{"id":95427,"date":"2025-03-19T00:00:00","date_gmt":"2025-03-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/19\/pif-mulls-issuing-first-eur-denominated-bond-entaj-eyes-gulf-expansion-following-tadawul-debut\/"},"modified":"2025-03-19T00:00:00","modified_gmt":"2025-03-19T00:00:00","slug":"pif-mulls-issuing-first-eur-denominated-bond-entaj-eyes-gulf-expansion-following-tadawul-debut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/19\/pif-mulls-issuing-first-eur-denominated-bond-entaj-eyes-gulf-expansion-following-tadawul-debut\/","title":{"rendered":"PIF mulls issuing first EUR-denominated bond + Entaj eyes Gulf expansion following Tadawul debut"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people<\/strong>. It\u2019s shaping up to be a slow day in the Kingdom as we prepare to enter the final ten days of the holy month. This morning\u2019s news well features Oxford Economics\u2019 forecasts for GCC growth, a new IPO from Service Equipment Company on the Parallel market, and a SAR 4 bn logistics zone in Falcon City.<\/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 6:04pm today in Riyadh. You\u2019ll have until fajr prayers at 4:39am tomorrow to enjoy suhoor.<\/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>Pakistan\u2019<\/strong><strong>s Prime Minister Shehbaz Sharif is visiting Saudi Arabia today for a four-day <\/strong><strong>trip<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/mofa.gov.pk\/press-releases\/curtain-raiser-prime-ministers-visit-to-the-kingdom-of-saudi-arabia\" style=\"\" rel=\"noopener\">statement<\/a> from Pakistan\u2019s Foreign Ministry. Sharif is expected to meet Crown Prince Mohammed bin Salman to discuss bilateral investments, trade, and security.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER-<\/strong> Expect some thunderstorms in Riyadh and Madinah today, while Makkah will see a chance of rain.<\/p>\n<ul>\n<li>Riyadh: 29\u00b0C daytime \/ 18\u00b0C overnight<\/li>\n<li>Makkah: 38\u00b0C daytime \/ 25\u00b0C overnight<\/li>\n<li>Madinah: 33\u00b0C daytime \/ 18\u00b0C overnight <\/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\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong><a id=\"wwtt1\"><\/a> <\/strong><strong>PIF mull<\/strong><strong>s<\/strong><strong> issuing its first EUR-denominated bond: <\/strong>The Public Investment Fund (PIF) is reportedly considering issuing its maiden EUR-denominated bond, with plans to tap onshore US investors for the first time, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-18\/saudi-arabia-s-pif-broadens-quest-for-cash-to-meet-mbs-spending-goals\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources it says are familiar with the matter. The move comes as the PIF looks to limit its dependence on government funding, one of the people said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale: <\/strong>The business news service estimates that the Kingdom will need oil prices to hover around USD 108 a barrel to fund its investments as it braces for a ramp-up in spending ahead of hosting several major global events within the coming decade \u2014 including the FIFA World Cup 2034. The sovereign wealth fund is also limiting the financing of its portfolio companies, nudging them to secure financing from alternative sources, sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>This is in line with the government\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a227c487-b94f-4b57-827f-4d12f96d3464\/%253cmark%253efinmin%253c%2Fmark%253e-approves-sar-139-bn-public-borrowing-plan-for-2025\" style=\"\" rel=\"noopener\">FY 2025 borrowing plan<\/a> that outlines an intention to diversify the borrowing portfolio during the new fiscal year, with plans to expand the creditors base by tapping fresh local and foreign lenders to raise SAR 139 bn and foot a SAR 101 bn budget deficit and SAR 38 bn in maturing loan repayments. In addition, S&P sees the government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d6f2ee3f-ec3b-43f2-8b67-507159c2dc75\/s&p-global-ratings-upgrades-saudi%25e2%2580%2599s-credit-rating-to-a%2B#:~:text=Fiscal%20deficit%3A%20The%20credit%20rating%20agency%20sees%20the%20government%20running%20deficits%20averaging%204.2%25\" style=\"\" rel=\"noopener\">running deficits averaging 4.2% of GDP<\/a> during 2025-2028, on the back of large public investments.<\/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>Entaj eyes Gul<\/strong><strong>f expansion following Tadawul debut:<\/strong> Arabian Company for Agricultural and Industrial Investment (Entaj Foods) plans to expand across the Gulf region, CEO Rajaa Al Harbi told Asharq Business (<a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/74294\/%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D8%A3%D9%86-%D8%AA%D9%83%D9%88%D9%86-%D8%B6%D9%85%D9%86-%D8%A7%D9%84%D9%83%D8%A8%D9%8A%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%AB%D9%84%D8%A7%D8%AB\/\" style=\"\" rel=\"noopener\">watch, runtime: 12:12<\/a>). The poultry producer \u2014 which currently holds a 7.6% market share in the Kingdom \u2014 will start with Kuwait and Bahrain for fresh poultry, while considering other regional markets for frozen products, Al Harbi said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Entaj\u2019s selling shareholder Arabian Agriculture Services (Arasco) raised <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2f93206e-b2c9-494a-9614-bf69e9d6cda6\" style=\"\" rel=\"noopener\">SAR 450 mn<\/a> in proceeds through the sale of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/90354e16-fba7-4823-8f00-e8d742bf3785\" style=\"\" rel=\"noopener\">30% stake<\/a>, which was priced at SAR 50 per share \u2014 the top of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/db7db066-9356-425d-ac5c-f41f4d7d4fa0\" style=\"\" rel=\"noopener\">indicative SAR 46 to 50 range<\/a> it was guiding on \u2014 after its institutional tranche closed at 208.4x oversubscription. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b3ed37d1-f491-4775-9143-c9d31ae7d820\" style=\"\" rel=\"noopener\">first day of trading<\/a> saw the company\u2019s share price jump 30% \u2014 the maximum allowed \u2014 before dropping to SAR 62.30 on yesterday\u2019s close.<\/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=\"wwtt3\"><\/a> Latest updates from<\/strong><strong> Neom\u2019s The Line: <\/strong>Piling work is nearing completion at Module 46 of the Line, Giles Pendleton, COO of The Line said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/giles-pendleton-frics-b83856101_neom-activity-7307378636255387648-Ui1i?utm_source=social_share_send&utm_medium=member_desktop_web&rcm=ACoAADcc9s0BqbX_KIfcdiR9Co3ThUUfykvz4-o\" style=\"\" rel=\"noopener\">Linkedin post<\/a>. He highlighted progress across Modules 45 to 48, with over 5.5k piles per module up to 70m deep and over 3.5 mn cubic meters of concrete in the first phase.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> The Line\u2019s Hidden Marina is set to become the first segment of the smart city to be operational, with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/855289a1-f76b-436b-9500-11f47d71263a\/first-phase-of-the-line%25e2%2580%2599s-hidden-marina-is-moving-forward-%2B-ceer-to-unveil-its-first-car-by-late-2025\" style=\"\" rel=\"noopener\">contractors currently being sought<\/a> for raft foundations tendered in six lots. The 2.5-km long, 500-meter high first phase will be composed of three interconnected modules and is set to house upwards of 200k residents. Neom set a 24 March deadline for firms to submit proposals to undertake the raft foundations of the modules.<\/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>Saudi Ar<\/strong><strong>abia is leading the Middle<\/strong><strong> East in bond and sukuk issuances year-to-date<\/strong> with a 63% market share, Franklin Templeton Chief Investment Officer Mohieddine Kronfol told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/special-stories\/2025\/03\/17\/-%D9%81%D8%B1%D8%A7%D9%86%D9%83%D9%84%D9%8A%D9%86-%D8%AA%D9%85%D8%A8%D9%84%D8%AA%D9%88%D9%86-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B3%D9%8A%D8%B7%D8%B1-%D8%B9%D9%84%D9%89-63-%D9%85%D9%86-%D8%A7%D9%84%D8%A7%D8%B5%D8%AF%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A8%D8%A7%D9%84%D9%85%D9%86%D8%B7%D9%82%D8%A9\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The regional debt issuance market is up 22% y-o-y to USD 48 bn since the start of 2025, with competitive pricing driving the increase, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bucking the trend: <\/strong>While the Middle East market is on the up, the global market has been facing sell-offs triggered by concerns over trade wars and their impact on inflation and economic growth, Kronfol said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Saudi Arabia <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/abfe4a7c-f546-4e5e-9788-adc85378be35\/saudi-arabia-dominates-gcc%253cmark%253e-bond%253c%2Fmark%253e-and-sukuk-issuances-in-2024--markaz\" style=\"\" rel=\"noopener\">dominated<\/a> the GCC bond market in 2024, raising USD 79.5 bn from 79 primary bond and sukuk issuances, a 51.2% y-o-y increase. The Kingdom accounted for 53.7% of the GCC\u2019s total primary issuances volume at USD 147.9 bn in 2024, with Fitch projecting its debt capital market to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/34d70ef9-dd3d-4b19-a7ee-393e6f63ef03\/saudi-debt-capital-market-to-exceed-usd-500-bn-this-year--fitch-ratings\" style=\"\" rel=\"noopener\">top USD 500 bn<\/a> by the end of 2025.<\/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>Jana M<\/strong><strong>edical to list two subsidiaries on Nomu:<\/strong> <a target=\"_blank\" href=\"https:\/\/ipo.janamd.com.sa\/\" style=\"\" rel=\"noopener\">Jana Medical Company<\/a> tapped <a target=\"_blank\" href=\"https:\/\/afaq.co\/ar\" style=\"\" rel=\"noopener\">Afaq<\/a><a target=\"_blank\" href=\"https:\/\/afaq.co\/ar\" style=\"\" rel=\"noopener\">Financial Company<\/a> as a financial advisor to oversee the offering and listing of two subsidiaries, Elite Medical Care and Excellent Care, on the Nomu parallel market, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85847&anCat=1&cs=9616&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. No further details were provided.<\/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>The numbe<\/strong><strong>r of valid mining licenses in Saudi Arabia reached 2.4k at the end of 2024<\/strong>, covering mining, exploration, reconnaissance, and building materials quarries, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2282547\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reports, citing the 2024 Mining Sector Indicators Bulletin.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong>Building materials quarries accounted for the largest share with 1.5k licenses, followed by exploration (642), mining and small mining operations (215), reconnaissance (41), and surplus mineral ore extraction (22).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt4\"><\/a> <\/strong><strong>PIF<\/strong><strong>\u2019s<\/strong><strong> new cricket league hits <\/strong><strong>stumbling block:<\/strong> The England and Wales Cricket Board (ECB) will not be backing the proposed Twenty20 (T20) global cricket league, said Chief Executive Richard Gould to the <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/cricket\/england-board-opposed-saudi-backed-t20-league-idea-2025-03-18\/\" style=\"\" rel=\"noopener\">Sydney Morning Herald<\/a>. \u201cWith the busy international calendar, a host of established franchise leagues around the world, and existing concerns about player workloads, there is no scope or demand for such an idea,\u201d said Gould.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong>The Kingdom is reportedly prepared to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9157a3d4-da37-48e1-8cd6-cfdd7af79f8f\/our-sovereign-sukuk-issuances-to-slow-down-in-2025-%2B-a-new-pif-funded-cricket-league-in-the-works%3F#:~:text=A%20new%20PIF%2Dfunded%20cricket%20league%20is%20in%20the%20works%3A%20Saudi%20Arabia%20is%20reportedly%20prepared%20to\" style=\"\" rel=\"noopener\">invest some USD 500 mn<\/a> in the new T20 global cricket league \u2014 modeled after tennis Grand Slams \u2014 through the PIF\u2019s Surj Sports Investments. The project is being touted as a move away from the traditional funding structures \u2014 broadcasters and International Cricket Council (ICC) distributions \u2014 which have disproportionately favored cricket\u2019s superpower India.<\/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>HAPPENING TOMORROW- <\/strong><strong>Saudi Arabia and China are set to face off in their World Cup <\/strong><strong>qualifier at Al-Awwal <\/strong><strong>Park in Riyadh<\/strong>, kicking off tomorrow at 9:15 pm. The Green Falcons will be led by Herve Renard.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- J<\/strong><strong>eddah g<\/strong><strong>ears up for the AFC <\/strong><strong>Champions League Elite Finals<\/strong>, featuring seven knockout matches between 25 April and 3 May, according to a <a target=\"_blank\" href=\"https:\/\/www.the-afc.com\/en\/club\/afc_champions_league_elite.html\/news\/stage-set-for-aclelite-finals-jeddah-2025\" style=\"\" rel=\"noopener\">press release<\/a>. Top-seeded and top AFC champion Al Hilal SFC will meet South Korea\u2019s Gwangju FC, Saudi league title-holder Al Ahli is set to take on Thai Buriram United, and Cristiano Ronaldo\u2019s Al Nassr must measure against Japan\u2019s Yokohama Marinos. The victors will progress to the semi-finals set for 29-30 April, with the final match scheduled for 3 May at King Abdullah Sports City Stadium.<\/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>One story is on every front page this morning: <\/strong>The anticipated phone call between US President Donald Trump and Russian President Vladimir Putin ended with Putin agreeing to halt strikes on Ukrainian energy and infrastructure facilities for 30 days. The discussion also touched on tensions in the Middle East, with the two sides saying they would make \u201cjoint efforts to stabilize the situation in crisis zones.\u201d Trump described the conversation as \u201ca very good and productive one,\u201d in a post on his social media platform <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/114184931453780675\" style=\"\" rel=\"noopener\">Truth<\/a>. He said the two sides \u201cwill be working quickly to have a complete ceasefire and, ultimately, an end to this very horrible war.\u201d (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-18\/trump-and-putin-wrap-phone-call-as-us-pushes-for-ceasefire?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/trump-hold-call-with-putin-test-deal-making-strength-2025-03-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/75b37ad2-0f35-4fe7-b3cf-a36b965c9a71\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/03\/18\/us\/politics\/trump-putin-call-ukraine-russia-ceasefire.html\" 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 MAKING HEADLINES- Gaza sees deadliest day in two months:<\/strong> Israeli airstrikes and shelling killed more than 400 Palestinians in Gaza yesterday, marking the deadliest day in the strip in over two months. The attacks marked the collapse of January\u2019s ceasefire agreement, dashing any immediate hopes of extending the truce into its second phase, originally set to begin this month. Israel vowed to escalate its military operations, with Prime Minister Benjamin Netanyahu\u2019s office saying it would act with \u201cincreased military strength.\u201d (<a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/live\/czje23jd779t\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/world\/live-news\/gaza-israel-hamas-strikes-03-18-25\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/03\/18\/world\/middleeast\/israel-gaza-hamas-war.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-palestinians-hamas-war-news-ceasefire-hostages-03-18-2025-0df87331efc6a7b1dfd99275f52868a5\" style=\"\" rel=\"noopener\">AP<\/a>)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS: PIF\u2019s new cricket league hits stumbling block<\/p>\n","protected":false},"author":1,"featured_media":95428,"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":[276,10,11,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-bonds","tag-enterpriseam-ksa","tag-gulf-islamic-investments","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"25601b64-725c-48b3-b130-22d9f5925d46","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/1\/2116.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: PIF mulls issuing first EUR-denominated bond + Entaj eyes Gulf expansion following Tadawul debut","related_issue":[95425],"teaser":"PLUS: PIF\u2019s new cricket league hits stumbling block","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.c7f8bcc6-9186-4c9c-b719-1ca65ea3016b.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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