{"id":97869,"date":"2025-06-16T00:00:00","date_gmt":"2025-06-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/16\/asas-makeen-to-hit-nomu-today-world-bank-lifts-ban-on-nuclear-funding\/"},"modified":"2025-06-16T00:00:00","modified_gmt":"2025-06-16T00:00:00","slug":"asas-makeen-to-hit-nomu-today-world-bank-lifts-ban-on-nuclear-funding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/16\/asas-makeen-to-hit-nomu-today-world-bank-lifts-ban-on-nuclear-funding\/","title":{"rendered":"Asas Makeen to hit Nomu today + World Bank lifts ban on nuclear funding"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning<\/strong>. The air is rife with fear and anticipation all across the region, as hostilities between Israel and Iran keep escalating. Ramped up attacks on military, civilian and energy infrastructure in both countries loomed large over MENA equities yesterday, almost all in the red, with efforts to bring Te Aviv and Tehran back to the negotiating table not yielding much success as of this time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a calmer day on the domestic front, though<\/strong>, with the inflation rate slightly inching down in May. Meanwhile, Almarai is moving to acquire a full stake in Pure Beverages, and Acwa is eyeing Kahrabel assets in Kuwait. Let\u2019s dive in.<\/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>Prope<\/strong><strong>rty developer <\/strong><strong>Asas Makeen\u2019s shares are due to hit Tadawul\u2019s parallel market Nomu <\/strong><strong>today<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-detail-wcm\/?newsId=8868&locale=en\" style=\"\" rel=\"noopener\">Tadawul statement<\/a>. The company\u2019s shares will be allowed to fluctuate within a 30% band, with a static fluctuation band of 10% on the first three trading days. Starting from the fourth day, shares will be allowed to trade at a 10% volatility as circuit breakers take effect.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER: <\/strong>The firm floated a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b100df66-68fa-414b-ab57-9d374b05b379\/%253cmark%253easas-makeen%253c%2Fmark%253e-to-open-subscription-for-its-nomu-ipo-on-19-may\" style=\"\" rel=\"noopener\">10% stake<\/a> in a secondary offering that was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0b695248-d146-4a0c-bb54-2ff3bc2891df\/%253cmark%253easas%253c%2Fmark%253e%253cmark%253e-makeen%253c%2Fmark%253e%25e2%2580%2599s-nomu-ipo-was-19.5x-oversubscribed-ahead-of-listing\" style=\"\" rel=\"noopener\">19.5%<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0b695248-d146-4a0c-bb54-2ff3bc2891df\/%253cmark%253easas%253c%2Fmark%253e%253cmark%253e-makeen%253c%2Fmark%253e%25e2%2580%2599s-nomu-ipo-was-19.5x-oversubscribed-ahead-of-listing\" style=\"\" rel=\"noopener\">oversubscribed<\/a>. Some c. 500k new shares were up for grabs at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6b862028-1a79-432b-a83e-2bfda438facb\/asas-makeen-prices%253cmark%253e-nomu-ipo%253c%2Fmark%253e-at-sar-80-apiece\" style=\"\" rel=\"noopener\">SAR 80 apiece<\/a>, giving Asas Makeen a market cap of SAR 800 mn at listing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\u26a0\ufe0f<strong>WEATHER-<\/strong><strong> Don\u2019t forget to hydrate: <\/strong>Scorching weather will continue across several regions in the Kingdom till Wednesday, the National Center of Meteorology warned in a <a target=\"_blank\" href=\"https:\/\/x.com\/NCMKSA\/status\/1933545760529748261\" style=\"\" rel=\"noopener\">post on X<\/a>. warned.<strong> Riyadh<\/strong> is expected to see a high of 46\u00b0C and a low of 30\u00b0C today, while<strong> Jeddah<\/strong>\u2019s mercury will go as high as 38\u00b0C and as low as 28\u00b0C. <strong>Makkah<\/strong> will see a 45\u00b0C high and 34\u00b0C low.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HAPPENING TOMORROW-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Event organizer<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/www.time-entertainment.com\/\" style=\"\" rel=\"noopener\">Time Entertainment Company<\/a><\/strong><strong> will make its debut in the Nomu parallel <\/strong><strong>market tomorrow<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-detail-wcm\/?newsId=8870&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The company\u2019s IPO was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9f07d66b-16dc-46b7-9161-b124e32674cd\/\" style=\"\" rel=\"noopener\">1.4x oversubscribed<\/a>, driving the firm to price its offering at SAR 80 per share, with the four selling shareholders raking in SAR 16 mn in proceeds from offering a 20% stake.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shares will be allowed to trade within a 30% range for the first three days<\/strong>, before being capped at no more than 10% up or down when circuit breakers kick in.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- All companies whose fiscal year ended on 31 December 2024 must file their financial <\/strong><strong>statements by 30 June through the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/qawaem.bc.gov.sa\/\" style=\"\" rel=\"noopener\">Qawaem platform<\/a><\/strong>, the Ministry of Commerce said in a post on <a target=\"_blank\" href=\"https:\/\/x.com\/MCgovSA\/status\/1934215490206826722\" style=\"\" rel=\"noopener\">X<\/a>. Failure to submit financial statements within 6 months from the FY\u2019s end will result in financial penalties under the New Companies Law.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Midday work <\/strong><strong>ban now in effect: <\/strong>The three-month midday work ban for private sector employees <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0cc1397e-b7f4-4ee1-9f4a-81896e0add0a\/asian-companies-are-in-early-talks-to-list-on-tadawul--al-rumaih#:~:text=A%20three%2Dmonth%20midday%20work%20ban%20under%20direct%20sunlight%20will%20be%20enforced%20for%20private%20sector%20workers%2C%20effective%20Sunday%2C%2015%20June%20through%20Monday%2C%2015%20September\" style=\"\" rel=\"noopener\">officially began yesterday<\/a> and will remain in effect until Monday, 15 September. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/83b4eb7f-ed91-48cd-88b9-3e908372045f\/%253cmark%253ethe%253c%2Fmark%253e-rio-de-janeiro-iteration-of-davos-in%253cmark%253ethe%253c%2Fmark%253e-desert-begins-today#:~:text=Workers%20employed%20by%20the%20private%20sector%20will%20be%20prohibited%20from%20working%20under%20the%20sun%20between%2012pm%20and%203pm%20starting%20Saturday%2C%2015%20June%20until%20Sunday%2C%2015%20September\" style=\"\" rel=\"noopener\">yearly<\/a> three-hour daily ban (12pm-3pm) is a part of a broader policy to reduce occupational injuries and promote worker health amid rising temperatures.<\/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> #1- World Bank lifts ban on nuclear funding: <\/strong>The World Bank will resume funding nuclear energy projects for the first time since 1959, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d80b68ec-3da8-42ea-82ee-4cab22b31a69\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports, citing a note by World Bank\u2019s President Ajay Banga. The bank will work in partnership with the International Atomic Energy Agency, the UN\u2019s nuclear watchdog, to support nuclear projects in developing countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Initial efforts will focus on extending the lifespan of existing nuclear reactors in countries <\/strong><strong>that already operate them<\/strong>, alongside upgrading power grids and supporting related infrastructure, supporting a projected surge in electricity demand across the developing world, FT said. Banga said annual investment in generation, grid, and storage infrastructure must rise to USD 630 bn, from USD 280 bn currently, to meet demand. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bank also plans to back emerging nuclear tech<\/strong>, particularly small modular reactors (<a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c62614wejk5o\" style=\"\" rel=\"noopener\">SMRs<\/a>), to make them viable for wider development. SMRs are a flexible and potentially more affordable nuclear alternative, but they remain in early stages of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/bb462dde-434b-48b1-9b5b-6cfcec49514e\/\" style=\"\" rel=\"noopener\">commercialization<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nuclear needs a lot of backing:<\/strong> Private sector capital will be key, but the World Bank will need to back it with tools like guarantees and equity, the FT added. The nuclear industry also needs a domino effect, where other multilaterals, including the Asian Development Bank, follow suit with funding. Government-backed, low-cost financing is essential to getting large-scale projects off the ground, given their high cost and risk. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More US involvement?<\/strong> The US \u2014 the World Bank\u2019s largest shareholder \u2014 and other Western nations have been lobbying for the ban lift as it looks to level the playing field for Western firms competing with state-backed nuclear giants from Russia and China, which are developing nuclear infrastructure in developing countries.  <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi wants in on the nuclear game: <\/strong>The US and Saudi Arabia are set to sign a broad energy cooperation agreement soon, expected to pave the way for a nuclear cooperation agreement, US Energy Secretary Chris Wright confirmed during a visit to Riyadh in  <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/562854a2-6ecd-4374-a6aa-32516671e914\/\" style=\"\" rel=\"noopener\">April<\/a> . Negotiations have been slow as Riyadh reportedly held back from promising that it would not enrich uranium or reprocess spent fuel, two key steps for countries that wish to start building their own nuclear weapons.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>End goal? <\/strong>The Kingdom\u2019s <a target=\"_blank\" href=\"https:\/\/www.energy.gov.sa\/ar\/projects\/pages\/atomic.aspx\" style=\"\" rel=\"noopener\">plans<\/a> include building two <a target=\"_blank\" href=\"https:\/\/world-nuclear.org\/information-library\/country-profiles\/countries-o-s\/saudi-arabia\" style=\"\" rel=\"noopener\">1.4 GWe nuclear reactors<\/a>, with a long-term goal of expanding nuclear capacity to 17 GWe by 2040.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> #2- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/armahsports.com\/\" style=\"\" rel=\"noopener\">Armah Sports\u2019<\/a><\/strong> <strong> board of directors approved the <\/strong><strong>transition to the main market Tadawul<\/strong>, and appointed Saudi Fransi Capital as a financial advisor, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88098&anCat=1&cs=9590&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The transition is pending approval from the Saudi Exchange.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Armah Sports made its SAR 137 mn debut on the parallel market Nomu in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2cb8f523-f451-4b24-9029-80e3bf3c814d\/riyadh-steel,%253cmark%253e-armah%253c%2Fmark%253e%253cmark%253e-sports%253c%2Fmark%253e-close-up-in-nomu-debuts\" style=\"\" rel=\"noopener\">December 2023<\/a>, with its shares closing up 1.8% at SAR 28.5 a piece on the first day of trading. The company listed nearly 5 mn shares, representing a 15% stake.<\/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><a id=\"wwtt3\"><\/a> #1- F<\/strong><strong>orei<\/strong><strong>gn assets hit nine-month high in May:<\/strong> The Saudi Central Bank\u2019s (Sama) net foreign assets increased 4.7% m-o-m in May to SAR 1.6 tn (USD 435.5 bn), up from SAR 1.6 tn (USD 415.9 bn) in April, marking its highest level since August 2024, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4460579\/%D8%B5%D8%A7%D9%81%D9%8A-%D8%A7%D9%84%D8%A3%D8%B5%D9%88%D9%84-%D8%A7%D9%84%D8%A3%D8%AC%D9%86%D8%A8%D9%8A%D8%A9-%D9%84%D9%80-%D8%B3%D8%A7%D9%85%D8%A7-%D9%8A%D8%B1%D8%AA%D9%81%D8%B9-19-6-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%AE%D9%84%D8%A7%D9%84-%D9%85%D8%A7%D9%8A%D9%88\/\" style=\"\" rel=\"noopener\">Mubasher<\/a> reports, citing the central bank\u2019s May survey.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a y-o-y basis<\/strong>, Sama\u2019s net foreign assets dropped 2.1%, down from SAR 1.7 tn (USD 444.7 bn) in May 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Sama\u2019s monetary base grew 7.5% y-o-y to SAR 431.3 bn (USD 115 bn) during the <\/strong><strong>month<\/strong>, while net claims on the government fell 12% y-o-y to SAR 464.2 bn (USD 123.8 bn).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Omani ind<\/strong><strong>ustrial exports to Saudi Arabia rose 28.3% y-o-y in 1Q 2025 to <\/strong><strong>OMR 259 mn<\/strong><strong> (c. <\/strong><strong>SAR 2.5 bn)<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/economy\/2025\/06\/14\/%D8%A7%D8%B1%D8%AA%D9%81%D8%A7%D8%B9-%D8%A7%D9%84%D8%B5%D8%A7%D8%AF%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D9%85%D8%A7%D9%86%D9%8A%D8%A9-%D8%A7%D9%84%D9%89-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%A8%D9%80-283-%D9%81%D9%8A-%D8%A7%D9%84%D8%B1%D8%A8%D8%B9-%D8%A7%D9%84%D8%A7%D9%88%D9%84\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reported on Saturday, citing data from the Omani National Center for Statistics. The Kingdom became Oman\u2019s second-largest GCC trading partner.<\/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>Once again, the international press is zeroing in our part of the world as Israel\u2019s war with <\/strong><strong>Iran enters its fourth day<\/strong>, with reports coming out overnight about the US vetoing Israeli plans to kill Iran\u2019s supreme leader and continuing strikes that have now pushed the death toll to at least 244 in Iran and 10 in Israel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US President Donald Trump allegedly vetoed Israel\u2019s plan to kill Iranian Supreme Leader <\/strong><strong>Ayatollah Ali Khamenei, <\/strong>which it presented to the US in recent days amid the ongoing escalations between Iran and Israel. The Trump administration reportedly rejected the plan as it saw it as \u201cas a move that would enflame the conflict and potentially destabilize the region,\u201d an unnamed US official said. Israeli Prime Minister Benjamin Netanyahu in response to the news seemed to refuse to put regime change off the table, telling Fox News that \u201cwe do what we need to do.\u201d (<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-iran-israel-attack-43e3b1ce47d12477ae4533c941386b75\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-iran-strike-each-other-new-wave-attacks-2025-06-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/97667b54-219d-454e-a245-00b5d4b1d7c7#post-aa2616b0-4fc7-4dd4-802a-1393780eeb99\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/live\/2025\/jun\/15\/at-least-eight-killed-in-iranian-strikes-on-israel-while-israeli-attacks-set-tehran-oil-depot-on-fire-live-updates\" style=\"\" rel=\"noopener\">Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2025\/06\/15\/world\/iran-israel-nuclear\" 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>The war is also expected to top the agenda of the G7 Leaders Summit kicking off in <\/strong><strong>Canada. <\/strong>Differences between the US and the six other nations over trade tariffs and Russia\u2019s war on Ukraine are also being painted as potential flashpoints. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/g7-leaders-meet-canada-hoping-avoid-trump-clash-2025-06-15\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c1129ec7-850a-4beb-bcf6-d23d532bc0ef\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-15\/trumps-returns-to-g-7-he-once-loathed-as-iran-crisis-intensifies?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While over in the business papers, Renault CEO Luca de Meo has stepped down<\/strong> to pursue a new position as CEO of French luxury group and Gucci owner Kering. Kering shareholders will be hoping that de Meo will be able to turn around the company like he did with the previously struggling French automaker, with shares in the luxury brand having lost 60% of their value in the last two years. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fd135021-3ec4-4038-8351-12a22980065d\" style=\"\" rel=\"noopener\">Financial TimesT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/renault-boss-de-meo-leaves-carmaker-lead-kering-le-figaro-reports-2025-06-15\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-15\/kering-to-tap-renault-s-luca-de-meo-as-ceo-after-share-slump\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS: Armah Sports to transition to Tadawul\u2019s main market<\/p>\n","protected":false},"author":1,"featured_media":97870,"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":[2425,10,29,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-energy","tag-enterpriseam-ksa","tag-ipo-watch","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"63f9e731-833e-42d1-9a38-b991edacad5e","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/6\/790.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: Asas Makeen to hit Nomu today + World Bank lifts ban on nuclear funding","related_issue":[97867],"teaser":"PLUS: Armah Sports to transition to Tadawul\u2019s main market","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.62c111f4-c797-41f5-9bb7-8f3190d0de3e.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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