{"id":98734,"date":"2025-07-15T00:00:00","date_gmt":"2025-07-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/byd-to-open-more-showrooms-in-saudi-heating-up-ev-market\/"},"modified":"2025-07-15T00:00:00","modified_gmt":"2025-07-15T00:00:00","slug":"byd-to-open-more-showrooms-in-saudi-heating-up-ev-market","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/byd-to-open-more-showrooms-in-saudi-heating-up-ev-market\/","title":{"rendered":"BYD to open more showrooms in Saudi, heating up EV market"},"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\u2019re halfway through the week (and the year), and we\u2019re getting more and more data on how the markets did in the second quarter and the first half. The Kingdom is topping Kamco Invest\u2019s charts in bond and sukuk issuances in 1H, while our real estate market saw strong demand and high occupancy rates in 2Q, as per CBRE\u2019s figures.<\/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> WeBuild\u2019s Salini bagged a USD 600 mn contract to carry out the next phase of Diriyah Square in Riyadh, while Sukna launched MENA\u2019s first open-ended, sharia-compliant direct lending fund. On the startups scene, Lucidya closed the region\u2019s biggest AI round to scale up Arabic-first CX tech.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FOR TOMORROW- <\/strong>We\u2019re waiting on the fresh inflation figures from Gastat, due out today.<\/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>WEATHER- Riyadh<\/strong> is expected to see a high of 45\u00b0C and a low of 30\u00b0C, while <strong>Jeddah<\/strong>\u2019s mercury will go as high as 41\u00b0C and as low as 31\u00b0C. <strong>Makkah<\/strong> will see a 40\u00b0C and a 30\u00b0C low.<\/p>\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>The Royal Co<\/strong><strong>mmission for Riyadh<\/strong><strong> City has started acquiring properties for the second <\/strong><strong>phase of its Road Corridors Development Program<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/RCRCSA\/status\/1943664330634899753\" style=\"\" rel=\"noopener\">post on X<\/a> on Friday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who will be affected? <\/strong>Properties targeted for expropriation include those along Thamaniyah Road, the Second Eastern Ring Road, and Prince Mishaal Bin Abdulaziz Road, as well as two parallel bridges to the existing Suspension Bridge and areas linked to the planned upgrade of the Western Ring Road and Jeddah Road intersection. Affected property owners are instructed to submit their documents either online or in person at the Roads Implementation Office.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project<\/strong>, which kicked off in August 2024 with an investment ticket of SAR 13 bn, aims at significantly enhancing traffic flow and improving access to the capital\u2019s projects. The new development phase includes eight projects, with over SAR 8 bn in investments, the <a target=\"_blank\" href=\"https:\/\/saudigazette.com.sa\/article\/653355\/SAUDI-ARABIA\/Riyadh-launches-property-acquisition-to-expand-key-road-corridors\" style=\"\" rel=\"noopener\">Saudi Gazette<\/a> reports.<\/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\"> 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>BYD to acce<\/strong><strong>lerate Saudi expa<\/strong><strong>nsion:<\/strong> Chinese automaker BYD \u2014 which entered the Saudi market last year \u2014 plans to have ten showrooms in the Kingdom by mid-2026, up from its current three, while targeting over 5k vehicle sales this year, Managing Director Jerome Saigot told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-14\/byd-aims-to-triple-saudi-footprint-after-tesla-enters-market\" 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>Just the beginning: <\/strong>\u201cWe are not here to stay at five or ten thousand cars a year,\u201d Saigot said, adding that the sales targets are set to increase substantially in the future.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Competition is heating up in our EV market<\/strong>. US giant Tesla opened its first showroom in Riyadh <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/641ce02f-4a73-4a84-b055-a10c9eb6f6fe\/tesla-debuts-in-saudi-arabia,-riding-the-wave-of-rising-ev-demand\" style=\"\" rel=\"noopener\">in April<\/a>, joining BYD and other Chinese automakers like Geely and Zeekr in trying to gain a foothold in the market. BYD has been a fierce competitor with Tesla in recent months, with some analysts now expecting BYD to overtake Tesla in global EV sales for the full year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Saudi Arabia has been racing to become an EV hub, aiming for 30% of all vehicles in its capital to be electric by 2030. The Public Investment Fund is backing the country\u2019s first auto plant with Lucid Motors and created its own EV brand, Ceer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT- <\/strong>Hurdles like high costs, sparse charging, and extreme temperatures have stifled EV adoption at just over 1% of total car sales 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\"><a id=\"wwtt2\"><\/a> <strong><a target=\"_blank\" href=\"https:\/\/advancedpetrochem.com\/\" style=\"\" rel=\"noopener\">Advanced<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/advancedpetrochem.com\/\" style=\"\" rel=\"noopener\">Petrochemical<\/a><\/strong><strong> kicked off commercial operations at its new plants in Jubail <\/strong><strong>Industrial City<\/strong>, after its subsidiary Advanced Polyolefins Industry completed their construction, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88742&anCat=1&cs=2330&locale=en\" style=\"\" rel=\"noopener\">Tadawul disclosure<\/a> yesterday. The new facilities include a propane dehydrogenation plant with an annual production capacity of 843k tons and two polypropylene plants with a combined annual production capacity of 800k tons.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Already generating revenue:<\/strong> The whole project, which includes one of the largest polypropylene plants globally, acquired about SAR 9.5 bn of investments, CEO Fahad Al Matrafi told Asharq <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/videos\/89933\/%D8%A7%D9%84%D9%85%D8%AA%D9%82%D8%AF%D9%85%D8%A9-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B3%D8%AA%D8%AB%D9%85%D8%B1-%D8%AD%D9%88%D8%A7%D9%84%D9%8A-9-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%B1%D9%8A%D8%A7%D9%84-%D8%A8%D9%85%D8%B5%D9%86%D8%B9%D9%8A-%D8%A7%D9%84%D8%AC%D8%A8%D9%8A%D9%84\/\" style=\"\" rel=\"noopener\">(watch; runtime: 8.24)<\/a>. The initial operations of one of its polypropylene production lines produced 400-450k tons in 2Q 2025, increasing the firm\u2019s sales by 20%. The plants are expected to operate at full production capacity starting in 4Q.<\/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> <\/strong><strong>The Kingdom has reportedly asked consulting firms to review the feasibility of its<\/strong><strong> plans<\/strong><strong> for The Line<\/strong>, as it reassesses spending priorities due to increasing government deficit, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-14\/saudi-arabia-reviews-gigantic-city-at-neom-called-the-line\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported yesterday, citing sources it says are familiar with the matter. The firms were tasked with evaluating whether the current design is realistic and suggesting possible adjustments. While no final decisions have been made, any proposed changes would require approval from the Public Investment Fund (PIF) and the government.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT<\/strong><strong>-<\/strong> Recent fluctuations in oil prices have reportedly prompted <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/12e0076f-2c22-49ca-872f-b1d2c0a1c8d1\/#:~:text=Neom%20is%20undergoing%20a%20%E2%80%9Ccomprehensive%20review%E2%80%9D%20led%20by%20acting%20CEO%20Aiman%20Al%20Mudaifer%20to%20reassess%20budgets%20and%20progress%20of%20various%20developments\" style=\"\" rel=\"noopener\">comprehensive<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/12e0076f-2c22-49ca-872f-b1d2c0a1c8d1\/#:~:text=Neom%20is%20undergoing%20a%20%E2%80%9Ccomprehensive%20review%E2%80%9D%20led%20by%20acting%20CEO%20Aiman%20Al%20Mudaifer%20to%20reassess%20budgets%20and%20progress%20of%20various%20developments\" style=\"\" rel=\"noopener\">reviews<\/a> of the Kingdom\u2019s biggest planned investments, including Neom, in a bid to keep deficits and debt levels at a minimum. The review is led by Neom CEO, Aiman Al Mudaifer, to reassess budgets and progress of various developments, particularly some tourism projects along the Red Sea.<\/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>Obeikan + Azm trading halted ahead of main market move:<\/strong> The Saudi Exchange will suspend trading of <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88716&anCat=1&cs=9534&locale=en\" style=\"\" rel=\"noopener\">Obeikan Glass<\/a> and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details?&locale=en&anCat=1&anId=88720#:~:text=Accordingly%2C%20the%20Saudi%20Exchange%20will%20suspend%20the,the%20transfer%20procedures%20to%20the%20Main%20Market.\" style=\"\" rel=\"noopener\">Saudi Azm<\/a> shares for up to five sessions starting 15 July as both companies prepare to move from the Nomu parallel market to the main market TASI, according to two disclosures to Tadawul.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Azm will transfer with an authorized capital of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7ab5a39d-4d34-417b-8691-88e321768d6e\/riyad-capital-files-for-tadawul-ipo-%2B-cma-signs-off-on-two-fresh-listings\" style=\"\" rel=\"noopener\">SAR 30 mn and 60 mn shares<\/a>, while Obeikan Glass will move with an authorized capital of SAR 320 mn and 32 mn shares.<\/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\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/513.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">For decades, Sahel has been synonymous with summer's embrace: clear waters, crisp breezes, and vibrant nights. Last year, Ras El-Hekma cast a spotlight on its potential as a regional investment and tourism engine.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In the second issue of our <strong>Destination Sahel<\/strong> series, we\u2019re digging deep into the infrastructure needed to support this evolution \u2014 and whether Sahel has a spot on the global tourism stage..<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Subscribe to our Egypt edition<\/a><\/strong> to get the second issue of our series EnterpriseAM Destination Sahel in your inbox <strong>today at 10am.<\/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\">DATA POINTS-<\/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>Tourism reve<\/strong><strong>nue in the Kingdom saw the strongest growth globally sin<\/strong><strong>ce the pandemic<\/strong>, with international tourism revenue rising 252% in 1Q 2025 compared to the same period in 2019, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/834.pdf\" style=\"\" rel=\"noopener\">UN World Tourism Barometer report (pdf)<\/a>. On a y-o-y basis, the Kingdom\u2019s international tourism revenue increased 14% compared to 1Q 2024, landing in the 12th spot globally for growth rate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>International tourist arrivals in the Kingdom doubled since the pandemic<\/strong>, recording a 102% increase in 1Q 2025 compared to the same quarter in 2019. This is the third-highest growth rate globally and the second in the Middle East, far exceeding the global average of 3% and the Middle East average of 44%. Compared to last year, arrivals in the Kingdom rose 2% in 1Q 2025, placing Saudi Arabia in tenth place in Africa and the Middle East in terms of growth.<\/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>US <\/strong><strong>golfer Talo<\/strong><strong>r Gooch claimed his second individual victory at Valderrama<\/strong>, finishing at 8 under to edge out Spain\u2019s Jon Rahm by one stroke at Liv Golf Andalucia, according to a <a target=\"_blank\" href=\"https:\/\/www.livgolf.com\/news\/talor-gooch-wins-liv-golf-andalucia-legion-xiii-team-title-rd-3-recap-2025\" style=\"\" rel=\"noopener\">statement<\/a>. While Rahm missed out on the solo title, his team Legion XII captured its third victory of the season and seventh overall, beating Sergio Garcia\u2019s Fireballs GC.<\/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>In a big reversal of his foreign policy stance towards Russia, US President Donald Trump <\/strong><strong>threatened 100% tariffs on Russian imports<\/strong> \u2014 along with fresh sanctions \u2014 if Russia does not end its war on Ukraine within 50 days \u2014 and pledged bns of USD of new weapons for Ukraine. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-14\/trump-promises-more-weapons-for-ukraine-paid-for-by-europe?srnd=homepage-middle-east&embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/trump-send-patriot-missiles-ukraine-us-envoy-visits-kyiv-2025-07-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/trump-agrees-to-sell-nato-weapons-for-ukraine-83a32be9?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, Trump is eyeing tomatoes and drones: <\/strong>The US will now be slapping Mexican tomatoes with a 17% tariff \u2014 separate from the 30% tariff on other imports from the country, while launching probes into drone imports, as well as imports of parts for unmanned aerial vehicles and for polysilicon, an important material for solar power. If the probes find that the imports are a threat to national security, new tariffs could be imposed. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-14\/trump-probes-drones-and-polysilicon-setting-stage-for-tariffs?srnd=homepage-middle-east&embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/americas\/us-withdraws-tomatoes-agreement-with-mexico-2025-07-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/07\/14\/business\/economy\/trump-tariff-mexican-tomatoes.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>Across the pond, the EU has prepared a list of USD 72 bn worth of US goods it plans to target with countermeasures<\/strong> as a retaliation against the US\u2019 30% tariff on EU imports. This includes Boeing aircraft, automobiles, Bourbon, machinery products, chemicals and plastics, medical devices, electrical equipment, and wine. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-14\/eu-to-hit-boeing-ba-us-cars-bourbon-if-it-retaliates-against-trump-tariffs?srnd=homepage-middle-east&embedded-checkout=true\" 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>This comes as the EU\u2019s lead negotiator, Maro\u0161 \u0160ef\u010dovi\u010d\u2019s, warns of a \u201cbig gap\u201d in trade talks<\/strong> with the US ahead of the 1 August deadline for the US\u2019 reciprocal tariffs, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2a1522b3-e515-488b-874a-e1d7eb8d9ecc\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Keep an eye out for Wall Street\u2019s earnings season:<\/strong> Major US banks including JP Morgan, Wells Fargo, and Citigroup are due to report their 2Q 2025 earnings today, and while forecasts are positive, it will be interesting to see how they fared during a volatile period marked by the introduction of tariffs and fears of a recession. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS: Advanced Petrochemical kicks off operations at new Jubail Industrial City plants<\/p>\n","protected":false},"author":1,"featured_media":98735,"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":[3792,10,2751,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-byd","tag-enterpriseam-ksa","tag-ev","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"a1969293-7208-4ab6-9afc-33aa68249dfb","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/7\/945.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: BYD to open more showrooms in Saudi, heating up EV market","related_issue":[98732],"teaser":"PLUS: Advanced Petrochemical kicks off operations at new Jubail Industrial City plants","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.ef05a275-f19f-4063-b601-044999793cdf.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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