Ministry sees plenty of potential in investing more in Latin America, Bakir said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beyond the PIF, economic + business ties between Saudi and Brazil are getting stronger:<\/strong> Patria Investments is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/fec18291-39f0-4cc2-88f6-361db47dd3d8\/%253cmark%253ebrazil%253c%2Fmark%253e%25e2%2580%2599s-patria-investments-wants-in-on-saudi%25e2%2580%2599s-vision-2030\" style=\"\" rel=\"noopener\">exploring potential investments<\/a> in the Kingdom, with at least three of Patria\u2019s companies \u2014 including gym club operator Smartfit and acai maker Frooty \u2014 looking to expand to the local market. Also, Brazilian private equity firm <strong>EB Capital Gestao de Recursos<\/strong> said earlier this month it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8390d548-b6c1-497f-93ad-6cc5d77580b5\" style=\"\" rel=\"noopener\">is seeking<\/a> USD 300 mn from Saudi investors to launch a USD 600 mn fund to launch by 3Q 2024. Brazilian planemaker <strong>Embraer<\/strong> has also partnered with the Kingdom to help develop its aerospace industry, hoping to secure the sale of 33 planes to Saudi. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture:<\/strong> Brazil and Saudi also list one another as top 20 trading partners, with USD 7 bn of inflows last year, according to data compiled by <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-10\/latin-america-s-patria-eyes-piece-of-saudi-crown-prince-s-vision\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The two countries also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/def7bc48-df72-40e7-9146-c2194800fa07\" style=\"\" rel=\"noopener\">inked an MoU<\/a> recently to cooperate on developing and localizing defense technologies. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment\/\">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                            <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\/saudi-brazil-relations\/\">Saudi-Brazil relations<\/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=\"87198\" 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=\"87198\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/saudi-overtakes-china-as-the-top-borrower-in-global-emerging-markets\/\">\r\n                            Saudi Arabia overtakes China as the top borrower in global emerging markets                        <\/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\/23\/saudi-overtakes-china-as-the-top-borrower-in-global-emerging-markets\/\" 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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Saudi sovereign and corporate bond issuances are up 8% YTD to over USD 33 bn, reflecting a \u201cvery healthy\u201d appetite for Saudi debt, according to Union Bancaire Privee\u2019s Managing Director Apostolos Bantis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government accounted for the lion\u2019s share \u2014 or just over 50% \u2014 of Saudi\u2019s total <\/strong><strong>debt issuances this year<\/strong> as it looks to plug a USD 21 bn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/730d70af-1544-402a-a451-1b7b212ad097\/state%253cmark%253e-budget%253c%2Fmark%253e-closes-fy-2023-in-deficit\" style=\"\" rel=\"noopener\">budget deficit<\/a> to fund some USD 37 bn in domestic giga-projects, according to Bloomberg. The Kingdom\u2019s foreign direct investment volumes have reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9da9c83b-9f9b-496e-9d64-e5f04b32d783\/%253cmark%253efdi%253c%2Fmark%253e-inflows-tick-up-in-4q-2023\" style=\"\" rel=\"noopener\">fallen below target<\/a> in 1Q 2024, Bloomberg wrote. Throw in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/23b2bb82-242d-42f7-a587-6812413add07\/%253cmark%253eopec%253c%2Fmark%253e%2B-will-phase-out-voluntary-production-cuts-starting-this-fall\" style=\"\" rel=\"noopener\">OPEC-mandated oil production cuts<\/a> and the result has been a compression of the Kingdom\u2019s revenues, prompting it to tap the debt markets for liquidity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The proof is in the paper: <\/strong>The government sold USD 5 bn worth of <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\">FCY-denominated sukuk<\/a> with three-, six-, and 10-year tranches, last month. It also raised <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b4ed5269-180a-4a47-8c8e-71f65d28da02\/al-jadaan-on-reform,-taxation,-and-the-outlook-for-oil\" style=\"\" rel=\"noopener\">USD 12 bn<\/a> in an earlier USD-denominated sovereign bond sale back in January, marking Saudi\u2019s <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\">largest issuance since 2017<\/a> when it sold USD 21.5 bn worth of bonds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the experts are saying:<\/strong> \u201cIt\u2019s not a surprise that the Kingdom has become the largest EM bond issuer given its large funding needs for large infrastructure projects,\u201d Bantis said. \u201cSaudi cannot keep up the current bond issuance pace for too long as that would start to have an impact on its fundamentals and cost of funding.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It's been a good year for EM bonds: <\/strong>Total bond sales from emerging markets grew 28% y-o-y to a combined 3-year high of USD 291 bn, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-19\/saudi-arabia-dethrones-china-as-top-emerging-market-borrower\" style=\"\" rel=\"noopener\">data<\/a>. Yields on EM paper is currently at 266 basis points (bps) above US treasuries, which is below the five-year average of 336 bps, the business information service notes. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/emerging-markets\/\">emerging markets<\/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=\"87200\" 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=\"87200\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/cabinet-approves-changes-to-regulations-on-financing-companies\/\">\r\n                            Saudi cabinet approves changes to regulations on financing companies                        <\/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\/23\/cabinet-approves-changes-to-regulations-on-financing-companies\/\" 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 requires finance companies to operate as a joint stock company and <a target=\"_blank\" href=\"https:\/\/www.tamimi.com\/law-update-articles\/the-new-saudi-finance-laws\/\" style=\"\" rel=\"noopener\">mandated<\/a> \u201cthat a certain percentage of the finance company must be offered through a public offering after two financial years.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s new?<\/strong> The amendments maintain that financing companies generally operate as joint-stock companies, but grant Sama the space to allow other forms based on specific business needs. Companies must now obtain central bank approval before engaging in any non-financing activity. Additionally, the amendments prohibit financing companies from loaning to other entities if a member of their board of directors acts as a guarantor. Each financing company must establish a review committee composed of non-executive board members. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Violations + penalties:<\/strong> Under the amendments, the boards of directors of finance and refinance companies will be held accountable for any violations including holding positions in multiple financing companies; overseeing or auditing financing companies while serving on their boards; failing to disclose any personal or familial interest in financing contracts; and for any losses incurred from unguaranteed financing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tools available to Sama: <\/strong>The central bank can respond to any misconduct by issuing warnings, requiring corrective action, suspending operations, imposing fines, appointing external advisors, and, in serious cases, going to court of revoke a license or force the liquidation of a company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Sama <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/924cbf3b-e18e-4585-8aae-5e2509cdfbd2\/sama-releases-draft-principles-on-compliance-and-internal-audit-at-finance-and-refinance%253cmark%253e-companies%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">released late last month<\/a> a separate set of regulations outlining principles for compliance and internal auditing at finance and refinance companies. These draft regulations are still available for public consultation until Tuesday, 25 June, and are set to take effect six months after their publication on Sama\u2019s website. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cabinet-watch\/\">CABINET WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/istitlaa\/\">Istitlaa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-central-bank-sama\/\">Saudi Central Bank (SAMA)<\/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=\"87202\" 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=\"87202\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/middle-east-paper-names-rob-jan-renders-as-acting-ceo\/\">\r\n                            Middle East Paper Co. names Rob Jan Renders as acting CEO                        <\/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\/23\/middle-east-paper-names-rob-jan-renders-as-acting-ceo\/\" 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\/23\/middle-east-paper-names-rob-jan-renders-as-acting-ceo\/')\">\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\/23\/middle-east-paper-names-rob-jan-renders-as-acting-ceo\/\">\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=Middle East Paper names Rob Jan Renders as acting CEO&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/middle-east-paper-names-rob-jan-renders-as-acting-ceo\/\">\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\/23\/middle-east-paper-names-rob-jan-renders-as-acting-ceo\/&title=Middle East Paper names Rob Jan Renders as acting CEO\">\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=Middle+East+Paper+names+Rob+Jan+Renders+as+acting+CEO+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F23%2Fmiddle-east-paper-names-rob-jan-renders-as-acting-ceo%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\/23\/middle-east-paper-names-rob-jan-renders-as-acting-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1738.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87203\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/middle-east-paper-names-rob-jan-renders-as-acting-ceo\/1738-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1738.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1738.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1738.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1738.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87202\" class=\"content-area-description single-story post-87202 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-ksa tag-middle-east-paper-company-mepco tag-moves 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\/.02704ef9-42ca-4a96-8bb1-da56f24f732e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The board of Tadawul-listed <\/strong><strong>Middle East Paper Company (Mepco) named Rob Jan <\/strong><strong>Renders (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/be.linkedin.com\/in\/rob-jan-renders-2007b628\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) as<\/strong><strong> its acting CEO effective <\/strong><strong>earlier this month<\/strong> after the retirement of its former CEO, Sami Ali Al Safran (<a target=\"_blank\" href=\"https:\/\/sa.linkedin.com\/in\/sami-safran-567a7452\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), according to a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc7eak6p\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Renders, who is a board member of Mepco, has held roles in several leading packaging solutions providers, including Austria-based Duropack, France\u2019s Otor, and others. He also provided consultancy services to global private equity firms including Carlyle, Blackstone, One Equity Partners Europe, and 3i Netherlands. He currently serves as independent director of South African wood fiber group Sappi.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/middle-east-paper-company-mepco\/\">Middle East Paper Company (MEPCO)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/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=\"87204\" 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=\"87204\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/hajj-relations-with-washington-lead-the-conversation-on-saudi-in-the-global-press\/\">\r\n                            Hajj, relations with US lead the conversation on Saudi in the global 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     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href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/hajj-relations-with-washington-lead-the-conversation-on-saudi-in-the-global-press\/\">\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=Hajj, relations with Washington lead the conversation on Saudi in the global press&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/hajj-relations-with-washington-lead-the-conversation-on-saudi-in-the-global-press\/\">\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\/23\/hajj-relations-with-washington-lead-the-conversation-on-saudi-in-the-global-press\/&title=Hajj, relations with Washington lead the conversation on Saudi in the global press\">\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=Hajj%2C+relations+with+Washington+lead+the+conversation+on+Saudi+in+the+global+press+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F23%2Fhajj-relations-with-washington-lead-the-conversation-on-saudi-in-the-global-press%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\/23\/hajj-relations-with-washington-lead-the-conversation-on-saudi-in-the-global-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1359.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87205\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/hajj-relations-with-washington-lead-the-conversation-on-saudi-in-the-global-press\/1359-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1359.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1359.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1359.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1359.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87204\" class=\"content-area-description single-story post-87204 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-enterpriseam-ksa tag-hajj tag-saudi-in-the-news tag-saudi-us-relations 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\/.53cb8025-d6aa-4987-9a26-03cbba100762.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The lead story on Saudi in the foreign press this morning and over the course of the Eid <\/strong><strong>break is Hajj<\/strong>, primarily the death toll during the pilgrimage as a result of the severe heat (<a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c3ggj0809dqo\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/06\/21\/middleeast\/hajj-deaths-mecca-extreme-heat-intl-latam\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/scorching-heat-ravages-hajj-as-more-than-1-000-pilgrims-die-d175a311.\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/saudi-arabia-hajj-pilgrimage-heat-deaths-1d5199ba89da3c66dca00ccf6fca8045\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/21\/world\/middleeast\/saudi-arabia-hajj-pilgrimage-heat-death.html?searchResultPosition=3\" style=\"\" rel=\"noopener\">NYT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/06\/19\/hundreds-died-during-this-years-hajj-pilgrimage-in-saudi-arabia-amid-intense-heat-officials-say.html?&qsearchterm=Saudi\" style=\"\" rel=\"noopener\">CNBC<\/a>). The majority of the deaths were among Egyptian pilgrims, leading the Egyptian government to rescind the licenses of 16 tourism companies for failing to provide the travelers with appropriate accommodation and medical care, according to <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0yq81LdivoibZS6hbeqHb6ruhMhfRkfhj74QvYntb8n1MzQyPBEpR6P43grvM5m74l\" style=\"\" rel=\"noopener\">a statement<\/a>. The final death toll looks set to be in the hundreds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi-US relations also captured the foreign press\u2019 imagination:<\/strong> The <a target=\"_blank\" href=\"https:\/\/www.atlanticcouncil.org\/blogs\/econographics\/is-the-end-of-the-petrodollar-near\/\" style=\"\" rel=\"noopener\">Atlantic Council<\/a> and <a target=\"_blank\" href=\"https:\/\/markets.businessinsider.com\/news\/currencies\/dollar-dominance-dedollarization-petrodollar-saudi-crude-greenback-china-yuan-brics-2024-6\" style=\"\" rel=\"noopener\">Business Insider<\/a> each came out with a piece on \u201cthe end of the petrodollar\u201d following unsubstantiated social media reports that the Kingdom is planning to start selling oil in currencies other than USD. Meanwhile, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6c7cc4fc-a65a-47cf-b7a4-ed0762afea03\" style=\"\" rel=\"noopener\">Financial Times<\/a> \u2019 Big Read last week looked at the development of the relationship between Washington and Riyadh over the course of US President Joe Biden\u2019s tenure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also getting ink:<\/strong> Saudi women gaining a stronger foothold in the Saudi job market, with 31% of Saudi women finding employment, writes <a target=\"_blank\" href=\"https:\/\/www.foreignaffairs.com\/saudi-arabia\/working-women-are-changing-saudi-arabia\" style=\"\" rel=\"noopener\">Foreign Affairs<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hajj\/\">hajj<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-us-relations\/\">Saudi-US relations<\/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=\"87206\" 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=\"87206\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/aramco-land-long-term-lng-supply-agreement-with-nextdecade\/\">\r\n                            Aramco land long term-LNG supply agreement with NextDecade                        <\/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\/23\/aramco-land-long-term-lng-supply-agreement-with-nextdecade\/\" 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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Under the terms, the LNG will be supplied from the fourth liquefaction train at Next Decade\u2019s Rio Grande LNG Facility in Texas. The two sides are negotiating a binding agreement, contingent on a positive final investment decision on Train 4, which is expected in the second half of this year, according to NextDecade.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Aramco <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/39ce45dd-e610-40e9-a4ee-c17cca6557ed\" style=\"\" rel=\"noopener\">has been in talks<\/a> with NextDecade for a long-term gas purchase agreement from the Texan company\u2019s Rio Grande facility. It has also been involved in negotiations with Houston-based Tellurian over a potential stake purchase in the US firm\u2019s 27.6 mn metric ton per annum (mtpa) Driftwood LNG plant in Louisiana.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters:<\/strong> Aramco Upstream President Nasir K. Al Naimi said the oil giant was looking at potential investments to \u201cexpand our presence in international energy markets. \u201cWe expect LNG to play an important role in meeting the rising demand for secure and efficient energy,\u201d Al Naimi said. Aramco\u2019s play for LNG comes amid forecasts of the LNG market growing globally by 50% by 2030, with LNG capacity almost doubling in the US over the end of the decade, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/nextdecade-saudi-aramco-sign-20-year-lng-supply-deal-2024-06-13\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Aramco signed an MoU with global tech player Dell to explore ways to use advanced technologies for the Kingdom\u2019s energy sector, <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2533116\/corporate-news\" style=\"\" rel=\"noopener\">Arab News<\/a> reported. These include artificial intelligence, quantum computing, edge computing solutions and others. It aims to improve energy optimization, maintenance, weather modeling, and others. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Tadawul-listed oil and gas drilling company Ades Holding inked an offshore drilling <\/strong><strong>contract worth SAR 185 mn with Egypt\u2019s state-owned Suez Oil Company (Suco)<\/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\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMzgyL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwODc3\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The two-year contract involves the operation of a standard jack-up rig in Egypt from Ades\u2019 current fleet, which is expected to start in the second half of the year. The signing of the agreement came weeks after Suco <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e261b098-4565-4003-8cd6-f884e67727f6\" style=\"\" rel=\"noopener\">awarded the contract<\/a>, which was then valued at SAR 161 mn. However, the contract was amended to extend to two years from an initial set period of 21 months, according to Ades.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Ades Holding <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/54fa9d87-50cd-4b3e-8217-70a520c3eb21\" style=\"\" rel=\"noopener\">landed in March<\/a> a 10-year service agreement that will see it work to boost oil production at two brownfields in Egypt. The agreement was signed with two subsidiaries of the Egyptian General Petroleum Corporation \u2014 Suco and Offshore Shukheir Oil Company (Osoco). It sees Ades investing USD 30 mn in Suco and USD 36 mn in Osoco, over the first three years. The consortium\u2019s share of the additional production will range between 61% and 72% depending on production volume and price factors. The project is slated for launch in July 2024.<\/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\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China has approved having exchange-traded funds (ETFs) track equities listed on <\/strong><strong>Tadawul<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/china-approves-first-etfs-tracking-saudi-equities-fund-managers-say-2024-06-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing two unnamed fund managers. The ETFs, which are managed separately by Shanghai-based Huatai-Pinebridge Investments and Shenzhen-based Southern Asset Management, will reportedly track Hong Kong-listed CSOP Saudi Arabia ETF, the sources said. This would pave the way for investors to trade Saudi stocks including oil giant Aramco and others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> The first Saudi ETF in Asia <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d68a2eb6-2f0d-4eb4-a958-a4eb0595b96f\" style=\"\" rel=\"noopener\">debuted in Hong Kong<\/a> last November. Fund manager CSOP Asset management said at the time it was looking to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-09\/saudi-stock-exchange-ceo-sees-further-blitz-of-ipos\" style=\"\" rel=\"noopener\">cross list the ETF<\/a> in Shanghai in the second half of the year.<\/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\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We might see some of <\/strong><strong>King Salman International Airport\u2019s going live in 2026: <\/strong>King Salman International Airport \u2014 an expansion of the capital\u2019s King Khalid International Airport \u2014 will open its private aviation terminal in 2026, the airport\u2019s acting CEO Marco Mejia told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/64786\/%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%AA%D8%B1%D9%82%D8%A8-%D8%A3%D9%88%D9%84-%D9%85%D8%B1%D8%A7%D9%81%D9%82-%D9%85%D8%B7%D8%A7%D8%B1-%D8%A7%D9%84%D9%85%D9%84%D9%83-%D8%B3%D9%84%D9%85%D8%A7%D9%86-%D9%81%D9%8A-2026\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. \u201cThe airport is a brownfield, it\u2019s an expansion of the existing King Khalid Airport and for that reason we\u2019re developing different phases,\u201d Mejia said. The airport plans to introduce a new runway in 2027, a passenger terminal in 2028, and its \u201ciconic terminal\u201d by 2030, he said. Construction is set to continue until 2034, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the airport:<\/strong> Unveiled in November 2022, the airport is <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/press-releases\/2022\/king-salman-international-airport\/\" style=\"\" rel=\"noopener\">poised to be<\/a> one of the world\u2019s largest airports with an area spanning 57 square kilometers with six parallel runways. It is set to accommodate up to 120 mn passengers by 2030 and 185 mn travelers by 2050.<\/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>Healthcare group Al Hammadi has completed the sale of one of its plots in Riyadh\u2019s Al<\/strong><strong> Rayyan district to <\/strong><strong>Emmar Ocean<\/strong><strong> in a transaction valued at SAR 124.6 mn<\/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\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEKwQK5IIcs4RISRw5Din9-uaBhGihopYP3vHM7OwSl6yJG7Nj4DMViJiFRb1xjW2HGtDumzCF_uINDHAsY7kwtV7bIKtrgjm2DLAn1J62ux2wPoC4_9KDM-uA_T4b6yOYgwXGY3q4c-gD_d1rypQ-d4sEw1drMKK6aXR_Em6M-KPJ7xkqwh8hh8T1Q-HVC6exp5s-cSXuUaJsZbKAD0ol6UsDGpDnecsXwg-xxUXUgFuSg0gVWV8ziYNxta7u3X0MNLKSmIpMciRzHxWNY5HFHCOM1ShIVY8pRmzO-AFHeMRwxnwkTjkf2x2DVMi0ZJFNiaTIlZC9ZLA716fIE2H9TqTYZVwtTgnWgBKF9fmdFKZO8FVUGtRGTPLDhVv-T7LIQ9nzyEYvob0U0cWAlal5mbkWadumVjXBT-VUZjVvVyhmKANRJkyi5XINwaDpeiddj2hk6tc3p0_fk2e1vA!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MDA3L2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwODU3\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Proceeds from the sale will be used to support the company\u2019s expansion plans, 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\/jZFdb4IwFIZ_yy68XM6Rj4K7A8QKkSICA3pj6lwcCR_GMI3_fp0mJsNh7F2T5-15nx7gkANvxLHcia5sG1HJe8HJWrcIKnMTQ5wnDhKMKUkTczz1VMh6QLzUMZotA3WBK6RIgD-Tx4Fj4XP5G2AGlGDErChUDB3p-xN5_hehM8WVBhM7mrp0jNToA_8oXoBHDg9bKKQPhNbEkCN8m3oLSzXJXYd7TR_4rmo315V9dd3-bYQj7MRWnL6rkazw0dZ70Zzjc71pJaQhGkOoaBpHdJCPhwFvC7kxUTQTYnGAQi7BGPSLCGTH8vMEadMeatkw_tWxGAtT5riBy5I1SwPbXUFxfZL32xaXton8g4dT9nWa5lh65bLOzE7faIV_ZK_Ryw8IVtSW\/dz\/d5\/L0lHSkovd0RNQU5rQUVnQSEhLzROVkUvZW4!\/\" style=\"\" rel=\"noopener\">an earlier disclosure<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ades-holding\/\">Ades Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-hammadi\/\">Al Hammadi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/dell-technologies\/\">Dell Technologies<\/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=\"87208\" 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=\"87208\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/em-currencies-on-course-for-worst-1h-since-2020\/\">\r\n                            EM currencies on course for worst 1H since 2020                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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   <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/em-currencies-on-course-for-worst-1h-since-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1348.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87209\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/23\/em-currencies-on-course-for-worst-1h-since-2020\/1348-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1348.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1348.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1348.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1348.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87208\" class=\"content-area-description single-story post-87208 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-emerging-markets tag-enterpriseam-ksa tag-financial-markets tag-foreign-exchange 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\/.e9957d10-f27f-4916-8c06-63fcaf12924b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Currencies in emerging markets have been on a losing streak since the beginning of <\/strong><strong>2024<\/strong>, falling towards their worst start to the year since 2020 as they face pressure from a stronger-than-expected USD and carry traders fleeing Latin American markets, writes the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/000bfcb5-b1c6-4287-88de-f1e2b7b268ec\" style=\"\" rel=\"noopener\">Financial Times<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>JPMorgan\u2019s index for currencies in emerging markets has dipped 4.4% in 2024 \u2014 a dip more than double the size of their decline over the past three years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Carry trade investors have been stepping back from some of the larger emerging <\/strong><strong>markets: <\/strong>Despite investor appetite growing in the beginning of the year for the carry trade in emerging markets, local interest rate uncertainty and elections spooking the markets have destroyed much of the gains made. This is particularly true in Latin America, where the MXN has fallen nearly 10% against the greenback after Mexico\u2019s election of Claudia Sheinbaum <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d17013b-f845-442e-8328-b45210c62ddf\/this-weekend:-madbouly-to-form-the-new-cabinet\" style=\"\" rel=\"noopener\">spooked<\/a> the markets and other currencies in the region followed suit. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Thankfully, the carry trade is alive and well in some smaller emerging markets \u2014 <\/strong><strong>including<\/strong><strong> Egypt: <\/strong>Some carry trade investors have been ditching larger emerging markets and are instead focusing on local currency bonds from smaller countries working their way out of economic difficulties with high interest rates like Egypt and Nigeria, the salmon-colored paper writes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But don\u2019t forget about the big USD elephant in the room: <\/strong>With the DXY index showing the USD up 4.4% since the start of the year against six of its main trading partner\u2019s currencies in addition to traders cutting expectations of six or seven interest rate cuts this year to just two, EM currencies have become much less attractive. \u201cA bit more than half of EM weakness has been about dollar strength,\u201d explained Abrdn\u2019s EM portfolio manager Kieran Curtis. <\/p>\n<p><a target=\"_blank\" id=\"t.63c4691234432ea1c728ae7e18a1723a78ffcd73\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,499<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: -3.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,438<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: -7.3%)<\/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>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\">26,754<\/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: +9.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>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\">26,418<\/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\">+1.1% (YTD: +6.1%)<\/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>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\">9,013<\/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\">+0.7% (YTD: -5.9%)<\/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\">4,012<\/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: -1.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-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\">5,465<\/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: +14.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,238<\/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: +6.5%)<\/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>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,907<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +8.5%)<\/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 85.24  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.71  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,331.20<\/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%<\/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 64,303<\/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: +53.0%)<\/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 fell 1.3% on the last close before the Eid break <\/strong>on turnover of SAR 11 bn. The index is down 3.9% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Rasan (+30.0%), Talco (+14.4%) and MIS (+7.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Smasco (-8.5%), Acwa Power (-5.3%) and Miahona (-5.2%).<\/p>\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong><strong> rose 0.4% on the last close before the Eid break <\/strong>on turnover of SAR 29 mn. The index is up 9.1% 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> Burgerizzr (+11.4%), AZM (+5.7%) and Jahez (+4.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Ladun (-8.2%), Osool and Bakheet (-5.8%) and Pro Medex (-5.7%)<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Shareholders of Tadawul-listed <\/strong><strong>Modern Mills have approved the board\u2019s <\/strong><strong>recommendation to distribute SAR 81.8 mn in dividends <\/strong>at SAR 1 per share for FY 2023, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1331.pdf\" style=\"\" rel=\"noopener\">regulatory filing (pdf)<\/a>. Eligible shareholders will be able to cash in starting Sunday, 7 July.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The board of Tadawul-listed <\/strong><strong>Sahara International Petrochemical has approved a <\/strong><strong>dividend <\/strong><strong>of SAR 362.6 mn at <\/strong><strong>SAR 0.50 per share for 1H 2024<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qCGId6BALsgxSxIpiSPHgdKvbx5IiBYqavngHc_Mzi5xyZq4CTuEPlOhSFhU1BvX2HaoAe2-CRPoL97AAMcylgtT67UNsrommCPLgNmYzibtbgesDyDuv_TgTDswe5-O9CHMwQLjMT3cOfSB_u41ZUKfu0WCwatlD6luGt2fhBsj_mjye4aK8EfIAXH9SHj1wmni6aZPXIl7lChbuSzgQKk0e2lAA47HY8sXwo-wxUXcgFuSQGSKrK-ZxMGkWlf37j5sjawkZiKXHMncR0WTROQJxxgTNQwz1WOKkRlnPMAhHjCaMh-JU87HdocwEzIrWWRTIhlyJWQvtXfn-hR7IqrfqRS7nKvFKcUaUKKwPr_TwtQJv4pKg9qISR5cuOX_OI89lD2PbNoltJcivhiwMjUvM9cibdvUqib4qZzKrObtCsUUZSjKhGm8XK4htJuud9L1mMamfn2P9OkbK6f_eg!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMzEwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwODY3\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The distribution date is set for Thursday, 11 July.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/foreign-exchange\/\">foreign exchange<\/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=\"87210\" 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\/23\/87210\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87210\" class=\"content-area-description single-story post-87210 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>1-30 June (Saturday- Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.monshaat.gov.sa\/ar\/node\/107809\" style=\"\">Monsha\u2019at\u2019s support meetings<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Jeddah, Alkhobar, and Madinah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28 June (Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.spa.gov.sa\/N2115329\" style=\"\">Start of Jeddah Season 2024<\/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: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>12 July (Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/pflmena.com\/\" style=\"\">PFL MENA 2<\/a><\/span><span style=\"font-weight:400;\">, The Green Halls, 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>18 August (Sunday): New academic year begins. <\/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:\/\/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>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;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.idc.com\/mea\/events\/71254-idc-saudi-arabia-cio-summit-2024\" style=\"\">IDC Saudi Arabia CIO Summit 2024<\/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>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>1-3 October ( Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/intersec-ksa.ae.messefrankfurt.com\/ksa\/en.html\" style=\"\">Intersec Saudi Arabia 2024<\/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>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>23-26 December (Monday-Thursday): <\/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 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 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: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>14-15 February (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.fiaformulae.com\/en\/news\/501062\" style=\"\">Formula E<\/a><\/span><span style=\"font-weight:400;\">, Diriyah.<\/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\">JUNE 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26 June (Thursday): 2024-2025 academic year ends.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">UN Trade and Development Global Supply Chain Forum <\/span><span style=\"font-weight:400;\">to take place in Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The World Water Forum <\/span><span>takes place in Riyadh. <\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>PIF gets more Heathrow + regulatory nod on Holon | Shares of Rasan and Talco pop in Tadawul debut | Nuclear pact with Washington gains momentum | Inflation steady for third month in a row<\/p>\n","protected":false},"featured_media":87186,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-87185","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1f35c0cb-5fbb-49a8-afc7-abd7a14d34dd","teaser":"PIF gets more Heathrow + regulatory nod on Holon | Shares of Rasan and Talco pop in Tadawul debut | Nuclear pact with Washington gains momentum | Inflation steady for third month in a row","photo_url":"https:\/\/ent.news\/2024\/5\/867.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>\u2026and we\u2019re back! - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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