{"id":87572,"date":"2024-07-07T00:00:00","date_gmt":"2024-07-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=87572"},"modified":"2025-12-14T18:28:43","modified_gmt":"2025-12-14T18:28:43","slug":"the-view-from-dc-on-our-business-ties-with-the-us","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/","title":{"rendered":"The view from DC on our business ties with the US"},"content":{"rendered":"<section id=\"87574\" 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=\"87574\">\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\/07\/aramco-says-a-report-its-talking-to-santos-is-inaccurate-and-stcs-bid-for-altice-portugal-has-reportedly-failed\/\">\r\n                            THIS MORNING: Aramco says a report it\u2019s talking to Santos is \u201cinaccurate\u201d and Stc\u2019s bid for Altice Portugal has reportedly failed                        <\/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\/07\/aramco-says-a-report-its-talking-to-santos-is-inaccurate-and-stcs-bid-for-altice-portugal-has-reportedly-failed\/\" 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\/07\/aramco-says-a-report-its-talking-to-santos-is-inaccurate-and-stcs-bid-for-altice-portugal-has-reportedly-failed\/')\">\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\/07\/aramco-says-a-report-its-talking-to-santos-is-inaccurate-and-stcs-bid-for-altice-portugal-has-reportedly-failed\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Aramco says a report it\u2019s talking to Santos is \u201cinaccurate\u201d and Stc\u2019s bid for Altice Portugal has reportedly failed&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/aramco-says-a-report-its-talking-to-santos-is-inaccurate-and-stcs-bid-for-altice-portugal-has-reportedly-failed\/\">\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\/07\/aramco-says-a-report-its-talking-to-santos-is-inaccurate-and-stcs-bid-for-altice-portugal-has-reportedly-failed\/&title=Aramco says a report it\u2019s talking to Santos is \u201cinaccurate\u201d and Stc\u2019s bid for Altice Portugal has reportedly failed\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Aramco+says+a+report+it%E2%80%99s+talking+to+Santos+is+%E2%80%9Cinaccurate%E2%80%9D+and+Stc%E2%80%99s+bid+for+Altice+Portugal+has+reportedly+failed+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F07%2Faramco-says-a-report-its-talking-to-santos-is-inaccurate-and-stcs-bid-for-altice-portugal-has-reportedly-failed%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\/07\/aramco-says-a-report-its-talking-to-santos-is-inaccurate-and-stcs-bid-for-altice-portugal-has-reportedly-failed\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/471.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87575\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/aramco-says-a-report-its-talking-to-santos-is-inaccurate-and-stcs-bid-for-altice-portugal-has-reportedly-failed\/471-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/471.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"471.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/471.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/471.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87574\" class=\"content-area-description single-story post-87574 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-altice tag-aramco tag-enterpriseam-ksa tag-stc tag-what-were-tracking-today 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\/.49fa7366-300b-403d-849f-36bc16857775.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends, and welcome to a busy news day<\/strong> packed with M&amp;A and investment news and an interview with Steve Lutes, the US Chamber of Commerce\u2019s lead for our part of the world, on the state of play in the bilateral relationship. Let\u2019s jump right in: <\/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>It\u2019s wholesale and retail week<\/strong>, organized by the Small and Medium Enterprises General Authority (Monsha'at), the authority said in a <a target=\"_blank\" href=\"https:\/\/www.monshaat.gov.sa\/ar\/node\/130021\" style=\"\" rel=\"noopener\">statement<\/a>. Networking between business owners and government officials is one of the key features of the event, which will see activities at SME support centers in Riyadh, Jeddah, Madinah, and Khobar running through Thursday, 11 July. You can <a target=\"_blank\" href=\"https:\/\/profile.monshaat.gov.sa\/user\/login?destination=\/oauth2\/authorize\" style=\"\" rel=\"noopener\">register here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of SMEs: They\u2019re enjoying more access to credit. <\/strong>Credit facilities to micro, small and medium enterprises (MSMEs) in the Kingdom rose 16.3% y-o-y in 1Q 2024 to SAR 293.4 bn, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/430.pdf\" style=\"\" rel=\"noopener\">Sama\u2019s monthly bulletin (pdf)<\/a>. Banks provided 94% of that figure, while non-bank financial services firms accounted for the rest. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Expect hazy skies in <\/strong><strong>Riyadh with a daytime high of 42\u00b0C<\/strong>, while Makkah will see the mercury will peak at 43\u00b0C. Expect some wind in Madinah today and a high of 44\u00b0C.<\/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=\"wwtt1\"><\/a>  #1- Oil giant Aramco said media reports of it exploring a bid for Australian oil and gas <\/strong><strong>firm <\/strong><strong>Santos were<\/strong><strong> \u201cinaccurate,<\/strong><strong>\u201d <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/adnoc-weighs-possible-bid-australian-gas-company-santos-sources-say-2024-07-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported, citing an emailed statement. The remarks by an Aramco spokesperson came after <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-03\/aramco-adnoc-are-said-to-consider-bids-for-gas-producer-santos\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported Aramco and the UAE\u2019s Adnoc were separately considering bids for Santos, company, which has liquefied natural gas projects in Australia, Papua New Guinea, and Timor-Leste, and a market cap of c. USD 17.4 bn<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> #2- Stc\u2019s bid to buy Altice\u2019s Portugal operations has reportedly failed. <\/strong>Telecoms giant stc and Patrick Drahi, the owner of European telecom group Altice, reportedly ended talks that would have seen stc buy Altice\u2019s telecoms business in Portugal, Portuguese business newspaper <a target=\"_blank\" href=\"https:\/\/eco.sapo.pt\/2024\/07\/05\/drahi-e-sauditas-da-stc-rompem-negociacoes-pela-altice\/\" style=\"\" rel=\"noopener\">Eco<\/a> reports. Talks reportedly collapsed after the two parties disagreed on the final price, Eco cites sources as saying. Stc <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2eda0942-e585-4f4b-bf2f-c257e2b4f1d5\" style=\"\" rel=\"noopener\">submitted two months ago the highest binding offer<\/a> to acquire Altice Portugal, which Eco estimates is worth c. USD 8 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Interest from STC, which is 64% owned by the Public Investment Fund, and others come as Drahi looks to sell shares in a bid to pay down debt. Drahi was hoping to bag a lofty EUR 10 bn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/863f3d04-f688-436e-9389-ab204ee39f7a\" style=\"\" rel=\"noopener\">from the sale<\/a>, a price tag that scared off most potential buyers.<\/p>\n<p class=\"tag-border-left\">PIF 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>  USD 500 mn investment in Hong Kong: <\/strong>The Public Investment Fund (PIF) signed a non-binding MoU with financial services outfit <a target=\"_blank\" href=\"https:\/\/www-chaoshang-hk.translate.goog\/about.php?_x_tr_sl=zh-TW&amp;_x_tr_tl=en&amp;_x_tr_hl=en&amp;_x_tr_pto=sc&amp;_x_tr_sch=http\" style=\"\" rel=\"noopener\">Hong Kong Chaoshang Group<\/a> that could see the fund invest a total of USD 500 mn over a five-year period, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/429.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s Chaoshang? <\/strong>The Hong Kong-listed firm focuses on trading, lending and factoring, and financial leasing. It has lined up a USD 100 mn convertible and a USD 400 mn loan. They now have three months to ink a definitive agreement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money going?<\/strong> Chaoshang would use the funds to support its working capital and expand its business, as well as \u201cundertake strategic initiatives including but not limited to investments into different industries such as mining and healthcare and \/ or other sectors as the opportunities arise.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>Tadawul, the PIF, Aramco, and Neom are among the high-profile Saudi institutions that have led a steady charge to deepen business and investment ties between Saudi and China in the past 10 months or so. <\/p>\n<p class=\"tag-border-left\">RETAIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a>  <strong>#1- <\/strong><strong>US private equity firm L Catterton <\/strong><strong>is mulling the full exit of its stake in gourmet food <\/strong><strong>brand<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/bateel.com\/en_sa\" style=\"\" rel=\"noopener\">Bateel<\/a><\/strong>, the grower and retailer of our favorite brand of dates, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-05\/lvmh-backed-l-catterton-seeks-buyers-for-saudi-bateel-stake\" style=\"\" rel=\"noopener\">Bloomberg reports<\/a> citing people it says have knowledge of the matter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How much is in play? <\/strong>The PE firm, which is backed by global luxury fashion house LVMH, is reportedly working with UBS to sell a stake of nearly 20% stake. L Catterton had initially bought into Bateel back in 2015 in an international expansion push. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And a capital increase? <\/strong>Bateel\u2019s majority shareholders, Al Sudairi family, may sell more shares in the company as it looks to drum up capital to fund growth plans, the sources said. No further information was provided. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Bateel: <\/strong>It started as a date farming business in 1936 before expanding to open boutiques for its premium dates and opening a number of cafes and restaurants here and globally.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- BinDawood to sell franchise rights in Qatar:<\/strong> Tadawul-listed supermarket group BinDawood Holding has inked a non-binding MoU with Qatar-based <a target=\"_blank\" href=\"https:\/\/regionalgroup.com.qa\/about\" style=\"\" rel=\"noopener\">Regional Group Company<\/a> to provide commercial franchise rights for the opening of eight branches under the \"BinDawood\" brand in Qatar, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qCGId6BALsgxSxIpiSPHgdKvbx5IiBYqavngHc_Mzi5xyZq4CTuEPlOhSFhU1BvX2HaoAe2-CRPoL97AAMcylgtT67UNsrommCPLgNmYzibtbgesDyDuv_TgTDswe5-O9CHMwQLjMT3cOfSB_u41ZUKfu0WCwatlD6luGt2fhBsj_mjye4aK8EfIAXH9SHj1wmni6aZPXIl7lChbuSzgQKk0e2lAA47HY8sXwo-wxUXcgFuSQGSKrK-ZxMGkWlf37j5sjawkZiKXHMncR0WTROQJxxgTNQwz1WOKkRlnPMAhHjCaMh-JU87HdocwEzIrWWRTIhlyJWQvtXfn-hR7IqrfqRS7nKvFKcUaUKKwPr_TwtQJv4pKg9qISR5cuOX_OI89lD2PbNoltJcivhiwMjUvM9cibdvUqib4qZzKrObtCsUUZSjKhGm8XK4htJuud9L1mMamfn2P9OkbK6f_eg!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MTYxL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMTkx\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. BinDawood provided no further information on when the supermarkets might open, how much the agreement might be worth, or whether it was taking a stake or offering technical assistance as part of the potential transaction. <\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Senegal looks set to scrap a planned desalination project by renewables giant <\/strong><strong>Acwa <\/strong><strong>Power<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/senegal-scraps-water-desalination-deal-with-saudi-firm-acwa-power-2024-07-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported, citing statements by the West African country\u2019s Water and Sanitation Minister, Cheikh Tidiane Diey. \u201cThe price of water will become more expensive in the long run because of the technology used to produce it,\u201d the minister said in televised statements. \u201cI said that it [the project] is not going to happen.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dakar would be turning its back on <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/79b65b75-215e-4235-812e-5180e5204c25\" style=\"\" rel=\"noopener\">what could have been<\/a><\/strong><strong> the <\/strong><strong>Subsahara's<\/strong><strong> largest <\/strong><strong>desalination plant.<\/strong> Acwa Power signed the contracts for USD 800 mn project back in March. <\/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>#1- Aramco slashed the official selling price for sales to its Asian customers for a second <\/strong><strong>consecutive month<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-04\/aramco-cuts-aug-crude-prices-to-asia-in-sign-of-weaker-demand\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Kingdom\u2019s overseas crude shipments hit a 10-month low in June <\/strong>at 168 mn barrels \u2014 about 5.6 mn barrels a day \u2014 as summertime <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5b22d0a1-d714-4736-ad7e-ca10d2ec96a3\" style=\"\" rel=\"noopener\">demand for energy<\/a> peaks, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2024-07-05\/saudi-oil-exports-plummet-to-pandemic-era-levels-with-benefits-for-russia\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing vessel tracking data and other data providers. The figure for daily exports is only 250k barrels above the lowest level since the pandemic in 2020. Shipments of Saudi crude to China hit its lowest since mid-2020 with 1.27 mn barrels a day, with exports to India reporting its lowest since mid-2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SIGN OF THE TIMES- Is the pace of investment in new production slowing? <\/strong>That\u2019s one way of interpreting the latest <a target=\"_blank\" href=\"https:\/\/rigcount.bakerhughes.com\/intl-rig-count\" style=\"\" rel=\"noopener\">Baker Hughes Worldwide Rig Count Report<\/a>, which shows that: <\/p>\n<ul>\n<li><strong>The Middle East added only one net new rig in June<\/strong> compared to the previous month, bringing the total deployed to 342 units (+13 units y-o-y). Saudi Arabia has 85 rigs in the field. <\/li>\n<li>The total number of <strong>rigs deployed internationally rose by 32 units m-o-m in June <\/strong>to 1.7k, but by 93 units from the same month last year. Excluding Canada and the US, the international rig count grew only four units m-o-m to 957. <\/li>\n<\/ul>\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>The US presidential election is once again front and center in the global business press<\/strong>, with pressure on Joe Biden to quit the race for the White House <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/07\/06\/us\/politics\/biden-campaign-democrats.html\" style=\"\" rel=\"noopener\">continuing to build<\/a> nine days after his disastrous debate performance against Donald Trump. His first televised post-debate interview over the weekend with ABC News (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=0kpibhlagG0\" style=\"\" rel=\"noopener\">watch, runtime: 31:23<\/a>) failed to quell concerns about his age and ability to secure a second term in the White House, with the Wall Street Journal describing Biden\u2019s defiant tone as <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/bidens-abc-interview-showed-a-president-in-denial-1b865885?mod=hp_lead_pos8\" style=\"\" rel=\"noopener\">a president in denial<\/a> <strong>.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Major <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/the-week-when-big-biden-donors-started-defecting-4c7af9f1?mod=hp_lead_pos7\" style=\"\" rel=\"noopener\">donors<\/a><\/strong><strong>, political strategists, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/elections\/2024\/07\/06\/biden-democrats-presidential-campaign\/\" style=\"\" rel=\"noopener\">elected officials<\/a><\/strong><strong>, and rank-and-file party members are <\/strong><strong>calling on Biden to \u201cpass the torch,\u201d <\/strong>but Biden has knuckled down, telling ABC that only \u201cthe Lord almighty\u201d could <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/07\/05\/us\/politics\/biden-interview-stephanopoulos-abc.html\" style=\"\" rel=\"noopener\">convince him<\/a> to drop out of the race.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The year of elections is continuing to live up to its name elsewhere in the world<\/strong>, with <strong>Iran<\/strong> <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/07\/06\/world\/middleeast\/iran-president-election-takeaways.html\" style=\"\" rel=\"noopener\">electing<\/a> Masoud Pezeshkian to the presidency \u2014 the country first reformist president in <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d1e10d95-68ed-4282-8b3d-44e1c36ea995\" style=\"\" rel=\"noopener\">two decades<\/a>. Over in the <strong>United Kingdom<\/strong>, Keir Starmer has formed a government after a Labour Party <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/politics\/ng-interactive\/2024\/jul\/04\/uk-general-election-results-2024-live-in-full\" style=\"\" rel=\"noopener\">landslide<\/a> that saw the Conservative Party\u2019s worst result in nearly two centuries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In our corner of the world, a temporary Gaza ceasefire may once again be in reach<\/strong>, after Hamas <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/talks-free-israeli-hostages-start-16-day-period-after-first-phase-hamas-source-2024-07-06\/\" style=\"\" rel=\"noopener\">accepted<\/a> a US proposal to open talks on the release of Israeli hostages and dropped its long-standing demand that Israel agree to a permanent ceasefire before inking any agreement. <strong>Israeli and US delegations are set to arrive in Egypt to discuss a truce<\/strong>, an unnamed high-level government official <a target=\"_blank\" href=\"https:\/\/alqaheranews.net\/news\/86639\/%D9%85%D8%B5%D8%AF%D8%B1-%D8%B1%D9%81%D9%8A%D8%B9-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%88%D9%89-%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%AA%D8%B6%D9%8A%D9%81-%D9%88%D9%81%D9%88%D8%AF%D8%A7-%D8%A5%D8%B3%D8%B1%D8%A7%D8%A6%D9%8A%D9%84%D9%8A%D8%A9-%D9%88%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9-%D9%84%D9%84%D8%AA%D8%A8%D8%A7%D8%AD%D8%AB-%D8%AD%D9%88%D9%84-%D8%A7%D9%84%D8%AA%D9%87%D8%AF%D8%A6%D8%A9-%D8%A8%D8%BA%D8%B2%D8%A9\" style=\"\" rel=\"noopener\">told<\/a> Al Qahera News.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>With little to no business news in sight this morning, <\/strong>some outlets have picked on how European exports of cognac have allegedly become the <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/china-cognac-probe-is-reaction-eu-car-tariffs-says-hennessy-owner-lvmh-2024-07-06\/\" style=\"\" rel=\"noopener\">latest casualty<\/a> in the tit-for-tat trade war between the EU and China, according to comments yesterday from the finance head of luxury goods conglomerate and Hennesy cognac parent company LVMH. The EU\u2019s third largest market for exports announced that it would hold a hearing on an anti-dumping probe into cognac from the bloc on Friday, two days after the bloc <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cy99z53qypko\" style=\"\" rel=\"noopener\">raised tariffs<\/a> on Chinese-made EVs from some manufacturers by up to 38%. <\/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\/altice\/\">Altice<\/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\/stc\/\">STC<\/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=\"87576\" 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\/108985.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>The Luxury of Certainty<\/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=\"87577\" 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=\"87577\">\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\">COFFEE WITH\u2026<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/the-view-from-dc-on-our-growing-business-ties-with-the-united-states\/\">\r\n                            The view from DC on our growing business ties with the United States                        <\/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\/07\/the-view-from-dc-on-our-growing-business-ties-with-the-united-states\/\" 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\/07\/the-view-from-dc-on-our-growing-business-ties-with-the-united-states\/')\">\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\/07\/the-view-from-dc-on-our-growing-business-ties-with-the-united-states\/\">\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=The view from DC on our growing business ties with the United States&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/the-view-from-dc-on-our-growing-business-ties-with-the-united-states\/\">\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\/07\/the-view-from-dc-on-our-growing-business-ties-with-the-united-states\/&title=The view from DC on our growing business ties with the United States\">\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=The+view+from+DC+on+our+growing+business+ties+with+the+United+States+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F07%2Fthe-view-from-dc-on-our-growing-business-ties-with-the-united-states%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\/07\/the-view-from-dc-on-our-growing-business-ties-with-the-united-states\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/462.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87578\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/the-view-from-dc-on-our-growing-business-ties-with-the-united-states\/462-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/462.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"462.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/462.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/462.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87577\" class=\"content-area-description single-story post-87577 post type-post status-publish format-standard has-post-thumbnail hentry category-coffee-with tag-business tag-coffee-with tag-enterpriseam-ksa tag-investment-watch tag-trade tag-us-chamber-of-commerce 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\/.b40b953d-8469-4647-b599-7926cc4c2d7f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Coffee <\/strong><strong>with: Steve Lutes, Vice President and Deputy Head for the Middle East, Central <\/strong><strong>Asia, and T\u00fcrkiye <\/strong><strong>at the<\/strong><strong> US Chamber of Commerce.<\/strong> His responsibilities include formulating and executing policies and programs that make it easier for US companies to invest and do business in Saudi Arabia, the UAE, Egypt, Iraq, Qatar, Kuwait, Oman, and Bahrain.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We sat down with Lutes to discuss the US investor sentiment toward Saudi Arabia<\/strong>, what sectors capture their attention, to what degree the legislative framework is supportive of foreign investments, along with the chamber\u2019s future plans for the Kingdom. We spoke in the wake of a busy week for bilateral relations that saw a flood of meetings between businesses and government officials on both sides. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Enterprise: The US-Saudi bilateral investment relations have been gaining a lot of <\/strong><strong>momentum recently. Tell us more about last month\u2019s meetings.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Steve Lutes: <\/strong>We hosted an investment forum titled \u201cInvesting In Our Shared Future\u201d in collaboration with the Saudi Ministry of Investment and the US Embassy in Riyadh along with two roundtables on the sidelines of the SelectUSA conference in Maryland. This was to leverage the presence of a substantial Saudi delegation. The forum showcased US business perspectives on Saudi Arabia and identified key growth areas in the bilateral economic relationship. We use these gatherings to engage the private sector on both sides and ensure their perceived challenges to trade and investment are highlighted to government officials. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What were the big topics? Who participated?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SL: <\/strong>We hosted panels on innovation in research and development, the future of healthcare with Pfizer on the panel, and I moderated a discussion on AI, digital, data governance with a panelist for Google. We also had a panel looking at sustainable, and advanced manufacturing and PepsiCo was on that one. Also KSA-based restaurant management and POS solutions provider <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6272cd5c-a749-493b-8f2c-a93895c04678\/\" style=\"\" rel=\"noopener\">Foodics<\/a> was on the panels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: In which sectors are US businesses particularly interested?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SL: <\/strong>We see significant opportunities in the Saudi economy, particularly in sectors like the digital economy, where AI and fintech play crucial roles. Healthcare is also a major focus, especially in light of the pandemic, driving innovation in R&D, biopharmaceuticals, and medtech. Additionally, the Saudi Green Initiative and energy transition, alongside sustainable and advanced manufacturing, are areas of keen interest to US companies. Tourism is also on the list.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What regulatory policies would like to see that would create a more attractive <\/strong><strong>business environment in Saudi? Is there anything currently in place that\u2019s a barrier to investment?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SL: <\/strong>Big credit there to the National Competitiveness Center (NCC) and the Saudi government overall for establishing the public consultation platform <a target=\"_blank\" href=\"https:\/\/istitlaa.ncc.gov.sa\/ar\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Istitlaa<\/a> to ensure there is a way businesses and the public can weigh-in on new policies. We refer people there all the time and we work hand in glove with the NCC.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/87eda04f-8799-43ec-8360-cf8b49594df3\" style=\"\" rel=\"noopener\">Personal Data Protection Law (PDPL)<\/a><\/strong><strong> is another prime example of the kind of <\/strong><strong>policies US <\/strong><strong>investors want to see more of in the Kingdom.<\/strong> While the overarching piece of policy is in a very good place, we\u2019re still trying to work through some industry-specific concerns. There's some very nuanced considerations when it comes to health data and payments data or financial data, because when you think about it a patient's data obviously is very important to that patient, but to really leverage the ability of large multinational companies that are operating in the Kingdom\u2019s health ecosystem, you need to be able to do certain things with that data as well as in the research space.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Offset requirements imposed by government procuring bodies are another opportunity <\/strong><strong>area.<\/strong> These policies require the bidders of contracts valued at SAR 100 mn or more to reinvest 35% of the contract value back into the Kingdom. While this could have been modeled off a long-standing practice in the defense sector, challenges arose when attempting to apply this model to sectors like healthcare and events, which have vastly different dynamics compared to defense. <strong>The policy prompted concerns about feasibility, compliance timelines<\/strong>, and the definition of investment. I think the intentions of the content authority and all the players involved are good and I understand what they're trying to accomplish \u2014 I think we can marry their objectives with the willingness of industry to come to the table.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How are US companies reacting to Saudi\u2019s regional headquarters policy?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SL: <\/strong>The policy has seen considerable interest and success, with numerous companies engaging in extensive discussions and webinars facilitated by the Investment Ministry to address queries and concerns. Establishing regional offices involves complex decisions on relocating assets and personnel, with implications for long-term market commitment. The Ministry\u2019s openness and responsiveness in addressing these complexities have been crucial, leading to several major US firms announcing their regional headquarters in the Kingdom. I think it's currently more a question of just fitting into the parameters of what constitutes a regional headquarter and working through some of those things and making sure that it matches up with US companies\u2019 global plans and their business model.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What concerns do businesses on both sides have right now?<\/strong> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SL:<\/strong> One of the challenges mentioned by Saudi investors was the issue of visas. This was highlighted during discussions, particularly concerning delays and backlogs in visa processing. Attracting FDI to all 50 states, including heavyweights like Aramco and SABIC, necessitates business leaders' ability to travel to the US for meetings and site visits. The backlog, exacerbated by the pandemic globally, has affected visa issuance and other necessary travel documents. Efforts by the U.S. State Department and embassies worldwide are underway to address these issues and expedite visa processing, ensuring that Saudi businesspersons can attend conferences, meetings, and seize investment opportunities without delay. It is crucial to maintain focus and allocate resources to clear backlogs promptly, providing certainty and clarity to facilitate timely business engagements and partnerships.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: You\u2019ve mentioned R&D quite a few times \u2014 let\u2019s unpack that.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SL: <\/strong>In many discussions, the focus often turns to the need for new manufacturing facilities. However, the real potential for growth lies in innovation in R&D. For example, in the pharmaceutical sector, companies allocate the vast majority of their investments to R&D, and the remaining to CapEx. When attracting investments, it's crucial for Saudi Arabia and governments worldwide to not solely focus on infrastructure, but also aim to attract investment in R&D. This underscores the importance of fostering favorable regulatory environments, nurturing human capital, and building supportive ecosystems to appeal to this substantial portion of investment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: You also mentioned tourism, which is currently a major focus in the Kingdom. Could <\/strong><strong>you provide more details on how US companies are engaging in this sector?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SL: <\/strong>I find Saudi Arabia's burgeoning tourism sector particularly exciting due to its diverse attractions such as AlUla and the Red Sea. These destinations offer a unique blend of natural beauty and cultural richness. Notably, hospitality giants like <strong>Hilton<\/strong> and <strong>Marriott<\/strong> are expanding their presence to meet the growing demand for tourism infrastructure. Financial service providers like <strong>Visa<\/strong> and <strong>Mastercard<\/strong> are also playing a crucial role by introducing advanced payment technologies to enhance the tourist experience. These developments present numerous opportunities for US companies interested in contributing to the Kingdom\u2019s evolving tourism landscape.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What\u2019s next for the Chamber in Saudi?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SL: <\/strong>We are set to bring a US space delegation, comprising the whole spectrum of players in the space industry, to the Kingdom later this year, to learn more about the opportunities and objectives of the Saudi Space Agency and CST. We know that there's been a lot of government-to-government discussions and delegations visiting back and forth and a lot of conversation. But again, I think to completely build out the sector to take advantage of this, you want industry there and you want not just space companies, but there's many players across the ecosystem. We haven't formally come out with the dates, but we're going to be doing so soon.<\/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\/business\/\">BUSINESS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/coffee-with\/\">COFFEE WITH\u2026<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/us-chamber-of-commerce\/\">US Chamber of Commerce<\/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=\"87579\" 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=\"87579\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/non-oil-private-sector-activity-grows-at-slowest-pace-since-january-2022\/\">\r\n                            Saudi\u2019s non-oil private sector activity grew in June 2024 at the slowest pace in more than two years                        <\/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\/07\/non-oil-private-sector-activity-grows-at-slowest-pace-since-january-2022\/\" 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\/07\/non-oil-private-sector-activity-grows-at-slowest-pace-since-january-2022\/')\">\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\/07\/non-oil-private-sector-activity-grows-at-slowest-pace-since-january-2022\/\">\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=Non-oil private sector activity grows at slowest pace since January 2022&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/non-oil-private-sector-activity-grows-at-slowest-pace-since-january-2022\/\">\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\/07\/non-oil-private-sector-activity-grows-at-slowest-pace-since-january-2022\/&title=Non-oil private sector activity grows at slowest pace since January 2022\">\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=Non-oil+private+sector+activity+grows+at+slowest+pace+since+January+2022+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F07%2Fnon-oil-private-sector-activity-grows-at-slowest-pace-since-january-2022%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\/07\/non-oil-private-sector-activity-grows-at-slowest-pace-since-january-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/24.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87580\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/non-oil-private-sector-activity-grows-at-slowest-pace-since-january-2022\/24-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/24.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"24.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/24.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/24.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87579\" class=\"content-area-description single-story post-87579 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-ksa tag-non-oil-economy tag-purchasing-managers-index-pmi 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\/.1233ffec-7e22-40c0-b3b6-4b4eb7fdd4d8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Non-oil business activity remained in growth territory last month \u2014 but <\/strong><strong>expanded at its <\/strong><strong>slowest pace in two and a half years<\/strong>, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/286.pdf\" style=\"\" rel=\"noopener\">Riyad Bank Saudi Arabia PMI (pdf)<\/a>. The headline PMI figure came in at 55.0 in June from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9b296a8d-994f-41e5-81cd-69f70ec98b50\" style=\"\" rel=\"noopener\">56.4 in May<\/a> driven by higher output levels despite a drop in new orders, input purchases, and employment. It remains well above the 50.0 threshold that separates growth from contraction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New orders took a hit<\/strong> as demand softened in the Kingdom. Intake rates were partially buoyed by a strong boost to export sales, which jumped up at the fastest rate recorded this year. The subindex settled at 56.0 down from 59.5 the previous month, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-non-oil-activity-grows-slowest-pace-2-12-years-pmi-shows-2024-07-03\/\" style=\"\" rel=\"noopener\">Reuters reported<\/a>. June saw businesses\u2019 reduce their purchasing activity, following a period of unparalleled inventory expansion in recent months, resulting in purchases growing at its weakest level since September 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Output increased on the back of existing order books<\/strong>, cutting down backlog volumes in the Kingdom\u2019s non-oil sector. Businesses reported a rise in their employment numbers, yet rates were \u201conly modest and milder than in May\u201d, tapered by wage pressures forcing constraints onto operational costs. Delivery speed continued to improve. Inflation declined, yet, overall input costs increased at their quickest pace in the last four months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Optimistic despite the slowdown in growth:<\/strong> \u201cLooking at the second quarter as a whole, the growth figures for Q2 still indicate a positive outlook for non-oil GDP in Saudi Arabia, with expectations of growth exceeding 3%,\u201d Riyad Bank Chief Economist Naif Al-Ghaith is quoted as saying in the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Non-oil growth is central to the Kingdom\u2019s diversification strategy designed to reduce its reliance on oil revenues. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6c7b50e3-505d-4cec-99bb-edc2bbe7119d\" style=\"\" rel=\"noopener\">The World Bank<\/a> \u2014 and more recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c5874637-e06c-4fdb-85fb-993a680d24b6\" style=\"\" rel=\"noopener\">Riyad Capital<\/a> \u2014 expect the local non-oil economy to grow a strong 4.8% this year, up from 4.4% in 2023. Meanwhile, the government is gunning for a non-oil GDP of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1dfc08e3-862b-4799-ad63-f7e3163627d7\" style=\"\" rel=\"noopener\">4.5-5.0% in 2024<\/a>.<\/p>\n<p class=\"tag-border-left\">FROM THE REGION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s PMI hit its highest level in three years<\/strong> at <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/375.pdf\" style=\"\" rel=\"noopener\">49.9 in June (pdf)<\/a> from 49.6 in May;<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE\u2019s PMI slipped<\/strong> to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/287.pdf\" style=\"\" rel=\"noopener\">54.6 in June (pdf)<\/a> from 55.3 in May;<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qatar\u2019s PMI rose to a 23-month high<\/strong> of <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/433.pdf\" style=\"\" rel=\"noopener\">55.9 in June (pdf)<\/a> up from 53.6 in May.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kuwait\u2019s PMI inched down<\/strong> to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/432.pdf\" style=\"\" rel=\"noopener\">51.6 in June (pdf)<\/a>  from 52.4 in May;<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/non-oil-economy\/\">Non-oil economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/purchasing-managers-index-pmi\/\">Purchasing Manager\u2019s Index (PMI)<\/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=\"87581\" 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=\"87581\">\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\">Sports<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/another-wave-of-sports-privatization-next-month\/\">\r\n                            14 sports clubs to be offered to local, foreign investors in second phase of privatization                        <\/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\/07\/another-wave-of-sports-privatization-next-month\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/another-wave-of-sports-privatization-next-month\/')\">\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\/07\/another-wave-of-sports-privatization-next-month\/\">\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=Another wave of sports privatization next month&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/another-wave-of-sports-privatization-next-month\/\">\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\/07\/another-wave-of-sports-privatization-next-month\/&title=Another wave of sports privatization next month\">\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=Another+wave+of+sports+privatization+next+month+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F07%2Fanother-wave-of-sports-privatization-next-month%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\/07\/another-wave-of-sports-privatization-next-month\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/466.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87582\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/another-wave-of-sports-privatization-next-month\/466-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/466.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"466.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/466.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/466.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87581\" class=\"content-area-description single-story post-87581 post type-post status-publish format-standard has-post-thumbnail hentry category-_newspack_sports tag-enterpriseam-ksa tag-football tag-privatization tag-public-investment-fund-pif tag-sports tag-sports-ministry 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\/.9a27cb99-8c90-4dfd-9023-3c614bea8cb8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> More sports clubs up for grabs: <\/strong>Some 14 football clubs from various divisions are set to go private in the second phase of a privatization program aimed at lining up investment in the industry, according to a <a target=\"_blank\" href=\"https:\/\/x.com\/mosgovsa_en\/status\/1808519153029951689\" style=\"\" rel=\"noopener\">statement on X<\/a> by the Sports Ministry. <strong>Both domestic and foreign investors will be invited to bid<\/strong> in the sale process, which the ministry is running with the National Center for Privatization and Public-Private Partnerships (NCP).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first batch of clubs set in the second phase include Al Zulfi<\/strong>, Al Nahda, Al Okhdood, Al Ansar, Al Orouba and Al Kholoud, according to the statement. Investors looking to invest in the six clubs can register their interest starting in August, it added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The second batch<\/strong> will include Al Shoulla, Hajar, Al Najma, Al Riyadh, Al Rawda, Jeddah, Al Taraji and Al Sahel. Those clubs will be offered to investors \u201cat a later date,\u201d the ministry said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This has been in the works for a while: <\/strong>The second phase of the program was announced in December last year as officials look to open the sector to both global and global investors. The first phase helped rake in \u201csignificant commercial revenue growth\u201d for the Saudi Pro League, <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20240704-all-saudi-top-tier-football-clubs-to-go-private-ministry\" style=\"\" rel=\"noopener\">AFP<\/a> reported, citing statements from the ministry. The ministry was said to be looking to raise some SAR 1.8 bn (c. USD 480 mn) annually from the upcoming wave of privatization.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> The first phase of the program saw top football clubs Al Ittihad, Al Ahli, Al Nassr, and Al Hilal <a target=\"_blank\" href=\"https:\/\/aawsat.com\/%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6%D8%A9\/%D8%B1%D9%8A%D8%A7%D8%B6%D8%A9-%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\/4761746-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D9%81%D8%AA%D8%AD-%D8%A7%D9%84%D8%A8%D8%A7%D8%A8-%D8%A3%D9%85%D8%A7%D9%85-%D8%A7%D9%84%D8%AC%D9%87%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85%D9%8A%D8%A9-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D9%81%D9%8A-%D8%A7%D9%84%D8%A3%D9%86%D8%AF%D9%8A%D8%A9-%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">transferred to the PIF<\/a> in June last year under the program launched by Crown Prince and Prime Minister Mohamed bin Salman. Under the plan, the four clubs were transformed into companies with the PIF holding a 75% stake, with the remaining 25% being up for grabs via their general assemblies, Sports Minister Prince Abdulaziz bin Turki Al Faisal said at the time. The first stage of the scheme helped the four clubs sign some of the world\u2019s top football stars (think Cristiano Ronaldo, Karim Benzema and others), with the league\u2019s clubs <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/soccer\/saudi-spending-transfer-window-second-only-premier-league-2023-09-08\/\" style=\"\" rel=\"noopener\">collectively spending<\/a> almost USD 1 trn in last year\u2019s summer transfer window.<\/p>\n<p class=\"tag-border-left\">IN OTHER SPORTS NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Ittihad has parted ways with its coach Marcelo Gallardo<\/strong> after the club announced the termination of the Argentinian manager\u2019s contract in a <a target=\"_blank\" href=\"https:\/\/x.com\/ittihad\/status\/1808211984015302877\" style=\"\" rel=\"noopener\">post on X<\/a>. Gallardo had come in to replace the former English Premier League manager Nuno Espirito Santo in November in hopes to revive the team\u2019s fortunes, but fell short of reversing results after finishing 5th in the league last season, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/soccer\/al-ittihad-sack-argentine-manager-gallardo-2024-07-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported.<\/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\/football\/\">football<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/privatization\/\">privatization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports-ministry\/\">Sports Ministry<\/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=\"87583\" 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=\"87583\">\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\">MANUFACTURING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/pif-defense-champion-sami-inks-manufacturing-and-tech-agreements-with-turkish-companies\/\">\r\n                            PIF defense champion Sami inks manufacturing and tech agreements with Turkish companies                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/pif-defense-champion-sami-inks-manufacturing-and-tech-agreements-with-turkish-companies\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/pif-defense-champion-sami-inks-manufacturing-and-tech-agreements-with-turkish-companies\/')\">\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\/07\/pif-defense-champion-sami-inks-manufacturing-and-tech-agreements-with-turkish-companies\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=PIF defense champion Sami inks manufacturing and tech agreements with Turkish companies&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/pif-defense-champion-sami-inks-manufacturing-and-tech-agreements-with-turkish-companies\/\">\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\/07\/pif-defense-champion-sami-inks-manufacturing-and-tech-agreements-with-turkish-companies\/&title=PIF defense champion Sami inks manufacturing and tech agreements with Turkish companies\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=PIF+defense+champion+Sami+inks+manufacturing+and+tech+agreements+with+Turkish+companies+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F07%2Fpif-defense-champion-sami-inks-manufacturing-and-tech-agreements-with-turkish-companies%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\/07\/pif-defense-champion-sami-inks-manufacturing-and-tech-agreements-with-turkish-companies\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/464.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87584\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/pif-defense-champion-sami-inks-manufacturing-and-tech-agreements-with-turkish-companies\/464-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/464.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"464.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/464.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/464.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87583\" class=\"content-area-description single-story post-87583 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-defense tag-enterpriseam-ksa tag-manufacturing tag-public-investment-fund-pif tag-saudi-arabian-military-industries-sami 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\/.4a564c52-7a3a-412c-8a93-c6b96a6762a4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> PIF defense manufacturing champion Sami has inked three localization agreements with <\/strong><strong>Turkey: <\/strong>Saudi Arabian Military Industries (Sami) has inked MoUs with three Turkish defense firms aimed at the localization of defense industries, the PIF company said in <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/samidefense_aepaeuaepaewaeuaezaepaepaeyaer-aeuaeqaeuaeyabraetaebaesaeqaeqaesabraepaesaexaepaepaeh-activity-7214390467059159041-TCMj?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">a LinkedIn post<\/a>. a Sami is a wholly-owned subsidiary of the Public Investment Fund (PIF).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Drone manufacturing facility: <\/strong><span style=\"background-color: transparent;\">Sami said it signed an that will see Istanbul-based drone manufacturer <\/span><a target=\"_blank\" href=\"https:\/\/baykartech.com\/en\/\" rel=\"noopener\">Baykar<\/a><span style=\"background-color: transparent;\"> \u201cestablish manufacturing capabilities\u201d and develop systems for the Turkish firm\u2019s unmanned aerial vehicles in Saudi. Baykar will develop the necessary technology and transfer intellectual property to the Kingdom, it said, without providing additional details.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Electronic warfare and space: <\/strong>A second MoU will see Sami and Ankara-based defense corporation <a target=\"_blank\" href=\"https:\/\/www.aselsan.com\/tr\" style=\"\" rel=\"noopener\">Aselsan<\/a> \u201cexplore opportunities\u201d for the transfer, localization, and development of electronic warfare technologies here. Sami also signed an MoU with Turkish tech player <a target=\"_blank\" href=\"https:\/\/ferganispace.com\/en\/\" style=\"\" rel=\"noopener\">Fergani Space<\/a> to establish a \u201ccenter of excellence\u201d to locally develop emerging technologies to serve the global space sector. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been a busy year for the defense industry:<\/strong> Some 61 contracts worth SAR 26 bn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/17742dc8-2476-43a5-8255-8cbcdf3d0c0e\" style=\"\" rel=\"noopener\">were<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/17742dc8-2476-43a5-8255-8cbcdf3d0c0e\" style=\"\" rel=\"noopener\">signed<\/a> at the World Defense Show in Riyadh in February. This is up from SAR 21 bn worth of purchase agreements signed in 2022. The event saw Sami <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b7c0bc70-8b39-47b4-a4aa-d1500eb5a18e\" style=\"\" rel=\"noopener\">signing multiple agreements<\/a> or MoU with leading global defense firms, including US arms maker Lockheed Martin and others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The Kingdom has a target of localizing over 50% of its military equipment spending by 2030.<\/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\/defense\/\">Defense<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-arabian-military-industries-sami\/\">Saudi Arabian Military Industries (Sami)<\/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=\"87585\" 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=\"87585\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/will-a-reformist-president-in-tehran-open-the-door-to-deeper-ties\/\">\r\n                            Will a reformist president in Tehran open the door to deeper ties?                        <\/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\/07\/will-a-reformist-president-in-tehran-open-the-door-to-deeper-ties\/\" 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\/07\/will-a-reformist-president-in-tehran-open-the-door-to-deeper-ties\/')\">\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\/07\/will-a-reformist-president-in-tehran-open-the-door-to-deeper-ties\/\">\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=Will a reformist president in Tehran open the door to deeper ties?&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/will-a-reformist-president-in-tehran-open-the-door-to-deeper-ties\/\">\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\/07\/will-a-reformist-president-in-tehran-open-the-door-to-deeper-ties\/&title=Will a reformist president in Tehran open the door to deeper ties?\">\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=Will+a+reformist+president+in+Tehran+open+the+door+to+deeper+ties%3F+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F07%2Fwill-a-reformist-president-in-tehran-open-the-door-to-deeper-ties%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\/07\/will-a-reformist-president-in-tehran-open-the-door-to-deeper-ties\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/472.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87586\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/will-a-reformist-president-in-tehran-open-the-door-to-deeper-ties\/472-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/472.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"472.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/472.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/472.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87585\" class=\"content-area-description single-story post-87585 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-aid tag-crown-prince tag-diplomacy tag-enterpriseam-ksa tag-gaza tag-iran-faisal-bin-farhan tag-israel tag-king-salman tag-ksrelief tag-masoud-pezeshkian 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\/.e5306b8f-45cc-4a28-a922-bbb51f7435e6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> King Salman and Crown Prince and Prime Minister Mohammed bin Salman have both <\/strong><strong>congratulated Iranian president-elect Masoud Pezeshkian<\/strong>, state news agency SPA reported (<a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2134105\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2134103\" style=\"\" rel=\"noopener\">here<\/a>). King Salman said in a message that the Kingdom was \u201clooking forward to continue developing relations between the two countries and continued consultations and dialogue to bolster regional and international peace and security.\u201d The Crown Prince said he was keen on developing and deepening relations between Riyadh and Tehran.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meet Iran\u2019s next president:<\/strong> Pezeshkian, who is seen as a reformist, beat hardline rival Saeed Jalili in a second-round runoff that saw him secure 53.3% of the vote. No candidate was able to secure a majority in the first round of voting in late June. Pezeshkian, who is a member of the Iranian parliament, has been a vocal critic of Iran\u2019s morality police and has vowed to deepen Iran\u2019s ties with the international community. <\/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\/aid\/\">aid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/crown-prince\/\">Crown Prince<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/iran-faisal-bin-farhan\/\">Iran Faisal bin Farhan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/king-salman\/\">King Salman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ksrelief\/\">KSRelief<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/masoud-pezeshkian\/\">Masoud Pezeshkian<\/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=\"87587\" 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=\"87587\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/new-appointments-at-four-tadawul-listed-companies\/\">\r\n                            Leadership reshuffle at four publicly listed companies                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/new-appointments-at-four-tadawul-listed-companies\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/new-appointments-at-four-tadawul-listed-companies\/')\">\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\/07\/new-appointments-at-four-tadawul-listed-companies\/\">\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=New appointments at four Tadawul-listed companies&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/new-appointments-at-four-tadawul-listed-companies\/\">\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\/07\/new-appointments-at-four-tadawul-listed-companies\/&title=New appointments at four Tadawul-listed companies\">\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=New+appointments+at+four+Tadawul-listed+companies+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F07%2Fnew-appointments-at-four-tadawul-listed-companies%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\/07\/new-appointments-at-four-tadawul-listed-companies\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/460.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87588\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/new-appointments-at-four-tadawul-listed-companies\/460-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/460.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"460.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/460.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/460.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87587\" class=\"content-area-description single-story post-87587 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-elm tag-enterpriseam-ksa tag-moves tag-tabuk-agricultural-development tag-umm-al-qura-cement 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\/.0d48bbb8-8eac-41b8-83d7-22e891883e47.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PIF-owned digital security firm Elm has appointed Mohammad Abdulaziz Alomair <\/strong>(<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/alomair\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Linkedin<\/a>) as its new CEO, succeeding Abdulrahman Saad AlJadhai, 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\/lVDLbsIwEPyWHjiCN0SEtDe3qCGId6BALsgxSxIpiSPHgdKvbx5IiBYqavngHc_Mzi5xyZq4CTuEPlOhSFhU1BvX2HaoAe2-CRPoL97AAMcylgtT67UNsrommCPLgNmYzibtbgesDyDuv_TgTDswe5-O9CHMwQLjMT3cOfSB_u41ZUKfu0WCwatlD6luGt2fhBsj_mjye4aK8EfIAXH9SHj1wmni6aZPXIl7lChbuSzgQKk0e2lAA47HY8sXwo-wxUXcgFuSQGSKrK-ZxMGkWlf37j5sjawkZiKXHMncR0WTROQJxxgTNQwz1WOKkRlnPMAhHjCaMh-JU87HdocwEzIrWWRTIhlyJWQvtXfn-hR7IqrfqRS7nKvFKcUaUKKwPr_TwtQJv4pKg9qISR5cuOX_OI89lD2PbNoltJcivhiwMjUvM9cibdvUqib4qZzKrObtCsUUZSjKhGm8XK4htJuud9L1mMamfn2P9OkbK6f_eg!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC83MjAzL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMTg2\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Alomair will assume the responsibilities of his new position on Tuesday, 1 October 2024. He was previously Elm\u2019s chief digital products officer.<\/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>Tadawul-listed Umm Al-Qura Cement tapped<\/strong><strong> Abdullah Abdulaziz<\/strong><strong> as its next chairman, <\/strong><strong>and Saud <\/strong><strong>Mohamed <\/strong><strong>Al-Sabhan (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/saud-alsabhan-8a857ab8\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Linkedin<\/a><\/strong><strong>) as vice chairman<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8zMDA1L2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMjA2\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Abdulaziz currently holds positions at Saudi Telecom Company, Al-Abdullatif Holding Group, and Kayan Petrochemical Company. Al-Sabhan is currently the managing director of Bohoor International Investment Company and has previously worked at the Saudi Industrial Development Fund. More information on Umm Al-Qura\u2019s new board members is available <a target=\"_blank\" href=\"https:\/\/uacc.com.sa\/en\/board-of-directors\/\" style=\"\" rel=\"noopener\">here.<\/a> <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul-listed Almasane Alkobra Mining Company (Amak) appointed Nihat Soyer <\/strong>(<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/nihat-soyer-92562047\/?originalSubdomain=tr\" style=\"\" rel=\"noopener\">Linkedin<\/a>)<strong> as its new acting CEO<\/strong>, succeeding Christopher Gerard Warwick (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/nihat-soyer-92562047\/?originalSubdomain=tr\" style=\"\" rel=\"noopener\">Linkedin<\/a>), it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8xMzIyL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMjA0\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Soyer brings 30 years of experience in the mining industry in the Kingdom, Turkey, Albania, and Kyrgyzstan.<\/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>The board of Tadawul-listed Tabuk Agricultural Development (Tadco) has reappointed <\/strong><strong>Majid Al Suwaigh (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/majid-al-suwaigh-13167614a\/\" style=\"\" rel=\"noopener\">Linkedin<\/a><\/strong><strong>) as its chairman<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNc4IwEP0tPXjULFKR9pbWKer4hWhVLk6IKzIDhAlBan99QZxxtNqxmRyyL--9fbvEJUvixmwf-EwFImZhUa9cY92iBjS7JoyhO3sHAxzLmM9MrdM0yOKSYA4tA-wRtcfNdgusTyDuv_TgTFpgf0yG-gCmYIHxmB7uHPpAf_eSMqYv7SJB_83qDahuGu1rwo0Rr5r8nuFI-CNkn7h-KLxq4TT2dNMnrsQtSpSNTBbwTqkkfa1BDfI8b_hC-CE2uIhqcEuyE6kiy0smcTA-rqt9dx89jSwkpiKTHMnUR0XjWGQxxwhjNQhS1WGKEZszvsMB7jGcMB-JU87HNvsgFTItWWRVIilyJWQn6W1O9SHyRFi9Eyk2GVezQ4IVoERhfXonhakTfBeVBpURk3x35pb_oyzyUHY8snouoa0U0dmAlal5mbkSaeu6dmyCX8o5mlW8TaGYoAxEmTCJ5vMlBL266x10PaKRqV_enD79AHgu0oI!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC82MDQwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMTcz\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Al Suwaigh has been serving as the company\u2019s chairman since July 2021. He is also a board member at Tadawul-listed companies L\u2019azurde and Middle East Specialized Cables. Tadco also named <strong>Ahmed Sirag Khogeer<\/strong> (<a target=\"_blank\" href=\"http:\/\/linkedin.com\/in\/drkhogeer\" style=\"\" rel=\"noopener\">Linkedin<\/a>) as deputy chairman. He is board member at Tadawul-listed petrochemical firm Saudi Kayan and Tadawul-listed software company Arab Sea Information System among 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\/elm\/\">Elm<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tabuk-agricultural-development\/\">Tabuk Agricultural Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/umm-al-qura-cement\/\">Umm Al-Qura Cement<\/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=\"87589\" 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=\"87589\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/closer-ties-with-iran-esports-world-cup-lead-coverage\/\">\r\n                            Closer ties with Iran + Esports World Cup lead coverage                        <\/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\/07\/closer-ties-with-iran-esports-world-cup-lead-coverage\/\" 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\/07\/closer-ties-with-iran-esports-world-cup-lead-coverage\/')\">\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\/07\/closer-ties-with-iran-esports-world-cup-lead-coverage\/\">\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=Closer ties with Iran + Esports World Cup lead coverage&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/closer-ties-with-iran-esports-world-cup-lead-coverage\/\">\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\/07\/closer-ties-with-iran-esports-world-cup-lead-coverage\/&title=Closer ties with Iran + Esports World Cup lead coverage\">\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=Closer+ties+with+Iran+%2B+Esports+World+Cup+lead+coverage+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F07%2Fcloser-ties-with-iran-esports-world-cup-lead-coverage%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\/07\/closer-ties-with-iran-esports-world-cup-lead-coverage\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/474.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87590\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/closer-ties-with-iran-esports-world-cup-lead-coverage\/474-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/474.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"474.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/474.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/474.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87589\" class=\"content-area-description single-story post-87589 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-enterpriseam-ksa tag-esports-world-cup tag-iran tag-saudi-in-the-news wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.67491a91-dcde-48e8-b08e-3840c4b9393b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No single story dominated coverage of Saudi in the international press over the <\/strong><strong>weekend<\/strong>, but <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-crown-prince-keen-develop-iran-ties-following-pezeshkians-election-state-2024-07-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.barrons.com\/news\/saudi-congratulates-iran-s-new-reformist-president-f03dfcdd?refsec=topics_afp-news\" style=\"\" rel=\"noopener\">AFP<\/a> are both picking up congratulations passed by King Salman and Crown Prince and Prime Minister Mohammed bin Salman to Iran\u2019s new president-elect, Masoud Pezeshkian. (See more in this morning\u2019s Diplomacy section, below.)<\/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, the kickoff of the first Esports World Cup last week in the capital <\/strong><span style=\"background-color: transparent;\">is getting ink from <\/span><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-03\/esports-world-cup-riyadh-offers-bigger-prize-than-pga\" rel=\"noopener\">Bloomberg<\/a><span style=\"background-color: transparent;\">. The event, which runs until August, has been turning heads with record-setting USD 60 mn purse \u2014 that\u2019s triple what was up for grabs at May\u2019s PGA Championship and is on the same level as Wimbledon.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The goal: <\/strong>\u201cWe want Saudi to be a natural part of the conversation where you cannot talk about the gaming industry and especially esports without mentioning Saudi on the top of your mind,\u201d Saudi Esports Federation Chairman Prince Faisal bin Bandar bin Sultan Al Saud told Bloomberg.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember-<\/strong> This is part of the Kingdom\u2019s efforts to diversify its economy, with the industry expected to contribute SAR 50 bn to the economy, <a target=\"_blank\" href=\"https:\/\/www.esportsworldcup.com\/ar\/news\/hrh-crown-prince-announces-esports-world-cup\" style=\"\" rel=\"noopener\">according to Crown Prince and Prime Minister Mohammed bin Salman<\/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\/esports-world-cup\/\">Esports World Cup<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87591\" 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=\"87591\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/one-step-closer-to-sabic-agri-nutrients-sixth-plant\/\">\r\n                            One step closer to Sabic Agri-Nutrients\u2019 sixth plant                        <\/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\/07\/one-step-closer-to-sabic-agri-nutrients-sixth-plant\/\" 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\/07\/one-step-closer-to-sabic-agri-nutrients-sixth-plant\/')\">\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\/07\/one-step-closer-to-sabic-agri-nutrients-sixth-plant\/\">\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=One step closer to Sabic Agri-Nutrients\u2019 sixth plant&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/one-step-closer-to-sabic-agri-nutrients-sixth-plant\/\">\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\/07\/one-step-closer-to-sabic-agri-nutrients-sixth-plant\/&title=One step closer to Sabic Agri-Nutrients\u2019 sixth plant\">\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=One+step+closer+to+Sabic+Agri-Nutrients%E2%80%99+sixth+plant+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F07%2Fone-step-closer-to-sabic-agri-nutrients-sixth-plant%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\/07\/one-step-closer-to-sabic-agri-nutrients-sixth-plant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/454.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87592\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/one-step-closer-to-sabic-agri-nutrients-sixth-plant\/454-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/454.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"454.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/454.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/454.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87591\" class=\"content-area-description single-story post-87591 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-alkhorayef-water-and-power-technologies tag-also-on-our-radar tag-flynas tag-tax 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\/.78f0dd26-cbdd-4056-af47-b035904dcf0c.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">RENEWABLES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sabic Agri-Nutrients gets locks in feedstock supply for sixth plant: <\/strong>Fertilizer maker Sabic Agri-Nutrients has received approval from the Energy Ministry on the allocation of the feedstock it needs for its new plant in Jubail Industrial City, its sixth overall, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEKwQK5IIcs4RISRw5Din9-uaBhGihopYP3vHM7OwSl6yJG7Nj4DMViJiFRb1xjW2HGtDumzCF_uINDHAsY7kwtV7bIKtrgjm2DLAn1J62ux2wPoC4_9KDM-uA_T4b6yOYgwXGY3q4c-gD_d1rypQ-d4sEw1drMKK6aXR_Em6M-KPJ7xkqwh8hh8T1Q-HVC6exp5s-cSXuUaJsZbKAD0ol6UsDGpDnecsXwg-xxUXUgFuSg0gVWV8ziYNxta7u3X0MNLKSmIpMciRzHxWNY5HFHCOM1ShIVY8pRmzO-AFHeMRwxnwkTjkf2x2DVMi0ZJFNiaTIlZC9ZLA716fIE2H9TqTYZVwtTgnWgBKF9fmdFKZO8FVUGtRGTPLDhVv-T7LIQ9nzyEYvob0U0cWAlal5mbkWadumVjXBT-VUZjVvVyhmKANRJkyi5XINwaDpeiddj2hk6tc3p0_fk2e1vA!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMDIwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMTc5\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The plant will produce 1.2 mn tons of blue ammonia per year, in addition to 1.1 mn tons of urea and specialized fertilizers. No financial details were provided.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Sabic Agri-Nutrients revealed plans <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/e47462ec-5932-4bde-b314-b3f9075ec8ba\/non-oil-business-activity-remained-strong-in-march\" style=\"\" rel=\"noopener\">earlier this year<\/a> to launch several decarbonization projects in the decade starting 2026 in a bid to reach net zero by 2050.<\/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>Tadawul-listed Dallah Healthcare, Dallah Real Estate, Tatweer, and asset management <\/strong><strong>firm AlJazira Capital will launch a real estate investment fund<\/strong> worth over SAR 1.2 bn with a focus on Riyadh, Dallah Healthcare said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMTAwEQ_ODVPvyA3NMIgMyA3XNdREQB_1DCx\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MTE1OC9jb21wYW55U3ltYm9sLzQwMDQvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The fund will seek the acquisition and development of plots in Riyadh. Sources <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7219fd28-6187-45e0-a2c7-c4bf129ed229\" style=\"\" rel=\"noopener\">unveiled plans for the fund<\/a> to Aleqtisadiah in late June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>Both Dallah Healthcare and Dallah Real Estate will be contributing their owned plots as an investor in kind, while Aljazira Capital will act as fund manager. Tatweer will be investing funds and overseeing construction of a mixed-use project with commercial, office, hotel, and healthcare facilities.<\/p>\n<p class=\"tag-border-left\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jazan City f<\/strong><strong>or Basic and Transformative Industries awards infrastructure tenders:<\/strong> Jazan City for Basic and Transformative Industries has awarded tenders worth SAR 315 mn to three companies for infrastructure projects in Jazan Special Economic Zone, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2132678\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported. The contracts were inked with China Harbor Middle East Division, Al Dafe Trading and Contracting, and Walid Muyghashi. The timeline for the projects and breakdown of individual responsibilities was not specified.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s in the cards?<\/strong> The tenders cover the design and construction of three bridges to link the deposit and re-export areas in the Jazan Special Economic Zone (SEZ) to the port city, according to SPA. The projects also include the development of a service support warehouse and temporary storage facilities. <\/p>\n<p class=\"tag-border-left\">UTILITIES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alkhorayef awarded SAR 191 mn in contracts to install water, sewer connections in six <\/strong><strong>regions: <\/strong><a target=\"_blank\" href=\"https:\/\/awpt.com.sa\/\" style=\"\" rel=\"noopener\">Alkhorayef Water and Power Technologies<\/a> was awarded 36-month blanket purchase contracts worth SAR 190.8 mn by the <a target=\"_blank\" href=\"https:\/\/www.nwc.com.sa\/EN\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">National Water Company<\/a> to install water and sewer service connections in six regions in the Kingdom, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMDgxL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMTk2\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The regions are Al-Qassim, Hail, Jazan, and the Eastern Region\u2019s northern, central, and southern districts.<\/p>\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul-listed <\/strong><strong>Saudi Paper Manufacturing Company (SPM)<\/strong><strong> has signed a one-year, <\/strong><strong>Shariah-compliant SAR 150 mn credit facility agreement with Emirates NBD Bank<\/strong> to fund its working capital needs and the purchase of raw materials ahead of starting commercial operations of its fifth production line, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEKwQK5IIcs4RISRw5Din9-uaBhGihopYP3vHM7OwSl6yJG7Nj4DMViJiFRb1xjW2HGtDumzCF_uINDHAsY7kwtV7bIKtrgjm2DLAn1J62ux2wPoC4_9KDM-uA_T4b6yOYgwXGY3q4c-gD_d1rypQ-d4sEw1drMKK6aXR_Em6M-KPJ7xkqwh8hh8T1Q-HVC6exp5s-cSXuUaJsZbKAD0ol6UsDGpDnecsXwg-xxUXUgFuSg0gVWV8ziYNxta7u3X0MNLKSmIpMciRzHxWNY5HFHCOM1ShIVY8pRmzO-AFHeMRwxnwkTjkf2x2DVMi0ZJFNiaTIlZC9ZLA716fIE2H9TqTYZVwtTgnWgBKF9fmdFKZO8FVUGtRGTPLDhVv-T7LIQ9nzyEYvob0U0cWAlal5mbkWadumVjXBT-VUZjVvVyhmKANRJkyi5XINwaDpeiddj2hk6tc3p0_fk2e1vA!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMzAwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMTgw\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>SPM signed two MoUs with Italian paper firm Toscotec to procure its fifth and sixth production lines, each with an annual capacity of 60k tons. A SAR 166 mn agreement was signed in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBdb4IwFP0t_oClFwwfPuLIkAUVBKfwYgp0SCKUlEKmv34FTJxuuq3pQ-_tOeeee1CEtigqcZtnmOe0xAdRh5G6UwwV5JkOS5gFz6CCb6nrQJdMWUWba4A-t1TwFoa3lDUFrDdA0b_44LsKeC_ufOzACixQ_8aHO8f4dX4o-NpdgC0hH0Uoio_-sYjpAYXyGGDoGGVJmzIhBSk5CiXhJLoetjQmmtjldWrZjjHWVe0W8ENYN3a_p9EDHqzrk7LP5OFOG0Zq2rCEoFVG-NdFnLzmJuYYeQlO9sQhLTm4OCNDDDht85qyukOJ5ESnJgmnzKzs9FzfxFQxmjYJD44VGQCcCvnzuxLCfn4SlQSDGGbJ_oLt_hdNERNmxihUutY7o8VFAHfOk873QJJ2T1I_hHxwvxcbcKlguITltHNZFev19hSQeGLnbjufLpT2-maj0SdwP1h3\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzIzMDAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzcwMzM4\/\" style=\"\" rel=\"noopener\">2022<\/a> for the company\u2019s fifth production line, and a SAR 300 mn one was signed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/aed81d5f-0dc7-4281-84ae-018df802130c\" style=\"\" rel=\"noopener\">earlier this year<\/a> for its sixth line. The new lines will help bring the paper manufacturer\u2019s total capacity to 250k tons annually.<\/p>\n<p class=\"tag-border-left\">REAL ESTATE<span style=\"background-color: transparent;\">-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sumou Real Estate to develop 1.1k residential units in Yanbu<\/strong>: Tadawul-listed <a target=\"_blank\" href=\"https:\/\/sumou.com.sa\/\" style=\"\" rel=\"noopener\">Sumou Real<\/a><a target=\"_blank\" href=\"https:\/\/sumou.com.sa\/\" style=\"\" rel=\"noopener\">Estate<\/a> will build around 1.1k residential units in Yanbu Industrial City and develop the city\u2019s infrastructure under a SAR 1.3 bn agreement it signed with Jubail and Yanbu Industrial Cities Services Company (Jabeen), according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNc4IwEP0tPXjULFKR9pbWKer4hWhVLk6IKzIDhAlBan99QZxxtNqxmRyyL--9fbvEJUvixmwf-EwFImZhUa9cY92iBjS7JoyhO3sHAxzLmM9MrdM0yOKSYA4tA-wRtcfNdgusTyDuv_TgTFpgf0yG-gCmYIHxmB7uHPpAf_eSMqYv7SJB_83qDahuGu1rwo0Rr5r8nuFI-CNkn7h-KLxq4TT2dNMnrsQtSpSNTBbwTqkkfa1BDfI8b_hC-CE2uIhqcEuyE6kiy0smcTA-rqt9dx89jSwkpiKTHMnUR0XjWGQxxwhjNQhS1WGKEZszvsMB7jGcMB-JU87HNvsgFTItWWRVIilyJWQn6W1O9SHyRFi9Eyk2GVezQ4IVoERhfXonhakTfBeVBpURk3x35pb_oyzyUHY8snouoa0U0dmAlal5mbkSaeu6dmyCX8o5mlW8TaGYoAxEmTCJ5vMlBL266x10PaKRqV_enD79AHgu0oI!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MzIzL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMTY3\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. Construction will take 36 months to complete. Jabeen is the investment arm of the Royal Commission for Jubail and Yanbu.<\/p>\n<p class=\"tag-border-left\">FINANCIAL SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amwal, Tradeweb obtain CMA licenses: <\/strong>Riyadh-based <a target=\"_blank\" href=\"https:\/\/amwalcp-ksa.com\/\" style=\"\" rel=\"noopener\">Amwal Capital AlMaliyah<\/a> has been cleared by the Capital Market Authority (CMA) to manage investments in the securities business, according to a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3591.aspx\" style=\"\" rel=\"noopener\">CMA statement<\/a>. The market regulator also granted New York-based fintech firm <a target=\"_blank\" href=\"http:\/\/tradeweb.com\/\" style=\"\" rel=\"noopener\">Tradeweb<\/a> a license to carry out securities exchange as an alternative trading system for sukuk and debt instruments, according to a separate <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3592.aspx\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p class=\"tag-border-left\">TOURISM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Flynas runs its first flight to Egypt\u2019s New Alamein:<\/strong> Low-cost Saudi airline Flynas launched its first direct flight to El Alamein International Airport on Thursday, it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/flynas\/status\/1808817412197826884\" style=\"\" rel=\"noopener\">post on X<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alkhorayef-water-and-power-technologies\/\">Alkhorayef Water and Power Technologies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/flynas\/\">flynas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tax\/\">tax<\/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=\"87593\" 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=\"87593\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/\">\r\n                            The S&amp;P 500 is on a tear, and a rate cut could fuel its run. Are US megacaps overvalued?                        <\/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\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/\" 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\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/')\">\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\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/\">\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=The S&#038;P 500 is on a tear, and a rate cut could fuel its run. Are US megacaps overvalued?&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/\">\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\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/&title=The S&#038;P 500 is on a tear, and a rate cut could fuel its run. Are US megacaps overvalued?\">\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=The+S%26%23038%3BP+500+is+on+a+tear%2C+and+a+rate+cut+could+fuel+its+run.+Are+US+megacaps+overvalued%3F+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F07%2Fthe-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued%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\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/456.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87594\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/456-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/456.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"456.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/456.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/456.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87593\" class=\"content-area-description single-story post-87593 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets tag-planet-finance tag-sp-500 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\/.fa30c41b-147b-4bb5-bdf3-7acde69d694b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The S&amp;P 500 remains on a tear<\/strong>, unbothered by drama surrounding the US elections: It has posted gains in nine of the last 11 weeks, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-05\/high-priced-s-p-500-powers-ahead-untroubled-by-political-stress?srnd=homepage-middle-east&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> notes, including 2% last week as a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/us-employment-wage-growth-expected-moderate-june-2024-07-05\/\" style=\"\" rel=\"noopener\">steady<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/us-employment-wage-growth-expected-moderate-june-2024-07-05\/\" style=\"\" rel=\"noopener\">slowdown<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/us-employment-wage-growth-expected-moderate-june-2024-07-05\/\" style=\"\" rel=\"noopener\">in the labor market<\/a> boosted expectations the US Federal Reserve could start to cut interest rates as early as September. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">By the numbers: <\/strong><span style=\"background-color: transparent;\">The S&amp;P 500 was up 0.54% on Friday to close at 5,567, while the Nasdaq Composite edged up 0.90% to 18,352.76. Both indexes ended the week at record highs after labor data released on Friday showed US unemployment up slightly at 4.1% \u2014 its highest November 2021.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cooler US jobs data could prompt the Fed to start trimming interest rates in the fall<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/futures-edge-higher-ahead-key-payrolls-data-2024-07-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported. \u201cThis report puts the Fed in a comfortable spot,\u201d said Peter Cardillo, a chief market economist at institutional brokerage firm Spartan Capital Securities. \u201cIf this continues next month, with no increases in hourly wages, then I think we'll see a rate cut in September and another one in December.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>A rate cut will almost-inevitably see investors allocate more capital to equities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But it may be time to to moderate your expectations for US equities in the coming <\/strong><strong>decade. <\/strong>While valuations are admittedly bad tools to use when trying to time the market, Bloomberg still notes that that the S&amp;P 500 is trading at 26x earnings \u2014 higher than on any single election day as far back as 1990. That suggests \u201cthe elevated state of equities may be reason to lower expectations for their performance under whoever wins the election in November,\u201d it writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A decade of \u201cMeh\u201d in the making? <\/strong>\u201cToday\u2019s lofty valuations for US megacaps suggests significant underperformance over the coming decade, and because they make up such a dominant share, returns for the overall US market are also likely to be pretty muted,\u201d Richard Bernstein Advisors\u2019 deputy chief investment officer, Dan Suzuki, told the business information service.<\/p>\n<p><a target=\"_blank\" id=\"t.c0152e318c3a738790fc20157b2ea6fdc8cfb219\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,659<\/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\">+0.6% (YTD: -2.6%)<\/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>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\">1,456<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: -6.2%)<\/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>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\">25,910<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +5.6%)<\/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\">28,365<\/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: +13.9%)<\/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>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\">9,139<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: -4.6%)<\/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>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\">4,070<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +0.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,567<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +16.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,204<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +6.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,979<\/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: +10.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 86.54<\/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\">-1.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.32  <\/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\">-4.1%<\/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>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 2,398<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.coindesk.com\/price\/bitcoin\" style=\"\" rel=\"noopener\">BTC<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 58,056<\/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\">+2.5% (YTD: +38.1%)<\/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 rose 0.6% at Thursday\u2019s close <\/strong>on turnover of SAR 4.9 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> Al Rajhi Takaful (+8.9%), Al Jouf (+6.2%) and Saico (+5.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>AlBaha (-7.7%), Miahona (-4.2%) and Smasco (-2.6%).<\/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 0.6% at Thursday\u2019s close <\/strong>on turnover of SAR 44.9 mn. The index is up 5.6% 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> Apico (+11.2%), Group Five (+9.7%) and Armah (+7.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Fadeco (-5.3%), Horizon Educational (-4.8%) and Pan Gulf (-4.7%)<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul-listed telecom company Zain KSA will distribute a dividend of SAR 449.4 mn <\/strong>at SAR 0.50 per share for FY 2023 starting Thursday, 18 July, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNc4IwEP0tPXjULFKR9pbWKer4hWhVLk6IKzIDhAlBan99QZxxtNqxmRyyL--9fbvEJUvixmwf-EwFImZhUa9cY92iBjS7JoyhO3sHAxzLmM9MrdM0yOKSYA4tA-wRtcfNdgusTyDuv_TgTFpgf0yG-gCmYIHxmB7uHPpAf_eSMqYv7SJB_83qDahuGu1rwo0Rr5r8nuFI-CNkn7h-KLxq4TT2dNMnrsQtSpSNTBbwTqkkfa1BDfI8b_hC-CE2uIhqcEuyE6kiy0smcTA-rqt9dx89jSwkpiKTHMnUR0XjWGQxxwhjNQhS1WGKEZszvsMB7jGcMB-JU87HNvsgFTItWWRVIilyJWQn6W1O9SHyRFi9Eyk2GVezQ4IVoERhfXonhakTfBeVBpURk3x35pb_oyzyUHY8snouoa0U0dmAlal5mbkSaeu6dmyCX8o5mlW8TaGYoAxEmTCJ5vMlBL266x10PaKRqV_enD79AHgu0oI!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC83MDMwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMTcw\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/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\/sp-500\/\">S&amp;P 500<\/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=\"87595\" 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\/07\/87595\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87595\" class=\"content-area-description single-story post-87595 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>7<\/span><span>-11 July<\/span><span> (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.monshaat.gov.sa\/ar\/node\/130021\" style=\"\">Monsha'at\u2019s wholesale and retail week<\/a><\/span><span>,  Riyadh, Jeddah, Madinah and Khobar SME support centers.<\/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>July 24 (Wednesday): Stc shareholders to vote on <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/afbab00f-47c1-4acf-bfec-1f0741fcd95b\" style=\"\">PIF acquisition of Tawal<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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>4 August <\/span><span>(Sunday): Last day to apply to the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/awards.dga.gov.sa\/\" style=\"\">Digital Government Authority (DGA) awards<\/a><\/span><span>.<\/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>Non-oil economic growth slows | Bateel stake in play? | 14 football clubs up for sale | Aramco, Altice M&#038;A news | PIF makes USD 500 mn commitment to Hong Kong<\/p>\n","protected":false},"featured_media":87573,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-87572","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"cc84d26d-3096-4741-bd8a-cf3b2a4b19af","teaser":"Non-oil economic growth slows | Bateel stake in play? | 14 football clubs up for sale | Aramco, Altice M&A news | PIF makes USD 500 mn commitment to Hong Kong","photo_url":"https:\/\/ent.news\/2024\/7\/476.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>The view from DC on our business ties with the US - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The view from DC on our business ties with the US\" \/>\n<meta property=\"og:description\" content=\"Non-oil economic growth slows | Bateel stake in play? | 14 football clubs up for sale | Aramco, Altice M&amp;A news | PIF makes USD 500 mn commitment to Hong Kong\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-14T18:28:43+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/476.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/\",\"name\":\"The view from DC on our business ties with the US - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/476.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-07-07T00:00:00+00:00\",\"dateModified\":\"2025-12-14T18:28:43+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/476.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/476.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"The view from DC on our business ties with the US\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The view from DC on our business ties with the US - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/","og_locale":"en_US","og_type":"article","og_title":"The view from DC on our business ties with the US","og_description":"Non-oil economic growth slows | Bateel stake in play? | 14 football clubs up for sale | Aramco, Altice M&A news | PIF makes USD 500 mn commitment to Hong Kong","og_url":"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/","og_site_name":"KSA","article_modified_time":"2025-12-14T18:28:43+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/476.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/","url":"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/","name":"The view from DC on our business ties with the US - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/476.jpg?fit=%2C&ssl=1","datePublished":"2024-07-07T00:00:00+00:00","dateModified":"2025-12-14T18:28:43+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/476.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/476.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/issues\/the-view-from-dc-on-our-business-ties-with-the-us\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/ksa\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"The view from DC on our business ties with the US"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/87572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/87572\/revisions"}],"predecessor-version":[{"id":87618,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/87572\/revisions\/87618"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/87573"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=87572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=87572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=87572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}