{"id":99119,"date":"2025-07-28T00:00:00","date_gmt":"2025-07-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/28\/saudi-france-to-lead-push-for-two-state-solution-at-the-un\/"},"modified":"2025-07-28T00:00:00","modified_gmt":"2025-07-28T00:00:00","slug":"saudi-france-to-lead-push-for-two-state-solution-at-the-un","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/28\/saudi-france-to-lead-push-for-two-state-solution-at-the-un\/","title":{"rendered":"Saudi, France to lead push for two-state solution at the UN"},"content":{"rendered":"

Good morning<\/strong>, wonderful people. Consolidation in the ins. sector is leading this morning\u2019s packed issue, after Medgulf signed a binding agreement to absorb Buruj, together making the sector\u2019s fourth biggest player. We also dive into Capital Economics\u2019 analysis of why our inflation rates have been (enviably) so low in the last few years, and why they\u2019re poised to stay that way.<\/p>\n

ALSO- <\/strong>Big players in telecoms and petrochems \u2014 including STC, Zain, Sabic and more \u2014 are out with their 2Q earnings. We break down the numbers in today\u2019s news well, below.<\/p>\n

HAPPENING TODAY-<\/p>\n

The Jadeer tour kicks off today at the SME Support Center in Jeddah<\/strong>, as part of an effort to help small and medium enterprises enter supply chains with major national companies, Monshaat said on X<\/a> on Saturday. The two-day event features over 400 exclusive procurement options, instant qualification for Jadeer certification, and more than 32 specialized workshops led by six large companies. Advisory sessions in areas like strategic planning, HR, and operations will also be held, ahead of upcoming stops in Al Khobar, Riyadh, and Madinah.<\/p>\n

WEATHER- Riyadh<\/strong> is expected to see a high of 45\u00b0C before easing to a warm 31\u00b0C after dusk, while Jeddah<\/strong>\u2019s heat will peak at 41\u00b0C, settling to a balmy 32\u00b0C as the evening rolls in. In Makkah<\/strong>, temperatures will climb to 42\u00b0C at their hottest, tapering off to 33\u00b0C by nightfall.<\/p>\n

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HAPPENING THIS WEEK-<\/p>\n

Local sports tech <\/strong>startups have until Thursday to <\/strong>register<\/a><\/strong> for the <\/strong>ASICS Innovation Pitch<\/a><\/strong>competition<\/a><\/strong>, which offers a prize pool of SAR 35k for the top three winners. The competition is launched in partnership with the Saudi Sports for All Federation<\/a> following a three-year partnership agreement signed with ASICS back in January.<\/p>\n

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PSAs- <\/p>\n

New <\/strong>Saudization<\/strong> rates for <\/strong>d<\/strong>entistry<\/strong>, <\/strong>pharma<\/strong> and <\/strong>engineering<\/strong> sectors came into effect <\/strong>starting yesterday<\/strong>, the Human Resources and Social Development Ministry said in a statement<\/a>. The decision was first announced in January<\/a> in a larger plan to increase nationalization rates in 269 professions across various sectors.<\/p>\n

Localizing<\/strong> dentistry<\/a><\/strong> jobs will run through a two-phase plan<\/strong>, starting at 45% before rising to 55% in January 2026, with a minimum wage of SAR 9k. It applies to firms with at least three dental professionals.<\/p>\n

Pharma professions<\/a><\/strong> now require 35% Saudization in community pharmacies and medical <\/strong>centers<\/strong>, 65% in hospitals, and 55% in other pharmacy-related roles \u2014 all with a minimum wage of SAR 7k. The new rates apply for facilities with five or more employees.<\/p>\n

Engineering roles<\/a><\/strong> must meet a 30% Saudization rate with SAR 5k in minimum wage<\/strong>, applicable to private sector companies with five or more employees, covering 184 targeted job categories.<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a> <\/strong>The Kingdom and France will lead the push for the two-state solution at the UN ministerial <\/strong>conference in New York this week<\/strong>, as part of the Kingdom\u2019s ongoing support for a just and lasting peace, Foreign Minister Faisal bin Farhan told state news agency SPA<\/a> yesterday.<\/p>\n

France is set to formally recognize Palestine at the UN General Assembly on 21 September<\/strong>, with hopes that more European countries will follow, Reuters<\/a> reported. A proposed roadmap toward a two-state solution \u2014 covering security, reconstruction, and governance \u2014 will also be presented at the meeting, France\u2019s foreign minister said.<\/p>\n

ALSO-<\/strong> The newswire claims that European diplomats are in talks with some Arab countries on an initiative that would see Europe recognize the state of Palestine during the meeting, in return for Arab countries condemning Hamas and publicly calling for its disarmament. <\/p>\n

AND- Aid trucks are making their way from Egypt to Gaza: <\/strong>Aid trucks loaded with food and basic supplies began moving from Egypt into Gaza yesterday, Al Qahera News<\/a> reports. This comes a day after Israel said that it had resumed airdropping aid into Gaza.<\/p>\n

The news comes as Israel <\/strong>claims<\/a><\/strong> it will \u201cstop fighting\u201d for up to 10 hours each day <\/strong>in some areas of Gaza to allow food distribution. Jordan and the UAE, meanwhile, have begun airdropping food aid on Gaza, where starvation is a fact of daily life and famine is now the watchword. Some in the west, meanwhile, continues to debate what constitutes famine<\/a>. <\/p>\n

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<\/a> <\/strong>Nomu-listed Canadian Medical Center (CMC) filed to transition to Tadawul\u2019s main market<\/strong>, according to a disclosure<\/a>. The move was first announced in March of last year<\/a> when it hinted at an ambitious expansion plan that included moving into new segments of the industry including telemedicine, physiotherapy, outpatient clinics, the local emergency medical services market, as well as plans to open new branches in Jubail and Tabuk. CMC appointed Al Rajhi Capital as financial advisor to quarterback the move.<\/p>\n

What it takes:<\/strong> To transition from Nomu to the main market, a company must have been listed on Nomu for at least two years and satisfy all main market listing conditions \u2014 except for market capitalization, where a lower threshold of an average SAR 200 mn over the past six months applies.<\/p>\n

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<\/a><\/strong> The<\/strong> General Authority of Foreign Trade (Gaft) is running an<\/strong> anti-dumping probe into <\/strong>imports of ductile iron pipes originating from or exported by India<\/strong>, according to an initiation notice (pdf)<\/a>. The investigation will include cast iron pipes and hollow tubes with diameters ranging from 100-1k mm.<\/p>\n

BACKGROUND-<\/strong> The action follows a complaint by Saudi Arabian Amiantit<\/a> \u2019s subsidiary Saudi Arabian Ductile Iron Pipe Manufacturing Company, along with another Saudi company, against imports by India of hollow pipes and tubes of cast iron, according to a Tadawul disclosure<\/a> released last Thursday.<\/p>\n

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Faster debt offerings are here: <\/strong>The Capital Market Authority (CMA) will now fast-track the review of public debt offering applications if the issuer has a credit rating from a CMA-approved agency, it said in a statement<\/a> yesterday. The move \u2014 which will be in place through the end of 2026 \u2014 aims to make it easier for companies to raise funds through debt instruments and encourage more issuers to seek credit ratings, helping investors better assess risk and make informed decisions.<\/p>\n

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DATA POINTS-<\/p>\n

Ride-hailing apps in the Kingdom recorded over 32 mn trips in 2Q 2025, up 104%<\/strong> y-o-y<\/strong>, the Transport General Authority said on X<\/a> yesterday. Riyadh accounted for the highest share at 41%, followed by Makkah at 22.5% and the Eastern Province at 15.7%. Active male drivers rose to 263k, while female drivers reached 15.3k.<\/p>\n

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THE BIG STORY ABROAD- <\/p>\n

The US and the EU have narrowly averted a trade war after reaching an agreement that <\/strong>will see the bloc face a 15% tariff on exports to the US.<\/strong> The agreement came following months of talks and just a few days before a Friday deadline will see higher tariffs take effect. <\/p>\n

There are still points of contention: <\/strong>European Commission President Ursula von der Leyen said the tariffs covered all exports, including automobiles, drugs, and chips, hitting back at Trump\u2019s claim that the agreement did not cover pharma and metals. The US is working on a probe into pharma that could see it implement a global tariff on drugs later. Conventional wisdom is that we\u2019ll see a low tariff imposed this year \u2014 and a much higher one next year after firms have regrouped. (Bloomberg<\/a> | Financial Times<\/a> | Reuters<\/a> | Wall Street Journal<\/a> | New York Times<\/a>)<\/p>\n

<\/a> ALSO- It\u2019s going to be a big week on Wall Street and in Washington, DC<\/strong>, with CNBC\u2019s Jim Cramer saying it could set the tone for markets through the rest of the summer. Here\u2019s what to watch out for: <\/strong><\/p>\n