{"id":94847,"date":"2025-03-02T00:00:00","date_gmt":"2025-03-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/"},"modified":"2025-03-02T00:00:00","modified_gmt":"2025-03-02T00:00:00","slug":"pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/","title":{"rendered":"PwC banned from advisory contracts with PIF? + Lebanon looks to reactivate military aid package from Saudi"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, ladies and gents<\/strong>. We welcome the second day of Ramadan with a brisk issue, which bodes well for the first couple of mornings without coffee.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leading this morning\u2019s news well: <\/strong>Umm Al Qura for Development prices IPO at SAR 15, standing to rake in SAR 2 bn in proceeds in Tadawul\u2019s biggest listing so far in 2025. Also: PIF eyes stake in aerostructure unit of Italy\u2019s Leonardo, and SNB offloads SAR 3.4 bn mortgage portfolio to Saudi Real Estate Refinance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When do we eat?<\/strong> Maghrib is at 5:56 pm today in Riyadh. You\u2019ll have until fajr prayers at 4:56 am tomorrow to finish your sohour.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Expect a windy day in Makkah, Madinah, and parts of Riyadh and the coastal areas, with a chance of rainfall on Jazan.<\/p>\n<ul>\n<li><strong>Riyadh:<\/strong> 21\u00b0C daytime \/ 8\u00b0C overnight<\/li>\n<li><strong>Makkah:<\/strong> 33\u00b0C daytime \/ 20\u00b0C overnight<\/li>\n<li><strong>Madinah:<\/strong> 25\u00b0C daytime \/ 10\u00b0C overnight<\/li>\n<\/ul>\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>Riyadh <\/strong><strong>transport hours during Ramadan:<\/strong> The Riyadh Metro will run during Ramadan from Sunday to Thursday between 8 am and 2am, on Fridays from 12pm-3am, and on Saturdays from 10am-2 am. Meanwhile, Riyadh buses will operate daily from 6:30am-3am, Riyadh Public Transport said in a <a target=\"_blank\" href=\"https:\/\/x.com\/RiyadhTransport\/status\/1895158454953623853\" style=\"\" rel=\"noopener\">post on X<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sar.com.sa\/\" style=\"\" rel=\"noopener\">S<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sar.com.sa\/\" style=\"\" rel=\"noopener\">audi Arabia Railways (SAR)<\/a><\/strong> <strong> will increase the Haramain High-Speed Train\u2019s daily <\/strong><strong>trips by 21% to 3.4k and available seats by <\/strong><strong>18% to 1.6 mn during Ramadan<\/strong>, SAR said in a <a target=\"_blank\" href=\"https:\/\/x.com\/SARSaudiRailway\/status\/1895056574470574353\" style=\"\" rel=\"noopener\">post on X<\/a>. SAR will offer 100 trips per day during the first week of Ramadan, rising to 120 by the 14th of the holy month and 130 during peak days. The 25 high-speed trains h will travel along a 453 km line connecting Makkah, Madinah, Jeddah, King Abdulaziz Airport, and King Abdullah Economic City.<\/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>The next round of e-invoicing<\/strong><strong>:<\/strong> Companies that recorded more than SAR 1.3 mn in revenues subject to VAT in 2022, 2023, or 2024 will need to integrate their e-invoicing solutions with Zatca\u2019s Fatoora platform by 30 November, according to <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1353.aspx\" style=\"\" rel=\"noopener\">a statement from Zatca<\/a>. This is the latest phase of an e-invoicing rollout that began in late 2021.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <a id=\"wwtt1\"><\/a> <\/strong><strong>The Pu<\/strong><strong>blic<\/strong><strong> Investment Fund (PIF) is reportedly banning PwC from securing advisory and <\/strong><strong>consulting contracts from the fund and its subsidiaries until February 2026<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-02-28\/saudi-wealth-fund-blocks-pwc-from-advisory-work-for-one-year\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources it says are in the know. The one-year ban does not apply to PwC\u2019s auditing services, according to Bloomberg\u2019s sources. The reason for the ban remains unclear, with the business information service saying that the PIF \u201cdid not explain reasons behind the move in messages sent to its portfolio companies.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The move comes two years after PwC set up its regional headquarters in Saudi Arabia, where it employs over 2k people. Saudi Arabia holds the largest consulting market in the region, valued at some USD 3.2 bn in 2023 \u2014 an 18.2% increase from 2022 \u2014 according to <a target=\"_blank\" href=\"https:\/\/www.al-monitor.com\/originals\/2025\/02\/saudi-arabias-pif-bans-pwc-advisory-consulting-services-what-know\" style=\"\" rel=\"noopener\">Al Monitor<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> <\/strong><strong>Lebano<\/strong><strong>n looks to reactivate USD 3 bn military aid from Saudi: <\/strong>Lebanon\u2019s President Joseph Aoun will request the reactivation of a USD 3 bn aid package to the Lebanese army when he visits the Kingdom next week, the president said in an interview with Asharq <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=_e-bDrNi7FQ\" style=\"\" rel=\"noopener\">(watch, runtime: 47:53)<\/a>. The aid was halted in 2016 after Beirut <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/world\/saudi-arabia-halts-3-billion-package-to-lebanese-army-security-aid-idUSKCN0VS1K7\/\" style=\"\" rel=\"noopener\">failed to condemn attacks<\/a> on Saudi diplomatic missions in Iran.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi-Lebanese relations back on track? <\/strong>Foreign Minister Faisal Bin Farhan visited Lebanon in January, marking the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/89cc0123-13fa-4c82-8aff-f1a0a9566edf\/bin-farhan-pays-visits-to%253cmark%253e-lebanon%253c%2Fmark%253e-and-syria\" style=\"\" rel=\"noopener\">first visit by a Saudi FM to the country in 15 years<\/a>. Earlier that month, a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/dd56792a-8744-4fbf-b157-ba98a16231d7\/lebanese-presidential-election-pushed-through-by-saudi-shuttle-diplomacy--cnn\" style=\"\" rel=\"noopener\">\u201clast minute push\u201d<\/a> by the Kingdom was reportedly the deciding factor in Aoun\u2019s pick as Lebanon\u2019s new president.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>The In<\/strong><strong>dustry and Mineral Resources Ministry issued 1.3k new industrial licenses in 2024<\/strong>, with combined investments of more than SAR 50 bn, it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/mimgov\/status\/1895039923071107284\" style=\"\" rel=\"noopener\">post on X<\/a>. Meanwhile, some 1.1k factories with investments worth north of SAR 48 mn became operational throughout the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> #2- <\/strong><strong>Saudi national airlines <\/strong><strong>have collectively placed aircraft orders<\/strong><strong> exceeding USD <\/strong><strong>100 bn <\/strong><strong>at list prices<\/strong>, Flynas\u2019 CEO Bandar Al Mohanna told <a target=\"_blank\" href=\"https:\/\/english.aawsat.com\/business\/5117330-saudi-banks-poised-benefit-local-aircraft-deals-surpass-100-billion\" style=\"\" rel=\"noopener\">Asharq Al Awsat<\/a>, without specifying the timeframe. Al Mohanna sees these orders as an important prospect for local banks to provide financing solutions for airlines.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Air traffic across Saudi airports increased <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/85d0e443-eb10-4ffc-ab5a-8f37d7ad73f8\" style=\"\" rel=\"noopener\">15% y-o-y to 128 mn passengers in<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/85d0e443-eb10-4ffc-ab5a-8f37d7ad73f8\" style=\"\" rel=\"noopener\">2024<\/a>. The Kingdom\u2019s airports also saw 11% y-o-y growth in flight numbers to 905k during the same period, with a 16% y-o-y rise in air connectivity to 170 global destinations.<\/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>Some<\/strong><strong> 81.6% of those aged 15 years and above have attended at least one cultural event<\/strong><strong> or venue in 2024<\/strong>, while 85.3% attended at least one entertainment event or activity, according to the Household Culture and Entertainment <a target=\"_blank\" href=\"https:\/\/www.stats.gov.sa\/documents\/20117\/2435273\/Household+Culture+and+Entertainment+Statistics+Publication+2024.pdf\/07c0afd5-28f6-a89a-563e-757165d10500?t=1740637566410\" style=\"\" rel=\"noopener\">survey<\/a>. The majority of the population (86.1%) spend their down time playing sports or engaging in entertainment activities, with walking cited as the most popular leisure activity (66.1%), followed by football (17.6%). Some 65.8% of respondents said they visited parks and gardens during the year, while literary gatherings and poetry evenings were cited as the least-visited cultural activities (2.5%). <\/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><a id=\"wwtt4\"><\/a> <\/strong><strong>Aramco <\/strong><strong>expected to lower April Arab Light Crude price for Asia:<\/strong> Aramco may cut the April official selling price (OSP) for Arab Light crude to Asia by c. USD 0.20 to USD 0.65 \/ bbl, according to a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/saudi-arabia-may-lower-april-oil-prices-asia-2025-02-28\/\" style=\"\" rel=\"noopener\">Reuters<\/a> survey of four Asian refining sources. The pricing would place it at a premium of USD 3.25-3.70 \/ bbl over Oman\/Dubai, down from USD 3.90 in March, which was the highest pricing in over a year. A separate Bloomberg survey suggests an average drop of USD 0.10 \/ bbl, though estimates range from a modest USD 0.15 decline to as much as USD 1 \/ bbl, according to <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/power\/72331\/%D8%A3%D8%B1%D8%A7%D9%85%D9%83%D9%88-%D8%AA%D8%AA%D8%AC%D9%87-%D9%84%D8%AE%D9%81%D8%B6-%D8%B3%D8%B9%D8%B1-%D8%A7%D9%84%D8%AE%D8%A7%D9%85-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A-%D8%A7%D9%84%D8%AE%D9%81%D9%8A%D9%81-%D8%A8%D8%B9%D8%AF-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D9%85%D8%A7%D8%B1%D8%B3\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The March OSPs for other Saudi crude grades are also expected to decline<\/strong>, with Arab Extra Light and Arab Medium projected to have a drop of at least USD 0.65 \/ bbl, while Arab Heavy is expected to fall between USD 0.10-0.65 \/ bbl, Reuters said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Opec+ has been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b52f21e2-9d2c-49da-b772-6748c67d7f80\/aiib-mulls-investments-in-gulf-rail-connection-project-%2B-fii-priority-summit-tomorrow#:~:text=Is%20Opec%2B%20mulling%20another%20delay%20of%20supply%20hikes%3F%20Opec%2B%20is%20mulling%20another%20delay%20of%20a%20series\" style=\"\" rel=\"noopener\">mulling<\/a> another delay of a series of monthly supply increases that are set to begin in April, with some fearing that global markets are too unstable to absorb a production increase. This would mark the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/769fe009-9ca8-453b-9cb0-509698b007f8\/riyadh-air-wants-more-widebody-jets-from-boeing-%2B-airbus\" style=\"\" rel=\"noopener\">fourth time<\/a> that the group has decided to put off the roll back of production caps which first came into effect in 2022.<\/p>\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Australia walked away with the AFC U-20 Asian Cup after S<\/strong><strong>audi Arabia lost 5-4 in a<\/strong><strong> penalty shootout<\/strong> in the final match yesterday following a 1-1 draw, according to <a target=\"_blank\" href=\"https:\/\/x.com\/afcasiancup\/status\/1895844373394301002\" style=\"\" rel=\"noopener\">a post on X<\/a>.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> and  <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">climate<\/a>  industries?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We could see the first phase of the Gaza ceasefire extended <\/strong>after Israel approved a US-brokered proposal. The agreement \u2014 pushed by Trump\u2019s Mideast envoy Steve Witkoff \u2014 would see the first phase of the ceasefire agreement \u2014 which was supposed to end last night \u2014 extend through Ramadan and Passover (which ends on April 20). The extension would also see Hamas releasing half of the Israeli hostages held on the first day of its implementation. The rest would be released following an agreement on a permanent ceasefire. Israel has reserved the right to resume fighting after passover if negotiations to reach a permanent agreement stall. Hamas has so far rejected Israel\u2019s proposed extension of the current truce but has yet to comment on Witkoff\u2019s plan. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-01\/israel-accepts-us-proposal-for-ramadan-truce-pm-s-office?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-agrees-us-plan-temporary-ceasefire-gaza-pms-office-says-2025-03-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-palestinians-hamas-war-news-03-01-2025-943564ec594b1246c7690d2560a65498\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2025\/03\/01\/europe\/gaza-ceasefire-ends-israel-hamas-intl\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Before Israel accepted the proposal<\/strong>, Hamas had already rejected Israel\u2019s attempt to extend the first phase of the agreement by six weeks, insisting on the second phase coming into effect with Israel completely withdrawing its troops. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-01\/hamas-rejects-first-phase-truce-extension-proposed-by-israel\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2025\/mar\/01\/gaza-ceasefire-talks-stall-as-egypt-proposes-long-term-reconstruction-plan\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2025\/03\/01\/israel-hamas-war-talks-ceasefire-expire\/\" style=\"\" rel=\"noopener\">Washington Post<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- The aftermath of Trump and Zelenskiy\u2019s meeting is making headlines: <\/strong>Ukrainian President Volodymyr Zelenskiy\u2019s high-stakes White House meeting with Donald Trump over the weekend unraveled into a public spectacle, leaving Ukraine scrambling for support. Trump dismissed Zelenskiy\u2019s pleas for security guarantees, telling him to \u201ccome back when he is ready for peace,\u201d hinting US aid could dry up entirely. Trump told reporters, \u201cEither we\u2019re going to end it or let him fight it out. And if he fights it out, it\u2019s not going to be pretty, because without us, he doesn\u2019t win.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What happened next: <\/strong>\u201cWe are very grateful to the United States for all the support. I\u2019m thankful to President Trump, Congress for their bipartisan support, and American people. Ukrainians have always appreciated this support, especially during these three years of full-scale invasion,\u201d Zelenskiy said in a <a target=\"_blank\" href=\"https:\/\/x.com\/ZelenskyyUa\/status\/1895793386990551336\" style=\"\" rel=\"noopener\">post on X<\/a>. In a long thread, he mentioned how Ukraine and the US remain strategic partners \"despite the tough dialogue\u201d and that \"it will be difficult without the US support.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>European leaders rushed to contain the fallout<\/strong>, with UK Prime Minister Keir Starmer reaffirming Britain\u2019s \u201cfull\u201d backing and sealing a GBP 2.26 bn loan for Ukraine\u2019s military. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/ukraines-zelenskiy-meet-uk-pm-starmer-saturday-2025-03-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cvgeqr0vg0no\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-02-28\/zelenskiy-s-blowup-with-trump-leaves-allies-facing-disaster\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2025\/03\/01\/us\/trump-zelensky-news\" style=\"\" rel=\"noopener\">New York Times<\/a>)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS: Aircraft orders from national airlines exceed USD 100 bn -Flynas CEO<\/p>\n","protected":false},"author":1,"featured_media":94848,"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":[10,481,3506,1151,786,4055,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam-ksa","tag-flynas","tag-lebanon","tag-public-investment-fund-pif","tag-pwc","tag-saudi","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"977dcf09-1dee-47d7-9bbe-622600de9fa6","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/3\/46.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: PwC banned from advisory contracts with PIF? + Lebanon looks to reactivate military aid package from Saudi","related_issue":[94845],"teaser":"PLUS: Aircraft orders from national airlines exceed USD 100 bn -Flynas CEO","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.2ac7d606-1f7c-4d44-a7f6-cbc4b4613599.mp3"},"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>PwC banned from advisory contracts with PIF? + Lebanon looks to reactivate military aid package from Saudi - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PwC banned from advisory contracts with PIF? + Lebanon looks to reactivate military aid package from Saudi\" \/>\n<meta property=\"og:description\" content=\"PLUS: Aircraft orders from national airlines exceed USD 100 bn -Flynas CEO\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-02T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/46.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"PwC banned from advisory contracts with PIF? + Lebanon looks to reactivate military aid package from Saudi\",\"datePublished\":\"2025-03-02T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/\"},\"wordCount\":1566,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/46.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM KSA\",\"flynas\",\"Lebanon\",\"Public Investment Fund (PIF)\",\"PwC\",\"Saudi\",\"WHAT WE\u2019RE TRACKING TODAY\"],\"articleSection\":[\"WHAT WE\u2019RE TRACKING TODAY\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/\",\"name\":\"PwC banned from advisory contracts with PIF? + Lebanon looks to reactivate military aid package from Saudi - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/46.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2025-03-02T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/46.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/46.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"PwC banned from advisory contracts with PIF? + Lebanon looks to reactivate military aid package from Saudi\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"PwC banned from advisory contracts with PIF? + Lebanon looks to reactivate military aid package from Saudi - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/","og_locale":"en_US","og_type":"article","og_title":"PwC banned from advisory contracts with PIF? + Lebanon looks to reactivate military aid package from Saudi","og_description":"PLUS: Aircraft orders from national airlines exceed USD 100 bn -Flynas CEO","og_url":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/","og_site_name":"KSA","article_published_time":"2025-03-02T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/46.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"PwC banned from advisory contracts with PIF? + Lebanon looks to reactivate military aid package from Saudi","datePublished":"2025-03-02T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/"},"wordCount":1566,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/46.jpg?fit=%2C&ssl=1","keywords":["EnterpriseAM KSA","flynas","Lebanon","Public Investment Fund (PIF)","PwC","Saudi","WHAT WE\u2019RE TRACKING TODAY"],"articleSection":["WHAT WE\u2019RE TRACKING TODAY"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/","url":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/","name":"PwC banned from advisory contracts with PIF? + Lebanon looks to reactivate military aid package from Saudi - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/46.jpg?fit=%2C&ssl=1","datePublished":"2025-03-02T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/46.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/46.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/02\/pwc-banned-from-advisory-contracts-with-pif-lebanon-looks-to-reactivate-military-aid-package-from-saudi\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"PwC banned from advisory contracts with PIF? + Lebanon looks to reactivate military aid package from Saudi"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/46.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/46.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/46.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/94847","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=94847"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/94847\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/94845"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/94848"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=94847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=94847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=94847"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=94847"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=94847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}