{"id":87923,"date":"2024-07-17T00:00:00","date_gmt":"2024-07-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=87923"},"modified":"2025-12-14T18:34:20","modified_gmt":"2025-12-14T18:34:20","slug":"pifs-big-renewable-energy-manufacturing-play","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/pifs-big-renewable-energy-manufacturing-play\/","title":{"rendered":"PIF\u2019s big renewable energy manufacturing play"},"content":{"rendered":"<section id=\"87925\" 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=\"87925\">\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\/17\/goldman-sachs-said-to-be-readying-new-middle-east-focused-investment-fund-taps-saikaly-to-lead-new-riyadh-unit\/\">\r\n                            THIS MORNING: Goldman Sachs said to be readying new Middle East-focused investment fund, taps Saikaly to lead new Riyadh unit                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1355.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87926\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/goldman-sachs-said-to-be-readying-new-middle-east-focused-investment-fund-taps-saikaly-to-lead-new-riyadh-unit\/1355-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1355.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1355.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1355.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1355.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87925\" class=\"content-area-description single-story post-87925 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-airlines tag-al-hokail-academy-specialized-digital-polyclinics tag-anaam-holdings tag-ballard-partners tag-capital-markets tag-enterpriseam-ksa tag-goldman-sachs tag-ipo-watch tag-saudia tag-wasit-saudi tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.ed237bc5-7c5f-4be2-b5d8-9805b191956f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have another packed issue for you this morning, friends<\/strong>, with plenty of <strong>renewable <\/strong><strong>energy<\/strong> news (we\u2019re going to be building a components industry here in Saudi), a look at the <strong>sukuk<\/strong> market in the first half, and coverage of the IMF\u2019s latest World Economic Outlook report. The fund has cuts its <strong>growth outlook<\/strong> for Saudi for the third time this year, but sees the global rate of growth holding steady from its last forecast.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FAST FACT- A very expensive pest. <\/strong>Did you know the red palm weevil costs the Kingdom\u2019s SAR 9.2 bn date industry some SAR 1 bn in losses every year? Neom\u2019s Topian and a Kaust-backed startup are working on a technology they hope is part of the solution, as we report in this morning\u2019s Also on our Radar. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt4\"><\/a> ** PROGRAMMING NOTE- EnterpriseAM Saudi is off tomorrow. <\/strong>Longtime readers of our other publications know that we take occasional holidays during the dog days of summer and toward year\u2019s end to recharge our batteries. We\u2019re taking a day tomorrow to enjoy some time with family and friends \u2014 we\u2019ll see all of you back here on Sunday at our usual time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UP FIRST-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a>  WATCH THIS SPACE #1- Goldman Sachs is jumping on the Middle East fund bandwagon:<\/strong> Goldman Sachs is reportedly hiring a \u201clongtime JPMorgan Chase banker\u201d to lead a new Middle East-focused investment fund it plans to launch, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-16\/goldman-joins-rivals-in-setting-up-new-mideast-focused-fund\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources it said have knowledge of the matter. Discussions are ongoing for an open-ended fund, with the final size of the fund not yet disclosed. This comes after Goldman Sachs became the first Wall Street bank to secure ana regional headquarters license to set up shop in the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Habib Saikaly will oversee the fund as the Riyadh-based head of Goldman\u2019s fundamental <\/strong><strong>equity business across the Middle East and North Africa<\/strong>, Bloomberg reports. The 13-year JPM veteran\u2019s bio page shows he\u2019s had stints with the bank in London and was previously with Credit Suisse, Deloitte, and PwC. He holds a BS in electrical engineering from Loyola Marymount University and a master\u2019s from ESCP Europe Business School.<\/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><a id=\"wwtt2\"><\/a> WATCH THIS SPACE #2- Saudia is set to take first deliveries from its USD 19 bn Airbus <\/strong><strong>order in 2026<\/strong>, when it will receive 15 or 16 aircraft out of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/027bea23-9269-4073-8314-6a784852c0ed\/day-1-of-the-future-aviation-forum-ends-on-a-high-note\" style=\"\" rel=\"noopener\">105 it ordered<\/a>, Saudia Director General Ibrahim Al Omar told Asharq Business (<a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbKSA\/status\/1813174974393278489\" style=\"\" rel=\"noopener\">watch, runtime: 0:24<\/a>). The rest of the aircraft will be delivered between 2026 and 2030, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Saudia placed the largest aircraft order in the Kingdom\u2019s history during the Future Aviation Forum back in May, which will see it add additional A320neo aircraft to its fleet. The aircraft will be distributed between the flagship carrier and its low-cost subsidiary Flyadeal, with Saudia set to receive 54 A321neo, while Flyadeal will get 12 A320neo and 39 A321neo. The order could have been bigger, but Airbus <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-20\/airbus-wins-historic-order-from-saudi-arabia-s-flagship-carrier\" style=\"\" rel=\"noopener\">couldn\u2019t handle any more<\/a> deliveries before 2032.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> Saudia wants to increase the number of its passengers to 330 mn and expand destinations to 250 by 2030, it said. The target plays into the Tourism Ministry\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4d43f6ce-8ecc-41b8-8135-0da085f9952c\" style=\"\" rel=\"noopener\">goal to lure in 150 mn tourist trips<\/a> after it hit its target last year ahead of schedule. It also accommodates a target to increase the number of pilgrims to 30 mn by the end of the decade.<\/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>WATCH THIS SPACE #3- Florida-based lobbying firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ballardpartners.com\/about\/who-we-are\/\" style=\"\" rel=\"noopener\">Ballard Partners<\/a><\/strong><strong> is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/english.aawsat.com\/business\/5040609-ballard-partners-seeks-open-legal-office-saudi-arabia\" style=\"\" rel=\"noopener\">said to<\/a><\/strong><strong> be <\/strong><strong>preparing to open an <\/strong><strong>office in Riyadh.<\/strong> Ballard, founded in 1998, has offices in a number of major US cities as well as Israel, Turkey and Nigeria. It claims Amazon, Google, Blackstone, Boeing, GM, the NBA, the New York Yankees, and the government of Turkey among its clients. <\/p>\n<p class=\"tag-border-left\">NOMU WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Homegrown agri-food company Anaam Holding is looking to sell a 20-30% stake <\/strong><strong>in its <\/strong><strong>toymaking<\/strong><strong> unit <\/strong><strong><a target=\"_blank\" href=\"https:\/\/wasitksa.com\/\" style=\"\" rel=\"noopener\">Wasit Saudi<\/a><\/strong><strong> in an IPO on Tadawul\u2019s parallel market, Nomu<\/strong>, CEO Hassan Al Yamani told <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1740902\" style=\"\" rel=\"noopener\">Argaam<\/a>. Anaam has tapped Wasatah Capital as financial advisor to quarterback the sale, which could go to market anytime between next year and 2026, Al Yamani said. The company is said to be targeting a top line of SAR 36 mn and a bottom line of SAR 6-10 mn this year; it produces toys and waterpark play structures for clients including Toys R Us, Al Hokair, and the Culture Ministry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> #2- Al Hokail Academy Specialized Digital Polyclinics has pulled the plug on its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/943562fd-1aa0-457e-bf72-bb131cded9ff\" style=\"\" rel=\"noopener\">Nomu IPO<\/a><\/strong> following consultations with its financial advisor Emirates NBD Capital KSA, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details?locale=en&anCat=123&anId=81366&cs=1059\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Al Hokail could revive its IPO plans at a later stage, it added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Designs for the New Murabba Stadium have been released:<\/strong> The new 45k seat facility in Riyadh will span 180k sqm, boasting entertainment hubs, retail outlets, and restaurants alongside all the sports events it is set to host, New Murabba Development Company <a target=\"_blank\" href=\"https:\/\/x.com\/newmurabba\/status\/1813228036461900230\" style=\"\" rel=\"noopener\">said on X<\/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\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Real Estate General Authority\u2019s Real Estate Brokerage <\/strong><strong>Forum kicks off today<\/strong> at the Riyadh International Convention and Exhibition Center. The event <a target=\"_blank\" href=\"https:\/\/x.com\/REGA_KSA\/status\/1812535278038638715\" style=\"\" rel=\"noopener\">will look at<\/a> amendments to the brokerage system that went into effect in January 2023, as well as <a target=\"_blank\" href=\"https:\/\/x.com\/REGA_KSA\/status\/1812537542887018924\" style=\"\" rel=\"noopener\">real estate platforms and the future<\/a> of real estate market with speakers from <a target=\"_blank\" href=\"https:\/\/alwatania.com.eg\/en\/\" style=\"\" rel=\"noopener\">Al Watania Real Estate<\/a>, the Digital Government Authority, and proptech outfits <a target=\"_blank\" href=\"https:\/\/sa.aqar.fm\/\" style=\"\" rel=\"noopener\">Aqar<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.bayut.sa\/en\/about\/aboutus.html\" style=\"\" rel=\"noopener\">Bayut<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.tamimi.com\/news\/the-new-ksa-real-estate-broker-law-what-you-need-to-know\/\" style=\"\" rel=\"noopener\">broker regulations<\/a> cover licensing and training, advertising regulations, brokerage contracts, and transaction recording. The regulations were released in July 2022 and came into effect this past January.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alkhabeer Capital\u2019s Alkhabeer Diversified Income Traded Fund 2030 will debut on <\/strong>Tadawul today, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details\/!ut\/p\/z1\/vVPLVsIwEP0VXbAMGVr6wF18VTxFrLxsN5yQhhJtk9pG6ucbwAV48LUxq7mTO5nHneAEP-JE0rXIqBZK0tzgOHHnDnHBuvFhGIzDDkRTL_Sn0bgD_S6e4gQnTOpSr3CsaUqb13zOZQtqij7g1i4rwXhNZSpkyo21dUre7IyCVs9c7yDTexDlotZCZicdB4GHLLC6m4S5YjTnOOZyg0omUhzbPcZ9ChaCdOmhrstc1HMoQx22WPiOB0ua2nh22I8_CFyI7kg0tDwHging5Pt2P8XD6N6B6Pp-YIfwAAG4v4uHLw75Mf_IdBybN7wvScQkWQve4IlUVWEkHP1xRIY9uxjMo8nVg8m0N-kbwLc_1Wf2RTy9vCTELIWSmr9p_Pg_WzHbFL5f3JD0PKPN7XnQD4ntu95nwhHxDwlH1N0SvpHPDCjL1WL3c4hc2H6Gk4ovecWr9mtl3Cuty_qsBS1omqadKZXlvM1U0YJjIStVmwkeMnFZFL5doMnEXIx5PL8Ml6P-k5OvQ3L6DrWhzfE!\/dz\/d5\/L2dBISEvZ0FBIS9nQSEh\/?locale=en\" style=\"\" rel=\"noopener\">a disclosure<\/a>. <a target=\"_blank\" href=\"https:\/\/www.alkhabeer.com\/income30\/\" style=\"\" rel=\"noopener\">The fund<\/a> is a Shariah-compliant closed-ended investment fund.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER-<\/strong> Another hot day is in the cards for Riyadh, where you can expect a daytime high of 44\u00b0C and nighttime low of 31\u00b0C today. It\u2019s almost as hot in Makkah, where the mercury will peak at 42\u00b0C during the day before dropping to a more balmy 29\u00b0C at night. Meanwhile, Jeddah, the coolest of the three, is looking at a high of 38\u00b0C and a low 30\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\"><strong>#1- Saudi fishermen are now eligible for financial support after the government launched <\/strong><strong>a<\/strong><strong> SAR 54k award program <\/strong>in a bid to retain skilled workers and ensure steady fish supply, according to <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/world\/gulf\/saudi\/saudi-arabia-launches-sr54000-reward-programme-for-professional-fishermen-1.103520217\" style=\"\" rel=\"noopener\">Gulf News<\/a>. The program is managed by the Sustainable Agricultural Rural Development Programme. Eligibility requires a valid fishing license and active engagement in fishing activities, according to a <a target=\"_blank\" href=\"https:\/\/x.com\/MEWA_KSA\/status\/1812506748722295207\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Attention all camel owners and aficionados: <\/strong>The Camel Club will soon launch the first-ever platform for the camel sector and its owners, Camel Club Chairman Fahd bin Hathlain said in a <a target=\"_blank\" href=\"https:\/\/x.com\/F_BinHithleen\/status\/1812890481828741282\" style=\"\" rel=\"noopener\">post on X<\/a>. The platform will operate similarly to the Interior Ministry\u2019s <a target=\"_blank\" href=\"https:\/\/www.absher.sa\/wps\/portal\/individuals\/Home\/homepublic\/!ut\/p\/z1\/hY6xDoIwEIafhYGVu5agxK041BgSI4vYxYApBVMoKRVe3yZOJBhv--__vsuBgBLEUM2dqlxnhkr7fBe7ByeEnSjHnPOC4vXISLxnGUlJArd_gPA1_hiG3hcbCMOsoFmMyC90E1jdOINQ2tTfd9lQx6kCYWUjrbTR2_p169w4HUIMcVmWSBmjtIyepg9xS2nN5KBckzD2Jb4SPecsCD5ltjEP\/dz\/d5\/L0lDUmlTUSEhL3dHa0FKRnNBLzROV3FpQSEhL2Vu\/\" style=\"\" rel=\"noopener\">Absher<\/a> platform, which acts as an online portal for citizens to access Saudi government services digitally. <\/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\">BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Surprising absolutely no one, Donald Trump is still plastered across front pages of the <\/strong><strong>global press. <\/strong>The, uhm, highlights:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Trump would give Jay Powell a second term<\/strong>, telling Bloomberg in a <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/features\/2024-trump-interview\/?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">sweeping interview<\/a> that he would allow the US Federal Reserve boss to serve out his current term, which ends in 2026. He also discussed <strong>tariffs<\/strong> (he loves them), <strong>Tiktok<\/strong> (he doesn\u2019t want to ban it), and <strong>taxes<\/strong> (he wants to slash the corporate tax to 15%), among other things. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- A Trump presidency could spell a rise in global inflation <\/strong>as a result of his US-first policies like tax cuts and high tariffs, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/07\/16\/trump-2point0-could-be-bad-news-for-global-inflation-analysts-say.html\" style=\"\" rel=\"noopener\">CNBC<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The US allegedly received intelligence of an Iranian plot to assassinate Trump <\/strong>weeks before the shooting, which is why the Secret Service ramped up security around him, <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/07\/16\/politics\/iran-plot-assassinate-trump-secret-service\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> reported yesterday. Pundits and lawmakers are still asking how the shooter got to within mere meters of Trump.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Trump is lining up new supporters<\/strong>, including <a target=\"_blank\" href=\"https:\/\/abcnews.go.com\/Politics\/after-bashing-trump-primary-haley-desantis-preach-unity\/story?id=111994472\" style=\"\" rel=\"noopener\">former critics from the Republican party<\/a> and <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/musk-turbocharges-silicon-valley-for-trump-379c3e94?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Big Tech<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE LATEST IN FRANCE- The government of French Prime Minister Gabriel Attal handed <\/strong><strong>in its resignation yesterday<\/strong> even though left-of-center parties have not yet reached a decision on who will form the next government. The move allows now-former cabinet members who have secured seats as lawmakers in the National Assembly to vote on the next house speaker tomorrow. (<a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/europe\/macron-government-resigns-as-frances-paralysis-deepens-ahead-of-olympics-9f87bab6?mod=hp_lead_pos6\" style=\"\" rel=\"noopener\">WSJ<\/a>)<\/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>It\u2019s similarly a mixed bag in the business press<\/strong>, with no dominant them running across front pages: <\/p>\n<ul>\n<li><strong>Chinese businessman Guo Wengui<\/strong> \u2014 a Chinese Communist party critic and Trump ally \u2014<strong> was convicted<\/strong> in a US court of what prosecutors said was a USD 1 bn fraud. (<a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/ce78gkd7pgjo\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/li>\n<li><strong>Elon Musk says he\u2019s moving the Tesla and SpaceX headquarters from California to <\/strong><strong>Texas<\/strong> in response to a new gender identity law he opposes in the Pacific state. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/musk-says-spacex-will-move-headquarters-texas-california-2024-07-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/li>\n<li><strong>Turkey is looking to impose a minimum corporate tax on large multinationals<\/strong> and will hike pensions as part of a corporate tax overhaul. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/adc63fb8-c085-4d51-946d-01d20899f3fe\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.dailysabah.com\/business\/economy\/turkiye-hikes-minimum-pension-to-impose-corporate-tax\" style=\"\" rel=\"noopener\">Daily Sabah<\/a>)<\/li>\n<\/ul>\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 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ticketmaster.com\/event\/0A0060CAEAB64532\" style=\"\" rel=\"noopener\">Crawford vs Madrimov<\/a><\/strong><strong> boxing showdown will take place on Saturday, 3 August <\/strong>at the Los Angeles BMO Stadium. The event is the highlight of the Los Angeles Riyadh Season Card which features five other bouts. You can check them out <a target=\"_blank\" href=\"https:\/\/x.com\/vinquezada1\/status\/1783210188507656475\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>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 audio webcast of its <a target=\"_blank\" href=\"https:\/\/webcast.openbriefing.com\/10977\/\" style=\"\" rel=\"noopener\">earnings call here<\/a>. The oil giant\u2019s net income dipped a bit more than 14% 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 SAR 102.3 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cybersecurity training event<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/www.sans.org\/cyber-security-training-events\/riyadh-cyber-leaders-2024\/\" style=\"\" rel=\"noopener\">SANS Riyadh Cyber Leaders August 2024<\/a><\/strong> will run from Sunday, 18 August to Thursday, 22 August at the Hyatt Regency Riyadh Olaya. <\/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>. The world\u2019s top esports clubs are 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 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cafonline.com\/caf-super-cup\/news\/caf-president-dr-patrice-motsepe-and-he-turki-alalshikh-announce-riyadh-saudi-arabia-as-hosts-of-the-totalenergies-caf-super-cup-final-2024-as-part-of-riyadh-season-2024\/\" style=\"\" rel=\"noopener\">TotalEnergies CAF Super Cup Final 2024<\/a><\/strong><strong> between Egyptian rivals Al Ahly and <\/strong><strong>Zamalek will be held in Riyadh<\/strong> on Friday, 27 September. The venue and kick-off time of the match will be announced at a later date.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>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} -->\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\/airlines\/\">airlines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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\r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87928\" 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=\"87928\">\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\">RENEWABLES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/pif-partners-with-chinese-manufacturers-to-make-components-for-the-wind-and-solar-energy-here-at-home\/\">\r\n                            PIF forms three joint ventures with Chinese firms to manufacture components for the wind and solar power industries in Saudi Arabia                        <\/a>\r\n                    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           <a href=\"https:\/\/api.whatsapp.com\/send?text=PIF+partners+with+Chinese+manufacturers+to+make+components+for+the+wind+and+solar+energy+here+at+home+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F17%2Fpif-partners-with-chinese-manufacturers-to-make-components-for-the-wind-and-solar-energy-here-at-home%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\/17\/pif-partners-with-chinese-manufacturers-to-make-components-for-the-wind-and-solar-energy-here-at-home\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1309.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87929\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/pif-partners-with-chinese-manufacturers-to-make-components-for-the-wind-and-solar-energy-here-at-home\/1309-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1309.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1309.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1309.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1309.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87928\" class=\"content-area-description single-story post-87928 post type-post status-publish format-standard has-post-thumbnail hentry category-renewables tag-energy tag-enterpriseam-ksa tag-envision-energy tag-jinkosolar tag-lumetech tag-public-investment-fund-pif tag-renewables tag-solar tag-tcl-zhonghuan-renewable-energy tag-vision-industries tag-wind 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\/.ba29d8e0-9451-4632-9eed-01405ac4f6d8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Public Investment Fund signed three separate agreements with major Chinese <\/strong><strong>producers to localize the <\/strong><strong>manufacturing of wind and solar power generation components<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/press-releases\/2024\/pif-strengthens-renewable-energy-localization-in-saudi-arabia-with-three-new-joint-ventures\/\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The agreements were signed by the PIF\u2019s wholly-owned subsidiary Renewable Energy Localization Company (Relc) along with Riyadh-based and privately owned renewable energy firm Vision Industries. Financial details on the agreements were not made public.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One for wind: <\/strong>Relc will partner with Envision Energy (China\u2019s second-largest wind turbine manufacturer) and local player Vision Industries to make wind turbines, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/5d562f2a-8f85-4137-bbc4-849d874ca0e8\/\" style=\"\" rel=\"noopener\">as we noted in yesterday morning\u2019s issue<\/a>. The JV will focus on the manufacturing and assembly of wind turbines and its components, including blades with an estimated annual generation capacity of 4 GW. Its ownership structure will see the Chinese company hold a stake of 50% with a 40% and 10% stake for Relc and Vision. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two for solar: <\/strong>The second JV agreement was signed with China\u2019s solar module manufacturer JinkoSolar and Vision Industries for the manufacturing of 10 GW of photovoltaic cells and modules. Relc and JinkoSolar will both hold a 40% stake each with Vision owning 20%. A third agreement was signed with Lumetech \u2014 a subsidiary of China\u2019s TCL Zhonghuan Renewable Energy \u2014 along with Vision for the production of solar PV ingots and wafers with annual capacity to generate 20 GW of power. The JV will see Relc and Lumetech owning a 40% holding each with Vision holding 20%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve been expecting this: <\/strong>Officials in Beijing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/24ca9eb1-d862-47fb-99c6-c3fedd4f60d0\" style=\"\" rel=\"noopener\">discussed last week<\/a> ramping up trade and investment with Saudi in a sign of a growing interest in the region. They have singled-out priority areas including infrastructure and energy as well as the digital and green economies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cThe new agreements are part of PIF\u2019s efforts to localize advanced technologies in the renewable sector in Saudi Arabia\u2026 and contribute to localizing the production of 75% of the components in renewable projects by 2030. These projects will also enable Saudi Arabia to become a global hub for export of renewable technologies,\u201d PIF Deputy Governor and Head of Mena Investments Yazeed Al Humied said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How the fund\u2019s renewables portfolio is looking: <\/strong>The PIF is currently developing eight renewable energy projects with a total capacity of 13.6 GW through renewables giant Acwa Power and the fund\u2019s fully-owned subsidiary Badeel, according to the statement. The PIF and and its partners have committed some USD 9 bn to the projects. The PIF owns a 44.2% stake in Acwa Power.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growing interest in renewables as Saudi eyes a future beyond oil:<\/strong> The Energy Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0a2508ab-9e16-4f4e-aeeb-eeba315430ce\" style=\"\" rel=\"noopener\">launched last month<\/a> what it said was an \u201cunprecedented\u201d geographic survey to identify sites that could be used to grow the renewable energy industry. Contracts for the project, which the ministry says is the first of its kind, were awarded to local firms to install 1.2k stations to measure solar and wind energy over 850k sqm. <strong>The Kingdom plans to generate 50% of its electricity from renewable energy sources by 2030.<\/strong><\/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\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/envision-energy\/\">Envision Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/jinkosolar\/\">JinkoSolar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/lumetech\/\">Lumetech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/renewables\/\">RENEWABLES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/solar\/\">solar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tcl-zhonghuan-renewable-energy\/\">TCL Zhonghuan Renewable Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/vision-industries\/\">Vision Industries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/wind\/\">Wind<\/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=\"87930\" 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=\"87930\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/aramco-is-acquiring-50-stake-of-air-products-qudras-blue-hydrogen-unit\/\">\r\n                            Aramco is acquiring 50% stake of Air Products Qudra\u2019s blue hydrogen unit                        <\/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\/17\/aramco-is-acquiring-50-stake-of-air-products-qudras-blue-hydrogen-unit\/\" 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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No financial details on the transaction were provided, but the acquisition will see Aramco get the option to buy hydrogen and nitrogen from BHIG. APQ is a joint venture between US industrial gas supplier <a target=\"_blank\" href=\"https:\/\/www.airproducts.com\/\" style=\"\" rel=\"noopener\">Air Products<\/a> and local energy startup <a target=\"_blank\" href=\"https:\/\/www.qudraenergy.com\/\" style=\"\" rel=\"noopener\">Qudra Energy<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale? Develop a lower-carbon hydrogen network at home: <\/strong>Aramco said it expects its investment in BHIG to help create a lower-carbon hydrogen network in the Eastern Region that would serve local and regional customers in the refining, chemical and petrochemical industries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cThis investment highlights Aramco\u2019s ambition to expand its new energies portfolio and grow its lower-carbon hydrogen business\u2026 We intend to leverage our growing capabilities in carbon capture and storage (CCS), as well as our technical expertise in hydrogen, with the ambition to support the establishment of a vibrant marketplace for lower-carbon hydrogen,\u201d Aramco Executive Vice President of Strategy & Corporate Development Ashraf Al Ghazzawi said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Air Products is no stranger to the Kingdom: <\/strong>Neom Green Hydrogen Company, a joint venture between Neom, Acwa Power, and Air Products, is setting up a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5b25cd90-e450-47ee-b0a9-3f382940309e\" style=\"\" rel=\"noopener\">USD 8.5 bn utility-scale green hydrogen facility<\/a> with a 1.2 mn ton annual green ammonia production capacity powered by nearly 4 GW of renewable power.<\/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\/air-products\/\">Air Products<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/air-products-qudra-apq\/\">Air Products Qudra (APQ)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/blue-hydrogen-industrial-gases-company-bhig\/\">Blue Hydrogen Industrial Gases Company (BHIG)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hydrogen\/\">hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/qudra-energy\/\">Qudra Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87932\" 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=\"87932\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/imf-once-again-lowers-our-2024-growth-target-sees-it-coming-in-at-1-7\/\">\r\n                            IMF lowers its forecast for Saudi GDP growth this year to 1.7%                        <\/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\/17\/imf-once-again-lowers-our-2024-growth-target-sees-it-coming-in-at-1-7\/\" 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 Washington-based lender said the downgrade came on the back of ongoing oil production cuts \u2014 it\u2019s the largest single downgrade on growth outlook for the major economies the IMF tracks, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/imf-revises-saudi-gdp-growth-down-oil-cuts-2024-07-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is the IMF\u2019s third downgrade of our GDP growth forecast this year<\/strong> due to combined effects of lower oil prices and production cuts. <\/p>\n<ul>\n<li>It first lowered its projections for the economy\u2019s growth to 2.7% in January from an earlier forecast of 4.0% in October 2023. <\/li>\n<li>It then trimmed its forecast further to 2.6% in spring. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>The Kingdom\u2019s economy contracted 0.9% last year, down from 8.7% growth in 2022 despite continued growth in the non-oil economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>LOOKING AHEAD- A downgrade for next year: <\/strong>The IMF also lowered its projections for Saudi GDP growth in 2025 to 4.7%, 1.3 percentage points below its April forecast.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REGIONALLY- <\/strong>The downgrade for Saudi pushed the IMF\u2019s projection for growth in the Middle East and North Africa down by half a percentage point to 2.2%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> The Kingdom has voluntarily cut oil production by 1 mn barrels per day to stabilize the global market as per its ongoing agreement with OPEC+ to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/23b2bb82-242d-42f7-a587-6812413add07\" style=\"\" rel=\"noopener\">slash oil production<\/a> by a combined 3.7 mn barrels per day until October of this year. <strong>The Finance Ministry is targeting GDP growth of 4.4%<\/strong> for the current fiscal year, Finance Minister Mohamed Al Jadaan <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/69383103-be0f-428c-9c90-dcb717acf955\" style=\"\" rel=\"noopener\">said in December<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How the economy fared in 1Q:<\/strong> The Saudi economy <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5ddc1dba-6aad-4fe6-a686-8e54ad4263e1\" style=\"\" rel=\"noopener\">contracted at a slightly slower pace<\/a> in 1Q 2024 than initially reported, with GDP falling 1.7% y-o-y. State statistics agency Gastat had initially forecasted a 1.8% y-o-y drop, driven largely by a decline in oil activity. Oil activity was down 11.2% y-o-y last quarter, with the y-o-y downtick dragging down the entire aggregate figure for the quarter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>With non-oil activity still the main focus:<\/strong> Non-oil growth is central to the government\u2019s diversification push, designed to reduce the economy's reliance on oil revenues. It grew 3.4% y-o-y in the first quarter of this year, up from Gastat\u2019s previous estimate of 2.8%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Are we preparing to formally pace-out some gigaprojects? <\/strong>A government committee led by Crown Prince and Prime Minister Mohammed bin Salman is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c9cd5ef0-b152-4d03-b4bc-150d17bc68d0\" style=\"\" rel=\"noopener\">reportedly wrapping up<\/a> a review of gigaprojects with a view to trimming spending at some. This comes as officials continue to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ec1a5a17-e4c2-4d18-bcd5-0c94dffd7445\" style=\"\" rel=\"noopener\">hammer the idea<\/a> of preventing the economy from overheating on the back of its economic diversification push while also saying they\u2019re willing to accept modest <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/730d70af-1544-402a-a451-1b7b212ad097\" style=\"\" rel=\"noopener\">fiscal deficits<\/a> as the price of pursuing long-term diversification. <\/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\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/international-monetary-fund-imf\/\">International Monetary Fund (IMF)<\/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=\"87934\" 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=\"87934\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/inflation-cools-off-for-the-first-time-in-three-months\/\">\r\n                            Inflation cools off for the first time in three months                        <\/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\/17\/inflation-cools-off-for-the-first-time-in-three-months\/\" 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 figure had been holding steady at 1.6% from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e6ee8f50-c1ec-4213-89af-bb8afa8ada62\/%253cmark%253einflation%253c%2Fmark%253e-cooled-on-an-annual-basis-in-march-2024\" style=\"\" rel=\"noopener\">March<\/a> through to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/df88a147-d153-4dc8-aef5-36c763ea7295\/%253cmark%253einflation%253c%2Fmark%253e-holds-steady-for-third-consecutive-month\" style=\"\" rel=\"noopener\">May<\/a>. Overall, consumer prices increased at a slower clip in June compared to the previous month, inching up 0.1% primarily driven by an 0.7% increase in housing rents. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The culprit? It\u2019s <\/strong><strong>always rent<\/strong><strong>:<\/strong> Actual housing rents \u2014 which weighs the heaviest of all components in the Saudi consumer basket \u2014 experienced the most significant y-o-y rise, growing 10.1% in June compared to the same month in 2023 on the back of a 7.9% increase in villa rents, according to the statistics agency. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Retailers and mall operators are also facing higher rents, with average rental rates in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/38e9d2d3-5215-4feb-9c18-fd646516aa5f\/retailers-feel-the-pinch-as-riyadh-rents-rise\" style=\"\" rel=\"noopener\">Riyadh\u2019s retail market<\/a> increasing by 3% y-o-y to SAR 2.7k per sqm for regional and international malls, according to a recent Saudi market overview by Knight Frank. \u0650Even so, occupancy rates have risen to 90% y-o-y, supported by a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6a863685-efd5-46a2-83b2-38a6a11c0a59\/saudi%253cmark%253e-tourism%253c%2Fmark%253e-sees-strong-1q-despite-rising-tensions-in-the-region,-says-minister\" style=\"\" rel=\"noopener\">56% y-o-y tourism boom in 2023<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Food and beverage and the education sectors each saw prices rise 1.1% y-o-y in June<\/strong>, mainly driven by a 6.5% y-o-y rise in vegetable prices and a 4.1%y-o-y rise in secondary school fees. The cost of dining out or staying at a hotel grew 2.4% y-o-y on the back of a 9.8% increase in accommodation service prices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to dig deeper? <\/strong>Dive into the government\u2019s breakdown of the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1251.pdf\" style=\"\" rel=\"noopener\">average prices of goods<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1251.pdf\" style=\"\" rel=\"noopener\">and services for June here (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, carpets, clothes, and cars are getting cheaper:<\/strong> Furniture and home item prices fell 3.7% y-o-y, on the back of a 6.0% drop in the price of carpets and flooring. Additionally, a 6.3% price drop in ready-made clothing drove down the price of clothing and footwear 3.6% y-o-y, marking a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3a252b20-88b1-41f2-9562-fb8baf98e34b\/%253cmark%253einflation%253c%2Fmark%253e-was-unchanged-in-april-2024\" style=\"\" rel=\"noopener\">fourth-month downward trend<\/a>. Transportation was down 2.7% y-o-y, driven by a 4.6% drop in the price of cars.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Producer prices remained unchanged from May<\/strong>, holding steady at 3.2% y-o-y in June, according to Gastat\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1256.pdf\" style=\"\" rel=\"noopener\">wholesale price index (pdf)<\/a>. The uptick was driven by basic chemicals (up 13.4% y-o-y) and refined petroleum products (up 12% y-o-y), as well as food products, beverages, tobacco, and textiles, which rose 1.3% y-o-y.<\/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\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/inflation\/\">Inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/the-general-authority-for-statistics-gastat\/\">The General Authority for Statistics (Gastat)<\/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=\"87936\" 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=\"87936\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/another-bond-sale-in-the-works-for-aramco-pipelines\/\">\r\n                            BlackRock-led investors hire banks ahead of bond sale for Aramco pipelines                        <\/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\/17\/another-bond-sale-in-the-works-for-aramco-pipelines\/\" 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\/17\/another-bond-sale-in-the-works-for-aramco-pipelines\/')\">\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\/17\/another-bond-sale-in-the-works-for-aramco-pipelines\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Another bond sale in the works for Aramco pipelines&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/another-bond-sale-in-the-works-for-aramco-pipelines\/\">\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\/17\/another-bond-sale-in-the-works-for-aramco-pipelines\/&title=Another bond sale in the works for Aramco pipelines\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Another+bond+sale+in+the+works+for+Aramco+pipelines+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F17%2Fanother-bond-sale-in-the-works-for-aramco-pipelines%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\/17\/another-bond-sale-in-the-works-for-aramco-pipelines\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1315.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87937\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/another-bond-sale-in-the-works-for-aramco-pipelines\/1315-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1315.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1315.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1315.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1315.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87936\" class=\"content-area-description single-story post-87936 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-aramco tag-blackrock tag-debt-watch tag-energy 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\/9\/.82468aa9-bca1-4e87-b3c0-55fd79792d07.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> BlackRock-led investors in Aramco Gas Pipelines have hired banks ahead of a planned <\/strong><strong>bond sale<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/blackrock-led-investors-aramco-pipelines-hire-banks-bond-sale-2024-07-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported yesterday, citing a bank document that it has seen. They hired JPMorgan and Standard Chartered to arrange investor meetings, which began yesterday, for the sale aimed at refinancing a loan used for their stake purchase in Aramco\u2019s gas pipelines network.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>A consortium led by Blackrock and Hassana \u2014 the investment management arm of the General Organization for Social Ins. \u2014 <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2021\/aramco-announces-landmark-gas-pipeline-deal\" style=\"\" rel=\"noopener\">acquired in 2021<\/a> a 49% stake in Aramco Gas Pipelines through a USD 15.5 bn lease-and-leaseback agreement. To finance this acquisition, they initially took a bridge loan totaling USD 13.4 bn. The issuance of amortizing bonds by the consortium would serve as a long-term method to refinance the bridge loan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>A sale of 12- and 18-year USD-denominated amortizing bonds will take place, subject to market conditions, after banks wrap up investor meetings, one of the documents showed. The bond tranches have weighted average lives of 10 and 14.5 years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A familiar process: <\/strong>In February 2023, Greensaif Pipelines Bidco, which is 77.2% owned by BlackRock and its affiliates and 22.8% owned by Hassana, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/blackrock-led-investors-aramco-pipelines-start-bond-sale-2023-02-09\/\" style=\"\" rel=\"noopener\">raised USD 4.5 bn<\/a> by selling amortizing bonds to refinance the loan.<\/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\/blackrock\/\">BlackRock<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87938\" 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=\"87938\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/sukuk-market-grows-in-1h-2024\/\">\r\n                            Saudi sukuk market grows in 1H 2024                        <\/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\/17\/sukuk-market-grows-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(); 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The upwards trend comes as Saudi \u201ctapped the market with jumbo issuances and has also started to issue retail sukuk,\u201d S&P said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SAR-denominated sukuk issuances in Saudi more than tripled y-o-y in 1H 2024<\/strong>, hitting USD 10 bn during the first six months of the year. This growth comes despite local currency sukuk declining 8.8% y-o-y on a global scale, driven largely by Turkey, Pakistan, the UAE, and Malaysia taking lower issuances to market, according to S&P. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, foreign currency-denominated sukuk grew some 38% y-o-y<\/strong> to USD 18 bn in 1H 2024. By way of comparison, global FCY-denominated sukuk issuances grew 24% y-o-y during the six-month period to hit USD 32.7 bn. The growth in Saudi\u2019s FCY sukuk issuances means the Saudi banking system is likely to \u201cshift to a moderate net external debt position in the next few months,\u201d S&P Global said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bird\u2019s eye view:<\/strong> Total global sukuk issuances hit USD 91.9 bn at the mid-year mark, up slightly from USD 91.3 bn during the same period last year. The rise in sukuk issuances comes on the back of improved visibility on medium-term interest rates and high financing needs in core Islamic countries (including Saudi). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sustainable sukuks dipped 8.8% y-o-y to USD 5.2 bn in 1H 2024.<\/strong> The total issuance value is expected to remain around USD 10-12 bn annually barring significant policy changes. The UAE\u2019s approval of a regulatory framework for stablecoins could encourage digital sukuk development, although it may take some time to become popularized.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New accounting + auditing standards are coming down the pipeline: <\/strong>The Accounting and Auditing Organization for Islamic Financial Institutions recently issued new standards for sukuk \u2014 known as Sharia Standard 62 \u2014 which will require the real transfer of underlying assets to investors. This transition to asset-backed sukuks changes the nature and risk of the market could mean higher costs, asset-related risks, and legal issues, potentially leading to fragmentation, issuance delays, or reduced issuance volumes until a middle ground is found. Feedback on the standard is due by 31 July, with the new standard expected to impact the market in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite potential disruptions from the new standards for sukuk, along with geopolitical risks, S&P maintains a<\/strong><strong> positive outlook on the sukuk market<\/strong> citing its stability through high foreign currency issuance and specific areas of growth in sustainable and digital sukuk. The intelligence firm expects global sukuk issuance to reach USD 160-170 bn by the end of 2024. <\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-vision-2030\/\">Saudi Vision 2030<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sukuk\/\">sukuk<\/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=\"87940\" 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=\"87940\">\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\">CABINET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/cabinet-approves-setting-up-national-program-for-mining\/\">\r\n                            Cabinet approves setting up national program for mining                        <\/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\/17\/cabinet-approves-setting-up-national-program-for-mining\/\" 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 meeting was chaired by Crown Prince and Prime Minister Mohammed bin Salman in Jeddah. No further details were provided on the programme, but it comes as the Kingdom ramps up investment in mineral exploration.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The Industry and Mineral Resources Ministry unveiled <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e05daf4b-eff6-4b06-997c-6fa072982e5e\" style=\"\" rel=\"noopener\">earlier this year<\/a> a fresh incentives package worth SAR 685 mn to boost mineral exploration in the Kingdom. The program was rolled out in collaboration with the Investment Ministry and aims to reduce early-stage risk for exploration companies. It comes as part of efforts to expand the sector and tap reserves of gold, phosphate and others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The policy context<\/strong>: The nation\u2019s untapped mineral resources are now worth as much as USD 2.5 tn, or 90% more than the last forecast in 2016, officials said <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/01\/10\/saudi-arabia-nearly-doubles-estimate-for-the-value-of-its-mineral-resources-.html\" style=\"\" rel=\"noopener\">earlier in January<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Historic Jeddah gets an extension:<\/strong> Cabinet also approved extending the <a target=\"_blank\" href=\"https:\/\/www.vision2030.gov.sa\/en\/projects\/jeddah-historic-district\/\" style=\"\" rel=\"noopener\">Historic Jeddah<\/a> development project for two additional years. The government aims to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f3f2ebb3-ffcd-458f-ad86-831289eed22a\" style=\"\" rel=\"noopener\">turn the area<\/a> into a global cultural and tourism attraction.<\/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\/cabinet-watch\/\">CABINET WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/historic-jeddah\/\">Historic Jeddah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mining\/\">mining<\/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=\"87942\" 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=\"87942\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/two-saudi-focused-etfs-make-debut-in-china\/\">\r\n                            Two Saudi-focused ETFs make debut in China                        <\/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\/17\/two-saudi-focused-etfs-make-debut-in-china\/\" 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\/17\/two-saudi-focused-etfs-make-debut-in-china\/')\">\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\/17\/two-saudi-focused-etfs-make-debut-in-china\/\">\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=Two Saudi-focused ETFs make debut in China&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/two-saudi-focused-etfs-make-debut-in-china\/\">\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\/17\/two-saudi-focused-etfs-make-debut-in-china\/&title=Two Saudi-focused ETFs make debut in China\">\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=Two+Saudi-focused+ETFs+make+debut+in+China+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F17%2Ftwo-saudi-focused-etfs-make-debut-in-china%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\/17\/two-saudi-focused-etfs-make-debut-in-china\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1307.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87943\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/two-saudi-focused-etfs-make-debut-in-china\/1307-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1307.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1307.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1307.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1307.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87942\" class=\"content-area-description single-story post-87942 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-agriculture tag-al-gihaz-holding tag-also-on-our-radar tag-alsulaiman-group-asg tag-capital-markets tag-circle-k-2 tag-energy tag-enterpriseam-ksa tag-entertainment tag-infrastructure tag-ma-watch tag-muvi tag-retail tag-saudi-space-agency tag-sisco-holding tag-tawzea tag-topian 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\/.aa2d477a-57b9-42eb-8eef-5376078fb22c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> China gets two new Saudi-focused ETFs: <\/strong>Two exchange-traded funds (ETFs) tracking Saudi stocks made their debut in Shanghai and Shenzhen yesterday, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-15\/two-etfs-focused-on-saudi-stocks-debut-in-shanghai-shenzhen\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rundown: <\/strong>The China Southern Asset Management CSOP Saudi Arabia ETF QDII listed in Shenzhen after raising CNY 634 mn (USD 87 mn) ahead of listing, while the Huatai-PineBridge CSOP Saudi Arabia ETF QDII listed in Shanghai after drawing in CNY 590 mn ahead of listing. They each <a target=\"_blank\" href=\"https:\/\/www.scmp.com\/business\/markets\/article\/3270611\/saudi-etfs-make-winning-china-debut-financial-ties-middle-east-strengthen\" style=\"\" rel=\"noopener\">hit the 10% daily limit<\/a> for first-day trading briefly before closing up nearly 8% with combined turnover of CNY 5 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What this means for trade relations:<\/strong> The launch of the two ETFs and their impact on trade relations between Riyadh and Beijing also earned airtime on Bloomberg (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-07-16\/china-saudi-arabia-ties-in-spotlight-with-etf-launches\" style=\"\" rel=\"noopener\">watch, runtime: 9:33<\/a>) The CSOP Saudi Arabia ETF tracks the FTSE Saudi Arabia Index and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d68a2eb6-2f0d-4eb4-a958-a4eb0595b96f\" style=\"\" rel=\"noopener\">launched last November<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new energy storage project in the works: <\/strong>Saudi investment company Al Gihaz Holding has signed an agreement with Chinese energy storage systems supplier <a target=\"_blank\" href=\"https:\/\/en.sungrowpower.com\/\" style=\"\" rel=\"noopener\">Sungrow Power Supply<\/a> for a 7.8 GWh energy storage project, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/chinas-sungrow-signs-deal-with-saudi-arabias-algihaz-energy-storage-project-2024-07-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing a statement from Sungrow. The project \u2014 which is slated for delivery this year \u2014 targets to boost the stability of the Kingdom\u2019s power grid. The value and location of the project were not disclosed.<\/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>Saudi-Spanish JV to develop water recycling project in Neom: <\/strong>A joint venture between the International Water Distribution Company (Tawzea) and Madrid-based contractor Lantania signed a contract with Neom to develop its Al Badaa Water Recycling Plant, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1260.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The contract, valued at SAR 316.2 mn, runs for 24 months starting 4Q 2024. Tawzea is a subsidiary of Tadawul-listed infrastructure and logistics investment firm Sisco Holding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The JV\u2019s scope of work will include the engineering, procurement, construction, testing, and commissioning activities at the Al Badaa Water Recycling Plant. It will also include development of an interim biosolids treatment facility, an interim innovation center, and a biosolids demonstration center. No further details were provided.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ENTERTAINMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More Imax screenings coming your way: <\/strong>Homegrown cinema chain Muvi signed an agreement with global cinema operator Imax Corp to add four Imax locations with laser systems in Saudi as part of their first-ever collaboration, according to a <a target=\"_blank\" href=\"https:\/\/www.imax.com\/en\/eg\/pr\/imaxr-and-saudi-arabias-muvi-cinemas-enter-partnership-first\" style=\"\" rel=\"noopener\">statement<\/a>. Riyadh will see two new Imax systems while Jeddah and Dhahran will see one each. Three of the locations are scheduled to open by the end of this year with the fourth following in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Imax currently has 10 operational locations in Saudi with plans to open 22 more under its partnership with Muvi, according to the statement. It aims to bring its operational locations to at least 50 across the Kingdom.<\/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>More Circle K-branded filling stations are coming to Saudi<\/strong>: Alsulaiman Group (ASG) signed an agreement with global convenience store chain Circle K to open a number of Circle K-branded fuel stations, according to a <a target=\"_blank\" href=\"https:\/\/www.moenergy.gov.sa\/ar\/MediaCenter\/News\/Pages\/CircleK-and-AlSulaiman-to-open-fuel-stations-in-Saudi.aspx\" style=\"\" rel=\"noopener\">statement by the Energy Ministry<\/a>. No details on the number of fuel stations or heir locations were disclosed. ASG is the franchisee of convenience store chain Circle K here and in the GCC.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>ASG <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e90b0c8a-850a-47b4-a92a-e647a2ce38a9\" style=\"\" rel=\"noopener\">wants to increase<\/a> the number of its Circle K branches in Saudi and the GCC to 300 by 2029 from a current 40. The plan includes opening locations in hospitals, universities, office buildings, and filling stations.<\/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\">SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A fresh framework agreement between Saudi-US on space: <\/strong>The Saudi Space Agency signed a \u201cstrategic\u201d cooperation agreement with Nasa to explore options for space cooperation, according to two separate statements (<a target=\"_blank\" href=\"https:\/\/ssa.gov.sa\/en\/newsItem\/?path=\/news\/3cc05\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.nasa.gov\/news-release\/nasa-signs-us-saudi-arabia-agreement-for-civil-aeronautics-space-collaboration\/\" style=\"\" rel=\"noopener\">here<\/a>). The MoU will focus on space and earth sciences, aeronautics, space missions, education, and others. It comes a few months after Nasa Administrator Bill Nelson visited Saudi for talks on future collaboration between Riyadh and Washington.<\/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\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh-based mining company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.agcest.com\/#:~:text=Al%20Haytham%20Mining%20Company%20has,Arabia%20as%20per%20Vision%202030.\" style=\"\" rel=\"noopener\">AGC<\/a><\/strong> <strong> is eyeing a stake in Egyptian <\/strong><strong><a target=\"_blank\" href=\"https:\/\/smrc.com.eg\/partners\/afaq-mining\/\" style=\"\" rel=\"noopener\">AFAQ Mining<\/a><\/strong>, which owns the rights to a concession in West Gabal Elbah, AGC Chairman Khalid Al Jahdali told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/companies\/48653\/%D8%A7%D9%84%D9%87%D9%8A%D8%AB%D9%85-%D9%84%D9%84%D8%AA%D8%B9%D8%AF%D9%8A%D9%86-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D8%B7%D8%B1%D8%AD-%D8%AD%D8%B5%D8%A9-%D9%85%D9%86-%D8%A3%D8%B3%D9%87%D9%85%D9%87%D8%A7-%D9%86%D9%87%D8%A7%D9%8A%D8%A9-2025\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> on the sidelines of the Egypt Mining Forum, without sharing any details about the exact size of the stake.<\/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\">AGRICULTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Topian and AK-Sens to work on new tech for palm trees infestation: <\/strong>Neom\u2019s food company Topian and Kaust-backed startup AK-Sens are collaborating to scale optical fiber sensing technology to enable early-stage detection of the red palm weevils posing a threat for Saudi\u2019s 36 mn palm trees, <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2550346\/saudi-arabia\" style=\"\" rel=\"noopener\">Arab News<\/a> reported. Initial trials were conducted by a team with a few trees in Tabuk before it expanded to include some 1k trees in Neom where they achieved a 96.3% accuracy in detection.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN PERSPECTIVE- <\/strong>Saudi\u2019s SAR 9.2 bn date industry loses an average of SAR 1 bn annually due to red palm weevil infestations, according to Topian.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Kingdom maintained its second ranking among G20 countries in the 2024 ICT <\/strong><strong>Development Index by the UN\u2019s International Telecommunication Union <\/strong>for a second consecutive year, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2139619\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported. Saudi\u2019s ICT market tops the region at SAR 166 bn along with 198% penetration rate of mobile subscriptions, according to the Communications, Space and Technology Commission.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the index: <\/strong>The ICT Development Index monitors the advancement of 170 countries in ICT services and digital infrastructure.<\/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\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-gihaz-holding\/\">Al Gihaz Holding<\/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\/alsulaiman-group-asg\/\">Alsulaiman Group (ASG)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/circle-k-2\/\">Circle-K<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/entertainment\/\">entertainment<\/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\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/muvi\/\">Muvi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/retail\/\">Retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-space-agency\/\">Saudi Space Agency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sisco-holding\/\">Sisco Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tawzea\/\">Tawzea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/topian\/\">Topian<\/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=\"87944\" 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=\"87944\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/everything-you-need-to-know-about-the-imfs-latest-world-economic-outlook-update\/\">\r\n                            Everything you need to know about the IMF\u2019s latest World Economic Outlook update                        <\/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 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       <\/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\/17\/everything-you-need-to-know-about-the-imfs-latest-world-economic-outlook-update\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1325.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87945\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/everything-you-need-to-know-about-the-imfs-latest-world-economic-outlook-update\/1325-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1325.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1325.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1325.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1325.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87944\" class=\"content-area-description single-story post-87944 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets tag-global-economy tag-imf tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.e3c5a2d9-c746-4777-9fa2-fbdec41920a4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> IMF holds global growth forecast steady: <\/strong>The International Monetary Fund maintained its 2024 global growth outlook at 3.2% in its updated <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1302.pdf\" style=\"\" rel=\"noopener\">World Economic Outlook (pdf)<\/a> and slightly upgraded its 2025 outlook to 3.3% \u2014 even as it downgraded its outlook for Saudi Arabia, as we note in this morning\u2019s news well, above. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where do major economies stand? <\/strong>Both the US and Japan saw their outlook slashed \u2014 the US saw its 2024 forecast trimmed 0.1 percentage points to 2.6% thanks to \u201ca sharper-than-expected slowdown in growth reflected moderating consumption and a negative contribution from net trade.\u201d The Fund sees the Japanese economy growing at a 0.7% clip this year, down 0.2 percentage points from April\u2019s forecast due to \u201ctemporary supply disruptions linked to the shutdown of a major automobile plant in the first quarter.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a different story for the Eurozone<\/strong>, which saw its 2024 growth revised upwards 0.1 percentage points to 0.9%, mainly driven by a more optimistic growth outlook for France and Spain. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also revised upwards<\/strong>, was growth in India and China \u2014 which accounted for close to half of global growth. The Fund sees the Chinese economy growing 5.0% in 2024 \u2014 a 0.4 percentage points upgrade from its April forecast \u2014 and India growing 7.0% after a 0.2 percentage points upwards revision, <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Words of wisdom for EMs: <\/strong>\u201cIn emerging markets and developing economies, recent policy divergences highlight the need to manage the risks of currency and capital flow volatility. Given that economic fundamentals remain the main factor in USD appreciation, the appropriate response is to allow the exchange rate to adjust, while using monetary policy to keep inflation close to target.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The inflation outlook: <\/strong>\u201cWe project global inflation will slow to 5.9% this year from 6.7% last year, broadly on track for a soft landing. But in some advanced economies, especially the United States, progress on disinflation has slowed, and risks are to the upside,\u201d IMF chief economist Pierre-Olivier Gourinchas said in a <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/Blogs\/Articles\/2024\/07\/16\/global-growth-steady-amid-slowing-disinflation-and-rising-policy-uncertainty\" style=\"\" rel=\"noopener\">blogpost<\/a>. <\/p>\n<p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed in early trading this morning<\/strong>, with the ASX 200 up, the Nikkei and Hang Seng flat, and both the Kospi and Shanghai Composite in the red. Futures for major US and European equities benchmarks were largely unchanged overnight. <\/p>\n<p><a target=\"_blank\" id=\"t.f7bf21ff29205930a0ee38c2585f25139e673347\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width: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\">12.080<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: +0.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,514<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: -2.4%)<\/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>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\">25,919<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +5.7%)<\/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\">6.0% 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-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>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,829<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +11.8%)<\/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\">9,156<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: -4.4%)<\/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\">4,110<\/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: +1.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,667<\/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: +18.8%)<\/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\">8,165<\/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: +5.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width: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\">4,948<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +9.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 83.73<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2.18<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,473<\/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 64,700<\/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\">+1.4% (YTD: +53.1%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI rose 1.1% yesterday <\/strong>on turnover of SAR 7.3 bn. The index is up 0.9% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Ayyan (+10.0%), AlSagr Ins. (+10.0%) and Miahona (+7.7%).<\/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%), East Pipes (-2.8%) and AlKhaleej Trng (-1.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong><strong> rose 0.3% yesterday <\/strong>on turnover of SAR 30.3 mn. The index is up 5.7% 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> Mayar (+19.7%), Armah (+7.9%) and Naba AlSaha (+6.6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> NBM (-9.2%), Edarat (-3,5%) and Molan (-3.4%)<\/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>Rump shares from Al Sagr Cooperative Ins.\u2019s rights issue will be offered to <\/strong><strong>institutional <\/strong><strong>investors at the minimum price set for the offering<\/strong>, the company said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoIwEEW_xQVbZnyA1R1GxfiIKDFgN6ZorSTQEqwS_96qK42v2c3MuXduBijEQCU7p4LpVEmWmX5N3Y3judgYEZz7w8YAF8NOb9Ef-HWctCB6BjAMHAMEs-YUl-ijC_QfPX4oD3_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!\/\" style=\"\" rel=\"noopener\">a filing to Tadawul.<\/a> The allocation period starts today and is set to run until tomorrow. This comes after the company\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/477be483-f481-47ae-9702-b998562321b0\/saudi-is-on-track-to-see-sar-2-bn-in-art-exports-by-year%25e2%2580%2599s-end\" style=\"\" rel=\"noopener\">rights issue<\/a> for a capital hike wrapped up on Sunday and was 89.8% subscribed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Shareholders of Al Sagr Cooperative Ins. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7fb22d13-ebab-45e4-86ba-384150a2c017\" style=\"\" rel=\"noopener\">approved last month<\/a> the board\u2019s recommendation to more than double its capital to SAR 300 mn through a rights issuance. Proceeds will allow Al Sagr to meet minimum capital requirements for ins. Companies.<\/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\/global-economy\/\">global economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/imf\/\">IMF<\/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=\"87946\" 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=\"87946\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/17\/crown-prince-discuss-bilateral-ties-with-us-senator-chris-van-hollen\/\">\r\n                            Crown Prince discuss bilateral ties with US Senator Chris Van Hollen                        <\/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\/17\/crown-prince-discuss-bilateral-ties-with-us-senator-chris-van-hollen\/\" 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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Van Hollen is a member of the US Senate Foreign Relations Committee. Neither Van Hollen\u2019s office nor the SPA offered more detail.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Egypt\u2019s Prime Minister Moustafa Madbouly stressed his government\u2019s keenness to <\/strong><strong>support Saudi investment in Egypt <\/strong>during a meeting with the Kingdom\u2019s new envoy to Cairo, Saleh bin Eid Al Husseini, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2140217\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported. He said Cairo was keen on following up with previous agreements, including a planned power grid between Saudi and Egypt and other renewable energy projects.<\/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\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-egypt-relations\/\">Saudi-Egypt relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-us-relations\/\">Saudi-US relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87948\" 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\/17\/87948\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87948\" class=\"content-area-description single-story post-87948 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>17 July (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/survey.rega.gov.sa\/s\/clyfksi4x002gkgdopx894lvp\" style=\"\">Real Estate Brokerage Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention and Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24 July (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>3 August (Saturday): Riyadh Season Card featuring <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ticketmaster.com\/event\/0A0060CAEAB64532\" style=\"\">Terence Crawford vs. Israil Madrimov<\/a><\/span><span style=\"font-weight:400;\">, Los Angeles BMO Stadium.<\/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>18-22 August (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sans.org\/cyber-security-training-events\/riyadh-cyber-leaders-2024\/\" style=\"\">SANS Riyadh Cyber Leaders August 2024<\/a><\/span><span style=\"font-weight:400;\">, Hyatt Regency Riyadh Olaya.<\/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>27 September (Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cafonline.com\/caf-super-cup\/news\/caf-president-dr-patrice-motsepe-and-he-turki-alalshikh-announce-riyadh-saudi-arabia-as-hosts-of-the-totalenergies-caf-super-cup-final-2024-as-part-of-riyadh-season-2024\/\" style=\"\">CAF Super Cup Final 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>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>IMF downgrades growth forecast. Aramco likes blue hydrogen. Goldman preps Middle East fund. Inflation cools a bit.<\/p>\n","protected":false},"featured_media":87924,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-87923","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"00433533-fc32-404a-b5be-83dccfb4653b","teaser":"IMF downgrades growth forecast. Aramco likes blue hydrogen. Goldman preps Middle East fund. Inflation cools a bit.","photo_url":"https:\/\/ent.news\/2024\/7\/121.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PIF\u2019s big renewable energy manufacturing play - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/pifs-big-renewable-energy-manufacturing-play\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PIF\u2019s big renewable energy manufacturing play\" \/>\n<meta property=\"og:description\" content=\"IMF downgrades growth forecast. Aramco likes blue hydrogen. Goldman preps Middle East fund. 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