{"id":87495,"date":"2024-07-02T00:00:00","date_gmt":"2024-07-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=87495"},"modified":"2025-12-14T18:27:25","modified_gmt":"2025-12-14T18:27:25","slug":"pif-swings-to-profitability-in-2023-as-revenues-more-than-double-report","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/pif-swings-to-profitability-in-2023-as-revenues-more-than-double-report\/","title":{"rendered":"PIF swings to profitability in 2023 as revenues more than double -report"},"content":{"rendered":"<section id=\"87497\" 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=\"87497\">\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\/07\/02\/saudi-investment-bank-says-it-is-not-in-sale-talks\/\">\r\n                            THIS MORNING: Saudi Investment Bank says it is not in sale talks                        <\/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\/07\/02\/saudi-investment-bank-says-it-is-not-in-sale-talks\/\" 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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He said Aramco discovered two unconventional gas fields, a reservoir of Arabian light crude oil, two natural gas fields, and two natural gas reservoirs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we don\u2019t know: The size of the discoveries. <\/strong>The ministry made no mention of estimated reserves in place. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND A QUICK PROGRAMMING NOTE- <\/strong>EnterpriseAM Saudi is off this coming Thursday, 4 July. We take a small handful of publication breaks in summer, around holidays, and in the final week of the year to retool and plan new things. You\u2019ll see us in your inbox tomorrow morning, and we\u2019re then off until Sunday, 7 July. <\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> Housing Minister Majed Al Hogail is in Turkey for a three-day visit<\/strong> that will see talks with Turkish officials in real estate development, infrastructure, and waste management and recycling, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2131718\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reports. He last visited Ankara a year ago, when SAudi and Turkish companies inked a series of cooperation agreements.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Expect windy weather in <strong>Riyadh<\/strong> with a daytime high of 44\u00b0C. <strong>Madinah<\/strong> will also see wind and a high of 40\u00b0C, while Jeddah can expect a daytime high of 41\u00b0C. Look for overnight lows to skim 29\u00b0C in all three cities.<\/p>\n<p class=\"tag-border-left\">HAPPENING TOMORROW-<\/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 tomorrow<\/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 class=\"tag-border-left\"> M&amp;A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a>  #1- Saudi Investment Bank says it isn\u2019t in talks to sell a stake to Kuwait Finance House:<\/strong> The Saudi Investment Bank (Saib) said it was not involved in \u201cany discussions in relation to any mergers or acquisitions,\u201d 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\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzEwMzAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMTMw\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> by the lender. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>The statement follows <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/706b54fb-d25a-4b22-8dc6-51d901e25d64\" style=\"\" rel=\"noopener\">whispers by Bloomberg last week<\/a> that Kuwait\u2019s largest bank was considering the acquisition of a significant stake in Saudi Investment Bank. KFH later <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/af606559-333c-470a-883a-24a5e4f245a9\" style=\"\" rel=\"noopener\">issued a statement<\/a> saying only that it was \u201cconducting careful studies\u201d of a potential expansion tinto Saudi, including looking at \u201cmore than one bank\u201d in which it might take a stake. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wakecap.com\/\" style=\"\" rel=\"noopener\">WakeCap<\/a><\/strong><strong> has acquired Silicon Vallye-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/crews.bycore.com\/\" style=\"\" rel=\"noopener\">Crews by Core<\/a><\/strong> as WakeCap looks to set up an R&amp;D base in the US, WakeCap said in a <a target=\"_blank\" href=\"https:\/\/www.wakecap.com\/news-events\" style=\"\" rel=\"noopener\">statement<\/a>. Both companies offer digital project management solutions for companies working on megaprojects. WakeCap already operates in the US, Saudi Arabia, UAE, and Japan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we don\u2019t know: <\/strong>Just how much of Crews by Core will WakeCap acquire and what that stake is worth. WakeCap\u2019s clients include Aramco, Emaar, Adnoc, Enppi, and Besix, among others. Its CEO is Hassan Albalawi, a member of the prominent Saudi family. <\/p>\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt4\"><\/a>  #1- <\/strong><strong>Aramco dividends push Sama\u2019s foreign reserves to 18-month high: <\/strong>The Saudi Central Bank\u2019s (Sama) net foreign assets jumped 5% y-o-y in May to SAR 1.67 tn \u2014 its highest since November 2022, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/65.pdf\" style=\"\" rel=\"noopener\">Sama\u2019s figures (pdf)<\/a>. The increase was driven by state-owned Aramco\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e07c7da8-cdae-4c02-8d5a-33637252b1b9\/%253cmark%253earamco%253c%2Fmark%253e-reports-lower-net-income-in-1q-2024,-but-looks-on-track-to-boost-this-year%25e2%2580%2599s-dividend\" style=\"\" rel=\"noopener\">huge dividend payments<\/a> during 1H 2024, which included USD 25 bn paid in May to the government, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-01\/saudi-reserves-jump-to-18-month-high-thanks-to-aramco-dividends\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Sama receives the government\u2019s dividends from Aramco.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Spending by foreign tourists in Saudi grew 22.9% y-o-y to SAR 45 bn (c. USD 12 bn) <\/strong><strong>in 1Q <\/strong><strong>2024 \u2014 the <\/strong><strong>second-h<\/strong><strong>ighest quarterly leve<\/strong><strong>l ever<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4308714\/%D8%A5%D9%86%D9%81%D8%A7%D9%82-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%AD-%D8%A7%D9%84%D8%A3%D8%AC%D8%A7%D9%86%D8%A8-%D8%A8%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%8A%D8%B1%D8%AA%D9%81%D8%B9-23-%D8%A8%D8%A7%D9%84%D8%B1%D8%A8%D8%B9-%D8%A7%D9%84%D8%A3%D9%88%D9%84-%D9%84%D8%A3%D9%83%D8%AB%D8%B1-%D9%85%D9%86-12-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1\/\" style=\"\" rel=\"noopener\">Mubasher<\/a> reported, citing data compiled from Saudi Central Bank (Sama). The record for spending in a single quarter stands at SAR 48.9 bn in 2Q 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi tourists are spending more abroad: <\/strong>Spending by Saudi tourists abroad was up 3.9% y-o-y during the quarter to c. SAR 21 bn, and increase from SAR 20.2 bn in the same period last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT: <\/strong>2023 was a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/54d511e4-9644-436e-bb10-d0ab5e451025\" style=\"\" rel=\"noopener\">\u201crecord-breaking\u201d year<\/a> for Saudi\u2019s travel and tourism industry, with the sector growing more than 32% to contribute a record SAR 444.3 bn to the Kingdom\u2019s GDP. Tourist spending was also on the rise, with spending by foreign visitors reaching a record SAR 227.4 bn, while local visitors\u2019 spending grew 21.5% y-o-y in 2023 to SAR 142.5 bn.<\/p>\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco maintained the official selling prices (or \u201cOSP,\u201d in industry-speak) for liquefied <\/strong><strong>petroleum gas in July<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-aramco-holds-osps-lpg-july-steady-sonatrach-raises-it-by-11-18-2024-07-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported. July OSPs for propane and butane were unchanged at USD 580 per metric ton and USD 565 per ton.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to subscribe? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday before 7am Riyadh time \u2014 without charge, thanks to our friends at Cenomi.<br \/><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US, British and French politics continue to push markets off the front pages <\/strong>of the global business press. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not much has changed since yesterday: <\/strong>Democrats are still losing it over contentions that Joe Biden is too old to run for president. Top party officials held a call with key donors late yesterday to try to shore up their financial base. <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b411ba0e-62f0-4152-8f61-9a1506f4ac5f\" style=\"\" rel=\"noopener\">The FT sums up<\/a> the current state of the debate nicely: There\u2019s a growing sense among \u201cdonors, consultants, and operatives that <strong>Biden is no longer fit to challenge Donald Trump for the presidency and should make way for a younger candidate<\/strong>.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And it could get messy<\/strong>, the paper says, noting there\u2019s \u201canger at the president\u2019s family and close circle of advisers for concealing his condition and their unwillingness to countenance his exit from White House race.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Across the pond: <\/strong>Keir Starmer\u2019s Labour party <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-01\/bloomberg-uk-poll-of-polls-labour-slips-while-keeping-big-lead?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">still leads<\/a> Rishi Sunak\u2019s Conservatives by 20 points or so in polls. And the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/30\/world\/europe\/france-elections.html\" style=\"\" rel=\"noopener\">horse-trading continues in France<\/a>, as other parties look to block the far-right Rassemblement National from running away with parliament in second-phase voting due next week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- The US Supreme Court ruled that Trump has broad immunity <\/strong>for official (but not necessarily personal) actions he took while in office \u2014 a finding that <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-01\/supreme-court-partially-backs-trump-on-immunity-delaying-trial?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">almost ensures<\/a> he won\u2019t face trial before November on charges that he tried to usurp the 2020 election. <\/p>\n<p class=\"tag-border-left\">ENTERTAINMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The eighth season of MBC\u2019s Arabic-language version of Top Chef will move to Neom<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.mbc.net\/news\/40\" style=\"\" rel=\"noopener\">statement<\/a>. Neom Media Village will be home to the show for the next few months. The new season of the culinary competition will have an ecological spin and will again feature guest judges from Michelin-starred restaurants. The show will air on MBC Group properties later this year. <\/p>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This year\u2019s edition of security-focused expo <\/strong><strong><a target=\"_blank\" href=\"https:\/\/intersec-ksa.ae.messefrankfurt.com\/ksa\/en.html\" style=\"\" rel=\"noopener\">Intersec Saudi Arabia will<\/a><\/strong><strong> open from <\/strong><strong>Tuesday, 1 October to Thursday, 3 October <\/strong>at the Riyadh International Convention and Exhibition Center. The expo is expected to bring in over 350 exhibitors from 27 countries and 17k visitors and showcase latest technologies in security and safety industries by global suppliers.<\/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\/banking\/\">BANKING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/kuwait-finance-house\/\">Kuwait Finance House<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/net-foreign-assets\/\">net foreign assets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-central-bank-sama\/\">Saudi Central Bank (SAMA)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-investment-bank\/\">Saudi Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/wakecap\/\">Wakecap<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87499\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15542.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87500\" 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=\"87500\">\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\">PIF WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/02\/pif-swings-to-profitability-in-2023-as-revenues-more-than-double-report\/\">\r\n                            PIF swings to profitability in 2023 as revenues more than double -report                        <\/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\/07\/02\/pif-swings-to-profitability-in-2023-as-revenues-more-than-double-report\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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 <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=PIF+swings+to+profitability+in+2023+as+revenues+more+than+double+-report+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F02%2Fpif-swings-to-profitability-in-2023-as-revenues-more-than-double-report%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\/07\/02\/pif-swings-to-profitability-in-2023-as-revenues-more-than-double-report\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1365.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87501\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/02\/pif-swings-to-profitability-in-2023-as-revenues-more-than-double-report\/1365-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1365.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1365.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1365.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1365.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87500\" class=\"content-area-description single-story post-87500 post type-post status-publish format-standard has-post-thumbnail hentry category-pif-watch tag-enterpriseam-ksa tag-pif-watch tag-public-investment-fund-pif wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.ed08f039-b339-4882-b31e-df76f660a38e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Public Investment Fund made a profit of nearly USD 37 bn last year <\/strong>after having posted a USD 15.6 bn loss the year before, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-arabias-sovereign-wealth-fund-swings-368-bln-profit-2023-2024-07-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, saying <strong>revenues more than doubled<\/strong> year y-o-y to more than USD 88 bn. \u201cThe rise in revenues was driven by factors including an improvement in both investment and non-investment activities in sectors like banking, telecommunications and gaming,\u201d the newswire said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Still waiting for details: <\/strong><span style=\"background-color: transparent;\">PIF had not posted its 2023 annual report online as of our dispatch time this morning, and news of its financial performance last year hasn\u2019t made state news agency SPA or other government-owned media organizations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- PIF maintained its top spot of the global sovereign fund league table<\/strong> <strong>in <\/strong><strong>1H2024.<\/strong> Together with its regional peers, PIF accounting more than half of the USD 96 bn deployed by the world\u2019s sovereign wealth funds in the first half of this year, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-01\/mideast-domination-of-sovereign-backed-deals-at-15-year-high\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported, citing data from Global SWF. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>Data shows that PIF, the Abu Dhabi Investment Authority (Adia), and Qatar Investment Authority (QIA) account for 54% of total investment by the world\u2019s SWFs in the first half. Investment by PIF and other regional funds were down year-on-year in absolute terms during the reporting period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A windfall from oil: <\/strong>\u201cWhile the market uncertainty has invited global funds to be cautious, Gulf-based and particularly, Abu Dhabi-based funds, have received significant windfall from oil and are more active than ever,\u201d Global SWF Managing Director Diego Lopez said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> PIF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0f958dca-07ac-4151-85cb-8b51c097592f\" style=\"\" rel=\"noopener\">ranked first<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0f958dca-07ac-4151-85cb-8b51c097592f\" style=\"\" rel=\"noopener\">in 202<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0f958dca-07ac-4151-85cb-8b51c097592f\" style=\"\" rel=\"noopener\">3 Global SWF<\/a> report with USD 31.6 bn worth of investment (+33% y-o- bn. PIF last year wrapped-up some 49 transactions, dethroning Singapore's sovereign wealth fund Government of Singapore Investment Corporation (GIC).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>PIF has been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bdd2d110-2781-42a4-aee8-ee2546e9004e\" style=\"\" rel=\"noopener\">considering in recent months<\/a> more global bond sales and IPOs as it looks to ramp up the pace of investment. The Kingdom\u2019s treasury is prepared to run deficits through 2026 and pace out the implementation of some aspects of select Vision 2030 projects, putting more pressure on PIF to deploy at home. The fund has raised USD 7 bn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ba2ec221-20e3-415c-ae7a-0392be183bb4\" style=\"\" rel=\"noopener\">since the start of the year<\/a> from two debt sales. Its GBP 650 mn offering \u2014 which was the second GBP-denominated debt issuance in Saudi history \u2014 was more than <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bdd2d110-2781-42a4-aee8-ee2546e9004e\" style=\"\" rel=\"noopener\">6x oversubscribed<\/a> in June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM PIF-<\/strong> The fund ranked first in the region and second globally in governance, sustainability, and resilience (GSR) in a <a target=\"_blank\" href=\"https:\/\/globalswf.com\/gsr\" style=\"\" rel=\"noopener\">Global SWF ranking<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/newswire\/2024\/pif-ranks-second-globally-for-governance-sustainability-and-resilience\/\" style=\"\" rel=\"noopener\">statement by the PIF<\/a>. It moved up five places in the ranking to score at 96%, highlighting the fund\u2019s role \u201cas an impactful and responsible investor, with best-in-class practices focused on sustainability, transparency, ethics and good governance,\u201d according to the statement.<\/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\/pif-watch\/\">PIF watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87502\" 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=\"87502\">\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\">REAL ESTATE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/02\/dar-global-to-build-a-trump-tower-in-jeddah\/\">\r\n                            Dar Global to build a Trump Tower in Jeddah                        <\/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\/07\/02\/dar-global-to-build-a-trump-tower-in-jeddah\/\" 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\/07\/02\/dar-global-to-build-a-trump-tower-in-jeddah\/')\">\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\/07\/02\/dar-global-to-build-a-trump-tower-in-jeddah\/\">\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=Dar Global to build a Trump Tower in Jeddah&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/02\/dar-global-to-build-a-trump-tower-in-jeddah\/\">\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\/07\/02\/dar-global-to-build-a-trump-tower-in-jeddah\/&title=Dar Global to build a Trump Tower in Jeddah\">\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=Dar+Global+to+build+a+Trump+Tower+in+Jeddah+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F02%2Fdar-global-to-build-a-trump-tower-in-jeddah%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\/07\/02\/dar-global-to-build-a-trump-tower-in-jeddah\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/148.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87503\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/02\/dar-global-to-build-a-trump-tower-in-jeddah\/148-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/148.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"148.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/148.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/148.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87502\" class=\"content-area-description single-story post-87502 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-dar-al-arkan tag-dar-global tag-enterpriseam-ksa tag-real-estate tag-trump-organization 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\/7\/.b408651b-be6a-4f19-9d99-1cd2274f67e8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Jeddah will be home to the first Trump Tower in Saudi:<\/strong> Dar Global, the international arm of one the Kingdom\u2019s largest listed real estate developers, Dar Al Arkan, signed an agreement with the Trump Organization to build a Trump Tower in Jeddah, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/115.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. It would be Dar Global\u2019s debut project in Jeddah, according to the statement, as the luxury real estate venture looks to expand its offerings across the Kingdom. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- This is the Trump Organization\u2019s second venture in the region with Dar<\/strong>, with the announcement of the project coming days <a target=\"_blank\" href=\"https:\/\/www.omanobserver.om\/article\/1155550\/business\/tourism\/dar-global-launches-500-million-trump-international-oman\" style=\"\" rel=\"noopener\">after the two<\/a> unveiled a USD 500 mn Trump International hotel project in Oman. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Who\u2019s doing what: <\/strong><span style=\"background-color: transparent;\">Dar will build and market the tower, to which the Trump organization is lending its name. The facility will also include a Trump-branded golf course.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>Neither the Trump Organization nor Dar Global made public the financial details of the Jeddah project. Dar Global partners with high-profile brands including Missoni, Trump, and Lamborghini. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dar Global\u2019s shares on the London Stock Exchange are tightly held <\/strong>and did not trade yesterday, <a target=\"_blank\" href=\"https:\/\/www.londonstockexchange.com\/stock\/DAR\/dar-global-plc\/trade-recap\" style=\"\" rel=\"noopener\">LSE market date shows<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trump-organization\/\">Trump Organization<\/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=\"87504\" 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=\"87504\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/02\/baker-mckenzie-acquires-majority-stake-in-local-affiliate\/\">\r\n                            Baker McKenzie acquires majority stake in local affiliate as it looks to boost Saudi operations                        <\/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\/07\/02\/baker-mckenzie-acquires-majority-stake-in-local-affiliate\/\" 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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Partners<\/strong>, renaming it as Baker McKenzie Law Firm, <a target=\"_blank\" href=\"https:\/\/www.bakermckenzie.com\/en\/newsroom\/2024\/06\/bm-acquires-legal-advisors\" style=\"\" rel=\"noopener\">according to a statement<\/a>. The US law firm also said it has obtained a regional HQ license from the Investment Ministry.<\/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 direct acquisition of a majority stake in Bajer\u2019s longtime Riyadh-based associate will see it operate in the Kingdom under the Baker McKenzie brand, the statement said, without providing further details on the size of the stake that was acquired or the value of the transaction. Baker McKenzie\u2019s regional HQ will be based in Riyadh and will be run by Managing Partner Karim Nassar (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/karim-nassar-6069566\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Linkedin<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Baker McKenzie already has a footprint in Saudi: <\/strong><span style=\"background-color: transparent;\">The US-based firm has been active in Saudi and the MENA region since the 1970s either directly or indirectly through local affiliates, according to the statement. It currently operates eight offices in the region, including two in Riyadh and Jeddah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cOur regional headquarter in Riyadh entrenches our long-established and market-leading presence in Saudi Arabia and the MENA region\u2026We are also thrilled to have acquired an equity interest in Legal Advisors, after so many years of seamless collaboration with them,\u201d Nassar said. Riyadh-based partner Abdulrahman AlAjln said the acquisition would \u201ccontribute to the transfer of international legal knowledge and expertise to the Kingdom of Saudi Arabia and the region.\"<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Making it easier for foreign firms to open here: <\/strong>More global law firms <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e59c67b4-c089-43e9-8edc-9fdb13d2fcfc\" style=\"\" rel=\"noopener\">have been encouraged<\/a> to open offices in the Kingdom after the government <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/legalindustry\/two-us-law-firms-push-into-saudi-arabia-under-new-attorney-rules-2024-04-25\/\" style=\"\" rel=\"noopener\">removed a requirement<\/a> last year requiring the firms to work through affiliated Saudi law firms. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Fully-owned foreign law firms coming? <\/strong>The Justice Ministry is also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/83b4eb7f-ed91-48cd-88b9-3e908372045f\" style=\"\" rel=\"noopener\">seeking public<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/83b4eb7f-ed91-48cd-88b9-3e908372045f\" style=\"\" rel=\"noopener\">opinion<\/a> on proposed rule changes that would allow foreign law firms to set up wholly-owned shops here. The amendments would allow these firms to provide legal advisory services and plead before courts through practicing Saudi lawyers. Public consultation over the amendments runs until Sunday, 7 July.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The latest in a flurry of firms setting up shop in Saudi:<\/strong> More than 400 global firms \u2014 in contracting, manufacturing and tech \u2014 including Boeing and Amazon, have obtained RHQ licenses from the Investment Ministry, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-26\/saudi-arabia-mizuho-follows-goldman-sachs-gets-nod-to-set-up-regional-hq?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported last week. Big banks are also finding it hard to resist the incentives to do so, with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/abfac736-4b6c-40b4-9b9d-6c7e0d1605a7\" style=\"\" rel=\"noopener\">Goldman Sachs<\/a> and Japan\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/20b26f21-6d1f-4729-948e-3f7806738e84\" style=\"\" rel=\"noopener\">Mizuho<\/a> obtaining licenses to base their MENA operations out of Saudi. Others including BlackRock, JPMorgan Chase, Deutsche Bank, and HSBC have ramped-up their hiring in the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> Earlier this year, the government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ae469b11-e29f-4dd2-a4b0-f5c317c075f4\" style=\"\" rel=\"noopener\">rolled out tax incentives<\/a> for foreign companies that relocate their regional headquarters to the Kingdom \u2014 and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/38b098bf-b85e-4e3a-9248-233901e3bd1f\" style=\"\" rel=\"noopener\">state institutions are helping with the push<\/a>. The incentives are part of a plan that is a cornerstone of Crown Prince and Prime Minister Mohammed bin Salman\u2019s drive to build a diversified, globally significant non-oil economy, and has been in the works since February 2021. Companies that don\u2019t declare Saudi their regional HQ could be prevented from bidding for government work. <\/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\/abdulaziz-alajlan-partners\/\">Abdulaziz AlAjlan &amp; Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/baker-mckenzie\/\">Baker McKenzie<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/baker-mckenzie-law-firm\/\">Baker McKenzie Law Firm<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/legal-advisors\/\">Legal Advisors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regional-headquarters-program-rhq\/\">Regional Headquarters Program (RHQ)<\/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=\"87506\" 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=\"87506\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/02\/contractor-al-ashghal-almoysra-sets-price-range-for-nomu-ipo\/\">\r\n                            Contractor Al Ashghal Almoysra sets price range for Nomu IPO                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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                       <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1447.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87507\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/02\/contractor-al-ashghal-almoysra-sets-price-range-for-nomu-ipo\/1447-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1447.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1447.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1447.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1447.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87506\" class=\"content-area-description single-story post-87506 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-al-ashghal-almoysra tag-enterpriseam-ksa tag-ipo tag-ipo-watch tag-nomu tag-yaqeen-capital 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\/7\/.f5f0bda2-0679-40ed-a5a1-d7c8773e432f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Contractor Al Ashghal Almoysra is guiding on a price range of SAR 35-50 for its <\/strong><strong>IPO <\/strong><strong>on parallel<\/strong><strong> market Nomu<\/strong>, its financial advisor and lead manager Yaqeen Capital 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\/jZDBcoIwEIafpQeu7IIEaW9YNZ1WRyxtxVycYNPIFBIGYxnfvlEvMmO1e8vs9__fToBBBkzxn0JyU2jFS_tesnBF4hD9pwhndOyPcD6-H8yHI-rhSwCLLoBpQiyQTHsTfEWKIbD_5PGPifF2nnWRCxccgWuKqxLahzcL9M8UH48BhjgL6HQSeZQQSIWCZ2Cy1Pnp0zbG1A8OOmj4J293pWMta13VXO3TfZVrC3noBwc0VnkvksAa8SUa0bi7xi4P-e2xoG1bV2otS-HaAttzIbLRWwNZl4S6es-wSL7pIjJkGd_9AnwCzGM!\/dz\/d5\/L0lDU0lLVUtVSkNncFJDZ3BSQ2lDbEVLSUtVU0ovWUJVRUFBQUlJTUlFQUNJQ0tJS0lHT0JPQkdPSkZKRkdKTk5ETkRMSUVDTkhIUEhQTEhBb0VFSW9FTUEhLzRKQ2lqc1l1T0lRU2t5RkpOUlRrS2FhaG10MnN0bk5Uelc3V1d3V29wVlVZb0EhIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9BTk5PVU5DRU1FTlRfTlVNQkVSLzgxMTQ3L2NvbXBhbnlTeW1ib2wvMTAyNC9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvYW5JZC9lbg!!\/\" style=\"\" rel=\"noopener\">statement to Tadawul<\/a> yesterday. It is looking to offer a 20% stake \u2014 480k ordinary shares \u2014 on Nomu after lining up the Capital Market Authority\u2019s <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3514.aspx\" style=\"\" rel=\"noopener\">approval for the offering<\/a> in March.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:<\/strong> Qualified investors can place orders on a minimum of 10 shares and a maximum of 119,990 shares from Sunday, 7 July to Monday, 15 July, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/350.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a>. The final allocation of shares will take place on Sunday, 21 July, and refunds, if any, on Tuesday, 23 July.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Post IPO structure + lock-up period:<\/strong><span style=\"background-color: transparent;\"> The five substantial shareholders are selling down their positions to a combined 80%. They are prohibited from conducting any transactions on their shares for a period of 12 months from the first day of trading.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Proceeds + market cap: <\/strong>At the top range, the pricing could see Al Ashghal Almoysra raise up to SAR 24 mn and give it a post-IPO market cap of SAR 120 mn, according to our calculations. Some SAR 2.3 mn will be used to cover all the offering related costs including fees for the financial advisor, subscription manager, and other advisors, as well as other expenses, according to the prospectus. The remainder of the net proceeds will go entirely to the selling shareholders, it added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Al Ashghal Al Moysra:<\/strong> The company specializes in facility management, contracting, and provision of logistics and transport solutions across the Kingdom and was established in 2013 in Sakaka, Al Jouf.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Yaqeen Capital is serving as the financial advisor and lead manager, while Al Rajhi Capital, Riyad Capital, Alinma Investment, AlJazira Capital, Alawwal Invest, Derayah Financial, Saudi Fransi Capital, SNB Capital, Alistithmar Capital, Albilad Capital, ANB Capital are all receiving agents.<\/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-ashghal-almoysra\/\">Al Ashghal Almoysra<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo\/\">IPO<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/yaqeen-capital\/\">Yaqeen Capital<\/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=\"87508\" 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=\"87508\">\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\">RENEWABLES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/02\/acwa-powers-200-mw-solar-power-project-in-uzbekistan-gets-financial-backing\/\">\r\n                            Acwa Power secures SAR 1.4 bn in financing for Uzbek solar power project                        <\/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\/07\/02\/acwa-powers-200-mw-solar-power-project-in-uzbekistan-gets-financial-backing\/\" 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\/07\/02\/acwa-powers-200-mw-solar-power-project-in-uzbekistan-gets-financial-backing\/')\">\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\/07\/02\/acwa-powers-200-mw-solar-power-project-in-uzbekistan-gets-financial-backing\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Acwa Power\u2019s 200-MW solar power project in Uzbekistan gets financial backing&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/02\/acwa-powers-200-mw-solar-power-project-in-uzbekistan-gets-financial-backing\/\">\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\/07\/02\/acwa-powers-200-mw-solar-power-project-in-uzbekistan-gets-financial-backing\/&title=Acwa Power\u2019s 200-MW solar power project in Uzbekistan gets financial backing\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Acwa+Power%E2%80%99s+200-MW+solar+power+project+in+Uzbekistan+gets+financial+backing+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F02%2Facwa-powers-200-mw-solar-power-project-in-uzbekistan-gets-financial-backing%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\/07\/02\/acwa-powers-200-mw-solar-power-project-in-uzbekistan-gets-financial-backing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/121.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87509\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/02\/acwa-powers-200-mw-solar-power-project-in-uzbekistan-gets-financial-backing\/121-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/121.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"121.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/121.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/121.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87508\" class=\"content-area-description single-story post-87508 post type-post status-publish format-standard has-post-thumbnail hentry category-renewables tag-acwa-power tag-enterpriseam-ksa tag-renewables 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\/7\/.29226085-42e5-4fa3-928b-230c4a65979b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa Power has secured some SAR 1.4 bn (c. USD 373.2 mn) in financing to fund its <\/strong><strong>200-MW solar PV and battery <\/strong><strong>storage project in Uzbekistan<\/strong>, the renewables giant said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWlEQ3WFUjI8IEiPOxgw6jiQwQ3CU8PeOutL46q7tubc3BQIxEEEvKacqlYJmut8QZ2t7DlpjFxf-yBpiOOr2w8HQb-K0DetnAKPA1kAwb81wiT46QP7R44fy8LeefEX8zivwJuId-JJhAoRnMnn8wxNJy-VASnZgJSvNc6nHR6WKU89AA6uqMrmUPGPmTuYGvpMc5UlB_EzeuJvL3UTRPa3OmVYTvSqoqKM6T6Q-ZKFrQcQEFPkqxjTI166yk7bXuAIhtYSO\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MTE0MS9jb21wYW55U3ltYm9sLzIwODIvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The financing will be provided through a consortium of banks that comprise the European Bank for Reconstruction and Development, Proparco, DEG, Islamic Development Bank, Standard Chartered Bank, and KfW-IPEX Bank. The facility has a 19-year tenor, it said, without giving details on cost. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">About the project: <\/strong><span style=\"background-color: transparent;\">Located in Uzbek capital Tashkent, the Riverside Power Station is a SAR 2 bn greenfield independent power project that comprises a 200-MW solar PV and 500MWh battery energy storage system, according to a <\/span><a target=\"_blank\" href=\"https:\/\/acwapower.com\/en\/projects\/tashken-riverside-pv\/\" rel=\"noopener\">project profile<\/a><span style=\"background-color: transparent;\">. The 25-year contract for the project is under the build, own operate and transfer model.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Acwa has been busy in Uzbekistan: <\/strong>It <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/96623404-2e82-4da4-a7ee-bed67edcc001\" style=\"\" rel=\"noopener\">signed in May<\/a> a SAR 18.2 bn (c. USD 4.9 bn) power purchase agreement with the National Electric Grid of Uzbekistan (Negu) to develop a new 5 GW wind farm \u2014 set to become the largest in Central Asia. The Aral project is the 15th project by Acwa Power in Uzbekistan as the renewable energy utility <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/37882122-e8ad-490b-a75a-36f14257935b\" style=\"\" rel=\"noopener\">advances investments<\/a> in green energy in the Central Asian country. Acwa Power\u2019s total investments to Uzbekistan are estimated at USD 13.9 bn, with the Central Asian country becoming its second largest after Saudi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND<\/strong><strong>- Acwa Power can<\/strong><strong> now operate its Kom Ombo solar plant in Egypt: <\/strong>Acwa Power has received a commercial operation certificate for its 200-MW Kom Ombo <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1ebf21fb-3f6b-40ff-8ee9-c3971b02df93\" style=\"\" rel=\"noopener\">solar plant<\/a>, 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\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMjAwkg_ODVPvyA3NMIgMyA3XNdREQC5cNBA\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MTEzNi9jb21wYW55U3ltYm9sLzIwODIvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">separate disclosure to Tadawul<\/a>. It expects the project to be reflected in its financial results starting 3Q 2024. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fab4ba07-8bca-472f-93cd-defc8860fa54\" style=\"\" rel=\"noopener\">project<\/a> is Egypt\u2019s largest privately-owned solar plant with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1ebf21fb-3f6b-40ff-8ee9-c3971b02df93\" style=\"\" rel=\"noopener\">long-term loans<\/a> from multilateral lenders including EBRD, the OPEC Fund for International Development, the African Development Bank, and others.<\/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\/acwa-power\/\">ACWA power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/renewables\/\">RENEWABLES<\/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=\"87510\" 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=\"87510\">\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\/07\/02\/everyone-is-talking-about-trump-tower-jeddah\/\">\r\n                            Everyone is talking about Trump Tower Jeddah                        <\/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\/07\/02\/everyone-is-talking-about-trump-tower-jeddah\/\" 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\/07\/02\/everyone-is-talking-about-trump-tower-jeddah\/')\">\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\/07\/02\/everyone-is-talking-about-trump-tower-jeddah\/\">\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=Everyone is talking about Trump Tower Jeddah&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/02\/everyone-is-talking-about-trump-tower-jeddah\/\">\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\/07\/02\/everyone-is-talking-about-trump-tower-jeddah\/&title=Everyone is talking about Trump Tower Jeddah\">\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=Everyone+is+talking+about+Trump+Tower+Jeddah+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F02%2Feveryone-is-talking-about-trump-tower-jeddah%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\/07\/02\/everyone-is-talking-about-trump-tower-jeddah\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87510\" class=\"content-area-description single-story post-87510 post type-post status-publish format-standard hentry category-saudi-in-the-news tag-donald-trump tag-enterpriseam-ksa tag-national-semiconductor-hub tag-saudi-in-the-news tag-semiconductors tag-trump-organization tag-trump-tower-jeddah 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\/7\/.850b436f-4005-4aec-acf7-4764b047037f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Surprising no one, a planned Trump Tower in Jeddah is raising questions in the foreign <\/strong><strong>press on possible conflicts of interest if Donald Trump makes his way again to the White House<\/strong>. The plans announced by Dar Global and the Trump Organization is leading international media coverage with ink from <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-01\/trump-organization-signs-deal-for-saudi-residential-tower?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/07\/01\/us\/politics\/trump-organization-saudi-arabia-tower.html\" style=\"\" rel=\"noopener\">The New York Times<\/a> | and <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/07\/01\/business\/trump-tower-saudi-arabia\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the pundits are saying: <\/strong>\u201cThe Trump Organization\u2019s continued pursuit of foreign business projects raises perilous national security, corruption and constitutional concerns,\u201d as US advocacy group told CNN.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Meanwhile, Bloomberg looks at our drive to build a domestic semiconductor industry<\/strong><span style=\"background-color: transparent;\">. Naveed Sherwani, who is leading the government\u2019s National Semiconductor Hub, spoke on the Kingdom\u2019s ambitions for the industry, telling the business information service that the hub is focusing on \u201ceveryday use chips\u201d which are needed in every market (<\/span><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-07-01\/saudi-chip-ambitions-take-shape-with-new-hub-video\" rel=\"noopener\">watch, runtime: 7:35<\/a><span style=\"background-color: transparent;\">). \u201cWe want to build that human resource and the ecosystem to work on the kind of chips that we can over the next five to seven years,\u201d he said. \u201cOnce we have that capability, we can start doing a little bit more complicated chips.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the hub: <\/strong>The government is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/fd8da78c-313e-4981-bf9e-9648d2ccfc02\" style=\"\" rel=\"noopener\">setting up<\/a> the National Semiconductor Hub, which will be used \u201cto develop so-called fabless chip companies that design new semiconductors.\u201d The government hopes to attract 25 experts and 5k engineers specialized in semiconductor design, with a focus on simple chips, rather than advanced technology,<\/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\/donald-trump\/\">Donald Trump<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-semiconductor-hub\/\">National Semiconductor Hub<\/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\/semiconductors\/\">semiconductors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trump-organization\/\">Trump Organization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trump-tower-jeddah\/\">Trump Tower Jeddah<\/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=\"87511\" 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=\"87511\">\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\/07\/02\/saudis-first-locally-made-gas-turbine-unveiled\/\">\r\n                            Saudi\u2019s first locally-made gas turbine unveiled                        <\/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\/07\/02\/saudis-first-locally-made-gas-turbine-unveiled\/\" 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\/07\/02\/saudis-first-locally-made-gas-turbine-unveiled\/')\">\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\/07\/02\/saudis-first-locally-made-gas-turbine-unveiled\/\">\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=Saudi\u2019s first locally-made gas turbine unveiled&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/02\/saudis-first-locally-made-gas-turbine-unveiled\/\">\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\/07\/02\/saudis-first-locally-made-gas-turbine-unveiled\/&title=Saudi\u2019s first locally-made gas turbine unveiled\">\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=Saudi%E2%80%99s+first+locally-made+gas+turbine+unveiled+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F02%2Fsaudis-first-locally-made-gas-turbine-unveiled%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\/07\/02\/saudis-first-locally-made-gas-turbine-unveiled\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/118.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87512\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/02\/saudis-first-locally-made-gas-turbine-unveiled\/118-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/118.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"118.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/118.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/118.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87511\" class=\"content-area-description single-story post-87511 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-aramco tag-crews-by-core tag-dussur tag-enterpriseam-ksa tag-ge-saudi-advances-turbines-gesat tag-ge-vernova tag-general-electric tag-general-food-security-authority-gfsa tag-hassana tag-kinan-international-real-estate-development tag-mbc tag-neom-media tag-scan-global-logistics-sgl tag-top-chef tag-wakecap tag-wheat 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\/7\/.7f8ad9c9-a2b5-4f97-98a0-6bccea13c569.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi\u2019s first locally-made gas turbine is here:<\/strong> GE Saudi Advances Turbines (Gesat) unveiled the Kingdom\u2019s first locally-made H-class gas turbine unit at its Dammam plant, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/projects\/utilities\/ge-vernovas-saudi-jv-rolls-out-its-first-locally-made-gas-turbine-for-jafurah-cogen-ispp-rrg0ryp3\" style=\"\" rel=\"noopener\">statement<\/a>. The unit is set to power Aramco\u2019s Jafurah Cogeneration Independent Steam and Power Plant, which is set to be the most efficient power plant in the Kingdom when operational. Gesat is a joint venture between the Public Investment Fund-backed Dussur and General Electric's energy spin-off company GE Vernova.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">What\u2019s Jafurah? <\/strong><span style=\"background-color: transparent;\">The entire Jafurah gas field \u2014 the largest unconventional, non-oil-associated gas field in the Kingdom \u2014 is set to produce 630k barrels of gas liquids and condensates per day and over 420 mn standard cubic feet of ethane per day by 2030, according to the statement. Jafurah is also the largest shale gas development outside the United States.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Aramco signed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e2e73b8b-ef93-4bcc-a2d9-8d6353e59149\" style=\"\" rel=\"noopener\">earlier this week<\/a> contracts worth over USD 25 bn as it pushes deeper into natural gas. The contracts are for the development of the second phase of its Jafurah gas field and the expansion of the Kingdom\u2019s primary natural gas pipeline. The state-owned oil giant aims to see natural gas production in 2030 be 60% higher than it was in 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More local production rolling in: <\/strong>Four out of six H-class gas turbines procured for the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e261b098-4565-4003-8cd6-f884e67727f6\" style=\"\" rel=\"noopener\">planned<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e261b098-4565-4003-8cd6-f884e67727f6\" style=\"\" rel=\"noopener\">Taiba 1 and Qasim 1<\/a> Independent Power Producer (IPP) projects <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/projects\/utilities\/ge-vernova-to-supply-gas-turbines-for-taiba-1-qasim-1-ipps-in-saudi-arabia-m5vxx25y\" style=\"\" rel=\"noopener\">will be manufactured<\/a> at Gesat\u2019s factory in Dammam.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And more: <\/strong>GE Vernova signed an MoU with Saudi EXIM to facilitate the exports of its locally manufactured technology products abroad, according to the statement. The bank is set to support lending and ins. support, the statement read, before providing further details.<\/p>\n<p class=\"tag-border-left\">M&amp;A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The General Authority for Competition has issued a non-objection on eight <\/strong><strong>\u201ceconomic <\/strong><strong>concentration requests\u201d in June 2024,<\/strong> it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/SaudiGAC\/status\/1807372401098825770\" style=\"\" rel=\"noopener\">post on X<\/a>. Seven out of eight of the approved requests were for acquisitions with one for a joint venture. Some of the takeovers listed i <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5cb6f051-9c52-4e9d-9756-16fc6edf0dae\" style=\"\" rel=\"noopener\">nclude an acquisition<\/a> by Riyadh-based healthcare equipment supplier Cigalah of a 28.5% stake in Buruj Cooperative Ins. from Kuwait\u2019s Gulf Ins. Group. The approved joint venture was formed between leading conglomerate Ajlan &amp; Bros and local 4Data Information Technology.<\/p>\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>Less wheat bought than planned: <\/strong>The General Food Security Authority (GFSA) purchased 235k tons of wheat in its third tender for 2024, the authority said in a <a target=\"_blank\" href=\"https:\/\/x.com\/GFSA_KSA\/status\/1807687140756656454\" style=\"\" rel=\"noopener\">post on X<\/a>. The quantities purchased are <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/aea13534-1f24-435f-a226-1f085cbe3712\" style=\"\" rel=\"noopener\">below the 595k tons<\/a> of wheat sought in the tender. The wheat shipments \u2014 sourced from the EU, Black Sea, North America, South America and Australia \u2014 are set to arrive here between September and October.<\/p>\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>Global freight forwarder <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.scangl.com\/\" style=\"\" rel=\"noopener\">Scan Global Logistics (SGL)<\/a><\/strong><strong> made its entry into the Kingdom<\/strong> with the opening of offices in Riyadh and Jeddah, according to a <a target=\"_blank\" href=\"https:\/\/www.scangl.com\/news\/scan-global-logistics-expands-its-worldwide-transport-network-by-opening-its-first-offices-in-saudi-arabia\/\" style=\"\" rel=\"noopener\">statement.<\/a> SGL said Saudi\u2019s strategic location as a gateway to the GCC, Europe, Asia and Africa makes it \u201can ideal distribution hub for these regions.\u201d It plans to open a third office in Dammam this year. The new offices will launch with 20-25 employees with the company planning to bring its headcount to 50 in the second year of operations. <\/p>\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hassana, the investment manager of the Saudi General Organization for Social Ins., is set <\/strong><strong>to develop a mixed-use project in Riyadh\u2019s Al Raml district<\/strong> with real estate developer Kinan International Real Estate Development, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/real-estate\/hassana-kinan-to-develop-major-mixed-use-project-in-riyadh-fz42v98d\" style=\"\" rel=\"noopener\">TradeArabia<\/a> reported. The 2 mn sqm mixed-use project will feature residential, educational, healthcare, entertainment, retail, and office spaces. It aims to accommodate up to 9k residential units and includes 222k sqm of commercial space. The financial value of the planned project was not disclosed.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/crews-by-core\/\">Crews by Core<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/dussur\/\">Dussur<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ge-saudi-advances-turbines-gesat\/\">GE Saudi Advances Turbines (Gesat)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ge-vernova\/\">GE Vernova<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/general-electric\/\">General Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/general-food-security-authority-gfsa\/\">General Food Security Authority (GFSA)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hassana\/\">Hassana<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/kinan-international-real-estate-development\/\">Kinan International Real Estate Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mbc\/\">MBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neom-media\/\">Neom Media<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/scan-global-logistics-sgl\/\">Scan Global Logistics (SGL)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/top-chef\/\">Top Chef<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/wakecap\/\">Wakecap<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/wheat\/\">wheat<\/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=\"87513\" 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=\"87513\">\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\/07\/02\/ignis-private-equity-major-kkr-to-launch-a-eur-400-mn-renewables-jv\/\">\r\n                            Ignis, a unit of EFG Holding\u2019s Vortex, will launch a EUR 400 mn renewables JV with private equity major KKR                        <\/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\/07\/02\/ignis-private-equity-major-kkr-to-launch-a-eur-400-mn-renewables-jv\/\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1765.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87514\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/02\/ignis-private-equity-major-kkr-to-launch-a-eur-400-mn-renewables-jv\/1765-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1765.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1765.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1765.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1765.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87513\" class=\"content-area-description single-story post-87513 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets tag-ignis tag-kkr tag-planet-finance tag-renewables tag-vortex-energy 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\/7\/.3119605f-e981-4ee0-948b-bec32d8821f8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>KKR + Vortex portfolio company Ignis: <\/strong>US private equity firm <a target=\"_blank\" href=\"https:\/\/www.kkr.com\/\" style=\"\" rel=\"noopener\">KKR<\/a> and Spanish renewable group <a target=\"_blank\" href=\"https:\/\/ignis.es\/en\/\" style=\"\" rel=\"noopener\">Ignis<\/a> \u2014 a portfolio company of global renewables platform <a target=\"_blank\" href=\"https:\/\/www.vortexenergy.ae\/\" style=\"\" rel=\"noopener\">Vortex Energy<\/a>, which is managed by the private equity arm of our friends at EFG Hermes \u2014 will create a new platform to develop green hydrogen and ammonia projects targeting hard-to-abate-sectors, according to a <a target=\"_blank\" href=\"https:\/\/media.kkr.com\/news-details\/?news_id=6ba7fd08-f147-466c-81d6-94c4825bd719&amp;type=1\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>By the numbers: <\/strong>KKR will invest up to EUR 400 mn into the JV dubbed IGNIS <a target=\"_blank\" href=\"https:\/\/ptx-hub.org\/how-ptx-works\/\" style=\"\" rel=\"noopener\">P2X<\/a>, with shares divided evenly between KKR and Ignis. The platform will start with a pipeline of 20 GW of projects \u201cas well as more than 10 GW of advanced and early-stage renewables in Spain and additional renewable projects globally,\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">More details: <\/strong><span style=\"background-color: transparent;\">IGNIS P2X will produce green hydrogen, ammonia, e-methanol, e-fuels, renewables, and sustainable aviation fuel (SAF), \u201cserving blue chip corporates active in refining, steel, chemicals, fertilizer, among other sectors, as well as traditional renewables, largely wind and solar, associated with the hydrogen and ammonia projects.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KKR is looking to invest big in climate: <\/strong>The firm announced that it was looking to raise as much as <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e44c889f-c83f-4575-a600-36f507775849\/eib-issues-first-common-principles-on-nature-positive-finance-and-usd-bns-in-financing-for-solar-and-agriculture\" style=\"\" rel=\"noopener\">USD 7 bn<\/a> from its first planned climate transition fund back in December. The fund will scope out green mobility, battery storage, and decarbonization projects across the US, EU, and Asia Pacific markets, with plans to earmark between USD 300 and 750 mn for each venture.<\/p>\n<p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed in early trading this morning<\/strong>, with the Hang Seng leading the gainers (+1.5% at dispatch time) after taking yesterday off for a national holiday. The Kospi (-0.5%) leads the decliners. US equities futures were uniformly (but gently) in the red in overnight trading, while futures for major European benchmarks were largely flat. <\/p>\n<p><a target=\"_blank\" id=\"t.1f75a8ba6446da7a6dbccaae7f7b9c4238c72a48\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,659<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -2.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,457<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: -6.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,318<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +7.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,970<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +12.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,060<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (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:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,057<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: -0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,475<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +14.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,167<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +5.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,930<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +9.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 86.60  <\/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:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.48  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,341.30  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 63,026<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.5% (YTD: +50.0%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI fell 0.2% yesterday <\/strong>on turnover of SAR 7.3 bn. The index is down 2.6% 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> SSP (+10.0%), Talco (+8.9%) and East Pipes (+7.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Sedco Capital Reit (-4.3%), Zain KSA (-4.1%) and Walaa (-3.5%).<\/p>\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong><strong> rose 0.7% yesterday <\/strong>on turnover of SAR 36.8 mn. The index is up 7.3% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Gas (+11.3%), Leaf (+7.1%) and Knowledge Tower (+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> AlHasoob (-8.2%), Ioud (-6.5%) and Amwaj International (-6.2%)<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shareholders of our friends at <\/strong><strong>Cenomi Center have approved the board\u2019s <\/strong><strong>recommendation to distribute a dividend of SAR 178.1 mn<\/strong> at SAR 0.375 per share for 1Q 2024, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/58.pdf\" style=\"\" rel=\"noopener\">filing to the exchange (pdf)<\/a>. The shareholders have also approved the company\u2019s dividend policy for the 12 months starting 2Q 2024, the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shareholders of Tadawul-listed telecom group Zain KSA have approved the board\u2019s <\/strong><strong>recommendation to distribute SAR 449.4 mn in dividend<\/strong> at SAR 0.5 per share for FY 2023, 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\/lU9fb4IwEP8sfgDTA2Nhj2xsyIKKolN5MbXclEQoKcXNffpRMDG6ubjmHu6uv39HYrIkcc4O6ZapVORsX8-rmK77DgVzYMMYBrMnoBB5dD6zDdekZHEJsIcehcnImYxNqw_eG5D4X3yIwj5MXsJhL4ApeEDv48ON59zhH19Cxs6DVSd4ffT8wOnZ1LoG_HLilcnPGxrAHyEjzJtLrJtRfYMsJJaikhzJdIvKyXNR5RwzzFWQlsplipEJZ3yHAR5wH7Itkkhbs-SQlkKWGkVWelMiV0K6hZ-c5mO2Efu2L6RIKq5mxwLbhRK19KkvatEo_aonA1ohJvnujNX_oyrboHQ3ZGXq1bsU2VmA6dRcZ25JxrprNCb4qaJGrMUlNSNEmQqdsMjm8yWkftf-eO5l9mU5nc43jSkOgA!!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzcwMzAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMTIz\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. A distribution date will be announced at a later date by the board, according to the disclosure.<\/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\/ignis\/\">Ignis<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/kkr\/\">KKR<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/renewables\/\">RENEWABLES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/vortex-energy\/\">Vortex Energy<\/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=\"87515\" 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\/07\/02\/87515\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87515\" class=\"content-area-description single-story post-87515 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;\">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>3-5 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/24fintech.com\/about-us\" style=\"\">24 Fintech<\/a><\/span><span style=\"font-weight:400;\">, Front Exhibition & Conference Center, 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;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:\/\/www.thehotelshowsaudiarabia.com\/\" style=\"\">Hotel & Hospitality Expo<\/a><\/span><span style=\"font-weight:400;\">, Front Exhibition & 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>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>No sale talks, says Saudi Investment Bank | Baker McKenzie buys majority stake in local associate | Trump Tower in Jeddah | Sama reserves at 18-month high<\/p>\n","protected":false},"featured_media":87496,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-87495","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3e52b4cf-83a5-4176-ad65-868842fecff9","teaser":"No sale talks, says Saudi Investment Bank | Baker McKenzie buys majority stake in local associate | Trump Tower in Jeddah | Sama reserves at 18-month high","photo_url":"https:\/\/ent.news\/2024\/3\/563.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PIF swings to profitability in 2023 as revenues more than double -report - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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