{"id":88844,"date":"2024-08-20T00:00:00","date_gmt":"2024-08-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/20\/is-al-ahli-closing-in-on-ivan-toney\/"},"modified":"2024-08-20T00:00:00","modified_gmt":"2024-08-20T00:00:00","slug":"is-al-ahli-closing-in-on-ivan-toney","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/20\/is-al-ahli-closing-in-on-ivan-toney\/","title":{"rendered":"Is Al Ahli closing in on Ivan Toney?"},"content":{"rendered":"

Good morning, nice people.<\/strong> We have a meaty but tight issue to get us over the midweek hump today, leading with the Public Investment Fund\u2019s annual report recapping the fund\u2019s performance over the past year and its targets for 2025. <\/p>\n

<\/a> \u26a0\ufe0f WEATHER WARNING- Thunderstorms are expected to hit different parts of the Kingdom<\/strong> through to Thursday<\/strong>, the General Directorate of Civil Defense said in a warning on X<\/a>. Makkah<\/a> is in for the most severe conditions, including heavy rainfall, flash floods, hail, and sandstorms. Meanwhile, Riyadh, Madinah, Baha<\/a>, Asir, and Jazan<\/a> are also forecasted to get varying degrees of rainfall.<\/p>\n

PSA-<\/p>\n

<\/a> #1- Agricultural projects up for grabs in Makkah:<\/strong> The Environment, Water and Agriculture Ministry is offering four agricultural investment projects in Makkah, state news agency SPA<\/a> reported. Prospective investors can bid for the projects on the Furas platform. The deadline for bid submissions is Tuesday, 1 October. <\/p>\n

#2- <\/strong>The Saudi <\/strong>Logistics Academy is now offering a Level 2 Certificate in Procurement and<\/strong> Supply Operations, <\/strong>it said in a post on LinkedIn<\/a>. The four-month program starts on Monday, 2 September. You can apply here<\/a>. <\/p>\n

\n

WATCH THIS SPACE-<\/p>\n

<\/a> #1- Cenomi Retail appoints advisors for potential transaction:<\/strong> Cenomi Retail has tapped Lazar as its financial advisor and AS&H Clifford Chance as counsel on its ongoing discussions with \u201ca leading international fashion retailer regarding a potential significant transaction involving the combination of certain fashion brands,\u201d the company said in a filing to Tadawul<\/a>.<\/p>\n

This is likely part of the exits the retailer has in the pipeline: <\/strong>The company is in the final push of the second wave of the franchise sale program, which will see it divest from three brands, after exiting 16 brands in the previous wave, Cenomi Retail\u2019s newly-minted<\/a> CEO Salim Fakhouri said last week<\/a>. Fakhouri added that \u201cthird wave is about to start with the upcoming sale of five further brands (Charles & Keith, Pedro, Call it Spring, Estee Lauder, and Nine West) which is expected to result in proceeds of valued at SAR 77 mn plus inventory and a decrease of 70 stores in Saudi Arabia.\u201d<\/p>\n

\n

\n

#2- Egypt-based SaaS solutions startup <\/strong>Wfrley<\/a><\/strong> wants to set up shop in Saudi in 4Q 2024<\/strong> to serve the Gulf region<\/strong>, co-founder and CEO Mohammed Korshom told Al Mal<\/a>. The SaaS e-commerce platform provides retailers, supermarkets, and wholesalers with digital solutions for inventory management, logistics, and delivery.<\/p>\n

\n

SPORTS-<\/p>\n

<\/a> FROM THE RUMOR MILL- Ivan Toney seems to be edging closer to a move to Al Ahli<\/strong>, with the Brentford striker sitting out his team\u2019s first Premier League match of the season amid transfer interest, manager Thomas Frank said<\/a> prior to the game. Al Ahli remains in talks with Toney after its GBP 35 mn bid to sign him was rejected, sports journalist Fabrizio Romano separately said in a post on X<\/a>. <\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

***<\/strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about the UAE, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n

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Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on saudi@enterpriseAM.com<\/a>.<\/p>\n

DID YOU KNOW <\/strong>that we also cover Egypt<\/a>, the UAE<\/a>, the MENA logistics<\/a> and climate<\/a> industries?<\/p>\n

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***<\/strong><\/p>\n

\n

THE BIG STORY ABROAD- <\/p>\n

The Democratic National Convention is front and center across the front pages of the <\/strong>international press this morning<\/strong>, as US President Joe Biden passes the torch to his vice president and Democratic presidential candidate Kamala Harris. <\/p>\n

Among those making appearances at the DNC in Chicago:<\/strong> Biden took to the stage to hand off the convention to Harris and her running mate Tim Walz, while a host of other Senate and Congress members, and other political figures also had time on stage. Former presidential candidate Hillary Clinton is also in today\u2019s lineup, while each night of the convention is scheduled to feature a celebrity host. Harris herself also made a surprise on-stage appearance, despite not originally being scheduled to speak today. <\/p>\n

Harris is starting to give shape to her vision as president, starting with plans to raise the <\/strong>corporate tax rate to 28%<\/strong>, partially rolling back a Trump-era decision to slash the tax rate to 21% from 35%. The tax hike would, if implemented, raise USD hundreds of bns that will be necessary to help finance the presidential hopeful\u2019s plans in office. (Reuters<\/a> | Bloomberg<\/a> | Financial Times<\/a> | CNBC<\/a> | Politico<\/a> | Wall Street Journal<\/a> | Washington Post<\/a> | New York Times<\/a>)<\/p>\n

MEANWHILE- Israeli Prime Minister Benjamin Netanyahu has accepted a \u201cbridge<\/strong> proposal\u201d for a ceasefire<\/strong> in Israel\u2019s war on Gaza, US Secretary of State Antony Blinken told reporters yesterday, according to a readout of his remarks<\/a>. Blinken urged Hamas to accept the proposal, citing \u201cfierce urgency\u201d to reach an agreement between the two sides to prevent further bloodshed and destruction. (Reuters<\/a> | New York Times<\/a> | Financial Times<\/a> | Bloomberg<\/a>)<\/p>\n

Blinken is heading to Cairo next, where he is <\/strong>expected<\/a><\/strong> to land today<\/strong> to discuss next steps on the ceasefire talks between Israel and Hamas. Blinken will fly from Israel as part of a four-day trip that marks his ninth visit to the region since Israel\u2019s war on Gaza began. <\/p>\n

REMEMBER- <\/strong>Senior government officials from Egypt, Qatar, and the US are set to reconvene<\/a><\/a>in Cairo<\/a> before the end of the week in a bid to finalize an agreement based on the proposal presented in Doha last week.<\/p>\n

SPEAKING OF BLINKEN-<\/strong> Foreign <\/strong>Minister Faisal bin Farhan and Blinken discussed<\/strong> regional developments in a phone call on Sunday<\/strong>, the Foreign Ministry said on X<\/a>. The pair reviewed ongoing efforts to end the war in Gaza, as well as updates to developments in Sudan and Yemen. The call came before Blinken landed in Tel Aviv to meet with Prime Minister Benjamin Netanyahu and other Israeli officials to push for a ceasefire. <\/p>\n

\n

CIRCLE YOUR CALENDAR-<\/p>\n

The EFG Hermes London Conference returns: <\/strong>EFG Hermes will hold its annual conference in London on 9-12 September, giving investors \u201cunique and unparalleled access to leading equities in MENA and key frontier emerging markets.\u201d <\/p>\n

The <\/strong>Crown Prince Camel Festival<\/a><\/strong> runs until Tuesday, 10 September at the Taif Camel <\/strong>Racing Track<\/strong>, featuring 610 rounds of racing and a purse of SAR 56 mn.<\/p>\n

The <\/strong>New Global Sport Conference 2024<\/a><\/strong> is happening on Saturday and Sunday, 24-25<\/strong> August<\/strong>, bringing together top figures from sports, esports, gaming, entertainment, and technology. This year\u2019s theme is the Future of Fandom, highlighting fans\u2019 role in building brand equity and revenue. <\/p>\n

The eight-week <\/strong>Esports World Cup<\/a><\/strong> runs until Sunday, 25 August Riyadh\u2019s Boulevard<\/strong> City<\/strong>. The world\u2019s top esports clubs are competing for a pool of USD 60 mn \u2014 the largest purse in esports.<\/p>\n

The two-day <\/strong>Kingdom Business and Luxury Travel Congress<\/a><\/strong> will kick off on Wednesday,<\/strong> 25 September<\/strong>, at the Crowne Plaza Riyadh RDC Hotel and Convention.<\/p>\n

The three-day <\/strong>Global Logistics Forum<\/a><\/strong> will kick off on Saturday, 12 October<\/strong> at Riyadh\u2019s King Abdullah Financial District. <\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: Cenomi Retail moves forward with franchise sale program<\/p>\n","protected":false},"author":1,"featured_media":88845,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2540],"tags":[478,3052,605,10,8,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-agriculture","tag-al-ahli","tag-cenomi-retail","tag-enterpriseam-ksa","tag-sports","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"c4239730-456e-4206-9500-7afa0f0557f6","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/8\/1758.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: Is Al Ahli closing in on Ivan Toney?","related_issue":[88842],"teaser":"PLUS: Cenomi Retail moves forward with franchise sale program","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.d3198986-059b-409a-975b-bfef58de0923.mp3"},"yoast_head":"\nIs Al Ahli closing in on Ivan Toney? 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