{"id":87409,"date":"2024-06-30T00:00:00","date_gmt":"2024-06-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=87409"},"modified":"2025-12-14T18:26:02","modified_gmt":"2025-12-14T18:26:02","slug":"aramco-heavy","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/aramco-heavy\/","title":{"rendered":"Aramco-heavy"},"content":{"rendered":"<section id=\"87411\" 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=\"87411\">\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\/30\/bankers-havent-had-to-prop-up-aramcos-share-price-since-it-pulled-trigger-on-usd-11-2-bn-secondary-offering\/\">\r\n                            THIS MORNING: Bankers haven\u2019t had to prop-up Aramco\u2019s share price since it pulled trigger on USD 11.2 bn secondary offering                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/bankers-havent-had-to-prop-up-aramcos-share-price-since-it-pulled-trigger-on-usd-11-2-bn-secondary-offering\/\" target=\"_blank\">\n                   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\r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/bankers-havent-had-to-prop-up-aramcos-share-price-since-it-pulled-trigger-on-usd-11-2-bn-secondary-offering\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/561.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87412\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/bankers-havent-had-to-prop-up-aramcos-share-price-since-it-pulled-trigger-on-usd-11-2-bn-secondary-offering\/561-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/561.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"561.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/561.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/561.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87411\" class=\"content-area-description single-story post-87411 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-aramco tag-dar-al-arkan tag-dar-global tag-enterpriseam-ksa tag-ipo-watch tag-real-estate tag-sports tag-what-were-tracking-today tag-zatca 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\/.f848b773-b8ef-48bd-8d5d-09185e0d8946.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people.<\/strong> We have an Aramco-heavy issue to get us started this morning, so let\u2019s jump right in:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>UP FIRST- Bankers haven\u2019t had to prop-up Aramco\u2019s share price since the oil giant\u2019s USD <\/strong><strong>11.2 bn secondary offering<\/strong>, stabilization manager Merrill Lynch KSA 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\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83Z29TAwC_Rx9DSxdLY0MDAz1w_Wj9KOQlRgEB5gaBLoF-Br7GAQZuBuYQRUY4ACOBvoF2dmBAERHA9g!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFSklLSUtVUW9ncFJJa0EhIS9ZUFVFQUFBSUlFTUVDS0lFQUdJR09JT0lCSkZKRkJKTkROREJORUxMSEhQSFBMSEFnb2dvckFzQ0FBISEvNEpDaWpLMWJHTGppRUVwTWhUVlVrNUNpbXBwektETmJ0WmJPYW5tdDJzdGd0U0txb3lRIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9lbi9jb21wYW55U3ltYm9sLzExNzEvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMDQ5\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The stabilization period runs until Tuesday, 9 July. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise? What\u2019s price <\/strong><strong>stabilization<\/strong><strong>? <\/strong>It\u2019s when the stock\u2019s underwriters buy shares to support a stock\u2019s price within a set period of the start as trading. The idea is to provide support to keep a stock from falling below its IPO price. Once the price stabilization period ends though, the stock\u2019s price is completely at the market\u2019s whim. Not every IPO or secondary sale has a stabilization fund. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Aramco closed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/11b8a541-a6d0-44d9-a177-9ef29b4f41c8\" style=\"\" rel=\"noopener\">earlier this month<\/a> a follow-on offering that saw it raise USD 11.2 bn in what was the largest secondary offering in EMEA since 2000. The transaction was also the largest in equity capital markets in the region since Aramco\u2019s own IPO in 2019. Newly sold shares <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d674c818-d50d-4e1b-9794-d8fb0a8bb3ef\" style=\"\" rel=\"noopener\">began trading on Tadawul<\/a> on Sunday, 9 June after the final allocation of shares took place on Friday, 7 June.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have two real estate stories to get us started:<\/strong><\/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- Dar Global eyes US push: <\/strong>Dubai-headquartered Dar Global plans to invest USD 300 mn in to develop luxury homes in the US cities of New York, Miami, and Los Angeles in the coming months, Dar Global\u2019s CEO Ziad El Chaar was quoted as saying by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/saudi-developer-dar-global-eyes-300-million-investment-us-expansion-2024-06-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Dar Global is a unit of Dar Al Arkan, one the Kingdom\u2019s largest listed real estate developers,. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The developer wants at least half of its US developments to go to non-US buyers<\/strong>, El Chaar said, adding that the first project is scheduled to close before the end of 2024. Dar Global is currently seeking partners to help with the expansion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Dallah and other investors to launch real estate investment fund:<\/strong> Dallah Healthcare, Dallah Real Estate, Tatweer, and asset management firm AlJazira Capital plan to launch a real estate investment fund, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/06\/27\/article_2737966.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> reported citing sources it says have knowledge of the plan. The fund develop a mixed-use building on King Fahd Road in Riyadh that will include commercial and office space, hotels, and healthcare facilities.<\/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>#3- Non-Saudis will now be allowed to take part in auctions by the Zakat, Tax and <\/strong><strong>Customs Authority (Zatca)<\/strong>, a <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/ar\/MediaCenter\/News\/Pages\/News_1255.aspx\" style=\"\" rel=\"noopener\">statement on the authority\u2019s updated regulations<\/a> for public auctions showed. The updated regulations also include clearer requirements and procedures for the auctions across Zatca\u2019s air, sea and land ports to ensure transparency. No further details were provided.<\/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\">FOR THE RECORD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Our friends at HSBC are \u201cvery bullish\u201d on Saudi equities due to the Kingdom\u2019s strong <\/strong><strong>reform program and ongoing economic diversification drive<\/strong>, HSBC Global Banking and Markets Head of Equity Sales, Europe & Emerging Markets Camille Asmar told Argaam on the sidelines of the HSBC GCC London Conference (<a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1737240\" style=\"\" rel=\"noopener\">watch, runtime: 5:51<\/a>). \u201cIf you want to take the long term view, this [Saudi] is the emerging market that offers you one of the most attractive returns,\u201d Asmar said. <\/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\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Two-way trade between the Gulf and the US reached USD 180 bn in 2023, <\/strong><a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/06\/29\/article_2738286.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> reports citing statements by Gulf Cooperation Council (GCC) Secretary-General Jassim Al Badawi at a round table in Washington. Al Badawi also talked up opportunities for US investors in large-scale regional infrastructure projects, including the proposed GCC railway that would connect all six GCC member states.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2- The Saudi sports market will nearly triple in value to SAR 84 bn by 2030<\/strong>, up sharply from SAE 30 bn today Investment Ministry Director of Sports Sector Investment Development Basem Ibrahim said during an industry gathering, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2130251\" style=\"\" rel=\"noopener\">SPA<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The Small and Medium Enterprises Bank has handed out over SAR 1 bn in loans <\/strong><strong>since its launch in 2021<\/strong>, with SAR 715.4 mn provided under its <a target=\"_blank\" href=\"https:\/\/smebank.gov.sa\/en\/programs\" style=\"\" rel=\"noopener\">co-financing program<\/a>, SAR 235.9 mn under a subsidized loan program, and SAR 88.5 mn under its agency program, according to a <a target=\"_blank\" href=\"https:\/\/ndf.gov.sa\/ar\/%d8%ae%d8%b7%d9%89-%d8%a7%d9%84%d8%a5%d8%b5%d8%af%d8%a7%d8%b1-%d8%a7%d9%84%d8%ab%d8%a7%d9%84%d8%ab\/\" style=\"\" rel=\"noopener\">report<\/a> from the National Development Fund.<\/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\">PSAs-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Saudi citizens should leave Lebanon immediately <\/strong>the Saudi embassy in Beirut said yesterday as tensions ramped up between Hezbollah, Israel, and Iran.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Friday <\/strong><strong>sermon<\/strong><strong> and prayer at the Grand Mosque in Makkah and the Prophet <\/strong><strong>Mosque <\/strong><strong>in Madinah will be shortened to 15 mins only until the end of summer due to scorching heat<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.saudigazette.com.sa\/article\/643759\/SAUDI-ARABIA\/Duration-of-Friday-sermon-and-prayer-at-Two-Holy-Mosques-shortened-to-15-minutes-until-end-of-summer\" style=\"\" rel=\"noopener\">Saudi Gazette<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The next round of e-invoicing: <\/strong>Companies that had more than SAR 7 mn in revenues subject to VAT in 2022 or 2023 will have to \u201cintegrate their e-invoicing solutions with Zatca\u2019s Fatoora platform from 1 January 2024,\u201d Zatca said in a <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/News_1256.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. It\u2019s the latest phase of a e-invoicing rollout that began in late 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Expect some clouds over <strong>Riyadh<\/strong> skies with a daytime high of 44\u00b0C today and an overnight low of 30\u00b0C. <strong>Makkah<\/strong> will see a high of 45\u00b0C with hot wind before the mercury dips to 31\u00b0C at night, and <strong>Madinah<\/strong> can look forward to a high of 44\u00b0C today and a low of 31\u00b0C tonight.<\/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\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Spanish-Venezuelan tennis star and former world number-one Garbine Muguruza has <\/strong><strong>been named as director of the WTA Finals that will be held in Riyadh starting this year<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.wtatennis.com\/news\/4045381\/garbi-e-muguruza-named-tournament-director-of-wta-finals-riyadh\" style=\"\" rel=\"noopener\">WTA statement<\/a>. It\u2019s the first time a former player assumes a leadership position at the season finale, according to the statement. She will be in charge of planning and delivering the flagship event for the next three years, coordinating between the WTA, Saudi Tennis Federation, and Sports Ministry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> Riyadh <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a575e475-995a-47a3-a924-3d43b2ae9cb1\" style=\"\" rel=\"noopener\">was named host<\/a> of the WTA tennis finals from 2024-2026. The tournament, which will run from 2-9 November in Riyadh, will feature the top women singles players as well as doubles matchups with a record purse of USD 15.25 mn on offer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>The Asian Snooker Championship kicked off in Riyadh on Thursday,<\/strong> with more than 200 male and female participants from 15 countries, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2130505\" style=\"\" rel=\"noopener\">state news agency SPA reports<\/a>. The tournament wraps up on Friday, 5 July.<\/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>Were you forwarded this email? <\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It was a busy weekend for news by any standard, but one story clearly stands out: Joe <\/strong><strong>Biden<\/strong>\u2019s disastrous debate performance on Thursday night, which has led to a cacophony of calls for him to step aside as the Democratic nominee and allow a younger challenger to take on Donald Trump. Biden stumbled over words and appeared spaced-out at times during the CNN-hosted slugfest, while Trump engaged in serial lies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Missed it<\/strong>? <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/06\/27\/politics\/takeaways-biden-trump-debate\/index.html\" style=\"\" rel=\"noopener\">CNN has a summary<\/a> and NBC has a <a target=\"_blank\" href=\"https:\/\/www.nbcnews.com\/video\/watch-the-first-2024-presidential-debate-in-3-minutes-213861957567\" style=\"\" rel=\"noopener\">three-minute lowlight reel<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Typical of the message Biden is getting right now: <\/strong><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/28\/opinion\/biden-election-debate-trump.html\" style=\"\" rel=\"noopener\">To serve his country, President Biden<\/a><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/28\/opinion\/biden-election-debate-trump.html\" style=\"\" rel=\"noopener\">should leave the race<\/a>, in the New York Times.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How would that work? <\/strong>Biden would have to agree to step aside and release his nearly 3.9k delegates well before the <a target=\"_blank\" href=\"https:\/\/demconvention.com\/\" style=\"\" rel=\"noopener\">Democratic National Convention<\/a> gathers in Chicago on 19 August. It won\u2019t be easy, though, the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/biden-replacement-democratic-ballot-dnc-rules-7aa836b0ae642a68eec86cc0bebd3772\" style=\"\" rel=\"noopener\">Associated Press<\/a> warns. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Biden is so far having none of it <\/strong>and has <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6ea20937-0b0b-4091-8b5b-711f023d2133\" style=\"\" rel=\"noopener\">asked wealthy donors to stick stand by him<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO making headlines: A US Supreme Court ruling has dealt a sharp blow to the US <\/strong><strong>administrative state\u2019s ability to regulate businesses.<\/strong> Like in many countries, US legislators pass laws that are brought to life by regulation \u2014 and much of that regulation is tested in internal agency tribunals outside of the courts. The overturning on Friday of a 40-year-old precedent now calls into question how that would work going forward the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/28\/us\/politics\/supreme-court-regulatory-agencies.html\" style=\"\" rel=\"noopener\">New York Times<\/a> and <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/us-news\/law\/supreme-court-puts-biden-policies-like-net-neutrality-and-ban-on-noncompete-contracts-at-risk-50f044ff\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME- EUR 40 bn in commitments to Egypt? <\/strong>Today is day two of the EU-Egypt investment conference in Cairo, where European Commission President Ursula von der Leyen said yesterday that European Union companies are inking transactions \u2014 in the form of contracts and less-sticky MoUs \u2014 that could be worth more than EUR 40 bn if they materialize. Von der Leyen said that <strong>Egypt\u2019s \u201cstability and prosperity are essential for an entire region<\/strong>,\u201d <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/european-companies-signing-more-than-42-bln-worth-deals-egypt-von-der-leyen-says-2024-06-29\/\" style=\"\" rel=\"noopener\">Retuers<\/a> reports.<\/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\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The eight-week <\/strong><strong><a target=\"_blank\" href=\"https:\/\/esportsworldcup.com\/en\" style=\"\" rel=\"noopener\">Esports World Cup<\/a><\/strong><strong> will open on Wednesday, 3 July<\/strong> and run through Sunday, 25 August Riyadh\u2019s Boulevard City. It will see the world\u2019s best esports clubs competing for a pool of USD 60 mn \u2014 the largest purse in esports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Real Estate General Authority (REGA) is holding its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/x.com\/REGA_KSA\/status\/1805925267635855571\" style=\"\" rel=\"noopener\">first media-focused forum<\/a><\/strong><strong> in <\/strong><strong>Riyadh on Sunday, 7 July <\/strong>at the Riyadh International Conventions and Exhibitions Center. The forum will discuss the media\u2019s role in developing the real estate market and the future of the relationship between the two industries.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/dar-al-arkan\/\">Dar Al Arkan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/dar-global\/\">Dar Global<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/zatca\/\">Zatca<\/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=\"87413\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n             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<\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87414\" 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=\"87414\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/aramco-is-closing-in-on-10-of-horse-powertrain\/\">\r\n                            Aramco is closing in on acquiring 10% of Horse Powertrain                        <\/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\/30\/aramco-is-closing-in-on-10-of-horse-powertrain\/\" 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\/30\/aramco-is-closing-in-on-10-of-horse-powertrain\/')\">\n                    Copy Link                <\/a>\n\n          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   <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/aramco-is-closing-in-on-10-of-horse-powertrain\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1838.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87415\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/aramco-is-closing-in-on-10-of-horse-powertrain\/1838-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1838.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1838.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1838.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1838.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87414\" class=\"content-area-description single-story post-87414 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-aramco tag-enterpriseam-ksa tag-evs tag-geely tag-horse-powertrain tag-investment-watch tag-renault 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\/.3c68738c-249b-4e52-a0b7-b2669e9f82a6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Oil giant Aramco has signed definitive agreements to acquire a 10% stake in Horse <\/strong><strong>Powertrain<\/strong> \u2014 a joint venture between French carmaker Renault and China\u2019s automaker Geely, according to a joint statement (<a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2024\/aramco-to-acquire-10-percent-equity-interest-in-horse-powertrain-limited\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/zgh.com\/media-center\/news\/2024-06-28\/?lang=en\" style=\"\" rel=\"noopener\">here<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s Horse Powertrain? <\/strong>Formally founded in May of this year, the London-based JV was set up to manufacture next-generation powertrain solutions, including internal combustion engines that use alternative fuels such as ethanol, methanol, and hydrogen, as well as full hybrids and long-range plug-in hybrids, according to its <a target=\"_blank\" href=\"https:\/\/www.horse.cars\/about-horse\/\" style=\"\" rel=\"noopener\">website<\/a>. It currently operates 17 global plants, 5 R&D centers with nine industrial customers in 130 countries, according to the release. It expects to produce some 5 mn powertrain units annually. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>The transaction assigns Horse an enterprise value of EUR 7.4 bn and would see Renault and Geely each retain a 45% stake. Aramco had initially sought a 20% stake in the powertrain technology venture under a preliminary agreement with Renault and Geely last year, according to <a target=\"_blank\" href=\"https:\/\/www.geelyksa.com\/news\/geely-unveils-new-partnership-with-renault-and-aramco-to-revolutionize-powertrain-technology\/\" style=\"\" rel=\"noopener\">an earlier statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> The investment would allow Aramco to expand its venture into global energy transition through the \u201cdevelopment and commercialization of more efficient mobility solutions.\u201d It will also see it working together with US-based oil refinery Valvoline to develop technologies, fuels, and lubricants that could improve the performance of Horse Powertarin\u2019s internal combustion engines.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cAramco\u2019s investment is expected to directly contribute to the development and deployment of affordable, efficient, and lower-carbon emission internal combustion engines globally. With Geely and Renault, we plan to leverage our collective expertise and resources to support ground-breaking advances in both engine and fuel technologies,\u201d Aramco Executive Vice President of Technology & Innovation Ahmad Khowaiter said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Reinventing the engine? <\/strong>Renault Group CEO Luca de Meo described the acquisition as one that created a \u201cdream team born to reinvent the future of ICE and hybrid technologies.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/geely\/\">Geely<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/horse-powertrain\/\">Horse Powertrain<\/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\/renault\/\">Renault<\/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=\"87416\" 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=\"87416\">\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\">MANUFACTURING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/canadas-nextsource-could-build-a-battery-anode-plant-in-saudi-is-actively-screening-potential-investors\/\">\r\n                            Canada-based NextSource Materials could build a battery anode plant in Saudi Arabia, says it is screening potential investors                        <\/a>\r\n                    <\/h3>\r\n\r\n         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  <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1836.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87417\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/canadas-nextsource-could-build-a-battery-anode-plant-in-saudi-is-actively-screening-potential-investors\/1836-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1836.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1836.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1836.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1836.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87416\" class=\"content-area-description single-story post-87416 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-enterpriseam-ksa tag-evs tag-green-economy tag-manufacturing tag-nextsource tag-saudi-canada-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\/.14ca276a-5e5c-4e3c-b794-037257b22aa0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Canada-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nextsourcematerials.com\/\" style=\"\" rel=\"noopener\">NextSource Materials<\/a><\/strong><strong> is looking at Saudi as the potential home for a new <\/strong><strong>battery anode plant.<\/strong> The Toronto-listed company is screening interested investors for its proposed USD 280 mn facility in Saudi as well as other plants at which it would also make anodes for lithium-ion batteries, it said in <a target=\"_blank\" href=\"https:\/\/money.tmx.com\/quote\/NEXT\/news\/8172156183206938\/NextSource_Materials_Announces_Global_Anode_Expansion_Strategy_Update_Economic_Results_of_Proposed_Battery_Anode_Facility_in_Saudi_Arabia_and_Strategic_Partner_Process\" style=\"\" rel=\"noopener\">a filing to the Toronto Stock Exchange<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know about the plant: <\/strong>It could produce up to 20k tonnes of graphite anode active material for lithium-ion batteries per year, according to the filing. NextSource already runs a similar plant in Madagascar that supplies Toyota and Tesla.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>The plant is forecasted to generate some USD 230 mn in annual revenues with an EBITDA of USD 128.5 mn at full capacity. NextSource has held talks with local battery manufacturers and original equipment manufacturers including PIF-backed EV-maker Lucid as well as Ceer, the Kingdom\u2019s first EV brand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where? <\/strong>While it has yet to make a decision to build here, the company named Yanbu Industrial City as its preferred Saudi location, citing its \u201cextensive infrastructure, access to raw materials, commercial zones and shipping routes.\u201d NextSource is now designing the Saudi facility. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Battery charging speed is largely determined by graphite, the anode material, which allows fast charging on high-capacity batteries, making graphite essential in the lithium-ion battery industry that powers EVs. It also has use in aerospace, electronics, and construction. China, Brazil, Madagascar, and India are currently the world's largest graphite producers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NextSouce says a range of factors make Saudi attractive<\/strong>, including financing for up to 75% of the capital cost of the plant at a low interest rate, competitive energy prices, an expedited licensing process, as well as tax incentives and customs-duty exemptions. The company also points to access to skilled labor and Saudi\u2019s position at the crossroads of Africa, Asia, and Europe. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>The company wants to build battery anode plants in more than one country. In addition to Saudi Arabia, it is also looking at Madagascar, the United Arab Emirates, and North America.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>PIF-backed EV players including Lucid have recently partnered with the King Abdulaziz City for Science and Technology (Kacst) to locally <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7ab9650c-bf5d-4f60-800e-b27a1d7048eb\/lucid-to-work-with-kacst-on-joint-research-for%253cmark%253e-ev%253c%2Fmark%253e-infrastructure.-plus:-tourism,-m&a-and-logistics\" style=\"\" rel=\"noopener\">study, test and evaluate<\/a> EV battery technologies. Earlier this year, Saudi company EV Metals Group inked an agreement with Finnish industrial machinery company Metso to establish a lithium chemicals plant in Yanbu Industrial City \u2014 another critical component in lithium-ion batteries. <\/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\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nextsource\/\">NextSource<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-canada-relations\/\">Saudi-Canada 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=\"87418\" 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=\"87418\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/eastern-provinces-al-hokail-polyclinics-gears-up-for-nomu-ipo\/\">\r\n                            Al Hokail Academy Specialized Digital Polyclinics plans to IPO on Nomu with a 29% stake sale                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/eastern-provinces-al-hokail-polyclinics-gears-up-for-nomu-ipo\/\" 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 offering of just over 2 mn ordinary shares is open to qualified institutional and retail investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the company: <\/strong>Al Hokail is one of the top healthcare providers in the Eastern Province and says it has a \u201cmarket-leading position\u201d with offerings including dental, \u201ccosmetic beauty,\u201d day surgery, in-vitro fertilization, and genetic testing. Its seven branches have served over 2 mn clients.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A snapshot of its financial performance:<\/strong> Al Hokail\u2019s net income was down 18.5% y-o-y to SAR 34 mn in FY 2023 while revenues were up 12.1% y-o-y during the period to SAR 248 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The seller: <\/strong>Amjad Abdul Aziz Ibrahim Al Hokail, the company\u2019 sonly substantial shareholder, is selling-down his position to 65% from 93.06%. He will be barred from selling shares for a period of 12 months from the first day of trading. Al Hokail will take home the proceeds from the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IPO timeline:<\/strong> Bankers will take orders from institutional investors starting Sunday, 7 July until Wednesday, 10 July, while the bookbuilding process for retail investors will run on Wednesday, 17 July to Sunday, 21 July. A final allocation of shares is slated for Tuesday, 21 July, with any excess subscription fees refunded no later than Thursday, 25 July. The first day of trading remains contingent on fulfilling regulatory requirements, according to the prospectus.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- Emirates NBD Capital KSA is <\/strong>quarterbacking the transaction as financial advisor and lead Manager. <strong>Khaligyoun Legal Advisors<\/strong> is acting as the legal advisor, while <strong>PwC <\/strong>acts as auditor and <strong>Reflexion <\/strong>as business consultant. <strong>Receiving agents<\/strong> include Riyad Capital, BSF Capital, Alinma Investment, Al Jazira Capital, SNB Capital, ANB Capital, Al Rajhi Capital, Derayah Financial Company, Albilad Capital, SAB Invest, Alistithmar Capital and Alkhabeer Capital. <\/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\/al-hokail-academy-specialized-digital-polyclinics\/\">Al Hokail Academy Specialized Digital Polyclinics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nomu\/\">Nomu<\/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=\"87420\" 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=\"87420\">\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\">BUSINESS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/aramco-accounts-for-more-than-three-quarters-of-saudis-total-intangible-assets\/\">\r\n                            Aramco accounts for more than three quarters of Saudi\u2019s total intangible assets                        <\/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\/30\/aramco-accounts-for-more-than-three-quarters-of-saudis-total-intangible-assets\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/aramco-accounts-for-more-than-three-quarters-of-saudis-total-intangible-assets\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/aramco-accounts-for-more-than-three-quarters-of-saudis-total-intangible-assets\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Aramco accounts for more than three quarters of Saudi\u2019s total intangible assets&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/aramco-accounts-for-more-than-three-quarters-of-saudis-total-intangible-assets\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/aramco-accounts-for-more-than-three-quarters-of-saudis-total-intangible-assets\/&title=Aramco accounts for more than three quarters of Saudi\u2019s total intangible assets\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Aramco+accounts+for+more+than+three+quarters+of+Saudi%E2%80%99s+total+intangible+assets+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F30%2Faramco-accounts-for-more-than-three-quarters-of-saudis-total-intangible-assets%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/aramco-accounts-for-more-than-three-quarters-of-saudis-total-intangible-assets\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1733.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87421\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/aramco-accounts-for-more-than-three-quarters-of-saudis-total-intangible-assets\/1733-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1733.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1733.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1733.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1733.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87420\" class=\"content-area-description single-story post-87420 post type-post status-publish format-standard has-post-thumbnail hentry category-business tag-aramco tag-business tag-enterpriseam-ksa tag-intangible-assets tag-intellectual-property tag-saudi-authority-for-intellectual-property-saip 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\/.619aedd0-3cd3-4559-874b-b12aea100bc8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Saudi Arabia\u2019s intangible assets (IAs) were valued at SAR 8.4 tn in <\/strong><strong>2023 <\/strong>(that\u2019s 74% of the total market capitalization of Tadawul), according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1824.pdf\" style=\"\" rel=\"noopener\">latest report (pdf) by the Saudi Authority for Intellectual Property (Saip)<\/a>. This ratio is on par with IA leaders like the US for whom IA comprises 73% of its corporate market value \u2014 but Saudi has massive concentration in just one company. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco Nation:<\/strong> Oil giant Aramco accounts for 77% (SAR 6.5 tn) of total IAs valued at SAR 8.4 tn. Al Rajhi Banking and Investment Corporation followed at SAR 241 bn, Acwa Power Company at SAR 169 bn, and Saudi Telecoms Company at SAR 128 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No surprise, then, that energy is the standout sector with SAR 6.4 tn in intangible asset <\/strong><strong>value, <\/strong>followed by the banking industry with SAR 472 bn, and the materials sector with SAR 342 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise? What\u2019s an \u201cintangible asset\u201d?<\/strong> That\u2019s fancy accounting-speak for a non-physical asset that has economic value to a company. Think patents, copyrights, trademarks, brand recognition, and goodwill. A tangible asset would be a building, production line, or equipment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sectors that have more intangible than tangible assets: <\/strong>Some 94% of the total assets of the software and services sector are intangible. That figure is 89% in the media and entertainment sector, 88% in the health and and retail sectors, and 86% in the transport sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Disclosed <\/strong><strong>IAs accounted for 10% (SAR 351 bn) of the local sector\u2019s total net assets <\/strong><strong>valued at SAR 3.4 tn last year. <\/strong>Meanwhile<strong>, <\/strong>undisclosed IAs were 24x the size of disclosed IAs at SAR 7.8 tn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the difference? <\/strong>Disclosed IAs are those acquired from other entities and can therefore be officially recognized and separately listed on a company's balance sheet, according to International Financial Reporting Standards (IFRS). Meanwhile, \u201caccounting practices do not permit internally generated intangible assets to be included on the balance sheet under the standard. However, it's important to note that undisclosed intangible assets, such as internally generated goodwill, are often more valuable than disclosed intangible assets.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale: <\/strong>Intangible assets like internally generated goodwill or brand reputation often lack objective, consistent valuation methods, the argument goes, so including them could mislead investors. IFRS does, however, encourage companies to disclose information about this tupe of intangible asset in notes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- We\u2019re getting serious about protecting intellectual property rights:<\/strong> A new unit in the attorney general\u2019s office was announced in February 2024 with the mandate of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1c36bdc8-4d41-4e88-a7a8-08c7cd99920c\/chinese-e-commerce-giant-alibaba-says-it%25e2%2580%2599s-looking-at-saudi-opportunities\" style=\"\" rel=\"noopener\">prosecuting violations of intellectual property rights<\/a> under the trademark and copyright laws. The office will investigate and explore whether to lay charges in cases referred to it by the Saudi Authority for Intellectual Property. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/business\/\">BUSINESS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/intangible-assets\/\">Intangible Assets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/intellectual-property\/\">Intellectual Property<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-authority-for-intellectual-property-saip\/\">Saudi Authority for Intellectual Property (SAIP)<\/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=\"87422\" 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=\"87422\">\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\">BANKING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/local-islamic-banks-standalone-credit-profiles-set-to-remain-robust-next-year-says-fitch-ratings\/\">\r\n                            Local Islamic banks\u2019 standalone credit profiles set to remain robust next year, says Fitch Ratings                        <\/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\/30\/local-islamic-banks-standalone-credit-profiles-set-to-remain-robust-next-year-says-fitch-ratings\/\" 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\/30\/local-islamic-banks-standalone-credit-profiles-set-to-remain-robust-next-year-says-fitch-ratings\/')\">\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\/30\/local-islamic-banks-standalone-credit-profiles-set-to-remain-robust-next-year-says-fitch-ratings\/\">\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=Local Islamic banks\u2019 standalone credit profiles set to remain robust next year, says Fitch Ratings&url=https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/local-islamic-banks-standalone-credit-profiles-set-to-remain-robust-next-year-says-fitch-ratings\/\">\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\/30\/local-islamic-banks-standalone-credit-profiles-set-to-remain-robust-next-year-says-fitch-ratings\/&title=Local Islamic banks\u2019 standalone credit profiles set to remain robust next year, says Fitch Ratings\">\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=Local+Islamic+banks%E2%80%99+standalone+credit+profiles+set+to+remain+robust+next+year%2C+says+Fitch+Ratings+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F06%2F30%2Flocal-islamic-banks-standalone-credit-profiles-set-to-remain-robust-next-year-says-fitch-ratings%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\/30\/local-islamic-banks-standalone-credit-profiles-set-to-remain-robust-next-year-says-fitch-ratings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/403.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87423\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/local-islamic-banks-standalone-credit-profiles-set-to-remain-robust-next-year-says-fitch-ratings\/403-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/403.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"403.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/403.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/403.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87422\" class=\"content-area-description single-story post-87422 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-banking tag-banks tag-enterpriseam-ksa tag-fitch-ratings tag-islamic-banks 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\/.df3dbfba-bbf0-4f5d-a057-23014f86ea5d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Saudi\u2019s Islamic banks\u2019 standalone credit profiles are expected to remain robust this year <\/strong><strong>and in 2025 <\/strong>on the back of high oil prices and favorable operating conditions, <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2538011\/business-economy\" style=\"\" rel=\"noopener\">Arab News<\/a> reported, citing a report by Fitch Ratings. However, a higher credit growth would press banks\u2019 capital, funding and liquidity, pushing them to diversify their funding bases through wholesale funding which includes sukuk issuance. It said that while sukuk issuance \u201cwas becoming a bigger part of the funding mix\u201d, it expects deposits to remain the primary source of funding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Islamic banks were highly profitable last year<\/strong>, outperforming their traditional banking peers due to high margins supported by lower funding costs, according to the report. Their robust retail franchises also helped lure in a larger base of non-profit-bearing deposits, allowing them to sustain profitability despite ongoing challenging financial conditions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A look at funding + liquidity:<\/strong> Fitch Ratings said customer deposits accounted for 80% of funding for Islamic banks which is slightly lower than the 84% reported in traditional banks. It saw the banks\u2019 financing activities grow at a faster pace than their deposit base after their average financing-to-deposits ratio rose to 102% last year.<\/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\/banking\/\">BANKING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/banks\/\">Banks<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fitch-ratings\/\">Fitch Ratings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/islamic-banks\/\">Islamic Banks<\/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=\"87424\" 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=\"87424\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/climate-change-emerges-as-main-culprit-behind-hajj-deaths\/\">\r\n                            Climate change emerges as main culprit behind hajj deaths                        <\/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\/30\/climate-change-emerges-as-main-culprit-behind-hajj-deaths\/\" 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 report claims that human-caused climate change increased the temperatures by 2.5\u00b0C to reach 51.8\u00b0C in Makkah. \u201cWe interpret the Saudi Arabia heatwave as a very uncommon event whose characteristics can mostly be ascribed to human driven climate change,\u201d Davide Faranda, one of the report\u2019s authors said, linking it to \u201cfossil fuel burning.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.foxnews.com\/opinion\/why-saudi-arabia-matters-more-than-ever-us-volatile-middle-east\" style=\"\" rel=\"noopener\">Fox News<\/a><\/strong><strong> is out with an opinion piece by Neom advisory board member Ali <\/strong><strong>Shihabi on the importance of the Kingdom\u2019s role in what he describes as a \u201cvolatile region.\u201d<\/strong> He argues that a sought defense pact between Riyadh and Washington \u201cwould serve to keep the GCC solidly in the US orbit in an increasingly multipolar world.\u201d \u201cThese are, after all, states with the resources and the will to actively support the United States in upholding the US.-led regional order,\u201d Shihabi writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Also gaining some traction in the foreign press: <\/strong><\/p>\n<ul>\n<li>The performances of some <strong>Saudi Premier League<\/strong> players in the <strong>Euro 2024<\/strong> is turning heads, beating perceptions about the level of competition in the SPL which is usually deemed subpar. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/soccer\/euros-form-saudi-based-stars-tests-perceptions-slide-standard-2024-06-28\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/li>\n<li><strong>Extreme H<\/strong> has unveiled the first hydrogen powered racing car, with the world\u2019s first hydrogen race series set for an opener in Saudi in April next year. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/formula1\/extreme-h-presents-hydrogen-powered-race-car-fresh-focus-2024-06-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<\/ul>\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\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/extreme-h\/\">Extreme H<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/neom\/\">NEOM<\/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-premier-league\/\">Saudi Premier League<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/us\/\">US<\/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=\"87426\" 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=\"87426\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/electrical-interconnection-project-between-central-southern-regions-goes-live\/\">\r\n                            Electrical interconnection project between central, southern regions goes live                        <\/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\/30\/electrical-interconnection-project-between-central-southern-regions-goes-live\/\" 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 project, which spans 830-km, includes 2.1k antenna towers and electrical transformers with a capacity exceeding 2k megavolt-amperes. It passes through the main substations in Al Kharj, Al Aflaj, Wadi Al-Dawasir, and Bisha.<\/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\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- SAL <\/strong><strong>Saudi Logistics has inked an agreement with Air China that will see the <\/strong><strong>Tadawul-listed cargo firm offer air cargo handling services to the Chinese flag airline<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2130344\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported. It will also see SAL provide Air China with ground transportation connections in airports in the Kingdom and GCC. <\/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\">TRADE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Kingdom\u2019s trade balance was up 36% m-o-m to achieve a surplus of SAR 41 bn <\/strong><strong>surplus in April 2024 <\/strong>\u2014 its highest recorded level this year, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2130077\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported, citing figures from state statistics agency Gastat. It grew 48.5% since the start of the year. Oil exports accounted for 78% of total exports at SAR 79.3 bn in April, while non-oil exports came in at SAR 16.2 bn to account for 16% of total exports. <\/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\">COMMODITIES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Third wheat tender of 2024: <\/strong>The General Food Security Authority (GFSA) has issued a tender to purchase 595k tons of wheat in its third tender for 2024, it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/GFSA_KSA\/status\/1806257772498956644\" style=\"\" rel=\"noopener\">post on X<\/a>. Shipments are expected to arrive between September to December 2024 across four of the Kingdom\u2019s ports. European traders said results are expected on Monday, 1 July, <a target=\"_blank\" href=\"https:\/\/www.xm.com\/au\/research\/markets\/allNews\/reuters\/saudi-arabia-issues-tender-to-buy-595000-tons-of-wheat-53869781\" style=\"\" rel=\"noopener\">Reuters<\/a> reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>First Mills secures SAR 150 mn funding:<\/strong> Tadawul-listed First Mills has inked a SAR 150 mn loan agreement with the Saudi Industrial Fund (SIDF), which will be used to fund the milling company\u2019s operations and capital needs, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNc4IwEP0tPXjULFKR9pbWKer4hWhVLk6IKzIDhAlBan99QZxxtNqxmRyyL--9fbvEJUvixmwf-EwFImZhUa9cY92iBjS7JoyhO3sHAxzLmM9MrdM0yOKSYA4tA-wRtcfNdgusTyDuv_TgTFpgf0yG-gCmYIHxmB7uHPpAf_eSMqYv7SJB_83qDahuGu1rwo0Rr5r8nuFI-CNkn7h-KLxq4TT2dNMnrsQtSpSNTBbwTqkkfa1BDfI8b_hC-CE2uIhqcEuyE6kiy0smcTA-rqt9dx89jSwkpiKTHMnUR0XjWGQxxwhjNQhS1WGKEZszvsMB7jGcMB-JU87HNvsgFTItWWRVIilyJWQn6W1O9SHyRFi9Eyk2GVezQ4IVoERhfXonhakTfBeVBpURk3x35pb_oyzyUHY8snouoa0U0dmAlal5mbkSaeu6dmyCX8o5mlW8TaGYoAxEmTCJ5vMlBL266x10PaKRqV_enD79AHgu0oI!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMjgzL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMDEy\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The two-year loan will be repaid in four installments.<\/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\">TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Communications and IT Minister Abdullah Al Sawaha discussed with US officials in <\/strong><strong>Washington expanding a strategic partnership between the Kingdom and the US in the IT sector<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2130587\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported. He also mulled boosting the digital economy and advancing the space sector at home.<\/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>Dammam-based Canadian Medical Center (CMC) has inked a SAR 16.5 mn contract with <\/strong><strong>Johns Hopkins Aramco Healthcare<\/strong>, a joint venture between Aramco and Johns Hopkins Medicine, to operate nine of its healthcare clinics for two years, CMC said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/42cck5m9\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. CMC is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c5689236-0861-464b-b899-f031ab3a6c67\" style=\"\" rel=\"noopener\">planning a transition<\/a> to the main market Tadawul as it pushes ahead with an ambitious expansion plan that will see it move into new segments of the industry.<\/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>#1- Three funds have obtained regulatory approval to be listed after the Capital Market <\/strong><strong>Authority (CMA) gave their fund managers the green light.<\/strong> Those include the <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3585.aspx\" style=\"\" rel=\"noopener\">Sedco Capital IPO Fund<\/a>, <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3584.aspx\" style=\"\" rel=\"noopener\">Al Rajhi Petrochemical Fund<\/a> and <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3583.aspx\" style=\"\" rel=\"noopener\">Al Rajhi Large-Cap Fund<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Khobar-based boutique investment bank <\/strong><strong><a target=\"_blank\" href=\"https:\/\/musharaka.sa\/en\/\" style=\"\" rel=\"noopener\">Musharaka Capital<\/a><\/strong><strong> has dissolved its Majediah <\/strong><strong>Real Estate Fund I<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1736779\" style=\"\" rel=\"noopener\">a statement to Argaam<\/a>. It sold a total of 110 residential units in two of the fund\u2019s projects in Riyadh, achieving a 56% yield within three years of the fund\u2019s launch. The fund was set up as a Shariah-compliant private closed-end real estate investment fund.<\/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\/air-china\/\">Air China<\/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\/canadian-medical-center-cmc\/\">Canadian Medical Center (CMC)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/first-mills\/\">First 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-->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87428\" 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=\"87428\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/ma-activity-is-off-track-globally-this-year\/\">\r\n                            M&amp;A activity is off-track globally this year                        <\/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 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     <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/ma-activity-is-off-track-globally-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2089.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87429\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/06\/30\/ma-activity-is-off-track-globally-this-year\/2089-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2089.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2089.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2089.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2089.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87428\" class=\"content-area-description single-story post-87428 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets tag-ma 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\/.9c2b19b5-2538-47ca-ad9e-e124aa8e74f1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Global M&A activity has yet to show \u201ca sustained recovery\u201d<\/strong> despite a surge in transaction volumes at the start of the year, according to data compiled by <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-27\/bankers-say-2024-m-a-is-just-good-when-it-should-ve-been-great?srnd=markets-vp\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. \u201cThe year has been good so far, but all indications suggest it should have been great,\u201d Guggenheim Securities Global Head of M&A Eric Rutkoske told the business information service, adding that \u201cthere has been a deceleration\u201d in activity despite \u201cmacro indicators actually [getting] better throughout the year.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Increased M&A activity came on the back of expectations that central banks would slash interest rates, <\/strong>but faltered after the Federal Reserve projected a single rate cut this year. \u201cIt\u2019s really wait-and-see mode until we understand what direction of travel we\u2019re in and what that means for the broader economy. That\u2019s what\u2019s keeping some folks on the sidelines,\u201d JPMorgan Chase & Co Co-Head of North America M&A Ben Carpenter said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Global M&A transactions stood at USD 1.4 tn in 1H 2024, <\/strong>up 14% y-o-y, but still over USD 300 bn below the 10-year average for the first half of the year. The energy sector stood center in most M&A activity in 2024, with transaction values in the sector up by over 40% during the year. Technology companies were also \u201cheavily targeted by both strategic and private equity buyers,\u201d while dealmaking in healthcare came to a standstill in favor of smaller private transactions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Higher borrowing costs and rising stock markets are to thank for halted negotiations:<\/strong> \u201cBuyer and seller valuation mismatches have narrowed but they haven\u2019t been completely bridged, and while capital is increasingly available, it\u2019s still very expensive,\u201d said Evercore Inc Senior Managing Director and Co-Head of US Investment Banking Naveen Nataraj.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s unlikely that activity will pick up again before November, <\/strong>with bankers and lawyers predicting that some companies will wait for the results of the US election in November before deciding whether or not to pursue transactions. \u201cThere\u2019s a view that the regulatory policy could change meaningfully so there are a lot of larger transactions that companies may wish to start under a new administration,\u201d said Rutkoske.<\/p>\n<p><a target=\"_blank\" id=\"t.3018cb02578009391c7c13257d90bbed286b7379\" 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<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:140.2pt;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:138.8pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,730<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: -2.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.2pt;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:138.8pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,470<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: -5.2%)<\/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:140.2pt;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:138.8pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,302<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +7.2%)<\/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:140.2pt;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:138.8pt;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:139.5pt;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:140.2pt;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:138.8pt;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:139.5pt;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:140.2pt;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:138.8pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,766<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.0% (YTD: +11.6%)<\/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:140.2pt;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:138.8pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,061<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: -5.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.2pt;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:138.8pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,030<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: -0.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-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:140.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&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:138.8pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,460<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +14.5%)<\/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:140.2pt;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:138.8pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,164<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +5.6%)<\/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:140.2pt;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:138.8pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,894<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +8.2%)<\/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:140.2pt;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:138.8pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 85.00  <\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-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:140.2pt;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:138.8pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.60  <\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.1%<\/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:140.2pt;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:138.8pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,339.60<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:140.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.coindesk.com\/price\/bitcoin\" style=\"\" rel=\"noopener\">BTC<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:138.8pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 60,874<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: +44.9%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE 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 rose 0.6% on Thursday <\/strong>on turnover of SAR 6.6 bn. The index is down 2.0% 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> Talco (+10.0%), Rasan (+8.7%) and Saudi Ceramics (+6.5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Al Baha (-7.7%), Al Khaleej (-4.0%) and Anaam Holding (-3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE 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> fell 0.2% on Thursday <\/strong>on turnover of SAR 38.7 mn. The index is up 7.2% 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> Al Rasheed (+8.8%), Armah (+8.8%) and Mayar (+6.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Knowledge (-8.3%), Saudi Top (-7.6%) and Burgerizzr (-6.5%)<\/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\">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 Saudi Ceramic have approved the board\u2019s <\/strong><strong>recommendation to increase its capital by 25% to SAR 1 bn<\/strong>, according to 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\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMDQwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMDI0\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Saudi Ceramic will finance the increase by capitalizing SAR 200 mn in retained earnings and granting one share for every owned share by shareholders. The capital increase comes under the ceramic manufacturer\u2019s expansion plans.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Shareholders of Al Sagr Cooperative Ins. have approved the board\u2019s recommendation to <\/strong><strong>more than double its capital to SAR 300 mn <\/strong>through a rights issuance, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1827.pdf\" style=\"\" rel=\"noopener\">regulatory filing (pdf)<\/a>. The capital increase aims to support the company\u2019s future plans, enhance the company's solvency margin, and meet the minimum capital requirements for ins. Companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Shareholders of Tadawul-listed Tabuk Cement have approved the board\u2019s <\/strong><strong>recommendation to distribute SAR 22.5 mn in dividend <\/strong>at SAR 0.25 per share for FY 2023, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1826.pdf\" style=\"\" rel=\"noopener\">regulatory filing (pdf)<\/a>. The distribution date will be announced at a later date. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Shareholders of Nomu-listed International Human Resources have approved the board\u2019s <\/strong><strong>recommendation for a SAR 1.2 mn dividend distribution <\/strong>at SAR 0.025 per share for FY 2023, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1828.pdf\" style=\"\" rel=\"noopener\">regulatory filing (pdf)<\/a>. The distribution date is set for Sunday, 21 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\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma\/\">M&amp;A<\/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=\"87430\" 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\/30\/87430\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87430\" class=\"content-area-description single-story post-87430 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>21-30 July (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.icho2024.sa\/en\/Pages\/default.aspx\" style=\"\">International Chemistry Olympiad<\/a><\/span><span style=\"font-weight:400;\">, King Saud University, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-15 August (Monday-Thursday): The Saudi Food Expo, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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>27-29 August (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudifashiontexexpo.com\/\" style=\"\">Saudi Fashiontex 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;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-4 September (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudilogisticsexpo.com\/\" style=\"\">Saudi Warehousing & Logistics 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>2-4 September (Monday-Wednesday):  <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiwoodexpo.com\/\" style=\"\">Saudi Wood 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>9-11 September (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.internationalmanufacturingcongress.com\/\" style=\"\">International Manufacturing Congress<\/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 September (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.marketsgroup.org\/forums\/Saudi-Arabia-Investors-Forum-2024\" style=\"\">Saudi Arabia Investors Forum<\/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:\/\/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>16-19 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.foodexsaudiexpo.com\/?gad_source=1&gclid=Cj0KCQjwsuSzBhCLARIsAIcdLm7BzGZMtFoN5ZBuM4XYhTt2S_vcu4EXhoXp4W0W6h0ZQatZb4yjLQ0aAnZlEALw_wcB\" style=\"\">Foodex Saudi<\/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>29 September (Sunday) - 1 October (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.jeddahconstruct.com\/\" style=\"\">Jeddah Construct Expo<\/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;\">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>5-7 October (Saturday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/meetes-sa.com\/\" style=\"\">Middle East Education & Training Exhibition 2024<\/a><\/span><span style=\"font-weight:400;\">, Jeddah. <\/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>21-22 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/app.glueup.com\/event\/the-aussie-expo-riyadh-2024-eoi-109871\/\" style=\"\">Aussie Expo<\/a><\/span><span style=\"font-weight:400;\">, King Abdullah Financial District Conference Center, 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>4-7 November (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-build.com\/\" style=\"\">Saudi Build<\/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>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>1 December (Sunday): <\/span><span>Opec+<\/span><span style=\"font-weight:400;\"> 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 style=\"font-weight:400;\">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>Aramco to buy 10% of Renault, Gelly JV | Bankers aren\u2019t propping up Aramco shares | NextSource could build battery anode plant here | Al Hokail Polyclinics gets ready for IPO<\/p>\n","protected":false},"featured_media":87410,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-87409","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"35fb6fd5-377a-4fb0-ba8e-27934489ac3a","teaser":"Aramco to buy 10% of Renault, Gelly JV | Bankers aren\u2019t propping up Aramco shares | NextSource could build battery anode plant here | Al Hokail Polyclinics gets ready for 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