{"id":89854,"date":"2024-09-24T00:00:00","date_gmt":"2024-09-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/24\/bandar-al-khorayef-kicks-off-us-tour-to-drum-up-investments\/"},"modified":"2024-09-24T00:00:00","modified_gmt":"2024-09-24T00:00:00","slug":"bandar-al-khorayef-kicks-off-us-tour-to-drum-up-investments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/24\/bandar-al-khorayef-kicks-off-us-tour-to-drum-up-investments\/","title":{"rendered":"Bandar Al Khorayef kicks off US tour to drum up investments"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people, and welcome back.<\/strong> We hope you all enjoyed the time off and celebrations for the National Day. We\u2019re back from a four-day weekend with a busy Tuesday issue, including capital markets updates, some investment bits, and the latest on a handful of M&A. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>This year\u2019s EnterpriseAM Finance Forum kicks off in just a few hours<\/strong> at the St. Regis Cairo on the banks of the Nile. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taking the stage at the forum this year is Egyptian Investment Minister Hassan El Khatib<\/strong>, who\u2019s joining us to outline a vision for where Egypt is going as a community and as an economy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a target=\"_blank\" href=\"https:\/\/finance2024.enterprise.news\/#agenda\" style=\"\" rel=\"noopener\"><\/a> <strong><a target=\"_blank\" href=\"https:\/\/finance2024.enterprise.news\/#agenda\" style=\"\" rel=\"noopener\">You can tap or click here to view the agenda<\/a><\/strong><a target=\"_blank\" href=\"https:\/\/finance2024.enterprise.news\/#agenda\" style=\"\" rel=\"noopener\"><\/a> and full list of speakers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"http:\/\/finance2024.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1659.jpg?ssl=1\"\/><\/a> <\/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>Industry and Mineral Resources Minister Bandar Alkhorayef is in the US as<\/strong><strong> part of a trip to drum up <\/strong>investments in the Kingdom and kick the tires on potential cooperation in meetings with business leaders and government officials, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2175987\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reports. The minister landed in the US yesterday for the trip, which will take him to New York, California, and Nevada through to this Saturday, 28 September. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The minister <\/strong><strong><a target=\"_blank\" href=\"https:\/\/x.com\/BAlkhorayef\/status\/1838330227769987296\" style=\"\" rel=\"noopener\">met yesterday with business leaders<\/a><\/strong><strong> in New York<\/strong> to pitch them on investing in Saudi\u2019s mining and manufacturing sectors, in addition to paying a <a target=\"_blank\" href=\"https:\/\/x.com\/BAlkhorayef\/status\/1838341843282727305\" style=\"\" rel=\"noopener\">visit to the New York Stock Exchange<\/a>, where he was briefed on best practices in tech infrastructure. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO ON THE AGENDA:<\/strong> In Las Vegas, the minister is scheduled to attend the <a target=\"_blank\" href=\"https:\/\/www.minexpo.com\/\" style=\"\" rel=\"noopener\">MINExpo<\/a> to explore advanced mining technologies. In Los Angeles, he will attend a roundtable with major US companies to discuss the national industrial strategy and incentives for foreign investors. Alkhorayef will also meet with <a target=\"_blank\" href=\"https:\/\/www.jetzero.aero\/\" style=\"\" rel=\"noopener\">Jet Zero<\/a> and <a target=\"_blank\" href=\"https:\/\/www.spacex.com\/\" style=\"\" rel=\"noopener\">SpaceX<\/a> to explore collaboration in aviation and space technologies.<\/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\"><a id=\"wwtt2\"><\/a> \u26a0\ufe0f<strong>WEATHER PSA-<\/strong><strong> We might be seeing flooding<\/strong><strong> in different areas as heavy rain is<\/strong><strong> expected across the Kingdom from today until Friday<\/strong>, the General Directorate of Civil Defense <a target=\"_blank\" href=\"https:\/\/x.com\/SaudiDCD\/status\/1838211156176961993\" style=\"\" rel=\"noopener\">said on X<\/a>. Light to moderate showers will affect Riyadh and surrounding areas, while Makkah will experience moderate to heavy rains, causing torrents and hail in Taif, Maysan, Adham, and Al Ardiyat. Al Baha, Asir, and Jazan will see heavy downpours, while Najran will experience moderate rain. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ON THE TEMPERATURE SIDE- <\/strong>Riyadh\u2019s mercury will hit a high of 39\u00b0C today and a low of 27\u00b0C. Meanwhile, Jeddah will see a high of 36\u00b0C, and a low of 30\u00b0C.<\/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\">PSA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Private sector employers<\/strong> <strong>have until 20 October to benefit from a longer window <\/strong><strong>to apply <\/strong><strong>for employment support: <\/strong>Private sector employers will now have 330 days \u2014 up from 270 \u2014 from adding an employee\u2019s name to the records of the General Organization for Social Ins. (Gosi) to apply for employment support provided they file their submission no later than 20 October, the Human Resources Development Fund <a target=\"_blank\" href=\"https:\/\/hrdf.org.sa\/media-center\/news\/general\/the-human-resources-development-fund-extends-the-allowance-period-for-submitting-employment-support-requests-to-330-days\/\" style=\"\" rel=\"noopener\">(Hadaf) said in a<\/a><a target=\"_blank\" href=\"https:\/\/hrdf.org.sa\/media-center\/news\/general\/the-human-resources-development-fund-extends-the-allowance-period-for-submitting-employment-support-requests-to-330-days\/\" style=\"\" rel=\"noopener\">statement<\/a>. The window for applying for employment support will return to 180 days starting 21 October.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The support helps subsidize wages for new employees as part of ongoing efforts to boost employment in the private sector.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Crown Prince Mohammed bin Salman doubled down on the Kingdom\u2019s position that the <\/strong><strong>establishment of a <\/strong><strong>Palestinian state is a prerequisite for normalizing ties with Israel<\/strong> in a speech to the Shura Council last week (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/asharqnews\/videos\/466459543027203\" style=\"\" rel=\"noopener\">watch, runtime: 14:41<\/a>). \u201cThe Kingdom will not stop its tireless work towards the establishment of an independent Palestinian state with East Jerusalem as its capital, and we affirm that the kingdom will not establish diplomatic relations with Israel without that.\u201d (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-crown-prince-condemns-israels-crimes-against-palestinians-2024-09-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/09\/19\/world\/middleeast\/saudi-israel-relations.html?searchResultPosition=23\" 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>BACKGROUND- <\/strong>Saudi officials have <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/538fa1db-058f-44d5-bcdb-d9ed1a99cf6b\" style=\"\" rel=\"noopener\">have consistently maintained<\/a> that a credible pathway to establishing a Palestinian state is a requirement for the Kingdom to establish diplomatic ties with Israel. This has been a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/29377c2f-7281-43db-aa92-755197a3141d\" style=\"\" rel=\"noopener\">key point of discussion<\/a> throughout the negotiations on the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/dffc352e-c372-4ec5-9d0c-38e721b058fb\" style=\"\" rel=\"noopener\">US-Saudi defense pact<\/a>. The crown prince\u2019s latest comment signals a tougher stance on the issue.<\/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\"><a id=\"wwtt3\"><\/a> <strong>#2- US-based financial advisory <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.lazard.com\/\" style=\"\" rel=\"noopener\">Lazard Inc.<\/a><\/strong><strong> is inching closer towards establishing regional<\/strong><strong> headquarters in Saudi Arabia<\/strong>, after securing a license from the Investment Ministry, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-19\/saudi-arabia-after-goldman-gs-lazard-laz-to-set-up-mideast-hq-in-riyadh\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources with knowledge of the matter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adding to the growing list: <\/strong>Large global investment banks have been drawn in by the Kingdom\u2019s regional headquarters program, with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/abfac736-4b6c-40b4-9b9d-6c7e0d1605a7\" style=\"\" rel=\"noopener\">Goldman Sachs<\/a> and Japan\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/20b26f21-6d1f-4729-948e-3f7806738e84\" style=\"\" rel=\"noopener\">Mizuho<\/a> obtaining licenses to base their MENA operations here. Over <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d72504b9-16e3-4031-83dc-55e93dbdb898\/baker-mckenzie-acquires-majority-stake-in-local-affiliate\" style=\"\" rel=\"noopener\">400 global companies<\/a> across contracting, manufacturing, and tech \u2014 including Boeing and Amazon \u2014 have also obtained the same license from the Investment Ministry. Meanwhile, firms like BlackRock, JPMorgan Chase, Deutsche Bank, and HSBC are ramping up hiring in the Kingdom.<\/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>Aramco Hyundai and Dussur JV, Makin, has completed building c.40% of its engine<\/strong><strong> manufacturing facility<\/strong><strong>, which is set to come online in early 2026<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/09\/20\/article_2750183.html#:~:text=%D8%AA%D9%88%D9%82%D8%B9%D8%AA%20%D8%B4%D8%B1%D9%83%D8%A9%20%D9%85%D9%83%D9%8A%D9%86%20%D8%A7%D9%84%D9%85%D9%85%D9%84%D9%88%D9%83%D8%A9%20%D9%84%D8%AA%D8%AD%D8%A7%D9%84%D9%81,%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A9%20%D9%85%D9%86%20%D8%A7%D9%84%D9%85%D8%AD%D8%B1%D9%83%D8%A7%D8%AA%20%D9%85%D8%B7%D9%84%D8%B9%202026.\" style=\"\" rel=\"noopener\">Al Eqtisadiah<\/a> quoted CEO Bader Al Zaabi as saying at the Saudi Maritime Logistics Conference 2024 in Dammam. The facility plans to churn out 30 large engines for oil tankers and 235 medium-speed engines for smaller ships each year. <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2017\/mou-for-engine-manufacturing-and-supply-collaboration\" style=\"\" rel=\"noopener\">The factory<\/a> is located in the King Salman Maritime Industries Complex in Ras Al Khair. Makin is the first facility in the MENA region focused on marine engines and pumps.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- A consortium of Egyptian, Saudi, and Emirati companies has announced a major <\/strong><strong>industrial merger agreement valued at USD 800 mn<\/strong>, set to be revealed in October, Executive Partner and head of investment banking at <a target=\"_blank\" href=\"https:\/\/www.zillacapital.com\/\" style=\"\" rel=\"noopener\">Zilla Capital<\/a> Moustafa El Shenety told Asharq Business <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/industries\/54453\/%D8%AA%D8%AD%D8%A7%D9%84%D9%81-%D9%85%D8%B5%D8%B1%D9%8A-%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A-%D9%8A%D8%B9%D9%84%D9%86-%D8%B9%D9%86-%D8%B5%D9%81%D9%82%D8%A9-%D8%A7%D9%86%D8%AF%D9%85%D8%A7%D8%AC-%D8%B5%D9%86%D8%A7%D8%B9%D9%8A%D8%A9-%D9%82%D8%B1%D9%8A%D8%A8%D8%A7\/\" style=\"\" rel=\"noopener\">(watch, runtime: 9:30)<\/a>. El Shenety did not provide further details or information on the agreement or the parties involved. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>65 local cinemas have raked in SAR 4.2 bn since they first opened in April 2018<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/09\/21\/article_2750216.html\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/09\/21\/article_2750216.html\" style=\"\" rel=\"noopener\">Eqtisadiah<\/a> reports, citing data from the Film Commission. The first eight months of this year pulled in SAR 618.1 mn, with June recording the highest monthly revenue with SAR 141.7 mn brought in from 2.9 mn tickets sold.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi oil exports hit a one-year low as OPEC+ tightens the tap: <\/strong>The Kingdom's crude oil exports dropped 5.1% m-o-m to <a target=\"_blank\" href=\"https:\/\/www.jodidata.org\/oil\/database\/customisable-charts.aspx#cdSaudi\" style=\"\" rel=\"noopener\">5.7 mn barrels per day (bbl \/ d) in July<\/a>, marking their lowest level since August of last year, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-arabias-crude-oil-exports-july-hit-almost-one-year-low-2024-09-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing data from the Joint Organization Data Initiative.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Earlier this month, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/115e4304-0986-4fde-91e1-a12f7801bcea\" style=\"\" rel=\"noopener\">OPEC+ pulled the brakes<\/a> on its planned 180k oil production hike for October and November, opting for a cautious approach amid waning global demand. The group hinted at a full-on reversal of the hikes, depending on the state of the global oil markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, crude oil production inched up to 8.9 mn bbl \/ d in July from 8.8 mn in June,<\/strong> but with reduced refinery throughput and a surge in direct crude burning, according to OPEC+ data submitted to the Joint Organization. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>The PIF-owned Liv Golf team was given the green light to compete in the PGA<\/strong> <strong>Championship and the US Ryder Cup<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/news.pga.org\/championships-and-events\/pga-of-america-issues-statement-on-liv-golf-player-eligibility\" style=\"\" rel=\"noopener\">statement<\/a>. The story was also picked up by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/golf\/liv-golf-players-eligible-us-ryder-cup-team-pga-america-says-2024-09-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>PIF representatives reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0cdec2a6-2582-45db-a07a-582678178cd4\/%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e%253c%253cmark%253e%253c%2Fmark%253emark%253cmark%253e%253c%2Fmark%253e%253e%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253eliv%253cmark%253e%253c%2Fmark%253e%253c%2F%253cmark%253e%253c%2Fmark%253emark%253cmark%253e%253c%2Fmark%253e%253e-%253cmark%253e%253c%2Fmark%253epga%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253egolf%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253esaga%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eis%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253emaking%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253erounds%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">sat down with PGA officials<\/a> in New York earlier this month to hash out details for player crossovers, with the main point of contention being LIV players\u2019 huge earrings, particularly Jon Rahm\u2019s hefty USD 300 mn contract. Some PGA players were reportedly pushing for LIV defectors to return some of their earnings to the tour, give them out to charity or forfeit future tournament prizes on the PGA tour.<\/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>Italian football manager Stefano Pioli was named the new head coach of Al Nassr<\/strong>, according to the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/athletic\/5773650\/2024\/09\/18\/stefano-pioli-al-nassr\/?searchResultPosition=25&login=google&auth=login-google\" style=\"\" rel=\"noopener\">Athletic<\/a>. He replaces Luis Castro, who was fired last week after securing just one victory and two draws in the team's first three Saudi Premier League matches. Pioli joins Al Nassr from AC Milan, where he led the club to its first Scudetto in 11 years in 2021-22 and reached the Champions League semi-finals in 2022-23.<\/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 Cenomi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> and  <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">climate<\/a>  industries?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Business news is once again taking a backseat, as the global press focuses on Israel\u2019s<\/strong><strong> deadly bombardment of Lebanon<\/strong> that <a target=\"_blank\" href=\"https:\/\/www.barrons.com\/news\/lebanon-says-492-killed-in-israeli-strikes-including-35-children-a7aec73a\" style=\"\" rel=\"noopener\">killed at least 492 and injured over 1.6k<\/a> yesterday \u2014 establishing the grim milestone of being the country\u2019s deadliest day since the end of its civil war in 1990. Roads in southern Lebanon were jam-packed Monday as people <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/terrified-lebanese-families-flee-massive-israeli-bombardment-2024-09-23\/\" style=\"\" rel=\"noopener\">emptied out of the country\u2019s south<\/a> toward Beirut, as Israeli strikes rocked Lebanon\u2019s south, the Bekaa valley, and the capital\u2019s southern suburbs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israeli Prime Minister Benjamin Netanyahu <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/48cb4b4c-b3e0-4785-bbce-5f2810194d77\" style=\"\" rel=\"noopener\">stated<\/a><\/strong><strong> that his government would \u201cchange<\/strong><strong> the security balance, the balance of power in the north\u201d<\/strong> through its assault and \u201celiminating senior figures, terrorists and missiles.\u201d Despite Israel\u2019s claims of undertaking targeted strikes against Hezbollah, 58 women and 35 children were killed yesterday, according to the Lebanese Health Ministry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The strikes have increased concerns about the conflict\u2019s escalation into full-scale <\/strong><strong>regional war<\/strong>, with Iranian president Masoud Pezeshkian <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/united-nations-iran-529d09bced2d3c579df5ab025b467a55\" style=\"\" rel=\"noopener\">accusing<\/a> Israel of attempting to lay traps to lead its longstanding regional foe into a wider war. The US, meanwhile, has said that it is sending additional forces to the region in order to protect its assets, should a wider conflagration break out.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Calls for diplomatic intervention: <\/strong>UN Secretary-General Antonio Guterres registered his <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/live-updates-israel-mounts-airstrikes-hezbollah-lebanon-2024-09-23\/?arena_mid=OG3jnhH2yRDDcHUDYRMf\" style=\"\" rel=\"noopener\">\u201calarm\u201d<\/a> at the escalating situation yesterday, with a UN spokesman telling all parties to \u201cstep back from the brink\u201d of further hostilities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND OVER IN BUSINESS NEWS- <\/strong>F<strong>ourteen of the world\u2019s biggest financial institutions are <\/strong><strong>putting their weight behind nuclear power<\/strong> by <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/96aa8d1a-bbf1-4b35-8680-d1fef36ef067\" style=\"\" rel=\"noopener\">pledging<\/a> to increase their support for nuclear power in a move to help triple global nuclear energy capacity by 2050 \u2014 a goal laid out in COP28. Observers expect that financial institutions\u2019 increasing openness to an energy source once warily regarded as \u201ccontroversial\u201d could prove a boon to a sector that may yet have a big role to play yet in the green transition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- The US Commerce Department <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a04ec57d-38ba-4e1f-8e28-d4c76081900b\" style=\"\" rel=\"noopener\">proposed banning<\/a><\/strong><strong> Chinese software and hardware <\/strong><strong>from US roads yesterday,<\/strong> citing \u201cnational security concerns.\u201d If the regulation goes through, Chinese cars would <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/biden-proposes-banning-chinese-vehicles-us-roads-with-software-crackdown-2024-09-23\/\" style=\"\" rel=\"noopener\">effectively be banned<\/a> from the US market and American and other car manufacturers would be required to strip Chinese software and hardware from their cars sold in the US.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS: The EnterpriseAM Finance Forum gets underway<\/p>\n","protected":false},"author":1,"featured_media":89855,"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":[422,139,2504,3142,3138,1027,3135,10,3134,3137,2852,157,3133,513,3144,3143,269,514,3140,3139,3141,3136,2653,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-al-nassr","tag-aramco","tag-aramco-stadium","tag-arqaam-capital","tag-bandar-bin-ibrahim-alkhorayef","tag-dussur","tag-emmanuel-macron","tag-enterpriseam-ksa","tag-france","tag-human-resources-development-fund-hadaf","tag-hyundai","tag-industry","tag-lazard-inc","tag-liv-golf","tag-makin","tag-nass-corp","tag-normalization","tag-opec-2","tag-pga-championship","tag-pga-of-america","tag-ryder-cup","tag-stefano-pioli","tag-us","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"9d3a20b2-ca10-4253-925f-0fea59c071f5","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/9\/1829.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: Bandar Al Khorayef kicks off US tour to drum up investments","related_issue":[89852],"teaser":"PLUS: The EnterpriseAM Finance Forum gets underway","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.5492cd5b-a8b4-41b7-8d4e-40c48cb2eb5a.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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