{"id":97942,"date":"2025-06-18T00:00:00","date_gmt":"2025-06-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=97942"},"modified":"2025-12-14T21:17:36","modified_gmt":"2025-12-14T21:17:36","slug":"the-gcc-could-see-short-term-gains-from-the-iran-israel-conflict-longer-term-impacts-are-less-certain","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/the-gcc-could-see-short-term-gains-from-the-iran-israel-conflict-longer-term-impacts-are-less-certain\/","title":{"rendered":"The GCC could see short-term gains from the Iran-Israel conflict. Longer-term impacts are less certain."},"content":{"rendered":"<section id=\"97944\" 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=\"97944\">\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\/18\/saudi-arabia-is-the-official-host-of-expo-2030\/\">\r\n                            THIS MORNING: Saudi Arabia receives final stamp to officially host Expo 2030                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div 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<div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/18\/saudi-arabia-is-the-official-host-of-expo-2030\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/984.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"97945\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/18\/saudi-arabia-is-the-official-host-of-expo-2030\/984-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/984.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"984.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/984.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/984.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-97944\" class=\"content-area-description single-story post-97944 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam-ksa tag-expo-2030 tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.c6ad26b0-46d4-405a-8cc8-d0153e76f095.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>Good morning. <\/strong>Reverbations of the Israel-Iran conflict is still dominating local and internation news headlines, with analysts trying to chart possible scenarios in an increasingly uncertain conflict.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An increasingly hawkish Trump reiterated<\/strong><strong> his calls overnight for an unconditional surrender<\/strong> \u2014 <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/114699621000737127\" style=\"\" rel=\"noopener\">needless to say in all caps<\/a> \u2014 and <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/114699610769479275\" style=\"\" rel=\"noopener\">threatening<\/a> to kill Iranian Supreme Leader Ayatollah Ali Khamenei and describing him as an \u201ceasy target.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the real and growing concern is if Trump decides to turn words into actions and <\/strong><strong>formally join Israel\u2019s war on Iran<\/strong>, potentially using its more advanced hardware to target deep underground facilities that the Israelis are unable to do. Pointing to the increased likelihood of the US\u2019 direct involvement, Trump said the country\u2019s patience was \u201cwearing thin,\u201d <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/114699514822488706\" style=\"\" rel=\"noopener\">described<\/a> how \u201cwe\u201d have established dominance of Iranian airspace, and directed the forward deployment of the US air power. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/trump-urges-tehran-evacuation-iran-israel-conflict-enters-fifth-day-2025-06-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2025\/06\/17\/world\/israel-iran-trump\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/00996449-94bf-48d5-ad8c-21eef78a91f4\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-17\/trump-to-meet-security-team-after-demanding-iran-s-surrender?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2025\/jun\/17\/middle-east-conflict-reaches-crucial-moment-as-trump-demands-real-end-to-iran-nuclear-programme\" style=\"\" rel=\"noopener\">Guardian<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While the world\u2019s attention turns to Iran, Israel\u2019s starvation of Gaza and daily massacres <\/strong><strong>have continued<\/strong>, the most recent of which saw 59 Palestinians slaughtered yesterday as Israeli tanks fired into crowds of people waiting for desperately needed food aid. \u201cThe people are dying, they are being torn apart, to get food for their children,\u201d one eyewitness told Reuters. The killing of those seeking aid in what the UN describes as the \u201cthe hungriest place on Earth\u201d has become a depressingly familiar story coming out of the besieged strip in recent weeks, despite the entire population of Gaza being at risk of famine.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Elsewhere in the strip, at least another 14 people were killed, bringing the day\u2019s death toll <\/strong><strong>to at least 73.<\/strong> But with the conflict now in its 20th month and developing events elsewhere taking away diplomatic and media focus, the relative silence on Gaza in recent weeks has been deafening. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-tank-shelling-kills-45-people-awaiting-aid-trucks-gaza-ministry-says-2025-06-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/06\/17\/world\/middleeast\/gaza-israel-aid-sites-violence.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6969644f-ca2f-4ca5-a230-cc230d6d8acf\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2025\/jun\/17\/dozens-killed-in-gaza-waiting-for-food-trucks-says-health-ministry\" style=\"\" rel=\"noopener\">Guardian<\/a>)<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a> #1- <\/strong><strong>Flynas will go pub<\/strong><strong>lic on Tadawul\u2019s main market today<\/strong>, marking the Kingdom\u2019s <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\">largest IPO<\/a><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\">so far this year<\/a> and the highest-grossing Saudi IPO since Aramco\u2019s stellar USD 29.4 bn debut in 2019, according to a Tadawul <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-detail-wcm\/?newsId=8874&locale=en\" style=\"\" rel=\"noopener\">bulletin<\/a> published yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is the region\u2019s first IPO of a major airline since 2008<\/strong>, and it\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/59ac720b-9beb-4944-b570-50850c766c18\/flynas%25e2%2580%2599-retail-offering-wraps-with-3.5x-oversubscription\" style=\"\" rel=\"noopener\">the third-ever carrier to<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/59ac720b-9beb-4944-b570-50850c766c18\/flynas%25e2%2580%2599-retail-offering-wraps-with-3.5x-oversubscription\" style=\"\" rel=\"noopener\">list in the GCC<\/a> after UAE\u2019s Air Arabia and Kuwait\u2019s Jazeera Airway \u2014 beating Abu Dhabi\u2019s Etihad Airways to market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shares will be allowed to trade within a 30% range for the first three days<\/strong>, before being capped at no more than 10% up or down starting on the fourth day when circuit breakers kick in.<\/p>\n<p><strong>REFRESHER- <\/strong>Flynas priced its IPO at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a75a224e-f2aa-4627-9b52-a34b65559850\/flynas-to-lock-in-sar-4.1-bn-in-ipo-proceeds-amid-massive-investor-demand\" style=\"\" rel=\"noopener\">SAR 80 apiece<\/a> \u2014 the top of the range it was guiding on \u2014 allowing it to rake SAR 4.1 bn in proceeds after its institutional offering saw an overwhelming demand. The larger tranche of the IPO \u2014 in which the PIF-backed airline is taking a 30% stake to Tadawul \u2014 was 100x oversubscribed, while the retail tranche was 3.5x covered.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>R<\/strong><strong>ising uncertainty is not affecting the IPO pipeline (yet): <\/strong>The Kingdom\u2019s IPO pipeline remains resilient despite mounting geopolitical risks related to the Israel-Iran conflict, with several listings scheduled for the coming weeks, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-16\/middle-east-ipos-remain-on-track-as-investors-monitor-conflict?srnd=homepage-middle-east&embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing statements from investment bankers in the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Large listings could face delays: <\/strong>While upcoming large, government-backed listings may be delayed, smaller, domestically focused IPOs remain on track, Al Rayan Investment\u2019s acting CEO Akber Khan said. Brent\u2019s rebound to near USD 75\/bbl is also offering a buffer to GCC markets. Main market listings \u2014 including <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/13f1b81b-4517-4d4d-b36d-a9d9a7698bb8\/smc-postpones-retail-subscription-period-to-mid-june\" style=\"\" rel=\"noopener\">Specialized Medical<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/190b25c6-ba0e-4588-aba5-5c502dc439c1\/sports%253cmark%253e-clubs%253c%2Fmark%253e-to-divest-30%2525-stake-on-tadawul\" style=\"\" rel=\"noopener\">Sports Club<\/a>, <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>, <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>, <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> \u2014 remain on track, with no delays announced.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pundits weigh in:<\/strong> \u201cThe recent history for MENA equities is that markets realize quickly that a spasm of fighting does not impact the medium- to long-term economic and earnings trajectory,\u201d Bloomberg cited JPMorgan Chase as saying in a note. However, analysts caution that a prolonged conflict could weigh on investor risk appetite.<\/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- The US Federal Reserve\u2019s Open Market Committee will make a decision on interest <\/strong><strong>rates today, with Gulf countries set to follow suit<\/strong>. The Fed is widely expected to maintain its current policy, keeping benchmark federal fund rates at 4.25%-4.50% during this week\u2019s meeting as persistent tariff-related inflation and global uncertainties overshadow easing pressures, according to a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/fed-keep-rates-hold-least-until-september-inflation-risks-linger-2025-06-10\/\" style=\"\" rel=\"noopener\">Reuters poll<\/a> of economists. Economists estimate the first cut won\u2019t arrive until September, with another potential cut set to follow by the year-end.<\/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>WEATHER- <\/strong><strong>Riyadh <\/strong>is expected to see a high of 45\u00b0C and a low of 30\u00b0C today, while <strong>Jeddah\u2019s <\/strong>mercury will go as high as 37\u00b0C and as low as 27\u00b0C. <strong>Makkah <\/strong>will see a 44\u00b0C high and 33\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>Riyadh resi<\/strong><strong>dents will now be notified via text messages when road or utility work is <\/strong><strong>about to<\/strong> <strong>start near their homes or businesses<\/strong>, the Riyadh Infrastructure Projects Center <a target=\"_blank\" href=\"https:\/\/x.com\/RIPC_KSA\/status\/1934563010996998546\" style=\"\" rel=\"noopener\">said on X<\/a>. The alerts will include the location, duration, and type of work \u2014 road repairs or updates to water, electricity, or internet services \u2014 to help residents plan ahead and find alternative routes. <\/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=\"wwtt2\"><\/a> #1- <\/strong><strong>Saudi Ar<\/strong><strong>abia receives final stamp to officially host Expo 2030:<\/strong> The Bureau International des Expositions (BIE) approved Expo 2030 Riyadh\u2019s registration dossier, handing over the World Expo flag to the Kingdom to host the event from October 2030 to March 2031, according to a <a target=\"_blank\" href=\"https:\/\/www.expo2030riyadh.sa\/en\/insights\/expo-2030-riyadh-registration-dossier-receives-bie-final-approval-at-paris-general-assembly\/\" style=\"\" rel=\"noopener\">statement<\/a> released yesterday. Riyadh\u2019s submission \u2014 completed in half the standard time \u2014 was the fastest in BIE\u2019s history, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> Saudi Arabia can now begin the implementation phase, including sending out official invitations for international participants, BIE said in a separate <a target=\"_blank\" href=\"https:\/\/www.bie-paris.org\/site\/en\/news-announcements\/world-expo\/bie-general-assembly-grants-registration-to-world-expo-2030-riyadh\" 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>ICYMI- <\/strong>The Kingdom was named host in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4b13fc30-624a-4fa9-9b4b-d12407c125f9\/\" style=\"\" rel=\"noopener\">November<\/a> after edging out Italy and South Korea in balloting by BIE member states.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT- The event could attract <\/strong><strong>mns<\/strong><strong> of visitors to the Kingdom<\/strong>, with spending on infrastructure and other components of the event estimated to be in the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ba65a930-c5b2-4b06-949f-33c9ba29e60c\/saudi-and-the-us-said-to-be-closing-in-on-ai,-defense,-and-nuclear-pacts\" style=\"\" rel=\"noopener\">USD 92 bn range<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> #2- <\/strong><strong>Saudi N<\/strong><strong>ational Bank\u2019s (SNB) <\/strong><strong>ongoing USD 1.25 bn <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5340fd2e-39ad-4de6-889c-43c7384e6a57\/%253cmark%253esnb%253c%2Fmark%253e-to-issue-usd-denominated-tier-2-capital-debt-instruments\" style=\"\" rel=\"noopener\">(tier 2 debt issuance<\/a><\/strong> <strong> has booked USD <\/strong><strong>4 bn in orders from both local and foreign<\/strong><strong> institutions<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-17\/saudi-national-bank-taps-debt-market-as-lenders-binge-on-bonds\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing a source it says is familiar with the matter. The two-day offering, which kicked off yesterday, was reportedly priced at 200 bps above US Treasuries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The 10-year notes, which will be listed on the London Stock Exchange, are callable after five years, with minimum subscriptions starting at USD 200k, SNB said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88155&anCat=1&cs=1180&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SNB is issuing the tier 2 notes via a special purpose vehicle<\/strong>, with proceeds earmarked for boosting tier 2 capital, corporate funding, and broader strategic objectives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS:<\/strong> Abu Dhabi Commercial Bank, DBS Bank, Emirates NBD, Goldman Sachs, HSBC, JP Morgan Securities, Mashreq Bank, Mizuho International, SNB Capital, SMBC Nikko Capital Markets, and Standard Chartered are joint lead managers and joint bookrunners for the offering.<\/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>#3- The Kingdom is now expected to see its oil economy grow by 5.2% in 2025<\/strong>, up from an earlier estimate of just 1.9% growth, the Institute of Chartered Accountants in England and Wales (ICAEW) said in its <a target=\"_blank\" href=\"https:\/\/www.icaew.com\/technical\/economy\/business-confidence-monitor\/middle-east\" style=\"\" rel=\"noopener\">Economic Update report<\/a> \u2014 out before the escalation between Israel and Iran. Non-oil growth is also seen expanding at around 5% in the next few years, the note reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Budget deficit is expected to reach 3.4% of GDP this year<\/strong>, in what would be a wider deficit than the 2.8% registered in 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Diversification progress to remain strong:<\/strong> \u201cBoth Saudi Arabia and the UAE are well placed to leverage the announced technology and AI agreements in line with the region's diversification objectives,\u201d the note reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The GCC at large is seen growing by 4.4% this year,<\/strong> representing an upgrade of 0.4 percentage point from previous forecasts, according to the report. The growth will be primarily driven by \u201cfaster Opec+ output increases and sustained non-oil momentum in key economies like Saudi Arabia and the UAE,\" <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/economy\/gcc\/gcc-economies-buck-global-downturn-gdp-to-hit-44-in-2025-ovgm33q8\" style=\"\" rel=\"noopener\">Zawya<\/a> quotes ICAEW\u2019s Scott Livermore as saying. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil-sector growth will come in at a higher rate than previously expected:<\/strong> The larger output hikes announced by Opec+ for May, June and July are expected to contribute to oil-sector growth of 4.6% in the GCC this year, up ICAEW\u2019s previous forecast of 3.2% of oil-sector growth. Meanwhile, non-energy sectors are also expected to grow \u2014 but at a slower pace than previously predicted, with the ICAEW revising its forecast down by 0.3 percentage point to 4.1% this year. <\/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>Event organizer<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/www.time-entertainment.com\/\" style=\"\" rel=\"noopener\">Time Entertainment<\/a><\/strong><strong>\u2019s stock dropped 14.4% on its Nomu debut<\/strong><strong> yesterday<\/strong>, closing the session at SAR 68.50, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/hidden\/company-profile-nomu-parallel\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz8_R0tzQ0C3byc3D19HI1dA030I4EKzBEKDMKcTQzMDPxN3H19LAzdTUz1wwkpKMhO8wQA9KBkIg!!\/?companySymbol=9642#Z7_5A602H80O0VC4060O4GML81G45\" style=\"\" rel=\"noopener\">market data<\/a>. Shares will be allowed to trade within a 30% range for the first three days, before being capped at no more than 10% up or down starting on the fourth day when circuit breakers kick in.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The company floated a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/285be8ab-9700-446e-928d-cb91c37818bc\/%253cmark%253etime-entertainment%253c%2Fmark%253e-sets-nomu-ipo-price-range-at-sar-76-80-apiece\" style=\"\" rel=\"noopener\">20% stake<\/a> at SAR 80 apiece in a secondary offering that was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9f07d66b-16dc-46b7-9161-b124e32674cd\/\" style=\"\" rel=\"noopener\">1.4x oversubscribed<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Gulf Schengen-style visa gets the greenlight?<\/strong> A unified tourist visa for all six GCC countries was given the green light and is expected to be implemented \u201csoon\u201d, UAE\u2019s Economy Minister Abdulla Bin Touq Al Marri told <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/world\/gulf\/gcc-tourist-visa-approved-implementation-soon?_refresh=true\" style=\"\" rel=\"noopener\">AlKhaleej Times<\/a> on the sidelines of the UAE Hospitality Summer Camp press conference on Monday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> The GCC Grand Tours Visa is a Schengen-style system that will allow tourists to visit all six member states \u2014 Saudi Arabia, the UAE, Bahrain, Qatar, Oman, and Kuwait \u2014 on a single visa. It is poised to be a game-changer for regional tourism, boosting bleisure travel \u2014 where business visitors extend their stays to explore neighboring countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> The initiative, now in the home stretch, was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3be3c1ba-d82a-4081-96c4-23213f902d87\/call-for-gaza-ceasefire-%2B-unified-visa-top-news-out-of-gcc-meeting\" style=\"\" rel=\"noopener\">approved<\/a> back in 2023 and is slated to launch later this year, though no specific date has been confirmed.<\/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>#6- <\/strong><strong>PIF-backed Riy<\/strong><strong>adh Air\u2019s recent Airbus order has boosted its order book to 182 aircraft<\/strong>, Marketing and Corporate Communications VP Osama Al Nwayser told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2025\/06\/16\/%D8%B7%D9%8A%D8%B1%D8%A7%D9%86-%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D9%84%D8%AF%D9%8A%D9%86%D8%A7-182-%D8%B7%D8%A7%D8%A6%D8%B1%D8%A9-%D8%AA%D8%AD%D8%AA-%D8%A7%D9%84%D8%B7%D9%84%D8%A8-%D9%84%D8%AA%D8%B9%D8%B2%D9%8A%D8%B2-%D8%A7%D8%B3%D8%B7%D9%88%D9%84%D9%86%D8%A7\" style=\"\" rel=\"noopener\">Al Arabiya Business<\/a> on the sidelines of the 2025 Paris Airshow. Riyadh Air \u2014 which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/246f3245-5b1f-42d3-aa93-a1edaf265c97\/avilease,%253cmark%253e-riyadh-air%253c%2Fmark%253e-tap-airbus-for-new-freighter,-passenger-jets-at-paris-airshow\" style=\"\" rel=\"noopener\">locked in an order for up to 50 Airbus aircraft<\/a> \u2014 is set to announce its first route and ticket sale mechanism within months, Al Nwayser added, without specifying an official date. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ready, set, and almost fly: <\/strong>Our newest airline <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/428aaf94-cf15-442c-8a86-2f464f632f46\/%253cmark%253eriyadh-air%253c%2Fmark%253e-on-track-to-receive-its-first-aircraft-in-3q\" style=\"\" rel=\"noopener\">is scheduled to receive its first aircraft in 3Q<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/428aaf94-cf15-442c-8a86-2f464f632f46\/%253cmark%253eriyadh-air%253c%2Fmark%253e-on-track-to-receive-its-first-aircraft-in-3q\" style=\"\" rel=\"noopener\">2025<\/a> \u2014 snapping planes through two major agreements for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/769fe009-9ca8-453b-9cb0-509698b007f8\/riyadh-air-wants-more-widebody-jets-from%253cmark%253e-boeing%253c%2Fmark%253e-%2B-airbus\" style=\"\" rel=\"noopener\">Boeing 787 Dreamliners<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cc99c6af-22bb-4009-8fd1-a45222058526\/%253cmark%253eriyadh-air%253c%2Fmark%253e-puts-in-usd-4-bn-order-for-60-a321neo-aircraft\" style=\"\" rel=\"noopener\">Airbus A321neos<\/a>. It also received its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3a2f35eb-e736-4818-9c65-28154b4aba0c\" style=\"\" rel=\"noopener\">Air Operator Certificate (AOC)<\/a> earlier in April and solidified the interior design of its fleet. The airline plans to integrate AI in its operations, with support from Microsoft and IBM, to improve data analysis and passenger services.<\/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>#7- <\/strong><strong>Undisclo<\/strong><strong>sed<\/strong> <strong>Saudi and Bahraini investo<\/strong><strong>rs are set to launch a joint venture <\/strong><strong>for building <\/strong><strong>and construction materials<\/strong><strong> by the end of 2026<\/strong>, chairman of the Saudi-Bahraini Business Council Majid Al Baqmi told <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2025\/06\/16\/article_2762600.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> on Monday. The new company will support infrastructure, industrial, and entertainment projects in Bahrain by providing construction materials like cement, iron, timber, and quarry outputs, along with Saudi companies that are allowed to export to Bahrain.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The joint venture will open offices in both countries<\/strong>, and it will potentially work toward listing in Tadawul. Equity in the company will be open to all categories of investors, including individuals, sovereign funds, and government entities, Al Baqmi said. The exact capital and contribution percentages between the two countries are still under review pending a final economic study.<\/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\"> MARKET WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Global oil supplies are expected to outpace demand this year<\/strong> <strong>even as Middle East <\/strong><strong>tensions heighten concerns over potential disruptions,<\/strong> the International Energy Agency (IEA) said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/969.pdf\" style=\"\" rel=\"noopener\">annual report (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> Oil production is forecast to grow by 1.8 mn bbl\/d this year to reach 104.9 mn bbl\/d, while demand is projected at 103.8 mn bbl\/d \u2014 resulting in rising oil inventories throughout the year. The surplus is driven by Opec+ producers gradually reversing earlier output cuts and non-Opec+ producers contributing an additional 1.4 mn bbl\/d on average. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Global inventories have been rising steadily<\/strong>, with storage levels increasing by an average of 1 mn bbl\/d since February. In May alone, oil jumped to a \u201cmassive\u201d 93 mn bbl\/d \u2014 that said, total inventories remain 90 mn bbl below year-ago levels. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Long term outlook:<\/strong> Global oil supply will continue exceeding demand through 2030, with production capacity rising by 5 mn bbl\/d to 114.7 mn bbl\/d, according to the IEA. Demand is expected to grow more slowly, increasing by 2.5 mn bbl\/d to a projected peak of 105.5 mn bbl\/d by the end of the decade. A major factor in this slowdown is China, where consumption is now expected to peak in 2027, driven by the widespread adoption of electric vehicles, high-speed rail expansion, and gas-powered trucking.<\/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. 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<\/div>\n<\/div>\n<\/section>\n<section id=\"97947\" 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=\"97947\">\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\/18\/the-gcc-could-see-short-term-gains-from-the-iran-israel-conflict-longer-term-impacts-are-less-certain\/\">\r\n                            Analysts navigate what the Iran-Israel conflict will mean for the GCC                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div 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Longer-term impacts are less certain.&url=https:\/\/enterpriseam.com\/ksa\/2025\/06\/18\/the-gcc-could-see-short-term-gains-from-the-iran-israel-conflict-longer-term-impacts-are-less-certain\/\">\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\/18\/the-gcc-could-see-short-term-gains-from-the-iran-israel-conflict-longer-term-impacts-are-less-certain\/&title=The GCC could see short-term gains from the Iran-Israel conflict. Longer-term impacts are less certain.\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+GCC+could+see+short-term+gains+from+the+Iran-Israel+conflict.+Longer-term+impacts+are+less+certain.+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F06%2F18%2Fthe-gcc-could-see-short-term-gains-from-the-iran-israel-conflict-longer-term-impacts-are-less-certain%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\/18\/the-gcc-could-see-short-term-gains-from-the-iran-israel-conflict-longer-term-impacts-are-less-certain\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/980.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"97948\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/18\/the-gcc-could-see-short-term-gains-from-the-iran-israel-conflict-longer-term-impacts-are-less-certain\/980-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/980.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"980.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/980.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/980.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-97947\" class=\"content-area-description single-story post-97947 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-ksa tag-fitch-ratings tag-gdp tag-israel tag-oil-and-gas tag-war-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\/.991976f0-ac4f-4119-83cd-798d87d9cb90.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More analysts and credit ratings agencies are weighing in on the <\/strong><strong>implications of <\/strong><strong>the escalating conflict between Israel and Iran on the MENA region<\/strong> and for the global economy at large \u2014 and while there is some lack of clarity over what might happen, the question is currently not whether there will be impacts, but how significant they will be. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The oil market could be particularly affected by the conflict<\/strong>, with Fitch Solutions\u2019 research unit BMI saying in a webinar attended by EnterpriseAM that \u201call options are on the table\u201d both for the conflict and for its impact on oil prices in the near term. BMI laid out a number of possibilities for oil prices by 3Q:<\/p>\n<ol class=\"lst-kix_y0lgqug9tgqm-0 start\" start=\"1\" style=\"padding:0;margin:0\">\n<li><strong>Iran conducts limited attacks and a new nuclear agreement is reached,<\/strong> which would lead to crude oil being priced at USD 60-65 per barrel;<\/li>\n<li><strong>Iran's missile programs are weakened and the US does not pursue a new nuclear agreement,<\/strong> which would lead to crude oil barrels being priced at USD 60-70 per barrel;<\/li>\n<li><strong>Israel and Iran engage in retaliatory strikes before eventual de-escalation,<\/strong> keeping prices elevated at USD 70 per barrel before stabilizing at between USD 60-80;<\/li>\n<li><strong>Retaliatory exchanges between Israel and Iran lead to military confrontation with the US,<\/strong> leading to prices of USD 75-100;<\/li>\n<li><strong>The situation develops into a broader conflict that pits the US directly against Iran,<\/strong> bringing prices up to around USD 100-150 should a closure of the Strait of Hormuz take place.<\/li>\n<\/ol>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil supply could remain stable in the next few months:<\/strong> \u201cSo long as oil exports of producers in the region remain unaffected, the global oil market is set to be well supplied over the next few months on the back of OPEC+\u2019s well-documented pivot towards a faster unwinding of voluntary output cuts,\u201d Capital Economics\u2019 James Swanston wrote in a research note seen by EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where oil prices are trading currently:<\/strong> Brent Crude rose to a five-month high on Tuesday on speculations that the US might attack Iran, reaching USD 76 a barrel. Oil options volumes soared on Monday, with traders snapping up bullish Brent calls at USD 80 and USD 100. Brent\u2019s futures curve steepened into backwardation, suggesting fears of near-term supply shocks, especially if tensions escalate toward the Strait of Hormuz, through which 17 mn barrels per day of oil pass.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As things stand, Gulf countries stand to benefit:<\/strong> \u201cThe Gulf economies benefit for the time being from higher production and oil prices. The greater negative impact will be felt on the economies of Egypt and Jordan,\u201d Swanston said. This notion was seconded by Fitch\u2019s Head of MENA Country Risk Ramona Moubarak, who said in the webinar that as long as the conflict remains confined to Iran and Israel, GCC economies will only be affected by the air of uncertainty, while benefiting from the higher oil prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The key determining factor will be the Strait of Hormuz:<\/strong> Iran following through on its threats to close the Strait of Hormuz could lead to the cutting off about 30% of the world\u2019s daily oil supply and 20% of global LNG trade, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/633.pdf\" style=\"\" rel=\"noopener\">fact sheet (pdf)<\/a> by the International Energy Agency based on data between January and October 2023. Closing the strait and cutting off key energy exporters Iran, Iraq, Kuwait, Saudi Arabia, and the UAE from the global market has the potential to completely disrupt global energy supply chains and violently ramp up energy costs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe risk of a \u2018closure\u2019 of the Strait of Hormuz is more nuanced than some might sug<\/strong><strong>gest, <\/strong>not least because Iran relies on the Strait to export its energy flows,\u201d Swanston argued, adding that it seems unlikely Iran would cause long-term disruption to the Strait, given the implications not only for the West but for allies including China.<\/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\/fitch-ratings\/\">Fitch Ratings<\/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\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/war-watch\/\">WAR 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=\"97949\" 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=\"97949\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/18\/koreas-kexim-backs-masdar-led-saudi-solar-project-with-usd-255-mn-loan\/\">\r\n                            Korea\u2019s Kexim backs Masdar-led Saudi solar project with USD 255 mn loan                        <\/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\/18\/koreas-kexim-backs-masdar-led-saudi-solar-project-with-usd-255-mn-loan\/\" 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 terms of the credit facility were not disclosed.<\/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>Project profile:<\/strong> The solar project covers roughly 39.6 sqkm and will be equipped with 3.7 mn solar modules to produce some 6.5k GWh per year. The plant is due to go online in 2027, and the Saudi Power Procurement Company will buy all of its output under <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ad40e8fc-68b9-4d57-a331-be07f24e5359\/sppc-inks-ppa-for-2-gw-al%253cmark%253e-sadawi%253c%2Fmark%253e-solar-project\" style=\"\" rel=\"noopener\">a 25-year power purchase agreement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Masdar, Kepco, and GD Power were said to be forming a JV <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/60262ff8-0051-454e-afb2-43f25c9b7263\/we-have-updates-on-egypt%25e2%2580%2599s-solar-panel-factory\" style=\"\" rel=\"noopener\">earlier this year<\/a> with a USD 1.1 bn investment to develop the Al Sadawi project. While the exact ownership structure of the JV was not disclosed, GD Power Development was reported to hold a 40% stake.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is the first Saudi solar energy project involving a Korean developer<\/strong>, and the largest overseas project ever undertaken by a Korean firm, underscoring Seoul\u2019s growing interest in the region\u2019s clean energy infrastructure.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/masdar\/\">Masdar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"97951 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=\"97951\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/18\/97951\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-97951\" class=\"content-area-description single-story post-97951 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=\"97952\" 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=\"97952\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/18\/fintech-platform-octa-to-deploy-usd-20-mn-for-embedded-sme-lending-in-saudi\/\">\r\n                            Octa secures USD 20 mn credit facility to offer embedded working capital to Saudi SMEs                        <\/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\/18\/fintech-platform-octa-to-deploy-usd-20-mn-for-embedded-sme-lending-in-saudi\/\" 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\/18\/fintech-platform-octa-to-deploy-usd-20-mn-for-embedded-sme-lending-in-saudi\/')\">\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\/18\/fintech-platform-octa-to-deploy-usd-20-mn-for-embedded-sme-lending-in-saudi\/\">\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=Fintech platform Octa to deploy USD 20 mn for embedded SME lending in Saudi&url=https:\/\/enterpriseam.com\/ksa\/2025\/06\/18\/fintech-platform-octa-to-deploy-usd-20-mn-for-embedded-sme-lending-in-saudi\/\">\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\/18\/fintech-platform-octa-to-deploy-usd-20-mn-for-embedded-sme-lending-in-saudi\/&title=Fintech platform Octa to deploy USD 20 mn for embedded SME lending in Saudi\">\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=Fintech+platform+Octa+to+deploy+USD+20+mn+for+embedded+SME+lending+in+Saudi+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F06%2F18%2Ffintech-platform-octa-to-deploy-usd-20-mn-for-embedded-sme-lending-in-saudi%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\/18\/fintech-platform-octa-to-deploy-usd-20-mn-for-embedded-sme-lending-in-saudi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/948.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"97953\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/18\/fintech-platform-octa-to-deploy-usd-20-mn-for-embedded-sme-lending-in-saudi\/948-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/948.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"948.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/948.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/948.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-97952\" class=\"content-area-description single-story post-97952 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-debt-watch tag-enterpriseam-ksa tag-fintech tag-investment-watch tag-octa tag-startup-watch tag-sukna-fund-for-direct-financing-sfdf 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\/.6c06615c-3460-41ea-88fc-7dd2da80ae54.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fintech platform Octa has<\/strong><strong> secured a USD 20 mn credit facility to offer <\/strong><strong>embedded <\/strong><strong>working capital to Saudi SMEs from the Sukna Fund for Direct Financing (SFDF)<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/916.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The facility \u2014 set to launch in 3Q 2025 \u2014 will enable businesses to access short-term financing directly through Octa\u2019s \u201cfinancial operations layer\u201d platform, with automated repayments synced to their actual collections.<\/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 platform aims to address operational industry challenges<\/strong> \u2014 like poor visibility, inconsistent follow-through, and a lack of structured payment processes that make receivables difficult to manage \u2014 \u201cso finance stops being reactive and becomes a core part of how they run the business,\u201d COO Nupur Mittal told EnterpriseAM Saudi. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A snapshot of the process: <\/strong>The financing process requires no applications, with eligibility determined by a company\u2019s operational signals within Octa, such as invoicing and payment behavior, Mittal said. This real-time data is used by Octa\u2019s capital partner to make underwriting decisions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s being targeted: <\/strong>The company is seeing traction from Saudi SMEs in sectors like logistics, F&B supply, facilities management, marketing, and professional services, Mittal said, adding that these sectors face high operational complexity but have limited finance infrastructure. \u201cThese businesses often operate across multiple entities and currencies, with recurring B2B payments and delayed collections,\u201d he explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Octa's next moves: <\/strong>The UAE-based platform is aiming to develop AI-driven \u201cfinance agents\u201d to help SMEs automate decisions like follow-ups and payment terms. It is also expanding its embedded financing capabilities by building a regional capital infrastructure with banks and funds, Mittal said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Since launching in Saudi in 1Q 2025, OCTA has quadrupled its customer base to over 500 businesses \u2014 including Careem and ZenHR \u2014 and processed over USD 290 mn in invoices.<\/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-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/octa\/\">OCTA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sukna-fund-for-direct-financing-sfdf\/\">Sukna Fund for Direct Financing (SFDF)<\/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=\"97954\" 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=\"97954\">\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\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/18\/efg-hermes-to-double-down-on-saudi-with-new-services\/\">\r\n                            EFG Hermes KSA to launch securities lending, borrowing services in 3Q 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\/18\/efg-hermes-to-double-down-on-saudi-with-new-services\/\" 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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They also allow hedge funds, investors, and major financial institutions to implement arbitrage and hedging strategies when trading.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cAs the Kingdom's capital market continues to evolve, we aim to support liquidity, enhance market efficiency, and create new [prospects] for institutional investors,\u201d CEO Saud Altassan said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>EFG Hermes made a play for the Saudi market <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f7294831-9f92-4268-a757-8a1c9eccb0ec\" style=\"\" rel=\"noopener\">last November<\/a> with the launch of a USD 300 mn Saudi Education Fund, a few months after EFG Holding announced its plan to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8be3b57e-4cc8-466a-907f-ce8330c9d05c\" style=\"\" rel=\"noopener\">increase its staff in the Kingdom<\/a> by 30% to 47 employees amid a rush of IPO activities.<\/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\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/efg-hermes\/\">EFG Hermes<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"97956\" 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=\"97956\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/18\/riyadh-leads-saudi-startup-scene-charge-in-mena-startup-genome\/\">\r\n                            Riyadh, Jeddah, Al-Khobar Dammam rank in top 10 emerging startup markets                        <\/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\/18\/riyadh-leads-saudi-startup-scene-charge-in-mena-startup-genome\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Riyadh ranked third in the MENA region and jumped to the 21\u201330 range among the world\u2019s top 100 emerging startup ecosystems. Meanwhile, Jeddah landed in sixth place in the region, while the Al Khobar-Dammam hub landed ninth.<\/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>By the numbers: <\/strong>The capital now has the third most valued startup ecosystem in the region at USD 10 bn, while pulling in the third-largest early-stage funding volume at USD 508 mn from 2H 2022 until the end of 2024. Riyadh nurtured three unicorns, compared to a global average of four, while seed rounds logged a median of USD 1.3 mn over the same period, above the global average at USD 889k.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The drivers: <\/strong>Riyadh\u2019s rank jump was pushed by high marks in the Performance category, reflected in strong growth by the fintech, cybersecurity, and logistics and supply chain sub-sectors, on the back of strong market research among other factors, according to the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>A mix of private and public entities helped prop up the Saudi startup scene, chief among them the Investment, ICT, and Environment, Water, and Agriculture ministries, Monsha\u2019at, and the MISK Foundation, along with BIM Ventures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>The report highlights a burgeoning engineering-led startup development in Dhahran, pushed by the innovation output of King Fahd University of Petroleum and Minerals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Saudi investors were the most active in the region <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9abaf226-7101-4ade-84e7-8467a9858042\/saudi-arabia%25e2%2580%2599s-startup-ecosystem-ranks-38th-in-the-world\" style=\"\" rel=\"noopener\">last year<\/a>, accounting for 175 agreements and surpassing the US, the UAE, and Egypt, while Saudi startups attracted a total of USD 653.8 mn in funding in 2024, driven by three unicorns and four Y Combinator startups.<\/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\/riyadh\/\">Riyadh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startups\/\">Startups<\/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=\"97958\" 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=\"97958\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/18\/riyadh-air-picks-rolls-royce-engines-to-go-with-airbus-order\/\">\r\n                            Riyadh Air orders Rolls-Royce engines for new Airbus aircraft                        <\/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\/18\/riyadh-air-picks-rolls-royce-engines-to-go-with-airbus-order\/\" 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 agreement also included Rolls-Royce\u2019s TotalCare service, shifting maintenance cost and time-on-wing risks to Rolls-Royce.<\/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>ICYMI- <\/strong>Riyadh Air <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/246f3245-5b1f-42d3-aa93-a1edaf265c97\/\" style=\"\" rel=\"noopener\">locked in<\/a> an order for 25 Airbus A350-1000 aircraft during the Paris AirShow \u2014 with a possibility of increasing the order to 50 A350-1000, while PIF-owned aircraft lessor AviLease also tapped for 10 A350F freighter jets and 30 A320neo Family aircraft with an option to expand the total purchase order to 77 jets. While the total value of the orders were not disclosed, analysts estimated it could reach up to USD 16 bn, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-16\/airbus-kicks-off-air-show-with-sale-to-saudi-arabia-s-avilease\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Aic<\/strong><strong>tec<\/strong><strong> sells SAR 6 mn Sukuk: <\/strong><a target=\"_blank\" href=\"https:\/\/www.aictec.com\/home\" style=\"\" rel=\"noopener\">Advance International Company for Communication and<\/a><a target=\"_blank\" href=\"https:\/\/www.aictec.com\/home\" style=\"\" rel=\"noopener\">Information Technology<\/a> (Aictec) closed a SAR 6 mn murabaha sukuk offering at SAR 1k apiece via <a target=\"_blank\" href=\"https:\/\/www.dinar.sa\/en\/\" style=\"\" rel=\"noopener\">Dinar<\/a> Investment platform, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88152&anCat=1&cs=9524&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The 6k sukuk have variable maturity dates, ranging from three up to 36 months, while their annual return rates start at 12.8% for the three-month tranche and reach up to about 16% for the 36-month offering.<\/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>Riyadh-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.quarafinance.com\/en\/\" style=\"\" rel=\"noopener\">Quara Finance<\/a><\/strong><strong> secured a SAR 100 mn Sharia-compliant loan <\/strong><strong>from <\/strong><strong><a target=\"_blank\" href=\"http:\/\/shlfinance.com\/en\" style=\"\" rel=\"noopener\">SHL Finance<\/a><\/strong><strong>for three-years<\/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=88164&anCat=1&cs=9596&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The loan is secured by a promissory note and an assignment of receivables covering the facility with an excess of 20%. The new liquidity will be used to increase sales volume.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Quara Finance joined the parallel market Nomu <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/75cbba47-fa07-4605-bca8-4b78df5cc7d1\/%253cmark%253equara%253c%2Fmark%253e%253cmark%253e-finance%253c%2Fmark%253e-names-new-chairman\" style=\"\" rel=\"noopener\">early last year<\/a> after offering an 8.8% stake.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadco is gettin<\/strong><strong>g new electrical transmission station: <\/strong><a target=\"_blank\" href=\"https:\/\/tadco-agri.com\/en\/\" style=\"\" rel=\"noopener\">Tabuk Agricultural D<\/a><a target=\"_blank\" href=\"https:\/\/tadco-agri.com\/en\/\" style=\"\" rel=\"noopener\">evelopment<\/a><a target=\"_blank\" href=\"https:\/\/tadco-agri.com\/en\/\" style=\"\" rel=\"noopener\">Company<\/a> (Tadco) contracted Saudi Electricity Company\u2019s subsidiary National Electricity Transmission to build a 64 megavolt-ampere (MVA) electrical transmission station for its farm in Tabuk, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88115&anCat=1&cs=6040&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> on Sunday. The agreement \u2014 with an undisclosed investment ticket \u2014 runs until the project\u2019s completion or the end of 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An upgrade:<\/strong> Switching the farm from liquid fuels to the main electrical grid would qualify this project for the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2e0939b1-4d0d-44a9-8660-88bf9709b4c6\/positive-news-in-the-coming-weeks-will-ease-trade-tensions--al-jadaan#:~:text=The%20drop%20is%20in%20line%20with%20the%20Kingdom%E2%80%99s%20Liquid%20Displacement%20Program\" style=\"\" rel=\"noopener\">Kingdom\u2019s Liquid Displacement Program<\/a>, which aims to cap annual oil burn by over 1 mn bbl \/ d and usher in more gas and renewables in a bid to eliminate oil burn entirely by 2030.<\/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\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sidf.gov.sa\/en\/Pages\/Home.aspx\" style=\"\" rel=\"noopener\">Saudi In<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sidf.gov.sa\/en\/Pages\/Home.aspx\" style=\"\" rel=\"noopener\">dustrial Development Fund<\/a><\/strong><strong> (SIDF) signed a partnership agreement with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.investindustrial.com\" style=\"\" rel=\"noopener\">Invest Industrial Group<\/a><\/strong>, aiming to draw global institutional capital to the Kingdom and localize advanced industries, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2341370\" style=\"\" rel=\"noopener\">SPA<\/a> reports. The cooperation will focus on heavy equipment and machinery, automation, medical devices, food, and sustainable consumer products to improve access to global supply chains for local small- and medium-sized businesses.<\/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\">STARTUP WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.joa.capital\/\" style=\"\" rel=\"noopener\">Joa Capital<\/a><\/strong><strong> pa<\/strong><strong>rticipated in a USD 1.5 mn pre-seed funding for <\/strong><strong>UAE-based Software <\/strong><strong>Company<\/strong> <a target=\"_blank\" href=\"https:\/\/prop-ai.com\/\" style=\"\" rel=\"noopener\">Prop-AI<\/a>, led by Plus VC and accompanied by Select Ventures, Oraseya Capital, and Plug & Play, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/prop-ai-raises-15mln-in-pre-seed-funding-to-expand-its-ai-powered-real-estate-investment-platform-xttcthnp\" style=\"\" rel=\"noopener\">press release<\/a>. Prop-AI will use the liquidity to expand regional data integration, continue developing AI tech, and strengthen partnerships with real estate developers, brokerages, and financial institutions throughout the MENA region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Prop-AI: <\/strong>Prop-AI is an AI-powered platform founded in 2023 by Ranime El Skaff (<a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/in\/ranime-el-skaff-087b583b\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) and Christian Kunz (<a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/in\/ckunz\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) to provide actionable insight and investment-grade tools to real estate investors.<\/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\">CLIMATE-<\/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:\/\/vcm.sa\/en\/\" style=\"\" rel=\"noopener\">Voluntary Carbon Market Company<\/a><\/strong><strong> (VCMC) p<\/strong><strong>artnered with Neom\u2019s water <\/strong><strong>and energy<\/strong> <strong>subsidiary Enowa to deliver some 30 mn carbon credits by 2030<\/strong>, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2340638\" style=\"\" rel=\"noopener\">SPA<\/a> reports. The agreement aims to back financing for climate action projects in the Global South and elsewhere through the acquisition of high-integrity carbon credits.<\/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\/aictec\/\">Aictec<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alinma-bank\/\">Alinma Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/general-authority-of-civil-aviation-gaca\/\">General Authority of Civil Aviation (GACA)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-building-and-marketing\/\">National Building and Marketing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-electricity-transmission\/\">National Electricity Transmission<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/riyadh-air\/\">Riyadh Air<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sukuk\/\">sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tabuk-agricultural-development-company-tadco\/\">Tabuk Agricultural Development Company (TADCO)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/the-sidf-investment-company-sic\/\">The SIDF Investment Company (SIC)<\/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=\"97960\" 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=\"97960\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/18\/family-offices-shift-focus-to-private-credit\/\">\r\n                            Family offices shift focus to private credit and infrastructure amid faltering PE returns -BlackRock                        <\/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\/18\/family-offices-shift-focus-to-private-credit\/\" 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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Around 32% of the 175 surveyed say they plan to boost their allocations to the asset class this financial year, more than any other alternative investment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big names and numbers:<\/strong> Alternatives now account for 42% of family office portfolios, up from 39% in 2022-2023. In some cases, private credit alone makes up 15-30% of assets under management. UK b\u2019naires David and Simon Reuben, and Paul Allen\u2019s former family office have already jumped on the private credit bandwagon, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-17\/blackrock-says-super-rich-want-private-credit-as-pe-returns-lag?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. BlackRock is also putting real skin in the game, dropping USD 12.5 bn to acquire Global Infrastructure Partners and finalizing a USD 12 bn agreement to acquire private credit heavyweight HPS Investment Partners.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Infrastructure is part of the diversification drive: <\/strong>Over two thirds of family offices are moving to diversify their holdings, and 30% of respondents plan to increase allocations to infrastructure, drawn by the perceived resilience, stable cashflow, and inflation-linked income, tied to areas like decarbonization and AI-fueled data centers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s driving the shift? <\/strong>Traditional 60\/40 portfolios are faltering, and PE returns have disappointed. Family offices are gravitating toward asset classes that offer cashflow, downside protection, and attractive returns, rather than illiquid investments with long exit timelines. More than half of respondents are bullish on private credit\u2019s prospects, lured by the promise of higher yields, improved liquidity compared to private equity, and protection from public market swings. Global uncertainty and trade tariffs are also making family offices take a second look at their investment portfolios.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are still barriers to entry: <\/strong>Some 72% of family offices cited high fees as the biggest challenge of investing in private markets, up from 40% in the last report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And a lack of transparency:<\/strong> More than half flagged gaps in their internal expertise, especially in private-market analytics, dealsourcing, and reporting. Some are turning to outsourced chief investment officers or deep partnerships to get access to talent, tech, and hard-to-reach agreements. While 45% of family offices are investing in AI-linked options, only a third are using AI internally to improve investment processes due to concerns ranging from poor interpretability and data security to a lack of in-house expertise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still holding PE, but warily: <\/strong>While PE remains a major holding for many, some 70% of family offices have an either neutral or bearish approach, citing lackluster exits and delayed capital returns. In response, investors are favoring secondaries, co-investments, and bespoke structures like funds-of-one, and becoming increasingly selective when choosing managers amid high fees.<\/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\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are somewhat mixed this morning<\/strong>, as investor sentiment took a hit once again after a rebound across equity markets earlier this week. Japan\u2019s Nikkei, South Korea\u2019s Kospi, and China\u2019s CSI 300 are all up, but Hong Kong\u2019s Hang Seng lost 0.9% <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wall Street futures also point to a less than cheery sentiment<\/strong> as investors await the US Federal Reserve\u2019s interest rate decision today, and amid concerns that the US could join in on Israel\u2019s attacks on Iran. <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\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>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\">10,714<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.4% (YTD: -11.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,378<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1% (YTD: -8.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">26,458<\/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\">-0.8% (YTD: -15.9%)<\/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-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,726<\/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: +3.3%)<\/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>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\">9,536<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +1.3%)<\/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>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\">5,372<\/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: +4.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5983<\/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\">-0.8% (YTD: +1.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8834<\/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: +8.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5289<\/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: +8.0%)<\/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>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 76.45<\/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\">+4.4%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3.86<\/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-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3414.00<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-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 104,427.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.8% (YTD: +11.5%)<\/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>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\">911<\/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: +1.0%)<\/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>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\">144.29<\/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\">+0.04% (YTD: +3.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">21.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+13.0% (YTD: +24.5%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI <\/strong>fell 1.4% yesterday on turnover of SAR 5.0 bn. The index is down 11.0% 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> SRMG (+6.9%), Sabic Agri-Nutrients (+4.8%) and Zamil Indust (+4.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>MBC Group (-6.6%), ACWA Power (-6.0%) and Raoom (-5.1%).<\/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> fell 0.8% yesterday on turnover of SAR 45.2 mn. The index is down 15.9% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Alshehili Metal (+7.8%), Alnaqool (+7.4%) and Anmat (+5.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Jana (-16.6%), Time (-14.4%) and IOUD (-11.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/chubb.com.sa\/\" style=\"\" rel=\"noopener\">Chub<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/chubb.com.sa\/\" style=\"\" rel=\"noopener\">b Arabia Cooperative Ins.<\/a><\/strong><strong> secured approval from the Ins. Authority to raise its<\/strong> <strong>capital by SAR 100 mn to SAR 400 mn<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88140&anCat=1&cs=8240&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> on Monday. The increase will take place by issuing 1 bonus share for each existing 3 shares and will be funded from the company\u2019s retained earnings (SAR 52 mn) and reserves (SAR 48 mn).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aljazira <\/strong><strong>Takaful\u2019s general assembly approved a SAR 19.8 mn<\/strong><strong> dividend distribution for FY <\/strong><strong>2024 at SAR 0.30 per share<\/strong>, with payouts set to begin on 6 July, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88149&anCat=1&cs=8012&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/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\/blackrock\/\">BlackRock<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/family-offices\/\">Family offices<\/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\/investment\/\">Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/private-credit\/\">private credit<\/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=\"97962\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/18\/97962\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-97962\" class=\"content-area-description single-story post-97962 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>Korea\u2019s Kexim backs Saudi solar project | Octa to bolster SME lending in Saudi | EFG Hermes KSA launches new services<\/p>\n","protected":false},"featured_media":97943,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-97942","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5f38aef2-ccf0-46a0-8087-79e38676cfd3","teaser":"Korea\u2019s Kexim backs Saudi solar project | Octa to bolster SME lending in Saudi | EFG Hermes KSA launches new services","photo_url":"https:\/\/ent.news\/2025\/6\/982.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The GCC could see short-term gains from the Iran-Israel conflict. 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