{"id":98863,"date":"2025-07-20T00:00:00","date_gmt":"2025-07-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=98863"},"modified":"2025-12-14T21:33:13","modified_gmt":"2025-12-14T21:33:13","slug":"aramcos-jafurah-gas-project-nears-landing-usd-10-bn-infrastructure-financing-from-blackrock-led-consortium","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/aramcos-jafurah-gas-project-nears-landing-usd-10-bn-infrastructure-financing-from-blackrock-led-consortium\/","title":{"rendered":"Aramco\u2019s Jafurah gas project nears landing USD 10 bn infrastructure financing from BlackRock-led consortium"},"content":{"rendered":"<section id=\"98865\" 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=\"98865\">\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\/20\/elon-musks-xai-eyes-the-kingdoms-data-centers-is-neom-considering-laying-off-relocating-employees\/\">\r\n                            THIS MORNING: Elon Musk's xAI eyes the Kingdom\u2019s data centers + Is Neom considering laying off, relocating employees?                        <\/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\/20\/elon-musks-xai-eyes-the-kingdoms-data-centers-is-neom-considering-laying-off-relocating-employees\/\" 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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Big energy players are making waves in this morning\u2019s issue, with updates from Aramco and Acwa Power leading our news well.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>Aramco\u2019s Jafurah gas project is said be nearing a USD 10 bn investment from BlackRock-led consortium, which is expected to follow the structure of the oil giant\u2019s \u201clease and leaseback\u201d agreements. Meanwhile, Acwa Power\u2019s rights issue was over 96% covered, coinciding with Senegal\u2019s government inking USD 800 mn agreements with the renewables giant for what will be the largest desalination project in West Africa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>BUT FIRST- We\u2019re delighted this morning to welcome our friends from Hassan Allam <\/strong><strong>Properties as our newest pillar sponsor here on EnterpriseAM Saudi Arabia. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAP is a developer of world-class residential communities, mixed-use developments, <\/strong><strong>and vacation homes <\/strong>that cater to families looking for exclusive experiences and private seaside getaways in prime locations across Egypt. A three-generation family business, HAP draws on 80 years of heritage and has been Egypt\u2019s premier boutique developer since the 1990s. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAP\u2019s portfolio of communities includes SwanLake Residences <\/strong>(NewCairo, ParkView NewCairo, SwanLake Katameya, and more) as well as destinations in West Cairo, El Gouna, Ain Sokhna, and, of course, the North Coast \u2014 25 integrated and sub-developments across a national footprint and in partnership with leading global industry names. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our friends at HAP share three of our most important values: Innovation, ambition, and <\/strong><strong>family<\/strong>, and have long been our partners as the anchor sponsors of the EnterpriseAM Weekend Edition in Egypt. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAP is pursuing new opportunities in Saudi Arabia and beyond.<\/strong> Whether for investment or primary use, they see significant appetite for high-quality Egyptian real estate from Saudi nationals, foreign residents of the Kingdom \u2014 and, of course, from Egyptians living and working in Saudi. HAP trusts EnterpriseAM to deliver \u201cthe quality, the reach, and the micro-selective and targeted audiences\u201d that have marked the \u201cbrilliant success story\u201d they\u2019ve enjoyed with the EnterpriseAM Weekend Edition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAP chose EnterpriseAM Saudi for our unique ability to simultaneously reach Egyptian <\/strong><strong>expats, global markets, and high-profile execs across our region. <\/strong>\u201cWe couldn\u2019t think of a better, more selective and targeted vehicle than EnterpriseAM \u2014 delivering the right executives and CEOs a unique early-morning report on everything that is happening economically \u2014 and in real estate, of course.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Please join us in thanking HAP for their trust \u2014 EnterpriseAM Saudi Arabia remains <\/strong><strong>available without charge thanks to their generous support.<br \/>***<\/strong><\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Master plans <\/strong><strong>and new corporate identities for King Fahd International, Al Ahsa, and <\/strong><strong>Qaisumah airports will be out today<\/strong>, along with the strategy for Dammam airports, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2363193\" style=\"\" rel=\"noopener\">SPA<\/a> reported on Friday. Today will also see the inauguration of 77 aviation-related infrastructure projects worth SAR 1.6 bn in the Eastern Province.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>The <\/strong><strong><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\">Real Es<\/a><\/strong><strong><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\">tat<\/a><\/strong><strong><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\">e Brokerage Forum<\/a><\/strong><strong> kicks off today in <\/strong><strong>Riyadh International Convention <\/strong><strong>and Exhibition Center.<\/strong> The event, which takes place two years after the real estate brokerage law came into effect, will discuss legislative updates in the sector, empowerment prospects, and the role of brokers in enhancing the value and sustainability of real estate products.<\/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 set to sizzle with a high of 46\u00b0C and a low of 30\u00b0C. <strong>Jeddah<\/strong> will stay milder, reaching 35\u00b0C at its peak and slipping to 29\u00b0C later in the day. <strong>Makkah<\/strong> will see the heat climb to 43\u00b0C, with temperatures easing to 32\u00b0C as the day winds down.<\/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\">HAPPENING TOMORROW-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt4\"><\/a> <\/strong><strong>Trading <\/strong><strong>wil<\/strong><strong>l resume tomorrow for <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-detail-wcm\/?newsId=8941&locale=en\" style=\"\" rel=\"noopener\">Saudi Azm for Communication and Information<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-detail-wcm\/?newsId=8941&locale=en\" style=\"\" rel=\"noopener\">Technology<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-detail-wcm\/?newsId=8940&locale=en\" style=\"\" rel=\"noopener\">Obeikan Glass<\/a><\/strong> <strong> on the main index TASI<\/strong>, with a 10% daily price fluctuation cap, according to separate Tadawul disclosures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> The Saudi Exchange suspended trading of Saudi Azm and Obeikan Glass shares <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a1969293-7208-4ab6-9afc-33aa68249dfb\/\" style=\"\" rel=\"noopener\">last Tuesday<\/a> as both companies prepare to transition from the Nomu parallel market to the main market Tadawul. The two companies received approval for the move <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/df6099aa-feb6-4a99-9886-90914ac7ba35\" style=\"\" rel=\"noopener\">in late June<\/a>, following the companies\u2019 resubmission of their transfer requests in May after an earlier rejection by the exchange. Both companies were listed on Nomu in early 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Azm enlisted Al Rajhi Capital as financial advisor, KLA as counsel, and Deloitte as financial due diligence advisor. Meanwhile, Obeikan appointed Al Rajhi Capital as financial advisor, KLA as counsel, and PwC as financial due diligence advisor.<\/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\">NEWS TRIGGERS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Aramco<\/strong><strong> is expected to publish its 2Q 2025 earnings on Tuesday, 5 August<\/strong>, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/investors#:~:text=Saudi%20Aramco%20will%20publish%20its%20half%2Dyear%202025%20results%20on%20August%205%2C%202025.\" style=\"\" rel=\"noopener\">website<\/a>. The oil giant is forecast to post SAR 92.8 bn in net income for the quarter, up from SAR 106.2 bn recorded in the same period last year, according to <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/ar\/article\/articledetail\/id\/1828556\" style=\"\" rel=\"noopener\">Argaam<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The company posted a 4.6% y-o-y drop in net income to SAR 97.5 bn (USD 26 bn) in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f8f95ee1-3530-42c2-b734-8267500ec43a\" style=\"\" rel=\"noopener\">1Q 2025<\/a>, exceeding analyst estimates by some SAR 3.4 bn amid weaker oil prices caused by global economic uncertainty.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The<\/strong><strong> new ins.<\/strong><strong> d<\/strong><strong>raft law will be up for public consultation on the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/istitlaa.ncc.gov.sa\/ar\/Finance\/IA\/InsuranceLaw\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Istitlaa<\/a><\/strong><strong> platform until <\/strong><strong>next Tuesday, 22 July<\/strong>, the Ins. Authority said. The <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1212.pdf\" style=\"\" rel=\"noopener\">proposed law (pdf)<\/a> aims to stabilize the sector, improve policyholders' protection, encourage fair competition, and regulate contractual relationships.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>The governme<\/strong><strong>nt extended the deadline for applying for groundwater wells licenses <\/strong><strong>by one <\/strong><strong>year<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.okaz.com.sa\/economy\/saudi\/2205066\" style=\"\" rel=\"noopener\">Okaz<\/a> reports, citing a statement from Environment, Water and Agriculture Minister Abdulrahman Al Fadley. The extension does not apply to local agricultural companies, large-scale wheat farmers, or other activities overseen by the Saudi Water Authority and the Saudi Food and Drug Authority, such as water stations and bottled water factories.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong> <strong>Investors a<\/strong><strong>nd entrepreneurs have until 20 August to submit bids for a new<\/strong><strong> 50k sqm <\/strong><strong>hydroponic and greenhouse project in Tabuk<\/strong> via the <a target=\"_blank\" href=\"https:\/\/furas.org\/home?userType=student\" style=\"\" rel=\"noopener\">Furas<\/a> platform, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2363313\" style=\"\" rel=\"noopener\">SPA<\/a> reported yesterday. The project aims to produce vegetables using water and energy-efficient farming methods.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <a id=\"wwtt1\"><\/a> #1- <\/strong><strong>Elon Musk's xA<\/strong><strong>I is in talk<\/strong><strong>s to lease data center capacity in the Kingdom<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-16\/musk-s-xai-in-talks-with-saudi-firm-humain-on-data-center-deal\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported on Wednesday, citing people it said are familiar with the matter. The startup is reportedly weighing a long-term proposal for several gigawatts from PIF-backed Humain \u2014 whose infrastructure is not yet built \u2014 against a more short-term agreement for a 200 MW facility already under construction by an unnamed company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Rumors circulated <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ebe2bcf7-13e5-4e62-8fcf-939001103276\/national-ai-curriculum-to-hit-schools-starting-this-year#:~:text=Setting%20the%20record%20straight\" style=\"\" rel=\"noopener\">last week<\/a> that the Public Investment Fund would be a key investor in a potential USD 170-200 bn fundraising round for xAI \u2014 a claim Musk denied, stating the startup is not interested in raising capital right now. The sovereign fund already holds an indirect stake in xAI through the Kingdom Holding Company\u2019s USD 800 mn investment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> #2- <\/strong><strong>Workforce c<\/strong><strong>uts <\/strong><strong>at Neom?<\/strong> Neom is said to be considering laying off 1k employees and relocating another 1k, <a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/07\/18\/2025\/saudi-considers-neom-job-cuts-relocations-amid-cost-pressures\" style=\"\" rel=\"noopener\">Semafor<\/a> reports, citing people it says are familiar with the matter. The move \u2014 reportedly part of a \u201ccomprehensive review\u201d to reassess <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/12e0076f-2c22-49ca-872f-b1d2c0a1c8d1\/\" style=\"\" rel=\"noopener\">budgets and progress<\/a> \u2014 effectively ends a live on-site policy and reduces employee benefits, including housing and food.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Many hands are involved: <\/strong>The gigaproject employed around 5k full-time staff from 100 countries, in addition to some 140k contractors, former CEO Nadhmi Al Nasr <a target=\"_blank\" href=\"https:\/\/saudigazette.com.sa\/article\/642862\" style=\"\" rel=\"noopener\">said<\/a> in May 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> #3- <\/strong><strong>Gas Arabian Se<\/strong><strong>rvices eyes main market listing:<\/strong> Nomu-listed <a target=\"_blank\" href=\"https:\/\/gasarabian.com\/\" style=\"\" rel=\"noopener\">Gas Arabian Services<\/a> is making its move up the capital markets ladder, formally submitting a request to transition to the main market Tadawul, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88818&anCat=1&cs=9528&locale=en\" style=\"\" rel=\"noopener\">a filing<\/a> to the bourse. The company\u2019s share price gained 0.5% to SAR 17.5 at Thursday\u2019s close.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What it takes to make the cut: <\/strong>To transition from Nomu to the main market, a company must have been listed on Nomu for at least two years and satisfy all main market listing conditions \u2014 except for market capitalization, where a lower threshold of a SAR 200 mn average over the past six months applies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- <\/strong><strong>GCC economie<\/strong><strong>s expected to grow 3.6% this year: <\/strong>The Institute of International Finance (IIF) projects the aggregate real GDP of GCC countries to expand by 3.6% this year, notably up from the 2% growth recorded in 2024, according to a recent report by the institute picked up by <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/business\/gcc-gdp-growth-2025?_refresh=true\" style=\"\" rel=\"noopener\">Khaleej Times<\/a>. This significant acceleration is driven by higher oil production and continued expansion in non-oil sectors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IIF expects non-resident private capital inflows into the Gulf economies to hit USD <\/strong><strong>202 bn this year<\/strong>, further increasing to USD 217 bn in 2026. This increase will be largely fueled by sustained growth in foreign direct investment (FDI) in the UAE and portfolio debt flows in Saudi Arabia. The IIF also sees net capital outflows in the Gulf dropping to USD 12 bn in 2025, significantly below its USD 279 bn peak registered in 2022, which it attributed to a dip in aggregated current account surplus.<\/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>Oil, gold, sug<\/strong><strong>ar, rice, and oils are lined up to be the first commodities to trade on the <\/strong><strong>upcoming local commodities exchange<\/strong>, Target Investment Group Chairman Noureldin Mohamed told Asharq Business last Thursday (<a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/videos\/90379\/%D9%85%D8%A7-%D8%A7%D9%84%D8%B3%D9%84%D8%B9-%D8%A7%D9%84%D9%85%D8%B1%D8%AA%D9%82%D8%A8-%D8%AA%D8%AF%D8%A7%D9%88%D9%84%D9%87%D8%A7-%D9%81%D9%8A-%D8%A7%D9%84%D8%A8%D9%88%D8%B1%D8%B5%D8%A9-%D8%A7%D9%84%D8%B3%D9%84%D8%B9%D9%8A%D8%A9-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">watch, runtime: 5:29<\/a>). While prices would still follow global trends, local factors such as the exchange rate, geographical risks, and shipping disruptions would also influence pricing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The Industry and Mineral Resources Ministry announced <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/007d869c-60c4-4daa-b002-8dbc925e3480\/a%253cmark%253e-commodities%253c%2Fmark%253e-exchange-in-the-works%3F#:~:text=The%20Industry%20and%20Mineral%20Resources%20Ministry%20is%20working%20to%20establish%20a%20commodities%20exchange%20in%20Riyadh%20to%20reduce%20reliance%20on%20global%20market%20prices\" style=\"\" rel=\"noopener\">last week<\/a> that it\u2019s working to establish a commodities exchange in Riyadh to reduce reliance on global market prices. The exchange will help local producers to get fair prices based on domestic supply and demand, creating a regulated market for buyers and sellers.<\/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- S<\/strong><strong>tock market poised for a rebound? <\/strong>The Saudi exchange is experiencing \u201cunjustified\u201d negativity and is actually very attractive at its current valuations, Rassanah Capital\u2019s CEO Abdullah Al Rabdi told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/special-stories\/2025\/07\/17\/%D8%B1%D8%B5%D8%A7%D9%86%D8%A9-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D8%A7%D8%B3%D9%87%D9%85-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B9%D8%A7%D9%86%D9%8A-%D8%B3%D9%84%D8%A8%D9%8A%D8%A9-%D8%BA%D9%8A%D8%B1-%D9%85%D8%A8%D8%B1%D8%B1%D8%A9-%D9%88%D8%A7%D9%84%D8%AA%D9%82%D9%8A%D9%8A%D9%85%D8%A7%D8%AA-%D9%85%D8%BA%D8%B1%D9%8A%D8%A9-%D8%AC%D8%AF%D8%A7-\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> last Thursday. Al Rabdi attributed the current pessimistic investor sentiment to the ongoing corporate earnings season and the impact of geopolitical events. He expects an upward price correction in the near future, which could be accelerated by potential interest rate cuts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale: <\/strong>Al Rabdi highlighted strong market fundamentals, pointing to the market\u2019s price-to-earnings ratio being at a five-year low, and describing banknote dividend yields from major companies like STC, Al Rajhi Bank, and Aramco as \u201cexcellent,\u201d often exceeding 6%. The Saudi market has also underperformed global peers like the US, suggesting significant room for recovery.<\/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\"> CABINET WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new mandate and structure<\/strong><strong> for the General Organization for Irrigation (GOI) was <\/strong><strong>approved<\/strong>, establishing the agency as an independent body responsible for regulating and monitoring businesses and services related to irrigation, dams, and treated water reuse, according to the <a target=\"_blank\" href=\"https:\/\/uqn.gov.sa\/details?p=27274\" style=\"\" rel=\"noopener\">official gazette<\/a>. The agency received <a target=\"_blank\" href=\"https:\/\/spa.gov.sa\/N2354287\" style=\"\" rel=\"noopener\">Cabinet<\/a> approval last week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How is it governed and funded?<\/strong> The GOI will be governed by a board of directors headed by the Environment, Water, and Agriculture Minister, with funds coming directly from the state budget, remuneration for services provided, ROI, external donors, and special Cabinet allocations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Kingdom<\/strong><strong>\u2019s seaborne oil exports averaged 6.43 mn bbl \/ d in the first half of July, <\/strong><strong>potentially marking a 16-month high if the pace holds<\/strong>, according to preliminary data from <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-17\/saudi-oil-flow-surge-continues-into-early-july-after-output-hike\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. However, the figures are based on only two weeks of data, and the final monthly average may be lower. The elevated shipments likely reflect the tail end of June\u2019s production increase and the Kingdom\u2019s increased output quota under its July Opec agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The increased shipments were mostly Asia-bound: <\/strong>Exports to China rose to 2.1 mn bbl \/ d, and if sustained, would mark the highest monthly level since the production surge of April 2020. Shipments to India also climbed and could reach their highest level since December 2022. Meanwhile, flows to Egypt\u2019s Sumed pipeline fell to their lowest level YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In line with the year\u2019s trend:<\/strong> The four-week average stood at 6.2 mn bbl \/ d, aligning with the YTD average as weaker late-June flows offset the early-July surge \u2014 part of a broader pattern of higher shipments in the first half of the month observed throughout the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Opec\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d811f451-ba34-4e71-b77b-9fca2cf99009\/fii-institute-ceo-resigned%3F#:~:text=Opec%20tweak%20keeps%20Saudi%20in%20quota\" style=\"\" rel=\"noopener\">latest report<\/a> kept Saudi Arabia\u2019s June production within its quota by citing a figure just shy of 9.4 mn bbl \/ d, using a \u201csupply-to-market\u201d metric instead of the usual wellhead production figures. The change followed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c39034c7-4c8e-4c48-a71a-ef8947f7dd1d\/iea,-energy-ministry-tell-different-tales-on-june-oil-output\" style=\"\" rel=\"noopener\">request<\/a> from the Energy Ministry and stated that the extra oil produced due to geopolitical tensions went into storage and did not reach the market.<\/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>The Gr<\/strong><strong>een Falcons will compete for the 2026 World Cup ticket at home<\/strong>, hosting Indonesia and Iraq in Asia\u2019s preliminaries between 8-14 October, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/soccer\/saudi-arabia-meet-iraq-indonesia-qatar-take-uae-oman-world-cup-qualifiers-2025-07-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported last week. This marks the seventh time the Saudi national team has attempted to qualify for the World Cup since 1994.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> We\u2019ll go against Indonesia on 8 October, before facing off against Iraq on 14 October. Runners-up will get a second chance playing a home-and-away final play-off between 13-18 November to qualify for the World Cup.<\/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>Al Nassr ap<\/strong><strong>pointed Portuguese former player Jose Semedo as acting CEO<\/strong>, the club <a target=\"_blank\" href=\"https:\/\/x.com\/AlNassrFC_EN\/status\/1946306675495059822\" style=\"\" rel=\"noopener\">said on X<\/a> on Friday. Semedo, who has been working with the club for the past two years, is stepping in to help improve coordination during pre-season, <a target=\"_blank\" href=\"https:\/\/aawsat.com\/%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6%D8%A9\/%D8%B1%D9%8A%D8%A7%D8%B6%D8%A9-%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\/5166205-%D8%B1%D8%B3%D9%85%D9%8A%D8%A7%D9%8B-%D8%B3%D9%8A%D9%85%D9%8A%D8%AF%D9%88-%D8%B1%D8%A6%D9%8A%D8%B3%D8%A7%D9%8B-%D8%AA%D9%86%D9%81%D9%8A%D8%B0%D9%8A%D8%A7%D9%8B-%D9%85%D9%83%D9%84%D9%81%D8%A7-%D9%84%D9%84%D9%86%D8%B5%D8%B1\" style=\"\" rel=\"noopener\">Asharq Al Awsat<\/a> reports. He has already started his duties and attended the first training session under new head coach Luis Castro.<\/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 lawsuit against the Wall Street Journal is dominating global headlines this <\/strong><strong>morning: <\/strong>US President Donald Trump has filed a USD 10 bn defamation lawsuit against the Wall Street Journal, its owner Rupert Murdoch, Dow Jones, and News Corp after the newspaper published claims that Trump had contributed a suggestive letter to a scrapbook for Jeffrey Epstein\u2019s 50th birthday, marking his most aggressive legal challenge to media coverage since entering office. Reactions to the WSJ report and lawsuit have been sharply divided \u2014 even within Trump\u2019s base. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/trump-sues-wall-street-journal-over-epstein-report-seeks-10-billion-2025-07-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-19\/trump-s-ambitions-collide-with-epstein-fed-and-health-concerns?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/9cbc70f4-bd31-4049-a5b1-9e670a48a5ec\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/07\/19\/us\/politics\/inside-trump-epstein-friendship.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/2025\/jul\/18\/trump-libel-lawsuit-wsj-dow-jones-rupert-murdoch\" style=\"\" rel=\"noopener\">The Guardian<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Trump wants higher tariffs on EU goods:<\/strong> Trump is pushing for a 15-20% baseline tariff on EU imports, in an aggressive turn that could derail talks ahead of his self-imposed 1 August deadline, writes the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/43c98c4b-8772-4279-ad55-e46bd22409de\" style=\"\" rel=\"noopener\">Financial Times<\/a>, citing sources familiar with the matter. Trump is also unwilling to lower 25% auto tariffs and \u201cwould be happy to keep duties on the sector,\u201d according to the sources. The EU, which has already faced steep US duties on steel and aluminum, appears divided on countermeasures.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neom\/\">NEOM<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/xai\/\">xAI<\/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=\"98867\" 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\/108985.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>The Luxury of Certainty<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98868\" 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=\"98868\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/20\/aramcos-jafurah-gas-project-to-get-usd-10-bn-from-blackrock-led-consortium\/\">\r\n                            Aramco nears landing USD 10 bn infrastructure financing from BlackRock for Jafurah gas project                        <\/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\/20\/aramcos-jafurah-gas-project-to-get-usd-10-bn-from-blackrock-led-consortium\/\" 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 USD 100 bn project is considered the largest shale gas development outside the US.<\/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 details: <\/strong>The assets in question include gas pipelines and a gas processing plant within the Jafurah project, one of the sources told the newswire. A timeline for a final agreement was not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Same old structures: <\/strong>This transaction is expected to replicate the structure of two 2021 transactions, where Aramco raised nearly USD 28 bn through two \u201clease and leaseback\u201d agreements with investor groups including BlackRock and EIG. Investors took 49% stakes in Aramco\u2019s pipeline subsidiaries, receiving tariffs from Aramco for pipeline usage, while Aramco retained 51% ownership and control of the assets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Aramco is heavily investing in standalone gas fields to supply power plants with cleaner-burning fuel, with the Jafurah shale gas development being the flagship project, estimated to hold a whopping 229 tn cubic feet of gas (tcf) of gas. Initial production is expected by 3Q this year, slated to reach full output of 2 bcf\/d by around 2030. We have more details in our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2b1cdc43-3a41-4a0d-aa54-e1ae5c696d25\/the-kingdom%25e2%2580%2599s-liquid-fuel-displacement-program-is-making-progress\" style=\"\" rel=\"noopener\">deep dive<\/a> into the Liquid Fuel Displacement Program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Earlier this month, Aramco was reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/68e1b4bc-2436-4b73-9c57-4be80511b48a\/opec%2B-accelerates-output-hikes-for-august#:~:text=%231%2D%20Aramco%20is%20mulling%20the%20sale\" style=\"\" rel=\"noopener\">mulling the sale<\/a> of up to five of its gas-fired power plants to raise funds, potentially generating some USD 4 bn. The prospective sale is part of a broader strategy by the oil giant to free up capital, boost net income, cut costs, and support dividend payments to the Kingdom. This divestment strategy may extend to other non-core assets, including housing compounds, pipelines, and port infrastructure.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/blackrock\/\">BlackRock<\/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\/jafurah\/\">Jafurah<\/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=\"98870\" 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=\"98870\">\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\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/20\/acwa-power-raises-sar-6-9-bn-from-rights-issue-steps-into-senegal-with-largest-desalination-project-in-west-africa\/\">\r\n                            Acwa Power\u2019s rights issue 96.2% subscribed. PLUS: Senegal to get USD 800 mn desalination project                        <\/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\/20\/acwa-power-raises-sar-6-9-bn-from-rights-issue-steps-into-senegal-with-largest-desalination-project-in-west-africa\/\" 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\" 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           <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1880.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98871\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/20\/acwa-power-raises-sar-6-9-bn-from-rights-issue-steps-into-senegal-with-largest-desalination-project-in-west-africa\/1880-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1880.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1880.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1880.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1880.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98870\" class=\"content-area-description single-story post-98870 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-acwa-power tag-capital-markets tag-debt-watch tag-enterpriseam-ksa tag-institutional-investors tag-senegal tag-tadawul tag-water-desalination tag-west-africa 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\/.e16ebcff-bf6f-441b-aa59-f3cf7862da08.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Acwa Power<\/strong> <strong>raised <\/strong><strong>SAR 6.9 bn from the rights issue trading and new shares <\/strong><strong>subscription phase of its <\/strong><strong>SAR 7.1 bn rights issue<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88838&anCat=1&cs=2082&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> on Thursday. The offering, which concluded last week, was 96.2% covered, selling 32.7 mn shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> The renewables giant will run a rump offering of about 1.3 mn unsubscribed shares to institutional investors between 21-22 July. Shares will be allocated to the highest bidders, with a minimum price of SAR 210, to be distributed on a pro-rata basis. Any unsold shares will be purchased by underwriters at the offer price.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> Acwa Power\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0a3407c4-e865-42d3-828c-deca6ad518f9\" style=\"\" rel=\"noopener\">rights share issuance<\/a> will increase its capital by 4.63% to SAR 7.67 bn distributed across 766.5 mn shares, part of the company\u2019s strategy to triple its assets under management to USD 250 bn by 2030 and bolster its capital base.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We talked to CEO Marco Arcelli <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/dd52db63-90e4-41a7-963b-07bc4007a385\/%253cmark%253eacwa%253c%2Fmark%253e%253cmark%253e-power%253c%2Fmark%253e-ceo-marco-arcelli-on-the-sar-7.1-bn-rights-issue\" style=\"\" rel=\"noopener\">last week<\/a><\/strong>, to break down the details of the transaction and what it signals for the company\u2019s future. Arcelli highlighted that the rights share issuance will grant the company the immediate firepower to continue aggressive expansion, with 75-86% of the proceeds directed toward new projects in the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>SNB Capital is the lead manager on the transaction, in addition to serving as a financial advisor along with JP Morgan and Citigroup. The three banks are joined by Saudi Fransi Capital, FAB Capital, Emirates NBD Capital, and Natixis Saudi Investment as joint underwriters.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ALSO FROM ACWA POWER-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa Power inked USD 800 mn worth of agreements with Senegal\u2019s government to <\/strong><strong>develop the largest desalination project in West Africa, Grande-C\u00f4te<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.acwapower.com\/news\/acwa-power-signs-landmark-agreements-with-senegal-government-for-west-africas-largest-seawater-desalination-project-powered-by-renewable-energy\/\" style=\"\" rel=\"noopener\">press release<\/a>. The initiative aims to boost water security and infrastructure for the West African country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The project \u2014 implemented under a PPP contract \u2014 will see achieve financial closure by next year and operations kick off by 2031. The project will produce up to 400k cubic meters a day of desalinated water for Senegal\u2019s capital Dakar and its surroundings, delivered in two phases of 200k cubic meters each. The plant will be powered by renewables sourced from Senegal\u2019s national grid.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> The finalized agreement comes a year after Senegal scrapped the project\u2019s contracts <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9cbc7de8-f781-4080-8cd7-41be9a7b0437\/aramco-says-a-report-it%25e2%2580%2599s-talking-to-santos-is-inaccurate-and-stc%25e2%2580%2599s-bid-for-altice-portugal-has-reportedly-failed#:~:text=Senegal%20looks%20set%20to%20scrap%20a%20planned%20desalination%20project%20by%20renewables%20giant%20Acwa%20Power\" style=\"\" rel=\"noopener\">in<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9cbc7de8-f781-4080-8cd7-41be9a7b0437\/aramco-says-a-report-it%25e2%2580%2599s-talking-to-santos-is-inaccurate-and-stc%25e2%2580%2599s-bid-for-altice-portugal-has-reportedly-failed#:~:text=Senegal%20looks%20set%20to%20scrap%20a%20planned%20desalination%20project%20by%20renewables%20giant%20Acwa%20Power\" style=\"\" rel=\"noopener\">July 2024<\/a> over a dispute on the price of water provided. The updated agreement has a lower price of water, set at USD 0.69 per cubic meter (down from USD 0.76), along with a lower annual rental fee and a doubled solar capacity of 300 MW, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-18\/senegal-saudi-partner-ink-new-desalination-plant-deal-after-cost-review\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/acwa-power\/\">ACWA power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/institutional-investors\/\">Institutional Investors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/senegal\/\">Senegal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tadawul\/\">Tadawul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/water-desalination\/\">water desalination<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/west-africa\/\">West Africa<\/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=\"98872 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=\"98872\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/20\/98872\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98872\" class=\"content-area-description single-story post-98872 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:\/\/web.facebook.com\/HassanAllamProperties\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/371.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98873\" 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=\"98873\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/20\/project-awards-stumble-in-2q\/\">\r\n                            project awards drop 73% to USD 9.8 bn in 2Q 2025                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/20\/project-awards-stumble-in-2q\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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data-image-title=\"1658.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1658.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1658.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98873\" class=\"content-area-description single-story post-98873 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-construction tag-enterpriseam-ksa tag-gcc tag-housing tag-infrastructure tag-investment-watch tag-transport 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\/.760c8f94-a5c5-4600-8c9e-df62d75286de.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Kingdo<\/strong><strong>m saw a <\/strong><strong>s<\/strong><strong>teep drop in project activity in 2Q 2025<\/strong>, with the total value of awarded contracts falling 72.5% y-o-y to USD 9.8 bn, down from USD 35.6 bn, according to Kamco Invest\u2019s quarterly <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1181.pdf\" style=\"\" rel=\"noopener\">GCC Projects Market Update report (pdf)<\/a>. The Kingdom\u2019s share of total GCC project awards shrank to 34.5% during the second quarter, compared to 52.6% in 2Q 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By sector:<\/strong> The transport sector came on top with USD 3 bn in awarded contracts in 2Q, overtaking the construction sector, which dropped nearly 60% y-o-y to USD 2.3 bn. The water sector came in next at USD 2.5 bn, while the oil sector recorded no new contracts during the quarter, compared to USD 1.7 bn a year earlier.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite the slowdown, the Kingdom sealed some headline-grabbing contracts. <\/strong>The largest was a USD 2 bn reservation agreement with General Electric and GE Vernova, which includes <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/88fd6c8b-6f31-4fda-b63a-9453e42a3c2c\/acwa-power-plans-usd-10-bn-energy-push-in-malaysia#:~:text=GE%20Vernova%20tapped%20for%20Qurayyah%20turbines\" style=\"\" rel=\"noopener\">the supply of US-made gas turbines<\/a>, synchronous condensers, and power equipment for the Saudi Electricity Company, along with a maintenance collaboration with Aramco. On the residential front, a USD 378 mn contract in Al Khobar and a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/531b04a6-34f3-4340-922c-ef0c181ac961\/retal-signs-sar-493-mn-housing-contract-in-riyadh\" style=\"\" rel=\"noopener\">USD 131 mn<\/a> Sidra project contract in Riyadh kept the residential sector moving.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All eyes on 2H 2025: <\/strong>Kamco Invest expects the Kingdom to lead a regional rebound project activity, backed by the region\u2019s largest pre-execution pipeline \u2014 USD 873.2 bn or more than half the GCC\u2019s total. Key projects in the pipeline include the USD 80 bn Care nuclear reactor and a USD 10 bn battery energy storage system currently in design and FEED stages.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The regional picture: <\/strong>GCC-wide project awards dropped 58% y-o-y to USD 28.4 during the quarter \u2014 the lowest in over three years \u2014 with all countries posting declines except for Qatar. Across the GCC, the full pipeline of planned but unawarded projects currently stands at USD 1.7 tn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Contract awards in the Kingdom were also down 49.9% y-o-y at USD 17 bn <a target=\"_blank\" rel=\"noopener\">in<\/a><a target=\"_blank\" rel=\"noopener\">1Q 2025<\/a>, lowering the Kingdom\u2019s share of total GCC awards to 32.4%, compared to 47.4% a year earlier.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/construction\/\">Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/housing\/\">housing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/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\/transport\/\">transport<\/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=\"98875\" 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=\"98875\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/20\/maaden-taps-saulat-sultan-as-acting-cfo-to-succeed-louis-irvine\/\">\r\n                            Ma\u2019aden taps Saulat Sultan as acting CFO to succeed Louis Irvine                        <\/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\/20\/maaden-taps-saulat-sultan-as-acting-cfo-to-succeed-louis-irvine\/\" 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 transition in leadership takes effect on Friday, 8 August. Sultan brings over 20 years of experience in investment banking and corporate finance, having held executive roles at Saudi Aramco, SMBC, Credit Suisse, Moody\u2019s, and Shell.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-arabian-mining-company-maaden\/\">Saudi Arabian Mining Company (Ma\u2019aden)<\/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=\"98877 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=\"98877\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/20\/98877\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98877\" class=\"content-area-description single-story post-98877 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1942.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98878\" 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=\"98878\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/20\/bechtel-to-lead-expo-2030-build\/\">\r\n                            Bechtel appointed project manager for Riyadh's Expo 2030                        <\/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\/20\/bechtel-to-lead-expo-2030-build\/\" 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\/20\/bechtel-to-lead-expo-2030-build\/')\">\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\/20\/bechtel-to-lead-expo-2030-build\/\">\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=Bechtel to lead Expo 2030 build&url=https:\/\/enterpriseam.com\/ksa\/2025\/07\/20\/bechtel-to-lead-expo-2030-build\/\">\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\/20\/bechtel-to-lead-expo-2030-build\/&title=Bechtel to lead Expo 2030 build\">\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=Bechtel+to+lead+Expo+2030+build+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F07%2F20%2Fbechtel-to-lead-expo-2030-build%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\/20\/bechtel-to-lead-expo-2030-build\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1227.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98879\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/20\/bechtel-to-lead-expo-2030-build\/1227-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1227.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1227.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1227.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1227.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98878\" class=\"content-area-description single-story post-98878 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-2p tag-alkhabeer-capital tag-also-on-our-radar tag-arabia-ins-cooperative-aicc tag-construction tag-enterpriseam-ksa tag-expo-2030 tag-middle-east-specialized-cables-company-mesc tag-new-murabba tag-ovasave tag-public-investment-fund-pif tag-saudi-darb-investment tag-united-cooperative-assurance-uca 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\/.24b3bb1e-677e-4f2a-b35a-ac5151760638.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">GIGAPROJECTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- <\/strong><strong>US engineer<\/strong><strong>ing firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bechtel.com\/\" style=\"\" rel=\"noopener\">Bechtel<\/a><\/strong><strong> was appointed as Expo<\/strong><strong> 2030 <\/strong><strong>project manage<\/strong><strong>r<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.bechtel.com\/press-releases\/bechtel-selected-as-project-management-consultant-for-the-2030-world-expo-in-saudi-arabia\/\" style=\"\" rel=\"noopener\">statement<\/a>. The company will oversee infrastructure works across the 6 sq km site, including roads, utilities, and public spaces, as well as transforming the venue into a sustainable urban district.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A long history in the Kingdom:<\/strong> The company entered the Saudi market in 1943 to develop the Ras Tanura refinery, and it opened a <a target=\"_blank\" rel=\"noopener\">regional headquarters<\/a> in Riyadh in 2023. So far, it has delivered over 300 projects, including works at the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/94e4144e-9d4c-47f6-90ed-ea30e2350912\/canada-is-looking-to-rebuild-ties,-develop-a-great-relationship-with-saudi\" style=\"\" rel=\"noopener\">Riyadh Metro<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ed9ce5e3-ef5e-43b3-97cf-ab96fe38cdb7\/king-salman-airport-taps-parsons-for-infrastructure,%253cmark%253e-bechtel%253c%2Fmark%253e-for-terminal-delivery\" style=\"\" rel=\"noopener\">King Salman International Airport<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ed9ce5e3-ef5e-43b3-97cf-ab96fe38cdb7\/king-salman-airport-taps-parsons-for-infrastructure,%253cmark%253e-bechtel%253c%2Fmark%253e-for-terminal-delivery\" style=\"\" rel=\"noopener\"><\/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>PIF-owned <\/strong><strong><a target=\"_blank\" href=\"https:\/\/newmurabba.com\/en\/\" style=\"\" rel=\"noopener\">New<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/newmurabba.com\/en\/\" style=\"\" rel=\"noopener\">Murabba<\/a><\/strong><strong> inked an MoU with South Korean <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.heerim.com\/en\/index.php\" style=\"\" rel=\"noopener\">Heerim Architects & Planners<\/a><\/strong>, to collaborate in the design of architectural overlays for the 14 sq km mixed-use urban destination, with a focus on anchor assets, linear parks, and smart city features, it said in a <a target=\"_blank\" href=\"https:\/\/newmurabba.com\/en\/media\/new-murabba-partners-with-korea-heerim-on-architectural-design\/\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the first Korean to work with Murabba:<\/strong> After launching in February 2023, New Murabba signed several agreements to revamp Riyadh\u2019s downtown area, including greed to a three-year MoU with South Korean tech mogul <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a2154edf-82f9-464b-beb7-a9b0b4beca5f\/anti-dumping-duties-on-chinese-and-taiwanese-steel-pipes-take-effect\" style=\"\" rel=\"noopener\">Naver Cloud<\/a> to test and potentially introduce smart city technologies \u2014 spanning robotics, automation, self-driving systems, and digital construction tools.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UCA a<\/strong><strong>nd<\/strong><strong> AICC tap merger advisors: <\/strong>United Cooperative Assurance (UCA) appointed Estidamah Capital as its financial advisor to assist in ongoing plans for a merger with Arabia Ins. Cooperative (AICC), according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88837&anCat=1&cs=8190&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. On the other side of the desk, AICC tapped Albilad Capital to advise on the transaction, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88829&anCat=1&cs=8160&locale=en\" style=\"\" rel=\"noopener\">separate disclosure<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The ins. firms are exploring a potential merger under a non-binding MoU signed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0751d5c3-640f-4b97-89b3-ac5168bb8f70\/nama-offloads-40%2525-of-jana-to-faad.-plus:-uca-and-arabia-ins.-are-testing-waters-for-a-merger#:~:text=ALSO%2D%20UCA%20%2B%20AICC%20test%20waters%20for%20a%20merger%3A%20Ins.%20firms%20United\" style=\"\" rel=\"noopener\">in June<\/a>. The potential tie-up, which is pending due diligence and regulatory approvals, would see AICC absorb UCA via a capital hike and new share issuance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">STARTUP WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi investo<\/strong><strong>rs back Ovasave\u2019s USD 1.2 mn funding round:<\/strong> Abu Dhabi-based women\u2019s health tech startup <a target=\"_blank\" href=\"https:\/\/www.ovasave.com\/\" style=\"\" rel=\"noopener\">Ovasave<\/a> raised USD 1.2 mn in a pre-seed round led by PlusVC, Annex Investments, and 25 Madison and supported by Saudi and Emirati angel investors and family offices, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1178.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the funds are going: <\/strong>The fresh capital will support regional expansion, beginning with Saudi Arabia this summer and moving beyond in the following three years. Liquidity will also fuel the launch of new mobile app features, such as menstrual cycle tracking, symptom monitoring, access to care, and AI-driven treatment protocols.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Ovasave: <\/strong>Founded by Majd Abu Zant (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/majd-abu-zant-64028915\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) and Torkia Mahloul (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/torkia-m-0947aa37\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) in 2023, Ovasave provides digital fertility and hormonal health services, including at-home hormone testing, virtual consultations, supplement protocols, and a digitized egg freezing experience.<\/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\">DISPUTE WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Darb\u2019s c<\/strong><strong>ase against the board registered:<\/strong> The Securities Disputes Resolution Committee accepted and registered the lawsuit submitted by Saudi Darb Investment against former board members (2010-2013), according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88827&anCat=1&cs=4130&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The company is seeking SAR 100 mn in compensation from the directors, in addition to attorney fees.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Saudi Darb (<a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6074c881-c3e4-4992-ab96-2c82bb5c13b4\/wealth-funds-and-central-banks-are-shifting-gears-to-navigate-an-unpredictable-world\" style=\"\" rel=\"noopener\">formerly known as Al Baha Investment and Development<\/a>) filed a compensation claim with the Capital Market Authority and the Securities Disputes Resolution Committee <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9bca803f-9c4e-4704-8641-b246a3b933a5\/ardco-exits-tanal-jv,-transfers-69.4%2525-stake-to-sumou-holding\" style=\"\" rel=\"noopener\">in May<\/a> over a disputed asset sale that led to financial losses and a stock suspension for the company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Perfect Prese<\/strong><strong>ntation fo<\/strong><strong>r Commercial Services (2P) renewed and increased a SAR 330 mn <\/strong><strong>shariah-compliant loan from Riyad Bank<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88839&anCat=1&cs=7204&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The funding \u2014 backed by promissory notes and valid until 30 July 2026 \u2014 is earmarked to develop newly awarded projects.<\/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\"><strong>TRADE-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The GCC Cus<\/strong><strong>toms Union Authority sealed a contract with Qatar\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.malomatia.com\/\" style=\"\" rel=\"noopener\">Malomatia<\/a><\/strong><strong> to develop a <\/strong><strong>central platform to exchange customs data<\/strong>, aimed at improving customs data integration and boosting regional collaboration, the company said on <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/malomatia_%D9%81%D9%8A-%D8%AE%D8%B7%D9%88%D8%A9-%D8%A7%D8%B3%D8%AA%D8%B1%D8%A7%D8%AA%D9%8A%D8%AC%D9%8A%D8%A9-%D9%84%D8%AA%D8%B9%D8%B2%D9%8A%D8%B2-%D8%A7%D9%84%D8%AA%D9%83%D8%A7%D9%85%D9%84-%D8%A7%D9%84%D8%AC%D9%85%D8%B1%D9%83%D9%8A-activity-7351237913814142977-zkLl?utm_source=share&utm_medium=member_desktop&rcm=ACoAAFALq6UBUFUIwoCPjP2L1CebkHEInUx4NSQ\" style=\"\" rel=\"noopener\">LinkedIn<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/2p\/\">2P<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alkhabeer-capital\/\">Alkhabeer Capital<\/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\/arabia-ins-cooperative-aicc\/\">Arabia Ins. Cooperative (AICC)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/construction\/\">Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/expo-2030\/\">Expo 2030<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/middle-east-specialized-cables-company-mesc\/\">Middle East Specialized Cables Company (Mesc)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/new-murabba\/\">New Murabba<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ovasave\/\">Ovasave<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-darb-investment\/\">Saudi Darb Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/united-cooperative-assurance-uca\/\">United Cooperative Assurance (UCA)<\/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=\"98880\" 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=\"98880\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/20\/mena-fixed-income-rallies-while-equities-diverge-in-2q-2025-mashreq-capital\/\">\r\n                            MENA fixed income rallies, while equities diverge in 2Q 2025 -Mashreq Capital                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img 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<\/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\/20\/mena-fixed-income-rallies-while-equities-diverge-in-2q-2025-mashreq-capital\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/639.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98881\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/20\/mena-fixed-income-rallies-while-equities-diverge-in-2q-2025-mashreq-capital\/639-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/639.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"639.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/639.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/639.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98880\" class=\"content-area-description single-story post-98880 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-capital-markets tag-debt tag-enterpriseam-ksa tag-equities tag-mashreq tag-oil-and-gas tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.0ea0363f-07cd-4b01-b847-ecf501a84868.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>The second quarter of the year was a mixed bag for MENA markets. <\/strong>Bonds are holding steady on solid returns and sovereign supply, while equities are more uneven \u2014 dragged by oil in some markets and lifted by reform and demand in others, according to Mashreq Capital\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1165.pdf\" style=\"\" rel=\"noopener\">latest quarterly outlook (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(**<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MENA bonds delivered a solid return in 1H, shrugging off global volatility and re<\/strong><strong>gional flare-ups.<\/strong> The Bloomberg MENA USD Aggregate Bond Index climbed 4.4% during the first half of the year on the back of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d9fced27-c313-4423-80db-12b80decac8f\/mena-fixed-income-outperform-as-global-risks-loom\" style=\"\" rel=\"noopener\">2.6% rally in 1Q<\/a> and a 1.7% gain in 2Q. The index continued to offer a yield of 5.7%, some 60 bps above its five-year average, the report said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gulf sovereigns and government related entities (GREs) drove most o<\/strong><strong>f the returns<\/strong>, with sovereigns contributing 256 bps and GREs contributing 118 bps. Saudi Arabia (+160 bps), the UAE (+122 bps), and Egypt (+36 bps) led the way in the six months ending June, according to the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mashreq Capital\u2019s sovereign picks:<\/strong> The UAE and Qatar offer stability through low breakeven oil prices and diversified economies, supporting steady spreads and investor demand, Mashreq Capital said. Saudi remains fundamentally strong, though long-end bonds face pressure from supply, the report said. Oman benefits from fiscal consolidation and policy credibility, with potential for rating upgrades, while Morocco sees tightening spreads from reforms and discipline, and Egypt is supported by GCC aid, IMF backing, and improving external balances.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s \u201cpositive\u201d on<\/strong> <strong>Oman, Egypt, Morocco, and Turkey, and \u201cneutral\u201d on Saudi Arabia, <\/strong><strong>UAE, Qatar, Kuwait, and Jordan<\/strong>, as these markets offer stability but may face headwinds. Bahrain stands alone with a \u201cnegative\u201d view.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The take on corporate fixed income:<\/strong> Mashreq Capital remains overweight on select infrastructure-linked bonds in Saudi Arabia and the UAE, where strong sponsors, predictable cashflows, and sound structures offer compelling yield premiums over sovereign benchmarks, the report said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>G<\/strong><strong>CC AT1s and Tier 2s in particular offer attractive carry opportunities<\/strong>, supported by well-capitalized, often state-linked banks, the report said. On the other hand, Mashreq is cautious on Bahrain and Sharjah, where weakening credit fundamentals underscore the need for more attractive entry points, despite the assumption of broader Gulf support.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The region\u2019s bond supply is expected to reach USD 125 bn by year end<\/strong>, with around 62% already executed in 1H. Saudi Arabia alone accounted for 46% of issuance so far this year. Meanwhile, Kuwait is prepping a landmark USD 20 bn bond issuance, its largest ever, after passing a long-delayed debt law. The UAE is also expected to be a major contributor to 2H supply, with Sharjah and Ras Al Khaimah already active in 1H and further issuances expected at both the federal and emirate level, the report said.<\/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\">ON THE EQUITIES SIDE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bullish on Emirati, Qatari equities: <\/strong>Sustained oil price movements remain the dominant driver of fiscal dynamics across the region, with the UAE and Qatar best positioned in a low-price environment due to their diversified economies and low fiscal breakeven levels, while Saudi Arabia, Kuwait, and Oman exhibit higher sensitivity, the report said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mashreq Capital remains cautious on sectors tied to government spending<\/strong>, maintaining limited exposure where fiscal tightening could pose downside risk. Meanwhile, Dubai real estate remains resilient, with Emaar recording its strongest month in May, and despite slower rent growth, there are no signs of distress.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Key market signals ahead: Earnings, projects, and pressure points.<\/strong> The upcoming earnings season will be closely watched, especially in Saudi Arabia, where any further deceleration in earnings growth could weigh on overall market sentiment. Financials are expected to remain solid performers, supported by robust sector data from both Saudi and the UAE, while materials and cyclical names \u2014 particularly aluminium producers and copper miners \u2014 may deliver upside surprises. A slowdown in regional project awards has also emerged as a concern \u2014 if this trend persists, it could drag on earnings growth over the next 12\u201324 months. On the tourism front, geopolitical tensions pose a lingering risk to arrivals, though recent improvements suggest a more stable outlook. <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,007<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: -8.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,411<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: -6.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,295<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: -13.3%)<\/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>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\">33,821<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.0% (YTD: +13.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,262<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +8.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,094<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: +18.1%)<\/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>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\">6,297<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: +7.1%)<\/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>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\">8,992<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: +10.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,359<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: +9.5%)<\/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>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 69.28<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.57<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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 3,358<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-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>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 117,760<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: +25.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Sukuk\/bond market index<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">912.28<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: +1.1%)<\/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>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\">145.72<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: +4.1%)<\/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>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\">16.41<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: -5.4%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI <\/strong>fell 0.3% on Thursday on turnover of SAR 4.2 bn. The index is down 8.6% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Liva (+9.9%), Emaar EC (+5.2%) and Alistithmar Reit (+4.6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Teco (-6.5%), Alamar (-2.6%) and Alrajhi Takaful (-2.6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong> fell 0.2% on Thursday on turnover of SAR 22.3 mn. The index is down 13.3% 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> Purity (+9.8%), Lana (+7.9%) and Riyadh Steel (+6.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Naas Petrol (-11.8%), Horizon Food (-8.8%) and Aqaseem (-5.1%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mashreq\/\">Mashreq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98882\" 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\/20\/98882\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98882\" class=\"content-area-description single-story post-98882 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>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>20 July (Sunday): <\/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 style=\"\">5 August (Tuesday): Saudi Aramco to publish <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aramco.com\/en\/investors#:~:text=Saudi%20Aramco%20will%20publish%20its%20half%2Dyear%202025%20results%20on%20August%205%2C%202025.\" style=\"\">2Q 2025 earnings<\/a><\/span><span style=\"\">.<\/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 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>8-9<\/span><span style=\"font-weight:400;\"> November (Saturday-Sunday): Del Monte Superleague Supercup, Jeddah. <\/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>28-30 November (Friday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.f1h2o.com\/\" style=\"\">UIM F1H2O World Championship<\/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 style=\"font-weight:400;\">December: Made in Saudi 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;\">JANUARY<\/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>13-15 January (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futuremineralsforum.com\/\" style=\"\">Future Minerals Forum<\/a><\/span><span style=\"font-weight:400;\">, King Abdul Aziz International Conference Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 January (Tuesday): SuperReturn Saudi Arabia, Hotel Fairmont, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-21 January (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudihospitalbuild.com\/\" style=\"\">Saudi Hospital Design and Build 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>26-27 (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/gprcsummit.com\/riyadh\/\" style=\"\">GPRC 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>26-28 (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudifranchiseexpo.com\/register.php?gad_source=1&gad_campaignid=22793915983&gbraid=0AAAAA9h6tmyEONAToP6OR1QzERDhh-EXL&gclid=Cj0KCQjw-NfDBhDyARIsAD-ILeBBxf3POYPZ2rW6JYNH1FJChq0nt3g8cyk-v0HezqrKnPiQBoY6plcaAkdFEALw_wcB\" style=\"\">Saudi Franchise Expo (SFE)<\/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>26-28 (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.therff.com\/new\/index_en.php\" style=\"\">Real Estate Future Forum<\/a><\/span><span style=\"font-weight:400;\">, Four Seasons Hotel, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-28 (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.skymovemena.com\/\" style=\"\">SkyMove Air Cargo MENA<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28 (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/datacenternation.com\/dcn-riyadh-2026\/\" style=\"\">Data Center Nation Riyadh<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-30 (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.jttxsa.com\/\" style=\"\">Jeddah International Travel and Tourism Exhibition (JTTX)<\/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\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-4 (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudimf.sa\/en\" style=\"\">Saudi Media 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>2-4 (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ksawomenleaders.com\/\" style=\"\">Women Leaders Summit and Awards KSA<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-4 (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rlcglobalforum.com\/\" style=\"\">RLC Global Forum Annual Meeting<\/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>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>, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11 (Wednesday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/digitransformationsummit.com\/ksa\/register-now.html\" style=\"\">Digital Transformation Summit Saudi Arabia (DTS)<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-14 (Wednesday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/jeddaderm.zohobackstage.com\/JeddaDerm2025\" style=\"\">JeddaDerm<\/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>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 style=\"font-weight:700;\">MARCH<\/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>\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 style=\"font-weight:700;\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-29 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/rx-announces-the-launch-of-aluminium-arabia-in-riyadh-for-2026-y7qwfljt\" style=\"\">Aluminum Arabia<\/a><\/span><span>, The Arena, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">OCTOBER<\/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 2026:<\/span><\/p>\n<ul>\n<li><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><\/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 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\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>Acwa Power updates | Project awards drop in 2Q | Ma\u2019aden changes CFOs | Bechtel to lead Expo 2030 build.<\/p>\n","protected":false},"featured_media":98864,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-98863","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"45cade77-9be7-483c-8078-9f4a486223c9","teaser":"Acwa Power updates | Project awards drop in 2Q | Ma\u2019aden changes CFOs | Bechtel to lead Expo 2030 build.","photo_url":"https:\/\/ent.news\/2024\/9\/2194.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>Aramco\u2019s Jafurah gas project nears landing USD 10 bn infrastructure financing from BlackRock-led consortium - 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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