{"id":98648,"date":"2025-07-13T00:00:00","date_gmt":"2025-07-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=98648"},"modified":"2025-12-14T21:29:43","modified_gmt":"2025-12-14T21:29:43","slug":"white-land-tax-regs-set-up-2-5-base-fee-on-undeveloped-plots","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/white-land-tax-regs-set-up-2-5-base-fee-on-undeveloped-plots\/","title":{"rendered":"White Land Tax regs set up 2.5% base fee on undeveloped plots"},"content":{"rendered":"<section id=\"98650\" 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=\"98650\">\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\/07\/13\/national-ai-curriculum-to-hit-schools-starting-this-year\/\">\r\n                            THIS MORNING: National AI curriculum to hit schools starting this year                        <\/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\/07\/13\/national-ai-curriculum-to-hit-schools-starting-this-year\/\" 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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We\u2019re nearing mid-July, and the summer heat is extending to the Kingdom\u2019s accelerated pace of regulatory reforms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leading this morning\u2019s news well: <\/strong>The real estate market saw the new regulations for the White Land Tax law published for community feedback, proposing a base 2.5% fee on undeveloped lands, in a bid to incentivize development and drive down the rising prices of properties all over the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile<\/strong>, capital markets are bustling with the news of the CMA approving new regulation amendments and products, including an overhaul of investment fund regulations, and the introduction of Saudi Depositary Receipts, opening up investment opportunities in foreign companies. PLUS: GCC-based investors can now invest in TASI directly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The Energy Ministry and the International Energy Agency are at odds about the Kingdom\u2019s oil output in June. The agency claims we\u2019re above quota, while the Ministry is reaffirming compliance and calling for using an alternative market to reflect which barrels actually hit the oil markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ Details on all of these , and more, are in today\u2019s issue. 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 45\u00b0C and a low of 30\u00b0C, while <strong>Jeddah<\/strong>\u2019s mercury will go as high as 41\u00b0C and as low as 31\u00b0C. <strong>Makkah<\/strong> will see a 42\u00b0C and a 32\u00b0C low. <\/p>\n<p class=\"tag-border-left\">NEWS TRIGGERS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gastat set to roll out fresh inflation data:<\/strong> The Consumer Price Index for June is to be released by the General Authority for Statistics (Gastat) on Tuesday. Inflation fell slightly to 2.2% y-o-y <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d170ccdb-2e99-47f0-aeab-abd9a82cfc7f\/\" style=\"\" rel=\"noopener\">in May<\/a>, down 0.1 percentage points from April.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The Renewable Energy Statistics report for the years 2023 and 2024 is due on Monday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a> #1- The Kingdom will introduce a national AI curriculum across all public education levels<\/strong>, starting in the 2025\u20132026 school year, <a target=\"_blank\" href=\"https:\/\/saudigazette.com.sa\/article\/653326\/SAUDI-ARABIA\/Saudi-Arabia-rolls-out-AI-curriculum-for-all-education-stages-by-2025\" style=\"\" rel=\"noopener\">Saudi Gazette<\/a> reports. The move aims to give students practical AI skills from an early age through interactive, age-appropriate lessons. The new curriculum will apply to all stages of learning, from primary school to university and vocational programs, and will be included in national student assessments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- C<\/strong><strong>itizens are invited to join the \u201cOne Million Saudis in AI<\/strong><strong>\u201d initiative<\/strong>, offering free and remote training on AI principles, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2356071\" style=\"\" rel=\"noopener\">SPA<\/a> reports. The program will be offered in Arabic, and participants will receive a certificate upon completion. Interested? Register at the <a target=\"_blank\" href=\"https:\/\/samai.futurex.sa\/\" style=\"\" rel=\"noopener\">Samai website<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong> <strong>Businesses subject to e<\/strong><strong>xcise taxes must submit May and June tax returns by 15 July<\/strong>, the Zakat, Tax, and Customs Authority (Zatca) <a target=\"_blank\" href=\"https:\/\/x.com\/Zatca_sa\/status\/1943241789541920846\" style=\"\" rel=\"noopener\">said on X<\/a>. Missing the deadline will lead to a 5% late penalty on the unpaid taxes for every 30 days of delay. Excise tax applies to products associated with health risks or harming the environment, including soft and energy drinks, and tobacco products.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> #1- <\/strong><strong>Aramco is in talks to buy 2 mn tons of liquefied natural gas (LNG) per year from<\/strong> <strong>US-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/commonwealthlng.com\" style=\"\" rel=\"noopener\">Commonwealth LNG<\/a><\/strong>, which plans to build an export facility in Cameron, Louisiana, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-giant-saudi-aramco-talks-with-commonwealth-lng-offtake-agreement-sources-say-2025-07-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported on Wednesday, citing unnamed sources it says are in the know. No financial details were disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This comes as Aramco expands its LNG business in the US<\/strong>, which is expected to maintain its spot as the largest exporter of LNG worldwide by almost doubling its capacity over the next four years. The oil giant is exploring possible partnerships with other American projects, including Delfin LNG and Energy Transfer\u2019s proposed Lake Charles facility, the sources added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Aramco inked a 20-year LNG sale and purchase agreement (SPA) with US-based LNG development firm NextDecade Corporation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/dd513771-7337-4c8c-a6b8-0446fe93bcd9\/aramco-to-onboard-lng-from-us-based%253cmark%253e-nextdecade%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">in April<\/a> for the offtake of 1.2 mn mtpa from its Rio Grande Train four LNG facility.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> #2- <\/strong><strong>Cenomi brings in Rothschild ahead of sukuk maturity: <\/strong>Tadawul-listed mall operator Cenomi Centers tapped Rothschild & Co to explore funding options ahead of a USD 875 mn sukuk repayment due in October of next year, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-10\/saudi-mall-operator-taps-rothschild-ahead-of-sukuk-repayment\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people it says are familiar with the matter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The company is said to be weighing a mix of debt and equity solutions, as it navigates credit pressure and a liquidity crunch tied to delayed payments from a key related tenant \u2014 Alhokair Fashion Retail (Cenomi Retail). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More room below:<\/strong> S&P <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/ratings\/en\/regulatory\/article\/-\/view\/sourceId\/101627226\" style=\"\" rel=\"noopener\">downgraded<\/a> Cenomi deeper into junk territory last month, citing rising receivables and related-party risk. The agency called the sukuk refinancing \u201cmanageable,\u201d but warned that delays in executing a funding plan could erode liquidity, the business information service wrote. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt4\"><\/a> #3- <\/strong><strong>Chinese tech giant Huawei Tech<\/strong><strong>nologies is fishing for customers in the Middle <\/strong><strong>East<\/strong>, with Saudi Arabia and the UAE on the list of potential client, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-10\/huawei-seeks-ai-chip-customers-in-middle-east-southeast-asia\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources it says are familiar with the matter. Huawei is offering small quantities of its older Ascend 910B processors to the region, with one source describing discussions with the Saudi Data & AI Authority (Sdaia) as \u201cadvanced\u201d for a quantity of chips in the \u201clow thousands.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Washington is watching closely:<\/strong> Saudi Arabia\u2019s engagement with Huawei is expected to remain under scrutiny, despite <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cb36474b-d5c7-4b30-9cb2-fce86198691e\/pif%25e2%2580%2599s-ai-powerhouse-humain-lands-usd-bns-in-agreements\" style=\"\" rel=\"noopener\">USD bns<\/a> in agreements with US AI chip makers,. The US has previously <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a0706f96-f200-4c8f-98cf-0cfa14aaef51\/us-steers-saudi-ai-toward-american-tech,-away-from-beijing\" style=\"\" rel=\"noopener\">voiced concerns<\/a> about China\u2019s growing influence in the Middle East.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Setting the record straight: <\/strong>Elon Musk shot down news on a potential USD 170-200 bn fundraising round for xAI reportedly involving the Public Investment Fund (PIF), <a target=\"_blank\" href=\"https:\/\/x.com\/elonmusk\/status\/1943795272515301624\" style=\"\" rel=\"noopener\">saying on X<\/a> yesterday that \u201cxAI is not seeking funding right now. We have plenty of capital.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The potential fundraising was expected to see the PIF play a <\/strong><strong>significant role<\/strong>, sources had earlier told the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/25aab987-c2a1-4fca-8883-38a617269b68\" style=\"\" rel=\"noopener\">Financial Times<\/a>. The sovereign fund already holds an indirect interest in xAI through its stake in Kingdom Holdings Company, which has an USD 800 mn investment in the AI firm.<\/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=\"wwtt5\"><\/a> #4- <\/strong><strong>Non-oil GDP is expected to grow by 4.3% in 2025<\/strong>, pushed by a strong domestic demand and loan growth, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/economy\/2025\/07\/10\/%D8%AC%D8%AF%D9%88%D9%89-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%AA%D8%AA%D9%88%D9%82%D8%B9-%D9%86%D9%85%D9%88-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D8%BA%D9%8A%D8%B1-%D8%A7%D9%84%D9%86%D9%81%D8%B7%D9%8A-43-%D9%87%D8%B0%D8%A7-%D8%A7%D9%84%D8%B9%D8%A7%D9%85\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing a report by Jadwa Investment. The firm expects growth to reach 4.4% in 2026, driven by lower interest rates and further economic diversification.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong>Jadwa forecasts Brent oil prices to average USD 67\/bbl in 2025 and USD 65 in 2026, while oil production is expected to rise to 9.45 mn bbl \/ d on average. Lower oil income is forecast to widen the budget deficit to 4.3% of GDP, still manageable thanks to low debt exposure and strong foreign reserves, the firm expects.<\/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- <\/strong><strong>Two-state solution confere<\/strong><strong>nce is back on?<\/strong> The Saudi-French co-chaired UN conference in on the two-state solution for Israel and Palestine has been rescheduled for 28-29 July, with details set to come out soon, unnamed diplomats told <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2607763\/saudi-arabia\" style=\"\" rel=\"noopener\">Arab News<\/a>. The meeting \u2014 originally scheduled for mid-June \u2014 was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7844561c-b4c2-49b8-abb5-adc4957acc7c\/\" style=\"\" rel=\"noopener\">postponed<\/a> last month following major Israeli military strikes on Iran.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> The meeting is intended to address post-ceasefire security in Gaza, reconstruction, and establishing a Palestinian state. French President Emmanuel Macron is expected to move forward with recognizing a Palestinian state during the high-level conference, having urged the UK government this week to follow suit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- Sequoia under fire after partner\u2019s anti-Muslim remarks: <\/strong>Prominent investors and startup founders from the Middle East have joined a public petition against Shaun Maguire, a partner at US-based venture capital firm Sequoia Capital, who is facing intense criticism after he posted on X that NYC politician Zohran Mamdani is promoting an \u201cIslamist agenda\u201d and comes from a \u201cculture that lies about everything.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More and more business leaders are joining in: <\/strong>An <a target=\"_blank\" href=\"https:\/\/shaunmaguire.fyi\/?utm_source=semafor\" style=\"\" rel=\"noopener\">open letter<\/a> demanding his removal from client-facing roles and a zero-tolerance anti-discrimination policy has gathered almost 1.1k signatories from founders, investors, and operators across the tech world, including Tabby\u2019s Hosam Arab, Lean Tech\u2019s Hisham Al Falih, and Careem CEO Mudassir Sheikha. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Maguire later posted a 30-minute video attempting to clarify the comment<\/strong>, saying his critique was aimed at \u201cpolitical Islamism, not Islam.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s Sequoia in all this? <\/strong>So far, silent. The letter gives the firm until 14 July to issue a public response or face broader public and media escalation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story has gotten attention from the foreign press:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/07\/07\/founders-sign-letter-to-sequoia-on-shaun-maguires-mamdani-remarks.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/the-sequoia-investor-whose-anti-mamdani-posts-set-off-a-silicon-valley-storm-56965cdf\" style=\"\" rel=\"noopener\">WSJ<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<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>The g<\/strong><strong>overnment offered over 85k tenders valued at SAR 336.3 bn via the Etimad <\/strong><strong>platform by <\/strong><strong>the end of 2024<\/strong>, with some 34k tenders being awarded for a combined value of SAR 151.7 bn, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/696.pdf\" style=\"\" rel=\"noopener\">latest report (pdf)<\/a> by the Local Content and Government Procurement Authority. High-value tenders amounted to 1.4k, representing 66.5% of total awarded tenders at a combined value of SAR 233.7 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Liv Golf putts in with HSBC:<\/strong> Liv Golf signed a multi-year full-season partnership with HSBC, according to a <a target=\"_blank\" href=\"https:\/\/www.livgolf.com\/news\/liv-golf-hsbc-announce-global-multi-year-partnership-2025\" style=\"\" rel=\"noopener\">statement<\/a>. The contract includes support for community programs, financial literacy initiatives, and two teams \u2014 Crushers GC and Majesticks GC \u2014 in addition to sponsorship for LIV Golf\u2019s \u201c9 to Play\u201d broadcast segment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> Liv Golf reached an agreement for PIF-owned Roshn Group to become a Global Pillar Partner for the remainder of the current fixture and the 2026 season \u2014 totaling 19 events, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/roshn-group-joins-liv-golf-as-pillar-partner-launching-the-rising-stars-talent-development-program-qf7bbdd8\" style=\"\" rel=\"noopener\">press release<\/a>. The partnership focuses on youth golf programs, including the launch of the Rising Stars initiative to train 20 young Saudi players.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong><strong>Climbing back:<\/strong> LIV Golf submitted a new application to the Official World Golf Ranking (OWGR) for players to earn world ranking points, with the application currently under review, according to a <a target=\"_blank\" href=\"https:\/\/www.owgr.com\/news\/statement-from-trevor-immelman-chairman-owgr-board-of-directors\" style=\"\" rel=\"noopener\">statement<\/a>. OWGR rejected a first bid two years ago, citing the \u201cunconventional 54-hole format with no cuts while the events featured the same 48 players all season,\u201d <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/golf\/liv-golf-takes-another-swing-world-ranking-points-2025-07-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports.<\/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- A new star joins the Roshn league:<\/strong> Al Hilal signed French left-back Theo Hernandez from AC Milan on a three-year contract, paying some EUR 25 mn for the transfer, according to sports journalist <a target=\"_blank\" href=\"https:\/\/x.com\/FabrizioRomano\/status\/1943326418764730510\" style=\"\" rel=\"noopener\">Fabrizio Romano<\/a>. The 27-year-old started his youth career at Atletico Madrid, making his professional debut at Deportivo Alaves (on loan) in 2016, later playing for Real Madrid, Real Sociedad, and AC Milan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>UK-based BMW M Team Redline won its second Esports World Cup <\/strong><strong>title <\/strong><strong>at <\/strong><strong>Rennsport<\/strong>, earning a USD 200k prize bag and 1k points in the overall club rankings to reach the top of the table, BMW Group said in a <a target=\"_blank\" href=\"https:\/\/www.press.bmwgroup.com\/global\/article\/detail\/T0451355EN\/bmw-m-team-redline-successfully-defends-title-at-the-esports-world-cup\" style=\"\" rel=\"noopener\">press release<\/a>. The team was made up of Luke Bennett (GBR), Sebastian Job (GBR), Jeffrey Rietveld (NED), and Kevin Siggy (SLO), with 20-year-old Bennett named best player.<\/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>Trump\u2019s latest tariff threats are once again dominating the foreign front pages:<\/strong> US President Donald Trump is threatening to slap new tariffs on imports from the EU and Mexico, escalating his protectionist drive ahead of the 1 August deadline for sweeping new trade measures. \u201cStarting on 1 August 2025, we will charge the European Union a tariff of only 30% on EU products sent into the US, separate from all sectoral tariffs,\" Trump said in a <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\" style=\"\" rel=\"noopener\">letter on his Truth Social media<\/a>. He also accused Mexico of failing to stop \u201cthe Cartels who are trying to turn all of North America into a narco-trafficking playground,\u201d and threatened a similar 30% levy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All eyes on 1 August:<\/strong> Trump last week sent letters to trade partners <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/955706cf-2cf4-4c58-b260-f0f75f3088e1\/trading-on-the-egx-is-expected-to-resume-today\" style=\"\" rel=\"noopener\">warning of new tariffs<\/a>, with his administration saying the reciprocal measures could take effect as early as 1 August. The sweeping threat includes a 50% levy on copper imports, a potential 200% tariff on pharma products, and a 35% hike on Canadian exports. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/trump-announces-30-tariffs-eu-2025-07-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-12\/trump-patience-on-tariffs-runs-thin-as-nations-jostle-for-deals?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/43487e0f-dab9-4faf-8754-baba36e5ddee\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2025\/07\/12\/us\/trump-news\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/07\/12\/world-leaders-trump-tariffs.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-tariffs-eu-mexico-66bf84d97dcd69bbd1f1108e42283afd\" style=\"\" rel=\"noopener\">Associated Press<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME- <\/strong>Talks in Doha aimed at brokering a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/019d95eb-0227-4829-95eb-dba8160224c4\/%253cmark%253e%253c%2Fmark%253eebrd%253cmark%253e%253c%2Fmark%253e,%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253eadmaius%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eeye%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eindirect%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eminority%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%253eminapharm%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">60-day ceasefire<\/a> between Israel and Hamas are faltering over Israeli troop withdrawal terms, sources from both sides told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/gaza-truce-talks-faltering-over-withdrawal-palestinian-israeli-sources-say-2025-07-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Hamas has rejected Israeli-proposed maps that would keep 40% of Gaza \u2014 Rafah and areas in the north and east \u2014 under Israeli control. Israel, for its part, blames Hamas for \u201cstubborn\u201d negotiating. Two Israeli sources told the newswire that Hamas wants Israel instead to withdraw to the lines that it had occupied before resuming their military aggression in March.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>Real Estate Brokerage Forum kicks off at the Riyadh International Convention and <\/strong><strong>Exhibition Center on 20 July<\/strong>, the Real Estate General Authority said in a <a target=\"_blank\" href=\"https:\/\/rega.gov.sa\/media-center\/%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1-%D8%AA%D8%B7%D9%84%D9%82-%D9%85%D9%84%D8%AA%D9%82%D9%89-%D8%A7%D9%84%D9%88%D8%B3%D8%A7%D8%B7%D8%A9-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D9%8A%D8%A9-%D8%A8%D9%86%D8%B3%D8%AE%D8%AA%D9%87-%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">statement<\/a>. The forum will feature discussions on legislative updates, empowerment prospects, and the role of real estate brokers. Registration is now open at the Rega <a target=\"_blank\" href=\"https:\/\/survey.rega.gov.sa\/s\/cmcx54c4k000coiibff8kh9br\" style=\"\" rel=\"noopener\">website<\/a>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98652\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15542.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98653\" 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=\"98653\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/13\/white-land-tax-regs-set-up-2-5-base-fee-on-undeveloped-plots\/\">\r\n                            White Land Tax regs up for community feedback                        <\/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\/07\/13\/white-land-tax-regs-set-up-2-5-base-fee-on-undeveloped-plots\/\" 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 <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/694.pdf\" style=\"\" rel=\"noopener\">draft regulations (pdf)<\/a> aim to discourage land hoarding and boost property supply.<\/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>Fee structure and application:<\/strong> The proposed regulations set a 2.5% base fee of the value of undeveloped urban plots exceeding 5k sqm, to which a progressive annual increase rate and a variable rate are added, with overall fees capped at 10%. The variable rate allows for flexibility, as it will be adjusted based on market conditions to ensure fair application.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The valuation of idle lands and their fees will be handled by a specialized appraisal <\/strong><strong>committee<\/strong>, which will be formed by the Housing Minister and will include licensed appraisers from the Saudi Authority for Accredited Valuers (Taqeem). The committee will take into account economic indicators, such as the gap between housing supply and demand, real estate inflation, shortage of developed lands, and monopolization of undeveloped lands.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Incentivizing development:<\/strong> To encourage owners to either develop their properties or sell them to those who will, the fee ceases upon a property\u2019s completion. Landowners can also receive a refund for fees paid if they complete development within the same payment period. The rules also allow for the fee to be suspended if obstacles prevent construction, and also leaves room for the Housing Ministry to grant time extensions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> The new regulations are expected to be issued within a month, with a 90-day period granted for application after publication in the Official Gazette, Tariq Al Shuhayeb, adviser to the Housing Minister, told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2025\/07\/10\/%D8%A7%D9%84%D8%A7%D8%B3%D9%83%D8%A7%D9%86-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%B5%D8%AF%D9%88%D8%B1-%D8%A7%D9%84%D9%84%D8%A7%D8%A6%D8%AD%D8%A9-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%84%D8%B1%D8%B3%D9%88%D9%85-%D8%A7%D9%84%D8%A7%D8%B1%D8%A7%D8%B6%D9%8A-%D8%A7%D9%84%D8%A8%D9%8A%D8%B6%D8%A7%D8%A1-%D8%AE%D9%84%D8%A7%D9%84-%D8%B4%D9%87%D8%B1\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> on Thursday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The cabinet approved <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/012d5675-1627-4c3d-85e7-d4e54469b091\/the-kingdom-officially-approves-amendments-to-the%253cmark%253e-white-land%253c%2Fmark%253e-tax-law\" style=\"\" rel=\"noopener\">amendments to the White Land Tax Law<\/a> in late April, increasing the annual fee on undeveloped land from a fixed 2.5% to a maximum of 10% of the property\u2019s value. The changes also imposed a new tax on vacant, ready-for-use properties based on comparable annual rent, capped at 5% of the property\u2019s market value.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve had a battery of reforms pushed recently to stimulate the real estate market.<\/strong> Last week, the cabinet greenlit a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/757cfcb3-6ed1-4184-983d-38a4953098c2\/new-law-to-open-property-market-to-non-saudis\" style=\"\" rel=\"noopener\">new law<\/a> enabling non-Saudis to own real estate property in the Kingdom. Other changes include <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e62966e6-8805-4fb4-af55-4385b5f42bd7\/foreign-investors-can-now-buy-shares-of-listed-companies-with-real-estate-assets-in-the-holy-cities\" style=\"\" rel=\"noopener\">allowing<\/a> foreign investment in Makkah- and Madinah-based real estate companies, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/12b30af9-a72f-4e17-a335-a1a77899b104\/riyadh-is-getting-serious-about-real-estate-reform-%25e2%2580%2594-and-it%25e2%2580%2599s-starting-with-the-north\" style=\"\" rel=\"noopener\">lifting development restrictions<\/a> on 81.5 sq km of land in northern Riyadh, in addition to planning the release of 10k-40k affordable residential plots per year over the next five years.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ministry-of-municipalities-and-housing\/\">Ministry of Municipalities and Housing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98655\" 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=\"98655\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">MANUFACTURING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/13\/industrial-production-up-1-5-y-o-y-in-may\/\">\r\n                            Industrial production up 1.5% y-o-y in May                        <\/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                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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98656\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/13\/industrial-production-up-1-5-y-o-y-in-may\/196-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/196.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"196.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/196.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/196.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98655\" class=\"content-area-description single-story post-98655 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-enterpriseam-ksa tag-industrial-production-index-ipi tag-manufacturing tag-non-oil tag-oil-and-gas 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\/7\/.5a3489f4-c6ca-4a9c-af89-739399f77321.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>The Industrial Pro<\/strong><strong>duction Index (IPI<\/strong><strong>) rose 1.5% y-o-y in May<\/strong>, fueled by growth in mining and quarrying, manufacturing, and waste management activities, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/693.pdf\" style=\"\" rel=\"noopener\">preliminary data (pdf)<\/a> from the General Authority for Statistics (Gastat).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mining and quarrying was the most active sector during the month<\/strong>, logging 2.1% y-o-y growth, with oil production rising to some 9.2 mn bbl \/ d, up from 9 mn bbl \/ d in the same period last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Manufacturing activity also saw a 0.9% y-o-y uptick<\/strong>, with the manufacture of chemicals and chemical products growing 14% y-o-y, followed by 3.2% growth in the manufacture of food products.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Utilities were a mixed bag: <\/strong>The sub-index for electricity, gas, steam, and air conditioning supply activity fell 7.7% y-o-y, while the sub-index for water supply, sewerage, waste management, and remediation activities climbed 15.5% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong>The oil activities index increased 0.5% y-o-y in May, and the non-oil activities index climbed 3.8%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Non-oil business activity in the Kingdom picked up in May on the back of an increase in new work amid improving demand and business sentiment. The seasonally adjusted headline figure came in at 55.8 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/161b8179-d89f-4d12-9141-35f7e3d3e30d\/non-oil-activity-slightly-accelerates-in-may,-backed-by-strong-new-order-growth\" style=\"\" rel=\"noopener\">in May<\/a>, up slightly from 55.6 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/24768221-8b7d-40e2-80f9-6a5122a41119\/saudi-arabia%e2%80%99s-non-oil-activity-grows-at-a-slower-rate-in-april-as-new-orders-slow-down\" style=\"\" rel=\"noopener\">in April<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/industrial-production-index-ipi\/\">Industrial Production Index (IPI)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/non-oil\/\">non-oil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil-and-gas\/\">oil and gas<\/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=\"98657 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=\"98657\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/13\/98657\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98657\" class=\"content-area-description single-story post-98657 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1942.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98658\" 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=\"98658\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/13\/sweeping-amendments-new-products-open-up-tadawul-to-more-investors\/\">\r\n                            Tadawul expands investor base with fund regulation amendments, Saudi Depositary Receipts. PLUS: GCC investors can now invest directly in TASI                        <\/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\/07\/13\/sweeping-amendments-new-products-open-up-tadawul-to-more-investors\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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href=\"https:\/\/api.whatsapp.com\/send?text=Sweeping+amendments+%2B+new+products+open+up+Tadawul+to+more+investors+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F07%2F13%2Fsweeping-amendments-new-products-open-up-tadawul-to-more-investors%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\/07\/13\/sweeping-amendments-new-products-open-up-tadawul-to-more-investors\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/840.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98659\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/13\/sweeping-amendments-new-products-open-up-tadawul-to-more-investors\/840-jpg-32\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/840.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"840.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/840.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/840.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98658\" class=\"content-area-description single-story post-98658 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-markets tag-enterpriseam-ksa tag-fintech tag-investment-watch tag-regulation-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.db50c203-58d0-44dc-97bb-8dfae3a81eed.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>#1- <\/strong><strong>The Kingdom is <\/strong><strong>opening up its capital markets to more investors under a <\/strong><strong>sweeping <\/strong><strong>overhaul of its fund regulations<\/strong>, clearing fintechs to distribute fund units and approving new investment freedoms for REITs and public funds, the Capital Markets Authority (CMA) said in <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/NEWS\/Pages\/CMA_N_3836.aspx\" style=\"\" rel=\"noopener\">a statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale: <\/strong>The amendments \u2014 following a three-phase consultation that began in June 2024 \u2014 aim to widen market access, enhance distribution, and support the growth of the asset management industry, the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What was relaxed?<\/strong><\/p>\n<ul>\n<li><strong>Easier access to foreign funds:<\/strong> Local institutions licensed to conduct investment management activities can now distribute foreign funds to local clients as long as the offering is done via private placement and the foreign fund is based out of a CMA-recognized jurisdiction.<\/li>\n<li><strong>REITs investment ratios relaxed on Nomu: <\/strong>Traded real estate investment trusts listed on Tadawul\u2019s parallel market Nomu can now invest in development-stage real estate projects from the time of launch, without having to comply with the usual investment ratio limits.<\/li>\n<li><strong>New channels: <\/strong>Investment fund platforms and e-money institutions can now distribute fund units through their websites and mobile apps.<\/li>\n<li><strong>New products unlocked: <\/strong>Public funds are now allowed to subscribe to privately offered debt instruments issued within the Kingdom.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New restrictions were introduced, though:<\/strong><\/p>\n<ul>\n<li><strong>Money market and capital protection funds are now subject to tighter risk <\/strong><strong>thresholds<\/strong>, with exposure to a single issuer capped at 10% of net asset value and 25% across all entities. Public funds that invest in debt instruments are also required to disclose credit ratings for their top ten debt holdings in quarterly reports.<\/li>\n<li><strong>Retail protections were also beefed up:<\/strong> Retail investors can no longer contribute more than 50% of total banknote subscriptions in private and foreign funds. That cap will also hold after any secondary transfers for closed-ended funds, meaning retail investors can\u2019t end up holding a majority stake down the line.<\/li>\n<li><strong>Fund manager exits:<\/strong> New governance provisions require fund managers \u2014 both public and private \u2014 to seek regulatory approval before stepping down or being dismissed. Managers must transfer fund responsibilities to a CMA-approved successor within 60 days.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT- <\/strong>CMA-approved investment funds accounted for the largest share of AUM in 2024, reaching SAR 700 bn \u2014 a 25% y-o-y increase. The authority approved 44 new funds over the year, including equity, waqf, money market, real estate, and ETFs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong> <strong>Saudi Depositary <\/strong><strong>Receipts (SDRs) <\/strong><strong>are set to launch<\/strong><strong> on Tadawul<\/strong>, giving local investors access to foreign-listed shares without needing to open international trading accounts, according to separate statements from the <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3833.aspx\" style=\"\" rel=\"noopener\">CMA<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/rules-guidance\/capital-market-overview\/saudi-depositary-receipts\/!ut\/p\/z1\/lY_NCoJAFEafxQeI-cxxyuWVcmbK_ElEm03MKoSyiOj5k9kFaXV3F86B7zDDWmZ6--xO9tFde3se_oMRR5lHUHILruIsgQizVbmmwgf5rHFASAJztUSeU7RAmWxiqVMKuObM_OWjKsLBL3ZBij0kxG8-Ro7w3TcOGSmIMz4NuMR34EODAyZGVvbObpe6btHpGXneC7fnG-c!\/dz\/d5\/L0lHSkovd0RNQUZrQUVnQSEhLzROVkUvZW4!\/\" style=\"\" rel=\"noopener\">Tadawul<\/a>. The move was first announced back <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7156b711-d5cb-49ab-91ea-3e26b255a3eb\/foreign-issuers-could-soon-be-able-to-list%253cmark%253e-sdrs%253c%2Fmark%253e-on-tadawul\" style=\"\" rel=\"noopener\">in January<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SDRs?<\/strong> Think of SDRs as a mirror. Each receipt represents a share in a foreign company, held by a custodian on behalf of the local investor. The key twist? These receipts are listed, traded, and settled in SAR on the Saudi Exchange \u2014 no need for a foreign brokerage account or conversion into a foreign currency. Investors receive the same rights as shareholders in the underlying company, including voting rights and dividends.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors can also redeem the SDRs for the underlying foreign shares<\/strong>, giving them flexibility to switch between the company\u2019s original overseas listing venue and that of Tadawul.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ball is rolling: <\/strong>CMA-licensed financial firms have been in ongoing discussions with Tadawul on the issuance of SDRs, with approvals yet to be issued, Chief of Listing at Tadawul Nasser Alajaji told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2025\/07\/10\/%D8%AA%D8%AF%D8%A7%D9%88%D9%84-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%B4%D9%87%D8%A7%D8%AF%D8%A7%D8%AA-%D8%A7%D9%84%D8%A7%D9%8A%D8%AF%D8%A7%D8%B9-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B9%D8%B2%D8%B2-%D9%85%D9%83%D8%A7%D9%86%D8%A9-%D8%A7%D9%84%D9%85%D9%85%D9%84%D9%83%D8%A9-%D9%83%D9%85%D8%B1%D9%83%D8%B2-%D9%85%D8%A7%D9%84%D9%8A-%D8%AF%D9%88%D9%84%D9%8A\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. Some 6.9 mn investors \u2014 including institutions and individuals \u2014 will be allowed to trade SDRs on Tadawul, Alajaji added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The authority also approved amendments making it easier for clients to <\/strong><strong>open investment accounts in the Kingdom<\/strong>, according to a separate <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3837.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. GCC-based retail investors can now invest directly in TASI by opening an investment account and taking their pick of a wider range of securities. This marks a change from previous regulations which restricted investments to debt markets, the Nomu parallel market, investment funds, and derivatives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moved on? No problem:<\/strong> Investors who opened investment accounts while residing in the GCC can continue investing in TASI shares even after they leave.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE- <\/strong>The Shura Council urged the CMA to study the creation of a dedicated platform for qualified investors to trade real estate mortgage-backed securities, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2354916\" style=\"\" rel=\"noopener\">SPA<\/a> reports. The move would mark a significant shift from mortgages sitting on bank balance sheets to a tradable debt market, unlocking liquidity and paving the way for broader securitization.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98660\" 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=\"98660\">\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\">OIL WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/13\/iea-energy-ministry-tell-different-tales-on-june-oil-output\/\">\r\n                            IEA and Riyadh offer clashing oil output figures for June                        <\/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\/07\/13\/iea-energy-ministry-tell-different-tales-on-june-oil-output\/\" 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\/07\/13\/iea-energy-ministry-tell-different-tales-on-june-oil-output\/')\">\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\/07\/13\/iea-energy-ministry-tell-different-tales-on-june-oil-output\/\">\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=IEA, Energy Ministry tell different tales on June oil output&url=https:\/\/enterpriseam.com\/ksa\/2025\/07\/13\/iea-energy-ministry-tell-different-tales-on-june-oil-output\/\">\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\/07\/13\/iea-energy-ministry-tell-different-tales-on-june-oil-output\/&title=IEA, Energy Ministry tell different tales on June oil output\">\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=IEA%2C+Energy+Ministry+tell+different+tales+on+June+oil+output+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F07%2F13%2Fiea-energy-ministry-tell-different-tales-on-june-oil-output%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\/07\/13\/iea-energy-ministry-tell-different-tales-on-june-oil-output\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/759.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98661\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/13\/iea-energy-ministry-tell-different-tales-on-june-oil-output\/759-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/759.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"759.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/759.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/759.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98660\" class=\"content-area-description single-story post-98660 post type-post status-publish format-standard has-post-thumbnail hentry category-oil-watch tag-enterpriseam-ksa tag-iea tag-oil-watch tag-opec-2 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\/7\/.74c876ee-5170-4f29-9dff-33bf8d57f60a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>IEA and Saudi<\/strong><strong> Arabia at odds<\/strong><strong>: <\/strong>Saudi Arabia pumped 9.8 mn bbl \/ d of oil last month, a 700k bbl \/ d increase from June, with 70% of the additional production exported, according to the The International Energy Agency\u2019s (IEA) <a target=\"_blank\" href=\"https:\/\/www.iea.org\/reports\/oil-market-report-july-2025\" style=\"\" rel=\"noopener\">July Oil Market Report<\/a>. The June figure is 430k barrels above the our Opec+ quota of 9.37 mn bbl \/ d, the agency says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT- The Energy Ministry reaffirmed the Kingdom\u2019s compliance with Opec+ quotas<\/strong>, citing a marketed supply of 9.35 mn bbl \/ d, it <a target=\"_blank\" href=\"https:\/\/x.com\/MoEnergy_Saudi\/status\/1943695313476231248\" style=\"\" rel=\"noopener\">said on X<\/a> on Friday. The Ministry acknowledged it briefly pumped extra oil into storage due to geopolitical tensions<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It all comes down to the metric:<\/strong> The Ministry is asking independent oil trackers to report its June output using an alternative \u201csupply-to-market\u201d metric instead of standard production, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-11\/saudis-ask-opec-watchers-for-data-change-to-stay-within-quota\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people it says are familiar with the matter. The IEA\u2019s figures include oil moved into storage of around 450k bbl \/ d, which \u2014 if excluded \u2014 would place the Kingdom within its Opec+ quota. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Behind the discrepancy: <\/strong>The Kingdom sought to strategically increase shipments to international storage locations, including the Sumed pipeline in Egypt which received an additional 5 mn barrels in June, to reposition supplies during the regional conflict. Those barrels, the Kingdom argues, have not been released to the market and should therefore not be considered a breach of its Opec+ target.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Gulf producers \u2014 including Iraq, Kuwait, and the UAE \u2014 rushed to export oil from the Persian Gulf following the outbreak of war between Israel and Iran, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-11\/saudis-surged-oil-output-far-above-opec-quota-in-june-iea-says\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing IEA data. Meanwhile, Iran\u2019s production declined by 400k bbl \/ d to 3.1 mn bbl \/ d due to the conflict.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi potentially flouting quotas raised some eyebrows<\/strong>, as the Kingdom has been mounting increasing pressure on Opec+ cheats \u2014 hello, Kazakhstan \u2014 to compensate for months of pumping above quotas, with the accelerated hikes agreed by the cartel since April widely framed as a Saudi-led push to punish overproducers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Surplus, surplus: <\/strong>The influx of crude is exacerbating a global market surplus caused by slowing demand and booming production from non-Opec+ countries, the IEA said. Oversupply has pushed oil futures down roughly 13% to around USD 69 a barrel since mid-June, overriding concerns about regional conflicts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> The IEA has downgraded its 2025 forecast for global oil consumption, penciling in 700k bbl \/ d growth \u2014 the slowest pace in 16 years excluding the 2020 pandemic. The IEA projects inventories will swell by 2-3 mn barrels per day through 4Q 2025 and 1Q 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite the gloomy forecast, the IEA noted that current conditions tell a different story.<\/strong> \u201cPrice indicators also point to a tighter physical oil market than suggested by the hefty surplus in our balances,\u201d the agency noted, pointing to the differences between monthly futures contracts and \u201chealthy\u201d margins for refiners.<\/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\">MORE FROM OIL MARKETS-<\/p>\n<ul>\n<li><strong>The Kingdom is set to increase its crude oil supply to China in August to the <\/strong><strong>highest level<\/strong><strong> in over two years<\/strong>, with about 1.7 mn bbl \/ d set to be shipped, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-oil-exports-china-rise-over-two-year-high-august-sources-say-2025-07-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported on Friday, citing sources it says are familiar with the matter. This marks a rise of 4 mn barrels compared to July and reflects Saudi efforts to win back market share in the world\u2019s largest importer.<\/li>\n<li><strong>Opec expects global oil demand to <\/strong><strong>average 105 mn bbl \/ d<\/strong><strong> this year<\/strong>, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/675.pdf\" style=\"\" rel=\"noopener\">2025 World Oil Outlook (pdf)<\/a>. The oil cartel expects demand to grow to 106.3 mn bbl \/ d in 2026 and then to 111.6 mn bbl \/ d in 2029, with demand continuing to grow through the mid-century, led by rising use in road transportation, aviation, and petrochemicals.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/iea\/\">IEA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil-watch\/\">oil watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/opec-2\/\">OPEC+<\/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=\"98662\" 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=\"98662\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/13\/prince-turki-bin-salmans-tharawat-holding-catches-intl-press-attention\/\">\r\n                            Prince Turki bin Salman\u2019s Tharawat Holding catches int\u2019l press attention                        <\/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\/07\/13\/prince-turki-bin-salmans-tharawat-holding-catches-intl-press-attention\/\" 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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attention&url=https:\/\/enterpriseam.com\/ksa\/2025\/07\/13\/prince-turki-bin-salmans-tharawat-holding-catches-intl-press-attention\/\">\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\/07\/13\/prince-turki-bin-salmans-tharawat-holding-catches-intl-press-attention\/&title=Prince Turki bin Salman\u2019s Tharawat Holding catches int\u2019l press attention\">\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=Prince+Turki+bin+Salman%E2%80%99s+Tharawat+Holding+catches+int%E2%80%99l+press+attention+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F07%2F13%2Fprince-turki-bin-salmans-tharawat-holding-catches-intl-press-attention%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\/07\/13\/prince-turki-bin-salmans-tharawat-holding-catches-intl-press-attention\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/725.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98663\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/13\/prince-turki-bin-salmans-tharawat-holding-catches-intl-press-attention\/725-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/725.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"725.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/725.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/725.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98662\" class=\"content-area-description single-story post-98662 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-enterpriseam-ksa tag-investment-watch tag-saudi-in-the-news tag-tharawat-holding 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\/7\/.6236f507-bbdd-4756-aed5-4023e591cdf0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Th<\/strong><strong>arawat Holding\u2019s rising star as a gatekeeper for foreign investors in the Kingdom has <\/strong><strong>earned it growing importance<\/strong> \u2014 and a spotlight from <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-10\/saudi-arabia-investment-group-run-by-royal-is-key-power-broker\" style=\"\" rel=\"noopener\">Bloomberg<\/a> <strong>. <\/strong>Under the management of Prince Turki bin Salman, the firm\u2019s close ties to the Royal Court has positioned it to complement the role of the Public Investment Fund in driving Vision 2030 programs.<\/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>Founded in 2008<\/strong>, the firm helps direct foreign investment flows into sectors including infrastructure, mining, and defense, overseeing assets valued at north of USD 250 bn, the business news service reports, citing sources it says are in the know.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saving mns:<\/strong> Tharawat manages the sprawling network of contractors tasked with bringing the Kingdom\u2019s projects to life, with the aim of keeping costs in check. Presenting rival bids and vetting bidders has enabled the company to bring down costs of gigaprojects by hundreds of mns of USD, according to Bloomberg.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tharawat-holding\/\">Tharawat Holding<\/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=\"98664\" 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=\"98664\">\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\/07\/13\/pifs-new-murabba-taps-arup-to-design-2034-world-cup-stadium\/\">\r\n                            Uk\u2019s Arup awarded design contract for a 2034 World Cup stadium                        <\/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\/07\/13\/pifs-new-murabba-taps-arup-to-design-2034-world-cup-stadium\/\" 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 stadium is part of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3b473a40-965c-44aa-b4d7-d023fd47bcf2\/saudi-has-multiple-multi-bn-usd-construction-projects-in-the-pipeline-%25e2%2580%2594-here%25e2%2580%2599s-a-rundown-of-high-profile-gigaprojects\" style=\"\" rel=\"noopener\">USD 50 bn New Murabba development<\/a> and will be a key venue for the 2034 Fifa World Cup. No financial details were disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More details:<\/strong> Arup will handle the design, planning, and operations advice, with the project expected to be finished by 2032, <a target=\"_blank\" href=\"https:\/\/www.tradearabia.com\/News\/434720\/Arup-to-design-iconic-45%2c000-seat-World-Cup-2034-stadium\" style=\"\" rel=\"noopener\">TradeArabia<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong> <strong>Shrimp Nat<\/strong><strong>ion hooks Olive Rock for expansion:<\/strong> Local seafood restaurant concept chain <a target=\"_blank\" href=\"https:\/\/shrimpnation.com\" style=\"\" rel=\"noopener\">Shrimp Nation<\/a> sold a 30% stake for an undisclosed sum to UAE-based private equity firm <a target=\"_blank\" href=\"https:\/\/www.oliverockpartners.com\/\" style=\"\" rel=\"noopener\">Olive Rock Partners<\/a> to fund its expansion across the Kingdom and beyond, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/olive-rock-partners-invests-in-influential-minority-stake-in-shrimp-nation-a-leading-homegrown-saudi-dining-brand-kipiyfyj\" style=\"\" rel=\"noopener\">press release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Shrimp Nation:<\/strong> Founded by Mohammed Abualizz (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mohammedabualizz\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) in 2018, Shrimp Nation operates 35 branches fusing local and international flavors across the Middle East region, including the Kingdom, Jordan, Egypt, Bahrain, and Qatar.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Neo Space <\/strong><strong>acquires Earth observation platform:<\/strong> PIF-owned space services provider Neo Space Group (NSG) finalized the acquisition of Earth observation platform <a target=\"_blank\" href=\"https:\/\/up42.com\/\" style=\"\" rel=\"noopener\">UP42 GmbH<\/a> from Airbus Defence and Space, according to a <a target=\"_blank\" href=\"https:\/\/neospacegroup.com\/english\/news\/neo-space-group-completes-acquisition-of-up42-from-airbus-defence-and-space\" style=\"\" rel=\"noopener\">press release<\/a>. Financial details were not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> NSG entered into a definitive agreement with Airbus Defense and Space <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/99071852-1cc8-4119-80a2-5ac317341fb8\/moody%25e2%2580%2599s-upgrades-src%25e2%2580%2599s-long-term-issuer-rating-to-a1,-but-revises-outlook-to-stable\" style=\"\" rel=\"noopener\">last<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/99071852-1cc8-4119-80a2-5ac317341fb8\/moody%25e2%2580%2599s-upgrades-src%25e2%2580%2599s-long-term-issuer-rating-to-a1,-but-revises-outlook-to-stable\" style=\"\" rel=\"noopener\">December<\/a> to acquire UP42, a platform that provides access to data and analytics from over 80 geospatial companies.<\/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\">EXPANSION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UK-based<\/strong><strong> tech company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/36zero.io\" style=\"\" rel=\"noopener\">36Zero<\/a><\/strong><strong> opened an office in Riyadh with support from regional <\/strong><strong>business expansion platform AstroLabs<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/insight.astrolabs.com\/uks-36zero-expands-to-saudi-arabia-with-astrolabs-to-lead-giga-project-digitalization\/\" style=\"\" rel=\"noopener\">press release<\/a>. The tech company\u2019s solutions help manage worker safety, project costs, and project tracking for large-scale infrastructure projects. The company has already worked on major Saudi projects like Neom and New Murabba and plans to build more partnerships with key players like Aramco, Ma\u2019aden, and Diriyah Company within the next year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CAPITAL MARKETS-<\/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:\/\/winveston.com\/en\/\" style=\"\" rel=\"noopener\">WinVest<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/winveston.com\/en\/\" style=\"\" rel=\"noopener\">on Capital<\/a><\/strong><strong> received the green light <\/strong><strong>from the Capital Market Authority for the <\/strong><strong>public offering of its <\/strong><strong>Money Market Fund<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/NEWS\/Pages\/CMA_N_3838.aspx\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/36zero\/\">36Zero<\/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\/astrolabs\/\">AstroLabs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-market-authority\/\">Capital Market Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/environment-ministry\/\">Environment Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/murabba\/\">Murabba<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neo-space-group-nsg\/\">Neo Space Group (NSG)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/shrimp-nation\/\">Shrimp Nation<\/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=\"98666\" 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=\"98666\">\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\/07\/13\/fed-split-on-rate-cuts\/\">\r\n                            Fed officials see rate cuts ahead, disagree on timing and scale                        <\/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\/07\/13\/fed-split-on-rate-cuts\/\" 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\/07\/13\/fed-split-on-rate-cuts\/')\">\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\/07\/13\/fed-split-on-rate-cuts\/\">\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=Fed split on rate cuts&url=https:\/\/enterpriseam.com\/ksa\/2025\/07\/13\/fed-split-on-rate-cuts\/\">\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\/07\/13\/fed-split-on-rate-cuts\/&title=Fed split on rate cuts\">\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=Fed+split+on+rate+cuts+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F07%2F13%2Ffed-split-on-rate-cuts%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\/07\/13\/fed-split-on-rate-cuts\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/715.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98667\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/13\/fed-split-on-rate-cuts\/715-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/715.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"715.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/715.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/715.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98666\" class=\"content-area-description single-story post-98666 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets tag-planet-finance tag-us-federal-reserve 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\/7\/.49266d73-482d-42cd-b4e7-87a46e79c8c6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Doves circlin<\/strong><strong>g, but no consensus just yet: <\/strong>Most Federal Reserve officials see interest rate cuts coming this year but remain divided on when and by how much, <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/674.pdf\" style=\"\" rel=\"noopener\">minutes (pdf)<\/a> from the Fed\u2019s 17-18 June meeting show. While \u201cmost participants assessed that some reduction [\u2026] would likely be appropriate,\u201d others cautioned against moving too soon, citing a still-resilient economy and inflation that remains above target.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The keyword is tariffs: <\/strong>The divide is mostly due to a lack of certainty around the impact of tariffs on inflation. \u201cWhile a few participants noted that tariffs would lead to a one-time increase in prices and would not affect longer-term inflation expectations, most participants noted the risk that tariffs could have more persistent effects on inflation,\u201d the minutes said. Some also said inflationary effects could be \u201cmore limited\u201d if firms adapt or trade agreements are struck.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The majority of Fed policymakers expect two or more rate cuts this year, after they <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/01012b53-9d23-4a5c-9062-14a2ed75a5ac\/fed-stays-the-course-on-its-wait-and-see-approach-amid-rising-economic-uncertainty\" style=\"\" rel=\"noopener\">held benchmark rates steady in June<\/a> at 4.25-4.50% for the fourth consecutive meeting.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Views are diverging on the next meeting: <\/strong>Some policymakers floated a cut \u201cas soon as the next meeting\u201d at the end of the month, while others saw no need for reductions at all this year. On the question of how much, several said the current rate \u201cmay not be far\u201d from neutral, implying limited room for easing. Others pointed to softening inflation and labor market cooling, warning of \u201cdifficult tradeoffs\u201d if inflation proves sticky while employment weakens.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The data sends mixed signals\u2026: <\/strong>June job growth surprised to the upside with 147k new payrolls and a drop in unemployment to 4.1%, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/07\/09\/most-fed-officials-see-rate-cuts-coming-but-opinions-vary-widely-on-how-many-minutes-show.html\" style=\"\" rel=\"noopener\">CNBC<\/a> reports. Still, consumers are pulling back, with May retail sales falling 0.9% and personal spending dipping 0.1%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2026and Trump applies pressure: <\/strong>President Donald Trump continues to publicly lash out at Fed Chair Jerome Powell, demanding deep cuts and even calling for his resignation. Powell has pushed back, stressing the Fed will base its decisions on data, not politics.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\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>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,277<\/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: -6.3%)<\/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>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\">1,445<\/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: -4.3%)<\/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>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,480<\/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: -12.7%)<\/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\">33,324<\/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: +12.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,065<\/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: +6.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,855<\/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: +13.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6,260<\/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: +6.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,941<\/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: +9.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,383<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0% (YTD: +10.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 70.36<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.5%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.31<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7%<\/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 3,364<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 117,423<\/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: +25.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Sukuk\/bond market index<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">911.63<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P 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\">145.86<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (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>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\">16.40<\/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\">+4.0% (YTD: -5.5%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI <\/strong>remained unchanged on Thursday on turnover of SAR 4.9 bn. The index is down 6.3% 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> SHL (+9.9%), Cenomi Retail (+5.8%) and Sisco Holding (+4.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Masar (-6.1%), Jabal Omar (-2.8%) and Jouf Cement (-2.7%).<\/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> rose 0.1% on Thursday on turnover of SAR 33.2 mn. The index is down 12.7% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Mayar (+22.0%), Anmat (+10.2%) and Future Care (+9.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Almujtama Medical (-6.0%), Alrasheed (-5.5%) and Saudi Top (-4.8%).<\/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>Alwaha REIT<\/strong><strong> Fund-manager <\/strong><strong>Wasatah Capital<\/strong><strong> plans to raise SAR 47.9 mn<\/strong>, which would place the fund\u2019s total capital at SAR 210 mn and give it steam to finance the acquisition of the Al Jawhara Residential Building in Riyadh, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/698.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a>. The additional units will be offered at SAR 10 per unit from July 15 to July 28, with investors allowed to subscribe to a minimum of 50 units each.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS:<\/strong> AlJazira Capital was tapped as the lead manager. Receiving agents include AlJazira Capital, BSF Capital, Al Rajhi Capital, SNB Capital, Riyad Capital, Albilad Capital, Alistithmar Capital, Derayah Financial, Alinma Capital, ANB Capital, Yaqeen Capital, Al Khabeer Capital, SAB Invest, Sahm Capital, GIB Capital, Musharaka Capital, EFG Hermes Saudi Arabia, and Awaed Capital.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/us-federal-reserve\/\">US Federal Reserve<\/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=\"98668\" 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\/07\/13\/98668\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98668\" class=\"content-area-description single-story post-98668 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">JULY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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>8 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 style=\"font-weight:400;\">17 July (Thursday): Deadline to register for the Kingdom\u2019s first civil aviation hackathon<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/avithon.gaca.gov.sa\/\" style=\"\">Avithon<\/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>20 July (Sunday<\/span><span>): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rega.gov.sa\/media-center\/%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1-%D8%AA%D8%B7%D9%84%D9%82-%D9%85%D9%84%D8%AA%D9%82%D9%89-%D8%A7%D9%84%D9%88%D8%B3%D8%A7%D8%B7%D8%A9-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D9%8A%D8%A9-%D8%A8%D9%86%D8%B3%D8%AE%D8%AA%D9%87-%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A%D8%A9\/\" style=\"\">Real Estate Brokerage Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention and Exhibition Center, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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\">3Q 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The National Water Company is expected to award a construction contract<\/span><span style=\"font-weight:400;\"> for the Hail Region Water Networks project.<\/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 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 style=\"font-weight:400;\">1 October (Wednesday): Electronic salary transfer via the Musaned platform to include employers with two or more domestic workers. <\/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>27-30<\/span><span> October (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.globalhealthsaudi.com\/en\/home.html\" style=\"\">Global Health Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Exhibition and Convention Center, 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 style=\"font-weight:400;\">22 November (Saturday): The Ring IV, ANB arena, 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>24-26 November (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/metropolismadinah.com\/?fbclid=PAQ0xDSwLMs5ZleHRuA2FlbQIxMQABp3xpeFg9m7Hz31fjVZzOp_vjNcg3Izf3gX1aPkZ5-pZKke9fFx4DBPmxO4iX_aem_DecvsJSbE5YUJoqrvW-uUg\" style=\"\">Metropolis Madinah<\/a><\/span><span style=\"font-weight:400;\"> Conference for civilizational capitals, King Salman International Convention Centre (KSICC), Al Madinah.<\/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>31 December (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/ar\/MediaCenter\/News\/Pages\/news_1395.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>December: <\/span><span>Made in S<\/span><span style=\"font-weight:400;\">audi exhibition, Riyadh International Convention and Exhibition Center, Riyadh<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">UN Trade and Development Global Supply Chain Forum <\/span><span style=\"font-weight:400;\">to take place in Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 January (Thursday): Electronic salary transfer via the Musaned platform becomes mandatory for all domestic workers in the Kingdom.<\/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>13-14 February (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.timeoutjeddah.com\/news\/formula-e-2026-jeddah-circuit\" style=\"\">Jeddah E-Prix 2026<\/a><\/span><span style=\"font-weight:400;\">, Jeddah.<br \/><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>31 March (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/ar\/MediaCenter\/News\/Pages\/news_1396.aspx\" style=\"\">Zatca<\/a><\/span><span style=\"font-weight:400;\">\u2019s 23rd 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>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 style=\"font-weight:400;\">, The Arena, 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 style=\"font-weight:700\">Signposted to happen sometime in 2027:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The World Water Forum <\/span><span style=\"font-weight:400;\">takes place in Riyadh.<\/span><\/li>\n<li><span style=\"font-weight:700\">The Ocean Race<\/span><span style=\"font-weight:400;\"> finishes in Amaala on the Red Sea.<\/span><\/li>\n<li><span style=\"font-weight:700\">Riyadh-Kudmi transmission line<\/span><span style=\"font-weight:400;\"> to be completed.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2Q 2027:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The Hail Region Water Networks Project<\/span><span style=\"font-weight:400;\"> is expected to be completed.<\/span><\/li>\n<\/ul>\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>Industrial production up in May | Tadawul\u2019s investor base expands | IEA, Energy Ministry clash on June output<\/p>\n","protected":false},"featured_media":98649,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-98648","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"7378b9b5-914a-4d66-9499-1bb7644d65a7","teaser":"Industrial production up in May | Tadawul\u2019s investor base expands | IEA, Energy Ministry clash on June output","photo_url":"https:\/\/ent.news\/2025\/7\/540.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>White Land Tax regs set up 2.5% base fee on undeveloped plots - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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