{"id":87972,"date":"2024-07-21T00:00:00","date_gmt":"2024-07-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=87972"},"modified":"2025-12-14T18:35:08","modified_gmt":"2025-12-14T18:35:08","slug":"imfs-azour-welcomes-review-of-gigaprojects-says-it-is-natural","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/imfs-azour-welcomes-review-of-gigaprojects-says-it-is-natural\/","title":{"rendered":"IMF\u2019s Azour welcomes review of gigaprojects, says it is \u201cnatural\u201d"},"content":{"rendered":"<section id=\"87974\" 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=\"87974\">\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\/21\/flynas-cybersecurity-authority-among-those-hit-by-global-crowdstrike-glitch\/\">\r\n                            THIS MORNING: Flynas, cybersecurity authority among those hit by global CrowdStrike glitch                        <\/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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href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/flynas-cybersecurity-authority-among-those-hit-by-global-crowdstrike-glitch\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1555.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87975\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/flynas-cybersecurity-authority-among-those-hit-by-global-crowdstrike-glitch\/1555-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1555.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1555.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1555.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1555.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87974\" class=\"content-area-description single-story post-87974 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-cybersecurity tag-enterpriseam-ksa tag-flynas tag-foreign-trade tag-real-estate tag-saudization 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\/.ab6581b7-8a0a-4111-af54-75f90263c060.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, everyone. <\/strong>We have a packed issue for you this morning, so we\u2019re going to jump straight in:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a>  Saudi companies, airports, and government agencies were among the untold dozens of <\/strong><strong>institutions worldwide hit this weekend by what may be the world\u2019s largest IT outage. <\/strong>The National Cybersecurity Authority, Flynas, and several domestic airports were among joined their global peers in facing technical and operational disruptions on Friday they said in separate statements posted on X (<a target=\"_blank\" href=\"https:\/\/x.com\/flynas\/status\/1814387959971696773\" style=\"\" rel=\"noopener\">here<\/a>, <a target=\"_blank\" href=\"https:\/\/x.com\/NCA_KSA\/status\/1814409585349796250\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/x.com\/JedcoKSA\/status\/1814333783924973671\" 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>Not impacted here at home: <\/strong>The Saudi Central Bank Sama, the Saudi Data and AI Authority, and the Human Resources and Social Development Ministry were spared from the global computer crash, according to separate posts on the social media platform (<a target=\"_blank\" href=\"https:\/\/x.com\/SAMA_GOV\/status\/1814321045228110099\" style=\"\" rel=\"noopener\">here<\/a>, <a target=\"_blank\" href=\"https:\/\/x.com\/SDAIA_SA\/status\/1814301340731900030\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/x.com\/HRSD_SA\/status\/1814587585626361958\" 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>Blue Screens Of Death for everyone: <\/strong>A routine software update pushed by global cybersecurity firm <a target=\"_blank\" href=\"https:\/\/www.crowdstrike.com\/en-us\/\" style=\"\" rel=\"noopener\">CrowdStrike<\/a> to its Falcon Sensor software threw some 8.5 mn machines running Microsoft Windows into boot loops. Airlines and some other companies were particularly hard-hit: Microsoft\u2019s Azure platform <a target=\"_blank\" href=\"https:\/\/www.scmp.com\/tech\/big-tech\/article\/3271085\/microsoft-cloud-outage-grounds-hundreds-us-flights-tech-giant-restores-azure\" style=\"\" rel=\"noopener\">went down for some<\/a> late on Thursday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The irony: <\/strong>CrowdStrike bills itself as the fastest way for IT pros to detect threats to their infrastructure. It serves more than 29k major global companies and institutions, including more than half of the Fortune 1000. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who was impacted: <\/strong>Many airports and airlines around the world grounded flights and did manual paperwork. Some broadcasters were off air, hospitals canceled procedures, and banking services were offline in many countries, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2024-07-19\/crowdstrike-outage-reveals-global-it-fragility-leaving-airports-banks-paralyzed?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg reports<\/a>. Emergency services were also hit in some countries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The status now: <\/strong>Things are starting to unsnarl as technicians push out fixes, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/global-cyber-outage-grounds-flights-hits-media-financial-telecoms-2024-07-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> notes. Windows users who have been impacted have to reboot their machines and manually delete CrowdStrike\u2019s botched update \u2014 a process that requires hands-on access to each device, according to <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/366dbb65-f03c-4b31-a489-405b078268f4\" style=\"\" rel=\"noopener\">Financial Times<\/a>. It\u2019s a process that could take days for businesses with large fleets of impacted devices and not enough IT staff, experts told FT.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Y2K redux:<\/strong> The tech failure is now being described as <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fba9b61d-efcf-4348-b640-ccb1f9d18ced\" style=\"\" rel=\"noopener\">one of the biggest tech failures ever<\/a> and is <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/tech-outage-crowdstrike-microsoft-windows-7294e6c9356050cb095dad3353e9244c\" style=\"\" rel=\"noopener\">raising questions<\/a> about the fragility of the world\u2019s fundamental IT architecture. \u201cThis is basically what we were worried about with Y2K,\u201d cybersecurity expert Troy Hunt wrote in an <a target=\"_blank\" href=\"https:\/\/x.com\/troyhunt\/status\/1814205754880242032\" style=\"\" rel=\"noopener\">X<\/a> post Friday, \u201cexcept it\u2019s actually happened this time.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REGIONALLY-<\/strong> the failure <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/technology\/49017\/%D9%83%D9%8A%D9%81-%D8%AA%D8%B3%D8%A8%D8%A8-%D8%AE%D9%84%D9%84-%D8%AA%D9%82%D9%86%D9%8A-%D9%81%D9%8A-%D8%B4%D9%84-%D9%85%D9%81%D8%A7%D8%B5%D9%84-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85-%D9%85%D9%86-%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D8%A7%D8%AA-%D9%84%D9%84%D8%B7%D9%8A%D8%B1%D8%A7%D9%86\/\" style=\"\" rel=\"noopener\">impacted<\/a> some of electronic systems in the UAE and had a limited impact on flight operations.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> #1- The new <\/strong><strong>Saudization<\/strong><strong> rate for engineering comes into effect today<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2141781\" style=\"\" rel=\"noopener\">state news agency<\/a><a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2141781\" style=\"\" rel=\"noopener\">SPA<\/a> reported. The regulation, which was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5127975d-0e93-44ee-b602-2a26bc8e47a6\" style=\"\" rel=\"noopener\">announced in January<\/a>, stipulates that private companies employing five or more engineers must have Saudi citizens account for at least 25% of their engineering headcount<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The Human Resources and Social Development Ministry <a target=\"_blank\" href=\"https:\/\/prev.hrsd.gov.sa\/sites\/default\/files\/26122022.pdf\" style=\"\" rel=\"noopener\">first set<\/a> in 2020 a 20% Saudization target for engineering professions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- It\u2019s a law week by Monsha\u2019at: <\/strong>Small and medium enterprises regulator Monsha\u2019at will hold a series of events in Riyadh, Madinah, Jeddah, and Al Khobar to raise awareness about regulations for small businesses, according to a <a target=\"_blank\" href=\"https:\/\/www.monshaat.gov.sa\/ar\/node\/140462\" style=\"\" rel=\"noopener\">statement<\/a>. You can check out extra resources and workshops <a target=\"_blank\" href=\"https:\/\/www.monshaat.gov.sa\/ar\/node\/136208\" 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>WEATHER- It\u2019s going to be hot. But you know that\u2026 <\/strong>Riyadh will see a daytime high of 46\u00b0C and nighttime low of 32\u00b0C today. It\u2019s almost as hot in Makkah, where the mercury will peak at 45\u00b0C during the day before dropping to 33\u00b0C at night. Meanwhile, Jeddah, the coolest of the three, is looking at a high of 42\u00b0C and an overnight low of 31\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> <\/strong><strong>#1- Nomu-listed snacks-maker Fesh Fash has pulled the plug on its transition to <\/strong><strong>Tadawul\u2019s main <\/strong><strong>market<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoIwEEW_xQVbZnwU0R1GxfiIKDFgN6ZorSTQEqwS_96qK42v2c3MuXduBijEQCU7p4LpVEmWmX5NnQ3xHGyMXJz7w8YAF8NOb9Ef-HWctCB6BjAMiAGCWXOKS_TRAfqPHj-Uh7_19Cvit1-BNxHvwJcMY6AiU8njH55Mmq4AWvI9L3lpn0ozPmhdHLsWWlhVlS2UEhm3tyq38J3koI4a4mfyxt1c7iaa7Vh1yoyamlXB5CW85IkyhzqkTiDkEop8FWMa5JGrSdLyalcP_FKB\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MTM5Mi9jb21wYW55U3ltYm9sLzk1MTUvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> after falling short of liquidity requirements. It said it will reconsider a transition again after meeting requirements for the move.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dig deeper?<\/strong> While the company did not provide further details, the checklist for a transition from Nomu to Tadawul includes being on the parallel market for two years and having an average market cap of SAR 200 mn in the last six months ahead of an upgrade to the main market among others. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Need more background? <\/strong>You can find all the requirements for making the move to the main market from Nomu <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/rules-guidance\/capital-market-overview\/Equities\" 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>#2- The National Transport Safety Center is investigating a fire during the takeoff of a <\/strong><strong>Cairo-bound Nile Air flight from the King<\/strong><strong> Fahd International Airport in Dammam<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/NTSC_KSA\/status\/1813770552374661177\" style=\"\" rel=\"noopener\">statement on X<\/a>. All 186 passengers and eight crew members on board the Airbus A320 were safely evacuated. The fire reportedly originated in the aircraft\u2019s wheel system.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The Human Resources and Social Development Ministry is reportedly investigating <\/strong><strong>allegations that workers may have been mistreated <\/strong>by staff of e-commerce player Noon. The New York Times\u2019 <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/athletic\/5646814\/2024\/07\/19\/noon-saudi-arabia-newcastle-workers-rights\/\" style=\"\" rel=\"noopener\">The Athletic<\/a> has the story. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/dd046a54-2ffa-43ab-9af4-0ea52235cc6d\" style=\"\" rel=\"noopener\">Financial Times<\/a><\/strong> has a long take on the Kingdom\u2019s <strong>courting of foreign filmmakers<\/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\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Real estate brokerage law is already reaping fruit: <\/strong>The number of real estate transactions grew by 17% to 3.5 mn at a value of SAR 605 bn since the implementation of the real estate brokerage law in January of last year, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1741729\" style=\"\" rel=\"noopener\">Argaam<\/a> reported, citing statements by Real Estate General Authority CEO Abdullah Al Hammad. Residential transactions accounted for nearly half of total real estate sales during the period, up 18% to 2.9 million at a total value of SAR 305 billion.<\/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 rules, brokerage contracts, and the recording of transactions. The regulations were released in July 2022 and came into effect in January 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Saudi chemical exports dropped 14% y-o-y to SAR 5.8 bn in April 2024<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1741308\" style=\"\" rel=\"noopener\">Argaam<\/a> reported. The exports were also down 15% from March 2023. China was the top importer of Saudi chemical products in April, with imports totaling SAR 840 mn to account for 14.6% of total chemical exports. India followed with imports worth SAR 712.1 mn, while UAE came in third at SAR 495 mn. The Kingdom\u2019s imports of chemicals were up 10% y-o-y in April to SAR 6 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt4\"><\/a> Opec+ is likely to keep its oil output policy unchanged on Thursday, 1 August <\/strong>when its joint ministerial monitoring committee meets online, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-unlikely-change-oil-output-policy-aug-1-jmmc-meeting-sources-say-2024-07-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported, citing three unnamed sources. One of the sources said the meeting would be a \u201cpulse check\u201d for the market after the oil cartel agreed to an extension of cuts at its last meeting in June. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context-<\/strong> Opec+ <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/23b2bb82-242d-42f7-a587-6812413add07\" style=\"\" rel=\"noopener\">kept in place<\/a> last month current production cuts of 3.66 mn barrels per day (bbl \/ d) until the end of this September, before beginning to phase out the cuts of 2.2 mn bbl \/ d over the course of a year from October 2024 to September 2025.<\/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>Pierre-Emerick Aubameyang has joined newly promoted side Al <\/strong><strong>Qadsiah<\/strong>, with the Aramco-owned club tying down the former Arsenal, Dortmund, and Barcelona player to a contract that runs until 2026, according to a <a target=\"_blank\" href=\"https:\/\/www.alqadsiah.com\/newsdetails\/777\" style=\"\" rel=\"noopener\">statement<\/a>. Aubameyang is joining Al Qadsiah from Marseille after just one season with the French club. No details were provided on the transfer value or the player\u2019s wage, but <a target=\"_blank\" href=\"https:\/\/www.africanews.com\/2024\/07\/19\/aubameyang-signs-for-saudi-club-al-qadsiah\/\" style=\"\" rel=\"noopener\">media reports<\/a> have suggested that the Gabonese international signed with Al Qadsiah for a fee of EUR 9-10 mn with a salary of EUR 20 mn per season.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday before 7am Riyadh time \u2014 without charge, thanks to our friends at Cenomi.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big story this morning is unquestionably the global IT outage that\u2019s been compared <\/strong><strong>to the Y2K<\/strong> bug that worried IT pros a generation ago. We have the details above.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Calls for Joe Biden to bow out of the US presidential race continue to <\/strong><strong>gather steam <\/strong>as the octogenarian candidate remains <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-19\/will-biden-drop-out-of-2024-race-democrats-see-exit-as-inevitable?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">publicly defiant<\/a> in the face of media and party skepticism. Leaks in and out of Washington \u2014 including <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/politics\/2024\/07\/18\/obama-says-biden-must-consider-viability\/\" style=\"\" rel=\"noopener\">reports<\/a> that former president Barack Obama is now calling into question Biden\u2019s ability to win in November \u2014 reflect the Democratic Party\u2019s increasing concern with Biden\u2019s candidacy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What happens next? <\/strong>It\u2019s anyone\u2019s guess, but the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/07\/19\/us\/politics\/nancy-pelosi-joe-biden-drop-out.html\" style=\"\" rel=\"noopener\">New York Times suggests<\/a> that:<\/p>\n<ul>\n<li>Biden\u2019s advisors wouldn\u2019t want to give Benjamin Netanyahu the satisfaction of Biden dropping out before Netanyahu addresses the US Congress on Wednesday;<\/li>\n<li>Some are looking at possible dates and venues for Biden to announce he\u2019s not seeking a second term;<\/li>\n<li>Party grandees including former House speaker Nancy Pelosi favor an open primary where more than one potential candidate can put themselves forward as potential candidates.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN THE REGION- <\/strong><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/07\/20\/world\/middleeast\/israel-houthis-yemen.html\" style=\"\" rel=\"noopener\">Israeli jets struck Houthi targets<\/a> in Yemen and the International Court of Justice has ruled that <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6a60da92-5795-46c6-9175-2f425d3805d0\" style=\"\" rel=\"noopener\">Israel\u2019s occupation of Palestinian territory is unlawful<\/a> and that its actions and policies are \u201ctantamount to the crime of apartheid,\" the court said in its latest non-binding <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1514.pdf\" style=\"\" rel=\"noopener\">opinion (pdf)<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/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\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\/cybersecurity\/\">CYBERSECURITY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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<\/a>\r\n                    <span>The Luxury of Certainty<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87977\" 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=\"87977\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/imfs-azour-says-a-review-of-gigaprojects-is-both-welcome-and-natural\/\">\r\n                            IMF\u2019s Azour says a review of gigaprojects is both welcome and natural                        <\/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\/21\/imfs-azour-says-a-review-of-gigaprojects-is-both-welcome-and-natural\/\" 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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href=\"https:\/\/api.whatsapp.com\/send?text=IMF%E2%80%99s+Azour+says+a+review+of+gigaprojects+is+both+welcome+and+natural+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F21%2Fimfs-azour-says-a-review-of-gigaprojects-is-both-welcome-and-natural%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\/21\/imfs-azour-says-a-review-of-gigaprojects-is-both-welcome-and-natural\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1549.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87978\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/imfs-azour-says-a-review-of-gigaprojects-is-both-welcome-and-natural\/1549-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1549.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1549.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1549.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1549.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87977\" class=\"content-area-description single-story post-87977 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-ksa tag-gigaprojects tag-international-monetary-fund-imf 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\/.ff4ce3f7-27c4-41ed-abf1-1c171cf3972f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> A potential <\/strong><strong>recaliberation<\/strong><strong> of some of gigaprojects is getting a thumbs up from the IMF: <\/strong>The International Monetary Fund would welcome a downsizing or longer delivery time for some of the planned gigaprojects under Vision 2030, says Jihad Azour, the IMF\u2019s chief for the Middle East and Central Asia. Azour was speaking on Bloomberg\u2019s Horizons Middle East and Africa (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-07-18\/imf-s-azour-on-saudi-economy-regional-instability?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">watch, runtime: 7:13<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What he said: <\/strong>We are \u201calmost at a midpoint in the Vision 2030,\u201d Azour said, saying that \u201cthose recalibrations are part of the classical revision of any medium-term strategy.\u201d He said the IMF \u201cwelcomed \u2026 that the authorities have looked at their investment program and recalibrated some of those.\u201d The IMF said non-oil growth is being driven by increasing demand, the impact of structural reforms, and improving employment indicators, including a doubling of women\u2019s participation in the economy and a drop in unemployment. <\/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>BACKGROUND-<\/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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>Azour was speaking after the IMF cut its forecast for Saudi economic growth to 1.7% this year, down 0.9 percentage points from its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ade01bc1-2b8d-4dba-b4ed-405119b724c5\" style=\"\" rel=\"noopener\">earlier forecast of 2.6% in April<\/a>, as <a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/38d7a9ac-18f0-41ad-a4e6-56c1b6ccce7f\/\" style=\"\" rel=\"noopener\">we reported last week<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Production <\/strong><strong>cuts main<\/strong><strong> culprit <\/strong><strong>for IMF\u2019s<\/strong><strong> downgrade of Saudi\u2019s GDP growth: <\/strong>Azour said in the Bloomberg interview that the primary reason the fund\u2019s downgrade was the ongoing oil production cuts. \u201cWe had to revise technically the growth for the oil sector, and for the non-oil sector, I would say, the level of growth is still higher than the global growth. 3.7 percent is our expectation for the non-oil sector this year, and in the medium term, we expect the non-oil sector to grow at above 4 percent,\u201d he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Watch this space? <\/strong>Azour\u2019s remarks have been <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2552501\/business-economy\" style=\"\" rel=\"noopener\">picked up by Arab News<\/a>, the daily published by media giant SRMG, which has close ties to the government. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Speaking of the economy\u2026 <\/strong>Economy Minister Faisal Alibrahim discussed the state of play during a meeting with IMF Managing Director Kristalina Georgieva in Washington, <a target=\"_blank\" href=\"https:\/\/spa.gov.sa\/en\/N2141557\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported. They discussed global and regional economic developments and cooperation prospects between the Kingdom and the Washington-based lender.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gigaprojects\/\">Gigaprojects<\/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=\"87979\" 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=\"87979\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/aramco-wraps-up-a-usd-6-bn-bond-sale\/\">\r\n                            Aramco concludes a USD 6 bn int\u2019l bond sale                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/aramco-wraps-up-a-usd-6-bn-bond-sale\/\" 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 three-part issuance, which saw it raise a total of USD 6 bn in proceeds, will be listed on the London Stock Exchange as part of Aramco\u2019s global medium term note program.<\/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>A strong comeback: <\/strong>The sale marks the oil giant\u2019s return to the international debt market, ending a three-year break since it raised <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2021\/aramco-raises-$6-billion-through-the-worlds-largest-us-dollar-corporate-sukuk\" style=\"\" rel=\"noopener\">USD 6 bn<\/a> in a three-tranche sukuk issuance back in 2021. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Strong investor appetite: <\/strong>The offering was more than 6x oversubscribed in comparison to the original target of a USD 5 bn offering, suggesting there was demand for north of USD 30 bn worth of bonds. Demand was primarily driven by \u201ca diverse base of investment-grade focused institutional investors,\u201d according to the press release. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>Orders for the three-tranche bond offering by investors topped USD 31.5 bn, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9976843d-0022-47e2-b976-5cca651d18fc\/strong-demand-on-aramco%25e2%2580%2599s-first-bond-sale-since-2021\" style=\"\" rel=\"noopener\">luring in USD 11 bn<\/a> for each of the 10-year tranche and the 30-year tranche, with the 40-year tranche drawing in over USD 9.5 bn in demand. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yield + Maturity: <\/strong>The 10-year tranche will offer its holders an annual yield of 5.25%, that is at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9976843d-0022-47e2-b976-5cca651d18fc\/strong-demand-on-aramco%25e2%2580%2599s-first-bond-sale-since-2021\" style=\"\" rel=\"noopener\">105 basis points (bps) over US Treasuries<\/a>. Meanwhile, the 30-year tranche carries a yield of 5.75% at a 145 bps premium, and the 40-year tranche a yield of 5.875% at a 155 bps premium.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cOur order book exceeded USD 33 bn at its peak, reflecting Aramco\u2019s exceptional financial resilience and fortress balance sheet. Achieving a negative issue premium across all tranches is a testament to our unique credit proposition,\u201d Aramco Executive Vice President for Finance and CFO Ziad Al-Murshed said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- The spreads narrowed<\/strong> from initial guidance of 140 bps over US Treasures for the 10-year tranche and 180 bps and 195 bps for the 30-year and 40-year tranches, reflecting strong investor appetite, according to IFR, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-aramco-kicks-off-sale-three-part-bonds-ifr-reports-2024-07-10\/\" style=\"\" rel=\"noopener\">Reuters reported earlier<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money?<\/strong> Aramco will earmark <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9976843d-0022-47e2-b976-5cca651d18fc\/strong-demand-on-aramco%25e2%2580%2599s-first-bond-sale-since-2021\" style=\"\" rel=\"noopener\">the proceeds<\/a> of the bonds for \u201cgeneral corporate purposes\u201d and could include additional purposes in the final terms of the issuance, it said earlier. The proceeds could be used \u201cto refinance existing borrowings and contribute to its investment program,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-10\/saudi-aramco-kicks-off-first-dollar-bond-sale-in-three-years-lyfp19jw\" style=\"\" rel=\"noopener\">Bloomberg reported earlier<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Saudi Arabia had sold over <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6775f7ef-8df2-4b2a-946c-e6804e0bae96\/saudi-overtakes%253cmark%253e-china%253c%2Fmark%253e-as-the-top-borrower-in-global-emerging-markets\" style=\"\" rel=\"noopener\">USD 33 bn<\/a> worth of debt this year \u2014 topping China as the biggest issuer of international debt among emerging markets \u2014 to close its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/730d70af-1544-402a-a451-1b7b212ad097\/state%253cmark%253e-budget%253c%2Fmark%253e-closes-fy-2023-in-deficit\" style=\"\" rel=\"noopener\">SAR 81 bn budget deficit<\/a> from project spending. Recent debt sales include USD 5 bn worth of FCY-denominated sukuk with three-, six-, and 10-year tranches <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ad19ee86-4de4-4c73-b3bf-7ec13f7c8a2f\/gov%25e2%2580%2599t-kicks-off-sale-of-second-usd-denominated-sukuk-this-year\" style=\"\" rel=\"noopener\">in May<\/a>, and a USD 12 bn USD-denominated sovereign bond sale back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b4ed5269-180a-4a47-8c8e-71f65d28da02\/al-jadaan-on-reform,-taxation,-and-the-outlook-for-oil\" style=\"\" rel=\"noopener\">January<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Citi, Goldman Sachs International, HSBC, JP Morgan, Morgan Stanley, and SNB Capital were active joint bookrunners. Passive joint bookrunners for the issuance were Abu Dhabi Commercial Bank, Anb capital, Bank of China, BofA Securities, BSF Capital, Emirates NBD Capital Limited, First Abu Dhabi Bank, GIB Capital, Mizuho, Mufg, Natixix, Riyad Capital, SMBC Nikko, and Standard Chartered Bank.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/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\/london-stock-exchange\/\">London Stock Exchange<\/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=\"87981\" 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=\"87981\">\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\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/nearly-half-of-fund-managers-are-bullish-saudi-equities-survey-finds\/\">\r\n                            Nearly half of fund managers are bullish Saudi equities, survey finds                        <\/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\/21\/nearly-half-of-fund-managers-are-bullish-saudi-equities-survey-finds\/\" 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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Meanwhile, neutral views by investment fund managers for the quarter decreased to 44% from 48% while bearish views decreased to 9% from 11%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some 54% of managers plan to increase their exposure to Saudi equities<\/strong>, while 38% expect their exposure to remain \u201cbroadly unchanged.\u201d Managers are cutting their allocation to cash so they can load up on equities, SNB Capital noted, saying that 85% of respondents currently have cash at less than 10% of assets under management. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving appetite: <\/strong>The perception of that the market is undervalued, a sentiment held by 20% in 2Q up and just 11% in the preceding quarter.<\/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>Market drivers: <\/strong>Fund managers expect interest rates and inflation to remain key market drivers, with 85% of those surveyed forecasting one rate cut this year. Oil prices are projected to stay between USD 80-90 per barrel in line with current levels, according to the survey.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fund managers see the banking sector as a top performer this year<\/strong>, with the ins. sector next in line. The Kingdom\u2019s tourism industry is also viewed with optimism on the back of ongoing efforts by the government to boost tourist arrivals. Managers are less optimistic about healthcare than the previous quarter, but still expect it to be a source of IPO flow. The majority of fund managers see the petrochemicals sector as the weakest-performing sector this year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/snb-capital\/\">SNB Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87983\" 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=\"87983\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/pif-making-a-play-for-up-to-half-of-selfridges\/\">\r\n                            PIF offers GBP 1 mn to up stake in Selfridges to 50%                        <\/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\/21\/pif-making-a-play-for-up-to-half-of-selfridges\/\" 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\/21\/pif-making-a-play-for-up-to-half-of-selfridges\/')\">\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\/21\/pif-making-a-play-for-up-to-half-of-selfridges\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=PIF making a play for up to half of Selfridges&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/pif-making-a-play-for-up-to-half-of-selfridges\/\">\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\/21\/pif-making-a-play-for-up-to-half-of-selfridges\/&title=PIF making a play for up to half of Selfridges\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=PIF+making+a+play+for+up+to+half+of+Selfridges+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F21%2Fpif-making-a-play-for-up-to-half-of-selfridges%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\/21\/pif-making-a-play-for-up-to-half-of-selfridges\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1553.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87984\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/pif-making-a-play-for-up-to-half-of-selfridges\/1553-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1553.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1553.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1553.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1553.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87983\" class=\"content-area-description single-story post-87983 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-central-group tag-enterpriseam-ksa tag-ma-watch tag-public-investment-fund-pif tag-rene-benko tag-selfridges tag-signa 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\/.82a85b16-6c18-4113-9809-b27388484653.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 (PIF) has reportedly offered up to GBP 1 mn to take an <\/strong><strong>additional 40% stake of embattled UK department store Selfridges<\/strong> from Austria outfit Signa, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-20\/saudi-wealth-fund-offers-to-boost-its-stake-in-selfridges-to-50\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported yesterday, citing documents it says it has seen. The sovereign fund already owns a 10% stake in Selfridges. The remaining 50% of Selfridges is owned by Thai multinational retail conglomerate Central Group.<\/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>Ironing out the details: <\/strong>The PIF has offered to buy the remaining stake from Signa\u2019s flagship property unit, the documents showed, with the fund currently undergoing due diligence with advisors. It would also lower some of its claims against Signa as part of the potential agreement, according to the document. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Insolvency: <\/strong>Signa, which was founded by self-made bn\u2019aire Rene Benko, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/03\/07\/rene-benko-files-for-sole-trader-insolvency-after-signa-collapse-court.html\" style=\"\" rel=\"noopener\">declared insolvency<\/a> along with parts of the property empire last year. Benko himself filed for personal insolvency at an Austrian court earlier this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew a play for Selfridges was ongoing:<\/strong> Central Group was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1322a437-1d03-4cdf-9aab-af8cee0e376d\" style=\"\" rel=\"noopener\">reportedly in talks<\/a> with PIF as the Thai outfit looked to boost its Selfridges stake. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/central-group\/\">Central Group<\/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\/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\/rene-benko\/\">Rene Benko<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/selfridges\/\">Selfridges<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/signa\/\">Signa<\/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=\"87985\" 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=\"87985\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/acwa-power-sells-35-stake-in-2-wind-projects-in-uzbekistan\/\">\r\n                            Acwa Power offloads a 35% stake in 2 wind projects in Uzbekistan                        <\/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 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        <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/acwa-power-sells-35-stake-in-2-wind-projects-in-uzbekistan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/202.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87986\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/acwa-power-sells-35-stake-in-2-wind-projects-in-uzbekistan\/202-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/202.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"202.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/202.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/202.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87985\" class=\"content-area-description single-story post-87985 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-acwa-power tag-climate tag-energy tag-enterpriseam-ksa tag-ma-watch tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.bb0e6018-c8d0-4ff9-9f90-822e5eff3716.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa Power sells down its stake in Uzbek projects: <\/strong>Renewables giant Acwa Power has offloaded a 35% stake in its Bash and Dzhankeldy 1 GW wind projects in Uzbekistan to <a target=\"_blank\" href=\"https:\/\/zhaopin.csg.cn\/#\/index\" style=\"\" rel=\"noopener\">China Southern Power Grid<\/a> \u2019s global investment arm China Southern Power Grid International for <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNc4IwEP0tHjxqFh2R9kZ1ijh-o1W5OCGuwAwQJgSt_voG6dTRasdmcsi-vPf27RKXrIib0H3oUxnyhEaqXrv6pmXq0OgZMIbevAM6OJa-mBtat6GT5TXBGFo6TEfmdNxot8D6AOL-Sw_OpAXT98mwOYAZWKA_p4cHx3yiv3tNGZsvbZWg_2bZA7Np6O1bwp0Rb5r8nuFM-COkgwnpE9ePuFcu3Uy8puETV-AOBYp6LhQcSJlmr1WowuFwqPuc-xHWGY-rcE8S8EyS1TXzvK72w33YGlkKzHguGJKZj9JMEp4nDGNM5CDMZJdKSqaMsgAHuMdoQn0kTjEf3e7DjIusYJF1TSuwDJnkopva2x_kGHs8IuvinQq-zZmcH1MsAcmV_fc7VcZOeFKVBqUVFSy4cIv_UR57KLqe4hTQTvD4YkCL5KzIXYq0TZlA4qd0zmYlb6sUExQhVxlJGi8WKwjtmrU0ZG3d8U54fc1K5QsHssai\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF4Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMDgyL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMzkw\/\" style=\"\" rel=\"noopener\">SAR 596 mn<\/a> (c. USD 159 mn), Acwa said in a <a target=\"_blank\" href=\"https:\/\/www.acwapower.com\/news\/china-southern-power-grid-to-become-co-investor-in-acwa-powers-central-asia-project-en\/\" style=\"\" rel=\"noopener\">statement<\/a>. The total investment ticket for both projects \u2014 the <a target=\"_blank\" href=\"https:\/\/acwapower.com\/en\/projects\/dzhankeldy-wind-ipp\/\" style=\"\" rel=\"noopener\">500 MW Dzhankeldy wind farm<\/a> and the <a target=\"_blank\" href=\"https:\/\/acwapower.com\/en\/projects\/bash-wind-ipp\/\" style=\"\" rel=\"noopener\">500 MW bash wind plant<\/a> \u2014 is around USD 1.3 bn.<\/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>Acwa has bigger wind projects in the country: <\/strong>The company signed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/62676c26-816a-4cb1-848b-a3fcdcfb0611\/\" style=\"\" rel=\"noopener\">SAR 18.2 bn (c. USD<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/62676c26-816a-4cb1-848b-a3fcdcfb0611\/\" style=\"\" rel=\"noopener\">4.9 bn) power purchase agreement<\/a> with the National Electric Grid of Uzbekistan (Negu) to develop a new 5 GW wind farm \u2014 set to become the largest in Central Asia \u2014 in May. It also signed a SAR 985 mn (c. 262.6 mn) power purchase agreement to develop the 200 MW Nukus 2 wind project <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/6f03eacc-5556-4804-ab21-45ccccd9e2fb\/\" style=\"\" rel=\"noopener\">in April<\/a>, and a USD 2.4 bn agreement with the National Electric Grid of Uzbekistan for a 1.5 GW wind energy farm <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/37846de6-757b-496a-867b-33d1af966cd6\" style=\"\" rel=\"noopener\">in January<\/a> 2024. Acwa has a total of 15 projects in Uzbekistan for around USD 13.9 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hydrogen is on the list too: <\/strong>Acwa also began construction on its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/79d86a49-cccb-4a55-96c9-c4fcd6d1e0bd\/\" style=\"\" rel=\"noopener\">green hydrogen production<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/79d86a49-cccb-4a55-96c9-c4fcd6d1e0bd\/\" style=\"\" rel=\"noopener\">facility<\/a> \u2014 expected to be commissioned in December 2024 \u2014 in Tashkent last year. The plant will be connected to an existing ammonia production plant in Tashkent and will generate 3k tons of green hydrogen annually during its initial production phase. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/acwa-power\/\">ACWA power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/climate\/\">CLIMATE<\/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\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/renewables\/\">RENEWABLES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87987\" 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=\"87987\">\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\">REAL ESTATE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/home-ownership-is-on-the-rise\/\">\r\n                            Home ownership is on the rise in Saudi Arabia, beating a target set by the government for 2023                        <\/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\/21\/home-ownership-is-on-the-rise\/\" 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\/21\/home-ownership-is-on-the-rise\/')\">\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\/21\/home-ownership-is-on-the-rise\/\">\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=Home ownership is on the rise&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/home-ownership-is-on-the-rise\/\">\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\/21\/home-ownership-is-on-the-rise\/&title=Home ownership is on the rise\">\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=Home+ownership+is+on+the+rise+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F21%2Fhome-ownership-is-on-the-rise%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\/21\/home-ownership-is-on-the-rise\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1546.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87988\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/home-ownership-is-on-the-rise\/1546-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1546.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1546.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1546.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1546.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87987\" class=\"content-area-description single-story post-87987 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-enterpriseam-ksa tag-mortgage tag-real-estate tag-regulation-watch 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\/.5e274636-bc9e-41be-a184-e2680e5772a5.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The percentage of Saudi households that own a home in the Kingdom hit 63.75% last <\/strong><strong>year<\/strong>, beating the government\u2019s target of 63% for the year, according to the Housing Program\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1506.pdf\" style=\"\" rel=\"noopener\">annual report (pdf)<\/a>. The share of Saudi families owning homes is up 16.7 percentage points from 2016 \u2014 the year that marks the start of the Kingdom\u2019s economic diversification strategy.<\/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>Bringing it closer to 2030 targets:<\/strong> This puts homeownership closer to the 70% target for 2030, according to the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some snapshots:<\/strong> <\/p>\n<ul>\n<li>Over 96k families were provided with financial assistance to buy homes under the government\u2019s housing initiative Sakani;<\/li>\n<li>Over 20k families benefited from ownership options under the developmental housing program;<\/li>\n<li>Some 10.9k signed contracts for off-plan site sales;<\/li>\n<li>Refinancing in real estate financing portfolios has reached SAR 36.5 bn by the end of 2023 across 87 portfolios;<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How the gov\u2019t is doing it: <\/strong>The government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3b9bbf2a-2d55-4062-ac1d-9878060846b5\" style=\"\" rel=\"noopener\">has rolled out<\/a> several initiatives, including the Housing Ministry\u2019s Sakani program, zero-interest mortgages from the Real Estate Development Fund, and a lower tax of 5% on real estate sales, and a 2.5% tax on undeveloped land. PIF-owned Saudi Real Estate Refinance Company has acquired mortgages worth c. SAR 26.7 bn, representing 5% of local banks\u2019 mortgage lending book.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lots of pressure on developers: <\/strong>Developers need to ramp up supply to meet growing demand, as the country\u2019s population is on track to grow, with the share of expats rising to 50% from a current 42% by 2030, according to a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3b9bbf2a-2d55-4062-ac1d-9878060846b5\" style=\"\" rel=\"noopener\">recent report<\/a> by S&P Global. Riyadh is poised to see the fastest population growth, putting more pressure on the capital\u2019s already-tight real estate market, where \u201cnew supply will likely not meet the incremental demand.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mortgage\/\">mortgage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87989\" 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=\"87989\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/housing-ministry-rolls-out-new-building-regulations\/\">\r\n                            Housing Ministry rolls out new residential and commercial building regulations                        <\/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\/21\/housing-ministry-rolls-out-new-building-regulations\/\" 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\/21\/housing-ministry-rolls-out-new-building-regulations\/')\">\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\/21\/housing-ministry-rolls-out-new-building-regulations\/\">\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=Housing Ministry rolls out new building regulations&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/housing-ministry-rolls-out-new-building-regulations\/\">\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\/21\/housing-ministry-rolls-out-new-building-regulations\/&title=Housing Ministry rolls out new building regulations\">\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=Housing+Ministry+rolls+out+new+building+regulations+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F21%2Fhousing-ministry-rolls-out-new-building-regulations%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\/21\/housing-ministry-rolls-out-new-building-regulations\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1311.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87990\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/housing-ministry-rolls-out-new-building-regulations\/1311-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1311.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1311.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1311.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1311.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87989\" class=\"content-area-description single-story post-87989 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-construction tag-enterpriseam-ksa tag-housing tag-real-estate tag-regulation-watch 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\/.109e515d-2979-4d9f-b877-f437a3ac2f6b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The Municipal, Rural Affairs, and Housing Ministry has rolled out updated residential <\/strong><strong>construction regulations<\/strong> for villas, residential, commercial, and administrative buildings, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1261.pdf\" style=\"\" rel=\"noopener\">Residential Building Construction Requirements Regulation (pdf)<\/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>An overview<\/strong>: The guidelines cover general rules such as compliance with local regulations, parking standards, building facades, and setbacks \u2014 as well as specific guidelines for each type of residential and commercial buildings. They also mandate hiring only ministry-accredited engineers and contractors to carry out construction work.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bigger villas? <\/strong>The regulations allow for the building of additional basement floors for residential villas, increasing permissible building area for their ground and first floor to 75% from an earlier 70% or total land area. Floors in villas could also be divided into two separate residential units provided that a parking space is available for each unit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A focus on parking space: <\/strong>Each residential villa spanning an area of 400 sqm or less must provide a parking space within the residence, while bigger villas must provide two parking spaces. Multi-story residential buildings would also be allowed to use the ground floor for parking spaces without counting that in the total number of permitted floors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>The guidelines dovetail with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d798d78b-f319-4265-a143-ca4034288b51\/sharper-teeth-for%253cmark%253e-building-code%253c%2Fmark%253e-violations\" style=\"\" rel=\"noopener\">the draft regulations on building code violations<\/a> introduced by the government earlier this year. It aims to enforce building standards by categorizing violations and imposing penalties \u2014 such as fines or suspensions \u2014 on those who fail to adhere to the building code. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/construction\/\">Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/housing\/\">housing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87991\" 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=\"87991\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/al-ashghal-al-moysras-nomu-ipo-was-4-3x-covered\/\">\r\n                            Al Ashghal Al Moysra\u2019s Nomu IPO was 4.3x covered                        <\/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\/21\/al-ashghal-al-moysras-nomu-ipo-was-4-3x-covered\/\" 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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data-image-title=\"2412.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87991\" class=\"content-area-description single-story post-87991 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-al-ashghal-al-moysra tag-capital-markets tag-enterpriseam-ksa tag-ipo-watch tag-nomu tag-tadawul tag-yaqeen-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.2ccb4e27-7499-41af-bacb-53ea4643e523.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>C<\/strong><strong>ontractor Al Ashghal Al <\/strong><strong>Moysr<\/strong><strong>a\u2019s Nomu offering was 4.3x covered<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDBcoIwEIafpQeu7IIEaW9YNZ1WRyxtxVycYNPIFBIGYxnfvlEvMmO1e8vs9__fToBBBkzxn0JyU2jFS_tesnBF4hD9pwhndOyPcD6-H8yHI-rhSwCLLoBpQiyQTHsTfEWKIbD_5PGPifF2nnWRCxccgWuKqxLahzcL9M8UH48BhjgL6HQSeZQQSIWCZ2Cy1Pnp0zbG1A8OOmj4J293pWMta13VXO3TfZVrC3noBwc0VnkvksAa8SUa0bi7xi4P-e2xoG1bV2otS-HaAttzIbLRWwNZl4S6es-wSL7pIjJkGd_9AnwCzGM!\/dz\/d5\/L0lDU0lLVUtVSkNncFJDZ3BSQ2lDbEVLSUtVU0ovWUJVRUFBQUlJTUlFQUNJQ0tJS0lHT0JPQkdPSkZKRkdKTk5ETkRMSUVDTkhIUEhQTEhBb0VFSW9FTUEhLzRKQ2lqc1l1T0lRU2t5RkpOUlRrS2FhaG10MnN0bk5Uelc3V1d3V29wVlVZb0EhIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9BTk5PVU5DRU1FTlRfTlVNQkVSLzgxNDEzL2NvbXBhbnlTeW1ib2wvMTAyNC9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvYW5JZC9lbg!!\/\" style=\"\" rel=\"noopener\">a filing to<\/a><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDBcoIwEIafpQeu7IIEaW9YNZ1WRyxtxVycYNPIFBIGYxnfvlEvMmO1e8vs9__fToBBBkzxn0JyU2jFS_tesnBF4hD9pwhndOyPcD6-H8yHI-rhSwCLLoBpQiyQTHsTfEWKIbD_5PGPifF2nnWRCxccgWuKqxLahzcL9M8UH48BhjgL6HQSeZQQSIWCZ2Cy1Pnp0zbG1A8OOmj4J293pWMta13VXO3TfZVrC3noBwc0VnkvksAa8SUa0bi7xi4P-e2xoG1bV2otS-HaAttzIbLRWwNZl4S6es-wSL7pIjJkGd_9AnwCzGM!\/dz\/d5\/L0lDU0lLVUtVSkNncFJDZ3BSQ2lDbEVLSUtVU0ovWUJVRUFBQUlJTUlFQUNJQ0tJS0lHT0JPQkdPSkZKRkdKTk5ETkRMSUVDTkhIUEhQTEhBb0VFSW9FTUEhLzRKQ2lqc1l1T0lRU2t5RkpOUlRrS2FhaG10MnN0bk5Uelc3V1d3V29wVlVZb0EhIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9BTk5PVU5DRU1FTlRfTlVNQkVSLzgxNDEzL2NvbXBhbnlTeW1ib2wvMTAyNC9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvYW5JZC9lbg!!\/\" style=\"\" rel=\"noopener\">Tadawul<\/a>. The company has priced its shares <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7742e313-de49-4cab-892c-2b12a6d81f50\/contractor%253cmark%253e-al%253c%2Fmark%253e%253cmark%253e-ashghal%253c%2Fmark%253e-almoysra-sets-price-range-for-nomu-ipo\" style=\"\" rel=\"noopener\">at the<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7742e313-de49-4cab-892c-2b12a6d81f50\/contractor%253cmark%253e-al%253c%2Fmark%253e%253cmark%253e-ashghal%253c%2Fmark%253e-almoysra-sets-price-range-for-nomu-ipo\" style=\"\" rel=\"noopener\">top<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7742e313-de49-4cab-892c-2b12a6d81f50\/contractor%253cmark%253e-al%253c%2Fmark%253e%253cmark%253e-ashghal%253c%2Fmark%253e-almoysra-sets-price-range-for-nomu-ipo\" style=\"\" rel=\"noopener\">of the range<\/a> for SAR 50 a piece, which could see it raise up to SAR 24 mn in IPO proceeds, and give it a post-listing market cap of SAR 120 mn, according to our calculations.The subscription period for qualified investors wrapped up last week.<\/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>What\u2019s next?<\/strong> The final allocation of shares is set to take place today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The company is taking a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2e12d389-1c94-41f8-8dd6-4da8e5aa966f\/%253cmark%253e%253cmark%253eal%253c%2Fmark%253e%253c%2Fmark%253e%253cmark%253e-ashghal%253c%2Fmark%253e-almoysra-to-debut-20%2525-stake-on-nomu\" style=\"\" rel=\"noopener\">20% stake<\/a> to market in a secondary offering. Proceeds from the sale will go directly to the selling shareholders after some SAR 3.2 mn are used to cover IPO-related expenses. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- Yaqeen Capital <\/strong>is serving as the financial advisor and lead manager, while Al Rajhi Capital, Riyad Capital, Alinma Investment, AlJazira Capital, Alawwal Invest, Derayah Financial, Saudi Fransi Capital, SNB Capital, Alistithmar Capital, Albilad Capital, ANB Capital are all receiving agents.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-ashghal-al-moysra\/\">Al Ashghal Al Moysra<\/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\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nomu\/\">Nomu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tadawul\/\">Tadawul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/yaqeen-capital\/\">Yaqeen Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87993\" 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=\"87993\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/allianz-saudi-fransi-cooperative-ins-gets-new-ceo\/\">\r\n                            Allianz Saudi Fransi Cooperative Ins. appoints Abdulrahman Aldokheel as CEO                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/allianz-saudi-fransi-cooperative-ins-gets-new-ceo\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/allianz-saudi-fransi-cooperative-ins-gets-new-ceo\/')\">\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\/21\/allianz-saudi-fransi-cooperative-ins-gets-new-ceo\/\">\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=Allianz Saudi Fransi Cooperative Ins. gets new CEO&url=https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/allianz-saudi-fransi-cooperative-ins-gets-new-ceo\/\">\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\/21\/allianz-saudi-fransi-cooperative-ins-gets-new-ceo\/&title=Allianz Saudi Fransi Cooperative Ins. gets new CEO\">\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=Allianz+Saudi+Fransi+Cooperative+Ins.+gets+new+CEO+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F21%2Fallianz-saudi-fransi-cooperative-ins-gets-new-ceo%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\/21\/allianz-saudi-fransi-cooperative-ins-gets-new-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87993\" class=\"content-area-description single-story post-87993 post type-post status-publish format-standard hentry category-moves tag-abdulrahman-aldokheel tag-allianz-saudi-fransi-cooperative-ins tag-enterpriseam-ksa tag-moves 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\/.0813abc5-46b6-43f0-9a15-5bc525a9a152.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The board of Tadawul-listed Allianz Saudi Fransi Cooperative Ins. has appointed <\/strong><strong>Abdulrahman Aldokheel (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/abdulrahman-al-dokheel-6892071b\/\" style=\"\" rel=\"noopener\">Linkedin<\/a><\/strong><strong>) as its CEO effective today<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qCGId6BALsgxSxIpiSPHgdKvbx5IiBYqavngHc_Mzi5xyZq4CTuEPlOhSFhU1BvX2HaoAe2-CRPoL97AAMcylgtT67UNsrommCPLgNmYzibtbgesDyDuv_TgTDswe5-O9CHMwQLjMT3cOfSB_u41ZUKfu0WCwatlD6luGt2fhBsj_mjye4aK8EfIAXH9SHj1wmni6aZPXIl7lChbuSzgQKk0e2lAA47HY8sXwo-wxUXcgFuSQGSKrK-ZxMGkWlf37j5sjawkZiKXHMncR0WTROQJxxgTNQwz1WOKkRlnPMAhHjCaMh-JU87HdocwEzIrWWRTIhlyJWQvtXfn-hR7IqrfqRS7nKvFKcUaUKKwPr_TwtQJv4pKg9qISR5cuOX_OI89lD2PbNoltJcivhiwMjUvM9cibdvUqib4qZzKrObtCsUUZSjKhGm8XK4htJuud9L1mMamfn2P9OkbK6f_eg!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC84MDQwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxNDA4\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The appointment follows the resignation of outgoing CEO Anuj Agarwal (<a target=\"_blank\" href=\"http:\/\/linkedin.com\/in\/anuj-agarwal-33589715\" style=\"\" rel=\"noopener\">Linkedin<\/a>) earlier this month due to \u201cpersonal reasons,\u201d ending a three-year run in the position.<\/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>Aldokheel is an industry veteran<\/strong> who has previously held posts at MedGulf Saudi Arabia, Buruj Cooperative Ins., and Tawuniya.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/abdulrahman-aldokheel\/\">Abdulrahman Aldokheel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/allianz-saudi-fransi-cooperative-ins\/\">Allianz Saudi Fransi Cooperative Ins.<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"87994\" 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=\"87994\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/saudia-places-big-flying-taxi-order-for-private-aviation-arm\/\">\r\n                            Saudia places big flying taxi order for private aviation arm                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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                       <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1533.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87995\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/saudia-places-big-flying-taxi-order-for-private-aviation-arm\/1533-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1533.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1533.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1533.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1533.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87994\" class=\"content-area-description single-story post-87994 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-akasa-air tag-also-on-our-radar tag-arabian-international-healthcare-holding-tibbiyah tag-besix tag-china-state-construction-engineering-corp-cscec tag-dar-al-arkan tag-dar-global tag-enterpriseam-ksa tag-evtol tag-jadwa-investment tag-lilium tag-marafiq tag-miahona tag-mott-macdonald tag-national-housing-company tag-neo-space-group tag-nupco tag-saudi-public-transport-saptco tag-saudia tag-tikkaway tag-trump-organization tag-trump-tower 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\/.6fffb5b2-3ed1-4da1-8a92-9e5315b335d1.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- Saudia <\/strong><strong>makes largest<\/strong><strong> flying taxis order in the region: <\/strong>National carrier Saudia Group formalized an agreement with Germany-based air taxi developer Lilium to purchase up to 100 flying air taxis, according to statements by Saudia and Lilium (<a target=\"_blank\" href=\"https:\/\/www.saudia.com\/pages\/experience\/about-us\/corporate-communication\/press-releases-and-news\/press-releases\/press-release-18072024\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/lilium.com\/newsroom-detail\/saudia-group-signs-industry-leading-sales-agreement-with-lilium-to-acquire-up-to-100-evtol-jets\" style=\"\" rel=\"noopener\">here<\/a>). It signed a binding sales agreement for 50 aircraft with options for an additional 50. It\u2019s the largest reported firm order yet by an airline that plans to add the aircraft to its fleet, according to the statement. The framework agreement <a target=\"_blank\" href=\"https:\/\/lilium.com\/newsroom-detail\/lilium-partners-saudia\" style=\"\" rel=\"noopener\">was signed<\/a> in October 2022. No financial details were disclosed but Lilium Co-Founder Daniel Wiegand told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/saudia-signs-deal-buy-100-flying-shuttles-germanys-lilium-2024-07-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> that the value of the whole order was estimated at USD 700 mn.<\/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>Putting the flying air taxis to good use: <\/strong>The eVTOL jets will mainly be used to transport Hajj and Umrah pilgrims and travelers to sports and entertainment events in Riyadh, according to the statement. They will also be used to \u201cexplore hard-to-reach\u201d tourist destinations across the Kingdom among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>Saudia said it expects to receive the first jets in 2026 with the air shuttle\u2019s operations managed and run by its subsidiary Saudia Private, according to the statement. Its chief marketing officer Khaled Tash told Reuters that the first 50 planes are set to be delivered by 2029.<\/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>#2- Indian budget carrier Akasa Air will begin operating 12 direct flights weekly <\/strong><strong>connecting <\/strong><strong>Jeddah with Mumbai starting today<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.businesswire.com\/news\/home\/20240717836056\/en\/Akasa-Air-Commences-Operations-from-Jeddah-and-Strengthens-Its-Presence-in-the-Kingdom-of-Saudi-Arabia\" style=\"\" rel=\"noopener\">statement<\/a>. It marked its inaugural flight to Jeddah from Mumbai last week and launched two weekly direct flights connecting Jeddah with Ahmedabad yesterday. Saudi is Akasa Air\u2019s second international destination after Doha <a target=\"_blank\" href=\"https:\/\/twitter.com\/AkasaAir\/status\/1773357629827326221\" style=\"\" rel=\"noopener\">earlier this year<\/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\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.jadwa.com\/\" style=\"\" rel=\"noopener\">Jadwa Investment<\/a><\/strong><strong> has taken home a 60% stake in homegrown restaurant chain <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.instagram.com\/tikkaway_sa\/?hl=en\" style=\"\" rel=\"noopener\">Tikkaway<\/a><\/strong>, marking its first acquisition in the food and beverage sector here, according to a <a target=\"_blank\" href=\"https:\/\/jadwa.com\/en\/node\/24329\" style=\"\" rel=\"noopener\">statement<\/a>. The transaction was executed by the Riyadh-based investment firm\u2019s Jadwa Food and Beverage Opportunities Fund, the statement read, without disclosing details about its value. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>Tikkaway currently has 20 branches in Riyadh, Jeddah, Dammam and others with plans to double its branches to 40 across the Kingdom in the upcoming two years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Been there, done that: <\/strong>This is Jadwa Investment\u2019s second acquisition in the food and beverage sector after it acquired <a target=\"_blank\" href=\"https:\/\/www.jadwa.com\/en\/node\/23378\" style=\"\" rel=\"noopener\">late last year<\/a> Dubai-based food and beverage operator Blackspoon Group, owner of the Allo Beirut, an \u201call day Lebanese diner\u201d chain of restaurants, among others. Blackspoon has 10 branches and three brands, including its flagship Lebanese restaurant.<\/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\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Another Trump Tower in the Gulf: <\/strong>Dar Global, the international arm of Dar Al Arkan, signed an agreement with the Trump Organization to build a Trump Tower in Dubai, according to a <a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/dar-global-announces-third-collaboration-with-trump-organization-to-launch-iconic-trump-tower-dubai-in-2025-302200468.html\" style=\"\" rel=\"noopener\">statement<\/a>. The tower\u2019s design and location will be unveiled later this year, the statement read. It will now be owned or sold by the Trump Organization, but the name and mark will be used by Dar Al Arkan under license.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background- <\/strong>This is the Trump Organization\u2019s third venture in the region with Dar after the two companies <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/eee494ae-8a35-48d8-92ca-3ccf8069a7ac\" style=\"\" rel=\"noopener\">signed an agreement<\/a> to build a Trump Tower in Jeddah earlier this month and <a target=\"_blank\" href=\"https:\/\/www.omanobserver.om\/article\/1155550\/business\/tourism\/dar-global-launches-500-million-trump-international-oman\" style=\"\" rel=\"noopener\">unveiled a USD 500 mn<\/a> Trump International hotel project in Oman last month.<\/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>#2- More real estate projects with China:<\/strong> The National Housing Company signed an agreement with Chinese state-owned construction company China State Construction Engineering Corp (Cscec) to build 20k housing units across the Kingdom, it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/SaudiNHC\/status\/1813926290447380717\" style=\"\" rel=\"noopener\">post on X<\/a>. No further details were provided. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not Cscec\u2019s most recent venture here:<\/strong> Earlier this month, a consortium comprising local contractor El Seif Engineering Contracting and Cscec <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/64a3092f-481d-42dd-b513-9974e4c0ee54\" style=\"\" rel=\"noopener\">were awarded<\/a> a SAR 7.8 bn contract to develop a mixed-use district in the north of Diriyah. Construction work is set to begin starting Q3 this year.<\/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\">WASTEWATER MANAGEMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Marafiq joins Miahona, Besix to build water treatment project in Riyadh: <\/strong>Tadawul-listed Power and Utility Company for Jubail and Yanbu (Marafiq) is joining a consortium that includes Miahona and Besix to bulid a SAR 1.5 bn independent sewage treatment plant in Al Haer in Riyadh, according to two separate disclosures to Tadawul (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNc4IwEP0tPXjULFKR9pbWKer4hWhVLk6IKzIDhAlBan99QZxxtNqxmRyyL--9fbvEJUvixmwf-EwFImZhUa9cY92iBjS7JoyhO3sHAxzLmM9MrdM0yOKSYA4tA-wRtcfNdgusTyDuv_TgTFpgf0yG-gCmYIHxmB7uHPpAf_eSMqYv7SJB_83qDahuGu1rwo0Rr5r8nuFI-CNkn7h-KLxq4TT2dNMnrsQtSpSNTBbwTqkkfa1BDfI8b_hC-CE2uIhqcEuyE6kiy0smcTA-rqt9dx89jSwkpiKTHMnUR0XjWGQxxwhjNQhS1WGKEZszvsMB7jGcMB-JU87HNvsgFTItWWRVIilyJWQn6W1O9SHyRFi9Eyk2GVezQ4IVoERhfXonhakTfBeVBpURk3x35pb_oyzyUHY8snouoa0U0dmAlal5mbkSaeu6dmyCX8o5mlW8TaGYoAxEmTCJ5vMlBL266x10PaKRqV_enD79AHgu0oI!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMDgzL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMzgw\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNc4IwEP0tPXjULFKR9pbWKer4hWhVLk6IKzIDhAlBan99QZxxtNqxmRyyL--9fbvEJUvixmwf-EwFImZhUa9cY92iBjS7JoyhO3sHAxzLmM9MrdM0yOKSYA4tA-wRtcfNdgusTyDuv_TgTFpgf0yG-gCmYIHxmB7uHPpAf_eSMqYv7SJB_83qDahuGu1rwo0Rr5r8nuFI-CNkn7h-KLxq4TT2dNMnrsQtSpSNTBbwTqkkfa1BDfI8b_hC-CE2uIhqcEuyE6kiy0smcTA-rqt9dx89jSwkpiKTHMnUR0XjWGQxxwhjNQhS1WGKEZszvsMB7jGcMB-JU87HNvsgFTItWWRVIilyJWQn6W1O9SHyRFi9Eyk2GVezQ4IVoERhfXonhakTfBeVBpURk3x35pb_oyzyUHY8snouoa0U0dmAlal5mbkSaeu6dmyCX8o5mlW8TaGYoAxEmTCJ5vMlBL266x10PaKRqV_enD79AHgu0oI!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMDg0L2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxMzgx\/\" style=\"\" rel=\"noopener\">here<\/a>). Marafiq will take a 35% stake in the project, while Miahona is set to retain a 45% holding. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Marafiq\u2019s shareholders include the PIF<\/strong>, the Royal Commission for Jubail and Yanbu, Sabic, and Saudi Aramco Power Company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>The project is expected to hit financial close in Q3 2024 with operations expected to start in Q1 2027, according to Marafiq.<\/p>\n<p class=\"tag-border-left\">TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi Public Transport Company (Saptco) has been awarded a SAR 93 mn contract <\/strong><strong>to operate the public transport network in Al Ahsa<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MDQwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgxNDEx\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Saptco will operate the network connecting the cities of Al Mubarraz, Al Hofuf, Al Jafr and Al Amran in the governorate for five years.<\/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\">E-PAYMENTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A partnership with <\/strong><strong>Saudi Awwal Bank will see China-based UnionPay to grow its <\/strong><strong>footprint here in Saudi.<\/strong> The agreement will expand coverage of payments via UPI cards across stores, ATMs and online shopping websites. State-owned UnionPay is China\u2019s largest provider of bank card services. <\/p>\n<p class=\"tag-border-left\">REGIONAL HQ- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>British engineering and development consultancy <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.mottmac.com\/\" style=\"\" rel=\"noopener\">Mott Macdonald<\/a><\/strong><strong> has obtained a <\/strong><strong>regional headquarters license from <\/strong><strong>the Investment Ministry<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/mott-macdonald-receives-regional-headquarters-licence-in-saudi-arabia-j3mtrk20\" style=\"\" rel=\"noopener\">statement<\/a>. It secured the license after opening its new office in Riyadh in September, allowing it to \u201cexpand its business by continuing to engage directly with government entities\u201d in Saudi. It is among the first 40 British firms who have obtained such licenses from the ministry, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> Earlier this year, the government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ae469b11-e29f-4dd2-a4b0-f5c317c075f4\" style=\"\" rel=\"noopener\">rolled out tax incentives<\/a> for foreign companies that relocate their regional headquarters to the Kingdom \u2014 and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/38b098bf-b85e-4e3a-9248-233901e3bd1f\" style=\"\" rel=\"noopener\">state institutions are<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/38b098bf-b85e-4e3a-9248-233901e3bd1f\" style=\"\" rel=\"noopener\">helping with the push<\/a>. The incentives are part of a plan that is a cornerstone of Crown Prince and Prime Minister Mohammed bin Salman\u2019s drive to build a diversified, globally significant non-oil economy, and has been in the works since February 2021. Companies that don\u2019t declare Saudi their regional HQ run the risk of losing out on government contracts.<\/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>PIF-owned Neo Space Group (NSG) has obtained a permit to offer Earth observation <\/strong><strong>platform services in the Kingdom<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.cst.gov.sa\/en\/mediacenter\/pressreleases\/Pages\/2024071801.aspx\" style=\"\" rel=\"noopener\">statement<\/a> from the Communications, Space and Technology Commission. The permit awarded to NSG will allow it to establish and operate an electronic platform which it will use to collect and process earth observation data, including monitoring natural terrain, environmental pollution and weather. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the company:<\/strong> The new commercial satellite and space company was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/42545185-9858-4cc4-840e-94b34dd78545\" style=\"\" rel=\"noopener\">launched in May<\/a> with a focus on investments in localization, technology, start-ups, and knowledge in the space and satellite sector in the Kingdom.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/akasa-air\/\">Akasa Air<\/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\/arabian-international-healthcare-holding-tibbiyah\/\">Arabian International Healthcare Holding (Tibbiyah)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/besix\/\">Besix<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/china-state-construction-engineering-corp-cscec\/\">China State Construction Engineering Corp (Cscec)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/dar-al-arkan\/\">Dar Al Arkan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/dar-global\/\">Dar Global<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/evtol\/\">eVTOL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/jadwa-investment\/\">Jadwa Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/lilium\/\">Lilium<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/marafiq\/\">Marafiq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/miahona\/\">Miahona<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mott-macdonald\/\">Mott Macdonald<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-housing-company\/\">National Housing Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neo-space-group\/\">Neo Space Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nupco\/\">Nupco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-public-transport-saptco\/\">Saudi Public Transport (Saptco)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudia\/\">Saudia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tikkaway\/\">Tikkaway<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trump-organization\/\">Trump Organization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trump-tower\/\">Trump Tower<\/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=\"87996\" 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=\"87996\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/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\/21\/uaes-masdar-raises-usd-1-bn-in-its-second-green-bond-issuance\/\">\r\n                            UAE\u2019s Masdar raised USD 1 bn through the the region\u2019s latest green bond issuance                        <\/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\/21\/uaes-masdar-raises-usd-1-bn-in-its-second-green-bond-issuance\/\" 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=\"#\" 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href=\"https:\/\/api.whatsapp.com\/send?text=UAE%E2%80%99s+Masdar+raises+USD+1+bn+in+its+second+green+bond+issuance+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F07%2F21%2Fuaes-masdar-raises-usd-1-bn-in-its-second-green-bond-issuance%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\/21\/uaes-masdar-raises-usd-1-bn-in-its-second-green-bond-issuance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1535.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"87997\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/uaes-masdar-raises-usd-1-bn-in-its-second-green-bond-issuance\/1535-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1535.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1535.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1535.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1535.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87996\" class=\"content-area-description single-story post-87996 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-debt-watch tag-enterpriseam-ksa tag-financial-markets tag-green-bond tag-masdar 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\/.e84b3189-952b-400b-a394-74863a87cf0b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> UAE state-owned renewable <\/strong><strong>energy <\/strong><strong>developer Masdar has raised USD 1 bn in its second <\/strong><strong>green bond issuance: <\/strong>The issuance consisted of two tranches worth USD 500 mn each, with five- and 10-year tenors, carrying yields of 4.875% and 5.25%, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1515.pdf\" style=\"\" rel=\"noopener\">press release(pdf)<\/a>. The energy giant raised USD 750 mn last year in its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e06471aa-d27b-4f1a-b198-708557ab04a3\/%253cmark%253emasdar%253c%2Fmark%253e-draws-massive-interest-in-debut-green-bonds-sale,-securing-usd-4.2-bn-in-demand\" style=\"\" rel=\"noopener\">debut green bond sale<\/a>, which it listed on both the London Stock Exchange and the ADX.<\/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>We knew this was in the works: <\/strong>Masdar said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/643b1fa5-f941-4ced-8166-0af69a9eb9bf\/masdar-to-finance-central-asia-renewable-projects-with-second-green-bond\" style=\"\" rel=\"noopener\">in April<\/a> that it was planning to take a green bond issuance worth between USD 750 mn and 1 bn to market this year to secure funding for its renewable projects in Central Asia, specifically in Uzbekistan and Azerbaijan. This comes as part of a USD 3 bn bonds program aimed at funding clean energy initiatives in the UAE and globally. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The issuance saw strong demand,<\/strong> booking USD 4.6 bn in orders with a 4.6x oversubscription. Some 70% of the allocation went to international investors with the balance going to MENA investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS: <\/strong>Our friends at HSBC, along with Abu Dhabi Commercial Bank, Citigroup, Credit Agricole, First Abu Dhabi Bank (FAB), Mitsubishi UFJ Financial Group, Natixis, and Standard Chartered Bank acted as joint lead managers and bookrunners.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- The regional sustainable debt market has been on a tear this year:<\/strong> UAE\u2019s Sharjah government issued <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/269c7143-0865-448b-b617-ff4b76ffbdad\/sharjah-gov%25e2%2580%2599t-starts-selling-eur-500-mn-sustainability-bonds\" style=\"\" rel=\"noopener\">EUR 500 mn in sustainability bonds<\/a>, while Kuwait\u2019s Warba Bank issued <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ad695804-27d1-4f20-9ca0-916e3f73eed1\/kuwait%25e2%2580%2599s-warba-bank-kicks-off-a-usd-500-mn%253cmark%253e-green-bond%253c%2Fmark%253e-issuance\" style=\"\" rel=\"noopener\">USD 500 mn green sukuk<\/a>, and Qatar\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/34146101-b214-4c92-ad11-a1d683dd4b83\/%253cmark%253eqatar%253c%2Fmark%253e%25e2%2580%2599s-debut-usd-denominated-green-bonds-were-5.6x-oversubscribed\" style=\"\" rel=\"noopener\">USD 2.5 green bond<\/a> attracted USD 14 bn in orders. Al Rajhi also raised USD 1 bn from a 5-year sustainable sukuk sale <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f20a300f-1d96-436d-b13b-8f20933d0d63\/saudi-arabia%25e2%2580%2599s-al-rajhi-raises-usd-1-bn-from-5-year-sustainable-sukuk-sale\" style=\"\" rel=\"noopener\">in March<\/a>. Meanwhile, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/6209858f-276c-4900-a2ea-8b00b57a8c5d\/qatar%25e2%2580%2599s-qiib-lists-usd-500-mn-sustainable-sukuk-issuance-on-the-london-stock-exchange\" style=\"\" rel=\"noopener\">Qatar\u2019s QIIB<\/a> listed USD 500 mn sustainable sukuk issuance on the London Stock Exchange in January, and the UAE sovereign fund <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/11e6373f-1f5a-45e5-ba2f-6e480c9e1559\/mubadala%25e2%2580%2599s-usd-750-mn%253cmark%253e-green%253c%2Fmark%253e-bonds-see-secondary-listing-on-adx\" style=\"\" rel=\"noopener\">Mubadala<\/a> listed USD 4.5 bn and AED 750 mn green bonds on the ADX. <\/p>\n<p><a target=\"_blank\" id=\"t.3043af4020f863b9b4abfcd78b5f5a14d0d8ec99\" 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\">12,188<\/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: +1.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,527<\/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: -1.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width: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\">25,702<\/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: +4.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28,653<\/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: +15.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,246<\/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: -3.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,181<\/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: +3.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,505<\/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: +15.4%)<\/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>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\">8,156<\/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\">-0.6% (YTD: +5.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width: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\">4,827<\/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\">-0.9% (YTD: +6.8%)<\/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>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 82.63  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.9%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.13  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-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>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 2,447<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 67,061<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +59.2%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI rose 0.3% at Thursday\u2019s close <\/strong>on turnover of SAR 8.8 bn. The index is up 1.9% 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> Smasco (+6.3%), Saptco (+5.8%) and Teco (+5.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>AlBaha (-7.7%), Al Sagr Ins. (-6.2%) and Leejam Sports (-3.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong><strong> fell 0.7% at Thursday\u2019s close <\/strong>on turnover of SAR 39.6 mn. The index is up 4.8% 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> Munawla (+10.1%), Knowledge Net (+7.4%) and Ladun (+6.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Fesh Fash (-9.5%), Future Care (-6.6%) and Bena (-5.7%)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/green-bond\/\">green bond<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/masdar\/\">Masdar<\/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=\"87998\" 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\/21\/87998\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-87998\" class=\"content-area-description single-story post-87998 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>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\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>Saudi hit by CrowdStrike | Investors love Aramco\u2019s bonds | Fund managers bullish on Saudi equities | Home ownership on the rise<\/p>\n","protected":false},"featured_media":87973,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-87972","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"42f6d30a-e004-47d4-b7ae-8372ba63a5dc","teaser":"Saudi hit by CrowdStrike | Investors love Aramco\u2019s bonds | Fund managers bullish on Saudi equities | Home ownership on the rise","photo_url":"https:\/\/ent.news\/2024\/7\/961.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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