{"id":97737,"date":"2025-06-11T00:00:00","date_gmt":"2025-06-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=97737"},"modified":"2025-12-14T21:14:21","modified_gmt":"2025-12-14T21:14:21","slug":"gdp-growth-revised-up-to-3-4-in-1q-2025-plus-industrial-production-rises-in-april","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/gdp-growth-revised-up-to-3-4-in-1q-2025-plus-industrial-production-rises-in-april\/","title":{"rendered":"GDP growth revised up to 3.4% in 1Q 2025. PLUS: Industrial production rises in April"},"content":{"rendered":"<section id=\"97739\" 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=\"97739\">\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\/2025\/06\/11\/asian-companies-are-in-early-talks-to-list-on-tadawul-al-rumaih\/\">\r\n                            THIS MORNING: Asian companies are in early talks to list on Tadawul -Al Rumaih                        <\/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\/2025\/06\/11\/asian-companies-are-in-early-talks-to-list-on-tadawul-al-rumaih\/\" 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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Eid is over, and we\u2019re back in your inbox with a meaty issue that features revised 1Q growth figures and April\u2019s industrial production data from Gastat, reports on Aramco and Nigeria struggling to finalize USD 5 bn oil-backed loan, and plenty of updates from debt and IPO markets. Let\u2019s dive in.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.anmat.sa\/\" style=\"\" rel=\"noopener\">Anmat Tech<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.anmat.sa\/\" style=\"\" rel=\"noopener\">nology for Trading<\/a><\/strong><strong>\u2019s<\/strong><strong> shares will begin trading on the Nomu parallel<\/strong><strong> market <\/strong><strong>today<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-detail-wcm\/?newsId=8854&locale=en\" style=\"\" rel=\"noopener\">statement<\/a>. The company\u2019s shares will be allowed to fluctuate within a 30% band, with a static fluctuation band of 10% on the first three trading days. Starting from the fourth day, shares will be allowed to trade at a 10% volatility as circuit breakers take effect, and the static fluctuation limit will be removed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Anmat priced its offering at SAR 9.50 per share, with its 11.6% stake nearly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cdde062a-6b96-4906-8ce3-37b865dea7e4\/%253cmark%253eanmat%253c%2Fmark%253e-tech-sees-strong-investor-demand-ahead-of-listing-on-nomu\" style=\"\" rel=\"noopener\">3x<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cdde062a-6b96-4906-8ce3-37b865dea7e4\/%253cmark%253eanmat%253c%2Fmark%253e-tech-sees-strong-investor-demand-ahead-of-listing-on-nomu\" style=\"\" rel=\"noopener\">oversubscribed<\/a> by qualified investors, raising SAR 47.5 mn and valuing the company at SAR 408.5 mn at listing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong><strong> Riyadh <\/strong>is expected to see a high of 44\u00b0C and a low of 30\u00b0C today, while <strong>Jeddah\u2019s <\/strong>mercury will go as high as 35\u00b0C and as low as 26\u00b0C. <strong>Makkah <\/strong>will see a 46\u00b0C high and 32\u00b0C low.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>A three-<\/strong><strong>month midday work ban under direct sunlight will be enforced for private <\/strong><strong>sector <\/strong><strong>workers, effective Sunday, 15 June through Monday, 15 September<\/strong>, the Human Resources and Social Development Ministry said in a <a target=\"_blank\" href=\"https:\/\/x.com\/HRSD_SA\/status\/1932138009790701780\" style=\"\" rel=\"noopener\">post on X<\/a>. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/83b4eb7f-ed91-48cd-88b9-3e908372045f\/%253cmark%253ethe%253c%2Fmark%253e-rio-de-janeiro-iteration-of-davos-in%253cmark%253ethe%253c%2Fmark%253e-desert-begins-today#:~:text=Workers%20employed%20by%20the%20private%20sector%20will%20be%20prohibited%20from%20working%20under%20the%20sun%20between%2012pm%20and%203pm%20starting%20Saturday%2C%2015%20June%20until%20Sunday%2C%2015%20September\" style=\"\" rel=\"noopener\">yearly<\/a> three-hour daily ban (12pm-3pm) is a part of a broader policy to reduce occupational injuries and promote worker health amid rising temperatures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Propose<\/strong><strong>d reg<\/strong><strong>s for Licensing Energy Efficiency Service Providers are up for public <\/strong><strong>consultation on <\/strong><strong><a target=\"_blank\" href=\"https:\/\/istitlaa.ncc.gov.sa\/en\/Energy\/seec\/RegulationEEService\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Istitlaa<\/a><\/strong> <strong> until 8 July.<\/strong> Drafted by the Saudi Energy Efficiency Center, the <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/467.pdf\" style=\"\" rel=\"noopener\">regulation (pdf)<\/a> establishes two primary license types \u2014 a one-year temporary permit and a three-year full permit \u2014 for providing services like data review and energy auditing of buildings, energy efficiency project management, engineering design services for energy efficiency standards, and energy measurement and verification services.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a> #1- <\/strong><strong>Several Asian com<\/strong><strong>panies are in early talks to list on Tadawul as<\/strong><strong> the Kingdom explores <\/strong><strong>regulatory changes to attract foreign issuers<\/strong>, Tadawul Group\u2019s CEO Mohammed Al Rumaih told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/asian-companies-talks-list-saudi-arabia-exchange-ceo-says-2025-06-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> last week. The bourse is engaging with Asian firms keen to tap into the Kingdom\u2019s growing base of international investors, 15% of whom are now from Asia under the qualified foreign investor (QFI) program, Al Rumaih said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- The Capital Market Authority (CMA) has recently wrapped up consultations on <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7908da73-5a88-4f5e-aafd-8f85b7f239d2\/\" style=\"\" rel=\"noopener\">draft<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7908da73-5a88-4f5e-aafd-8f85b7f239d2\/\" style=\"\" rel=\"noopener\">rules<\/a><\/strong><strong> that would expand listing options and share structures<\/strong>, a move Al Rumaih described as a key step toward enabling cross-border participation. The announcement follows <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/fb4b2dae-549c-4116-9bfa-accbca719404\/\" style=\"\" rel=\"noopener\">recent discussions<\/a> with Hong Kong regulators to facilitate the listing of cross-border financial products.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A lot is in the pipeline: <\/strong>Tadawul is currently reviewing over 50 IPO applications, with 24 listings approved and pending, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1818944\" style=\"\" rel=\"noopener\">Argaam<\/a> reports, citing Al Rumaih as saying on the sidelines of the 2025 Capital Markets Forum held in Hong Kong earlier this month. That is on top of the 23 companies that have already debuted on the main and parallel markets so far this year, marking a 20% y-o-y increase, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The number of registered foreign investors now tops 4.1k<\/strong> and continues to rise weekly, Al Rumaih said. He also added that the exchange is working with regulators to roll out new financial instruments, including depository receipts, foreign company listing, and streamlined debt issuance tools.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- The CMA currently has 37 IPO requests under <\/strong><strong>review<\/strong>, with another 25 already approved but not yet listed, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1819260\" style=\"\" rel=\"noopener\">Argaam<\/a> reports, citing remarks made by CMA\u2019s Deputy for Market Institutions Raed Alrashed Alhumaid at the Argaam Summit in May,<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The watchdog said it is also revisiting the regulatory framework for foreign investment to ease qualifications and broaden the local market\u2019s investor base. This could include GCC residents receiving the same treatment as Saudi nationals when opening investment accounts, and residents who permanently leave the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> #2- <\/strong><strong>Another N<\/strong><strong>omu IPO gets cancelled: <\/strong>Khobar-based freight transportation company Al Khaldi Logistics pulled the plug on its Nomu offering last week and issued refunds to subscribers, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=87947&anCat=1&cs=1024&locale=en\" style=\"\" rel=\"noopener\">a disclosure<\/a> to Tadawul. The decision comes a little under a month after it set its IPO indicative price range at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/67890b4c-c9bb-49be-8fe0-6727eff2321d\/al-khaldi-prices%253cmark%253e-nomu-ipo%253c%2Fmark%253e-at-sar-44-47-apiece-%2B-adeer-offering-nearly-7x-oversubscribed\" style=\"\" rel=\"noopener\">SAR 44-47 per share<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The second cancellation this month: <\/strong>School operator Dome International also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1744b086-0071-4c8a-bd41-cae13cb0f2d2\/digital-bank-d360-is-reportedly-looking-for-investors-in-2h-2025-%2B%253cmark%253e-dome-%253c%2Fmark%253ecancels-nomu-ipo\" style=\"\" rel=\"noopener\">scrapped<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1744b086-0071-4c8a-bd41-cae13cb0f2d2\/digital-bank-d360-is-reportedly-looking-for-investors-in-2h-2025-%2B%253cmark%253e-dome-%253c%2Fmark%253ecancels-nomu-ipo\" style=\"\" rel=\"noopener\">plans<\/a> to sell a 14.53% post-IPO stake on the parallel market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Most of the recent Nomu debuts are still trading below their IPO prices:<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2658953d-3530-4378-8dc5-4eaa40aec217\/kingdom-holdings-is-reportedly-in-talks-to-acquire-a-stake-in-uk-based-global-airlines\" style=\"\" rel=\"noopener\">Axelerated Solutions<\/a> saw its share price fall 3% on its first trading day, while <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a3cc7b3a-e670-44c0-8e52-38689a7d0917\/pif-rumored-to-be-planning-project-paradise-%2B-budget-no-longer-driven-by-oil,-economy-minister-says\" style=\"\" rel=\"noopener\">Dkhoun National<\/a> dropped 19.8% at debut, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b63bd281-5bab-44ec-9de3-f40b974ca557\/opec%2B-to-barrel-ahead-with-more-hikes%3F\" style=\"\" rel=\"noopener\">Service Equipment Company<\/a> declined 10%. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5a4bd125-737f-46de-a4fb-7851a5e6713f\/future-vision-dips-over-5%2525-on-nomu%253cmark%253e-debut%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Future Vision for Health Training<\/a> also shed 5.3% on its first trading day. All of these companies are still trading below their IPO prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> #3- <\/strong><strong>Canada <\/strong><strong>inv<\/strong><strong>ited Crown Prince Mohamed Bin Salman to the G7 summit in Alberta<\/strong>, taking place between 15-17 June, <a target=\"_blank\" href=\"https:\/\/www.cbc.ca\/news\/politics\/mohammed-bin-salman-g7-1.7556077\" style=\"\" rel=\"noopener\">CBC<\/a> reports, citing two unnamed Canadian government sources. The Saudi embassy has not yet confirmed his attendance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who will be there?<\/strong> The forum will see the leaders of the US, Canada, France, Germany, Italy, Japan, and the UK gather next week to discuss political and economic matters. Leaders from several other non-G7 countries, including Australia, Brazil, India, South Africa, South Korea, and Ukraine, as well as the Secretary General of Nato, are also slated to attend.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt4\"><\/a> #4- <\/strong><strong>Saudi + I<\/strong><strong>LO embark on phase three of labor reforms initiative: <\/strong>The Kingdom and the International Labour Organization (ILO) signed a two-year agreement on Wednesday to implement the third phase of the joint Program of Cooperation, according to a <a target=\"_blank\" href=\"https:\/\/www.ilo.org\/resource\/news\/saudi-arabia-and-ilo-seal-new-phase-joint-work-advance-decent-work-reforms\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The program <\/strong><strong>focuses on improving labor rights and working conditions<\/strong>, with an emphasis on migrant and domestic workers, as well as developing institutional capacity. The ILO will establish a project team in Riyadh to support the implementation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some trade unions are alleging things could be better:<\/strong> A group of 36 African trade unions filed a complaint with the ILO demanding an inquiry into labor practices and abuses in the Kingdom, the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/saudi-arabia-2034-world-cup-labor-complaint-6be7770971e9e7825316bf9392f73071\" style=\"\" rel=\"noopener\">Associated Press<\/a> reports. The unions alleged a pattern of forced labor, wage theft, and other abuses.<\/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>#5- Hong Kong-based real estate PE fund manager <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.gawcapital.com\/\" style=\"\" rel=\"noopener\">Gaw Capital<\/a><\/strong><strong> is looking to focus on <\/strong><strong>real<\/strong><strong> estate assets in Saudi Arabia and the UAE<\/strong> as it ramps up its investments in the Middle East, Managing Principal and Global Head of Capital Markets Christina Gaw told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/hong-kong-based-gaw-capital-plans-step-up-middle-east-investments-2025-06-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. The firm is on track to finalize an undisclosed transaction in the region in 2H 2025 and is also planning to set up a dedicated vehicle for its ventures in the Middle East. Gaw Capital had USD 34.4 bn in AUM by the end of 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- <\/strong><strong>Azerbaijan is <\/strong><strong>looking to deepen its economic ties with the Kingdom by proposing a <\/strong><strong>joint sovereign investment fund<\/strong>, Azerbaijani Ambassador to Saudi Arabia Shahin Abdullayev told <a target=\"_blank\" href=\"https:\/\/english.aawsat.com\/business\/5152349-azerbaijan-proposes-joint-investment-fund-saudi-arabia-strengthen-economic\" style=\"\" rel=\"noopener\">Asharq Al Awsat<\/a>. The proposed fund, which followed recent high-level meetings, would support key sectors in both countries and back projects in other markets.<\/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-<\/strong> <strong>Some 1.67 mn<\/strong><strong> pilgrims took part in this year\u2019s hajj<\/strong>, nearly 160k fewer pilgrims than last year, according to <a target=\"_blank\" href=\"https:\/\/www.stats.gov.sa\/en\/w\/news\/49\" style=\"\" rel=\"noopener\">data<\/a> by the General Authority of Statistics (Gastat). Around 1.5 mn were foreign pilgrims, while 166.7k were citizens and residents. Some 1.44 mn pilgrims entered the Kingdom through airports, while 66.4k arrived by land and 5.1k by sea.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This year\u2019s Hajj drew the lowest number of pilgrims in three decades<\/strong> \u2014 excluding Covid-19 years, the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/saudi-arabia-hajj-pilgrims-arafat-5bf6f65b4ad0c53b69fc51589989a202\" style=\"\" rel=\"noopener\">Associated Press<\/a> reports. In 2024, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c2e36d5a-b9d3-4dd8-9959-6e34288965a0\/rasan-and-talco-see-shares-rise-sharply-in-tadawul-debut\" style=\"\" rel=\"noopener\">1.8 mn<\/a> pilgrims performed hajj, including 1.6 mn foreigners.<\/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- <\/strong><strong>The Saud<\/strong><strong>i Ports Authority\u2019s (Mawani) container volume rose 13% y-o-y in May 202<\/strong><strong>5 to <\/strong><strong>720.7k TEUs<\/strong>, with transshipments rising 12.9% y-o-y to 149.1k TEUs, it said in a <a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=70625\" style=\"\" rel=\"noopener\">statement<\/a> on Saturday. Imports grew 15.8% y-o-y during the month to 292.2k TEUs, while exports increased 9.4% y-o-y to 279.3k TEUs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total cargo mass rose 1.4% y-o-y in May to 21.3 mn tons<\/strong>, including 935.9k tons of general cargo, 5.1 mn tons of solid bulk, and 15.3 mn tons of liquid bulk. The ports also received some 1.6 mn heads of cattle, up 61.2% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Maritime traffic increased 9.4% y-o-y last month to 1.1k ships<\/strong>, with the number of passengers rising 68.2% y-o-y to 95.2k, while the number of vehicles rose 13.1% to 84.4k.<\/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>Opec\u2019s oil<\/strong><strong> ou<\/strong><strong>tput rose by a modest 150k bbl \/ d in May to reach 26.75 mn bbl \/ d<\/strong>, far below quota levels, according to a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-oil-output-may-rises-less-than-planned-reuters-survey-finds-2025-06-09\/#:~:text=The%20Organization%20of%20the%20Petroleum,Arabia%20making%20the%20largest%20increase.\" style=\"\" rel=\"noopener\">Reuters<\/a> survey. Saudi Arabia led with a 130k bbl \/ d increase but remained 100k bbl \/ d below its target.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Opec+ saw a lower increase in production levels, too:<\/strong> While five members of the larger Opec+ group were expected to raise output by 310k bbl \/ d, required <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/014571e4-ff50-4b11-a46e-49fd9c467cbe\/our-ipo-pipeline-proceeds-despite-tariff-uncertainty,-bloomberg-says\" style=\"\" rel=\"noopener\">compensation cuts<\/a> by Iraq, Kuwait, and the UAE brought the net increase to only 180k bbl \/ d.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Actual output gains have been harder to detect<\/strong>, despite a near 1 mn bbl \/ d quota increase between March and June, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-09\/opec-quota-hikes-yet-to-deliver-oil-surge-morgan-stanley-says\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing a note by Morgan Stanley. Saudi Arabia, in particular, does not appear to have ramped up production significantly, the note said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Morgan Stanley still expects core Opec+ supply to grow by around 420k bbl \/ d between <\/strong><strong>June and September<\/strong>, with half the increase likely to come from Saudi Arabia. Non-Opec+ producers are also on track to add 1.1 mn bbl \/ d this year, outpacing demand growth estimated at 800k bbl \/ d and prompting the bank to keep its surplus outlook. The result will be a softer oil market outlook after the summer period, the bank\u2019s analysts added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Saudi Aramco cut its official selling price for Arab Light crude to Asia by USD 0.20 <\/strong><strong>for July<\/strong>, its lowest since May \u2014 <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-arabia-cuts-july-oil-prices-asia-nearly-4-year-low-after-opec-supply-boost-2025-06-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The reduction came in below market expectations of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/589576b9-2869-464c-a103-a258da4498c7\/\" style=\"\" rel=\"noopener\">USD 0.30-0.45<\/a> cut, as Aramco appears to be balancing growing domestic demand with limited export availability.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A smaller-than-expected price cut could be partly attributed to increased crude burn in <\/strong><strong>the summer<\/strong>, Onyx Commodities research and analytics head Harry Tchilinguirian told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-04\/saudi-arabia-cuts-oil-prices-for-asia-as-opec-adds-more-barrels\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The actual volume of additional supply from the unwinding of voluntary cuts is likely to fall short of the 1.2 mn bbl \/ d headline due to these local consumption pressures, Tchilinguirian added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The oil giant also raised US-bound Arab Light prices by USD 0.10 per barrel<\/strong>, and hiked prices for all grades headed to Northwest Europe and the Mediterranean by USD 1.80 per barrel.<\/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>#1- Australia defeated Saudi Arabia 2-1 in Jeddah yesterday, <\/strong>securing qualification for the 2026 FIFA World Cup in North America. Abdulrahman Al Obud scored our only goal in the 19th minute, but we still needed a five-goal defeat to directly qualify for the championship.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>The Public Inv<\/strong><strong>estment Fund has become the official partner for the inaugural 32-team <\/strong><strong>FIFA <\/strong><strong>Club World Cup<\/strong>, taking place across 11 US cities from next Saturday, 14 June to 13 July, according to a <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/press-releases\/2025\/pif-and-fifa-forge-partnership-for-fifa-club-world-cup-2025\/\" style=\"\" rel=\"noopener\">joint statement<\/a> published on Thursday. The 63-match tournament will feature champions from all six FIFA confederations, with the final taking place at MetLife Stadium. All games will be streamed for free on <a target=\"_blank\" href=\"https:\/\/www.dazn.com\/ar-EG\/home\" style=\"\" rel=\"noopener\">Dazn<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Chilean pro-go<\/strong><strong>lfer Joaquin Niemann clinched his fourth individual win of the 2025 <\/strong><strong>Liv <\/strong><strong>Golf season at the US-based Robert Trent Jones Golf Club<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.livgolf.com\/news\/liv-golf-virginia-crushers-win-second-straight-niemann-wins-4th-of-season\" style=\"\" rel=\"noopener\">statement<\/a> from the PIF-backed Liv Golf. The 26-year-old lifted his sixth title to hold the record for the most individual wins in Liv Golf\u2019s history.<\/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>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> and  <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">climate<\/a>  industries?<\/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.<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 world\u2019s business papers are breathing a sigh of relief following news that the US and <\/strong><strong>China preliminary agreed to get their Geneva trade war truce back on track<\/strong>, following 20 hours of tense negotiations over the last two days in London. Although few details of the agreement have emerged, it is understood that the two world\u2019s two largest economies agreed to solve their differences over Chinese rare earth export restrictions and US tech export controls. The agreement now awaits the sign-off from Xi and Trump. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-10\/us-china-officials-say-consensus-reached-on-geneva-framework?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f5a904c2-1ba7-47b4-a506-b9db7e899704\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/economy\/trade\/u-s-and-china-agree-to-get-geneva-pact-back-on-track-695eb5f5?mod=hp_lead_pos2\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also headlining many of the world\u2019s digital front pages is wall-to-wall coverage of <\/strong><strong>anti-immigration raid protests in the US<\/strong>, which have now spread to two dozen cities across the country. Trump responded to the spreading protests by threatening to respond with \u201cequal or greater force\u201d to protestors in LA, who he described as \u201canimals.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>California Governor Gavin Newsom slammed Trump for taking a \u201cwrecking ball\u201d to the <\/strong><strong>norms of American democracy<\/strong> in a televised address criticising the deployment of military forces to LA as both illegal and unnecessary. \u201cCalifornia may be first, but it clearly will not end here. Other states are next. Democracy is next. Democracy is under assault. Before our eyes, this moment we have feared has arrived,\u201d Newsom said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"97741\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15542.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"97742\" 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=\"97742\">\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\/2025\/06\/11\/gdp-growth-revised-up-to-3-4-in-1q-2025\/\">\r\n                            GDP growth revised up to 3.4% in 1Q 2025                        <\/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\/2025\/06\/11\/gdp-growth-revised-up-to-3-4-in-1q-2025\/\" 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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On a quarterly basis, the economy saw growth of 1.1%, up from the 0.9% rise initially estimated.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil activity declined at a slower rate:<\/strong> Estimates for the decline in oil activities were revised to a 0.5% y-o-y decrease, an improvement from the previously estimated 1.4% drop, with the Kingdom\u2019s voluntary output cuts under the Opec+ agreement remaining the main driver of the decline. Oil activity also decreased by 1.2% on a quarterly basis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, non-oil activity saw a 4.9% increase on an annual basis<\/strong>, revised up from 4.2%, contributing the bulk of the Kingdom\u2019s headline expansion of 2.8 percentage points. Meanwhile, government activities remained unchanged at a 3.2% y-o-y grwoth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fastest growing sectors<\/strong> were wholesale & retail trade and restaurants and hotels at 8.4%, followed by transport, storage, and communication (6.0%), and finance, ins., and banking services (5.5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Gastat has recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/71c69877-056f-48da-a8c8-b58da122974c\/gastat-is-revising-our%253cmark%253e-gdp%253c%2Fmark%253e-figures\" style=\"\" rel=\"noopener\">updated<\/a> its nominal and real GDP historical data over 2011-2024 as part of a revision project that looks to better capture the economic transformation taking place in the Kingdom with more detailed insights over the performance of key sectors in the economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What changed?<\/strong> Gastat launched the revision project at the beginning of 2024, using updated survey data and new sources. The authority also said it adopted a chain-linking method in line with global standards to provide more accurate real GDP growth estimates.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> In April, The International Monetary Fund <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cd3b3dff-ad01-4594-9bf6-0a2097b65bd7\/%253cmark%253eimf%253c%2Fmark%253e-slashes-the-kingdom%25e2%2580%2599s-growth-prospects\" style=\"\" rel=\"noopener\">cut<\/a> its forecast for Saudi Arabia\u2019s GDP growth by 0.3 percentage points to 3% this year and by 0.4 percentage points to 3.7% in 2026, compared to its January estimates. The downward revisions reflect ongoing uncertainty around oil production levels and the pace of non-oil sector expansion.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/non-oil\/\">non-oil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil\/\">Oil<\/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=\"97744\" 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=\"97744\">\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\">MANUFACTURING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/industrial-production-rises-3-1-y-o-y-in-april\/\">\r\n                            Industrial production rises 3.1% y-o-y in April                        <\/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\/2025\/06\/11\/industrial-production-rises-3-1-y-o-y-in-april\/\" 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\/2025\/06\/11\/industrial-production-rises-3-1-y-o-y-in-april\/')\">\n         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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\/2025\/06\/11\/industrial-production-rises-3-1-y-o-y-in-april\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1233.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"97745\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/industrial-production-rises-3-1-y-o-y-in-april\/1233-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1233.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1233.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1233.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1233.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-97744\" class=\"content-area-description single-story post-97744 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-enterpriseam-ksa tag-industrial-production-index-ipi tag-industry tag-manufacturing 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\/2025\/6\/.df9234f9-d674-40aa-ae4e-248736c9bed0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>The Industrial<\/strong><strong> Production Index (IPI) rose 3.1% y-o-y in April<\/strong>, fueled by growth in mining and quarrying, manufacturing, and waste management activities, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/439.pdf\" style=\"\" rel=\"noopener\">preliminary data (pdf)<\/a> by the General Authority for Statistics (Gastat).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The main drivers:<\/strong> The increase was largely driven by a 7.4% y-o-y rise in manufacturing activity, with the manufacture of petroleum coke and refined petroleum products growing by 22.6% y-o-y, followed by chemical products at 9.1% growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mining and quarrying also saw a modest 0.2% y-o-y uptick<\/strong>, with oil production rising slightly to 9.01 mn bbl \/ d, up from 8.99 bbl \/ d in the same period last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The oil activities index increased 4.3% y-o-y in April, while the non-oil activities index edged up 0.1%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Non-oil business activity in the Kingdom grew at its slowest rate in eight months <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/24768221-8b7d-40e2-80f9-6a5122a41119\/%253cmark%253enon-oil%253c%2Fmark%253e-activity-grows-at-a-slower-rate-in-april-as-new-orders-slow-down\" style=\"\" rel=\"noopener\">in April<\/a>, primarily due to a drop in new order growth. The seasonally adjusted headline figure came in at 55.6 in April, dipping from a reading of 58.1 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/63479486-a164-4575-a8ac-7343e51d4393\/non-oil-private-sector-growth-slightly-slower-in-march\" style=\"\" rel=\"noopener\">in March<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Utilities showed diverging trends: <\/strong>The sub-index for electricity, gas, steam, and air conditioning supply activity fell 0.2% y-o-y, while the sub-index for water supply, sewerage, waste management, and remediation activities climbed 8.8% y-o-y.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/industrial-production-index-ipi\/\">Industrial Production Index (IPI)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"97746 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"97746\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/97746\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-97746\" class=\"content-area-description single-story post-97746 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1942.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"97747\" 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=\"97747\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/aramco-nigeria-struggle-to-finalize-usd-5-bn-loan-due-to-oil-volatility\/\">\r\n                            Aramco, Nigeria struggle to finalize USD 5 bn loan due to oil volatility                        <\/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\/2025\/06\/11\/aramco-nigeria-struggle-to-finalize-usd-5-bn-loan-due-to-oil-volatility\/\" 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\/2025\/06\/11\/aramco-nigeria-struggle-to-finalize-usd-5-bn-loan-due-to-oil-volatility\/')\">\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\/2025\/06\/11\/aramco-nigeria-struggle-to-finalize-usd-5-bn-loan-due-to-oil-volatility\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Aramco, Nigeria struggle to finalize USD 5 bn loan due to oil volatility&url=https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/aramco-nigeria-struggle-to-finalize-usd-5-bn-loan-due-to-oil-volatility\/\">\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\/2025\/06\/11\/aramco-nigeria-struggle-to-finalize-usd-5-bn-loan-due-to-oil-volatility\/&title=Aramco, Nigeria struggle to finalize USD 5 bn loan due to oil volatility\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Aramco%2C+Nigeria+struggle+to+finalize+USD+5+bn+loan+due+to+oil+volatility+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F06%2F11%2Faramco-nigeria-struggle-to-finalize-usd-5-bn-loan-due-to-oil-volatility%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\/2025\/06\/11\/aramco-nigeria-struggle-to-finalize-usd-5-bn-loan-due-to-oil-volatility\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/525.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"97748\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/aramco-nigeria-struggle-to-finalize-usd-5-bn-loan-due-to-oil-volatility\/525-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/525.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"525.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/525.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/525.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-97747\" class=\"content-area-description single-story post-97747 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-aramco tag-debt-watch tag-enterpriseam-ksa tag-oil-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\/2025\/6\/.f7e740d7-f435-41fd-94b0-af161b1adf52.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Nigeria and state-owned energy giant Aramco are struggling to finalize a record USD 5 bn <\/strong><strong>oil-backed loan agreement<\/strong>, in what would be the country\u2019s largest ever oil-backed loan, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/nigerias-5-bln-oil-backed-loan-aramco-delayed-by-oil-price-drop-say-sources-2025-06-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing four unnamed sources. The agreement is slowing on the back of a recent decline in crude oil prices, which has sparked concerns among banks that were expected to participate in the agreement, the sources told the newswire.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The banks \u2014 which reportedly include <\/strong><strong>Gulf banks and at least one African lender<\/strong> \u2014 are expected to fund part of the loan along with Aramco. \"It's hard to find anyone to underwrite it,\" one source told Reuters, citing concerns over the availability of the cargoes<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A<\/strong><strong> USD 5 bn loan would need to be backed by at least 100k bbl \/ d<\/strong>, the sources said. NPPC \u2014 Nigeria\u2019s state-owned oil company \u2014 is already using some 300k bbl \/ d to repay other oil-backed loans. The amount of oil used to pay the loans are fixed, which means lower crude prices would increase the time necessary for repayment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This would be the Kingdom\u2019s largest scale of participation in Nigeria\u2019s economy so far, <\/strong>but the recent decline in oil prices could lessen the size of the agreement, the sources said. The loan agreement was first put on the table by Nigerian president Bola Tinubu back in November during a meeting with Crown Prince Mohammed bin Salman in Riyadh at the Saudi-African Summit, two of the sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> In early <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b0064b8c-03ba-49ae-b942-683f2365bfc2\/flynas-cleared-for-ipo-%2B-trump-to-visit-the-kingdom-in-may%3F\" style=\"\" rel=\"noopener\">April<\/a>, Opec+ announced a long-delayed plan to gradually return <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d10a6888-f917-46cf-834b-20f67a5c60c3?shareType=nongift\" style=\"\" rel=\"noopener\">2.2<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d10a6888-f917-46cf-834b-20f67a5c60c3?shareType=nongift\" style=\"\" rel=\"noopener\">mn bbl \/ d<\/a> of oil to the market over 18 months, and then proceeded to accelerate these output hikes at triple the initially expected rate, with that last hike agreed on the group\u2019s meeting late last month. Goldman Sachs then <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/goldman-sachs-expects-oil-prices-decline-through-2026-2025-04-14\/\" style=\"\" rel=\"noopener\">expect<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/goldman-sachs-expects-oil-prices-decline-through-2026-2025-04-14\/\" style=\"\" rel=\"noopener\">ed<\/a> Brent crude to average USD 63 a barrel for the remainder of 2025, before dropping further to USD 58 in 2026, with JP Morgan showing similar <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-31\/opec-agrees-on-third-oil-supply-surge-to-deepen-price-slump\" style=\"\" rel=\"noopener\">forecasts<\/a> for prices potentially sinking to the \u201chigh USD 50s\u201d later this year.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil-watch\/\">oil 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=\"97749\" 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=\"97749\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/snb-raises-sar-1-73-bn-in-at1-sukuk-sale\/\">\r\n                            SNB raises SAR 1.73 bn in AT1 sukuk 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\/2025\/06\/11\/snb-raises-sar-1-73-bn-in-at1-sukuk-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 offering, which kicked off <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bc5f579f-2b32-43f1-9524-e104b6818202\/snb-extends-sar-5.8-bn-facility-to-areeb-capital,-launches%253cmark%253e-at1%253c%2Fmark%253e-sukuk-issuance\" style=\"\" rel=\"noopener\">in early May<\/a>, was open to both institutional and qualified investors in the Kingdom.<\/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>About the securities:<\/strong> The sukuk carry a 6% annual return until June 2030, after which the rate will reset every five years if not redeemed. The Islamic bonds can be redeemed early under certain conditions. Proceeds will help the lender shore up its financial buffers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>SNB Capital acted as the sole bookrunner, lead arranger, and lead manager on the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A record year already:<\/strong> Some USD 5.6 bn in AT1 bonds have been issued so far this year to strengthen liquidity and finance Vision 2030 projects, setting an annual record already and making the Kingdom the world\u2019s second-largest issuer this year, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-04\/saudi-banks-tap-at1-like-never-before-to-keep-gigaprojects-going\" style=\"\" rel=\"noopener\">Bloomberg<\/a> calculations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is against the backdrop of subdued oil revenues and a rising loans-to-deposits ratio<\/strong>, which hit 107% in April, Bloomberg cited data from the Saudi Central bank. \u201cThere are no longer sufficient deposits in the system to cover the loans, and the banks need to find other sources of funding,\u201d Nick Smallwood, an emerging markets portfolio manager at M&G Investments, told the business information service.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-national-bank-snb\/\">Saudi National Bank (SNB)<\/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=\"97751\" 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=\"97751\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/smc-prices-ipo-at-sar-25-per-share-ahead-of-tadawul-listing\/\">\r\n                            SMC prices IPO at SAR 25 per share ahead of Tadawul listing                        <\/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\/2025\/06\/11\/smc-prices-ipo-at-sar-25-per-share-ahead-of-tadawul-listing\/\" 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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This implies a total offering size of around SAR 1.9 bn and a market cap of SAR 6.3 bn at listing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The private healthcare provider is taking a 30% stake to market in a secondary offering. SMC\u2019s IPO retail subscription was pushed back to 15-16 June, with the final allocation of shares slated for Tuesday, 24 June. The company closed the institutional book for its IPO <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6599d639-2c24-4ade-baed-67b6e9067310\/\" style=\"\" rel=\"noopener\">late in May<\/a>, after identifying an inconsistency across financial disclosures and securing the retrieval of SAR 200 mn (USD 53 mn) in recently paid dividends.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One of the largest IPOs this year: <\/strong>While <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f4f6ee91-b44a-4044-a61a-5a77d9ef5659\/%253cmark%253eflynas%253c%2Fmark%253e%25e2%2580%2599-retail-offering-3.5x-covered,-set-to-be-largest-ipo-since-aramco\" style=\"\" rel=\"noopener\">Flynas\u2019 SAR 4.1 bn listing<\/a> is expected to secure the title for the biggest IPO in 2025, SMC\u2019s offering is poised to be the third-largest listing on the main market so far this year \u2014 landing between Umm Al Qura for Development\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6827bcfe-e4d5-405d-bfd4-90b626258217\/%253cmark%253eumm-al-qura%253c%2Fmark%253e-share-price-jumps-to-sar-19.50-on-tadawul-debut-%2B-net-income-up-57%2525-in-2024\" style=\"\" rel=\"noopener\">SAR 2 bn IPO<\/a> in March and Almoosa Health\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d265b15b-34a3-4277-938c-6669440b4575\/almoosa-health-prices-ipo-top-of-the-guidance-range\" style=\"\" rel=\"noopener\">SAR 1.7 bn debut<\/a> in January.<\/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 EFG Hermes are quarterbacking the transaction as joint financial advisors, underwriters, and bookrunners, alongside SNB Capital. SNB Capital is also serving as lead manager, with White & Case providing counsel to the issuer. Receiving agents include Al Rajhi Capital, BSF Capital, Alinma Investment, and Riyad Capital, among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO IN THE PIPELINE-<\/strong><\/p>\n<ul>\n<li><strong>Flynas <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/a638a1ef-2eb4-44a0-a949-095fc7211215\/non-oil-activity-slightly-accelerates-in-may,-backed-by-strong-new-order-growth\/f4f6ee91-b44a-4044-a61a-5a77d9ef5659\" style=\"\" rel=\"noopener\">wrapped up its final allocations<\/a> last week and is yet to ring the opening bell on Tadawul;<\/li>\n<li><strong>Companies that have yet to move to the step beyond receiving the CMA\u2019s approval include<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/72f5fb07-48d4-4728-aa16-5b4493066846\/nice-one%25e2%2580%2599s-two-day-retail-subscription-window-opens-today\" style=\"\" rel=\"noopener\">Ejada Systems<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c75bd9e4-491a-4125-98c9-5b6a1efda40f\/ev-maker-lucid-will-export-92%2525-of-its-production-%2B-cma-approves-ipos-on-tadawul,-nomu\" style=\"\" rel=\"noopener\">Marketing Home Group<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/07ff1274-1227-4bc4-ad24-e65a552987c6\/aramco-reportedly-acquires-primax,-expands-into-peru%25e2%2580%2599s-fuel-market\" style=\"\" rel=\"noopener\">Dar Al Majed<\/a> ;<\/li>\n<li><strong>Companies that tapped banks for potential IPOs include<\/strong> the PIF-backed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d0a3467a-abf0-4f2c-8d69-2b65e3040ff1\/pif%25e2%2580%2599s%253cmark%253e-saudi-global-ports%253c%2Fmark%253e-taps-banks-for-potential-ipo\" style=\"\" rel=\"noopener\">Saudi Global Ports<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8a3c56cc-ebf9-417c-8382-0816af5b9a75\/real-madrid-vs-barcelona-at-king-abdullah-sports-city-today\" style=\"\" rel=\"noopener\">Tabreed District Cooling<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1c55c7a4-ce77-4a0c-a7bd-1ad23a8256e0\" style=\"\" rel=\"noopener\">Medical procurement firm Nupco<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e94781b0-45da-48a8-afe3-89c2b6a7897a\/future-minerals-forum-kicks-off-today\" style=\"\" rel=\"noopener\">Riyad Capital<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2b55cbd6-eb2f-4596-8f56-69fabca00764\/%253cmark%253etabby%253c%2Fmark%253e-taps-advisors-for-potential-ipo-%2B-phytome-mulls-move-to-saudi\" style=\"\" rel=\"noopener\">BNPL platform Tabby<\/a> ;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/da4a0977-cdfd-49e8-8fec-7c6012175500\/al-ramz-real-estate-eyes-tadawul-ipo-before-year-end\" style=\"\" rel=\"noopener\">Alramz Real Estate<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c0fa5b7d-e56a-4950-a07a-d8ad1456d854\/teslas-will-be-available-for-sale-in-saudi-arabia-next-month\" style=\"\" rel=\"noopener\">Al Othaim Investment<\/a><\/strong> announced plans to float a 30% stake on Tadawul this year;<\/li>\n<li><strong>F&B players Barns, Half Million, Deemah, and Hashi Bashi<\/strong> are said to be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/03e87751-b8eb-41af-9041-b9414c742b39\/neom-to-confirm-aiman-al-mudaifer-as-ceo%3F\" style=\"\" rel=\"noopener\">sounding out banks<\/a> for potential debuts on the main market;<\/li>\n<li><strong>Almosafer<\/strong> is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6e69fe20-d984-43b1-9a85-3103ab156bcb\/non-oil-sector-in-the-kingdom-remains-resilient--fitch\" style=\"\" rel=\"noopener\">preparing<\/a> for a public listing on Tadawul by late 2025 or early 2026;<\/li>\n<li><strong>PIF-backed CloudKitchens<\/strong> is reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6e69fe20-d984-43b1-9a85-3103ab156bcb\/non-oil-sector-in-the-kingdom-remains-resilient--fitch\" style=\"\" rel=\"noopener\">eyeing an IPO<\/a> in the Kingdom or the UAE (or both);<\/li>\n<li><strong>Meal subscription startup Calo<\/strong> is also said to be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f6ab4e19-978b-4a59-9c3d-1bbaa1fddac1\/%253cmark%253ecalo%253c%2Fmark%253e-steps-into-uk-with-fresh-fitness-food,-detox-kitchen-acquisition.-plus:-cma-approves-al-rajhi%25e2%2580%2599s-sar-10-bn-debt-issuance\" style=\"\" rel=\"noopener\">eyeing an IPO<\/a> here at home by 2027.<\/li>\n<\/ul>\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\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/specialized-medical-company\/\">Specialized Medical Company<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"97753\" 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=\"97753\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/sports-clubs-to-divest-30-stake-on-tadawul\/\">\r\n                            Sports Clubs to divest 30% stake on Tadawul                        <\/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\/2025\/06\/11\/sports-clubs-to-divest-30-stake-on-tadawul\/\" 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\/2025\/06\/11\/sports-clubs-to-divest-30-stake-on-tadawul\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li 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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/sports-clubs-to-divest-30-stake-on-tadawul\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/523.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"97754\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/sports-clubs-to-divest-30-stake-on-tadawul\/523-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/523.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"523.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/523.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/523.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-97753\" class=\"content-area-description single-story post-97753 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-enterpriseam-ksa tag-fitness tag-ipo tag-ipo-watch tag-sports tag-sports-clubs-company 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\/2025\/6\/.0c73061d-239b-47b2-9755-1abf0cee0805.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Sport Clubs iss<\/strong><strong>ues prospectus for Tadawul IPO:<\/strong> Fitness chain operator <a target=\"_blank\" href=\"https:\/\/sportclubscompany.com.sa\/en\" style=\"\" rel=\"noopener\">Sport<\/a><a target=\"_blank\" href=\"https:\/\/sportclubscompany.com.sa\/en\" style=\"\" rel=\"noopener\">Clubs<\/a> is taking a 30% stake \u2014 good for 34.3 mn shares \u2014 to the main market Tadawul in a hybrid offering, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/430.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a>. Existing shares account for some 23.9 mn shares \u2014 representing 21% of post-IPO capital \u2014 while the remaining portion being newly issued shares. This comes <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/07ff1274-1227-4bc4-ad24-e65a552987c6\/aramco-reportedly-acquires-primax,-expands-into-peru%25e2%2580%2599s-fuel-market\" style=\"\" rel=\"noopener\">nearly three months after<\/a> the Riyadh-based firm secured approval from the Capital Market Authority (CMA) for the IPO.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big money goes in first: <\/strong>The company will announce its IPO price range on Sunday, 22 June, according to its <a target=\"_blank\" href=\"https:\/\/ipo.sportclubs.com.sa\/\" style=\"\" rel=\"noopener\">IPO webpage<\/a>, which will kickstart the institutional subscription period, set to run between 22-26 June. Large-scale investors will be able to book 100% of the offered shares, with each investor allowed to buy between 100k and 5.7 mn shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Retail investors will <\/strong><strong>have a 20% clawback<\/strong><strong> to subscribe to<\/strong> <strong>on Tuesday, 8 July<\/strong>, provided there is sufficient retail interest. They can subscribe to a maximum of 250k shares each and a minimum of 10. Final allocations will take place no later than Thursday, 10 July.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Post-IPO structure:<\/strong> Selling parties \u2014 including Special Opp. Investment, Diamond Opp. Sports, and Elaf Al Khaleej Commercial Investment \u2014 will retain a 56% post-IPO majority, down from 80%. Their shares will remain on lockup for 6 months from the first day of trading.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds:<\/strong> Sport Clubs will use 60% of the net primary offering proceeds to set up and equip new fitness clubs. It will direct 20% of the fresh capital to buy equipment, 16% to develop its existing facilities, and 4% to settle outstanding debts. The offering will cost the issuer SAR 25 mn in expenses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A snapshot of financial performance: <\/strong>The fitness company\u2019s bottom line was up 10.6 % y-o-y at SAR 25.1 mn in 2023, while its top line grew 1% y-o-y to SAR 270.6 mn in the same year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Risk factors: <\/strong>The company operates a network of 55 fitness-oriented real estate assets across the Kingdom, all leased from third-party landlords, exposing it to \u201cto risks associated with the termination of lease agreements by lessors or the inability to renew them.\u201d It also has 12 branches nationwide and a fully-owned subsidiary called Third Sports Amaken.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>BSF Capital is quarterbacking the transaction as lead manager, financial advisor, bookrunner, and underwriter. Kirkland & Ellis International is providing counsel. PwC is serving as financial due diligence advisor, Dr. Mohamed Al-Amri & Co. Chartered Accountants as auditor, and Portas Consulting MEA as market consultant.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Receiving agents<\/strong> include BSF Capital, Al Rajhi Capital, Albilad Investment, Riyad Capital, SNB Capital, ANB Capital, Derayah Financial, SAB Invest, and Alinma Investment, among others. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fitness\/\">fitness<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports-clubs-company\/\">Sports Clubs Company<\/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=\"97755\" 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=\"97755\">\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\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/acwa-powers-sar-7-bn-rights-issue-is-pending-shareholder-approval-plus-d360-bank-approves-sar-450-mn-capital-increase\/\">\r\n                            Acwa Power\u2019s SAR 7 bn rights issue is pending shareholder approval                        <\/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\/2025\/06\/11\/acwa-powers-sar-7-bn-rights-issue-is-pending-shareholder-approval-plus-d360-bank-approves-sar-450-mn-capital-increase\/\" 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\/2025\/06\/11\/acwa-powers-sar-7-bn-rights-issue-is-pending-shareholder-approval-plus-d360-bank-approves-sar-450-mn-capital-increase\/')\">\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\/2025\/06\/11\/acwa-powers-sar-7-bn-rights-issue-is-pending-shareholder-approval-plus-d360-bank-approves-sar-450-mn-capital-increase\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Acwa Power\u2019s SAR 7 bn rights issue is pending shareholder approval. PLUS: D360 Bank approves SAR 450 mn capital increase&url=https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/acwa-powers-sar-7-bn-rights-issue-is-pending-shareholder-approval-plus-d360-bank-approves-sar-450-mn-capital-increase\/\">\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\/2025\/06\/11\/acwa-powers-sar-7-bn-rights-issue-is-pending-shareholder-approval-plus-d360-bank-approves-sar-450-mn-capital-increase\/&title=Acwa Power\u2019s SAR 7 bn rights issue is pending shareholder approval. PLUS: D360 Bank approves SAR 450 mn capital increase\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Acwa+Power%E2%80%99s+SAR+7+bn+rights+issue+is+pending+shareholder+approval.+PLUS%3A+D360+Bank+approves+SAR+450+mn+capital+increase+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F06%2F11%2Facwa-powers-sar-7-bn-rights-issue-is-pending-shareholder-approval-plus-d360-bank-approves-sar-450-mn-capital-increase%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\/2025\/06\/11\/acwa-powers-sar-7-bn-rights-issue-is-pending-shareholder-approval-plus-d360-bank-approves-sar-450-mn-capital-increase\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/677.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"97756\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/acwa-powers-sar-7-bn-rights-issue-is-pending-shareholder-approval-plus-d360-bank-approves-sar-450-mn-capital-increase\/677-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/677.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"677.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/677.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/677.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-97755\" class=\"content-area-description single-story post-97755 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-acwa-power tag-capital-markets tag-debt tag-debt-watch tag-enterpriseam-ksa tag-public-investment-fund-pif tag-tadawul 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\/2025\/6\/.a78f3dbd-0565-465c-8004-8003f52a2507.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Acwa Power issu<\/strong><strong>es prospectus for its rights issue: <\/strong>Renewables giant Acwa Power plans to raise SAR 7.1 bn through a rights issue, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/364.pdf\" style=\"\" rel=\"noopener\">a preliminary prospectus (pdf)<\/a>. The move, pending shareholder approval, got the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1576e6fb-858e-4419-ac6f-acf7199aa410\/acwa-power-gets-the-green-light-for-sar-7.1-bn-rights-issue\" style=\"\" rel=\"noopener\">greenlight from the Capital Market Authority<\/a> late last month. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale: <\/strong>The move is part of the company\u2019s strategy to triple its AUM by 2030 and bolster its capital base. The Tadawul-listed, PIF-backed firm boasts a current capital of SAR 7.33 bn divided across 732.7 mn shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds: <\/strong>Some SAR 5.3-6 bn are earmarked for financing current and future projects. SAR 1.4 bn will be allocated to M&As, while SAR 351 mn will cover general business operations, and SAR 88.5 mn will cover offering expenses. Any unsubscribed shares will be sold to institutional investors in a rump offering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we don\u2019t know:<\/strong> Details on the number of shares and offer price are pending the approval of shareholders, reportedly set to vote on 30 June, according to <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1819297\" style=\"\" rel=\"noopener\">Argaam<\/a>. Meanwhile, information on the timeline of the offering and its trading debut is yet to be disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS: <\/strong>SNB Capital is the lead manager on the transaction while also acting as a financial advisor along with JP Morgan and Citigroup. The three banks are joined by Saudi Fransi Capital, FAB Capital, Emirates NBD Capital, and Natixis Saudi Investment as joint underwriters.<\/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\">IN OTHER CAPITAL MARKETS NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>D360 Bank\u2019s general assembly approved a capital increase of 27% to SAR 2.1 bn, raising <\/strong><strong>SAR 450 mn through a rights issue of 45 mn shares<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88020&anCat=1&cs=4084&locale=en\" style=\"\" rel=\"noopener\">a statement<\/a> by Tadawul-listed Derayah Financial. The capital raise will support further development of the bank\u2019s digital platform and operational infrastructure amid its expansion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Derayah \u2014 which holds a 20% stake in the bank\u2014 plans to subscribe to its portion of the <\/strong><strong>rights issue<\/strong>, investing SAR 90 mn from internal funds to offer its investment products to D360\u2019s client base in the consumer banking sector.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/acwa-power\/\">ACWA power<\/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\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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\/tadawul\/\">Tadawul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"97758\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/indias-jindal-saw-to-set-up-usd-13-mn-worth-of-steel-pipes-projects-in-the-kingdom\/519-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/519.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"519.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/519.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/519.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-97757\" class=\"content-area-description single-story post-97757 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-capital-market-authority-cma tag-cenomi-centers tag-enterpriseam-ksa tag-jindal-saw tag-kumulus-water tag-neom tag-saudi-german-health tag-saudi-ports-authority tag-sedco-capital tag-sumou-real-estate tag-tam-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\/2025\/6\/.e51f0164-60b7-4b0e-a99e-60d59a373cd2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INVESTMENT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> I<strong>ndian p<\/strong><strong>ipes m<\/strong><strong>anufacturer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.jindalsaw.com\/index.php\" style=\"\" rel=\"noopener\">Jindal Saw<\/a><\/strong><strong> will funnel <\/strong><strong>USD 13 mn<\/strong><strong> into Saudi <\/strong><strong>Arabia to <\/strong><strong>establish two joint ventures<\/strong>, after raising its capital expenditure plans for the MENA region, <a target=\"_blank\" href=\"https:\/\/www.cnbctv18.com\/market\/stocks\/jindal-saw-share-price-to-invest-118-million-in-uae-and-saudi-arabia-for-pipe-manufacturing-expansion-19618156.htm\" style=\"\" rel=\"noopener\">CNBCTV18<\/a> reports. The company will hold a 51% majority stake in both JVs through its subsidiary Jindal Saw Holdings FZE.<\/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>Meet the projects: <\/strong>The first project is a USD 10 mn helically spiral welded (HSAW) pipe plant, set to be built within two years in partnership with Buhur for Investment. The second project is a USD 3 mn ductile iron pipe facility, set to be delivered within 12 to 18 months through a JV with RAX United Industrial Company.<\/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\">MARITIME-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Automated ST<\/strong><strong>S cranes arrive at Port of Neom:<\/strong> Saudi Arabia\u2019s Port of Neom received its first remote-controlled ship-to-shore (STS) and electric rubber-tyred gantry cranes, according to a <a target=\"_blank\" href=\"https:\/\/www.neom.com\/en-us\/newsroom\/port-of-neom-strengthens-role-in-global-supply-chain-connectivity\" style=\"\" rel=\"noopener\">statement<\/a> released last week. The cranes will facilitate the port\u2019s automation strategy and its goals for a future-ready workforce model, allowing operators to manage equipment from secure and comfortable environments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Hassan Allam Construction Saudi was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/f90b3b1d-41a0-4710-98d7-52469f8435f7\/hassan-allam-construction-saudi-will-develop%253cmark%253e-neom%253c%2Fmark%253e%25e2%2580%2599s-container-terminal\" style=\"\" rel=\"noopener\">awarded a contract<\/a> to develop Port of Neom\u2019s Container Terminal 1. The terminal\u2019s development continues apace for its 2026 opening, the <a target=\"_blank\" href=\"https:\/\/www.neom.com\/en-us\/newsroom\/port-of-neom-strengthens-role-in-global-supply-chain-connectivity\" style=\"\" rel=\"noopener\">statement<\/a> added. Recent construction works include deepening the port channel to 18.5 meters to enable the world\u2019s largest vessels transiting the Suez Canal to call at Port of Neom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">RETAIL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/centers.cenomi.com\/\" style=\"\" rel=\"noopener\">Cenomi<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/centers.cenomi.com\/\" style=\"\" rel=\"noopener\">Centers<\/a><\/strong><strong> received a long-term <\/strong><strong>credit rating of A- and a short-term rating of<\/strong><strong> T-3 <\/strong><strong>from <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.tassnief.com\/English\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Simah Rating Agency<\/a><\/strong><strong> (Tassnief), with a stable outlook<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=87973&anCat=1&cs=4321&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The rating points to low credit risk and reflects the company\u2019s solid performance with high visitor numbers and occupancy rates, as well as a diverse tenant base, the disclosure said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Cenomi Centers signed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7ba2efd2-1029-4e72-8383-2398f6a36f3a\/unified-attorney-fee-contract-rolled-out-via-nafith-platform#:~:text=RETAIL%2D-,Cenomi%20to%20rebrand%20malls%20as%20Westfield,-%3A%20Cenomi%20Centers\" style=\"\" rel=\"noopener\">last Month<\/a> a 10-year franchise agreement with France-based Unibail-Rodamco-Westfield to bring the Westfield brand to its shopping centers in the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CONSTRUCTION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sumou Re<\/strong><strong>al Estat<\/strong><strong>e to develop Sedco Capital Sumou Al Muqarr project in Madinah: <\/strong>Sumou Real Estate landed a SAR 562.5 mn contract from Sedco Capital Sumou Al Muqarr Fund \u2014 represented by Jawharat Al Ghura Real Estate Development \u2014 to develop the infrastructure and superstructures for the 268.8k sqm Sedco Capital Sumou Al Muqarr project in Madinah, Somou said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=87964&anCat=1&cs=4323&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> last Wednesday. The contract will span 24 months after the Real Estate General Authority issues the necessary permits.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Sumuo Investment and Sedco Capital partnered in February to launch <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7a0a6501-5f5d-4042-96f8-c2cf7d0f4e93\/sedco-capital,%253cmark%253e-sumou%253c%2Fmark%253e-investment-to-launch-sar-8-bn%253cmark%253e-real%253c%2Fmark%253e%253cmark%253e-estate%253c%2Fmark%253e-funds\" style=\"\" rel=\"noopener\">five real<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7a0a6501-5f5d-4042-96f8-c2cf7d0f4e93\/sedco-capital,%253cmark%253e-sumou%253c%2Fmark%253e-investment-to-launch-sar-8-bn%253cmark%253e-real%253c%2Fmark%253e%253cmark%253e-estate%253c%2Fmark%253e-funds\" style=\"\" rel=\"noopener\">estate investment funds<\/a> totalling over SAR 8 bn to support infrastructure, mixed-use towers, and multi-purpose developments in Riyadh, Jeddah, Makkah, and Madinah.<\/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\">FINANCIAL SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kuwait-<\/strong><strong>based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/tam-capital.com\/\" style=\"\" rel=\"noopener\">TAM Capital<\/a><\/strong><strong> received final approval from the Capital Market <\/strong><strong>Authority (CMA) to<\/strong><strong> begin operating in the securities sector<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3812.aspx\" style=\"\" rel=\"noopener\">statement<\/a> published last Wednesday. The license, which was preliminary issued in October 2024, allows the company to carry out investment management, operate investment funds, and offer arranging services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Riyadh-based asset manager <\/strong><strong><a target=\"_blank\" href=\"https:\/\/aditum-capital.com\/\" style=\"\" rel=\"noopener\">Aditum Capital<\/a><\/strong><strong> received the green light from the <\/strong><strong>CMA to<\/strong><strong> begin operating in the securities sector<\/strong>, specifically managing investments and running investment funds, according to a separate CMA <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3811.aspx\" style=\"\" rel=\"noopener\">statement<\/a> issued. The company was officially licensed by the authority on 27 February.<\/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\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi P<\/strong><strong>orts Authority (Mawani) added SeaLead\u2019s WARM Shipping Service to <\/strong><strong>Jeddah <\/strong><strong>Islamic Port<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=50625\" style=\"\" rel=\"noopener\">statement<\/a> on Thursday. The new service, which has a handling capacity of up to 600 TEUs, links the Jeddah port to the Nhava Sheva and Mundra ports in India and the Alexandria port in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Mawani has recently added two new Sealead shipping services<\/strong>, including <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9bbeee63-1804-4096-a9e0-e471965f0a00\" style=\"\" rel=\"noopener\">5CX<\/a> with a 1.5k standard container capacity and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4409e1ea-5993-4780-b8ab-065e88fe1d4e\" style=\"\" rel=\"noopener\">RESIN<\/a> with a 1k standard container capacity.<\/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\"> IPO WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ANB Ca<\/strong><strong>pital <\/strong><strong>received the green<\/strong><strong> light from the Capital Market Authority (CMA) for the <\/strong><strong>public offering of its Saudi Nomu Market Fund<\/strong>, the authority said in a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3810.aspx\" style=\"\" rel=\"noopener\">statement<\/a> last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> Emirates NBD Capital KSA lined up the CMA\u2019s approval for the public offering of its ENBDC Saudi Equity Freestyle Fund, according to a separate CMA <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3809.aspx\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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\/capital-market-authority-cma\/\">Capital Market Authority (CMA)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cenomi-centers\/\">Cenomi Centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/jindal-saw\/\">Jindal Saw<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/kumulus-water\/\">Kumulus Water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neom\/\">NEOM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-german-health\/\">Saudi German Health<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-ports-authority\/\">Saudi Ports Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sedco-capital\/\">Sedco Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sumou-real-estate\/\">Sumou Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tam-capital\/\">TAM 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=\"97759\" 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=\"97759\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/societe-general-becomes-first-bank-to-launch-usd-backed-stablecoin\/\">\r\n                            Societe General becomes first bank to launch USD-backed stablecoin                        <\/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\/2025\/06\/11\/societe-general-becomes-first-bank-to-launch-usd-backed-stablecoin\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                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wp-post-image\" alt=\"\" data-attachment-id=\"97760\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/societe-general-becomes-first-bank-to-launch-usd-backed-stablecoin\/509-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/509.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"509.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/509.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/509.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-97759\" class=\"content-area-description single-story post-97759 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-banking tag-crypto tag-enterpriseam-ksa tag-financial-markets tag-planet-finance tag-regulation 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\/2025\/6\/.685f92d7-7fd8-45c6-9d98-fd06b6c4a052.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> France\u2019s Societe General will be the first bank to launch a USD-backed stablecoin that <\/strong><strong>will be publicly traded<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/societe-generale-launch-dollar-pegged-stablecoin-2025-06-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing a <a target=\"_blank\" href=\"https:\/\/www.sgforge.com\/usd-stablecoin-bny-custodian\/\" style=\"\" rel=\"noopener\">statement<\/a> from the company. The bank is planning to issue the stablecoin \u2014- a crypto token pegged to hard currencies like the USD and EUR \u2014 through its digital asset subsidiary, SG-FORGE. The currency, USD CoinVertible, is set to be tradable from July and will be issued on the Ethereum and Solana blockchains under the ticket USDCV. New York-based global financial services firm BNY will act as the token\u2019s custodian.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on USD CoinVertible:<\/strong> The token will be used for cross-border payments, FX transactions, crypto trading, and collateral and cash-management. The stablecoin is set to be offered on various, as yet unspecified, crypto exchanges; however, regulatory restrictions mean it won\u2019t be available to US investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This isn\u2019t Societe General\u2019s first stablecoin venture<\/strong>, with the bank\u2019s digital arm launching a EUR-backed stablecoin in 2023. However, this marks its first USD-backed issuance, with crypto pegged to the greenback gaining traction. SG-FORGE CEO Jean-Marc Stenger pointed to growing demand for a \u201cwell-regulated, robust offering in the crypto and stablecoin space,\u201d noting that, \u201cat the moment, there are no other banking-related players\u201d offering a regulated USD-based stablecoin. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other European banks are eyeing a piece of the pie: <\/strong>Deutsche Bank is also considering tapping into the stablecoin market by either issuing its own asset or joining a wider initiative, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-06\/deutsche-bank-is-exploring-stablecoins-and-tokenized-deposits\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Spain\u2019s Banco Santander was also reported to be in the early stages of launching a stablecoin. Embracing stablecoin, which is dominated by USD-pegged tokens, is seen by some as a way for Europe to reassert \u201cmonetary sovereignty\u201d \u2014 especially through EUR-backed assets, according to the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/212f6edb-e7d4-41d3-b7b4-6b3910a6ae2f\" style=\"\" rel=\"noopener\">Financial Times<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This comes amid growing regulatory focus on stablecoin<\/strong>, with the US set to pass a bill on a regulatory framework for stablecoins, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/stablecoins-step-toward-mainstream-could-shake-up-parts-us-treasury-market-2025-06-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports elsewhere. The UK government is considering easing a current ban on certain retail investments linked to cryptocurrencies, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/4026da6b-43e6-47eb-9282-838aa841905a\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. The UK\u2019s planned regulatory framework would also cover stablecoins.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The for and against: <\/strong>Detractors of the US bill fear growing stablecoin adoption would add more volatility to the market. Supporters argue more stablecoin activity will drive up demand for buying short-term government debt, as a bill would require stablecoins to be backed by short-term assets like T-bills, and therefore reduce the current fiscal pressure resulting from high levels of long-term US government debt.<\/p>\n<p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asia-Pacific markets are up in early trading, buoyed by optimism from a breakthrough in trade talks<\/strong> between Washington and Beijing over rare earth mineral exports. The Hang Seng Index, Shanghai, Kospi, Nikkei, and ASX are all in the green so far this morning \u2014 albeit by a relatively slim margin. The optimism doesn\u2019t seem to have carried over to Wall Street yet, where futures indicate the S&P 500, Nasdaq, and Dow Jones will all open in the red. <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tbody>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,004<\/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\">+1.6% (YTD: -8.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,406<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.7% (YTD: -6.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">27,307<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.0% (YTD: -13.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.0% 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\">4.5% 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\">32,904<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +10.7%)<\/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\">9,796<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +4.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,599<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +8.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6039<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +2.7%)<\/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>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\">8853<\/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: +8.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5415<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +10.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 66.87<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.52<\/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%<\/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 3343.40<\/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%<\/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>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 109,842.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +17.4%)<\/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>Sukuk\/bond market index<\/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\">912.9<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +1.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-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 MENA Bond & Sukuk<\/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\">143.84<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +2.8%)<\/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>VIX (Volatility Index)<\/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\">16.65<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2% (YTD: -2.3%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI<\/strong> rose 1.6% yesterday on turnover of SAR 4.6 bn. The index is down 8.6% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> SIIG (+7.0%), Acwa Power (+6.7%), and Albabbtain (+5.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>SSP (\u20116.3%), SRMG (\u20112.3%), and Jadwa REIT Saudi (\u20112.1%).<\/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> gained 1.0% yesterday on turnover of SAR 27.8 mn. The index is down 13.2% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Alrazi (+14.3%), Alnaqool (+9.4%), and Lana (+9.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Academy Of Learning (\u20116.5%), DRC (\u20114.9%), and Azm (\u20113.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The United Int<\/strong><strong>ernational Transp<\/strong><strong>ortation Company\u2019s (Budget Saudi) BoD recommended a <\/strong><strong>33.7% capital increase to SAR 1 bn<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=87999&anCat=1&cs=4260&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The capital hike is set to be funded by tapping SAR 263.8 mn from retained earnings to support the company\u2019s growth and financial position.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Pending regulatory and shareholders\u2019 approvals, the hike involves a 33.3% increase through a one-for-three bonus share issuance and a 0.4% increase by allocating 320k shares to a long-term employee incentive program.<\/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>ALSO- <\/strong><strong>Saudi Steel Pipe<\/strong><strong> Company\u2019s shareh<\/strong><strong>olders approved the distribution of two <\/strong><strong>separate <\/strong><strong>banknote<\/strong><strong> dividends<\/strong> totalling SAR 199.6 mn at SAR 3.95 per share for FY 2024, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/459.pdf\" style=\"\" rel=\"noopener\">disclosure to Tadawul (pdf)<\/a>. The first payout is a regular dividend of SAR 1 per share for FY 2024, while the second is a one-time extraordinary dividend of SAR 2.95 per share paid with the company\u2019s retained earnings. The distribution date for both payments is set for 22 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong><strong>Shareholde<\/strong><strong>rs at View United Rea<\/strong><strong>l Estate Development approved the distribution of SAR <\/strong><strong>9.9 mn in dividends for FY 2024 at SAR 0.3 per share<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=87991&anCat=1&cs=9591&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The distribution date is yet to be announced.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/banking\/\">BANKING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/crypto\/\">crypto<\/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\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    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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;\">JUNE <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-18 June (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/fomccalendars.htm\" style=\"\">US Federal Reserve Open Market Committee<\/a><\/span><span style=\"font-weight:400;\"> meeting and Summary of Economic Projections.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-25 June (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/toss-summit.com\/\" style=\"\">Tech-ecO-System Summit (ToSS)<\/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>30 June (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/ar\/MediaCenter\/News\/Pages\/news_1346.aspx\" style=\"\">Cancellation of Fines and Exemption of Financial Penalties Initiative<\/a><\/span><span style=\"font-weight:400;\"> by the Zakat, Tax and Customs Authority (Zatca) deadline.<\/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\">JULY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>July (Second week): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wipo.int\/en\/web\/awards\/global\/how-to-apply\" style=\"\">World Intellectual Property Organization (WIPO) Global Awards 2025<\/a><\/span><span style=\"font-weight:400;\"> awards ceremony, Geneva.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7 July-24 August (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/esportsworldcup.com\/en\" style=\"\">Esports World Cup<\/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>29-30 July (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/fomccalendars.htm\" style=\"\">US Federal Reserve Open Market Committee<\/a><\/span><span style=\"font-weight:400;\"> meeting.<\/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;\">31 July (Thursday): Deadline for companies with SAR 2.5 mn or more in 2022\/2023 revenues to integrate e-invoicing solutions with Fatoora.<\/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>7 July-24 August (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/esportsworldcup.com\/en\" style=\"\">Esports World Cup<\/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>5-17 August (Tuesday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.fiba.basketball\/en\/events\/fiba-asiacup-2025-qualifiers\" style=\"\">2025 Fiba Asia Cup<\/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;\">SEPTEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-17 September (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/money2020middleeast.com\/\" style=\"\">Money 20\/20 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>17-18 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/fomccalendars.htm\" style=\"\">US Federal Reserve Open Market Committee<\/a><\/span><span> meeting and Summary of Economic Projections. <\/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 (Tuesday): Saudi National Day.  <\/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;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-3 October (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sgbf.sa\/\" style=\"\">Saudi Green Building 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>7-8 October (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/gemtechforum.com\/\" style=\"\">Global EV & Mobility Technology (GEMTECH) 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 style=\"font-weight:400;\">15 October (Wednesday): Russian-Arab Summit.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17 October (Friday): Saudization for private healthcare roles enters its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.hrsd.gov.sa\/ar\/media-center\/news\/%D8%A8%D8%AF%D8%A1-%D8%AA%D8%B7%D8%A8%D9%8A%D9%82-%D9%82%D8%B1%D8%A7%D8%B1-%D8%B1%D9%81%D8%B9-%D9%86%D8%B3%D8%A8-%D8%A7%D9%84%D8%AA%D9%88%D8%B7%D9%8A%D9%86-%D9%84%D8%A3%D8%B1%D8%A8%D8%B9-%D9%85%D9%87%D9%86-%D8%B5%D8%AD%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5\" style=\"\">second phase<\/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>22-23 October (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.privatecapitalforum.com.sa\/\" style=\"\">Private Capital 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>28-30 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fii-institute.org\/conference\/fii9-edition\" style=\"\">Future Investment Initiative (FII9)<\/a><\/span><span style=\"font-weight:400;\">, King Abdulaziz International Conference Center (KAICC) and the Ritz-Carlton, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-29 October (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/fomccalendars.htm\" style=\"\">US Federal Reserve Open Market Committee<\/a><\/span><span> meeting.<\/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>3-9 November (Monday- Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wtatennis.com\/tournament\/808\/wta-finals\/2025\/overview\" style=\"\">WTA Tour Finals<\/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>11-13 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.tourise.com\/en\/home\" style=\"\">Tourise<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.tourise.com\/en\/home\" style=\"\">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>17-20 November (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/cityscapeglobal.com\/\" style=\"\">Cityscape Global<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Exhibition and Convention Centre, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-26 November (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudifoodexpo.com\/\" style=\"\">Saudi Food Exhibition and Conference<\/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 November (Monday-Wednesday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wamsaudi.com\/\" style=\"\">The World Advanced Manufacturing & Logistics Saudi 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>27-30 November (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wrc.com\/en\/calendar\" style=\"\">World Rally Championship Saudi Arabia 2025<\/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>30 November (Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1353.aspx\" style=\"\">Zatca<\/a><\/span><span style=\"font-weight:400;\"> 21st E-invocing integration wave deadline.<\/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>1-4 December (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iaea.org\/events\/epr2025\" style=\"\">International Conference on Nuclear and Radiological Emergencies<\/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>1-4 December (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/isocarp.org\/61st-isocarp-world-planning-congress\/\" style=\"\">61st ISOCARP World Planning 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 style=\"font-weight:400;\">9-10 December (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-27 December (Saturday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fortune.com\/2024\/11\/15\/fortune-global-forum-2025-riyadh-saudi-arabia\/\" style=\"\">The Fortune Global Forum 2025<\/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>31 December (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1353.aspx\" style=\"\">Zatca<\/a><\/span><span style=\"font-weight:400;\"> 22st E-invoicing integration wave deadline.<\/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>8-12 February (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worlddefenseshow.com\/en\" style=\"\">World Defense 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>26-29 October (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldenergy.org\/experiences-events\/world-energy-congress\" style=\"\">World Energy 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>27-29 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/rx-announces-the-launch-of-aluminium-arabia-in-riyadh-for-2026-y7qwfljt\" style=\"\">Aluminum Arabia<\/a><\/span><span>, The Arena, 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\">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 style=\"font-weight:400;\">takes place in 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\">The Ocean Race<\/span><span style=\"font-weight:400;\"> finishes in Amaala on the Red Sea.<\/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\">Riyadh-Kudmi transmission line<\/span><span style=\"font-weight:400;\"> to be completed.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Aramco x Nigeria | SNB closes sukuk sale | SMC prices IPO | Sports Clubs to land on Tadawul.<\/p>\n","protected":false},"featured_media":97738,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-97737","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4fe274a8-9228-43dd-9484-86e99d8fc8ab","teaser":"Aramco x Nigeria | SNB closes sukuk sale | SMC prices IPO | Sports Clubs to land on Tadawul.","photo_url":"https:\/\/ent.news\/2024\/2\/1216.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>GDP growth revised up to 3.4% in 1Q 2025. PLUS: Industrial production rises in April - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/gdp-growth-revised-up-to-3-4-in-1q-2025-plus-industrial-production-rises-in-april\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GDP growth revised up to 3.4% in 1Q 2025. 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