{"id":87705,"date":"2024-07-10T00:00:00","date_gmt":"2024-07-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=87705"},"modified":"2025-12-14T18:30:45","modified_gmt":"2025-12-14T18:30:45","slug":"aramco-taps-international-debt-market","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/aramco-taps-international-debt-market\/","title":{"rendered":"Aramco taps international debt market"},"content":{"rendered":"<section id=\"87707\" 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=\"87707\">\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\/10\/aramco-returns-to-international-debt-markets-after-three-years\/\">\r\n                            THIS MORNING: Fresh Aramco bond issuance + The internal combustion engine is here to stay                        <\/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\/10\/aramco-returns-to-international-debt-markets-after-three-years\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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It\u2019s a mixed bag as far as the news cycle goes, with the big story of the day being Aramco\u2019s return to international debt markets for the first time in three years. <\/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>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/gemtechforum.com\/conference\/agenda\" style=\"\" rel=\"noopener\">Global EV and Mobility Technology Forum<\/a><\/strong><strong> gets underway <\/strong><strong>this morning<\/strong> at Riyadh\u2019s International Convention and Exhibition Center. The two-day event will bring together top government officials, bankers, and automaker executives, led by Faisal Sultan, managing director and vice president of PIF-backed EV maker Lucid. Discussions will focus on the key areas of building out a local automotive supply chain, boosting EV adoption in the Kingdom, the challenges facing E-mobility here at home, and the role of public-private sector partnerships in solving them. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Riyadh will see a daytime high of 45\u00b0C today and a nighttime low of <\/strong><strong>32\u00b0C.<\/strong> In Makkah, the mercury will peak at 44\u00b0C during the day and drops to 32\u00b0C. Meanwhile, Madinah is looking at a high 44\u00b0C and a low of 31\u00b0C. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- <\/strong><strong>Businesses in the health and commercial <\/strong><strong>sectors in Riyadh will now be governed by a<\/strong><strong> new inspection and oversight program<\/strong> introduced by the Riyadh Municipality, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1739280\" style=\"\" rel=\"noopener\">Argaam<\/a> reports. The Muthol municipal compliance program is designed to improve compliance and oversight on businesses while easing their financial burdens by shifting away from relying primarily on fines for regulatory non-compliance. The program instead focuses on providing incentives for compliance, according to <a target=\"_blank\" href=\"https:\/\/english.aawsat.com\/business\/5038440-riyadh-municipality-adopts-new-approach-boost-business-compliance\" style=\"\" rel=\"noopener\">Asharq Al Awsat<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- Industrial and mining companies in the Kingdom will have easier access to research<\/strong><strong> centers and labs<\/strong> through a new program from the Industry and Mineral Resources Ministry and the Research, Development, and Innovation Authority, the two bodies said on X (<a target=\"_blank\" href=\"https:\/\/x.com\/mimgov\/status\/1810572982110048580\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/x.com\/RDIA\/status\/1810569675790602622\" style=\"\" rel=\"noopener\">here<\/a>). The program includes 30 scientific research centers in universities, medical institutions, and laboratories. It targets investors and entrepreneurs in the industrial and mining sectors. Companies can register <a target=\"_blank\" href=\"https:\/\/survey.rdia.gov.sa\/survey?sId=iK3grXVCrRI%3d\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>The Saudi Islamic banking market\u2019s operating environment is expected to be<\/strong><strong> \u201cfavorable\u201d over 2H 2024 and 2025<\/strong>, but could be held back by persisting issues including \u201clow standardization, still-developing Islamic-finance regulations, and fragmented disclosures,\u201d <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/islamic-finance\/sama-regulations-enhancing-saudi-islamic-banks-transparency-sharia-governance-09-07-2024\" style=\"\" rel=\"noopener\">Fitch Ratings<\/a> said in a non-action commentary. Sama has been taking strides to alleviate some of these, issuing additional capital adequacy requirements and releasing a risk-management framework for sharia-compliant banking, the ratings agency said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a>  <strong>Saudi is now<\/strong><strong> ranked 36 globally in the Arab Investment and Export Credit Guarantee<\/strong><strong> Corporation (<\/strong><strong>Dhaman)\u2019s investment climate index<\/strong>, slipping two spots from last year\u2019s index, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4311445\/%D8%AA%D8%B1%D8%A7%D8%AC%D8%B9-%D9%85%D8%AA%D9%88%D8%B3%D8%B7-%D8%AA%D8%B1%D8%AA%D9%8A%D8%A8-%D8%A7%D9%84%D8%AF%D9%88%D9%84-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%A8%D9%85%D8%A4%D8%B4%D8%B1-%D8%B6%D9%85%D8%A7%D9%86-%D9%84%D9%85%D9%86%D8%A7%D8%AE-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D9%88%D8%A7%D9%84%D8%B5%D8%AF%D8%A7%D8%B1%D8%A9-%D8%AE%D9%84%D9%8A%D8%AC%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Mubasher<\/a> reports, citing Dhaman\u2019s report. The Kingdom is the third-highest ranking Arab country in the index. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In terms of the regulatory environment, the Kingdom jumped 13 spots to rank 71 in the<\/strong><strong> index.<\/strong> Meanwhile, it fell one rank to 55 in terms of production, and climbed two ranks in the political climate and safety category.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The wider view:<\/strong> Inter-Arab investment grew 37% in value to USD 66.3 bn in 2023 across a total of 305 projects (up 20% y-o-y), <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4311465\/1-7-%D8%AA%D8%B1%D9%8A%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%AA%D9%83%D9%84%D9%81%D8%A9-%D8%A7%D9%84%D9%85%D8%B4%D8%A7%D8%B1%D9%8A%D8%B9-%D8%A7%D9%84%D8%A3%D8%AC%D9%86%D8%A8%D9%8A%D8%A9-%D8%A7%D9%84%D9%88%D8%A7%D8%B1%D8%AF%D8%A9-%D9%84%D9%84%D8%AF%D9%88%D9%84-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%A8%D9%8021-%D8%B9%D8%A7%D9%85%D8%A7-\/\" style=\"\" rel=\"noopener\">Mubasher<\/a> said, citing the report. Saudi Arabia was the top investment destination in the region with 110 projects, representing over 36% of the total while Mauritania came in first place in terms of investment costs, with a value of USD 34 bn and a share of 53%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Kingdom is set to regain its global oil market share as it ramps up China-bound<\/strong> <strong>crude <\/strong><strong>deliveries next month<\/strong> following a steep drop in June, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/saudi-crude-oil-supply-china-rebound-august-regain-market-share-2024-07-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported, citing trade sources. Traders expect Saudi\u2019s crude oil supply to China to rise to at least 44 mn barrels in August, up from 36 mn barrels in July. The move would end a four-month scale back on oil exports to China, with news of the additional shipments coming days after Aramco slashed prices for crude grades it sells to Asia for a second month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The Kingdom\u2019s overseas crude shipments <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9cbc7de8-f781-4080-8cd7-41be9a7b0437\" style=\"\" rel=\"noopener\">hit a 10-month low<\/a> in June at 168 mn barrels \u2014 about 5.6 mn barrels a day \u2014 as summertime demand for energy peaks. Shipments of Saudi crude to China hit its lowest since March 2020 with 1.12 mn barrels a day, according to data from analytics firm Kpler.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><strong>Saudi was<\/strong><strong> the US\u2019 third-largest oil exporter in May 2024, shipping 11.7 mn barrels worth<\/strong> <strong>USD 1 bn<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4311606\/%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AB%D8%A7%D9%84%D8%AB-%D8%A3%D9%83%D8%A8%D8%B1-%D9%85%D8%B5%D8%AF-%D8%B1-%D9%84%D9%84%D9%86%D9%81%D8%B7-%D8%A5%D9%84%D9%89-%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D8%A7-%D8%A8%D9%80-11-7-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%A8%D8%B1%D9%85%D9%8A%D9%84-%D9%81%D9%8A-%D9%85%D8%A7%D9%8A%D9%88\/\" style=\"\" rel=\"noopener\">Mubasher<\/a> reported, citing US government data. The exports are up 6.9% y-o-y from 10.9 mn barrels in the corresponding month last year. The top crude oil exporting nations to the US during May were led by Canada followed by Mexico.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MORNING MUST READ-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Is the internal combustion engine (ICE) here to stay? That\u2019s what Aramco and other car <\/strong><strong>market leaders think.<\/strong> The oil giant, China\u2019s Geely, and France\u2019s Renault \u2014 all of whom are shareholders in powertrain producer Horse Powertrain \u2014 believe that ICE engines will remain vital well beyond 2050 due to cost and other factors, predicting automakers will eventually pass the manufacturing torch to third-party suppliers, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a3019ce4-be91-4dc8-83c5-489f18bf56cf\" style=\"\" rel=\"noopener\">the Financial Times<\/a> reports. \u201cIt will be incredibly expensive for the world to completely stamp out, or do without internal combustion engines,\u201d Aramco Executive VP Yasser Mufti told the salmon-colored paper. Horse CEO Matias Giannini expects that by 2040, up to 60% of vehicles will still use some form of ICE, whether pure, hybrid, or plug-in hybrid.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Oil giant Aramco signed agreements <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/am\/2024-06-30\/3\" style=\"\" rel=\"noopener\">to acquire a 10% stake in Horse<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/am\/2024-06-30\/3\" style=\"\" rel=\"noopener\">Powertrain<\/a>, a joint venture between Renault and Geely, valuing Horse at EUR 7.4 bn. Renault and Geely each hold a 45% stake. Initially, Aramco sought a 20% stake under a preliminary agreement with Renault and Geely last year. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday before 7am Riyadh time \u2014 without charge, thanks to our friends at Cenomi.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Nato summit kicked off in Washington yesterday<\/strong> against the backdrop of Joe Biden\u2019s teetering reelection campaign and developments in the Russia-Ukraine war \u2014 landing on most front pages with news of another support package for Ukraine, this time in the form of an air defense system. (<a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/national-security\/2024\/07\/09\/nato-biden-ukraine-membership\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/us-allies-announce-additional-air-defense-systems-ukraine-2024-07-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/16440664-b9b4-488e-a62a-3fda2717ae67\" style=\"\" rel=\"noopener\">FT<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Biden\u2019s speech at the summit stood in stark contrast with his performance at the presidential debate<\/strong>, with <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/biden-nato-summit-chance-show-voters-allies-he-can-still-lead-2024-07-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> noting his \u201cstrong and confident voice\u201d as he read off a teleprompter and looked to avoid signs of weakness. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still, his future candidacy remains in limbo<\/strong>, with another key democrat \u2014 Mikie Sherrill \u2014 joining the growing call among Democratic lawmakers for him to drop out, while some others have pledged support, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e06f5881-0734-4a8e-81af-8afa3cc0e31a\" style=\"\" rel=\"noopener\">Financial Times<\/a> said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO HAPPENING YESTERDAY- US Federal Reserve Chair Jerome Powell kicked off his testimony before the Senate Banking Committee with a tee-up for an interest rate cut <\/strong>that could take place as soon as September, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/feds-powell-before-congress-could-show-developing-case-rate-cut-2024-07-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cLeaving monetary policy too tight for too long could unduly weaken economic activity and employment,\u201d<\/strong> Powell said, adding that the US economy is no longer overheated, as inflation and the labor market both continue to cool. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OVER IN EUROPE- It\u2019s a bad week for France on all fronts<\/strong>, as it faces a political stalemate and is kicked out of the Euros by a defiant Spain \u2014 led by 16-year-old wunderkind Lamine Yamal \u2014 in yesterday\u2019s semi-final.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- Europe just launched its first rocket in almost 30 years<\/strong>, virtually \u201cpower[ing] Europe back into space,\u201d European Space Agency Josef Aschbacher head said, after years of dominance from Elon Musk\u2019s SpaceX. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2abdea1a-d985-4f25-90ee-af74524b736f\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/07\/09\/first-ariane-6-launch-of-european-rocket.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The eight-week <\/strong><strong><a target=\"_blank\" href=\"https:\/\/esportsworldcup.com\/en\" style=\"\" rel=\"noopener\">Esports World Cup<\/a><\/strong><strong> runs until Sunday, 25 August Riyadh\u2019s Boulevard <\/strong><strong>City<\/strong>. It will see the world\u2019s best esports clubs competing for a pool of USD 60 mn \u2014 the largest purse in esports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The 16 teams who passed the group stage of the ESports World Cup\u2019s<\/strong><strong> Riyadh Masters<\/strong><strong> will face off from today through to next Sunday, 14 July. <\/strong>Only four will make it to the playoffs upper bracket and two will make it to the lower bracket. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco is set to release its 1H 2024 results on Tuesday, 6 August<\/strong>, according to its <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\" style=\"\" rel=\"noopener\">website<\/a>. You can tune into the earnings audio webcast <a target=\"_blank\" href=\"https:\/\/webcast.openbriefing.com\/10977\/\" style=\"\" rel=\"noopener\">here<\/a>. Aramco posted a 14.4% y-o-y net income decrease in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e07c7da8-cdae-4c02-8d5a-33637252b1b9\/%253cmark%253earamco%253c%2Fmark%253e-reports-lower-net-income-in-1q-2024,-but-looks-on-track-to-boost-this-year%25e2%2580%2599s-dividend\" style=\"\" rel=\"noopener\">1Q 2024<\/a> to SAR102.3 bn (USD 27.3 bn), and its revenues dipped 3.7% y-o-y to SAR 402.0 bn (USD 107.2 bn). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This year\u2019s edition of security-focused expo <\/strong><strong><a target=\"_blank\" href=\"https:\/\/intersec-ksa.ae.messefrankfurt.com\/ksa\/en.html\" style=\"\" rel=\"noopener\">Intersec Saudi Arabia will<\/a><\/strong><strong> run from <\/strong><strong>Tuesday, 1 October to Thursday, 3 October <\/strong>at the Riyadh International Convention and Exhibition Center.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} 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to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87710\" 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=\"87710\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/10\/aramco-takes-first-bond-sale-in-three-years-to-market\/\">\r\n                            Aramco takes first bond sale in three years to market                        <\/a>\r\n                    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data-image-title=\"799.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/799.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/799.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87710\" class=\"content-area-description single-story post-87710 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-aramco tag-debt tag-debt-watch tag-enterpriseam-ksa 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\/.93458806-9416-48df-8604-9bb102ad4108.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi Aramco is selling fresh USD-denominated bonds, kicking off the issuance to<\/strong><strong> qualified investors <\/strong><strong>yesterday<\/strong>, according to two statements to Tadawul (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMjIyL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMjU5\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMjIyL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMjU1\/\" style=\"\" rel=\"noopener\">here<\/a>). The notes will be issued under Aramco\u2019s Global Medium Term Note Program, according to the disclosures. This is the company\u2019s first bond sale in three years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The oil giant could raise at least USD 3 bn from the three-tranche issuance<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-09\/aramco-seeks-at-least-3-billion-from-first-bond-sale-in-three-years\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources it says have knowledge of the matter. The senior unsecured notes include a 10-year tranche, a 30-year tranche, and a 40-year tranche, the business information service says. The exact value, pricing, and maturity will be determined based on market conditions, Aramco said in its disclosures. The minimum subscription is USD 200k, with additional investments in increments of USD 1k.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the money is going:<\/strong> Aramco will earmark the proceeds of the bonds for \u201cgeneral corporate purposes\u201d and could include additional purposes in the final terms of the issuance, according to the disclosures. The proceeds could be used \u201cto refinance existing borrowings and contribute to its investment program,\u201d Bloomberg\u2019s sources said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the pundits are saying:<\/strong> The timing of the issuance \u201csuggests Aramco is taking advantage of the last window ahead of the summer illiquidity,\u201d Amwal Capital Partners co-head of fixed income tells <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-aramco-returns-debt-market-with-dollar-bond-sale-2024-07-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Tapping the debt markets is also likely a sign that Aramco is looking at more acquisitions, EFG Hermes analyst Youssef Husseini told the newswire. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi\u2019s debt spree: <\/strong>Saudi Arabia has sold over <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6775f7ef-8df2-4b2a-946c-e6804e0bae96\/saudi-overtakes%253cmark%253e-china%253c%2Fmark%253e-as-the-top-borrower-in-global-emerging-markets\" style=\"\" rel=\"noopener\">USD 33 bn<\/a> worth of debt this year \u2014 topping China as the biggest issuer of international debt among emerging markets \u2014 to close its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/730d70af-1544-402a-a451-1b7b212ad097\/state%253cmark%253e-budget%253c%2Fmark%253e-closes-fy-2023-in-deficit\" style=\"\" rel=\"noopener\">SAR 81 bn budget deficit<\/a> from project spending. Recent debt sales include USD 5 bn worth of FCY-denominated sukuk with three-, six-, and 10-year tranches <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ad19ee86-4de4-4c73-b3bf-7ec13f7c8a2f\/gov%25e2%2580%2599t-kicks-off-sale-of-second-usd-denominated-sukuk-this-year\" style=\"\" rel=\"noopener\">in May<\/a>, and a USD 12 bn USD-denominated sovereign bond sale back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b4ed5269-180a-4a47-8c8e-71f65d28da02\/al-jadaan-on-reform,-taxation,-and-the-outlook-for-oil\" style=\"\" rel=\"noopener\">January<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big picture:<\/strong> Fitch expects the Gulf debt capital market to improve with increased issuances through 2024 and 2025 to approach USD 1 tn, with 40% in sukuk, according to its <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/islamic-finance\/gcc-debt-capital-market-dashboard-1q24-22-05-2024#:~:text=Fitch%20Ratings%20expects%20GCC%20debt,about%2040%25%20in%20sukuk%20format.\" style=\"\" rel=\"noopener\">1Q 2024 GCC Debt Capital Market Dashboard<\/a>. The drivers of the expanding debt capital market are expected lower oil prices and interest rates combined with an uptick in developmental initiatives. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Citi, Goldman Sachs International, HSBC, JP Morgan, Morgan Stanley, and SNB Capital are active joint bookrunners, while the passive joint bookrunners for the issuance are Abu Dhabi Commercial Bank, Anb capital, Bank of China, BofA Securities, BSF Capital, Emirates NBD Capital Limited, First Abu Dhabi Bank, GIB Capital, Mizuho, MUFG, NATIXIS, Riyad Capital, SMBC Nikko and Standard Chartered Bank. <\/p>\n<p class=\"tag-border-left\">IN OTHER DEBT NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi National Bank raises USD 500 mn in Taiwanese Formosa bond sale: <\/strong>Tadawul-listed lender Saudi National Bank (SNB) issued five-year senior unsecured floating-rate note bonds on Taiwan\u2019s Taipei Exchange, as part of its USD 5 bn EUR Medium Term Note Program, <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2545756\/business-economy\" style=\"\" rel=\"noopener\">Arab News<\/a> reports, citing a press release. The bank raised USD 500 mn from the sale. The move makes SNB the first Saudi bank to venture into Taiwan\u2019s Formosa market. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART-<\/strong> The yield on this bond isn\u2019t fixed. It is determined by the current overnight financing rate plus a fixed spread of 120 basis points. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Strong investor appetite: <\/strong>The sale was initially expected to raise some USD 300 mn, but strong investor demand raised the proceeds to a total of USD 500 mn. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87712\" 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=\"87712\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/10\/saudi-investors-commit-usd-100-mn-to-gulf-islamic-investments\/\">\r\n                            Saudi investors commit USD 100 mn to Gulf Islamic Investments                        <\/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\/10\/saudi-investors-commit-usd-100-mn-to-gulf-islamic-investments\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The funding was led by Saudi Arabia\u2019s Al Nahdi Family Office through its flagship pharma group <a target=\"_blank\" href=\"https:\/\/www.nahdi.sa\/\" style=\"\" rel=\"noopener\">Al Nahdi Medical<\/a>, who, along with other unnamed investors, will inject growth capital into the firm.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GII has a longstanding relationship with the Kingdom:<\/strong> GII expanded its Saudi presence with a SAR 1 bn (USD 300 mn) logistics firm established in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/475e9301-913a-42c5-b46c-600d2e96c8b4\/gulf-islamic-investments-%2B-logipoint-to-launch-a-usd-300-mn-logistics-jv\" style=\"\" rel=\"noopener\">May<\/a>, as well as acquisitions of an undisclosed licensed investment and asset management firm <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/81eb0233-c607-41ab-bfe4-68c31d4e8c33\/uae-based-gulf-islamic-investment-acquires-unknown-saudi-asset-management-firm\" style=\"\" rel=\"noopener\">earlier this year<\/a>, a SAR 600 mn (USD 160 mn) stake in Abdeel Medical Company, and a majority share of Al Meswak Dental Clinics for USD 600 mn in 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on Al Nahdi Medical:<\/strong> Saudi Arabia\u2019s largest retail pharmacy chain \u2014 with operations in the UAE \u2014 listed on Saudi Arabia\u2019s Tadawul in 2022 in one of the Kingdom\u2019s biggest IPOs so far, raising USD 1.36 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on GII: <\/strong>The firm specializes in real estate, private equity, and venture capital, managing assets worth USD 4.5 bn. Canada-based Brookfield Asset Management acquired a controlling interest in GII's logistics division in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0c9f4690-138d-455f-be67-ebdf47cf0297\/brookfield-snaps-up-controlling-stake-in%253cmark%253e-gii%253c%2Fmark%253e-warehouse-space\" style=\"\" rel=\"noopener\">April<\/a>. GII set plans at the beginning of the year to spend around USD 1 bn throughout 2024 in the US, India and the GCC, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-14\/dubai-s-gii-invests-160-million-in-saudi-arabian-hospital-chain\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported previously. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gulf-islamic-investments\/\">Gulf Islamic Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87714\" 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=\"87714\">\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\">INFRASTRUCTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/10\/saudi-leads-gcc-in-2q-2024-awarded-project-value\/\">\r\n                            Value of project awards by Saudi up 9.9% y-o-y in 2Q 2024 as progress in Neom picks pace                        <\/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\/10\/saudi-leads-gcc-in-2q-2024-awarded-project-value\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The value of project awards in Saudi grew 9.9% y-o-y to USD 30.6 mn in 2Q 2024 despite <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5ddc1dba-6aad-4fe6-a686-8e54ad4263e1\" style=\"\" rel=\"noopener\">lower oil production<\/a> and forecasts of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ade01bc1-2b8d-4dba-b4ed-405119b724c5\" style=\"\" rel=\"noopener\">slower economic growth<\/a> this year, according to the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The growth comes on the back of an acceleration of project awards at Neom<\/strong> as officials remain steadfast that progress on the buildout of the city was proceeding on schedule. It was also driven by Aramco\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e2e73b8b-ef93-4bcc-a2d9-8d6353e59149\" style=\"\" rel=\"noopener\">recent awarding<\/a> of over USD 25 bn in contracts for the development of the second phase of its Jafurah gas field and the expansion of the Kingdom\u2019s primary natural gas pipeline. The contracts come under Aramco\u2019s plan to see natural gas production in 2030 be 60% higher than it was in 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> Officials <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ec1a5a17-e4c2-4d18-bcd5-0c94dffd7445\" style=\"\" rel=\"noopener\">lately hammered<\/a> the idea of preventing the economy from overheating on the back of its economic diversification push. Some have taken to calling gigaprojects <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/90373716-a067-4b54-bad2-897195c8cd1f\" style=\"\" rel=\"noopener\">modular<\/a> and Neom has gone on a drive to underscore to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d415e8f0-fa26-473b-acf6-0a2208bd6637\/\" style=\"\" rel=\"noopener\">contractors<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e8706c8f-4009-4953-8129-18c0cd862016\/\" style=\"\" rel=\"noopener\">bankers<\/a> that everything is on track.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil projects still led the way:<\/strong> The value of oil projects awarded by Saudi during the quarter skyrocketed to USD 8.5 bn, up from USD 10 mn during the same quarter a year earlier. Saudi also awarded a separate USD 8.5 bn in energy projects during the period \u2014 up 25% y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But some sectors saw a decline: <\/strong>The value of construction projects awarded by the Kingdom was down 4.5% y-o-y in 2Q to USD 5 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Key highlights: <\/strong>Some of the quarter\u2019s leading project awards include a USD 2 bn project awarded by the Royal Commission for Riyadh City to build 50 km of highways in the capital, according to the report. It also took note of USD 1.5 bn order to Siemens Energy for two power plants \u2014 Taiba 2 and Qassim 2. The two power plants \u2014 set to be built in the western and central regions in the Kingdom \u2014 will be two of the world\u2019s largest and most-advanced combined-cycle power plants.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How the GCC did: <\/strong>The value of GCC project awards were down 19.7% y-o-y during 2Q 2024 to USD 51.7 bn on the back of an \u201cunprecedented decline\u201d in Qatar and a sharp decline in the UAE, according to the report. \u064eDoha\u2019s project awards fell 98.5% y-o-y during the period to USD 162 mn from USD 10.5 bn a year earlier, while Abu Dhabi was down 23.6% y-o-y to USD 16.3 bn.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gigaprojects\/\">Gigaprojects<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/kamco-invest\/\">Kamco Invest<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neom\/\">NEOM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87716\" 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=\"87716\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/10\/saudi-maintains-lead-in-menas-vc-funding-league-in-1h-2024\/\">\r\n                            Saudi continues to lead VC funding in MENA in 1H 2024 despite y-o-y drop                        <\/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\/10\/saudi-maintains-lead-in-menas-vc-funding-league-in-1h-2024\/\" 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\/10\/saudi-maintains-lead-in-menas-vc-funding-league-in-1h-2024\/')\">\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\/10\/saudi-maintains-lead-in-menas-vc-funding-league-in-1h-2024\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Saudi maintains lead in MENA\u2019s VC funding league in 1H 2024&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/10\/saudi-maintains-lead-in-menas-vc-funding-league-in-1h-2024\/\">\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\/10\/saudi-maintains-lead-in-menas-vc-funding-league-in-1h-2024\/&title=Saudi maintains lead in MENA\u2019s VC funding league in 1H 2024\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Saudi+maintains+lead+in+MENA%E2%80%99s+VC+funding+league+in+1H+2024+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F10%2Fsaudi-maintains-lead-in-menas-vc-funding-league-in-1h-2024%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\/10\/saudi-maintains-lead-in-menas-vc-funding-league-in-1h-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1634.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87717\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/10\/saudi-maintains-lead-in-menas-vc-funding-league-in-1h-2024\/1634-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1634.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1634.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1634.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1634.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87716\" class=\"content-area-description single-story post-87716 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-abyan-capital tag-enterpriseam-ksa tag-moyasar tag-salla tag-startup-watch tag-vc-funding tag-venture-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.b295cbd6-fa7a-47d4-a5a1-7a57a2de94c0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi continued to outrank its peers in MENA in terms of deployed VC<\/strong><strong> funding in 1H <\/strong><strong>2024<\/strong>, claiming the top spot with c. USD 412 mn despite a 7% y-o-y drop, according to venture data platform Magnitt\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/790.pdf\" style=\"\" rel=\"noopener\">Saudi Arabia Venture Capital report (pdf)<\/a>. It saw a 3% y-o-y decline in transaction volume during the first half at 63, yet maintained its ranking as the second most transacted country in the region behind the UAE, the Saudi Venture Capital-sponsored report showed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You can thank Salla for that: <\/strong>The pre-IPO round of e-commerce app <a target=\"_blank\" href=\"https:\/\/salla.com\/en\/\" style=\"\" rel=\"noopener\">Salla<\/a> accounted for more than a third of the funds raised during the first half of the year, with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2f41d1d7-5e73-4b5b-b98a-f8ace220543c\" style=\"\" rel=\"noopener\">USD 130 mn in investment tickets<\/a> during Leap 2024 in March. The round was the region\u2019s only megadeal during the period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E-commerce \/ retail topped Saudi\u2019s startup scene in 1H 2024 in terms of funding<\/strong>, amassing USD 215 mn to account for 52% of total funding during the period. However, the funds raised by the industry were down 40% y-o-y, the report showed. Fintech came in second with a triple-digit increase y-o-y at USD 62 mn on the back of fintech <a target=\"_blank\" href=\"https:\/\/moyasar.com\/\" style=\"\" rel=\"noopener\">Moyasar<\/a> raising USD 21 mn in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cf639735-30fd-4498-a51c-b82bd3ec074f\" style=\"\" rel=\"noopener\">seed funding<\/a> in March and a USD 18 mn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0bba0ca7-725b-499b-86ed-da5111d00e74\" style=\"\" rel=\"noopener\">series A funding round<\/a> by robo-advisory <a target=\"_blank\" href=\"https:\/\/abyancapital.sa\/about.html\" style=\"\" rel=\"noopener\">Abyan Capital<\/a> in May.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How the region fared:<\/strong> VC funding in the MENA region was down 34% y-o-y in 1H 2024 to USD 768 mn, making it the region\u2019s worst 1H since the covid-19 pandemic, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-09\/vc-funding-sags-across-mena-as-investors-go-for-smaller-deals?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported, citing a separate Magnitt report on emerging markets. \u201cThey have shifted away from late stage to early stage investments because of the high cost of capital,\u201d Magnitt CEO Philip Bahoshy said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Only Saudi was superior: <\/strong>Saudi \u2014 which accounted for more than half of total VC funding in MENA during 1H \u2014 came in second after Singapore in emerging market VC funding in the first half of the year, a <a target=\"_blank\" href=\"https:\/\/magnitt.com\/research\/h1-2024-emerging-venture-markets-venture-investment-summary-50942\" style=\"\" rel=\"noopener\">summary of a separate report by Magnitt<\/a> read. Singapore came in first with USD 1.3 bn in funding, followed by Saudi with USD 412 mn as it maintained \u201cits strong investment landscape despite broader regional declines.\u201d <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/abyan-capital\/\">Abyan Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moyasar\/\">Moyasar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/salla\/\">Salla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/vc-funding\/\">VC funding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/venture-capital\/\">venture capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87718\" 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=\"87718\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/10\/no-threats-here\/\">\r\n                            Saudi denies threatening G7 over proposed seizures of Russia\u2019s frozen assets                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/10\/no-threats-here\/\" 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\/10\/no-threats-here\/')\">\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\/10\/no-threats-here\/\">\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=No threats here&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/10\/no-threats-here\/\">\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\/10\/no-threats-here\/&title=No threats here\">\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=No+threats+here+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F10%2Fno-threats-here%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\/10\/no-threats-here\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/803.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87719\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/10\/no-threats-here\/803-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/803.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"803.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/803.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/803.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87718\" class=\"content-area-description single-story post-87718 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-boutique-group tag-enterpriseam-ksa tag-g7 tag-russia tag-saudi-bronx tag-saudi-in-the-news tag-swiss-beatz tag-ukraine 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\/.1570927b-a62a-4f25-95e7-07e67e9798ef.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a mixed bag for the Kingdom in the foreign press this morning<\/strong>, with politics taking somewhat of a lead after <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-09\/saudi-arabia-veiled-threat-to-g7-over-russia-assets?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported that the Kingdom signaled a threat to its counterparts in the Group of 7 over Russia\u2019s frozen assets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ties with G7 are of \u201cmutual respect\u201d:<\/strong> Bloomberg\u2019s sources allege the Finance Ministry hinted at selling debt holdings in Europe \u2014 primarily debt issued by the French treasury \u2014 if the G7 opted for a plan to seize c. USD 300 bn of Moscow\u2019s frozen assets. However, the Finance Ministry maintained in a statement to the business information service that \u201cno such threats were made,\u201d while an unnamed official said that while making threats of this kind are not the government\u2019s way of doing business, it is possible that officials spoke on the outcome that could result from the move. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In perspective: <\/strong>The Kingdom\u2019s debt holdings in Europe (estimated at EUR tens of bns) are unlikely to create a significant dent if sold off. However, European officials shelved the plan on concerns that other countries objecting to the seizures could follow suit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Meanwhile, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-09\/saudi-arabia-spruces-up-1940s-palace-for-ultra-luxury-tourists\" style=\"\" rel=\"noopener\">Bloomberg<\/a><\/strong><strong> is out with an interview with the masterminds behind developing<\/strong> <strong>a near 80-year-old royal palace in Riyadh to a luxurious hotel<\/strong> with an unmatched guest experience. The luxury hotel is being developed by PIF-owned luxury hospitality firm <a target=\"_blank\" href=\"https:\/\/boutiquegroup.com\/\" style=\"\" rel=\"noopener\">Boutique Group<\/a> which aims to turn King Saud bin Abdulaziz\u2019 Red Palace to a luxurious hotel.The 9-acre, art-deco Palace is set to open in 2025, and will feature 70 rooms that aims to give visitors a taste of the Saudi royalty treatment while preserving the palace\u2019s rich history.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More to come:<\/strong> Boutique Group is also working on turning the Tuwaiq Palace in Riyadh and Al Hamra Palace in Jeddah into luxury hotels, with plans being studied for three more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/07\/09\/world\/middleeast\/swizz-beatz-saudi-arabia-camel-racing.html\" style=\"\" rel=\"noopener\">New York Times<\/a> looks at Grammy-decorated American rapper Swiss Beatz\u2019s venture into the world\u2019s most lucrative camel races in Saudi which he calls his \u201csecond home.\u201d Beatz (who was granted Saudi citizenship) speaks about his experience as the owner of his USD multi-mn team of 48 camels, the Saudi Bronx and his growing attachment to Saudi since his visit in 2006. \u201cWhen you discover it, you enter into a whole other world,\u201d he said of the sport.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/boutique-group\/\">Boutique Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/g7\/\">G7<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-bronx\/\">Saudi Bronx<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/swiss-beatz\/\">Swiss Beatz<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ukraine\/\">Ukraine<\/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=\"87720\" 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=\"87720\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/10\/riyadh-air-sets-sight-on-flying-to-oceania-in-near-future-says-ceo\/\">\r\n                            Riyadh Air sets sight on flying to Oceania in coming years, says CEO                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/10\/riyadh-air-sets-sight-on-flying-to-oceania-in-near-future-says-ceo\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Riyadh Air, which plans to debut its commercial flights next year, eyes adding eight cities in Australia \u2014 including Sydney, Melbourne, Brisbane, Perth, and Adelaide \u2014 and three in New Zealand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh Air will rely on partners in the short term: <\/strong>For a start, Riyadh Air is considering leveraging Singapore Airlines\u2019 network, which it recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d4444791-10f6-4771-ba07-f08bce44984e\/flyadeal-eyes-wide-body-jet-order-to-support-expansion-plans\" style=\"\" rel=\"noopener\">signed<\/a> an MoU with, to offer interline flights to Australia and New Zealand, Douglas said. \u201cIn the early stage of building our network, we\u2019re more likely to put on a \u2018thick route\u2019 into Singapore,\u201d Douglas said. \u201cGiving people a wonderful guest experience on Riyadh Air... and the final leg [to Australia or New Zealand] on an equally incredible product and experience with Singapore Airlines.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>Only Emirates and Singapore Airlines currently fly to all five major Australian cities, according to Executive Traveller. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emir of Madinah Prince Salman bin Sultan broke ground on 65 environmental, water, and <\/strong><strong>agricultural development projects worth over SAR 11.5 bn<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2135095\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported. The newly launched projects include phase 4 of the Yanbu-Madinah Water Transmission System which has a transmission capacity of 550k cubic meters per day and the Yanbu Phase III gas feed line project with a production capacity of 640 mn standard cubic feet of gas per day. It also includes a project by Saudi Water Partnerships Company with the private sector for a desalination plant based on reverse osmosis technology in Yanbu. The project will have a production capacity of 450k cubic meters per day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul-listed<\/strong><strong> drugmaker Avalon Pharma has lined up Shariah-compliant bank facilities<\/strong> <strong>worth SAR 70 mn from Emirates NBD<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWhUQ3WEUjI-IEiPOxgw6jiQwQ3CU-PeOusL46q7tubc3BQIxEEEvKacqlYJmut8QZ2t7DrZGLs4DvzXEhd_tLwbDoIkTC9Z1AKPQ1kA4a09xiQE6QP7R44fy8LeefEWCzivwJuID-JJhDIRnMnn-wxNJ2-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!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The one-year loan will help Avalon finance its operations. No further details were provided. Avalon Pharma made its market debut on Tadawul <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cf04af58-2e30-49e2-8df1-3b0176fe1c4c\" style=\"\" rel=\"noopener\">in February<\/a> after a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7c02cf1a-7353-4702-b29a-03f59e911b3f\" style=\"\" rel=\"noopener\">SAR 492 mn IPO<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi, Romania to cooperate on developing the logistics sector:<\/strong> Transport Minister Saleh bin Nasser Al Jasser signed an MoU with his Romanian counterpart Sorin-Mihai Grindeanu to cooperate on developing the countries\u2019 logistics sector by exchanging expertise on logistics zones, facilities, infrastructure, shipping services, and policies, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2135212\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">RETAIL- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Taiwanese bubble tea chain <\/strong><strong><a target=\"_blank\" href=\"https:\/\/gongchausa.com\/\" style=\"\" rel=\"noopener\">Gong Cha<\/a><\/strong><strong> made its MENA debut with its first Saudi store<\/strong> <strong>at Cenomi\u2019s The View Mall in Riyadh<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/gongchagloballtd_riyadh-saudiarabia-middleeast-activity-7214985735035072514-azlJ?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">post on Linkedin<\/a>. The entry to the region comes months after it signed with local food services company <a target=\"_blank\" href=\"https:\/\/shahiainvest.com\/index.php\" style=\"\" rel=\"noopener\">Shahia Foods Group<\/a> its \u201clargest-ever franchise agreement in the Middle East.\u201d The <a target=\"_blank\" href=\"https:\/\/www.worldcoffeeportal.com\/Latest\/News\/2024\/January-(2)\/Gong-cha-signs-largest-master-franchise-deal-to-da\" style=\"\" rel=\"noopener\">agreement in January<\/a> sees Shahia open branches for the brand in the UAE and Bahrain next year under a goal to open at least 300 stores across the region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One more to come:<\/strong> A second Gong Cha outlet will open in the \u201ccoming weeks,\u201d the bubble tea brand said, without disclosing the location. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Lulu opens its 61st store in the Kingdom:<\/strong> UAE-based hypermarket chain Lulu Group inaugurated a new store in Riyadh\u2019s Laban Square, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/lulu-group_the-grand-shopping-fiesta-begins-here-activity-7216105602429665280-C35R?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">LinkedIn post<\/a> from the company. This marks the company\u2019s 61st store in the Kingdom, according to <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2545861\/corporate-news\" style=\"\" rel=\"noopener\">Arab News<\/a>. The hypermarket chain said <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1669987\" style=\"\" rel=\"noopener\">last year<\/a> that it plans to have a total of 100 stores nationwide.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Lulu is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/eaeb2656-fa3e-4e48-8d21-772adfd9470f\" style=\"\" rel=\"noopener\">reportedly<\/a> eyeing a dual listing on Tadawul and ADX in 2H 2024, in an offering that could be worth as much as USD 1 bn.<\/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>#1- More Optimo fitness centers are coming to Riyadh: <\/strong>Nomu-listed <a target=\"_blank\" href=\"https:\/\/armahsports.com\/\" style=\"\" rel=\"noopener\">Armah Sports<\/a> has signed a SAR 127.6 mn, 21.5-year ground lease agreement to set up two fitness centers under its <a target=\"_blank\" href=\"https:\/\/optimo.com.sa\/en\" style=\"\" rel=\"noopener\">Optimo<\/a> brand in Al Wadi District in Riyadh, 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\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC85NTkwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMjUy\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The agreement will also see Armah develop commercial and office spaces for leasing. Optimo currently has three branches, according to its website.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Al Othaim Markets gets its land leases renewed for shopping mall, showrooms in<\/strong> <strong>Dammam: <\/strong><a target=\"_blank\" href=\"https:\/\/www.othaimmarkets.com\/\" style=\"\" rel=\"noopener\">Abdullah Al-Othaim Markets Company<\/a> has renewed two ground lease contracts with the General Organization for Social Ins. for a shopping mall and commercial showrooms it operates in Dammam, according to disclosures to Tadawul (<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-oyMTAwFA_ODVPvyA3NMIgMyA3XNdREQCYtcpV\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MTI2MC9jb21wYW55U3ltYm9sLzQwMDEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMTAwFC_IDc0wiAzIDfcUVERAF7Z-JM!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MTI2MS9jb21wYW55U3ltYm9sLzQwMDEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">here<\/a>). With each getting a 15-year term renewal, the new leases will go into effect on 9 June 2028, after the previous 25-year agreements expire.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>The land lease agreement for the shopping mall was valued at SAR 331.5 mn, while that for the showrooms was valued at SAR 91.2 mn. Both agreements are pending Al Othaim Markets\u2019 shareholders approval.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EDUCATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Human Resources and Social Development Ministry<\/strong><strong> wrapped up the first phase of its<\/strong> <strong>vocational verification program <\/strong><strong>for expat workers<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.hrsd.gov.sa\/ar\/media-center\/news\/080720241\" style=\"\" rel=\"noopener\">statement<\/a>. The program aims to ensure that incoming expat workers hold authentic academic academic qualifications and have the required skills for the local job market. The first phase covered 128 countries.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-othaim-markets\/\">Al Othaim Markets<\/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\/armah-sports\/\">Armah Sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/avalon-pharma\/\">Avalon Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gong-cha\/\">Gong Cha<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/lulu\/\">LuLu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/optimo\/\">Optimo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/riyadh-air\/\">Riyadh Air<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/shahia-foods-group\/\">Shahia Foods Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tony-douglas\/\">Tony Douglas<\/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=\"87722\" 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=\"87722\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/10\/china-is-building-its-war-chest-for-a-sovereign-bond-market-intervention\/\">\r\n                            China is building its war chest for a sovereign bond market intervention                        <\/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\/10\/china-is-building-its-war-chest-for-a-sovereign-bond-market-intervention\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Following weeks of <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/07\/03\/business\/china-bond-market-bank-crisis-svb-intl-hnk\/index.html\" style=\"\" rel=\"noopener\">expressing its concern<\/a> about record-low yields, the People\u2019s Bank of China is now moving to build up firepower to sell CPY hundreds of bns of sovereign bonds as it looks to cool off demand for the paper. The country\u2019s central bank will \u201ccontinue to borrow and sell the bonds on an open-ended and unsecured basis,\u201d according to the salmon-colored paper. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Demand for the sovereign bonds has been red-hot:<\/strong> Investors have been pouring into China\u2019s sovereign bonds as the country\u2019s economy stumbles due to an ongoing real estate market crisis and <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/02\/02\/investing\/chinese-stocks-fall-worst-week-in-years\/index.html\" style=\"\" rel=\"noopener\">volatility in its equities<\/a>. That\u2019s pushed yields on 10-year bonds below 2.4% for the majority of the year, while the country\u2019s central bank has said that the \u201cideal range\u201d for yields on these notes is between 2.5-3%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s going to take more than a limited intervention:<\/strong> Although the signaling from the People\u2019s Bank of China has helped to some degree, pundits say the issue is more structural and is unlikely to be resolved entirely through a bond market intervention \u201cunless the intervention is massive.\u201d One Natixis senior economist tells the FT that the People\u2019s Bank of China will likely need to buy up \u201cat least 5% of outstanding government bonds \u2026 to make a significant difference.\u201d Altogether, that would be around CPY 1.5 tn worth of bonds.<\/p>\n<p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are having another mixed morning<\/strong>, with Hong Kong\u2019s Hang Seng index and Japan\u2019s Nikkei both up, as China reports better-than-expected inflation data and Japan\u2019s corporate goods price index rises in line with expectations. South Korea\u2019s Kospi and the ASX 200 are both in the red. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wall Street futures were little changed<\/strong> in overnight trading after the S&P 500 posted another record close, as traders celebrated Powell\u2019s signals for a potential rate cut soon.<\/p>\n<p><a target=\"_blank\" id=\"t.1f655c99dd6be9ff8687cb24b1a27d104c9f4a8d\" 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\">11,779<\/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: -1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,472<\/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: -5.1%)<\/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>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\">25,561<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.7% (YTD: +4.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6.5% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-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\">28,466<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +14.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,136<\/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\">+0.03% (YTD: -4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,078<\/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: +0.46%)<\/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&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\">5,577<\/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: +16.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,140<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +5.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4.904<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: +8.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 84.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.35<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,367.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 57,860.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.9% (YTD: +37.0%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI <\/strong>rose 0.5% <strong>yesterday <\/strong>on turnover of SAR 5.2 bn. The index is down -1.6% 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 Kathiri (+7.5%), Sasco (+6.1%) and Miahona (+5.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Al Baha (-7.7%), SSP (-2.7%) and Extra (-2.6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong> fell 1.7% <strong>yesterday <\/strong>on turnover of SAR 34.9 mn. The index is up 4.2% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Neft Alsharq (+10.3%), Leaf (+9.1%) and Apico (+5.3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Gas (-7.7%), Ladun (-7.2%) and Sure (-5.6%)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shareholders of Tadawul-listed Ayyan Investment approved the board\u2019s recommendatio<\/strong><strong>n<\/strong><strong> to increase its capital by 24.8% to SAR 1 bn by way of a rights issue<\/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\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMTQwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMjU3\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The capital increase comes under a plan to procure medical devices and equipment for a hospital affiliated with its subsidiary Al Salam Medical Services and pay obligations owed by the subsidiary among others, it added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alinma Investment will distribute SAR 5 mn in dividends to all unitholders of its Alinma<\/strong> <strong>Saudi Government Sukuk ETF Fund - Short Maturity <\/strong>for 1H 2024, 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\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC85NDA0L2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMjU2\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Shares will be distributed within 10 business days after the distribution entitlement date, it added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sedco Capital will distribute SAR 23.4 mn in dividends to all unitholders of its Sedco<\/strong> <strong>Capital Reit Fund <\/strong>for 2Q 2024, 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\/jZBNj4IwEIZ_yx64MrNSkN0bGxXjR0SJAXvZFK2FBFqCdYn_fqueNPgxt5l53nfeDFBIgUr2VwimCyVZafoN9X7dwMPe2MdFOOoNcTn6-lkOhuEnTgkktwDGkWuAaO7McIUhekDf0eODCvC1nj5Fwv490BHxAjzJMAEqSpVd_xHIzPEF0IbvecMb-9iYca51ffi20MK2bW2hlCi5vVWVhV2SXB00pLfkmTu7XEw027H2WBo1NauayVN8qjJlDhGHEIi5hLpap1hEVeJrNyPBxz-ayFXP\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MTI2Mi9jb21wYW55U3ltYm9sLzQzNDQvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The distribution date was set for Thursday, 22 August. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87724\" 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\/10\/87724\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87724\" class=\"content-area-description single-story post-87724 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>7-11 July (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 style=\"font-weight:400;\">,  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 (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 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 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>10-11 September (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.skymovemena.com\/\" style=\"\">SkyMove MENA<\/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;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-16 October (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.terrapinn.com\/exhibition\/solar-show-ksa\/index.stm\" style=\"\">Solar & Storage Live KSA<\/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>16-17 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/gaaf2024.com\/\" style=\"\">Global Airport & Aviation Forum<\/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;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>11-12 November (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wamsaudi.com\/\" style=\"\">World Advanced Manufacturing Logistics Summit & Expo<\/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>11-12 November (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiairportexhibition.com\/\" style=\"\">Saudi Airport Exhibition<\/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;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>19-21 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/simrsnf.com\/\" style=\"\">Saudi International Maritime Forum<\/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>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudi-electricityexpo.com\/en\/home.html\" style=\"\">Future Power 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;\">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;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>2-3 December (Monday-Tuesday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iata.org\/en\/events\/all\/wings-of-change-middle-east\/\" style=\"\">Wings of Change Middle East<\/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: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\">JANUARY 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-29 January (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sustainmideast.com\/\" style=\"\">Sustainability Forum Middle East<\/a><\/span><span>, 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;\">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\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Aramco taps international debt market | Saudi investors 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