{"id":99305,"date":"2025-08-03T00:00:00","date_gmt":"2025-08-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=99305"},"modified":"2025-12-14T21:40:37","modified_gmt":"2025-12-14T21:40:37","slug":"gdp-expands-in-2q-on-robust-non-oil-growth-while-budget-deficit-narrows","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/gdp-expands-in-2q-on-robust-non-oil-growth-while-budget-deficit-narrows\/","title":{"rendered":"GDP expands in 2Q on robust non-oil growth, while budget deficit narrows"},"content":{"rendered":"<section id=\"99307\" 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=\"99307\">\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\/08\/03\/riyadh-air-soon-to-fly-arab-investment-company-is-on-exit-mode\/\">\r\n                            THIS MORNING: Riyadh Air soon to fly? + Arab Investment Company is on \u201cexit mode\u201d                        <\/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\/08\/03\/riyadh-air-soon-to-fly-arab-investment-company-is-on-exit-mode\/\" 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\/08\/03\/riyadh-air-soon-to-fly-arab-investment-company-is-on-exit-mode\/')\">\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\/08\/03\/riyadh-air-soon-to-fly-arab-investment-company-is-on-exit-mode\/\">\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=Riyadh Air soon to fly? 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Our news well is dominated by GDP growth figures from Gastat, the latest quarterly budget performance report from the Finance Ministry, and S&P\u2019s forecasts for the Kingdom\u2019s financial health over the next few years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gist?<\/strong> Non-oil activity propped up the economy in 2Q, and growth is expected to remain solid through 2028 as diversification efforts bear fruit, but we should make ourselves comfortable with twin deficits as they\u2019re not going anywhere soon.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also in today\u2019s issue: <\/strong>An Acwa Power-led consortium secures SAR 12.8 bn for two 3.6 GW IPP projects, and Rawabi Marketing is moving ahead with floating 1 mn shares on Nomu.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT FIRST- We spent the weekend low-key freaking out about AI, and our weekend <\/strong><strong>reading did little to assuage our malaise: <\/strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/ai\/mckinsey-consulting-firms-ai-strategy-89fbf1be\" style=\"\" rel=\"noopener\">AI is coming for consulting, and McKinsey is freaking out<\/a>, the Wall Street Journal warns us. Smart folks are starting to get really worried not just about the safety of our jobs, but about <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-08-01\/ai-models-are-getting-better-at-winning-not-following-rules\" style=\"\" rel=\"noopener\">whether we can even trust AI not to kill us<\/a>. Per Bloomberg \u201cWould a chatbot kill you if it got the chance? It seems that the answer \u2014 under the right circumstances \u2014 is probably.\u201d <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7ce8a0c4-f806-44e4-96f5-8cae8772c97c\" style=\"\" rel=\"noopener\">And over in the pages of the FT, novelists are losing it<\/a>, worrying about the future of creativity in a gen AI world.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Palate cleanser: Samuel L. Jackson in a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.threads.com\/@wolfgangbremer\/post\/DMyP38vs9Pg\" style=\"\" rel=\"noopener\">delightfully profane ad<\/a><\/strong> for wind energy player Vattenfall.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> E<\/strong><strong>ight Opec<\/strong><strong>+ countries are scheduled <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.opec.org\/pr-detail\/244569-5-july-2025.html\" style=\"\" rel=\"noopener\">to meet today<\/a><\/strong><strong> to decide on oil production levels for <\/strong><strong>September.<\/strong> The oil cartel has reportedly agreed in principle to add another 548k bbl \/ d next month, an unnamed delegate told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-08-02\/opec-agrees-in-principle-to-548k-b-d-hike-in-sept-delegate\" style=\"\" rel=\"noopener\">Bloomberg<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The last hike?<\/strong> The increase would complete the reversal of a previous 2.2 mn bbl \/ d cut, bringing the group\u2019s production to some 33 mn bbl \/ d by September. Goldman Sachs <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1f35edd9-ecae-4cba-9051-6f4591146eae\/%253cmark%253e%253c%2Fmark%253ealinma%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ebank%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eis%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253egearing%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eup%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efor%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eusd%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253edenominated%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253esukuk%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eissuance%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">expects<\/a> Opec+ to stop increasing output after September, citing rising US oil production and slowing global demand. A separate, larger cut of 3.65 mn bbl \/ d remains in effect until the end of 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We took a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ffe52bf5-068a-4a83-b71e-b779e187f4be\" style=\"\" rel=\"noopener\">deep dive<\/a><\/strong><strong> on Opec+\u2019s output increase and what it means for us.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s another blazing day in the Kingdom, with Riyadh expected to see a high of 44\u00b0C and a low of 34\u00b0C today, while Jeddah\u2019s mercury will go as high as 40\u00b0C and as low as 33\u00b0C. Makkah is in for thunderstorms, with a 42\u00b0C high and 35\u00b0C low.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">NEWS TRIGGERS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A<\/strong><strong>ramco is expected to publish its 1H 2025 earnings on Tuesday, 5 August<\/strong>, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/webcast.openbriefing.com\/11873\/\" style=\"\" rel=\"noopener\">website<\/a>. The oil giant is forecasted to post SAR 92.8 bn in net income for the quarter, up from SAR 106.2 bn recorded in the same period last year, according to <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/ar\/article\/articledetail\/id\/1828556\" style=\"\" rel=\"noopener\">Argaam<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The company posted a 4.6% y-o-y drop in net income to SAR 97.5 bn (USD 26 bn) in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f8f95ee1-3530-42c2-b734-8267500ec43a\" style=\"\" rel=\"noopener\">1Q 2025<\/a>, exceeding analyst estimates by some SAR 3.4 bn amid weaker oil prices caused by global economic uncertainty.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tuesday will be busy: <\/strong>Riyad Bank\u2019s Purchasing Managers Index for July is also set to come out on the same day. Non-oil business activity in the Kingdom accelerated <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f1e23d6d-ff72-439e-98f8-099749c9e307\/non-oil-activity-growth-hits-three-month-high-in-june\" style=\"\" rel=\"noopener\">in June<\/a>, driven by expansions in new client demand and a surge in hiring.<\/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>Businesses subject to w<\/strong><strong>ithholding tax must file their June tax returns by Sunday, 10 <\/strong><strong>August via Zatca\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/en\/eServices\/Pages\/eServices_066.aspx\" style=\"\" rel=\"noopener\">website<\/a><\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/x.com\/Zatca_sa\/status\/1951274818474520615\" style=\"\" rel=\"noopener\">post on X<\/a>. Meanwhile, Businesses subject to VAT have until Sunday, 31 August 2025 to file their July tax returns.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong> <strong>Registration is no<\/strong><strong>w open for Monsha\u2019at\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.monshaat.gov.sa\/ar\/form\/Register_your_interest_to_participate_in_the_Jadeer_Tour_khobar\" style=\"\" rel=\"noopener\">Jadeer Tour<\/a><\/strong><strong> in Khobar, <\/strong>the authority said <a target=\"_blank\" href=\"https:\/\/x.com\/MonshaatSA\/status\/1950958886812606724\" style=\"\" rel=\"noopener\">on<\/a><a target=\"_blank\" href=\"https:\/\/x.com\/MonshaatSA\/status\/1950958886812606724\" style=\"\" rel=\"noopener\">X<\/a> on Thursday. The two-day event begins on Monday, 11 August, in the city\u2019s SME Support Center, offering attendees the opportunity to learn about the Jadeer service and receive valuable training and support for their businesses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a> #1-<\/strong> <strong>The USD 1.2 bn state-backed Arab<\/strong><strong> Investment Company (TAIC) is divesting its legacy <\/strong><strong>portfolio as it pivots toward private markets<\/strong>, CEO Abdullah Bakhraibah told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-31\/saudi-arabia-kuwait-backed-wealth-fund-to-sell-assets-in-private-markets-pivot\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The move aims to lift average annual returns to 9% from 5%, following a strategic review that weighed closing the firm against a full overhaul.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Going \u201cexit mode\u201d:<\/strong> TAIC is liquidating its holdings in short-term lending, letters of credit, government bonds, and treasury bills as it shifts to a \u201ccommercially-driven investor,\u201d Bakhraibah \u2014 who joined the company in 2023 from State Street Corp \u2014 said. The freed-up capital will be redeployed mainly into private markets, public equities and venture investments, targeting sectors like healthcare, education, and technology, industrials, and artificial intelligence. The firm plans at least 20 new transactions this year across shareholder countries and is exploring potential partnerships with the PIF and Kuwait\u2019s sovereign wealth fund.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About TAIC: <\/strong>Founded in 1974, the firm is one of the region\u2019s first sovereign wealth funds, owned by 17 Middle Eastern countries, with Saudi Arabia and Kuwait among its largest shareholders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> #2- <\/strong><strong>Riyadh Air soo<\/strong><strong>n to fly in London\u2019s sky? <\/strong>PIF-owned <a target=\"_blank\" href=\"https:\/\/www.riyadhair.com\/en\/home\" style=\"\" rel=\"noopener\">Riyadh Air<\/a> will reportedly launch flights on 26 October connecting Riyadh and London Heathrow Airport, using its Boeing 787-9 Dreamliner fleet, <a target=\"_blank\" href=\"https:\/\/www.aviationbusinessme.com\/airlines\/riyadh-air-reportedly-secures-heathrow-slots-for-daily-london-service\" style=\"\" rel=\"noopener\">Aviation Business<\/a> reported. The move follows securing a daily slot at Heathrow swapping with British Airways, marking its first-ever international destination in Europe.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could we see the launch before 3Q ends? <\/strong>Saudi\u2019s newest carrier has pushed back its launch to 3Q 2025 from earlier this year after facing delays in Boeing aircraft deliveries. The airline voiced plans <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d6ff6031-98b6-44dd-9743-a9518fd82d11\" style=\"\" rel=\"noopener\">in June<\/a> to serve 100 cities by 2030, aiming to add a destination every two months once it\u2019s operational. The carrier also announced it has snapped up the necessary landing slots for its first destinations, and is set to reveal its first route and ticket sale mechanism in the upcoming months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>23 people were injured when a<\/strong><strong>n amusement park ride collapsed in the Al Hada<\/strong><strong> area of Taif on Wednesday<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/saudi-today\/2025\/07\/31\/%D8%A7%D8%BA%D9%84%D8%A7%D9%82-%D9%85%D9%86%D8%AA%D8%AC%D8%B9-%D8%AA%D8%B1%D9%81%D9%8A%D9%87%D9%8A-%D8%BA%D8%B1%D8%A8-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%B9%D9%82%D8%A8-%D8%AD%D8%A7%D8%AF%D8%AB%D8%A9-%D8%B3%D9%82%D9%88%D8%B7-%D9%84%D8%B9%D8%A8%D8%A9-%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A6%D9%8A%D8%A9-\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reported. The 360 Big Pendulum ride broke mid-air, causing the section carrying passengers to crash to the ground, which pushed authorities to shut down the park and launch an investigation into the accident.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p><a target=\"_blank\" id=\"id.vsmcee4rjsan\" rel=\"noopener\"><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia\u2019s oil drilling rig count has fallen for the sixth consecutive month to <\/strong><strong>20<\/strong>, its lowest level in over two decades, and a significant drop from 46 rigs in early 2024 as the nation pivots its investment focus from oil to natural gas, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-08-01\/saudi-oil-rigs-slump-to-lowest-in-20-years-outpaced-by-gas\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing Baker Hughes data.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Out with the old: <\/strong>The 18-month downward trend has largely been driven by Riyadh's decision to abandon plans to increase Saudi Aramco's oil production capacity to 13 mn bbl\/d, maintaining it at the current 12 mn. With several major oilfield expansion projects now complete or nearing completion, the need for new oil rigs has diminished, Qamar Energy founder Robin Mills said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In with the new:<\/strong> Over half of the Aramco\u2019s upstream spending is now directed towards gas projects, the star of which is the USD 100 bn Jafurah gas project, whose first phase is expected to start this year, Aramco CEO Amin Nasser said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f8f95ee1-3530-42c2-b734-8267500ec43a\/%253cmark%253e%253c%2Fmark%253earamco%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253esees%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253emixed%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e1q%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eresults%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eas%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eperformance%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253edividend%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eplunges%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">in May<\/a>. The Kingdom aims to replace approximately 1 mn barrels of crude oil used for domestic power generation with natural gas by 2030 and is also exploring options for future gas exports.<\/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>It\u2019s finally August \u2014 aka Tariff Month \u2014 and US President Donald Trump has published <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/presidential-actions\/2025\/07\/further-modifying-the-reciprocal-tariff-rates\/\" style=\"\" rel=\"noopener\">a<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/presidential-actions\/2025\/07\/further-modifying-the-reciprocal-tariff-rates\/\" style=\"\" rel=\"noopener\">list of new tariffs<\/a><\/strong> set to be implemented next Friday. Trading partners are sorted into three groups depending on trade surplus, with most of the Gulf falling to the first group hit by the minimum 10%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among the highest tariffs:<\/strong> Canada will be slapped with a 35% tariff, higher than the earlier announced 25%, as diplomatic friction between the country continues and after it said it would recognize a Palestinian state; Switzerland was slapped with a 39% tariff; and India will be subject to a 25%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story is everywhere in the foreign press:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/live-blog\/2025-07-31\/us-tariff-deadline?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/trump-sets-10-41-reciprocal-tariffs-dozens-countries-exports-2025-07-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/be3ac299-46a3-4362-a725-bb3d8128ddc9\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/08\/01\/trump-rejigs-tariff-rates-ahead-of-deadline-levies-40percent-duties-on-all-transshipped-goods.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2025\/07\/31\/us\/trump-news\" style=\"\" rel=\"noopener\">New York Times<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Trump shoots the messenger: <\/strong>Worse-than-expected job growth numbers prompted the president to <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/08\/01\/trump-erika-mcentarfer-jobs-report-fired.html\" style=\"\" rel=\"noopener\">fire the Bureau of Labor Statistics commissioner<\/a> Erika McEntarfer, a Biden appointee who \u201cfaked the Jobs Numbers before the Election to try and boost Kamala\u2019s [Harris\u2019] chances of Victory,\u201c he claimed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Fed is also closer to danger: <\/strong>The decision coincided with an opening for Trump to target the Fed by appointing one more governor, after <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/litigation\/trump-fires-us-labor-official-over-data-gets-earlier-than-expected-chance-2025-08-02\/\" style=\"\" rel=\"noopener\">governor Adriana Kugler resigned on Friday<\/a>. Trump had <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-powell-interest-rates-federal-reserve-fed-88fe11c20c3074bbd1445a69bbdc623e\" style=\"\" rel=\"noopener\">lashed out at chairman Jerome Powell<\/a> for not capitulating to interest rate cuts demands, calling him \u201cTOO ANGRY, TOO STUPID, & TOO POLITICAL,\u201d and calling on the Fed\u2019s board to assume control of the independent institution.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Markets are not liking the volatility: <\/strong>Dow Jones closed down 1.2% on Friday, while the S&P declined 1.6% and the Nasdaq Composite shed 2.2%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO GETTING ATTENTION- Apple and Amazon published their earnings on Thursday:<\/strong><\/p>\n<ul>\n<li><strong>Apple benefited from a boost in iPhone sales as customers rushed to lock in pre-tariff prices<\/strong>, with overall sales rising 10% y-o-y. CEO Tim Cook said the company will be hit with USD 1.1 bn in costs from the tariffs in 3Q 2025 alone. (<a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/earnings\/apple-earnings-q3-2025-aapl-stock-6ddd867b?mod=hp_lead_pos2\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/apple-revenue-forecast-beats-estimates-tariff-costs-projected-11-billion-2025-07-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>Amazon\u2019s shares fell more than 7% after hours as its cloud computing unit failed to meet earnings expectations<\/strong>, with net income margins contracting, after rivals Microsoft and Alphabet both reported impressive performance for their cloud units. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/amazon-cloud-computing-results-fail-impress-shares-dive-2025-07-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh is s<\/strong><strong>et to host the first-ever <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.comotionglobal.com\/\" style=\"\" rel=\"noopener\">CoMotion Global 2025<\/a><\/strong><strong> in the Middle East between 7-9 <\/strong><strong>December.<\/strong> The three-day event will bring together global leaders in sectors like sustainability, urban technologies, and smart mobility to showcase the Kingdom\u2019s mega projects and investments in smart infrastructure via panel discussions, presentations, and networking windows, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2371042\" style=\"\" rel=\"noopener\">SPA<\/a> reported on Thursday.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/riyadh-air\/\">Riyadh Air<\/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            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           <\/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=\"99310\" 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=\"99310\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/03\/gdp-expands-in-2q-on-robust-non-oil-growth\/\">\r\n                            GDP grows 3.9% with non-oil sector at the helm              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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\/08\/03\/gdp-expands-in-2q-on-robust-non-oil-growth\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/936.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99311\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/03\/gdp-expands-in-2q-on-robust-non-oil-growth\/936-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/936.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"936.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/936.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/936.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99310\" class=\"content-area-description single-story post-99310 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-ksa tag-gdp-growth 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\/8\/.0e2dad8d-08fe-496b-9064-56b06d9c1364.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Saudi Arabia's real GDP grew 3.9% y-o-y in the 2Q 2025, <\/strong>supported by a strong momentum in the non-oil sector, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1996.pdf\" style=\"\" rel=\"noopener\">flash estimates (pdf)<\/a> from the General Authority for Statistics (Gastat) Non-oil activities saw the strongest growth, surging 4.7% y-o-y, while oil activities increased 3.8% y-o-y and government activities recorded a modest 0.6% increase.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> Non-oil activities made the largest contribution to GDP growth, accounting for 2.7 percentage points. Oil activities also made a positive contribution of 0.9 percentage points, while government activities added 0.1 percentage points and net taxes on products contributed 0.2 percentage points.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis:<\/strong> the kingdom\u2019s seasonally adjusted real GDP rose 2.1% q-o-q in 1Q 2025, largely fueled by a substantial 5.6% increase in oil activities, their biggest jump since 3Q 2021. Non-oil activities also expanded 1.6%, while government activities contracted by 0.8%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big picture: <\/strong>\u201cThis coincides with Opec+ beginning to raise output from April and the accelerated pace that the Kingdom pushed for from June,\u201d Capital Economics\u2019 James Swanston wrote in a recent research note seen by EnterpriseAM. The move to increase oil output by over 500k bpd through August and September will further boost oil GDP growth in 3Q 2025, CE projected.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The growth will continue over the second half of the year<\/strong>, with Saudi Arabia\u2019s economic expansion set to accelerate on the back of increased oil output, Swanston said in the research note. Non-oil business activity in the Kingdom <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f1e23d6d-ff72-439e-98f8-099749c9e307\/%253cmark%253enon%253c%2Fmark%253e-%253cmark%253eoil%253c%2Fmark%253e-activity-growth-hits-three-month-high-in-june\" style=\"\" rel=\"noopener\">hit<\/a> a three-month high in June, driven by expansions in new client demand and a surge in hiring.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT-<\/strong> Lower revenues from oil exports are likely to push the government towards fiscal consolidation, which has the potential to affect non-oil growth. \u201cFaster growth in the oil sector will cause overall GDP to accelerate by more than other analysts expect this year, but this will mask a slowdown in the non-oil sector,\u201d Swanston wrote.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The Kingdom\u2019s oil exports <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e9aec512-cb8d-4403-931f-f9a6d45ddae6\/%253cmark%253eoil%253c%2Fmark%253e-exports-fall-to-four-year-low-in-may,%253cmark%253e-non%253c%2Fmark%253e-%253cmark%253eoil%253c%2Fmark%253e-exports-marginally-down\" style=\"\" rel=\"noopener\">dropped<\/a> 21.8% y-o-y to SAR 59.3 bn in May, its lowest level since May 2021, stretching April\u2019s downward trend.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GDP outlook in focus: <\/strong>The IMF recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a9fc6b69-3f80-438f-837f-d56da3aa4e32\/imf-revises-our-growth-forecast-upwards\" style=\"\" rel=\"noopener\">raised<\/a> its forecast for our GDP growth in 2025 to 3.6%, up 0.6 percentage points from its April projection. Growth for 2026 is also expected to rise to 3.9%, revised upwards by 0.2 percentage points. The World Bank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4827c48b-6065-4641-a0cb-7a2883434ae6\/%253cmark%253e%253c%2Fmark%253eworld%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ebank%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ekeeps%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253egdp%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253egrowth%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eforecast%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eunchanged%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eat%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e2%253cmark%253e%253c%2Fmark%253e.%253cmark%253e%253c%2Fmark%253e8%253cmark%253e%253c%2Fmark%253e%2525%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e2025%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">maintained<\/a> in June its growth forecasts for Saudi Arabia at 2.8% in 2025 and 4.5% in 2026, while a recent Reuters poll <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1d71e484-dcb0-4ad8-a709-e0e1a44514a2\/saudi%253cmark%253e-gdp-%253c%2Fmark%253eexpected-to-grow-3.8%2525-in-2024--reuters-poll\" style=\"\" rel=\"noopener\">anticipates<\/a> Saudi Arabia to record 3.8% growth this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Gastat recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/807cd9e9-2fb0-45ed-848f-44eecd3652c1\/%253cmark%253egdp-growth%253c%2Fmark%253e-revised-up-to-3.4%2525-in-1q-2025\" style=\"\" rel=\"noopener\">updated<\/a> its nominal and real GDP historical data over 2011-2024 as part of a revision project that looks to better capture economic transformation with more detailed insights into the performance of key sectors in the economy. GDP growth during 1Q 2025 was revised upwards to 3.4% y-o-y, from the 2.7% figure reported back in May.<\/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\/gdp-growth\/\">GDP growth<\/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=\"99312\" 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=\"99312\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/03\/saudi-plugs-budget-gap-with-spending-brake-in-2q-2025\/\">\r\n                            Budget deficit narrows to SAR 34.5 bn in 2Q 2025                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/03\/saudi-plugs-budget-gap-with-spending-brake-in-2q-2025\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Government revenues reached SAR 301.6 bn during the quarter, down 15% y-o-y, while expenditures fell 9% y-o-y to SAR 336.1 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For the first half of the year<\/strong>, the deficit totaled SAR 93.2 bn, with revenues reaching SAR 565.2 bn, down 13% compared to the same period last year, while expenditures came in at SAR 658.4 bn, down 2% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Fitch forecasts that the budget deficit will widen to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0fa9d2e7-532c-45de-9378-51aa32a3d82b\/fitch-maintains-the-kingdom%25e2%2580%2599s-credit-rating-at-a%2B-with-stable-outlook\" style=\"\" rel=\"noopener\">4.0% of GDP in 2025 and 4.1% in<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0fa9d2e7-532c-45de-9378-51aa32a3d82b\/fitch-maintains-the-kingdom%25e2%2580%2599s-credit-rating-at-a%2B-with-stable-outlook\" style=\"\" rel=\"noopener\">2026<\/a>, primarily due to lower projected oil prices \u2014 as the average Brent crude price is expected to hit USD 70 a barrel this year \u2014 and reduced dividends from Saudi Aramco.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong><strong> Finance Ministry <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/72e76ea0-cfe5-4328-95c3-cf39eefa9004\/\" style=\"\" rel=\"noopener\">expected<\/a><\/strong><strong> the budget deficit to come in at 2.3% of GDP <\/strong><strong>(SAR 101 bn) in this fiscal year. <\/strong>Officials said the Kingdom is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/730d70af-1544-402a-a451-1b7b212ad097\" style=\"\" rel=\"noopener\">willing to accept (modest) fiscal deficits<\/a> as the price of pursuing long-term diversification goals, framing it as wanting to avoid \u201coverheating\u201d the national economy.<\/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 BREAKDOWN-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil revenues accounted for around 50% of total government income in 2Q 2025<\/strong>, coming in at SAR 151.7 bn (a drop of c. 29% y-o-y). Meanwhile, non-oil revenues made up the other half, reaching SAR 149.9 bn, up about 7% compared to the same period last year, driven by higher tax collections across the board.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total expenditures in 2Q 2025 stood at<\/strong><strong> SAR 336.1 bn, down 9% y-o-y<\/strong><strong>. <\/strong>Compensation for government employees remained the single largest spending item at SAR 140.4 bn \u2014 roughly 42% of total spending \u2014 and was broadly flat compared to the same quarter last year. Spending on goods and services followed at SAR 73.6 bn, down 3% y-o-y.<\/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>Oil revenues came in at SAR 301.5 bn, down 24% y-o-y, while non-oil revenues rose 5% y-o-y to SAR 263.7 bn. Compensation of employees increased 3% to SAR 286.5 bn, and spending on goods and services reached SAR 138.2 bn, inching up 1% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The debt situation: <\/strong>Total public debt stood at SAR 1.39 tn at the end of the second quarter, with domestic debt amounting to SAR 871.3 bn, while external debt reached SAR 515.1 bn. Debt issuances during the first half of the year included SAR 197.6 bn of domestic debt and SAR 54 bn in external debt.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/budget-watch\/\">budget watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/non-oil-sector\/\">Non-oil sector<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99314 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"99314\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/03\/99314\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99314\" class=\"content-area-description single-story post-99314 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.facebook.com\/share\/14kMLw9bpD\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/2005.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99315\" 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=\"99315\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/03\/gdp-growth-to-remain-strong-until-2028-despite-deficits-sp\/\">\r\n                            GDP growth to average 3.5% until 2028 -S&amp;P                        <\/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\/08\/03\/gdp-growth-to-remain-strong-until-2028-despite-deficits-sp\/\" 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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This is supported by expected stability across the banking and corporate sectors and strong growth prospects for an investment-grade ins. market.<\/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>Twin deficits are sticking around from 2025-2028,<\/strong>, with fiscal deficits averaging 4.4% of GDP and current account deficits around 2.4% of GDP due to government spending on Vision 2030 projects, major international events, and rising imports for development projects. Gross external financing needs are expected to rise to an average of 85% of current account receipts and usable reserves, up from 69% last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zooming<\/strong><strong> out: <\/strong>S&P expects the non-oil sector\u2019s contribution to the Kingdom\u2019s GDP to remain stable around the 51-52% mark until 2028. Oil is expected to contribute 27-28%, while the government sector\u2019s share will remain a steady 21% of the economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi banks are well-capitalized<\/strong>, with a capital adequacy ratio of 19.6% at the end of 2024, far exceeding the 10.5% minimum requirement. This is reflected in the \u201cStrong\u201d rating for capital and earnings across all eight rated financial institutions, all of which have a \u201cStable\u201d outlook with ratings from A to BBB+. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>.. and are adopting new funding strategies:<\/strong> Banks are progressively using alternative funding sources like external debt to support Vision 2030 investment needs, creating a net external debt position of nearly 1% of total loans by the end of 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong><strong> Saudi corporate and infrastructure portfolio is largely stable<\/strong>, with 71% of its issuers being investment-grade, with a similar ratio of government-related entities (GREs). All rated companies have a rating between A+ and B+ with a stable outlook, except for Almarai which has a positive outlook.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ins. market is highly <\/strong><strong>concentrated<\/strong>, with the top five players generating 70%-75% of revenues. This, along with intense competition in key lines like motor and medical, pressures the margins and underwriting performance of the other 21 insurers. Despite these market-wide challenges, the six rated issuers are all investment-grade with stable outlooks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The rating agency had raised its 2025 GDP growth forecast for the Kingdom by 0.2 percentage points to 3.7% <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b7ab58bc-1f79-4534-a04a-c156ca273abf\/%253cmark%253es&p%253c%2Fmark%253e-revises-up-gdp-growth-forecasts-for-2025\" style=\"\" rel=\"noopener\">in June<\/a>, citing increased oil production. However, the agency lowered its projections for subsequent years due to a revised GDP methodology, trimming its 2026 forecast by 0.3 percentage points to 3.9% and setting its forecast for 2027 to 3.2%, and for 2028 to 3.1%.<\/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\/banking\/\">BANKING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ins\/\">Ins.<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/non-oil\/\">non-oil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sp-global-ratings\/\">S&amp;P Global Ratings<\/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=\"99317\" 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=\"99317\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/03\/acwa-power-led-consortium-secures-financing-for-two-ipp-projects\/\">\r\n                            Acwa Power-led consortium secures SAR 12.8 bn for 3.6 GW IPP projects                        <\/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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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/971.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99318\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/03\/acwa-power-led-consortium-secures-financing-for-two-ipp-projects\/971-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/971.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"971.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/971.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/971.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99317\" class=\"content-area-description single-story post-99317 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-acwa-power tag-energy tag-enterpriseam-ksa 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\/8\/.46d051ce-8d0f-4670-84d1-9581f913f817.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Funding secured for tw<\/strong><strong>o power plants:<\/strong> An <a target=\"_blank\" href=\"https:\/\/www.acwapower.com\/\" style=\"\" rel=\"noopener\">Acwa Power<\/a> -led consortium, along with <a target=\"_blank\" href=\"https:\/\/www.se.com.sa\/en\" style=\"\" rel=\"noopener\">Saudi Electricity Company<\/a> (SEC) and <a target=\"_blank\" href=\"https:\/\/kepcopc.com\/\" style=\"\" rel=\"noopener\">Korea Electric Power Corporation<\/a> (Kepco), secured SAR 12.8 bn in senior debt financing for the establishment of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3992bded-5db5-4736-9579-de3069ba89c2\" style=\"\" rel=\"noopener\">Rumah-1 in<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3992bded-5db5-4736-9579-de3069ba89c2\" style=\"\" rel=\"noopener\">Riyadh and Al Nairyah-1 in the Eastern Province<\/a>, <a target=\"_blank\" href=\"https:\/\/www.tradearabia.com\/News\/435292\/Acwa-consortium-wins-%243.4bn-funding-for-Saudi-power-projects\" style=\"\" rel=\"noopener\">Trade Arabia<\/a> reported on Thursday.<\/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>Who\u2019s in?<\/strong> The financing came from Export Import Bank of Korea (Kexim), Saudi National Bank, Saudi Investment Bank, Banque Saudi Fransi, Standard Chartered Bank, Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, and Arab Petroleum Investments Corporation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the projects: <\/strong>The two large-scale combined cycle gas turbine power plants \u2014 costing a combined SAR 15 bn \u2014 will each boast a production capacity of 1.8 MW, making up for nearly 2.5% of the national grid\u2019s capacity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who owns what?<\/strong> Saudi Power Procurement Company (SPPC) is the principal buyer for both projects, with Acwa Power and SEC each holding a 35% stake, while Kepco will obtain the remaining 30%. With a combined financing of SAR 6.4 bn each, Remal Energy Company will operate Rumah-1 plant, while Naseem Energy Company will take over Nairyah-1.<\/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\/acwa-power\/\">ACWA power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99319 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=\"99319\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/03\/99319\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99319\" class=\"content-area-description single-story post-99319 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=\"99320\" 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=\"99320\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/03\/rawabi-marketing-is-coming-to-nomu\/\">\r\n                            Chemicals supplier Rawabi Marketing is floating 1 mn shares on Nomu in a primary offering                        <\/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\/08\/03\/rawabi-marketing-is-coming-to-nomu\/\" 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\/08\/03\/rawabi-marketing-is-coming-to-nomu\/')\">\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\/08\/03\/rawabi-marketing-is-coming-to-nomu\/\">\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=Rawabi Marketing is coming to Nomu&url=https:\/\/enterpriseam.com\/ksa\/2025\/08\/03\/rawabi-marketing-is-coming-to-nomu\/\">\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\/08\/03\/rawabi-marketing-is-coming-to-nomu\/&title=Rawabi Marketing is coming to Nomu\">\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=Rawabi+Marketing+is+coming+to+Nomu+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F08%2F03%2Frawabi-marketing-is-coming-to-nomu%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\/08\/03\/rawabi-marketing-is-coming-to-nomu\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99321\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/03\/rawabi-marketing-is-coming-to-nomu\/766-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"766.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99320\" class=\"content-area-description single-story post-99320 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-enterpriseam-ksa tag-ipo-watch tag-rawabi-marketing 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\/8\/.794ed84f-c2c7-4163-bb3a-5aff740f1e10.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Rawabi Marketing Int\u2019l issues prospectus for Nomu IPO: <\/strong>Riyadh-based chemicals company <a target=\"_blank\" href=\"https:\/\/rawabi.com.sa\/\" style=\"\" rel=\"noopener\">Rawabi Marketing International (RMI)<\/a> is offering 1 mn new shares \u2014 representing 6.45% of its post-IPO capital \u2014 on Tadawul\u2019s parallel market Nomu to fund growth plans, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/2006.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a>. The primary offering comes a little over four months after the company secured <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/82568b72-d9af-4ce9-b9bc-9eeb13d017db\/aramco-is-actively-exploring-more-investments-in-china-%2B-othaim-investment-is-planning-for-an-ipo-this-year\" style=\"\" rel=\"noopener\">regulatory approval<\/a> for the move.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The timeline: <\/strong>The subscription period is due to kick off on Wednesday, 27 August and wrap up on Wednesday, 3 September. Qualified investors will be able to book up to 775k shares each with the minimum limit set at 10. Final allocations will be made on Sunday, 7 September. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RMI\u2019s substantial shareholders will not receive any proceeds.<\/strong> They will see their holding diluted to a combined 58.6% stake down from 62.6%, with a 12-months lockup period from the first day of trading. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the company: <\/strong>Founded in Riyadh in 1994, Rawabi is a supplier of commodity and specialty chemicals, and has clients across 25 countries, according to its <a target=\"_blank\" href=\"https:\/\/rawabi.com.sa\/about-us\/\" style=\"\" rel=\"noopener\">website<\/a>. The company\u2019s bottomline shed 41% y-o-y to SAR 11 mn in 9M 2024, despite its topline growing 7.8% y-o-y to SAR 438.5 mn over the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Watheeq Capital quarterbacked the transaction as its financial advisor, with Derayah financial acting as the lead manager. Receiving agents include Alinma Investment, Al Rajhi Capital, SNB Capital <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO IN THE NOMU PIPELINE- <\/strong>The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0834627c-7c0a-4a55-ad8a-7f8caf8fdb67\/sign-world-is-taking-20%2525-stake-to%253cmark%253e-nomu%253c%2Fmark%253e-in-primary-offering\" style=\"\" rel=\"noopener\">National Signboards Company for Industry (SignWorld)<\/a> was the latest to issue a prospectus for its Nomu IPO. The Capital Market Authority has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cc164777-d34c-4841-ac5e-6452c5649730\/tadawul-adds-two-companies-to-tasi,-10-to-nomuc-following-2q-rebalancing.-plus:%253cmark%253e-cma%253c%2Fmark%253e-approves-new-listings\" style=\"\" rel=\"noopener\">most recently cleared<\/a> Nayomi brand operator <a target=\"_blank\" href=\"https:\/\/jamjoomfashion.com\/\" style=\"\" rel=\"noopener\">Jamjoom Fashion Trading<\/a>, online supplement store <a target=\"_blank\" href=\"https:\/\/mithaly.sa\/en?srsltid=AfmBOoqNwyNys-gwYsLKm1JKCbMJjiMXDbIvttyoz2dii7buSgm6ssK4\" style=\"\" rel=\"noopener\">Alwazn Almithaly for Trading<\/a>, along with two new equity funds to list on the parallel market. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c75bd9e4-491a-4125-98c9-5b6a1efda40f\/ev-maker-lucid-will-export-92%2525-of-its-production-%2B-cma-approves-ipos-on-tadawul,-nomu\" style=\"\" rel=\"noopener\">Qudra for Communications and IT<\/a>, medical equipment supplier <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0513a66d-5ab7-4ca7-b39b-dd4bbe95d1c2\/umm-al-qura-for-development-to-debut-on-the-main-market-today\" style=\"\" rel=\"noopener\">Wajd<\/a>, property developer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6ea45baa-968f-4f7d-bd54-14ea11eb0dc2\/investors-eyes-minority-stake-in-arizona-mine-%2B-russia,-ukraine-back-to-riyadh-for-ceasefire-talks\" style=\"\" rel=\"noopener\">Hammad Mohammed Bin Saedan Real Estate<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/82568b72-d9af-4ce9-b9bc-9eeb13d017db\/aramco-is-actively-exploring-more-investments-in-china-%2B-othaim-investment-is-planning-for-an-ipo-this-year\" style=\"\" rel=\"noopener\">Afaq Al Arabiya for Transportation and Storage<\/a>, had also lined up the regulator's approval earlier to IPO on Nomu.<\/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\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/rawabi-marketing\/\">Rawabi Marketing<\/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=\"99322\" 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=\"99322\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/03\/acwa-power-elm-saptco-yamama-cement-report-2q-earnings\/\">\r\n                            Acwa Power, Elm, Saptco, Yamama Cement report 2Q 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\/08\/03\/acwa-power-elm-saptco-yamama-cement-report-2q-earnings\/\" 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 figure fell short of Bloomberg\u2019s <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financial-reports\/92386\/%D8%A3%D8%B1%D8%A8%D8%A7%D8%AD-%D9%88%D8%A5%D9%8A%D8%B1%D8%A7%D8%AF%D8%A7%D8%AA-%D8%A3%D9%83%D9%88%D8%A7-%D8%A8%D8%A7%D9%88%D8%B1-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AF%D9%88%D9%86-%D8%A7%D9%84%D9%85%D8%AA%D9%88%D9%82%D8%B9-%D9%84%D9%84%D8%B1%D8%A8%D8%B9-%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A\/\" style=\"\" rel=\"noopener\">analysts expectations<\/a> of SAR 564.3 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, revenue went up 11.8% y-o-y to SAR 1.7 bn in 2Q 2025<\/strong>, driven by higher electricity sales.<\/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 inched down 1.9% y-o-y to SAR 909 mn, while its top line increased 32% y-o-y to SAR 3.7 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividends:<\/strong> The power giant distributed SAR 62.5 mn in dividends for 1H 2025, compared to SAR 376.6 mn for the same period last 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\">ELM COMPANY-<\/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:\/\/elm.sa\/en\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Elm Company<\/a><\/strong><strong>\u2019s net income rose 21.1% y-o-y to SAR 590 mn in 2Q 2025<\/strong>, supported by strong top-line growth and higher gross profitability, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=89144&anCat=1&cs=7203&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Revenue climbed 27.1% y-o-y to SAR 2.2 bn during the quarter, driven by solid performances across its digital businesses, process outsourcing, and professional services segments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 1H basis, the company\u2019s bottom line rose 30.6% y-o-y to SAR 1.1 bn<\/strong>, while revenue increased 21% y-o-y to SAR 4.1 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Elm Education\u2019s board greenlit the distribution of SAR 350.4 mn in dividends for 1H 2025 at SAR 4.50 apiece, 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=89150&anCat=1&cs=7203&locale=en\" style=\"\" rel=\"noopener\">Tadawul disclosure<\/a>. The distribution date is set for 19 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\">SAPTCO-<\/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:\/\/saptco.com.sa\/en\" style=\"\" rel=\"noopener\">Saudi Public<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/saptco.com.sa\/en\" style=\"\" rel=\"noopener\">Transport Company<\/a><\/strong><strong>\u2019s (Saptco) net loss slightly narrowed to SAR 40.5 mn in <\/strong><strong>2Q 2025<\/strong>, compared to SAR 41.6 mn in the same period last year, despite higher revenue cost, Zakat and Tax expenses, and lower finance and other income, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=89128&anCat=1&cs=4040&locale=en\" style=\"\" rel=\"noopener\">Tadawul disclosure<\/a> on Thursday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Revenue expanded 20.3% y-o-y to SAR 503.1 mn<\/strong>, pushed by a rise in public transport operations. The company\u2019s accumulated losses reached SAR 317.2 mn, or 25.4% of its capital.<\/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 turned to the black with SAR 20.4 mn in net income, compared to SAR 7 mn in net loss in 1H 2024. Revenue increased 16.2% y-o-y to SAR 844.4 mn.<\/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\">YAMAMA CEMENT-<\/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.yamamacement.com\/en\/Pages\/home.aspx\" style=\"\" rel=\"noopener\">Yamama Cement Company<\/a><\/strong><strong> saw its net income surge 43% y-o-y to SAR 121 mn in 2Q <\/strong><strong>2025<\/strong>, driven by a significant increase in sales volume, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=89131&anCat=1&cs=3020&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> on Thursday. Revenue also jumped 48.7% y-o-y to SAR 362.4 mn over the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 1H basis, the company\u2019s net income rose 31.8% y-o-y to SAR 263.1 mn<\/strong>, while revenue climbed 37.5% y-o-y to SAR 711.4 mn.<\/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\/acwa-power\/\">ACWA power<\/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\/elm-company\/\">Elm Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-public-transport-company-saptco\/\">Saudi Public Transport Company (Saptco)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/yamama-cement\/\">Yamama Cement<\/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=\"99324\" 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=\"99324\">\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\/08\/03\/almarai-finalizes-sar-1-bn-takeover-of-pure-beverages\/\">\r\n                            Almarai finalizes SAR 1 bn takeover of Pure Beverages                        <\/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\/08\/03\/almarai-finalizes-sar-1-bn-takeover-of-pure-beverages\/\" 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 acquisition follows Almarai inking a share purchase agreement with PBIC\u2019s owner <a target=\"_blank\" href=\"https:\/\/ajlanbros-holding.com\/#\" style=\"\" rel=\"noopener\">Ajlan & Bros Holding Group<\/a> to obtain its full stake <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1f9762f0-f500-4310-bb21-a0d7e56be3b8\" style=\"\" rel=\"noopener\">in June<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> The acquisition plays into Almarai\u2019s plans to grow its beverage portfolio, boost consumer offerings and maximize shareholder value as part of the firm\u2019s growth strategy, the filing read. It also places the dairy giant among the Kingdom\u2019s top four players in the fast-growing water bottling market alongside Nova, Safa Makkah Water and Aquafina.<\/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>Ataa sells training acade<\/strong><strong>my to Qiyam: <\/strong>Ataa Educational Company, via its subsidiary Arabian Education and Training Group Holding Company, inked an agreement to sell its Al-Faisal International Academy for Training branch to Qiyam Real Estate Company for SAR 40 mn, it said in a disclosure to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=89117&anCat=1&cs=4292&locale=en\" style=\"\" rel=\"noopener\">Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds: <\/strong>Funds from the sale will be used to enhance the Ataa Educational\u2019s financial position and operational liquidity as part of its strategy to divest from the training sector and focus on its core education business.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">STARTUP WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi-backed D-GN secures funding:<\/strong> Decentralized data-labeling platform <a target=\"_blank\" href=\"https:\/\/dataguardians.xyz\" style=\"\" rel=\"noopener\">Data Guardians<\/a><a target=\"_blank\" href=\"https:\/\/dataguardians.xyz\" style=\"\" rel=\"noopener\">Network<\/a> (D-GN) raised USD 5 mn in a pre-seed round backed by Hamoud Al Rumayan<strong> (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/hamoud-o-al-rumayan-04896914\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>)<\/strong>, <a target=\"_blank\" href=\"https:\/\/droppgroup.xyz\" style=\"\" rel=\"noopener\">droppGroup<\/a> and <a target=\"_blank\" href=\"https:\/\/hubculture.com\" style=\"\" rel=\"noopener\">Hub Culture<\/a>, the company said in a post on <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/data-guardians-network_were-proud-to-announce-that-we-have-closed-activity-7356656049510096896-bnA3?utm_source=share&utm_medium=member_desktop&rcm=ACoAADKzrWYB_Vh_KTSGtQ4AAAAhQQSbfVysFkc\" style=\"\" rel=\"noopener\">LinkedIn<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds:<\/strong> The funding will help D-GN expand its global operations, grow its contributor base, and build out its multimodal data pipelines, <a target=\"_blank\" href=\"https:\/\/jawlah.co\/40201\" style=\"\" rel=\"noopener\">Jawlah<\/a> reports. The company also aims to integrate more closely with AI firms that rely on ethically sourced, high-quality training data. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About D-GN: <\/strong>The platform provides AI companies with training data generated by contributors from around the world. Workers perform tasks like image classification or voice annotation and receive rewards in USDT.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FINANCIAL SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/hamahcapital.sa\/about.php\" style=\"\" rel=\"noopener\">Hamah<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/hamahcapital.sa\/about.php\" style=\"\" rel=\"noopener\">Capital<\/a><\/strong><strong> is now licensed to give advising consultancy in the securities business<\/strong>, following the completion of business requirements commencements, the Capital Market Authority (CMA) said in a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3845.aspx\" style=\"\" rel=\"noopener\">statement<\/a> on Thursday.<\/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 Ports Authority (Mawani) added Goodrich\u2019s RSX1shipping service to<\/strong><strong> Jeddah <\/strong><strong>Islamic Port<\/strong>, linking it to three regional ports, it said in a <a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=10825\" style=\"\" rel=\"noopener\">statement<\/a>. The new service \u2014 with a capacity of 720 TEUs \u2014 will connect Jeddah with Port Sudan, Djibouti Port in Djibouti, and Jebel Ali Port in the UAE. <\/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\/almarai\/\">Almarai<\/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\/capital-market-authority-cma\/\">Capital Market Authority (CMA)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fb\/\">F&amp;B<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hamah-capital\/\">Hamah Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-ports-authority-mawani\/\">Saudi Ports Authority (Mawani)<\/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=\"99326\" 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=\"99326\">\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\/08\/03\/mena-pe-activity-cools-down-in-1h-2025-but-its-mostly-good-news-amid-signs-of-a-maturing-market-magnitt\/\">\r\n                            MENA PE activity cools down in 1H 2025 \u2014 but it\u2019s mostly good news amid signs of a maturing market -Magnitt                        <\/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\/08\/03\/mena-pe-activity-cools-down-in-1h-2025-but-its-mostly-good-news-amid-signs-of-a-maturing-market-magnitt\/\" 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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This is the third consecutive half-year of cooling PE activity in the region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>General partners are adopting a more risk-averse stance,<\/strong> pivoting toward fewer, higher conviction transactions on scale-ready platforms with strong fundamentals, according to the report. This explains why the y-o-y drop in PE transaction value is less significant than the decline in volume. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PE transactions in the region skewed larger<\/strong>, with the two biggest size brackets hitting five-year highs in 1H. Transactions in the USD 500 mn to 1 bn range accounted for 29% of total volume, and 42% of total value, while those over USD 1 bn comprised 14% of the count and 36% of the overall value. Smaller buyouts (under USD 50 mn) fell to a record low of 14%, while the USD 100-500 mn bracket nearly doubled y-o-y to 29% of total PE activity by count, and 18% by value. The report does not provide comparative figures for 1H 2024, only the whole of 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The slowdown reflects a strategic recalibration in the region\u2019s PE market rather than a <\/strong><strong>retreat. <\/strong>\u201cThe MENA region\u2019s PE recalibration is being led by scale-ready SMEs and high-conviction strategies, not withdrawal. The growing dominance of USD 100 mn+ transactions signals a maturing landscape ready to absorb larger pools of capital,\u201d Magnitt Research Department Manager Farah El Nahlawi said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1820.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> accompanying the report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth capital and buyout transactions were nearly evenly split in 1H<\/strong>, with growth transactions slipping to 52% of total activity as buyouts gained ground despite tighter credit markets, El Nahlawi told EnterpriseAM. The trend points to investors favoring plays where they can take a more hands-on role in operations and actively drive value creation, aiming for exits via trade sales or strategic mergers, she added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART-<\/strong> Growth transactions involve minority investments in established but expanding companies, providing capital to fuel new markets, products, or acquisitions without taking control. Investors rely primarily on the company\u2019s organic growth for returns, with exits typically via IPOs or secondary sales. Buyouts, by contrast, involve acquiring a majority or full stake, often using leverage to gain operational control, drive restructuring or efficiency improvements, and create value through active ownership. While growth transactions are about accelerating expansion, buyouts are about taking charge to unlock value and position the business for strategic sales or mergers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The period also saw a rise in syndicated transactions<\/strong>, with four of the top five PE plays involving co-investments between local and international investors. These co-investments are enabling deeper due diligence, better risk-sharing, and stronger operational oversight, El Nahlawi said. She explained that partnerships between global funds and local players are leading to tighter valuation discipline and more sophisticated transaction terms, including performance-linked earnouts and tiered exit provisions, as foreign investors balance protection with access to local market expertise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This trend is likely to continue<\/strong>, with more structured transactions with performance-based earnouts or tiered exit mechanisms, as \u201cglobal funds seek protection while leaning on local expertise to navigate the region\u2019s complexity,\u201d El Nahlawi added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KSA bucks the PE downturn: <\/strong>Combined, Saudi Arabia and the UAE captured 86% of all private equity activity in the region. KSA was home to 13 transactions in the first half of the year, up 8% y-o-y, accounting for the lion\u2019s share (45%) of total activity in the region, supported by local investor appetite. The UAE recorded 12 transactions (41%) over the same period, down 25% y-o-y, with more capital flowing in from international buyers. Egypt (down 89%) and Jordan (down 50%) each saw one transaction in 1H. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sustainability and fintech emerged as standout sectors in 1H<\/strong>, with sustainability-related transactions accounting for 57% of disclosed funding, fueled by large transactions tied to energy transition initiatives, El Nahlawi told us. These sectors combine scale potential with strong alignment to regional policy priorities, making them prime targets under today\u2019s selective capital deployment, she said. SMEs outside this scale-ready bracket face a widening funding gap, as smaller ventures without clear exit routes or policy backing may struggle to draw investor interest unless supported by accelerators, development funds, or niche positioning, she added.<\/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\">10,920<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: -9.3%)<\/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\">1,410<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">116<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: -14.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.0% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3,496<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: +13.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,317<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: +9.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6,112<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: +18.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P 500 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,238<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.6% (YTD: +6.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,069<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: +11.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,166<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.9% (YTD: +5.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 69.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.8%<\/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>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 3.08<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3,400<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.5%<\/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 112,887<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width: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: +20.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Sukuk\/bond market index<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">912.32<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-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\">147.17<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +5.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.38<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+21.9% (YTD: +17.5%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI <\/strong>rose 0.1% <strong>on Thursday<\/strong> on turnover of SAR 4.4 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> Sport Clubs (+10.0%), Albabtain (+5.0%) and Bupa Arabia (+4.3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>SSP (-4.0%), YC (-3.8%) and HB (-3.2%).<\/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 0.4% <strong>on Thursday<\/strong> on turnover of SAR 26.4 mn. The index is down 14.5% 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> Asas Makeen (+8.8%), NBM (+7.2%) and Fadeco (+5.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Almohafaza for Education (-11.1%), MOLAN (-9.3%) and Leaf (-8.9%).<\/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:\/\/www.epcco.com.sa\/\" style=\"\" rel=\"noopener\">Eastern Province Cement<\/a><\/strong><strong> will distribute SAR 51.6 mn in dividends for 1H 2025 at <\/strong><strong>SAR <\/strong><strong>0.60 per share<\/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=89148&anCat=1&cs=3080&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The distribution date is set for 11 September.<\/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.mc4.com.sa\/\" style=\"\" rel=\"noopener\">Fourth Milling<\/a><\/strong><strong>\u2019s board greenlit<\/strong><strong> the distribution of SAR 59.4 mn in interim cash dividends <\/strong><strong>for 1H 2025 at SAR 0.11 per<\/strong><strong> share<\/strong>, starting 4 September, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=89136&anCat=1&cs=2286&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.extra.com\/en-sa\/\" style=\"\" rel=\"noopener\">United Elec<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.extra.com\/en-sa\/\" style=\"\" rel=\"noopener\">tronics Company<\/a><\/strong><strong>\u2019s (eXtra) board approved a SAR 160 mn dividend payout at <\/strong><strong>SAR 2 a piece<\/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=89125&anCat=1&cs=4003&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> on Thursday. The distribution date is set for 14 August.<\/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\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/private-equity\/\">private equity<\/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=\"99328\" 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\/08\/03\/99328\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99328\" class=\"content-area-description single-story post-99328 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: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 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>10 <\/span><span>July (Sunday): Deadline for businesses subject to withholding tax to file their June tax returns via Zatca\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/en\/eServices\/Pages\/eServices_066.aspx\" style=\"\">website<\/a><\/span><span>.<\/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>11-12 Augu<\/span><span style=\"font-weight:400;\">st (Monday-Tuesday): Monsha\u2019at\u2019s Jadeer Tour in Khobar, SME Support Center, Khobar.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>31 <\/span><span style=\"font-weight:400;\">July (Sunday): Deadline for businesses subject to VAT to file their July tax returns.<\/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 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 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 (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>7-9 December (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.comotionglobal.com\/\" style=\"\">CoMotion Global 2025<\/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 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>Growth to remain strong until 2028 -S&#038;P | Acwa Power-led projects get funding | Rawabi Marketing to list on Nomu | Acwa &#038; Elm post earnings.<\/p>\n","protected":false},"featured_media":99306,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-99305","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d80b3500-c922-484e-99fd-f43b0f3bedaf","teaser":"Growth to remain strong until 2028 -S&P | Acwa Power-led projects get funding | Rawabi Marketing to list on Nomu | Acwa & Elm post earnings.","photo_url":"https:\/\/ent.news\/2024\/4\/561.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>GDP expands in 2Q on robust non-oil growth, while budget deficit narrows - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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