{"id":99257,"date":"2025-07-31T00:00:00","date_gmt":"2025-07-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=99257"},"modified":"2025-12-14T21:39:52","modified_gmt":"2025-12-14T21:39:52","slug":"indias-va-tech-wabag-lands-sar-1-bn-yanbu-desalination-plant-contract-plus-the-fed-holds-rates-steady","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/indias-va-tech-wabag-lands-sar-1-bn-yanbu-desalination-plant-contract-plus-the-fed-holds-rates-steady\/","title":{"rendered":"India\u2019s VA Tech Wabag lands SAR 1 bn Yanbu desalination plant contract. PLUS: The Fed holds rates steady"},"content":{"rendered":"<section id=\"99259\" 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=\"99259\">\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\/31\/hassana-investment-to-overhaul-senior-management\/\">\r\n                            THIS MORNING: Hassana Investment to overhaul senior management?                        <\/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\/31\/hassana-investment-to-overhaul-senior-management\/\" 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 Fed has decided to hold interest rates steady, defying Trump's constant pressure since he took office earlier this year. The decision saw a rare occurrence of dissent, however, signaling that Donald\u2019s influence on the independent institution holds some weight. We have the details in today\u2019s Planet Finance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the home front: <\/strong>It\u2019s a hot but calm summer morning in the Kingdom, with the big story featuring VA Tech Wabag\u2019s SAR 1 bn contract to build the Yanbu desalination plant. We also sat down for a coffee with Mostafa Gad, head of investment banking at EFG Holding, to break down what\u2019s behind the momentum behind Saudi\u2019s IPO market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>This week\u2019s My Morning Routine features Mohamed Milyani, founder and CEO of Nqoodlet. We discussed Milyani's unique management style, his Chief Happiness Officer\u2122, and Nqoodlet's financial operating system for Saudi SMEs.<\/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>The Ki<\/strong><strong>ngdom\u2019s statistics agency Gastat is set to r<\/strong><strong>elease 2Q 2025\u2019s GDP flash estimate <\/strong><strong>today<\/strong>, according to the authority\u2019s <a target=\"_blank\" href=\"https:\/\/www.stats.gov.sa\/en\/statistical-calendar-releases\" style=\"\" rel=\"noopener\">calendar<\/a>. Revised GDP growth <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/807cd9e9-2fb0-45ed-848f-44eecd3652c1\/%253cmark%253egdp%253c%2Fmark%253e-growth-revised-up-to-3.4%2525-in%253cmark%253e-1q%253c%2Fmark%253e-2025\" style=\"\" rel=\"noopener\">in 1Q<\/a> came in at 3.4% y-o-y, on the back of a 4.9% increase in non-oil activity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>E-invoicing<\/strong><strong> deadlines: <\/strong>Today is the last chance for companies with more than SAR 2.5 mn in revenues subject to VAT in 2022 or 2023 and those that had SAR 40 mn in revenues from goods and services in <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1403.aspx\" style=\"\" rel=\"noopener\">June and 2Q 2025<\/a> to integrate their e-invoicing solutions with <a target=\"_blank\" href=\"https:\/\/fatooraonline.com\/\" style=\"\" rel=\"noopener\">Fatoora<\/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>WEATHER- Riyadh<\/strong> will blaze under the desert sun tomorrow, with highs hitting 45\u00b0C before easing to 35\u00b0C after dark. <strong>Jeddah<\/strong>\u2019s coastal heat will peak at 41\u00b0C, slipping to a gentler 34\u00b0C later in the day. Over in <strong>Makkah<\/strong>, the mercury will climb to 42\u00b0C, then taper to 35\u00b0C by nightfall. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong> <strong>Retailers and<\/strong><strong> wholesalers selling non-food items in the Kingdom must comply<\/strong><strong> with the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/momah.gov.sa\/sites\/default\/files\/2025-04\/ashtratat%20mnafdh%20alby%60%20llmwad%20alghyr%20ghdhay%27yt.pdf\" style=\"\" rel=\"noopener\">updated licensing regulations<\/a><\/strong>, the Municipal and Rural Affairs Ministry said in a <a target=\"_blank\" href=\"https:\/\/x.com\/saudimomrah\/status\/1950209712114585798\" style=\"\" rel=\"noopener\">post on X<\/a>. The new rules apply to outlets selling products like clothing, perfumes, shoes, and stationery, setting minimum space requirements of 24 sqm for standard shops, 2 sqm for kiosks in malls or markets, and 10 sqm for kiosks on commercial or mixed-use land plots.<\/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>Cabinet approved the new Statistics Law<\/strong>, according to the General Authority for Statistics\u2019s <a target=\"_blank\" href=\"https:\/\/www.stats.gov.sa\/en\/w\/news\/70\" style=\"\" rel=\"noopener\">statement<\/a>. The law \u2014 replacing the General Statistics Law and the General Population Census Law \u2014 establishes a modern framework to improve the quality, transparency, and use of statistics across public and private sectors in line with international standards.<\/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> A shake up at the Kingdom\u2019s biggest pension fund? <\/strong>Hassana Investment Co. is set to overhaul its senior management team, <a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/07\/30\/2025\/saudis-320-billion-pension-fund-hassana-plans-management-overhaul\" style=\"\" rel=\"noopener\">Semafor<\/a> reports, citing sources it says are in the know. The fund tapped Hani Al Jehani as CEO to succeed Saad Al Fadly, who left earlier this month, with Al Jehani being considered for the permanent position among several other candidates, according to the sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other appointments and reshuffles are expected once a CEO is picked to make up for <\/strong><strong>several recent departures<\/strong>, including senior adviser Paul Sweeting, Chief Risk Officer Maram Alnumay, Chief Investment Officer for regional markets Ahmed Al Qahtani, and Head of Local Public Equity Ahmed Al Humaidan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More are leaving: <\/strong>Chief Strategy Officer Hamza Khushaim and general counsel Shaima Bakhsh are also expected to leave Hassana by the end of August, the sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hassana<\/strong> <strong>\u2014<\/strong> established in 2009 as the investment arm of the General Organization for Social Insurance \u2014 manages over USD 320 bn in assets. The fund has since then been tasked with helping to attract foreign managers to the kingdom to fuel economic diversification, according to Semafor.<\/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> <\/strong><strong>Arabian Drilling<\/strong><strong> is looking to<\/strong><strong> expand outside of the Kingdom to bypass long-term <\/strong><strong>offshore suspensions<\/strong>, CEO Ghassan Mirdad told Al Arabiya (<a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2025\/07\/29\/%D8%A7%D9%84%D8%AD%D9%81%D8%B1-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D9%88%D9%82%D9%81-%D8%A7%D9%84%D8%AA%D9%88%D8%B2%D9%8A%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D9%86%D9%82%D8%AF%D9%8A%D8%A9-%D9%85%D8%A4%D9%82%D8%AA-%D8%A7-%D9%84%D8%AF%D8%B9%D9%85-%D8%A7%D9%84%D8%B3%D9%8A%D9%88%D9%84%D8%A9-%D9%88%D8%A7%D9%84%D8%AA%D9%88%D8%B3%D8%B9\" style=\"\" rel=\"noopener\">watch, runtime: 8:08<\/a>). The company is adopting a two-pronged expansion approach, including direct contracts and an alliance with Shelf Company, which resulted in 8 to 10 additional tenders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> Two of Arabian Drilling\u2019s offshore platforms are currently suspended, but utilization could return to 100% if a new contract is signed in 2H 2025, Mirdad said. Suspended onshore rigs are expected to resume operations in Saudi Arabia before the end of 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Arabian Drilling saw its net income drop 65% y-o-y to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2c334e70-5052-4ba1-a2ef-3fff487ccdf8\/arabian-drilling,-united-carton,-and-mouwasat-medical-post-2q-earnings\" style=\"\" rel=\"noopener\">SAR 7 mn<\/a> in 2Q 2025. This came on the back of a decline in rig utilization to 79% from 91% in 2Q last year due to the suspension of several onshore and offshore rigs, along with increased finance expenses from higher debt. To preserve liquidity for its expansion, the company\u2019s board is pausing dividend payouts for the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Consumer spendi<\/strong><strong>ng via point-of-sale (PoS) transactions in the Kingdom fell 2.7% w-o-w <\/strong><strong>in the week ending 26 July, reaching nearly SAR 11.9 bn<\/strong>, according to the Saudi Central Bank\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1894.pdf\" style=\"\" rel=\"noopener\">weekly report (pdf)<\/a>. The number of weekly transactions also dropped 2.9% w-o-w to around 206.5 mn during the week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Food and beverages made up the bulk of consumers\u2019 spending during the week in terms of value, despite slightly dropping 1.8% w-o-w to around SAR 1.7 bn. Restaurants and caf\u00e9s came in second place, falling 2.4% w-o-w to over SAR 1.5 bn. This was followed by transportation, which dropped 2.2% w-o-w to nearly SAR 945.8 mn, and professional and business services, which declined 3.3% w-o-w to around SAR 931.2 mn. Gas stations spending, inched down 2.1% w-o-w to nearly SAR 886.4 mn, while healthcare shed 4.1% w-o-w to nearly SAR 837.2 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh had the highest value of PoS transactions at about SAR 4.1 bn<\/strong>, followed by Jeddah at around SAR 1.7 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>The Ind<\/strong><strong>ustry <\/strong><strong>and Mineral Resources Ministry issued 23 new mining licenses in June <\/strong><strong>2025<\/strong>, including 10 for exploration, six for building materials quarry, three for reconnaissance, two for exploitation, and two for surplus mineral ore, the ministry <a target=\"_blank\" href=\"https:\/\/x.com\/mimgov\/status\/1950478219704225814\" style=\"\" rel=\"noopener\">said on X<\/a> yesterday. The total active mining licenses in the Kingdom currently stand at a little over 2.4k.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Financing backed by the Enterprise Loan Guarantee Program (Kafalah) hit SAR 9 bn in <\/strong><strong>1H 2025, up<\/strong><strong> 8% y-o-y,<\/strong> according to Kafalah\u2019s <a target=\"_blank\" href=\"https:\/\/x.com\/Kafalah\/status\/1950560337444360587\" style=\"\" rel=\"noopener\">post on X<\/a>. A total of 3k SMEs benefited during the period, marking a 10% increase compared to the same time last year, with SAR 6.6 bn in guarantees issued, up 6% y-o-y.<\/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>Surj<\/strong><strong> join<\/strong><strong>s forces with <\/strong><strong>Leejam Sports<\/strong><strong>: <\/strong>Sports investor <a target=\"_blank\" href=\"https:\/\/surjsports.com\/\" style=\"\" rel=\"noopener\">Surj Sports Investment<\/a> and Fitness Time operator <a target=\"_blank\" href=\"https:\/\/leejam.com.sa\/\" style=\"\" rel=\"noopener\">Leejam Sports<\/a> signed an MoU that will see them collaborate on joint facility operations, co-investment in sports properties, community events, and technology and media integration, Surj said in a <a target=\"_blank\" href=\"https:\/\/surjsports.com\/surj-sports-investment-and-leejam-sports-sign-mou-to-drive-growth-across-saudis-sports-sector\/\" style=\"\" rel=\"noopener\">press release<\/a> yesterday.<\/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>Neom <\/strong><strong>SC <\/strong><strong>reportedly <\/strong><strong>reached an agreement with <\/strong><strong>AS Monaco to sign 19-year-old <\/strong><strong>Sa\u00efmon <\/strong><strong>Bouabr\u00e9 in a transfer worth EUR 10 mn plus EUR 2 mn in bonuses<\/strong>, sports reporter Frabrizio Romano <a target=\"_blank\" href=\"https:\/\/x.com\/FabrizioRomano\/status\/1950321285700976844\" style=\"\" rel=\"noopener\">said<\/a><a target=\"_blank\" href=\"https:\/\/x.com\/FabrizioRomano\/status\/1950321285700976844\" style=\"\" rel=\"noopener\">on X<\/a>. The transfer completion rests on the French player agreeing to personal contract terms with Neom.<\/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 and Hassan Allam Properties.<\/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>, and the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> industry?<\/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.<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><a id=\"wwtt3\"><\/a> The US\u2019 latest trade agreements ahead of tomorrow\u2019s deadline are still gettin<\/strong><strong>g top billing in the foreign press<\/strong>, along with a handful of Big Tech <strong>earnings<\/strong> and fresh <strong>sanctions on Iran<\/strong>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The US and South Korea reached a trade agreement<\/strong>, setting a 15% tariff on South Korean exports to the US, in exchange for USD 350 bn in investments in US-owned projects selected by US President Donald Trump, Trump said on Truth Social. This is in addition to USD 100 bn in energy investments in the US. This follows a similar structure to the agreement with the UK and Japan, which also pledged investments in exchange for lower tariffs. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/trump-says-us-will-set-15-tariff-south-korean-imports-under-new-deal-2025-07-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-30\/trump-says-he-will-levy-25-tariff-on-india-starting-aug-1?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/112b32db-9267-4d3e-8cb2-0245ea2815cc\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2025\/07\/30\/us-south-korea-trade-agreement-00485888\" style=\"\" rel=\"noopener\">Politico<\/a> | <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2025\/07\/30\/trump-tariffs-south-korea\" style=\"\" rel=\"noopener\">Axios<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not yet as lucky? India<\/strong>, which could face a 25% tariff on its exports to the US as of tomorrow if ongoing talks end with no agreement. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-30\/trump-says-he-will-levy-25-tariff-on-india-starting-aug-1?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/2025\/jul\/30\/trump-imposes-tariff-on-india-plus-penalty-over-ties-to-russia\" style=\"\" rel=\"noopener\">Guardian<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- The US economy rebounded in 2Q 2025<\/strong>, growing 3% after contracting in the first quarter of the year, on the back of strong consumer spending and a turnaround in the trade balance. (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/07\/30\/gdp-q2-2025-.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/economy\/us-gdp-q2-2025-359c022b?mod=hp_lead_pos2\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-30\/us-economy-rebounds-with-3-gdp-growth-after-trade-reversal\" style=\"\" rel=\"noopener\">Bloomberg<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Microsoft and Meta are both spending big on AI<\/strong>, after reporting strong quarterly earnings. Microsoft, which is set to become the second company to reach a market cap of USD 4 tn, is penciling in USD 30 bn in capital expenditures in its first quarter of its fiscal year, while Meta pledged to spend more from its advertising revenues well into 2026. Both companies\u2019 shares rose more than 9% in afterhours trading on the news. (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/07\/30\/metas-big-ai-spending-blitz-will-continue-into-2026-.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/83250c1a-18f0-47fb-9748-257e9c848aa1\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-30\/microsoft-set-to-hit-4-trillion-market-cap-after-earnings-beat?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/microsoft-spend-record-30-billion-this-quarter-ai-investments-pay-off-2025-07-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The US doubled down on its pressure campaign on Iran with sweeping new sanctions<\/strong> on 115-linked Iranian individuals and businesses, broadly targeting the shipping business of Hossein Shamkhani, the son of senior adviser to Supreme Leader Ayatollah Ali Khamenei. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-30\/us-hits-iran-oil-trading-network-in-sanctions-crackdown?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/americas\/us-hits-iranian-shipping-network-with-major-new-sanctions-2025-07-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p>\n<p><strong>#4- ALSO- Canada is now the latest to pledge recognition of the Palestinian state at September\u2019s UN summit<\/strong>, following in the footsteps of France and the UK. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-30\/canada-plans-to-recognize-palestinian-state-joining-france-uk?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>) <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hassana-investment\/\">Hassana Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99261\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15542.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99262\" 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=\"99262\">\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\">INFRASTRUCTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/indias-va-tech-wabag-lands-yanbu-desalination-plant-contract\/\">\r\n                            SWA awarded India\u2019s VA Tech Wabag SAR 1 bn contract to establish Yanbu desalination plant                        <\/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\/31\/indias-va-tech-wabag-lands-yanbu-desalination-plant-contract\/\" 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 reverse osmosis plant will be developed on a greenfield site, and will have a daily capacity of 300 mn liters upon completion.<\/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 authority tasked Wabag with all aspects of the project from the ground up, including design, engineering, supply, construction, and commissioning.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/96ca9b9c-66f0-4c55-ac6c-4c772750c74d\" style=\"\" rel=\"noopener\">Last December<\/a>, the SWA terminated its USD 317 mn (c. SAR 1.2 bn) EPCC contract for the project \u2014 which was signed earlier <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/316ef62e-6b70-44f8-8aa8-0ee9ca3d6e93\" style=\"\" rel=\"noopener\">in September<\/a> \u2014 with VA Tech Wabag, following the authority\u2019s \u201cinternal administrative procedures.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wabag is a major player in the Kingdom: <\/strong>The Indian firm landed a USD 371 mn (SAR 1.4 bn) EPC contract to design and establish the Al Haer sewage treatment plant in Riyadh in partnership with Mutlaq Al Ghowairi Contracting Company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/697ee648-3cdb-417f-97c8-5c1ffb260b51\" style=\"\" rel=\"noopener\">back in February<\/a>. The plant is expected to go online in December 2026, with a daily treatment capacity of 200k cubic meters. It will also feature a 32 km treated sewage effluent (TSE) system with a daily capacity of 400k cubic meters.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/desalination\/\">Desalination<\/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\/saudi-water-authority\/\">Saudi Water Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/va-tech-wabag\/\">VA Tech Wabag<\/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=\"99264\" 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=\"99264\">\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\/31\/going-back-to-fed-cuts-could-unlock-gcc-bond-rally-fuel-equity-gains\/\">\r\n                            Going back to Fed cuts could unlock GCC bond rally, fuel equity gains                        <\/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\/31\/going-back-to-fed-cuts-could-unlock-gcc-bond-rally-fuel-equity-gains\/\" 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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Lower yields and tighter credit spreads would lift fixed income returns and spur issuance from both sovereigns and high-grade corporates looking to lock in cheaper funding. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s all about the context:<\/strong> If the Fed chooses to resume its rate-cutting cycle due to a mild slowdown in economic growth in the US, the cuts would support regional equities through stronger liquidity without undermining oil prices, he said. On the flip side, cuts triggered by a sharp US recession would be less supportive, as weakening global demand would pressure oil prices and curb credit appetite.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mashreq expects the Fed to cut rates twice before year-end<\/strong>, in line with most analysts\u2019 expectations, followed by at least four more reductions in 2026. Shitole said this outlook reflects expectations of moderating US growth, the long-term deflationary effects of tariffs, and the emergence of a more dovish Fed leadership next year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Fed Chair Jerome Powell\u2019s run as chair ends in May 2026, and with the US President Donald Trump\u2019s administration recent frustrations with him and his objections to the slow pace of rate cutting, speculation over who will be his successor \u2014 with names like Treasury Secretary Scott Bessent in the ring \u2014 abound. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A best-case scenario would see the Fed\u2019s resumption of rate cuts drive high single-digit returns in GCC fixed income<\/strong>, supported by strong oil prices, tighter spreads, and robust investor demand, Shitole said. GCC equities would also benefit as lower borrowing costs stimulate credit demand. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The worst-case outcome would involve falling oil prices and a weaker USD eroding fiscal firepower, widening spreads, and dampening credit appetite<\/strong>, he noted. For GCC economies with currencies pegged to the USD, a weaker USD could also push up import prices, creating inflationary pressures. <\/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\">OUTLOOK INTO 2026 -<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mashreq remains constructive on MENA fixed income, <\/strong>expecting mid-to-high single-digit total returns with carry (yield c.5.7%, 60 bps above the five-year average) as the main driver amid tight valuations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Low default rates compared with emerging market peers also reinforce the region\u2019s appeal.<\/strong> Shitole pointed to Egypt, Oman, and Morocco as standouts on reform momentum and improving credit metrics, while Saudi bonds are favored in the belly and front end, with the UAE and Qatar offering defensive value.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On equities<\/strong>, Shitole sees structural reforms in Saudi Arabia, Oman, UAE, and Kuwait supporting investments and capital flows in energy, IT, real estate, and hospitality. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mashreq\/\">Mashreq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/us-federal-reserve\/\">US Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99266 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=\"99266\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/99266\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99266\" class=\"content-area-description single-story post-99266 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.facebook.com\/HassanAllamProperties?_rdc=1&amp;_rdr#\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1488.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99267\" 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=\"99267\">\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\">COFFEE WITH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/coffee-with-mostafa-gad-head-of-investment-banking-at-efg-hermes\/\">\r\n                            Coffee With: Mostafa Gad, head of investment banking at EFG Hermes                        <\/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\/31\/coffee-with-mostafa-gad-head-of-investment-banking-at-efg-hermes\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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      <a href=\"https:\/\/api.whatsapp.com\/send?text=Coffee+With%3A+Mostafa+Gad%2C+head+of+investment+banking+at+EFG+Hermes+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F07%2F31%2Fcoffee-with-mostafa-gad-head-of-investment-banking-at-efg-hermes%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\/31\/coffee-with-mostafa-gad-head-of-investment-banking-at-efg-hermes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1940.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99268\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/coffee-with-mostafa-gad-head-of-investment-banking-at-efg-hermes\/1940-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1940.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1940.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1940.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1940.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99267\" class=\"content-area-description single-story post-99267 post type-post status-publish format-standard has-post-thumbnail hentry category-coffee-with-3 tag-capital-markets 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\/.8ecb9edd-496f-4aaf-9c86-317589c28e1c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Understand<\/strong><strong>ing what\u2019s driving regional capital markets \u2014 and what signals we should <\/strong><strong>watch in the back half of the year:<\/strong> Saudi\u2019s IPO market made a strong showing in terms of volume and value in the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3bd63372-eb3c-4805-8122-d9d3722f7a71\/gulf-ipos-cool-in-1h,-and-saudi-arabia-keeps-the-crown\" style=\"\" rel=\"noopener\">first half of the year<\/a>, the EGX is outperforming its regional peers year-to-date, and the UAE is holding steady despite regional volatility and weaker oil prices. Altogether, it\u2019s been a strong year so far for regional capital markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We sat down with EFG Hermes' Head of Investment Banking Mostafa Gad to break <\/strong><strong>down what\u2019s behind the momentum<\/strong>, what foreign investors are looking for, and how to know we\u2019re on the right track for greater depth in capital markets. Gad also walked us through some of the stepping stones that helped the region\u2019s most active markets drive success. Below are edited excerpts from our conversation:<\/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>Gad sees equity capital markets (ECM) activity in the region as part of a multi-year trend <\/strong><strong>rather than just a 1H 2025 phenomenon.<\/strong> The current cycle, he says, has been running strong for the past three to four years, fueled by structural reforms across the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Saudi Arabia\u2019s main index is down over 9% YTD, while Dubai\u2019s benchmark rose 20%, and ADX is up more than 9%. EGX is up nearly 14% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fundamentals in the region are far stronger than many expect<\/strong>, according to Gad. Perceived risk is the biggest misconception foreign investors have about the region. Gad says the perception is far worse than the reality. From afar, the region might seem unstable \u2014 but their confidence in the region rises quickly once they actually visit and engage with the market directly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite a rocky geopolitical landscape, Gad is cautiously optimistic about the second<\/strong><strong> half of the year.<\/strong> Even with global headwinds such as the Trump administration\u2019s trade policies, Gad isn\u2019t too concerned about the impact of these developments on regional markets. In fact, he expects geopolitical tensions to ease, rather than intensify, in the near term. Markets have shown resilience, and if that holds, 2H could shape up nicely. Looking ahead, the pipeline for IPOs in the second half is expected to surpass that of the first half.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EFG Hermes has a packed calendar for the remainder of the year.<\/strong> The firm is preparing several issuances in Saudi, the UAE, and Kuwait. On the equity side, they\u2019ve already closed four transactions and aim to complete another three to five before year-end. M&amp;A and DCM pipelines are also very active.<\/p>\n<p class=\"tag-border-left\">THE LOCAL STORY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How Saudi became a success story:<\/strong> Reforms in the Kingdom kicked off six or seven years ago with a push to attract foreign investment and liberalize capital markets. While outsiders may still see the economy as government-heavy, Gad points out that the private sector is both deep and sophisticated, and authorities have been working to align with global standards to make the business environment familiar to foreign investors. The Kingdom\u2019s market is evolving toward international standards in both structure and execution, Gad said, adding that regulatory reforms played a key role in making the market more accessible and investor-friendly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s particularly notable is the diversity the Saudi market now offers<\/strong>, Gad said, explaining that investors can tap into a wide range of sectors, from energy and infrastructure to healthcare and consumer goods. Each company brings a different story, management style, and growth potential, making the market both deep and dynamic.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Now the results speak for themselves: <\/strong>The Saudi market has been averaging around 20 listings per year \u2014 figures that were virtually unheard of in the past, he said. Many of these offerings have been substantial in size, reflecting growing investor confidence and interest, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil prices are worth watching \u2014 but not a red flag right now: <\/strong>With prices hovering in the USD 68\u201370 range, the kingdom still has ample room to maneuver. Crucially, the government retains the flexibility to scale back or delay megaprojects if needed \u2014 and that kind of control helps maintain market confidence and keeps fiscal risks in check, Gad noted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gad attributed muted debuts on Tadawul to stretched valuations<\/strong>, saying that a correction may actually be a healthy development. This correction is viewed positively as a breather that allows for a reset toward more normalized valuation multiples. It also helps in creating more sustainable market capitalizations for listed companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market correction is seen as a healthy reset for Tadawul.<\/strong> The market being down YTD \u2014 but not in bear territory \u2014 appears to be driven by multiple factors. One of the key contributors is the drop in oil prices, along with the market coming off what were likely all-time high valuations for nearly every stock, Gad noted. The correction sets the stage for a new wave of growth in the Saudi market once the current cycle runs its course. That rebound could happen later this year or in 2026, but confidence remains strong that it is on the horizon, Gad told us. When it does arrive, the market will be building from a more solid foundation, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Think of this as a pit stop in Formula 1<\/strong> \u2014 it\u2019s like the market is changing its tires to come back even faster and stronger in the next laps.<\/p>\n<p class=\"tag-border-left\">ELSEWHERE IN THE REGION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s holding back the IPO pipeline in the UAE compared to regional peers? <\/strong>Saudi Arabia simply has a larger and more developed private sector than the UAE, according to Gad. Even without the big government listings, there are more companies ready to go public in Saudi. The UAE\u2019s private sector, while dynamic, is smaller, hence fewer IPO candidates.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Authorities in the UAE understood that to build a vibrant and liquid equity market, they needed<\/strong><strong> to list successful state-owned enterprises.<\/strong> Landmark IPOs such as DEWA and Salik helped attract investor attention, injected liquidity, and laid the groundwork for increased private-sector participation down the line.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Diversification is a key driver of resilience on the DFM: <\/strong>The exchange has shown resilience in its YTD performance largely because the market has somewhat decoupled from oil prices, thanks to its diversified economic drivers, Gad said. People have historically seen a strong correlation between real estate and oil prices. But that relationship seems to have been tested again this year, and it\u2019s not holding up the way it used to. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And over in Egypt, the EGX is still lagging on listings \u2014 mostly thanks to a lack of deep domestic institutional<\/strong><strong> capital.<\/strong> Big IPOs typically require foreign participation, and that had been on pause due to FX uncertainty and repatriation concerns. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What foreign investors want from Egypt: \u201cGrowth, plain and simple.\u201d<\/strong> To attract foreign interest, Egyptian companies need to show robust growth, particularly in an inflationary environment, he explained, adding that with interest rates above 20%, dividend yields alone won\u2019t cut it. Why invest in a stock when you can get a 20% zero-risk return? Gad says foreign investors are now looking for high-growth businesses with strong fundamentals and the resilience to withstand currency shocks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could Egypt see more listings this year? Possibly, but don\u2019t hold your breath.<\/strong> It will likely take another 6-12 months before the EGX sees larger offerings again. Investor confidence is building, but it takes time to translate that into action.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99269 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"99269\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/99269\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99269\" class=\"content-area-description single-story post-99269 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1942.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99270\" 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=\"99270\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/more-2q-earnings-trickle-in\/\">\r\n                            Americana, Nahdi Medical, Al Rajhi Takaful are out with earnings                        <\/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\/31\/more-2q-earnings-trickle-in\/\" 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 growth came on the back of an increase in like-for-like sales, strategic expansion, product innovation, and continued cost discipline. The company maintained last year\u2019s net income margin of 7.6% despite some USD 8.2 mn in new taxes in its main markets in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The firm expanded its footprint by opening 36 new stores and integrating 46 Pizza Hut <\/strong><strong>outlets in Oman<\/strong>, bringing the company\u2019s total store count to 2.6k locations across 12 countries. Americana also signed an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ded507ec-06a4-4854-ad6c-34341a6492dd\/elevate,-ennismore-plan-usd-500-mn-residential-project-on-al-marjan-island\" style=\"\" rel=\"noopener\">exclusive franchise agreement<\/a> with Greek food and beverage brand carpo earlier this month with rights in Kuwait and Qatar, and further expansion planned in Bahrain and Saudi Arabia. It is also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0881fedb-7dfa-4e83-a919-7578251a1619\/this-morning:-uae-reopens-airspace-%2B-trump-says-iran-and-israel-agree-to-a-ceasefire\" style=\"\" rel=\"noopener\">in talks to buy a stake<\/a> in Dubai-based Cravia, the MENA operator of Five Guys, Cinnabon, and Zaatar w Zeit. <\/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\">NAHDI MEDICAL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/nahdi.sa\/\" style=\"\" rel=\"noopener\">Nahdi M<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/nahdi.sa\/\" style=\"\" rel=\"noopener\">e<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/nahdi.sa\/\" style=\"\" rel=\"noopener\">dical<\/a><\/strong><strong>\u2019s net income dropped 3.8% y-o-y to SAR 238.4 mn in 2Q 2025<\/strong>, as a result of a lower operating income and a slight increase in expenses, it said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1890.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a> yesterday. Meanwhile, revenue inched up 2.2% y-o-y to SAR 2.5 bn in the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 1H basis<\/strong>, the company\u2019s bottom line climbed 2.7% y-o-y to SAR 493.6 mn, while its top line grew 9.1% y-o-y to SAR 5.2 bn. This came due to a robust performance in the retail segment and continued growth momentum in the healthcare segment and the UAE business.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> Nahdi Medical\u2019s board greenlit the distribution of SAR 338 mn in dividends for 1H 2025 at SAR 2.6 a piece, it said in a separate <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=89099&anCat=1&cs=4164&locale=en\" style=\"\" rel=\"noopener\">Tadawul disclosure<\/a>. The distribution will take place on 26 August.<\/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\">AL RAJHI TAKAFUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.alrajhitakaful.com\/en\" style=\"\" rel=\"noopener\">Al Rajhi Compan<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alrajhitakaful.com\/en\" style=\"\" rel=\"noopener\">y for Co<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alrajhitakaful.com\/en\" style=\"\" rel=\"noopener\">operative Ins.<\/a><\/strong><strong> (Al Rajhi Takaful) saw its net income increase <\/strong><strong>24.3% y-o-y to SAR 111.6 mn in 2Q 2025<\/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=89106&anCat=1&cs=8230&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The growth came on the back of a 161.2% increase in ins. services despite a 38.8% decrease in net investment income. Meanwhile, revenue rose 2.8% y-o-y to SAR 1.4 bn during the quarter, driven by higher business volumes in protection, savings, and medical ins.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 1H basis<\/strong>, the firm\u2019s net income inched up 0.6% y-o-y to SAR 202.4 mn, while its revenue slipped 2.3% y-o-y to SAR 2.6 bn.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-rajhi-takaful\/\">Al-Rajhi Takaful<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/americana-restaurants\/\">Americana Restaurants<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/dividends\/\">dividends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nahdi-medical\/\">Nahdi Medical<\/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=\"99272\" 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=\"99272\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/amana-cooperative-ins-names-rachid-abi-nader-as-ceo\/\">\r\n                            Amana Cooperative Ins. names Rachid Abi Nader as CEO                        <\/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\/31\/amana-cooperative-ins-names-rachid-abi-nader-as-ceo\/\" 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\/31\/amana-cooperative-ins-names-rachid-abi-nader-as-ceo\/')\">\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\/31\/amana-cooperative-ins-names-rachid-abi-nader-as-ceo\/\">\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=Amana Cooperative Ins. names Rachid Abi Nader as CEO&url=https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/amana-cooperative-ins-names-rachid-abi-nader-as-ceo\/\">\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\/31\/amana-cooperative-ins-names-rachid-abi-nader-as-ceo\/&title=Amana Cooperative Ins. names Rachid Abi Nader as CEO\">\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=Amana+Cooperative+Ins.+names+Rachid+Abi+Nader+as+CEO+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F07%2F31%2Famana-cooperative-ins-names-rachid-abi-nader-as-ceo%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\/31\/amana-cooperative-ins-names-rachid-abi-nader-as-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/940.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99273\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/amana-cooperative-ins-names-rachid-abi-nader-as-ceo\/940-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/940.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"940.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/940.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/940.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99272\" class=\"content-area-description single-story post-99272 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-amana-cooperative-ins-company tag-enterpriseam-ksa tag-moves 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\/.d5b47429-a532-41d8-b596-1a1a173a6b07.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.amana.sa\/\" style=\"\" rel=\"noopener\">Amana Co<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.amana.sa\/\" style=\"\" rel=\"noopener\">operative Ins.<\/a><\/strong> <strong> appointed <\/strong><strong>Rachid Abi Nader<\/strong><strong> as CEO<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=89078&anCat=1&cs=8310&locale=en\" style=\"\" rel=\"noopener\">disclosure to<\/a><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=89078&anCat=1&cs=8310&locale=en\" style=\"\" rel=\"noopener\">Tadawul<\/a>. Abi Nader brings more than 25 years of experience in the ins. industry, spanning strategic development, risk management, digital business, and corporate transformation across the Middle East, Europe, and the US. He previously held senior roles at The Risk Management Group, PwC Middle East, and Booz & Company (now known as Strategy&).<\/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\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\/amana-cooperative-ins-company\/\">Amana Cooperative Ins. Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/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=\"99274\" 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=\"99274\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/moving-away-from-oil-can-be-tricky-for-the-kingdom\/\">\r\n                            Diversification spending drives need for higher oil revenues -Bloomberg                        <\/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\/31\/moving-away-from-oil-can-be-tricky-for-the-kingdom\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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Kingdom&url=https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/moving-away-from-oil-can-be-tricky-for-the-kingdom\/\">\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\/31\/moving-away-from-oil-can-be-tricky-for-the-kingdom\/&title=Moving away from oil can be tricky for the Kingdom\">\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=Moving+away+from+oil+can+be+tricky+for+the+Kingdom+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F07%2F31%2Fmoving-away-from-oil-can-be-tricky-for-the-kingdom%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\/31\/moving-away-from-oil-can-be-tricky-for-the-kingdom\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/464.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99275\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/moving-away-from-oil-can-be-tricky-for-the-kingdom\/464-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/464.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"464.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/464.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/464.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99274\" class=\"content-area-description single-story post-99274 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-enterpriseam-ksa tag-oil-gas tag-saudi-in-the-news tag-vision-2030 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\/.49aa996d-f29b-4634-bfb3-025f222dfca7.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>The Kingdo<\/strong><strong>m\u2019s <\/strong><strong>efforts to diversify its economy away from oil are yet again on the minds <\/strong><strong>of the foreign <\/strong><strong>press<\/strong>, with <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-30\/saudi-arabia-and-mbs-are-far-from-breaking-their-reliance-on-oil\" style=\"\" rel=\"noopener\">Bloomberg<\/a> arguing that despite significant social and economic reforms under Vision 2030, Saudi Arabia\u2019s economy remains dependent on oil revenue and, by some measures, its reliance has even deepened.<\/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 business news service estimates that the fiscal breakeven oil price has risen to USD <\/strong><strong>96 a barrel in <\/strong><strong>2025<\/strong>, from USD 91 in 2016. The figure rised to USD 113 a barrel when PIF spending is factored in. With oil still constituting 60% of state revenue and over 65% of exports, this has spurred increased government borrowing to sustain the diversification agenda and mitigate the increasing fiscal deficit, which has run for the past eight quarters.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still, diversification was fruitful in mant aspects.<\/strong> The non-oil economy now exceeds half of the Kingdom\u2019s GDP and non-oil revenues reached USD 134 bn in 2024, compared to USD 50 bn in 2016. The Kingdom has also witnessed a boom in tourism, mns more women joining the workforce, and growth in new industries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Turbulence<\/strong><strong> can be a sign of economic transformation:<\/strong> \u201cRecent spending increases reflect capex for Vision 2030 projects in their early stages \u2014 a temporary phase, not a long-term trend,\u201d a Finance Ministry spokesperson told Bloomberg, adding that \u201cas these transformative initiatives reach full operational capacity, they will generate returns and contribute to the fiscal position and the economy.\u201d<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil-gas\/\">Oil &amp; gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/vision-2030\/\">Vision 2030<\/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=\"99276\" 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=\"99276\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/sinad-holding-to-anchor-dar-al-majeds-ipo-with-6-7-mn-share-subscription\/\">\r\n                            Dar Al Majed's IPO lands Sinad Holding as a cornerstone investor with 2.2% stake deal                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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\/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99276\" class=\"content-area-description single-story post-99276 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-air-france-klm tag-also-on-our-radar tag-aviation tag-bank-albilad tag-dar-al-majed tag-enterpriseam-ksa tag-expansion tag-infrastructure tag-ipo tag-ipo-watch tag-keeta tag-logistics tag-national-water-company tag-national-water-company-nwc tag-real-estate tag-riyadh-air tag-saudi-ports-authority-mawani tag-saudi-real-estate-refinance-src tag-sinad-holding tag-tadawul wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.ab3afccd-448a-4d44-8da4-9d94f8b27aac.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\">IPO WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong><a target=\"_blank\" href=\"https:\/\/sinadholding.com\/\" style=\"\" rel=\"noopener\">Sinad Holding<\/a><\/strong> <strong> will subscribe to about 6.7 mn shares as a cornerstone investor in Dar Al <\/strong><strong>Majed Real Estate\u2019s IPO<\/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=89092&anCat=1&cs=4080&locale=en\" style=\"\" rel=\"noopener\">Tadawul disclosure<\/a> yesterday. Sinad will hold 2.2% of Al Majed\u2019s capital under the binding agreement, following approvals from its shareholders and Al Majed\u2019s board. The move is part of Sinad\u2019s investment portfolio diversification strategy to optimize its shareholders' returns.<\/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>IN CONTEXT- <\/strong>Dar Al Majed took <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a0f02f95-a0f4-4623-9e6d-8f4936e13fbf\" style=\"\" rel=\"noopener\">a 30% stake<\/a> to Tadawul\u2019s main market in a secondary offering of 90 mn existing shares, which saw its institutional tranche fully booked within minutes of opening <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/724c6b5a-8f86-454f-9a28-37fca3de4fec\" style=\"\" rel=\"noopener\">on Tuesday<\/a>, setting the offer price within the SAR 13.5-14 range per share. At the top of the range, the share sale could see the property developer raise up to SAR 1.26 bn in proceeds, implying a market cap of SAR 4.2 bn at listing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EXPANSION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chinese <\/strong><strong>on<\/strong><strong>-demand food delivery platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.keeta-global.com\/SA\/en\" style=\"\" rel=\"noopener\">Keeta<\/a><\/strong><strong> added 11 new cities to its Saudi <\/strong><strong>footprint<\/strong>, expanding its nationwide reach to 20 cities, it said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7356203211847860224\/\" style=\"\" rel=\"noopener\">LinkedIn statement<\/a> yesterday. The new hubs are in Hail, Tabuk, Abha, Khamis Mushait, Jazan, Najran, Al Jubail, Buraydah, Hafar Al Batin, Yanbu, and Taif. Keeta made <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2a20618e-f655-420c-8044-262eda070787\" style=\"\" rel=\"noopener\">its debut<\/a> in Saudi Arabia in September 2024 with its Al Kharj launch.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/srco.com.sa\/en\" style=\"\" rel=\"noopener\">The Saudi Re<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/srco.com.sa\/en\" style=\"\" rel=\"noopener\">al Estate Refinance Company<\/a><\/strong><strong> (SRC) signed an agreement with Bank<\/strong><strong> Albilad <\/strong><strong>to buy a mortgage portfolio<\/strong>, it <a target=\"_blank\" href=\"https:\/\/x.com\/SaudiRefinance\/status\/1949881266150453291\/photo\/1\" style=\"\" rel=\"noopener\">said on X<\/a> on Monday. The agreement will help SRC expand its funding capacity and support future plans to package and sell home loans to investors. The value of the agreement was not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> SRC, the real estate finance arm of the Public Investment Fund, acquired a SAR 3.4 bn real estate financing portfolio from the Saudi National Bank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bed4623c-1a52-45b4-b17a-c24c07a8b342\/snb-offloads-sar-3.4-bn-mortgage-portfolio-to%253cmark%253e-saudi%253c%2Fmark%253e%253cmark%253e-real%253c%2Fmark%253e%253cmark%253e-estate%253c%2Fmark%253e%253cmark%253e-refinance%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">back in March<\/a> as part of the Kingdom\u2019s efforts to modernize and expand its real estate finance sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi P<\/strong><strong>orts Authority (Mawani) added Wan Hai Lines\u2019 AR2 Asia Redsea <\/strong><strong>shipping <\/strong><strong>service to Jeddah Islamic Port<\/strong>, linking it to 10 regional and global ports, it said in a <a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=290725&language=en\" style=\"\" rel=\"noopener\">statement<\/a> on Tuesday. The new service \u2014 with a capacity of 3.7k TEUs \u2014 will connect Jeddah with the ports of Shanghai, Ningbo, Nansha, and Shekou in China, Klang in Malaysia, Aqaba in Jordan, Sokhna and Alexandria in Egypt, and Izmit and Kumport in Turkey.<\/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\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh Air <\/strong><strong>p<\/strong><strong>artners with an Air France-KLM subsidiary to maintain its Boeing <\/strong><strong>Dreamliners:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.epcor.com\/us\/en.html\" style=\"\" rel=\"noopener\">EPCOR<\/a>, a subsidiary of Air France Industries KLM Engineering & Maintenance, will look after <a target=\"_blank\" href=\"https:\/\/www.riyadhair.com\/en\/home\" style=\"\" rel=\"noopener\">Riyadh Air<\/a> \u2019s APS5000 auxiliary units powering the Boeing 787 Dreamliner fleet under a long-term maintenance, repair, and overhaul agreement it signed with the PIF-owned airline, according to a <a target=\"_blank\" href=\"https:\/\/www.afiklmem.com\/en\/press-release\/30072025_epcor-and-riyadh-air-sign-strategic-long-term-agreement-for-aps5000-support\" style=\"\" rel=\"noopener\">press release<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/air-france-klm\/\">Air France KLM<\/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\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/bank-albilad\/\">Bank Albilad<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/dar-al-majed\/\">Dar Al Majed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/expansion\/\">Expansion<\/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\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/keeta\/\">Keeta<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-water-company\/\">National Water Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-water-company-nwc\/\">National Water Company (NWC)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n 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                          <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tadawul\/\">Tadawul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99278\" 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=\"99278\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/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\/31\/the-fed-holds-rates-steady-defying-trumps-pressure\/\">\r\n                            The Fed keeps rates steady at 4.25-4.50%, despite a rare dissent                        <\/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\/31\/the-fed-holds-rates-steady-defying-trumps-pressure\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n       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href=\"https:\/\/api.whatsapp.com\/send?text=The+Fed+holds+rates+steady%2C+defying+Trump%27s+pressure+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F07%2F31%2Fthe-fed-holds-rates-steady-defying-trumps-pressure%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\/31\/the-fed-holds-rates-steady-defying-trumps-pressure\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/580.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99279\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/the-fed-holds-rates-steady-defying-trumps-pressure\/580-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/580.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"580.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/580.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/580.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99278\" class=\"content-area-description single-story post-99278 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-economy tag-enterpriseam-ksa tag-financial-markets tag-inflation tag-planet-finance tag-us-federal-reserve wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.36035506-103d-47c4-bf86-187bcd021b50.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> T<\/strong><strong>he Federal Reserve decided to hold its benchmark rate steady at <\/strong><strong>4.25-4.50%<\/strong>, marking a fifth consecutive meeting with no change, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1943.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Wobbling net exports did not hinder the Fed\u2019s decision, which left no hint on possible future rate cuts \u2014 at least until the trajectory of the Fed\u2019s dual mandates, jobs and inflation, are clearer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> Despite a low unemployment rate at 4.1%, a solid labor market, and moderate economic growth, inflation remained high in 1H this year, adding to the uncertainty of the economic prospect. Data provided limited justification to deviate from the cautious \u201cwait-and-see\u201d policy, which the Fed adopted since Trump took office.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\"You have to think of this as still quite early days<\/strong>. There's quite a lot of data coming in before the next meeting. Will it be dispositive? [...] It is really hard to say.\" Chair Jerome Powell said in a press conference. Investors seem to have taken Powell\u2019s comments as a signal that rate cuts will wait a little bit more, reducing the probability of a rate cut in September to less than 50%, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/fed-leaves-rates-steady-despite-trump-pressure-gives-no-hint-september-cut-2025-07-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Patience over haste: <\/strong>\u201cWe believe that the current stance of monetary policy leaves us well positioned to respond in a timely way to potential economic developments,\u201d Powell said in June. Powell noted that trade policy uncertainty \u2014 especially around tariffs \u2014 continues to cloud the outlook and could fuel inflationary pressures if sustained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not all governors were on board<\/strong>: Yesterday\u2019s meeting saw a rare dissent against the tight monetary policy from two governors \u2014 both appointed by President Trump. Vice Chair for Supervision Michelle Bowman and Christopher Waller \u2014 who are potential nominees to succeed Powell next May \u2014 were in favor of lowering the interest rates by 0.25 percentage points, according to the newswire.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The last time a Fed\u2019s meeting saw an objection from two of its governors was over 30 <\/strong><strong>years ago<\/strong>, reigniting fears of Trump\u2019s public pressure affecting the work of the independent institution. Trump has been vocal in attacking Powell at every turn, demanding interest rate cuts and mounting a campaign against the Fed for alleged corruption and spending bns on renovations.<\/p>\n<p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are trading mixed this morning<\/strong>, after the US cemented a 15% blanket tariff on South Korea. Hong Kong\u2019s Hang Seng is down 1.4% and the Shanghai Composite is down 0.8%, while Japan\u2019s Nikkei is going in the opposite direction with an 0.9% increase. Meanwhile, Wall Street futures are rising on positive earnings from Meta and Microsoft.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,914<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: -9.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,407<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: -6.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,809<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: -14.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.0% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">33,860<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: +13.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">10,353<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +9.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,208<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +20.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6,363<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +8.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,137<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: +11.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,393<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: +10.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 73.51<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3.02<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3,337<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 118,416<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +26.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Sukuk\/bond market index<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">912.34<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P MENA Bond & Sukuk<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">146.79<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: +4.9%)<\/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>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\">15.48<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.1% (YTD: -10.8%)<\/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>rose 0.8% yesterday on turnover of SAR 4.3 bn. The index is down 9.3% 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> Thimar (+10.0%), Acwa Power (+5.9%) and HB (+4.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Sport Clubs (-7.2%), Nahdi (-5.5%) and Baan (-4.0%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong> rose 0.3% yesterday on turnover of SAR 26 mn. The index is down 14.8% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Group Five (+14.9%), Molan (+14.2%) and Future Vision (+9.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> FAD (-6.7%), Albattal Factory (-4.1%) and Alashghal Almoysra (-4.0%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/leejam.com.sa\/\" style=\"\" rel=\"noopener\">Leejam Sp<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/leejam.com.sa\/\" style=\"\" rel=\"noopener\">orts<\/a><\/strong><strong> will distribute some SAR 43.9 mn in dividends for 2Q 2025 at SAR 0.84 <\/strong><strong>apiece<\/strong>, starting 14 August, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=89098&anCat=1&cs=1830&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/inflation\/\">Inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/us-federal-reserve\/\">US Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99280\" 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=\"99280\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/the-kingdom-signs-three-mous-with-palestine\/\">\r\n                            The Kingdom signs three MoUs with Palestine                        <\/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\/31\/the-kingdom-signs-three-mous-with-palestine\/\" 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\/31\/the-kingdom-signs-three-mous-with-palestine\/')\">\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\/31\/the-kingdom-signs-three-mous-with-palestine\/\">\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=The Kingdom signs three MoUs with Palestine&url=https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/the-kingdom-signs-three-mous-with-palestine\/\">\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\/31\/the-kingdom-signs-three-mous-with-palestine\/&title=The Kingdom signs three MoUs with Palestine\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Kingdom+signs+three+MoUs+with+Palestine+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F07%2F31%2Fthe-kingdom-signs-three-mous-with-palestine%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\/31\/the-kingdom-signs-three-mous-with-palestine\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1915.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99281\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/the-kingdom-signs-three-mous-with-palestine\/1915-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1915.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1915.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1915.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1915.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99280\" class=\"content-area-description single-story post-99280 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-enterpriseam-ksa tag-france tag-palestine tag-un tag-united-nations 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\/.a304c00a-c9f9-4fc9-ba7e-5ddfa7df87bb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arab<\/strong><strong>i<\/strong><strong>a has signed three MoUs to provide support for HR development, education, <\/strong><strong>and telecoms in the Palestinian territories<\/strong>, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2369802\" style=\"\" rel=\"noopener\">SPA<\/a> reported yesterday. This took place on the sidelines of the Saudi-French UN ministerial conference in New York, during which Saudi Foreign Minister Faisal bin Farhan met with Palestinian Prime Minister Mohammad Mustafa to discuss bilateral relations and developments in Palestine.<\/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 MoUs breakdown:<\/strong><\/p>\n<ul>\n<li><strong>A human resources MoU<\/strong> was signed between the Saudi Human Resources and Social Development Ministry and the Palestinian General Personnel Council to develop Palestinian human capital.<\/li>\n<li><strong>An education MoU <\/strong>was signed between the Saudi Education Ministry and the Palestinian Education and Higher Education Ministry to level up curriculum development.<\/li>\n<li><strong>An MoU in telecommunication and information technology <\/strong>was signed between the Saudi MCIT Ministry and the Palestinian Communications and Digital Economy Ministry to collaborate on digital transformation and ICT.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The Kingdom and France co-hosted a UN ministerial conference in New York <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8694f5da-21ea-425b-a07a-09dde1fc2a0a\" style=\"\" rel=\"noopener\">on<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8694f5da-21ea-425b-a07a-09dde1fc2a0a\" style=\"\" rel=\"noopener\">Monday<\/a> to rally international support for a two-state solution to the Israeli-Palestinian conflict. The meeting \u2014 backed by 125 countries, including 50 ministries \u2014 aimed to map out steps toward the creation of a Palestinian state and a long-term resolution to the conflict, despite the absence of Israel and the US.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/palestine\/\">Palestine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/united-nations\/\">United Nations<\/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=\"99282\" 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=\"99282\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">My morning routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/31\/my-morning-routine-mohamed-milyani-founder-and-ceo-of-nqoodlet\/\">\r\n                            My Morning Routine: Mohamed Milyani, founder and CEO of Nqoodlet                        <\/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\/31\/my-morning-routine-mohamed-milyani-founder-and-ceo-of-nqoodlet\/\" 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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Speaking to us this week is the founder and CEO of Nqoodlet Mohamed Milyani (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/milyani\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">LinkedIn<\/a>). Edited excerpts from our conversation:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I am Mohamed Milyani.<\/strong> I started my career around 1999 amid the first wave of the internet as a freelancer. Around 2006 or 2007, I pivoted to become an authorized Apple trainer while also serving as a sales trainer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In 2013, I co-founded Tech Wahood<\/strong>, a software development house where we launched several startups, including Lucidya, and developed more than 270 projects. During my later years at Tech Wahood, I also wrote a third book on building mobile applications and created the Mobile App Canvas. It was a long journey with multiple hats to wear.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nqoodlet started as an expense management solution to address issues for the more <\/strong><strong>than 1.3 mn SMEs in Saudi Arabia.<\/strong> For them, handling financial operations is very hard, and they can't hire a chief financial officer with good experience, because it's very expensive. This has caused many SMEs to either go out of business or fail to gain adequate insights into their financial projections. Meanwhile, available ERP solutions are either very expensive or overly complicated. That\u2019s why Nqoodlet is building a comprehensive financial operating system specifically for these SMEs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I handle two roles at Nqoodlet. First, as CEO<\/strong>, I oversee all fundraising aspects, keep track of all departments\u2019 KPIs to check if we are hitting our targets, and follow up with all the teams. I also handle investor relations and manage communications with our major service providers while ensuring that the main vision for Nqoodlet is on track.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m also the chief product officer. <\/strong>In the early stages of any startup or company, the product needs to be led by the founder to ensure the vision is consistently aligned. During the last few months, I've actually started to rely more on the product team that I built internally. Now I have an acting product manager who is handling the day-to-day product operations. However, I still steward the big vision for the product and ensure we are going in the right direction with that vision.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Within the next three years, our goal is to handle all of the financial operations for SMEs<\/strong> \u2014 from planning to audited financial statements. We aim to make it effortless for them by providing automated VAT reports and financial insights. We are focusing on making the language of our platform very user-friendly while also catering to experienced accountants. We are designing the platform to fit our target audience, mainly startup founders and SME CEOs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We are also working on <\/strong><strong>something<\/strong><strong> called Plan<\/strong>, which gives SMEs the ability to plan and track their budget and expenses while eliminating the need for extensive manual work. I've seen it with many companies; they have an Excel sheet, and after a few months, they start to lose track. We aim to make it very easy for them, in a language they understand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My management style is a bit different, especially in the <\/strong><strong>tough<\/strong><strong> financial industry.<\/strong> I was initially advised to try to be tough, but then I received another piece of advice from a person I really admire: \u201cDon't try to change your way of management, or how you are dealing with the team, even if the whole industry is trying to push you.\u201d I took this advice seriously and decided to ignore the common advice to be tough and to continue with my own style.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I treat every team member as if we are working together on the same level.<\/strong> I don't like to pull rank unless it's really needed or our vision is being compromised. I also try to listen carefully and build an internal culture where everyone is welcome to talk and speak their mind, unless it concerns a major strategic direction. So, it's a balancing act. I'm neither purely logical nor purely emotional; it's almost a 50\/50 balance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Selecting the right co-founder is very important.<\/strong> My advice is that if you're going to have disagreements, it's best to have them at the beginning, not while you're building the startup. Fortunately, I have a great co-founder with me, Yara. She's a really great partner who is incredibly helpful and significantly lightens my workload.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another key point is team member selection.<\/strong> As a founder, particularly in the early stages, you need to personally vet the cultural fit of at least your first 50 hires. This is a vital point every founder needs to consider, because if someone isn\u2019t a good cultural fit, they can become a \u201cbad apple\u201d and negatively affect the whole team. When comparing two candidates, a better cultural fit will be more beneficial for the company\u2019s early development even if the other possesses marginally more knowledge.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uncertainty is inherent in all early-stage startups.<\/strong> For me, I have one word I always love to refer to: resilience. Any startup founder who does not possess resilience won't be able to keep the startup going or make it grow.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My daily routine starts by waking up between 5:30-6:30am.<\/strong> I go to the gym before work for about an hour, which helps release tension. I have an espresso in the gym lounge, I set my calendar, and then I start the \u201cbattle of the day\u201d at the office.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I pick up my four-year-old son from school at 12:30pm<\/strong>, and he comes with me to the office on most days. We call him the Chief Happiness Officer, and he enjoys his role immensely, spending his time interacting and playing with the team and making interesting observations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>After finishing my day at around 6:30-7:30pm<\/strong>, I go home and do some reading. I also take online Harvard courses in leadership, applying what I learn to our growing team. After that, I sometimes watch TV series, anime, or play video games to unwind. I try my best not to work on Fridays, unless it\u2019s urgent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I really enjoy reading about history<\/strong>, especially about specific eras or people. I also enjoy learning about the science of how people interact, think, and behave \u2014 psychology or behavioral science. Moreover, reading novels sometimes takes my mind away from the real world, and it increases my ability to think and experience different perspectives. Currently, I'm really enjoying Dawn by Octavia E. Butler.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two books I always recommend for anyone in the startup scene are<\/strong> The Hard Thing About Hard Things by Ben Horowitz and Deep Work by Cal Newport.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/my-morning-routine\/\">My morning routine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nqoodlet\/\">Nqoodlet<\/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=\"99284\" 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\/31\/99284\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99284\" class=\"content-area-description single-story post-99284 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 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>31 July (Thursday): Deadline for companies with SAR 40 mn in revenues from goods and services during <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1403.aspx\" style=\"\">June and 2Q 2025<\/a><\/span><span style=\"font-weight:400;\"> 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>31 July (Thursday): Deadline for companies to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/corp.asics.com\/en\/innovation_pitch_2025\/apply\" style=\"\">register<\/a><\/span><span style=\"font-weight:400;\"> for the ASICS Innovation Pitch competition. <\/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=\"font-weight:400;\">3 August (Sunday): Opec+ meeting to decide on production levels for September.<\/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=\"font-weight:400;\">.<\/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>9-11<\/span><span> September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/jib-expo.com\/\" style=\"\">International Beauty Expo 2025<\/a><\/span><span style=\"font-weight:400;\">, Jeddah Superdome.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-11 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/seredoexposa.com\/en\/home\/\" style=\"\">Seredo Real Estate Development and Ownership Exhibition<\/a><\/span><span>, <\/span><span style=\"font-weight:400;\">Jeddah Superdome, <\/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>1-3 October<\/span><span> (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.fibo.com\/arabia\/ar-sa.html\" style=\"\">FIBO Arabia 2025<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Exhibition & Conference Center. <\/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>24 October-1 November (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.experiencealula.com\/en\/whats-on\/festivals\/alula-wellness-festival\" style=\"\">AlUla Wellness Festival<\/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>26-27 October (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/globalproptechsummit.com\/\" style=\"\">The Global Proptech Summit 2025<\/a><\/span><span style=\"font-weight:400;\">, Mandarin Oriental Al Faisaliah, 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 style=\"font-weight:400;\">2 November (Sunday): Naming ASICS Innovation Pitch competition\u2019s six finalists.<\/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 style=\"font-weight:400;\">8-9 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\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>Coffee With Mostafa Gad | Americana 1H earnings | Dar Al Majed lands cornerstone investor | Mohamed Milyani\u2019s Morning Routine<\/p>\n","protected":false},"featured_media":99258,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-99257","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"36704d6e-bb4d-4c69-b874-6946b4412e3b","teaser":"Coffee With Mostafa Gad | Americana 1H earnings | Dar Al Majed lands cornerstone investor | Mohamed Milyani\u2019s Morning Routine","photo_url":"https:\/\/ent.news\/2025\/5\/1371.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>India\u2019s VA Tech Wabag lands SAR 1 bn Yanbu desalination plant contract. 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