{"id":98193,"date":"2025-06-26T00:00:00","date_gmt":"2025-06-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=98193"},"modified":"2025-12-14T21:21:53","modified_gmt":"2025-12-14T21:21:53","slug":"oil-exports-dropped-to-an-almost-four-year-low-in-april-while-non-oil-exports-rose","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/oil-exports-dropped-to-an-almost-four-year-low-in-april-while-non-oil-exports-rose\/","title":{"rendered":"Oil exports dropped to an almost four-year low in April, while non-oil exports rose"},"content":{"rendered":"<section id=\"98195\" 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=\"98195\">\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\/26\/dar-al-arkan-kicks-off-intl-sukuk-issuance\/\">\r\n                            THIS MORNING: Dar Al Arkan kicks off int\u2019l sukuk issuance                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/26\/dar-al-arkan-kicks-off-intl-sukuk-issuance\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Market jitters caused by oil price volatility and US tariffs caught up with our trade data in April, leading oil exports to drop to a nearly 4-year low, while non-oil exports remained on a growth trajectory. Meanwhile, Specialized Medical Company saw a muted debut on Tadawul\u2019s main market yesterday, following in the footsteps of Flynas and United Carton.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>S&P revised our GDP growth forecasts for the next few years, and the Capital Markets Authority is out with its statistical bulletin for 1Q 2025. Let\u2019s dive in.<\/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- Riyadh<\/strong> is expected to see a high of 43\u00b0C and a low of 29\u00b0C today, while <strong>Jeddah<\/strong>\u2019s mercury will go as high as 40\u00b0C and as low as 29\u00b0C.<strong> Makkah<\/strong> will see a 42\u00b0C high and 34\u00b0C low.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u26a0\ufe0fGet ready for summer: <\/strong>Temperatures in parts of Jazan, Najran, Riyadh, Eastern Province, Qassim, Hail, and the Northern Borders rose by an average of 8\u00b0C this June, the National Center for Meteorology said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/1488.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>. July is forecast to see an additional increase of up to 1\u00b0C, with August predicted to be the hottest month, likely bringing temperatures up by as much as 1.2\u00b0C in parts of Al Jawf, Hail, Qassim, Tabuk, and the Eastern Province.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <a id=\"wwtt1\"><\/a> #1- <\/strong><strong>Dar Al Arkan kicks off int\u2019l sukuk issuance:<\/strong> Tadawul-listed property developer and operator <a target=\"_blank\" href=\"https:\/\/www.daralarkan.com\/\" style=\"\" rel=\"noopener\">Dar Al Arkan Real Estate Development<\/a> has opened books on its five-year <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/91b4b0ed-fbaf-45c6-aa82-8eaa3a2f325c\/dar-al-arkan-eyes-int%25e2%2580%2599l-sukuk-issuance-%2B--fakeeh-care-lines-up-fresh-financing-from-alinma-bank\" style=\"\" rel=\"noopener\">USD-denominated senior unsecured sukuk<\/a>, with initial price thoughts (IPTs) in the 7.75% area, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/capital-markets\/bonds\/ipts-out-for-saudi-dar-al-arkans-usd-sukuk-akqz2v6r\" style=\"\" rel=\"noopener\">Zawya<\/a> reported 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 Reg S-compliant sukuk will be listed on both the London Stock Exchange and Nasdaq Dubai, with a fixed rate paid semi-annually. The Shariah-compliant notes, which are structured as an Ijara-commodity Murabaha, are expected to be rated B1 by Moody\u2019s.<\/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, Abu Dhabi Islamic Bank, Alkhair Capital, Al Rayan Investment, Arqaam Capital, Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, JP Morgan, Mashreq, Sharjah Islamic Bank, Standard Chartered Bank, and Warba Bank are joint lead managers and bookrunners on the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> #2- <\/strong><strong>BSF looks east for USD multi-mn syndicated loan: <\/strong>Banque Saudi Fransi (BSF) is looking to tap Asian lenders for a USD 750 mn 5-year syndicated loan to cover its general corporate expenses, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-25\/banque-saudi-fransi-targets-banks-in-asia-for-750-million-loan\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported yesterday, citing people it says are familiar with the matter. The facility is said to carry a margin of 95 bps over SOFR and includes an accordion feature that would allow the Tadawul-listed lender to upsize the financing amount after signing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong>BSF reportedly mandated Mizuho Bank and Sumitomo Mitsui Banking as lead arrangers and bookrunners on the potential transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> #3- <\/strong><strong>Red Sea subsidiary lines up IPO: <\/strong>Tadawul-listed Red Sea International is preparing to list its electrical contracting arm, <a target=\"_blank\" href=\"https:\/\/www.firstfix-ksa.com\/\" style=\"\" rel=\"noopener\">Fundamental Installation for Electrical Work<\/a> (First Fix), the parent company said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88347&anCat=1&cs=4230&locale=en\" style=\"\" rel=\"noopener\">a disclosure<\/a> to the bourse yesterday. It is unclear whether First Fix intends to IPO on Tadawul\u2019s main or parallel market, with further developments to be announced at a later stage. The potential offering is still pending regulatory and general assembly approval. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><strong>One more Tadawul listing on the way: <\/strong>Car rental company Cherry Trading got the green light from the Capital Markets Authority (CMA) for listing a 30% stake on the main market, the CMA said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details\/?1dmy&urile=wcm:path:\/Tadawul_en\/SA-Tadawul\/SA-PricesAndIndeces\/SA-News\/SA-MarketNews\/CT-marketnews-%20CMA%2025-06-2025\" 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- Tadawul is sitting on a packed IPO pipeline: <\/strong>The main market is set to welcome a handful of IPOs in the near future, including <a target=\"_blank\" href=\"https:\/\/www.marketing-home.com\/\" style=\"\" rel=\"noopener\">Marketing Home Group<\/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#:~:text=The%20Capital%20Market%20Authority%20(CMA)%20greenlit%20five%20IPOs%20on%20Thursday\" style=\"\" rel=\"noopener\">Dar Al Majed<\/a>,and <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#:~:text=Two%20new%20IPOs%20get%20regulatory%20clearance\" style=\"\" rel=\"noopener\">Ejada Systems<\/a>, among many others. Meanwhile, the CMA has cleared <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e1b88ea8-1526-4953-a008-03cd6a66ce8d\/%253cmark%253e%253c%2Fmark%253eus%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253estrikes%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eiran%253cmark%253e%253c%2Fmark%253e#:~:text=The%20subscription%20period%20for%20Naf%20Company%20for%20Feed%20Industry%E2%80%99s%20IPO%20on%20the%20Nomu%20parallel%20market%20will%20run%20from%20today%20until%20Thursday%2C%2026%20June\" style=\"\" rel=\"noopener\">Naf Company for Feed Industry<\/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#:~:text=Two%20companies%20secure%20approval%20for%20Nomu%20IPO\" style=\"\" rel=\"noopener\">Qudra for Communications and IT<\/a>, the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6ea45baa-968f-4f7d-bd54-14ea11eb0dc2\/investors-eyes-minority-stake-in-arizona-mine-%2B-russia,-ukraine-back-to-riyadh-for-ceasefire-talks#:~:text=The%20Capital%20Market%20Authority%20(CMA)%20greenlit%20five%20IPOs%20on%20Thursday\" style=\"\" rel=\"noopener\">National Signage Industrial Company<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0513a66d-5ab7-4ca7-b39b-dd4bbe95d1c2\/umm-al-qura-for-development-to-debut-on-the-main-market-today#:~:text=Al%20Mufarrej%20said.-,CMA%20gives%20all%2Dclear%20for%20Wajd%20Life%E2%80%99s%20listing%20on%20Nomu,-%3A%20Medical%20equipment\" style=\"\" rel=\"noopener\">Wajd<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6ea45baa-968f-4f7d-bd54-14ea11eb0dc2\/investors-eyes-minority-stake-in-arizona-mine-%2B-russia,-ukraine-back-to-riyadh-for-ceasefire-talks#:~:text=The%20Capital%20Market%20Authority%20(CMA)%20greenlit%20five%20IPOs%20on%20Thursday\" style=\"\" rel=\"noopener\">Hamad Mohammed Bin Saedan Real Estate<\/a> to list on Nomu.<\/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>#4- <\/strong><strong>Aslak buys more time to close Al Raeda share swap:<\/strong> Tadawul-listed <a target=\"_blank\" href=\"https:\/\/unitedwires.com.sa\/en\/\" style=\"\" rel=\"noopener\">United Wire Factories<\/a><a target=\"_blank\" href=\"https:\/\/unitedwires.com.sa\/en\/\" style=\"\" rel=\"noopener\"><\/a> (Aslak) extended its MoU to acquire 40% of Jeddah-based Al Raeda Industrial Investment by way of a share swap, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88371&anCat=1&cs=1301&locale=en\" style=\"\" rel=\"noopener\">a disclosure to the exchange<\/a> released yesterday. Aslak now has until the end of the year (Wednesday, 31 December) to wrap up due diligence procedures, and square away regulatory requirements.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The pair inked a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/fc96ab9b-4d74-4ce5-a340-406f53f88606\/savola-foods-exits-iran-in-sar-705-mn-play#:~:text=Tadawul%2Dlisted%20Aslak%20eyes%20stake%20in%20Al%20Raeda\" style=\"\" rel=\"noopener\">non-binding MoU<\/a> for the potential buyout late last year, which will see Aslak receive Al Raeda shares in exchange for issuing new shares to the latter\u2019s selling shareholders at SAR 29.7 a piece. <\/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- S<\/strong><strong>mall grocery stores are now banned from selling tobacco, dates, meat<\/strong><strong>, fruits and <\/strong><strong>vegetables<\/strong>, under new rules issued by Municipalities and Housing Minister Majid Al Hoqail, <a target=\"_blank\" href=\"https:\/\/www.saudigazette.com.sa\/article\/652911\" style=\"\" rel=\"noopener\">Saudi Gazette<\/a> reported on Tuesday. These items can be sold in supermarkets and hypermarkets, though meat sales require a separate license. The decision takes effect immediately, with a six-month grace period for existing shops.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Consumer spending via point-of-sale (PoS) transactions in the Kingdom was down 1.5%<\/strong> <strong>w-o-w in the week ending 21 June, reaching SAR 10.9 bn<\/strong>, according to the Saudi Central Bank\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/1499.pdf\" style=\"\" rel=\"noopener\">weekly report (pdf)<\/a>. The number of weekly transactions also fell 0.6% w-o-w to SAR 202.5 mn during the week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Food and beverages made up the bulk of consumers\u2019 spending during the week in terms of value, but experienced a 7.2% fall w-o-w to SAR 1.6 bn. Restaurants and caf\u00e9s came in second place, but also fell 14.3% w-o-w to just over SAR 1.5 bn. This was followed by gas stations spending, which dropped 5.1% w-o-w to just SAR 813.5 mn, and healthcare, which increased 16.8% w-o-w to SAR 712.6 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh had the highest value of PoS transactions at just over SAR 3.9 bn<\/strong>, followed by Jeddah at just under SAR 1.6 bn.<\/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- T<\/strong><strong>he Social Development Bank distributed some SAR 4.3 bn in financing in<\/strong><strong> 1H 2025 to <\/strong><strong>43k citizens across the Kingdom<\/strong>, with SAR 1.8 bn going to 18k freelancers and productive families, SAR 1.5 bn to 5k SMEs, and SAR 1 bn in social financing to 20k citizens, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2346717\" style=\"\" rel=\"noopener\">SPA<\/a> reported yesterday. Some 40k fresh savings accounts were opened during the same period as well.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>The Interior Ministry\u2019s Absher platform processed over 42.6 mn digital <\/strong><strong>transactions in <\/strong><strong>May<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.absher.sa\/wps\/portal\/individuals\/Home\/homepublic\/contents\/!ut\/p\/z1\/rVNdc9owEPwrzQOPHp3Otiw_GkNkIBnABBL8wshfRS0YAi5u_n1FaEqSAmam1Yw8krx70t7tkYg8kaiQO_VVlmpVyIXeTyM2Y3jn04Bjr__QcmHYcxy4xwEFAPL4CoCOZQXUwp4AhuBNQm61OzYVzCLR_veZ4b3x_1wAE9aCYRsH3L6lCEgP_LfwfWi2wPNcGLB2G0HU8TvsOr7tD_wOvzepGIwdwFvH6vqsJybg1PEnJCJRUpTrck6myaoos6LcNkAVqdqp9IdcbL_ITQOKrNoevnqbzNUua4CMt_NsM9OHM7QMYIbWa8uZ3OxDrhOVkqnD0aRxyow05qlhua40XJmbepU7ekouTfa5BH-_cS9BUOoFKOBOiBBh6HvUdLwm5dT-zb8AiK6xwAVArQWiExAPmiE2TQDRx5OADzGij488YYNXwIU6j3Tep1qJc8wkhGFzn0l3JIKRvgfJ405lFRkXq81SN8foWKgMnZjKxDZo7tqGJRGM2JK5wVGyJKUu0hhJAKRb5yfdcOrb83PkaVft3fSzJE__ZCvzaKuDvLOFMs_Lu8qH3Tqj_Hdt71pmvRzrseTmi1LG9zCoqod8vtgt_Zi_VN7NzS-n3-RI\/dz\/d5\/L2dBISEvZ0FBIS9nQSEh\/\" style=\"\" rel=\"noopener\">statement<\/a> released on Tuesday. \u0650The Absher Individuals app saw 39.4 mn operations, topped by digital wallet document reviews (31.7 mn transactions), while the Absher Business platform saw 3.1 mn operations.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> and  <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">climate<\/a>  industries?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two big stories are getting plenty of ink in the foreign press this morning:<\/strong> Nato\u2019s agreement to hike security spending, and the latest around Iran, from how much damage the US\u2019 strikes on its nuclear facilities actually inflicted to what\u2019s next for the nuclear agreement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>From the Hague, Nato agreed to increase spending to 5% of GDP<\/strong> \u2014 up from 2% as of this year \u2014 and renewed their \u201cironclad commitment\u201d to security in a show of strength that pushes back against Russia. The move to hike spending is understood to be great news for US President Donald Trump, who has been calling on his European allies to increase spending on security. Trump also met with Ukrainian President Volodymyr Zelenskiy on the sidelines of the summit, as he looks to secure more US weapons. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-25\/nato-leaders-endorse-historic-plan-to-boost-defense-spending?srnd=homepage-middle-east&embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/nato-leaders-set-back-trump-defence-spending-goal-hague-summit-2025-06-24\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/59713110-f652-4312-aa83-783b86274c44\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2025\/jun\/25\/trump-praises-nato-states-as-summit-prepares-to-lift-defence-spending-target\" style=\"\" rel=\"noopener\">Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2025\/06\/25\/us\/trump-nato-news\" style=\"\" rel=\"noopener\">New York Times<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over in Iran, speculation continues around the extent of damage on its nuclear facilities following the US\u2019 attacks on three of its sites<\/strong>, with Trump asserting that the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9e61c17c-b8dd-44e7-9820-ea9382aa0797\/this-morning:-canada-in-talks-with-the-uae-over-ai-investments-%2B-taxi-stablecoin-payments-are-now-a-thing-in-abu-dhabi\" style=\"\" rel=\"noopener\">intelligence report<\/a> from a day earlier was inconclusive and that the damage was actually severe. Iran\u2019s Foreign Ministry spokesperson Esmail Baghaei later said the sites were \u201cbadly damaged\u201d in a TV interview. It\u2019s still unclear how badly they were hit, with some sources saying the nuclear program was set back only a few months\u2019 time, and others \u2014 namely, Israel \u2014 saying it\u2019s years. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-25\/iran-says-nuclear-sites-badly-damaged-by-us-ap-reports?srnd=homepage-middle-east&embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/trump-announces-israel-iran-ceasefire-2025-06-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Trump said Iran and the US will meet next week<\/strong>, saying a nuclear agreement could be on the table but that it might not be necessary given the damage that had already been inflicted on Iran\u2019s nuclear program. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-25\/trump-says-us-iran-to-hold-talks-next-week-mideast-war-over?srnd=homepage-middle-east&embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2025\/06\/25\/world\/iran-israel-ceasefire-trump\" style=\"\" rel=\"noopener\">NYT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2025\/06\/25\/trump-iran-meeting-nuclear-deal-israel\" style=\"\" rel=\"noopener\">Axios<\/a>)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/dar-al-arkan\/\">Dar Al Arkan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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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\/26\/oil-exports-dropped-to-an-almost-four-year-low-in-april-while-non-oil-exports-rose\/\">\r\n                            Oil exports down over 20% in April + non-oil exports up 6.8%                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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        <\/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\/26\/oil-exports-dropped-to-an-almost-four-year-low-in-april-while-non-oil-exports-rose\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1542.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98199\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/26\/oil-exports-dropped-to-an-almost-four-year-low-in-april-while-non-oil-exports-rose\/1542-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1542.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1542.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1542.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1542.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98198\" class=\"content-area-description single-story post-98198 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-ksa tag-japan tag-non-oil-economy tag-trade tag-uae tag-us 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\/.7c3cc036-a401-4146-a484-98257a052903.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Oil exports dip to 4-year low in April: <\/strong>The Kingdom\u2019s oil exports dropped 21.2% y-o-y to SAR 61.96 bn in April, its lowest level since June 2021, according to preliminary data from the <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/1474.pdf\" style=\"\" rel=\"noopener\">General Authority for Statistics (Gastat) (pdf)<\/a>. Oil\u2019s share of total exports also dropped by 8.9 percentage points y-o-y to 68.6%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The drivers: <\/strong>April saw the markets receive a double hit, between Trump announcing sweeping tariffs and Saudi Arabia leading a sharp acceleration in Opec+ output hikes, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-25\/saudi-oil-export-revenue-slumps-to-lowest-in-almost-four-years\" style=\"\" rel=\"noopener\">Bloomberg<\/a> analysts. The oil group announced a long-delayed plan to gradually return 2.2 mn bbl \/ d of oil to the market over 18 months in April.<\/p>\n<p dir=\"rtl\" style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1518.png?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Higher pressures: <\/strong>Lower oil prices \u2014 around the USD 65\/bbl level \u2014 increase the risk of widening budget deficits and higher public debt levels, Mohamed Abu Basha, head of macro analysis at EFG Hermes, told Bloomberg. \u201cSuch pressures are manageable in the short-term, considering the kingdom\u2019s strong balance sheet and access to credit. Low oil price for longer would most likely require a combination of a revisit to spending plans and implementation of fiscal consolidation measures,\u201d Abu Basha added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Proceeding with caution: <\/strong>The drop in oil revenues \u2014 coupled with global uncertainty \u2014 will see the Kingdom \u201ctake stock\u201d of its spending priorities as it moves forward with capital-intensive Vision 2030 development projects, Finance Minister Mohammed Al Jadaan told Financial Times <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/09abb8d4-ce18-4ffb-9194-0b0ab1b0e550\" style=\"\" rel=\"noopener\">earlier in May<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE NON-OIL SITUATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Non-oil merchandise exports rose 6.8% y-o-y to <\/strong><strong>some SAR 17.7 bn <\/strong><strong>in April 2025<\/strong>. Total non-oil exports \u2014 including re-exports \u2014 surged 24.6% y-o-y, bolstered by a 72% increase in re-exports value, despite a 10.9% decrease in merchandise exports during the same period. Meanwhile, imports grew 18.3% to about SAR 76.1 bn, and the surplus of the merchandise trade balance abated 61.7%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Non-oil exports remained higher than imports<\/strong>, with the ratio rising to 37.2% in April, compared to 35.4% in the same month a year ago.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plastics, rubbers, and their derivatives, making up 21.7% of non-oil exports, logged a 4% <\/strong><strong>y-o-y increase.<\/strong> Chemical products, which comprised 21% of non-oil exports, inched up 2.3% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Machinery, electrical equipment, and parts were the most sought after by importers<\/strong>, increasing 25.4% y-o-y to nearly SAR 21.1 bn, and accounting for 27.7% of total imports. Transportation equipment and parts followed recorded a 64.5% y-o-y increase to around SAR 13.1 bn, with a 17.2% share.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China still tops the trade list:<\/strong> The Kingdom\u2019s merchandise exports to China made up 12.6% of our total exports in April 2025, followed by Japan (10.1%) and the UAE (9.8%). Meanwhile, Chinese goods accounted for 25% of total imports over the same period, followed by the US (7.5%) and the UAE (6.8%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/non-oil-economy\/\">Non-oil economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/us\/\">US<\/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=\"98200\" 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=\"98200\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/26\/smc-sheds-over-3-in-another-lackluster-tadawul-debut\/\">\r\n                            SMC\u2019s IPO prove another muted Tadawul debut                        <\/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\/26\/smc-sheds-over-3-in-another-lackluster-tadawul-debut\/\" 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 slump makes SMC the third company this year to close the first day of trading on the main market below its IPO price, joining Flynas <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b60ff1b1-9ca1-4711-9287-69daf15caa77\/flynas-slides-on-tadawul-debut-amid-geopolitical-tensions\" style=\"\" rel=\"noopener\">(-3.4%)<\/a> and United Carton Industries (UCIC) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3f626ba2-0121-45c3-8bc6-aaac59926c11\/united-carton-industries%25e2%2580%2599-ipo-sees-muted-debut-on-tadawul\" style=\"\" rel=\"noopener\">(-1.5%)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company\u2019s shares will still be subject to the usual Tadawul debut rules<\/strong> \u2014 a 30% price fluctuation cap and a static 10% band over the first three sessions, followed by a 10% daily circuit breaker onwards.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>SMC took a 30% stake to market in a secondary offering that was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1831250a-4274-4742-a3e9-0a07f4f67005\/%253cmark%253esmc%253c%2Fmark%253e-prices-ipo-at-sar-25-per-share-ahead-of-tadawul-listing\" style=\"\" rel=\"noopener\">65x oversubscribed<\/a> by institutional investors and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9972894f-01bd-49eb-a9ff-05db13e6a267\/specialized-medical-company%25e2%2580%2599s-retail-offering-was-1.45x-oversubscribed\" style=\"\" rel=\"noopener\">1.45x oversubscribed<\/a> by retail investors. Shares were priced at SAR 25 each \u2014 the top of the indicative range \u2014 implying a market cap of SAR 6.3 bn at listing and raising SAR 1.9 bn for the selling shareholders (minus transaction-related costs).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bad timing? <\/strong>The offering landed just as Tadawul is closing one of its weakest quarters on record, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b78ed4c1-b932-46b3-a231-b0efad9ac2ca\/tadawul-posts-biggest-monthly-loss-this-year-in-may\" style=\"\" rel=\"noopener\">shedding 4.8%<\/a> in May amid slumping <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-25\/saudi-oil-export-revenue-slumps-to-lowest-in-almost-four-years\" style=\"\" rel=\"noopener\">oil prices<\/a>, rising concerns over fiscal spending, and a broader flight from risk across Gulf markets. The Israel-Iran conflict and renewed US tariff threats <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5e288307-129d-428a-a8ec-a931b36ab01c\/markets-rebound,-but-oil-jitters-and-war-risks-keep-nerves-taut\" style=\"\" rel=\"noopener\">added to the uncertainty<\/a>, signaling wider investor caution rather than company-specific drawdowns.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Part of the lackluster performance may be chalked up to transaction mechanics<\/strong>. The stock\u2019s top-end pricing may have left little room for upside, and the fact that it was a secondary offering (with no new capital injected into the business) may have curbed investor appetite. Retail demand was also more subdued than institutional interest, suggesting the investor base that typically drives first-day momentum wasn\u2019t fully on board.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The weak debut marks a rare miss in the Kingdom\u2019s healthcare IPO space<\/strong>, which has largely been a hotbed for first-day pops. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/54679739-bcbc-4ab5-865d-8dd922d3a1d7\/\" style=\"\" rel=\"noopener\">Almoosa Health<\/a> \u2019s stock gained 15% on debut in January, while <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f20466e7-fb45-4235-8cfd-2d27b3b9e797\/%253cmark%253efakeeh-care%253c%2Fmark%253e-shares-rise-10%2525-in-tadawul-debut\" style=\"\" rel=\"noopener\">Fakeeh Care\u2019s<\/a> shares were up 10% in one of the largest IPOs last year. Al Hammadi and Saudi German Healthcare led the way with high-profile IPOs a few years ago, with <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-02-27\/pediatrician-pads-his-fortune-with-5-billion-health-care-ipo\" style=\"\" rel=\"noopener\">Dr Sulaiman Al Habib<\/a>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-pharmacy-firm-nahdi-soars-debut-vs-ipo-price-2022-03-22\/\" style=\"\" rel=\"noopener\">Nahdi Medical<\/a>, and drugmakers <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-25\/saudi-arabia-s-biggest-ipo-of-the-year-prices-at-top-of-range\" style=\"\" rel=\"noopener\">Jamjoom Pharma<\/a> \u2014 Tadawul\u2019s biggest IPO of 2023 \u2014 and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c6446c1b-9de2-48e0-be5a-1b6eca08df40\/%253cmark%253eavalon%253c%2Fmark%253e-pharma-to-make-tadawul-debut-tomorrow\" style=\"\" rel=\"noopener\">Avalon Pharma<\/a> in 2024 all following suit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The main market IPO pipeline remains hefty<\/strong>, but <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4c4843ee-5ee6-4a01-88d2-69deee6fb89f\/saudi-arabia-is-the-official-host-of-expo-2030#:~:text=Large%20listings%20could%20face%20delays\" style=\"\" rel=\"noopener\">may be facing delays<\/a> due to the broader market jitters born out of the Israel-Iran war:<\/p>\n<ul>\n<li><strong>Companies that have yet to move beyond receiving the CMA\u2019s approval include <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c75bd9e4-491a-4125-98c9-5b6a1efda40f\/ev-maker-lucid-will-export-92%2525-of-its-production-%2B-cma-approves-ipos-on-tadawul,-nomu\" style=\"\" rel=\"noopener\">Marketing Home Group<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/07ff1274-1227-4bc4-ad24-e65a552987c6\/aramco-reportedly-acquires-primax,-expands-into-peru%25e2%2580%2599s-fuel-market\" style=\"\" rel=\"noopener\">Dar Al Majed<\/a> ;<\/li>\n<li><strong>Meanwhile, <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/818c5d9d-7cee-447d-bd35-c9f1d1e15fca\/this-morning:-specialized-medical-company-lands-on-tadawul-today-%2B-jadwa-to-fully-divest-from-unipharma%3F\" style=\"\" rel=\"noopener\">Ejada Systems<\/a>, which missed its six-month IPO window, is set to resubmit an IPO application to the CMA; <\/li>\n<li><strong>Companies that tapped banks for potential IPOs include <\/strong>the PIF-backed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d0a3467a-abf0-4f2c-8d69-2b65e3040ff1\/pif%25e2%2580%2599s%253cmark%253e-saudi-global-ports%253c%2Fmark%253e-taps-banks-for-potential-ipo\" style=\"\" rel=\"noopener\">Saudi Global Ports<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8a3c56cc-ebf9-417c-8382-0816af5b9a75\/real-madrid-vs-barcelona-at-king-abdullah-sports-city-today\" style=\"\" rel=\"noopener\">Tabreed District Cooling<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1c55c7a4-ce77-4a0c-a7bd-1ad23a8256e0\" style=\"\" rel=\"noopener\">Medical procurement firm Nupco<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e94781b0-45da-48a8-afe3-89c2b6a7897a\/future-minerals-forum-kicks-off-today\" style=\"\" rel=\"noopener\">Riyad Capital<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2b55cbd6-eb2f-4596-8f56-69fabca00764\/%253cmark%253etabby%253c%2Fmark%253e-taps-advisors-for-potential-ipo-%2B-phytome-mulls-move-to-saudi\" style=\"\" rel=\"noopener\">BNPL platform Tabby<\/a> ;<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/da4a0977-cdfd-49e8-8fec-7c6012175500\/al-ramz-real-estate-eyes-tadawul-ipo-before-year-end\" style=\"\" rel=\"noopener\">Alramz Real Estate<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c0fa5b7d-e56a-4950-a07a-d8ad1456d854\/teslas-will-be-available-for-sale-in-saudi-arabia-next-month\" style=\"\" rel=\"noopener\">Al Othaim Investment<\/a> announced plans to float a 30% stake on Tadawul this year;<\/li>\n<li><strong>F&B players Barns, Half Million, Deemah, and Hashi Bashi <\/strong>are said to be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/03e87751-b8eb-41af-9041-b9414c742b39\/neom-to-confirm-aiman-al-mudaifer-as-ceo%3F\" style=\"\" rel=\"noopener\">sounding out banks<\/a> for potential debuts on the main market; <\/li>\n<li><strong>Almosafer<\/strong> is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6e69fe20-d984-43b1-9a85-3103ab156bcb\/non-oil-sector-in-the-kingdom-remains-resilient--fitch\" style=\"\" rel=\"noopener\">preparing<\/a> for a public listing on Tadawul by late 2025 or early 2026; <\/li>\n<li><strong>PIF-backed CloudKitchens <\/strong>is reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6e69fe20-d984-43b1-9a85-3103ab156bcb\/non-oil-sector-in-the-kingdom-remains-resilient--fitch\" style=\"\" rel=\"noopener\">eyeing an IPO<\/a> in the Kingdom or the UAE (or both); <\/li>\n<li><strong>Meal subscription startup Calo<\/strong> is also said to be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f6ab4e19-978b-4a59-9c3d-1bbaa1fddac1\/%253cmark%253ecalo%253c%2Fmark%253e-steps-into-uk-with-fresh-fitness-food,-detox-kitchen-acquisition.-plus:-cma-approves-al-rajhi%25e2%2580%2599s-sar-10-bn-debt-issuance\" style=\"\" rel=\"noopener\">eyeing an IPO<\/a> here at home by 2027.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/specialized-medical-company\/\">Specialized Medical Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tadawul\/\">Tadawul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98202 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=\"98202\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/26\/98202\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98202\" class=\"content-area-description single-story post-98202 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\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=\"98203\" 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=\"98203\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/26\/sp-revises-up-gdp-growth-forecasts-for-2025\/\">\r\n                            Kingdom\u2019s 2025 GDP growth revised up to 3.7% \u2014 S&amp;P Global                        <\/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\/26\/sp-revises-up-gdp-growth-forecasts-for-2025\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            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href=\"https:\/\/api.whatsapp.com\/send?text=S%26%23038%3BP+revises+up+GDP+growth+forecasts+for+2025+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F06%2F26%2Fsp-revises-up-gdp-growth-forecasts-for-2025%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\/26\/sp-revises-up-gdp-growth-forecasts-for-2025\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/95.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98204\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/26\/sp-revises-up-gdp-growth-forecasts-for-2025\/95-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/95.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"95.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/95.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/95.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98203\" class=\"content-area-description single-story post-98203 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-ksa tag-gdp tag-non-oil tag-sp-global 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\/.ece5d452-f763-41f7-9fe3-d0edf57eb425.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>S&P Global Ratings raised<\/strong><strong> forecasts for the Kingdom\u2019s GDP growth by 0.2 percentage <\/strong><strong>points to 3.7% in 2025<\/strong>, citing an increase in the country\u2019s oil production to 9.5 mn bbl \/ d starting July, up from 9 mn in 1H 2025, the agency said in its <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/ratings\/en\/research\/articles\/250624-economic-outlook-emerging-markets-q3-2025-tariffs-direct-impact-is-modest-so-far-but-indirect-effect-will-101629151\" style=\"\" rel=\"noopener\">Economic Outlook Emerging Markets report<\/a> published on Tuesday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outlook isn\u2019t as positive for the next two years:<\/strong> The agency also lowered its GDP growth forecast for 2026 by 0.3 percentage points to 3.9%, and brought down its forecasts for 2027 to 3.2%, and for 2028 to 3.1%. The revisions were attributed to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/71c69877-056f-48da-a8c8-b58da122974c\/gastat-is-revising-our%253cmark%253e-gdp%253c%2Fmark%253e-figures\" style=\"\" rel=\"noopener\">the revised GDP methodology<\/a> by the Kingdom\u2019s General Authority of Statistics (Gastat). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Gastat <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/807cd9e9-2fb0-45ed-848f-44eecd3652c1\/%253cmark%253egdp-growth%253c%2Fmark%253e-revised-up-to-3.4%2525-in-1q-2025\" style=\"\" rel=\"noopener\">recently updated<\/a> its nominal and real GDP historical data over 2011-2024 as part of a revision project that looks to better capture economic transformation, with more detailed insights over the performance of key sectors in the economy. GDP growth during 1Q 2025 was hence revised upwards to 3.4% y-o-y from the 2.7% figure reported back <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1a2b91ca-c775-4103-91d2-45d0ff545d79\/%253cmark%253egdp%253c%2Fmark%253e-grows-2.7%2525-in-1q-2025-%2B-gastat-updates-2023-figures-amid-wider-revisions\" style=\"\" rel=\"noopener\">in May<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Under the new GDP series<\/strong>, \u201c2024 non-oil GDP increased by around 20% in nominal terms, which in turn automatically implies a smaller effect of Vision 2030 investments in relative terms, and therefore, smaller effect on headline GDP growth,\u201d the report reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More optimistic than other predictions:<\/strong> The World Bank kept its GDP growth forecasts unchanged <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4827c48b-6065-4641-a0cb-7a2883434ae6\/%253cmark%253e%253c%2Fmark%253eworld%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ebank%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ekeeps%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253egdp%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253egrowth%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eforecast%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eunchanged%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eat%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e2%253cmark%253e%253c%2Fmark%253e.%253cmark%253e%253c%2Fmark%253e8%253cmark%253e%253c%2Fmark%253e%2525%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e2025%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">earlier this month<\/a> for the Kingdom at 2.8% in 2025 and 4.5% in 2026. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cd3b3dff-ad01-4594-9bf6-0a2097b65bd7\/imf-slashes-the-kingdom%25e2%2580%2599s-growth-prospects\" style=\"\" rel=\"noopener\">In April<\/a>, the IMF cut its forecasts for the Kingdom\u2019s GDP growth in 2025 to by 0.3 percentage points to 3%, and by 0.4 percentage points to 3.7% in 2026, compared to its January estimates. The downward revisions reflect ongoing uncertainty around oil production levels and the pace of non-oil sector expansion.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/non-oil\/\">non-oil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sp-global\/\">S&amp;P Global<\/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=\"98205\" 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=\"98205\">\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\/26\/capital-markets-remain-robust-in-1q-2025\/\">\r\n                            How the equity + debt capital market fared in 1Q 2025                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/26\/capital-markets-remain-robust-in-1q-2025\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2025\/06\/26\/capital-markets-remain-robust-in-1q-2025\/')\">\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\/26\/capital-markets-remain-robust-in-1q-2025\/\">\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=Capital markets remain robust in 1Q 2025&url=https:\/\/enterpriseam.com\/ksa\/2025\/06\/26\/capital-markets-remain-robust-in-1q-2025\/\">\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\/26\/capital-markets-remain-robust-in-1q-2025\/&title=Capital markets remain robust in 1Q 2025\">\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=Capital+markets+remain+robust+in+1Q+2025+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F06%2F26%2Fcapital-markets-remain-robust-in-1q-2025%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\/26\/capital-markets-remain-robust-in-1q-2025\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1758.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98206\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/26\/capital-markets-remain-robust-in-1q-2025\/1758-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1758.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1758.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1758.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1758.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98205\" class=\"content-area-description single-story post-98205 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-market-authority-cma tag-capital-markets tag-debt tag-economy tag-enterpriseam-ksa tag-financial-markets tag-investment tag-nomu tag-stocks tag-tadawul wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.1c7362a8-3adc-42f4-92e6-46d203512a96.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>The Kingdom\u2019s capital markets saw a rebound in equity offerings in 1Q<\/strong> <strong>2025<\/strong>, despite private debt placements outpacing equity on the corporate funding front, according to the Capital Market Authority\u2019s (CMA) latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/1480.pdf\" style=\"\" rel=\"noopener\">quarterly bulletin (pdf)<\/a>. Saudi stock ownership remained heavily concentrated in institutional hands, while retail investors were net buyers for the second straight quarter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nomu<\/strong><strong> listings accounted for the lion\u2019s share of IPO approvals in the first quarter of the <\/strong><strong>year.<\/strong> A total of nine parallel market IPOs were approved in 1Q with 21 more in the pipeline, compared to 5 approvals on the main market, with 16 pending regulatory sign-off. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Equity issuance<\/strong><strong> surged y-o-y: <\/strong>Public equity offerings hit SAR 42.6 bn across 13 transactions in 1Q 2025, nearly tripling the SAR 15.3 bn recorded in 1Q 2024. Debt issuance, meanwhile, remained muted, with just one public debt instrument raising SAR 70 mn over the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Institutional<\/strong><strong> ownership took a minor hit: <\/strong>Institutions held 95.3% of the SAR 9.9 tn total market value in 1Q 2025, down from 96.0% of SAR 10.9 tn in 1Q 2024. Retail investors, meanwhile, increased their share to 4.7%, up from 4.0% a year earlier, marking a notable shift amid rising retail participation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Retail<\/strong><strong> continued to buy the dip:<\/strong> Retail investors were net buyers once again in 1Q, while institutions accounted for 47.9% of total sell-side trades versus 47.7% on the buy side. Meanwhile, government-related entities (GREs) were net sellers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Private<\/strong><strong> debt still leads fundraising:<\/strong> Private debt placements raised SAR 13.2 bn across 22 issuances in 1Q 2025, up 7.3% y-o-y from SAR 12.3 bn across 16 issuances in the same quarter last year. Private equity placements, meanwhile, fell by 38.8% in value to SAR 589.3 mn from SAR 963.5 mn in 1Q 2024, with the number of transactions holding steady at six, compared to eight. That 1Q\u2019s debt-to-equity ratio at over 22x, up from around 12.8x a year earlier.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO<\/strong><strong>- Capital market institutions had a good start to the year. <\/strong>Total industry revenues hit SAR 4.8 bn, up from SAR 4.1 bn in the same period last year. Investments remained the top contributor at SAR 1.6 bn, followed by asset management (SAR 1.5 bn), dealing (SAR 633.6 mn) and investment banking (SAR 416.6 mn). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul\u2019s 1Q performance captures a pre-crisis snapshot<\/strong>, before <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5e288307-129d-428a-a8ec-a931b36ab01c\/markets-rebound,-but-oil-jitters-and-war-risks-keep-nerves-taut\" style=\"\" rel=\"noopener\">markets were rattled<\/a> by escalating geopolitical tensions, including the Israel-Iran conflict and renewed tariff threats from the US. While our capital markets held firm in early 2025, the picture changed swiftly in 2Q when Tadawul ranked as the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b78ed4c1-b932-46b3-a231-b0efad9ac2ca\/tadawul-posts-biggest-monthly-loss-this-year-in-may\" style=\"\" rel=\"noopener\">worst-performing major global exchange in May<\/a>, as risk-off sentiment, regional instability, and weaker liquidity weighed on investor appetite.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-market-authority-cma\/\">Capital Market Authority (CMA)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/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\/nomu\/\">Nomu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/stocks\/\">stocks<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tadawul\/\">Tadawul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98207\" 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=\"98207\">\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\">KUDOS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/26\/pif-secures-three-globalcapital-bond-awards\/\">\r\n                            PIF thrice recognized at the GlobalCapital Bond Awards                        <\/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\/26\/pif-secures-three-globalcapital-bond-awards\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                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data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/26\/pif-secures-three-globalcapital-bond-awards\/1478-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1478.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1478.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1478.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1478.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98207\" class=\"content-area-description single-story post-98207 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-debt tag-enterpriseam-ksa tag-kudos tag-public-investment-fund-pif 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\/.d206d91f-646a-41ce-8b34-4409f7ad069c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PIF claims distinctions from <\/strong><strong>GlobalCapital<\/strong><strong>: <\/strong>The Public Investment Fund (PIF) has been named the Overall Most Impressive Emerging Markets Issuer and Most Impressive Issuer in the Middle East at the <a target=\"_blank\" href=\"https:\/\/assets.euromoneydigital.com\/07\/74\/8d68d08043259a3914410f987c56\/bond-awards-2025-the-winners.pdf\" style=\"\" rel=\"noopener\">2025 GlobalCapital Bond Awards<\/a>, the PIF <a target=\"_blank\" href=\"https:\/\/x.com\/PIF_en\/status\/1937513988247453738\" style=\"\" rel=\"noopener\">said on X<\/a> on Tuesday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Ahmed Alrobayan (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ahmedalrobayan\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), Head of Public Markets within the Global Capital Finance Division, was recognized as the Middle East\u2019s Most Impressive Funding Official.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the awards:<\/strong> The GlobalCapital Bond Awards stand as the only honors dedicated to the international bond markets. Winners are determined directly by industry peers through a market-wide poll with this year\u2019s awards recognizing outstanding performance between April 2024 and March 2025.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98209\" 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=\"98209\">\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\/26\/al-othaim-markets-ebdaa-al-qasr-hit-a-wall-in-acquisition-talks\/\">\r\n                            Al Othaim Markets, Ebdaa Al Qasr hit a wall in acquisition talks                        <\/a>\r\n                    <\/h3>\r\n\r\n                    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data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1268.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1268.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98209\" class=\"content-area-description single-story post-98209 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-abdullah-al-othaim-markets tag-also-on-our-radar tag-ebdaa-al-qasr-marketing tag-enterpriseam-ksa tag-hawyia tag-hospitality tag-jeddah tag-king-abdullah-sports-city tag-ma-watch tag-media tag-real-estate tag-riyadh tag-sports-ministry tag-startup-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\/.06825203-6845-4391-b19c-c13d11286094.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong><a target=\"_blank\" href=\"https:\/\/www.othaimmarkets.com\/ar\" style=\"\" rel=\"noopener\">Abdullah Al Othaim Markets<\/a><\/strong><strong> ended talks to acquire a 51% stake in <\/strong><strong>Ebdaa Al Qas<\/strong><strong>r <\/strong><strong>Marketing<\/strong><strong> after both parties failed to reach a final agreement<\/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=88362&anCat=1&cs=4001&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Al Othaim had signed a non-binding MoU <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3611a879-3d11-4c6f-a5c3-1fa280a2d44a\/%253cmark%253e%253c%2Fmark%253e%253cmark%253eal%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eothaim%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253emarkets%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253etargets%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e51%253cmark%253e%253c%2Fmark%253e%2525%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253estake%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253emanuel%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253emarket%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eoperator%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">in March<\/a> with Al Musbah Group to acquire a 51% stake in Ebdaa Al Qasr Marketing \u2014 the brand operator of high-end supermarket chain <a target=\"_blank\" href=\"https:\/\/www.manuelsupermarket.com\/\" style=\"\" rel=\"noopener\">Manuel Market<\/a> \u2014 which was valid for 90 days.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hawyia Auctions sold residential plots worth SAR 919.5 mn in Riyadh\u2019s Al Raed <\/strong><strong>district <\/strong><strong>as part of the Al Jawhara masterplan auction<\/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=88345&anCat=1&cs=9641&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Hawyia Auctions\u2019 shares started trading on Tadawul\u2019s Parallel Market Nomu <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2b2fb415-390c-446d-a5bc-a6025ad88e7a\/%253cmark%253ehawyia%253c%2Fmark%253e-auctions-gains-8%2525-on-nomu-debut#:~:text=Hawyia%20Auctions%E2%80%99%20share%20price%20gained%207.9%25%20on%20its%20Nomu%20debut%20yesterday\" style=\"\" rel=\"noopener\">last<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2b2fb415-390c-446d-a5bc-a6025ad88e7a\/%253cmark%253ehawyia%253c%2Fmark%253e-auctions-gains-8%2525-on-nomu-debut#:~:text=Hawyia%20Auctions%E2%80%99%20share%20price%20gained%207.9%25%20on%20its%20Nomu%20debut%20yesterday\" style=\"\" rel=\"noopener\">Sunday<\/a>, after its IPO on was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ce5de7a0-5dbb-456f-95bb-eef511b2952b\/hawyia-auctions-nomu-ipo-was-310.7%2525%253cmark%253e-oversubscribed%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">310.7% oversubscribed<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HOSPITALITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>King Abdullah Sports City is getting two new hotels: <\/strong>The Sports Ministry signed <a target=\"_blank\" href=\"https:\/\/koushan.sa\/\" style=\"\" rel=\"noopener\">Koushan Real Estate Development<\/a>, <a target=\"_blank\" href=\"https:\/\/www.ihg.com\/hotels\/gb\/en\/reservation\" style=\"\" rel=\"noopener\">IHG Hotels and Resorts<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.zfp.com\/\" style=\"\" rel=\"noopener\">Zuhair Fayez<\/a> to build, manage, and operate two new international hotels within King Abdullah Sports City in Jeddah, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2346086\" style=\"\" rel=\"noopener\">SPA<\/a> reported on Tuesday. The 16k sqm development will include 585 rooms, a fan zone, health clubs, pools, international restaurants, and conference facilities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> The Ministry pitched 36 potential investments at the Sports Investment Forum (SIF) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/453e706a-4406-42cc-9f50-0028f4fb3444\/saudi-looks-to-the-private-sector-as-2034-world-cup-liquidity-crunch-looms\" style=\"\" rel=\"noopener\">in April<\/a>, including four state-owned sports assets across four major cities and another 32 assets to develop sports club facilities and services. This is part of the Kingdom\u2019s plan to unlock private sector investments to shore up investment ahead of the 2034 FIFA World Cup.<\/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\">MEDIA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Homegrown B2B platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/coproductionsalon.com\/\" style=\"\" rel=\"noopener\">CoProduction Salon<\/a><\/strong><strong> signed a three-year strategic agreement <\/strong><strong>with the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/saudimf.sa\/en\" style=\"\" rel=\"noopener\">Saudi Media Forum<\/a><\/strong> to host its next edition in Riyadh, starting with the upcoming <a target=\"_blank\" href=\"https:\/\/saudimf.sa\/en\/fomex\" style=\"\" rel=\"noopener\">Future of Media Exhibition<\/a>, it said in a <a target=\"_blank\" href=\"https:\/\/coproductionsalon.com\/news\/69\" style=\"\" rel=\"noopener\">press release<\/a> yesterday. The Salon will connect producers, platforms, and investors through a structured B2B format that includes data analysis, project marketing, and financing matchmaking.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the Forum<\/strong><strong>:<\/strong> The Saudi Media Forum gathers leading local and international media professionals to discuss strategic partnerships, digital media, green technology in media, podcasting, the 2034 World Cup, and the impact of AI on media.<\/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>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/eparticipation.my.gov.sa\/en\/co-creation\/initiatives\/sidra-hackathon\/\" style=\"\" rel=\"noopener\">Sidra Hackathon<\/a><\/strong><strong> wrapped up earlier this week with SAR 500k in total prizes<\/strong><strong> awarded <\/strong><strong>to the top three teams<\/strong>, which were competing on developing sustainable solutions, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/1496.pdf\" style=\"\" rel=\"noopener\">emailed statement (pdf)<\/a> to EnterpriseAM. The event was held at Riyadh\u2019s Princess Nourah bint Abdulrahman University, with 86 teams participating and 10 reaching the final round.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The awardees: <\/strong>First place and SAR 250k went to Drop of Palm Trees, a project that uses AI- and IoT-powered mats to improve irrigation efficiency. NanoClean took second place and SAR 150k for its solar- and nanotech-based system that cleans up oil spills and converts them into biofuel. The third-place prize of SAR 100k went to Masar, which developed a smart water management system for agriculture.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> FINANCIAL SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/web.derayah.com\/en\/\" style=\"\" rel=\"noopener\">Derayah Financial<\/a><\/strong><strong> appointed Bahrain-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/shariyah.net\/\" style=\"\" rel=\"noopener\">Shariyah Review Bureau<\/a><\/strong> <strong> as Sharia <\/strong><strong>advisor to ensure<\/strong><strong> full compliance of its operations, products, and activities<\/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=88370&anCat=1&cs=4084&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The Bureau will set up a supervisory committee to conduct audits and report findings annually to Derayah\u2019s board.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/abdullah-al-othaim-markets\/\">Abdullah Al Othaim Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ebdaa-al-qasr-marketing\/\">Ebdaa Al Qasr Marketing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hawyia\/\">Hawyia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/jeddah\/\">Jeddah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/king-abdullah-sports-city\/\">King Abdullah Sports City<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/media\/\">Media<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/riyadh\/\">Riyadh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports-ministry\/\">Sports Ministry<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98211\" 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=\"98211\">\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\/26\/emerging-markets-outperform-developed-world-despite-tariff-concerns\/\">\r\n                            Emerging markets outperform developed world despite tariff concerns                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img 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<\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/26\/emerging-markets-outperform-developed-world-despite-tariff-concerns\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1679.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98212\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/26\/emerging-markets-outperform-developed-world-despite-tariff-concerns\/1679-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1679.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1679.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1679.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1679.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98211\" class=\"content-area-description single-story post-98211 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-capital-markets tag-currencies tag-emerging-markets tag-enterpriseam-ksa tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.3e2e3bb6-c2cd-4c73-8c9f-c337097261c2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Emerging markers rally despite global turmoil: <\/strong>Developing economies are posting some of the strongest market gains of 2025 as the winds of US exceptionalism start to turn, defying expectations that trade wars resulting from US tariffs and ongoing conflicts in the Middle East would hit emerging markets particularly hard.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An MSCI share gauge and JPMorgan EM local currency bond index posted <\/strong><strong>gains of roughly 10% this year<\/strong>, nearly double the 4.8% gain seen in developed markets tracked by the MSCI World index, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2d99d11f-9d05-44ce-9f1d-e2f761156a52\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the turnaround:<\/strong> Weakened confidence in the US on the back of increasingly erratic policy stances have shed a more positive light on emerging markets, and the growing US budget deficit and debt obligations are pulling investors away from US Treasuries, despite favorable yields. A weaker greenback is also easing pressure on central banks in emerging markets, allowing them to lower borrowing costs, helping to boost growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This comes after a somewhat rocky start to the year<\/strong>, with USD 22 bn removed from EM shares and bond funds. Some USD 11 bn returned later in May and June, with emerging market local-currency bond funds seeing record inflows in mid-June, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/americas\/emerging-market-local-currency-debt-could-end-decade-long-drought-dollar-wanes-2025-06-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported, as investors look elsewhere amid lower interest rates in developed markets, a slowdown in global growth, and an anticipated downturn in USD bond yields.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The MSCI Emerging Markets index could gain as much as 3% by June 2026,<\/strong> with domestic-focused businesses better positioned than exporters, Morgan Stanley strategists predict in the <a target=\"_blank\" href=\"https:\/\/www.morganstanley.com\/insights\/articles\/investment-outlook-midyear-2025\" style=\"\" rel=\"noopener\">2025 Midyear Investment Outlook<\/a>. The firm projects India to lead emerging market performance, forecasting <a target=\"_blank\" href=\"https:\/\/www.tradingview.com\/news\/moneycontrol:4af0120f2094b:0-morgan-stanley-india-poised-to-lead-emerging-markets-in-2025\/\" style=\"\" rel=\"noopener\">18-20%<\/a> annual earnings growth over the next four to five years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The next bull market? <\/strong>Wall Street players like Morgan Stanley Investment Management, AQR Capital Management, Bank of America and Franklin Templeton among those predicting that the tide is turning in favor of EMs \u2014 calling them \u201cthe next bull market,\u201d \u2014 <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-18\/wall-street-banks-say-emerging-markets-wasted-years-are-over\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports citing Bank of America\u2019s Michael Harnett.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investor bullishness on emerging markets is at a two-year high<\/strong>, with 44% of fund managers expressing optimism, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-24\/investors-are-most-positive-on-em-in-two-years-hsbc-survey-says\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing a HSBC survey. The consensus view expects emerging market equities to outperform developed markets over the next three months.<\/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>Most Asian markets are in the red this morning<\/strong>, with Japan\u2019s Nikkei being the only outlier, rising 1%. South Korea\u2019s Kospi lost 1.8%, while Hong Kong\u2019s Hang Seng is down 0.7%. <strong>Over on Wall Street<\/strong>, futures are unchanged, after the S&P 500 ended yesterday flat, and the Nasdaq and Dow Jones logged small gains. <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,974<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: -8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,407<\/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: -6.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">26,837<\/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: -14.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.0% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">33,003<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2% (YTD: +11.0%)<\/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>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\">9,811<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +4.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,613<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6,092<\/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\">-0.0% (YTD: +3.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,719<\/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: +6.7%)<\/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>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\">5,252<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: +7.3%)<\/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>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 67.74<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.40<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3,349.80<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 107,906.69<\/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\">+1.8% (YTD: +14.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">914<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +1.3%)<\/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>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\">145.1<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +3.7%)<\/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>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">16.76<\/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\">-4.1% (YTD: -3.4%)<\/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> inched up 0.1% yesterday on turnover of SAR 6.1 bn. The index is down 8.8% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Sisco Holding (+9.9%), SPPC (+9.8%) and Sarco (+5.5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> SMC Healthcare (-3.4%), Zamil Indust (-2.3%) and Alarabia (-2.1%).<\/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> slipped 0.1% yesterday on turnover of SAR 24.5 mn. The index is down 14.7% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> FAD (+10.0%), NGDC (+9.0%) and Almodawat (+8.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Naas Petrol (-7.8%), Future Care (-6.5%) and Aldawliah (-6.1%).<\/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\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ma\u2019aden\u2019a board approved boosting its capital by 2.3% to S<\/strong><strong>AR 38.9 bn to acquire the remaining 25.1% <\/strong><strong>stakes of its subsidiaries<\/strong>, the Ma'aden Bauxite and Alumina Company (MBAC) and the Ma\u2019aden Aluminium Company (MAC), it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88351&anCat=1&cs=1211&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The SAR 859.8 mn capital increase will be executed by issuing over 85 mn new shares to the sellers, AWA Saudi and Alcoa Saudi, as payment for their shares in MBAC and MAC.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SAL Saudi Logistics Services will distribute a dividend payout of SAR 114.4 mn<\/strong><strong> for 1Q <\/strong><strong>2025 at SAR 1.43 per share<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/Resources\/fsPdf\/23033_5026_2025-06-24_21-03-49_en.pdf\" style=\"\" rel=\"noopener\">disclosure to Tadawul (pdf)<\/a>. The distribution date is set for 15 July. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/currencies\/\">currencies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98213\" 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\/26\/98213\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98213\" class=\"content-area-description single-story post-98213 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>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>3-4<\/span><span> September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-smic.com\/\" style=\"\">Sustainable Maritime Industry Conference<\/a><\/span><span style=\"font-weight:400;\"> (SMIC), Ritz-Cartlon, Jeddah. <\/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-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;\">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;\"> 22nd 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\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>SMC sheds over 3% | S&#038;P revises growth forecasts | Dar Al Arkan kicks off sukuk issuance<\/p>\n","protected":false},"featured_media":98194,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-98193","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"b0e1b81c-1b94-48a5-abe3-612d10873697","teaser":"SMC sheds over 3% | S&P revises growth forecasts | Dar Al Arkan kicks 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