{"id":102996,"date":"2025-12-03T00:00:00","date_gmt":"2025-12-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=102996"},"modified":"2025-12-14T22:44:31","modified_gmt":"2025-12-14T22:44:31","slug":"fy2026-budget-unveiled-ahead-of-a-new-vision-2030-phase","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/fy2026-budget-unveiled-ahead-of-a-new-vision-2030-phase\/","title":{"rendered":"FY2026 budget unveiled ahead of a new Vision 2030 phase"},"content":{"rendered":"<section id=\"102998\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"102998\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/paramount-has-gulf-sovereign-funds-backing-warner-bros-offer-variety-reports\/\">\r\n                            THIS MORNING: Paramount has Gulf sovereign funds backing Warner Bros. offer, Variety reports                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/paramount-has-gulf-sovereign-funds-backing-warner-bros-offer-variety-reports\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Finance Ministry unveiled the spending plan for FY2026, as Vision 2030 is going into its third phase spanning the next five years. Spending on diversification efforts is expected to continue unfazed by oil volatility, but financing is set to shift away from capital-intensive construction projects to productive non-oil sectors including industry, AI and tourism. That means deficits are not going away at least until 2028, but at lower and lower levels as per the estimates.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Almasar saw a strong debut on Tadawul, closing up over 18% and bucking what has been a bruising year of muted main market IPOs. Let\u2019s dive in.<\/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- Paramount\u2019s Warner Bros. offer has PIF, GCC backing? <\/strong>The latest offer from Paramount Skydance to fully acquire Warner Bros. Discovery is reportedly backed by the Public Investment Fund, the Qatar Investment Authority, and the Abu Dhabi Investment Authority, unnamed sources told <a target=\"_blank\" href=\"https:\/\/variety.com\/2025\/biz\/news\/paramount-skydance-bid-warner-bros-discovery-arab-wealth-funds-1236597217\/\" style=\"\" rel=\"noopener\">Variety<\/a>. The offer is mostly backed by Oracle co-founder Larry Ellison, while GCC backing is below the threshold that requires foreign investment approval in the US, the sources added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the first time hearing of it<\/strong>: Ellison, who acquired Paramount this year for USD 8 bn, reportedly held preliminary and \u201cactive\u201d talks with the PIF and other Gulf investors to secure financing for a potential bid, the Financial Times reported <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9835ee70-0175-4723-b576-54ad4b7716c8\/humain-secures-approval-for-nvidia%25e2%2580%2599s-high-end-ai-chips\" style=\"\" rel=\"noopener\">last month<\/a>. Earlier reports by Variety on Gulf backing were denied by Paramount at the time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fierce competition: <\/strong>Ellison\u2019s GCC-backed offer (if true) will reportedly be going up against offers from industry titans Netflix and Comcast. There\u2019s no word yet on details of the rival offers, but sources say Netflix is trying to sweeten the bid by pledging to honor Warner\u2019s agreements to distribute films in theaters in case its offer goes through.<\/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>SNB taps global, Asian liquidity as local lenders extend their borrowing <\/strong><strong>streak: <\/strong>Saudi National Bank (SNB) is reportedly lining up a USD 1 bn syndicated loan, mandating DBS Bank and Mitsubishi UFJ Financial (MUFG) to quarterback the five-year facility, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-12-02\/saudi-national-bank-s-1-billion-loan-adds-to-middle-east-spree\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people it says are familiar with the matter. The transaction is now being syndicated to a wider pool, including Asian lenders, as the kingdom\u2019s banks continue to raise cross-border funding to support the government\u2019s USD 2 tn agenda.<\/p>\n<ul>\n<li><strong>The facility will reportedly be priced at 90 bps over SOFR<\/strong>, with the bank targeting participants globally.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- Lenders are gearing up for heavier funding needs<\/strong> as Vision 2030 capex continues to outstrip internal resources. S&P Global says domestic banks will have to extend <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4a5490ca-1af6-49bb-b443-808da139b5de\/corporates-will-turn-to-global-debt-markets-as-investment-needs-overwhelm-internal-funding-resources--%253cmark%253es&p%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">USD 65-75 bn in new loans<\/a> annually through 2026, mostly to real estate and utilities, and will increasingly rely on external borrowing as deposit growth lags.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A regional funding wave:<\/strong> SNB\u2019s move follows a string of Middle East borrowers turning to Asia for liquidity, with regional entities raising USD 13.5 bn in syndicated loans from Asia Pacific YTD, nearly triple last year\u2019s haul, according to Bloomberg data. Riyad Bank recently secured <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f740874e-d9f1-43c3-a07c-b97a2c9c1037\/%253cmark%253eriyad-bank%253c%2Fmark%253e-reportedly-secures-usd-1.5-bn-syndicated-loan-from-asian-lenders\" style=\"\" rel=\"noopener\">USD 1.5 bn<\/a>, largely from Greater China lenders, while Abu Dhabi\u2019s ADQ closed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/45085452-cba7-4d5b-8549-460f55257b72\/abu-dhabi-sovereign-funds-return-to-debt-markets\" style=\"\" rel=\"noopener\">USD 5 bn<\/a> facility in October, tapping a similar investor base.<\/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> #3- <\/strong><strong>IPO rush continues:<\/strong> Saudi Exchange CEO Mohammed Al Rumaih says more than 40 companies IPO-ed this year and another 40 have already filed applications, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-12-01\/saudis-tout-vibrant-ipo-pipeline-ahead-of-more-market-reforms\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports citing statements he made at the FII Priority Asia Summit in Tokyo. The broader pipeline expands to as many as 100 firms when including companies now tapping advisers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT- Issuers already raised USD 4.5 bn across the main market and Nomu in <\/strong><strong>2025<\/strong>, the strongest year for IPO proceeds since 2022, led by PIF-backed airline Flynas and Mecca developer Umm Al Qura.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market conditions are looking unfavorable for newcomers:<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a57176cb-8cc3-486b-bcb3-6f5a79c0887a\/november-unwinds-tasi%25e2%2580%2599s-october,-september-gains-9%2525-drop\" style=\"\" rel=\"noopener\">TASI sits 12% lower YTD<\/a>, on track for its worst year since 2015. Weak index performance has already slowed PIF-linked listings and weighed on recent debuts \u2014 more recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ce8e31e5-6a81-489c-b46e-06b3958effc2\/%253cmark%253echerry-trading%253c%2Fmark%253e-dips-on-tadawul-debut\" style=\"\" rel=\"noopener\">Cherry Trading<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh is pushing ahead with sweeping market reforms to draw foreign capital<\/strong>, including plans to open equity trading to all overseas investors and lift ownership caps, at a time when high spending and softer oil revenue are widening deficits.<\/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 and Hassan Allam Properties.<\/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> industry, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\" rel=\"noopener\">MENA <> India<\/a> corridor?<\/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>Russian President Vladimir Putin met US special envoy Steve Witkoff in Moscow <\/strong><strong>to discuss ways to end the war in Ukraine.<\/strong> Putin\u2019s aide Yuri Ushakov described the discussions as \u201cconstructive\u201d but said much work remains. The meeting followed US consultations with Ukrainian officials in recent weeks to revise a 28-point peace proposal criticized for favoring Moscow. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/witkoff-kushner-meet-putin-moscow-discuss-an-end-ukraine-war-2025-12-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cwyv0ex7v8ro\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2025\/12\/02\/putin-witkoff-kushner-meeting-ukraine-plan\" style=\"\" rel=\"noopener\">Axios<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/12\/02\/world\/europe\/putin-witkoff-trump-ukraine-meeting.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/world\/live-news\/trump-ukraine-russia-venezuela-12-02-2025\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2025\/12\/02\/russia-putin-witkoff-kushner-ukraine-talks-moscow\/\" 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>In Washington, US President Donald Trump said he will announce his nominee for <\/strong><strong>Federal Reserve chair in early 2026<\/strong>, naming White House economic adviser Kevin Hassett as a leading contender to replace Jay Powell when his term ends in May. Trump said the search, which once included about ten candidates, is now \u201cdown to one,\u201d though final interviews with senior officials will continue in the coming weeks. The president reiterated his criticism of Powell for not cutting interest rates fast enough. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d84661cb-26e6-4f55-8096-8ab4a8d47755\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/trump-says-new-federal-reserve-chair-be-announced-early-next-year-2025-12-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-12-02\/trump-says-he-ll-announce-new-fed-chair-early-next-year\" 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>Meanwhile in crypto markets, BTC climbed back above the USD 90k mark<\/strong>, rebounding after a steep selloff, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-12-02\/crypto-markets-steady-as-indicators-point-to-weak-sentiment?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. The recovery came after the Securities and Exchange Commission signaled plans for an \u201cinnovation exemption\u201d for digital asset firms and Vanguard announced it would allow trading of crypto-focused ETFs and mutual funds on its platform. Despite the recovery, sentiment remains fragile with traders staying cautious ahead of next week\u2019s Fed rate decision.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/paramount\/\">Paramount<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"102999\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/108985.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>The Luxury of Certainty<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103000\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"103000\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/fy2026-budget-unveiled-ahead-of-a-new-vision-2030-phase\/\">\r\n                            FY2026 budget unveiled ahead of a new Vision 2030 phase                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/fy2026-budget-unveiled-ahead-of-a-new-vision-2030-phase\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Spending levels should not to be affected by volatility in oil prices, as the Kingdom wants to maintain stable plans to shore up the confidence of investors and the private sector, Finance Minister Mohammed Al Jadaan said at a briefing yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total spending is expected to decline to SAR 1.31 tn in FY2026<\/strong>, compared to an estimated SAR 1.34 tn this fiscal year, according to the budget statement (pdf). Meanwhile, revenues are set to rebound to SAR 1.15 tn after falling to SAR 1.09 tn in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The biggest earmarks: <\/strong>Health and social development (SAR 259 bn), the military (SAR 240 bn), education (SAR 202 bn), and public security (SAR 120 bn). The government plans to maintain the high levels of spending in 2027 and 2028, but spending will shift to priority sectors like industry, logistics, AI and tourism to shore up non-oil growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- Vision 2030 enters its third phase in FY2026<\/strong>, which will focus on intensifying implementation of major projects and accelerating achievements to cement impact beyond the 2030 mark. <strong>GDP growth<\/strong> is penciled in at 4.6% next year, slowing to 3.7% in FY2027. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ministry is targeting a deficit of SAR 165 bn<\/strong>, or 3.3% of GDP, significantly lower than the SAR 245 bn (5.3% of GDP) estimated for the current fiscal year. Deficits are expected to continue over the medium term, albeit at lower levels, as the government aims to balance between responding to economic cycles and achieving fiscal sustainability targets, the statement said.<\/p>\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\/12\/164.png?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe current level of deficit is a policy choice<\/strong>. We need to invest in our economy to enable the private sector, and as long as the return on these investments is higher than the cost of the debts, we would continue that drive for the foreseeable future,\u201d Al Jadaan said at the budget briefing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Debt is expected to amount to SAR 1.62 tn in FY2026 (32.7% of GDP)<\/strong>, up from an estimated SAR 1.46 tn in FY2025. \u201cWe are very careful to not oversupply the market,\u201d Al Jadaan said, noting that only half of issuances this year happened through public markets to avoid risks and leave room for the private sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We could see higher levels of debt<\/strong>, but still below 40% of GDP, chief economist at Abu Dhabi Commercial Bank Monica Malik told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-12-02\/saudis-won-t-let-low-oil-distract-from-spending-borrowing-plans\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, adding that sharp falls in oil prices remain a risk that could lead to a bigger deficit.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/budget-watch\/\">budget watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103002 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"103002\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/103002\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-103002\" class=\"content-area-description single-story post-103002 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.facebook.com\/HassanAllamProperties?_rdc=1&amp;_rdr#\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/424.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103003\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"103003\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/almasar-education-bucks-a-bruising-year-for-saudi-ipos\/\">\r\n                            Almasar Education gains over 18% on Tadawul debut                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/almasar-education-bucks-a-bruising-year-for-saudi-ipos\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The stock traded between a high SAR 23.1 and a low of SAR 18.33, briefly dipping below its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/da19e96c-a127-4c58-9ea6-61ccbdfd857f\/%253cmark%253ealmasar%253c%2Fmark%253e-education%25e2%2580%2599s-ipo-draws-strong-demand-with-orders-exceeding-sar-60-bn\" style=\"\" rel=\"noopener\">final offer price of SAR 19.50<\/a>, before settling at the top end of that range. Around 21.4 mn shares changed hands across 41k trades worth SAR 450.4 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(**<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Usual caps apply: <\/strong>Almasar\u2019s shares can move within a 30% band on debut, with a 10% static limit in place for the first three sessions. From day four onward, volatility is capped at 10% as circuit breakers kick in.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A strong open after a heavily oversubscribed IPO:<\/strong> The K-12 school operator\u2019s strong debut follows a well-covered offering, with the institutional tranche closing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/da19e96c-a127-4c58-9ea6-61ccbdfd857f\/%253cmark%253ealmasar%253c%2Fmark%253e-education%25e2%2580%2599s-ipo-draws-strong-demand-with-orders-exceeding-sar-60-bn\" style=\"\" rel=\"noopener\">102.9x oversubscribed<\/a> and the retail portion <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/86b609c5-8ef9-49fe-8248-6627ba19ce11\/%253cmark%253ealmasar%253c%2Fmark%253e-education-wraps-up-tadawul-ipo,-with-retail-portion-1.2x-oversubscribed\" style=\"\" rel=\"noopener\">1.21x covered<\/a>. The company floated a 30% stake in a fully secondary offering from its then-sole owner Amanat, raising SAR 599 mn. This places it around mid-table among this year\u2019s Tadawul listings by proceeds, sitting just behind <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3f626ba2-0121-45c3-8bc6-aaac59926c11\/united-carton-industries%25e2%2580%2599-ipo-sees-muted-debut-on-tadawul\" style=\"\" rel=\"noopener\">United Carton Industries<\/a> (SAR 600 mn) and ahead of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b3ed37d1-f491-4775-9143-c9d31ae7d820\/%253cmark%253eentaj%253c%2Fmark%253e-foods%25e2%2580%2599-share-price-jumps-30%2525-in-main-market-debut\" style=\"\" rel=\"noopener\">Entaj<\/a> (SAR 450 mn).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- Almasar\u2019s debut lands in a market that\u2019s been under heavy pressure<\/strong>, with Tadawul\u2019s benchmark index TASI sliding 9.1% in November to about 10.6k points dragging its YTD loss to roughly 12% \u2014 its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a57176cb-8cc3-486b-bcb3-6f5a79c0887a\/november-unwinds-tasi%25e2%2580%2599s-october,-september-gains-9%2525-drop\" style=\"\" rel=\"noopener\">sharpest monthly drop since mid-2022 and steepest YTD slump in a decade<\/a>. Analysts say the pullback reflected liquidity pressures, capital rotating into IPOs, cautious positioning, and a rapid unwinding of speculative wagers after mixed signals on foreign-ownership caps. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it bucked the trend:<\/strong> Almasar came to market with a set of tailwinds few other issuers enjoyed. The school operator had a visible expansion pipeline at a time when defensives held up far better than cyclicals in a liquidity-strained market. Its SAR 599 mn float was also fully secondary, meaning no new supply hit the market, and the size was manageable relative to current liquidity conditions. Together, that may have helped strong demand translate more cleanly into post-listing support and gave Almasar a clearer runway than most recent Tadawul debuts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to watch:<\/strong> The company plans to deploy <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f3e01766-e30e-42e4-adc2-24c4ae5857c3\/amanat-holding-issues-prospectus-for-its-education-unit%25e2%2580%2599s-ipo-on-tadawul\" style=\"\" rel=\"noopener\">SAR 115 mn in capex<\/a> in Saudi Arabia to expand its special-needs daycare footprint and open 15 new schools and centers over the next two years, 50-70% of which is already invested. CEO Fadi Habib has also signaled ambitions to scale higher-education offerings in KSA, mirroring the growth trajectory of its domestic portfolio, including <a target=\"_blank\" href=\"https:\/\/www.mdx.ac.ae\/\" style=\"\" rel=\"noopener\">Middlesex University Dubai<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Our friends at EFG Hermes KSA co-managed bookbuilding alongside SNB Capital who is quarterbacking the transaction as financial advisor, bookrunner, and underwriter with Clifford Chance acting as counsel to the issuer. Baker Mackenzie is advising the bookrunner, while PwC is handling financial and tax due diligence. Euromonitor International provided market research, and Deloitte is acting as auditor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amanat may not be <\/strong><strong>done listing<\/strong><strong> in Saudi: <\/strong>Almasar\u2019s strong debut could also bolster its parent company\u2019s appetite for a second Saudi listing. The Dubai-based firm was previously reported to have mandated EFG Hermes and First Abu Dhabi Bank (FAB) to explore an IPO of its healthcare arm \u2014 a transaction that could raise around USD 200 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO IN THE PIPELINE-<\/strong><\/p>\n<ul>\n<li><strong>EFSIM Facilities Management <\/strong>set its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8548438d-50d3-4188-9357-311265a10a32\/%253cmark%253eefsim%253c%2Fmark%253e-facilities-sets-ipo-price-range-at-sar-19-20\" style=\"\" rel=\"noopener\">IPO price range<\/a> at SAR 19-20 per share earlier this week; <\/li>\n<li><strong>Consolidated Gr\u00fcnenfelder Saady Holding\u2019s (CGS)<\/strong> three-day retail offering <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5e4ee03f-1bb4-4998-934a-6086de585a14\/cgs-to-raise-sar-300-mn-from-tadawul%253cmark%253e-ipo%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">kicked off last week<\/a>, after it priced its IPO at the top of the range;<\/li>\n<li><strong>The Capital Market Authority (CMA)<\/strong> most recently signed off on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f613a81e-3ee8-4e2b-9d43-f18e0ab68f61\/opec%2B-to-keep-oil-output-levels-unchanged-today%3F\" style=\"\" rel=\"noopener\">Al Andalus Educational<\/a> \u2019s plan to float a 30% stake on Tadawul;<\/li>\n<li><strong>Nomu-listed Qomel\u2019<\/strong>s board approved its transition to the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f613a81e-3ee8-4e2b-9d43-f18e0ab68f61\/opec%2B-to-keep-oil-output-levels-unchanged-today%3F\" style=\"\" rel=\"noopener\">Tadawul\u2019s main market<\/a> appointing Estidamah Capital as its financial advisor for the move<\/li>\n<li><strong>IT firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/818c5d9d-7cee-447d-bd35-c9f1d1e15fca\/this-morning:-specialized-medical-company-lands-on-tadawul-today-%2B-jadwa-to-fully-divest-from-unipharma%3F\" style=\"\" rel=\"noopener\">Ejada Systems<\/a><\/strong>, which missed its six-month IPO window, is set to resubmit an IPO application to the CMA;<\/li>\n<li><strong>PIF-backed<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d0a3467a-abf0-4f2c-8d69-2b65e3040ff1\/pif%25e2%2580%2599s%253cmark%253e-saudi-global-ports%253c%2Fmark%253e-taps-banks-for-potential-ipo\" style=\"\" rel=\"noopener\">Saudi Global Ports<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8a3c56cc-ebf9-417c-8382-0816af5b9a75\/real-madrid-vs-barcelona-at-king-abdullah-sports-city-today\" style=\"\" rel=\"noopener\">Tabreed District Cooling<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1c55c7a4-ce77-4a0c-a7bd-1ad23a8256e0\" style=\"\" rel=\"noopener\">Medical procurement firm Nupco<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e94781b0-45da-48a8-afe3-89c2b6a7897a\/future-minerals-forum-kicks-off-today\" style=\"\" rel=\"noopener\">Riyad Capital<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2b55cbd6-eb2f-4596-8f56-69fabca00764\/%253cmark%253etabby%253c%2Fmark%253e-taps-advisors-for-potential-ipo-%2B-phytome-mulls-move-to-saudi\" style=\"\" rel=\"noopener\">BNPL platform Tabby<\/a> are among companies that tapped banks for potential IPOs;<\/li>\n<li><strong>F&B players Barns, Half Mn, Deemah, and Hashi Bashi<\/strong> are said to be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/03e87751-b8eb-41af-9041-b9414c742b39\/neom-to-confirm-aiman-al-mudaifer-as-ceo%3F\" style=\"\" rel=\"noopener\">sounding out banks<\/a> for potential debuts on the main market;<\/li>\n<li><strong>Almosafer<\/strong> is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6e69fe20-d984-43b1-9a85-3103ab156bcb\/non-oil-sector-in-the-kingdom-remains-resilient--fitch\" style=\"\" rel=\"noopener\">preparing<\/a> for a public listing on Tadawul by late 2025 or early 2026;<\/li>\n<li><strong>Alternative hospitality platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a7d951d5-f621-42fa-bbd0-97e4b7b478fc\/gathern-readies-for-2028%253cmark%253e-ipo%253c%2Fmark%253e-%2B-riyadh-integrated-plans-for-next-phase\" style=\"\" rel=\"noopener\">Gathern<\/a><\/strong>, local contractor <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/85a67ebc-88c3-41ee-a01c-fce1d105d51b\/sports-ministry-kicks-off-tender-process-for-al-najma-%2B-al-okhdood\" style=\"\" rel=\"noopener\">Mutlaq Al Ghowairi Contracting (MGC)<\/a>, PIF-backed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6e69fe20-d984-43b1-9a85-3103ab156bcb\/non-oil-sector-in-the-kingdom-remains-resilient--fitch\" style=\"\" rel=\"noopener\">CloudKitchens<\/a>, fast delivery app <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3e0b9f69-53e0-44dd-a53c-802e087bd002\/savvy-games-is-lining-up-multi-bn-usd-acquisitions-in-asia-%2B-ninja-is-gearing-up-for-a-2026-ipo%3F\" style=\"\" rel=\"noopener\">Ninja<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f6ab4e19-978b-4a59-9c3d-1bbaa1fddac1\/%253cmark%253ecalo%253c%2Fmark%253e-steps-into-uk-with-fresh-fitness-food,-detox-kitchen-acquisition.-plus:-cma-approves-al-rajhi%25e2%2580%2599s-sar-10-bn-debt-issuance\" style=\"\" rel=\"noopener\">Meal subscription startup Calo<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/68e1b4bc-2436-4b73-9c57-4be80511b48a\/opec%2B-accelerates-output-hikes-for-august\" style=\"\" rel=\"noopener\">Emkan Finance, and Tamweel Aloula<\/a> are all said to be considering Tadawul IPOs.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/almasar-education\/\">Almasar Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section 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data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"294.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/294.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/294.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-103005\" class=\"content-area-description single-story post-103005 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-banking tag-enterpriseam-ksa tag-saudi-arabia-monetary-authority wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/12\/.5a4d0e61-73a9-4dec-b6ad-5db75ec70908.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Net foreign assets\u2019 surplus in the Kingdom\u2019s banking sector declined for the <\/strong><strong>second consecutive month in October to SAR 1.42 tn<\/strong>, down from SAR 1.45 tn in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ed2d16ee-5e90-42f3-8d28-925a253fc7be\/net-foreign-assets%25e2%2580%2599-surplus-shrinks-to-sar-1.45-tn-in-september\" style=\"\" rel=\"noopener\">September<\/a>, according to the Saudi Central Bank\u2019s (Sama) latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/30.pdf\" style=\"\" rel=\"noopener\">monthly statistical bulletin (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> Sama\u2019s net foreign assets ended October with a surplus of SAR 1.57 tn, down from SAR 1.6 tn in September. Meanwhile, commercial banks saw their deficit soaring to SAR 154.9 bn in October from SAR 146.5 bn a month earlier.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The total assets of commercial banks inched up to SAR 4.94 tn <\/strong>by the end of October, compared to just under SAR 4.93 tn in the previous month, representing a 13% y-o-y rise. Bank credit across all segments increased 13.8% y-o-y to SAR 3.3 tn by the end of the month.<\/p>\n<p><strong>Personal loans continued to dominate credit,<\/strong> coming in at more than SAR 1.43 tn, followed by corporate credit to real estate activities with SAR 383 bn, wholesale and retail trade at SAR 215 bn, and electricity, gas, and water supplies at around SAR 213.4 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE-<\/strong> Residential mortgages financed by banks went down for the third month in a row, and it slumped 31.5% y-o-y to just above SAR 5.5 bn during the same period, with a total of 8.03k contracts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Settled letters of credit financing private sector imports decreased 7.1% y-o-y to SAR 14.3 bn<\/strong> by the end of October. Around SAR 1.9 bn went to building materials, while SAR 1.8 bn was allocated to vehicles, SAR 1.4 bn for food items, SAR 658 mn for machinery, and SAR 601 mn for appliances.<\/p>\n<p><strong>New letters of credit <\/strong>\u2014 an indicator for future imports \u2014 surged 6.7% y-o-y to SAR 15.9 bn by the end of the month. This included around SAR 3.5 bn for motor vehicles, SAR 1.6 bn for building materials, SAR 698 mn for machinery, SAR 995 mn for food items, and SAR 988 mn for appliances.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> Broad money supply (M3) increased 6.9% y-o-y to SAR 3.1 tn by the end of October. Demand deposits (45.1%) topped the list of currency supply components, followed by time and savings deposits (37%), other quasicash deposits (10.3%), and banknotes in circulation outside banks (7.7%). Meanwhile, total liabilities reached over SAR 5.4 tn, recording a 6.9% y-o-y increase.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>M3 is the broadest measure of money supply in a given economy. It includes banknotes, current accounts, and other money that can be quickly mobilized (what econ-nerds call M2) as well as large time deposits, institutional money market funds, short-term repurchase agreements, and larger liquid funds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gov\u2019t bonds went up again in October: <\/strong>Government bonds jumped for the third straight month in October to SAR 648.4 bn, marking an increase of 11.8% y-o-y. Meanwhile, bank credit to public institutions increased 37.3% y-o-y to SAR 246.9 bn.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/banking\/\">BANKING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-arabia-monetary-authority\/\">Saudi Arabia Monetary Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103007 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"103007\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/103007\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-103007\" class=\"content-area-description single-story post-103007 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1942.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103008\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"103008\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/alramz-sees-strong-institutional-demand\/\">\r\n                            Alramz prices main market IPO top of range at SAR 70 a pop                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/alramz-sees-strong-institutional-demand\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/alramz-sees-strong-institutional-demand\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/alramz-sees-strong-institutional-demand\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Alramz sees strong institutional demand&url=https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/alramz-sees-strong-institutional-demand\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/alramz-sees-strong-institutional-demand\/&title=Alramz sees strong institutional demand\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Alramz+sees+strong+institutional+demand+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F12%2F03%2Falramz-sees-strong-institutional-demand%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/alramz-sees-strong-institutional-demand\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/162.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"103009\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/alramz-sees-strong-institutional-demand\/162-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/162.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"162.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/162.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/162.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-103008\" class=\"content-area-description single-story post-103008 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-alramz-real-estate tag-enterpriseam-ksa tag-ipo-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/12\/.88cd3363-1c99-4814-9793-2302468528af.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Alramz Real Estate priced its Tadawul IPO at SAR 70 per share<\/strong>, the top of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5a23526c-f400-46ef-9c09-afb5dfda7bd4\/%253cmark%253ealramz%253c%2Fmark%253e-real-estate-sets-ipo-price-range,-could-raise-sar-900-mn\" style=\"\" rel=\"noopener\">the<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5a23526c-f400-46ef-9c09-afb5dfda7bd4\/%253cmark%253ealramz%253c%2Fmark%253e-real-estate-sets-ipo-price-range,-could-raise-sar-900-mn\" style=\"\" rel=\"noopener\">range it was guiding on<\/a>, after its institutional offering was 11.1x covered, drawing roughly SAR 10 bn in orders, it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/82.pdf\" style=\"\" rel=\"noopener\">a press release (pdf)<\/a>. The final offer price will see it raise SAR 900.2 mn in gross IPO proceeds, according to our calculations, implying a market cap of SAR 3 bn at listing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:<\/strong> Retail investors will get a three-day subscription period for 20% of the shares on offer starting Sunday, 7 December. They will be able to apply for up to 250k shares each, with a minimum of 10 shares, according to the prospectus. Final allocations will be made on Monday, 15 December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Alramz is floating 12.86 mn new shares, representing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/55ae0622-6e79-4932-9801-44b2914ec1c7\/%253cmark%253ealramz%253c%2Fmark%253e-to-take-30%2525-stake-to-tadawul\" style=\"\" rel=\"noopener\">30% of its post-IPO capital<\/a>, on Tadawul\u2019s main market. The IPO will raise the company\u2019s capital to SAR 428.57 mn from SAR 300 mn once the sale wraps up. Alramz has already locked in cornerstone commitments for 2.7 mn shares. All proceeds \u2014 minus SAR 27 mn in offering expenses \u2014 will go to the company which plans to channel roughly 37% of them into project development, 36% into launching new real estate funds, and the remaining 23% toward general corporate purposes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where it ranks among its peers: <\/strong>With SAR 900.2 mn in proceeds, Al Ramz lands amongst the largest Tadawul main-market IPO of 2025, sitting just behind <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b24c15de-e0cc-432a-9236-85727e17ba33\/nice-one-shares-rise-30%2525-on-first-day-of-tadawul-trading\" style=\"\" rel=\"noopener\">Nice One<\/a> (SAR 908 mn) and ahead of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3f626ba2-0121-45c3-8bc6-aaac59926c11\/united-carton-industries%25e2%2580%2599-ipo-sees-muted-debut-on-tadawul\" style=\"\" rel=\"noopener\">United Carton Industries<\/a> (SAR 600 mn) and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6b5fae40-d3a6-4135-9988-2a1b5a93f24f\/almasar-education-wraps-up-tadawul-ipo,-with-retail-portion-1.2x-oversubscribed\" style=\"\" rel=\"noopener\">Almasar Education<\/a> (SAR 599 mn).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>SNB Capital is quarterbacking the transaction as the financial advisor, lead manager, bookrunner, and underwriter.<strong> Receiving agents <\/strong>include SNB Capital, BSF Capital, Al Rajhi Capital, Sab Invest, Alinma Capital, Riyad Capital, AlJazira Capital, Alistithmar Capital, AlBilad Investment, ANB Capital, Derayah Financial, Yaqeen Capital, AlKhabeer Capital, Sahm Capital, GIB Capital, Musharaka Financial, EFG Hermes KSA, and Awaed Financial Assets.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alramz-real-estate\/\">Alramz Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103010\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"103010\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEFENSE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/us-approves-usd-1-bn-military-sales-to-saudi-arabia\/\">\r\n                            US approves USD 1 bn military sales to Saudi Arabia                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/us-approves-usd-1-bn-military-sales-to-saudi-arabia\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/us-approves-usd-1-bn-military-sales-to-saudi-arabia\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/us-approves-usd-1-bn-military-sales-to-saudi-arabia\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=US approves USD 1 bn military sales to Saudi Arabia&url=https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/us-approves-usd-1-bn-military-sales-to-saudi-arabia\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/us-approves-usd-1-bn-military-sales-to-saudi-arabia\/&title=US approves USD 1 bn military sales to Saudi Arabia\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=US+approves+USD+1+bn+military+sales+to+Saudi+Arabia+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F12%2F03%2Fus-approves-usd-1-bn-military-sales-to-saudi-arabia%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/us-approves-usd-1-bn-military-sales-to-saudi-arabia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/176.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"103011\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/us-approves-usd-1-bn-military-sales-to-saudi-arabia\/176-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/176.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"176.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/176.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/176.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-103010\" class=\"content-area-description single-story post-103010 post type-post status-publish format-standard has-post-thumbnail hentry category-defense tag-defense tag-enterpriseam-ksa tag-military tag-us-saudi-relations wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/12\/.15efbb48-bb6e-4b9c-9c6a-6ad01136fa15.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> US approves military sales to Saudi Arabia:<\/strong> The US State Department has approved two potential military sales to Saudi Arabia totaling USD 1 bn to provide aviation training and logistics support, according to separate statements. The agreements are intended to strengthen the operations of the Royal Saudi Land Forces Aviation Corps.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Logistics support:<\/strong> The first <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/104.pdf\" style=\"\" rel=\"noopener\">agreement (pdf)<\/a>, valued at an estimated USD 500 mn, covers a logistics package to supply spare parts and repairs. The package is designed to support the maintenance of the Kingdom\u2019s fleet of UH-60 Black Hawk, AH-64 Apache, and CH-47F Chinook helicopters, as well as other aircraft.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Training services:<\/strong> The second USD 500 mn <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/105.pdf\" style=\"\" rel=\"noopener\">approval (pdf)<\/a> is for an aviation training services program, including comprehensive flight and maintenance training led by US Army instructors for crews operating AH-64E Apache, CH-47F Chinook, UH-72A Lakota, and UH-60L\/M Black Hawk helicopters.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> <strong>Crown Prince Mohammed Bin Salman\u2019s visit to Washington is starting to <\/strong><strong>bear fruit<\/strong>. The visit saw the signing of a US-Saudi strategic defense agreement facilitating access for US defense firms into Saudi Arabia and securing \u201cburden-sharing\u201d funds from the Kingdom, as well as a defense sale package that included future deliveries of the long-anticipated F-35 jets and an agreement to sell nearly 300 US tanks.<\/p>\n<ul>\n<li><strong>Saudi was also designated as a major non-Nato ally<\/strong>, paving the way for more financing and priority access for military equipment, as well as participation in joint research efforts.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/defense\/\">Defense<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/military\/\">military<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/us-saudi-relations\/\">US-Saudi relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103012\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"103012\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/cybersecurity-startup-cognna-closes-series-a-funding\/\">\r\n                            Cybersecurity startup Cognna closes series A funding                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/cybersecurity-startup-cognna-closes-series-a-funding\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/cybersecurity-startup-cognna-closes-series-a-funding\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/cybersecurity-startup-cognna-closes-series-a-funding\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Cybersecurity startup Cognna closes series A funding&url=https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/cybersecurity-startup-cognna-closes-series-a-funding\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/cybersecurity-startup-cognna-closes-series-a-funding\/&title=Cybersecurity startup Cognna closes series A funding\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Cybersecurity+startup+Cognna+closes+series+A+funding+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F12%2F03%2Fcybersecurity-startup-cognna-closes-series-a-funding%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/cybersecurity-startup-cognna-closes-series-a-funding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/169.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"103013\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/cybersecurity-startup-cognna-closes-series-a-funding\/169-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/169.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"169.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/169.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/169.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-103012\" class=\"content-area-description single-story post-103012 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam-ksa tag-startup-watch tag-tech wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/12\/.0db4eb41-9687-4df2-8d0d-54c359d71759.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> AI-driven cybersecurity firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cognna.com\/\" style=\"\" rel=\"noopener\">Cognna<\/a><\/strong><strong> closed a series A funding round at USD 9.2 mn<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.cognna.com\/blog\/series-a-funding-cybersecurity\" style=\"\" rel=\"noopener\">press release<\/a>. The round was led by Impact46 with participation from BNVT Capital, Vision Ventures, and Tali Ventures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds: <\/strong>The funds will be utilized to accelerate Cognna\u2019s global expansion, enhance its Agentic AI capabilities, and strengthen its leadership in AI-powered Security Operations Centers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Cognna:<\/strong> Founded in 2023 by Ziyad Alshehri (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/zshehri\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) and Ibrahim Alshamrani (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ibrahimis\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), the company develops AI-powered tools to help organizations detect and respond to threats. Its Nexus platform combines automated processes with human oversight to manage cybersecurity operations efficiently, reduce costs, and integrate quickly into existing systems.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tech\/\">tech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103014\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"103014\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/uks-buro-happold-is-the-lead-design-consultant-for-expo-2030\/\">\r\n                            UK\u2019s Buro Happold is the lead design consultant for Expo 2030                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/uks-buro-happold-is-the-lead-design-consultant-for-expo-2030\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/uks-buro-happold-is-the-lead-design-consultant-for-expo-2030\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/uks-buro-happold-is-the-lead-design-consultant-for-expo-2030\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=UK\u2019s Buro Happold is the lead design consultant for Expo 2030&url=https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/uks-buro-happold-is-the-lead-design-consultant-for-expo-2030\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/uks-buro-happold-is-the-lead-design-consultant-for-expo-2030\/&title=UK\u2019s Buro Happold is the lead design consultant for Expo 2030\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=UK%E2%80%99s+Buro+Happold+is+the+lead+design+consultant+for+Expo+2030+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F12%2F03%2Fuks-buro-happold-is-the-lead-design-consultant-for-expo-2030%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/uks-buro-happold-is-the-lead-design-consultant-for-expo-2030\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/167.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"103015\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/uks-buro-happold-is-the-lead-design-consultant-for-expo-2030\/167-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/167.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"167.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/167.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/167.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-103014\" class=\"content-area-description single-story post-103014 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam-ksa tag-expo-2030 wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/12\/.d6430e08-ff21-4f83-b32b-4ccce33415f2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CONSTRUCTION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Buro Happold is the lead design consultant for Expo 2030:<\/strong> UK-based engineering consultancy Buro Happold inked an agreement with Expo 2030 Riyadh Company to become the lead design consultant for the event, according to a <a target=\"_blank\" href=\"https:\/\/www.burohappold.com\/news\/buro-happold-signs-landmark-contract-with-expo-2030-riyadh-company\/?utm_source=chatgpt.com\" style=\"\" rel=\"noopener\">press release<\/a>. It will provide comprehensive design and technical services spanning the detailed master plan, event and legacy-phase planning, infrastructure and utility design, public-realm and landscape work, and engineering support during construction.<\/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\">RETAIL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cenomi Centers officially renamed Al Nakheel Mall Dammam to Westfield Dammam<\/strong>, the first mall in the Kingdom to carry the global brand under a plan that will extend to rebranding two additional centers in Riyadh and Jeddah next year, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/101.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The rebranding is expected to attract several international brands preparing to enter either Westfield Dammam or the Eastern Province for the first time in the coming months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Cenomi Centers <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7ba2efd2-1029-4e72-8383-2398f6a36f3a\/unified-attorney-fee-contract-rolled-out-via-nafith-platform\" style=\"\" rel=\"noopener\">signed<\/a> a 10-year franchise agreement \u2014 renewable for an additional 10 years \u2014 with France-based Unibail-Rodamco-Westfield back in May to bring the Westfield brand to its shopping centers in the Kingdom. The agreement included the rebranding of up to eight of Cenomi\u2019s malls as Westfield centers, beginning with three major sites in Riyadh, Jeddah, and Dammam.<\/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\">MINING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Industry and Mineral Resources Ministry opened up bids for three mineral exploration <\/strong><strong>licences spanning 13k sq km<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.mim.gov.sa\/en\/media-center\/news\/ministry-industry-10th-exploration-round-3-belts\" style=\"\" rel=\"noopener\">statement<\/a> on Monday. The licenses cover new belts in Madinah, Makkah, Riyadh, Qassim and Hail, prospective for gold, silver, copper, and zinc. Companies can apply through the <a target=\"_blank\" href=\"https:\/\/taadeen.sa\" style=\"\" rel=\"noopener\">Taaden<\/a> platform.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/expo-2030\/\">Expo 2030<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103016\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"103016\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/pundits-pencil-in-rate-cut-next-week-as-fed-divisions-widen-on-where-the-cycle-should-stop\/\">\r\n                            Pundits pencil-in rate cut next week as Fed divisions widen on where the cycle should stop                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/pundits-pencil-in-rate-cut-next-week-as-fed-divisions-widen-on-where-the-cycle-should-stop\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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This would come on the heels of two 25 bps cuts <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f4fa3768-a450-4162-a3d6-e6bdaa1bfbb6\/%253cmark%253efed%253c%2Fmark%253e-cuts-rates-for-the-first-time-this-year,-resuming-widely-anticipated-easing-cycle\" style=\"\" rel=\"noopener\">in September<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/63354d75-f1f1-4402-896d-7b51aa4e20d7\/%253cmark%253efed%253c%2Fmark%253e-delivers-second-rate-cut-this-year\" style=\"\" rel=\"noopener\">October<\/a>, with the latest cut bringing the target range down to 3.75-4% as policymakers grappled with weak labor data and murky economic indicators in the wake of the government shutdown.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This also comes as a lack of consensus among Fed officials deepe<\/strong><strong>ns.<\/strong> Fed Chair Jerome Powell noted \u201cstrongly differing views\u201d within the rate-setting committee over whether to focus on price stability or maximum employment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Policymakers are also split about what a neutral rate \u2014 the level that neither st<\/strong><strong>imulates nor restrains the economy \u2014 would be<\/strong> ahead of Fed officials giving their predictions next week, with estimates diverging more than at any point since 2012, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-12-02\/federal-reserve-interest-rate-decision-likely-to-show-divide?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Estimations from September put it between 2.6-3.9%, with 19 officials coming up with 11 different predictions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s always some disagreement over where the neutral rate<\/strong> \u2014 also known as r-star \u2014 is, especially because it can only be inferred and later judged in the rearview mirror, but this time, the degree of disagreement is more intense \u2014 and potentially, more consequential. \u201cIt starts to become potentially a binding constraint for some of the more hawkish Fed members,\u201d Stephen Stanley, chief US economist for Santander, said. \u201cIt definitely means that each successive cut becomes harder and harder.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AI + tariffs influencing the outlook: <\/strong>Broader AI adoption could lift productivity and push the neutral rate higher, according to Minneapolis Fed President Neel Kashkari. Investment in AI, along with supportive fiscal and monetary policies, were cited as factors helping the global economy cope with US President Donald Trump\u2019s tariff agenda, according to an OECD report cited by <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-12-02\/world-economy-shows-surprising-resilience-to-tariffs-oecd-says\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Fed Governor Stephen Miran, on the other hand, maintains that US policies like tariffs and tax cuts may be pushing neutral rates lower, supporting the case for more easing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>A changing of the guard at the Federal Reserve in 2026 could also reshape views on the neutral rate, with incoming policymakers expected to lean toward lower interest rates \u2014 adding another layer of uncertainty to the path of future policy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of: <\/strong>US President Donald Trump is set to announce the new Fed Chair early next year, he said last week, and White House economic adviser Kevin Hassett is a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/hassett-may-be-shadow-fed-chair-five-months-2025-12-01\/\" style=\"\" rel=\"noopener\">top contender<\/a>. His election would grant Trump a 5-2 majority on the board of the central bank. <\/p>\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mostly in the green<\/strong> after Wall Street indices rallied yesterday, with South Korea\u2019s Kospi leading gains with a c.1.1% rise, Japan\u2019s Nikkei climbing more than 0.7%, and China\u2019s CSI 300 adding 0.2%. Hong Kong\u2019s Hang Seng was the only outlier, dipping 0.7%. <strong>Over on Wall Street<\/strong>, futures point to another strong open on the heels of the tech-fueled rally. <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,536<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: -12.46%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,384<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: -8.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">23,719<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2% (YTD: -24.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.5% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.0% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">40,626<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +36.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,747<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +3.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,837<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +13.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,829<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +16.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,702<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +18.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,686<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +16.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 62.45<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4.86<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4,250<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 91,655<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+6.0% (YTD: -2.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Sukuk\/bond market index<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">918.71<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.03% (YTD: 1.84%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P MENA Bond &amp; Sukuk<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">151.91<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +8.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">16.59<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.8% (YTD: -4.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI <\/strong>was down 0.1% <strong>yesterday <\/strong>on turnover of SAR 3.8 bn. The index is down 12.5% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Al Masar Al Shamil (+18.4%), Albabtain (+3.6%) and Acwa Power (+3.3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Herfy Foods (-5.4%), Chubb (-4.7%) and Sidc (-4.6%).<\/p>\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong> was down 1.2% <strong>yesterday <\/strong> on turnover of SAR 12.5 mn. The index is down 24.64% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Almodawat (+7.2%), Wajd Life (+6.0%) and Mufeed (+5.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Taqat (-10.0%), NBM (-10.0%) and Alfakhera (-9.8%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/us-federal-reserve\/\">US Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"103018\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/03\/103018\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-103018\" class=\"content-area-description single-story post-103018 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 November -11 December (Sunday-Thursday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/absher.tuwaiq.edu.sa\" style=\"\">Absher Tuwaiq Hakathon<\/a><\/span><span style=\"font-weight:400;\"> (remote).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-3 December (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudiindustrialtransformation.com\/\" style=\"\">Industrial Transformation Saudi Arabia<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-4 December (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iaea.org\/events\/epr2025\" style=\"\">International Conference on Nuclear and Radiological Emergencies<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-4 December (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/isocarp.org\/61st-isocarp-world-planning-congress\/\" style=\"\">61st ISOCARP World Planning Congress<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-4 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/blackhatmea.com\/tickets\/attendees?utm_id=A7569&utm_source=google&utm_medium=PMax_Conv&utm_campaign=BlackHatMEA_VisProm&utm_term=English&utm_content=static_Pink&gad_source=1&gad_campaignid=22950282934&gbraid=0AAAABBDc3dxWXmIdPrvKFHp8FSAnvtAg4&gclid=Cj0KCQiArOvIBhDLARIsAPwJXOaPrjPe6FHOtUdpnwD4z95NAjOCVnfg8qZ1m_gFK_5-cPltHSV_FwwaAmFUEALw_wcB\" style=\"\">Black Hat MEA<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Exhibition and Convention Center, Malham.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-5 December (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.beyondprofitforum.org\/en\" style=\"\">Beyond Profit Forum<\/a><\/span><span style=\"font-weight:400;\">, Ritz-Carlton Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7 December (Sunday): Beginning of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rega.gov.sa\/media-center\/%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/%D8%A8%D8%AF%D8%A1-%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D8%B3%D8%AC%D9%84-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D9%8A-%D9%81%D9%8A-499-%D8%AD%D9%8A-%D8%A7-%D8%A8%D9%85%D9%86%D8%A7%D8%B7%D9%82-%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6-%D9%88%D8%A7%D9%84%D9%82%D8%B5%D9%8A%D9%85-%D9%88%D9%85%D9%83%D8%A9-%D9%88%D8%AD%D8%A7%D8%A6%D9%84\/\" style=\"\">real estate registration<\/a><\/span><span style=\"font-weight:400;\"> for 253.2k properties in 499 neighborhoods across Riyadh, Qassim, Makkah, and Hail.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-9 December (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.comotionglobal.com\/\" style=\"\">CoMotion Global 2025<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-9 December (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/datewithtech.com\/\" style=\"\">Digital Acceleration and Transformation Expo<\/a><\/span><span style=\"font-weight:400;\"> (DATE), JW Marriott hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-9 December (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/careforsustainability.com\/\" style=\"\">Climate Action and Renewable Energy<\/a><\/span><span style=\"font-weight:400;\"> (CARE), JW Marriott hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9-10 December (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11 December (Thursday): Deadline for title deed registration for 214.2k properties across Riyadh and the Eastern Province.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11 December (Thursday): Public school holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-13 December (Thursday - Saturday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/absher.tuwaiq.edu.sa\" style=\"\">Absher Tuwaiq Hakathon<\/a><\/span><span style=\"font-weight:400;\"> (in-person).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-17 December (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/hostarabia.com.sa\/en\/\" style=\"\">Host Arabia<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Exhibition and Conference Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-17 December (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudihoreca.com\/\" style=\"\">Saudi HORECA<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Exhibition and Conference Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-17 December (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/globalairportsforum.com\/\" style=\"\">Global Airports Forum (GAF) 2025<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention and Exhibition Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19 December (Friday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudi-championship.com\/t-en\/%D8%A7%D9%84%D8%AC%D8%AF%D9%88%D9%84\" style=\"\">2025 Saudi Toyota Championship<\/a><\/span><span style=\"font-weight:400;\"> wraps up. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 December (Thursday): Title title deed registration deadline for 64.4k properties across neighborhoods in Madinah, Makkah, Riyadh, and the Eastern Province. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>31 December (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1353.aspx\" style=\"\">Zatca<\/a><\/span><span style=\"font-weight:400;\"> 22nd E-invoicing integration wave deadline.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>31 December (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/ar\/MediaCenter\/News\/Pages\/news_1395.aspx\" style=\"\">Cancellation of Fines and Exemption of Financial Penalties Initiative<\/a><\/span><span style=\"font-weight:400;\"> by the Zakat, Tax and Customs Authority (Zatca) deadline.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">December: Made in Saudi exhibition, Riyadh International Convention and Exhibition Center, Riyadh<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JANUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 January (Thursday): Title deed registration deadline for 54k properties in 77 neighborhoods across Riyadh, Makkah, and the Eastern Province. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 January (Thursday): Electronic salary transfer via the Musaned platform becomes mandatory for all domestic workers in the Kingdom.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10-18 January (Saturday-Sunday): Public school mid-year break. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-15 January (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futuremineralsforum.com\/\" style=\"\">Future Minerals Forum<\/a><\/span><span style=\"font-weight:400;\">, King Abdul Aziz International Conference Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 January (Thursday): Title deed registration deadline for 31.7k properties in 14 neighborhoods in the Eastern Province. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 January (Thursday): Title deed registration deadline for about 157.3k properties in 78 neighborhoods across the Eastern Province. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 January (Thursday): Title deed registration deadline for about 41.7k properties across 115 neighborhoods in Riyadh, Qassim, and the Eastern Province. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-21 January (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudihospitalbuild.com\/\" style=\"\">Saudi Hospital Design and Build Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-27 January (Monday-Tuesday): SuperReturn Saudi Arabia, Hotel Fairmont, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-27 (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/gprcsummit.com\/riyadh\/\" style=\"\">GPRC Summit<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudifranchiseexpo.com\/register.php?gad_source=1&gad_campaignid=22793915983&gbraid=0AAAAA9h6tmyEONAToP6OR1QzERDhh-EXL&gclid=Cj0KCQjw-NfDBhDyARIsAD-ILeBBxf3POYPZ2rW6JYNH1FJChq0nt3g8cyk-v0HezqrKnPiQBoY6plcaAkdFEALw_wcB\" style=\"\">Saudi Franchise Expo (SFE)<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Exhibition and Convention Centre, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.therff.com\/new\/index_en.php\" style=\"\">Real Estate Future Forum<\/a><\/span><span style=\"font-weight:400;\">, Four Seasons Hotel, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ifat-saudiarabia.com\/\" style=\"\">IFAT Saudi Arabia<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Exhibition & Conference Center, Riyadh,<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-28 (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.skymovemena.com\/\" style=\"\">SkyMove Air Cargo MENA<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28 (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/datacenternation.com\/dcn-riyadh-2026\/\" style=\"\">Data Center Nation Riyadh<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-30 (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.jttxsa.com\/\" style=\"\">Jeddah International Travel and Tourism Exhibition (JTTX)<\/a><\/span><span style=\"font-weight:400;\">, Jeddah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-4 (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudimf.sa\/en\" style=\"\">Saudi Media Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-4 (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ksawomenleaders.com\/\" style=\"\">Women Leaders Summit and Awards KSA<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-13 (Monday-Friday): 2026 Asian Road Cycling Championship and Paralympic Cycling, Qassim. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-4 (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rlcglobalforum.com\/\" style=\"\">RLC Global Forum Annual Meeting<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5-7 February (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/events.livgolf.com\/riyadh\/?_gl=1*19qe488*_gcl_au*MTU4NzcyNzgzNi4xNzU0NDg4ODYw*_ga*MTc2NzE5MTMxNi4xNzU0NDg4ODYw*_ga_CG4MZ7LYED*czE3NTQ0ODg4NTMkbzEkZzEkdDE3NTQ0ODkwMTckajU3JGwwJGgw&cp_landing_source=www.livgolf&utm_source=google&utm_medium=organic#tickets\" style=\"\">LIV Golf 2026 season opener<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Golf Club, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-12 February (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worlddefenseshow.com\/en\" style=\"\">World Defense Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention and Exhibition Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-10 February (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.globalgamesshow.com\/riyadh\/\" style=\"\">Global Games Show Riyadh 2026<\/a><\/span><span style=\"font-weight:400;\">, Malf Hall, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-14 February (Monday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.arcriyadh2026.com\/\" style=\"\">Asian Racing Conference<\/a><\/span><span style=\"font-weight:400;\">, Crowne Plaza Riyadh RDC Hotel & Convention Centre, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11 (Wednesday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/digitransformationsummit.com\/ksa\/register-now.html\" style=\"\">Digital Transformation Summit Saudi Arabia (DTS)<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-14 (Wednesday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/jeddaderm.zohobackstage.com\/JeddaDerm2025\" style=\"\">JeddaDerm<\/a><\/span><span style=\"font-weight:400;\">, Jeddah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-14 February (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.timeoutjeddah.com\/news\/formula-e-2026-jeddah-circuit\" style=\"\">Jeddah E-Prix 2026<\/a><\/span><span style=\"font-weight:400;\">, Jeddah.<br \/><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-17 February (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wamsaudi.com\/\" style=\"\">The World Advanced Manufacturing & Logistics Saudi Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">16 February (Monday) King Salman Stadium design-and-build contract prequalification submission deadline.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 February (Thursday): Title deed registration deadline for 142.8k properties across 104 neighborhoods in Hail.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARCH<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12 March (Thursday): Deadline for <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rega.gov.sa\/media-center\/%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/%D8%A8%D8%AF%D8%A1-%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D8%B3%D8%AC%D9%84-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D9%8A-%D9%81%D9%8A-499-%D8%AD%D9%8A-%D8%A7-%D8%A8%D9%85%D9%86%D8%A7%D8%B7%D9%82-%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6-%D9%88%D8%A7%D9%84%D9%82%D8%B5%D9%8A%D9%85-%D9%88%D9%85%D9%83%D8%A9-%D9%88%D8%AD%D8%A7%D8%A6%D9%84\/\" style=\"\">real estate registration<\/a><\/span><span style=\"font-weight:400;\"> for 253.2k properties in 499 neighborhoods across Riyadh, Qassim, Makkah, and Hail.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21 March (Saturday): Fanatics Flag Football Classic<\/span><span style=\"font-weight:700\">, <\/span><span style=\"font-weight:400;\">Kingdom Arena, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>31 March (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/ar\/MediaCenter\/News\/Pages\/news_1396.aspx\" style=\"\">Zatca<\/a><\/span><span>\u2019s 23rd E-invoicing integration wave deadline.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 April (Monday): Procurement and Supply Chain Futures Forum, Al Faisaliah Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-7 April (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.rscforum.com\/\" style=\"\">Real Estate Supply Chain Forum<\/a><\/span><span style=\"font-weight:400;\">, Al Faisaliah Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-15 April (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-pp.com\/\" style=\"\">Saudi Print & Pack<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-15 April (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/riyadhiiw.com\/\" style=\"\">Riyadh International Industry Week<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<br \/><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-15 April (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudipp.com\/\" style=\"\">Saudi Plastics & Petrochem<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-15 April (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-smartlogistics.com\/\" style=\"\">Saudi Smart Logistics<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-16 April (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/onegiantleap.com\/\" style=\"\">Leap Tech Conference<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Exhibition & Convention Center - Malham.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-22 April (Monday-Wednesday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futurehospitality.com\/sa\" style=\"\">Future Hospitality Summit<\/a><\/span><span style=\"font-weight:400;\">, Mandarin Oriental Al Faisaliah Al Faisaliah Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-22 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudisignageexpo.com\/saudi-paper-packaging-expo-2026\/\" style=\"\">Saudi Paper and Packaging Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21 April (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.legal500.com\/events\/gc-summit-saudi-arabia-2026\/\" style=\"\">GC Summit Saudi Arabia 2026<\/a><\/span><span style=\"font-weight:400;\">, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-29 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/rx-announces-the-launch-of-aluminium-arabia-in-riyadh-for-2026-y7qwfljt\" style=\"\">Aluminum Arabia<\/a><\/span><span>, The Arena, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-5 May (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudisf.com\/en\/\" style=\"\">Sports Investment Forum<\/a><\/span><span style=\"font-weight:400;\"> (SIF), Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-9 May (Sunday-Sunday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/globalsustainabilityexpo.com\/\" style=\"\">Global Sustainability Expo<\/a><\/span><span>, The Arena Riyadh Venue.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-24 June (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudifoodexpo.com\/\" style=\"\">Saudi Food Exhibition and Conference<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Expo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-17 September (Tuesday-Thursday) The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/globalaisummit.org\/en\/Pages\/About.aspx\" style=\"\">Global AI Summit<\/a><\/span><span style=\"font-weight:400;\">, King Abdulaziz International Convention Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-29 October (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldenergy.org\/experiences-events\/world-energy-congress\" style=\"\">World Energy Congress<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Signposted to happen sometime in 2026:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">2H: Sabic\u2019s USD 6.4 bn Fujian project in China to start production in 2026.<\/span><\/li>\n<li><span style=\"font-weight:400;\">November: UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.<\/span><\/li>\n<li><span style=\"font-weight:400;\">November: The Esports Nations Cup, Riyadh.  <\/span><\/li>\n<li><span>The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/intervision.world\/en\/\" style=\"\">Intervision<\/a><\/span><span style=\"font-weight:400;\"> international music competition will take place in Saudi Arabia.<\/span><\/li>\n<li><span>6 July-23 August (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/posts\/mike-mccabe-600532_esportsworldcup-ewc2026-esports-activity-7383046360637456384-FXWl?utm_source=share&utm_medium=member_desktop&rcm=ACoAADcc9s0BqbX_KIfcdiR9Co3ThUUfykvz4-o\" style=\"\">Esports World Cup<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Signposted to happen sometime in 2027:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The World Water Forum <\/span><span style=\"font-weight:400;\">takes place in Riyadh.<\/span><\/li>\n<li><span style=\"font-weight:700\">The Ocean Race<\/span><span style=\"font-weight:400;\"> finishes in Amaala on the Red Sea.<\/span><\/li>\n<li><span style=\"font-weight:700\">Riyadh-Kudmi transmission line<\/span><span style=\"font-weight:400;\"> to be completed.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2Q 2027:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The Hail Region Water Networks Project<\/span><span> is expected to be completed.<\/span><\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Almasar gains on Tadawul debut | Net foreign assets in October | Alramz prices IPO | US approves Saudi military sales<\/p>\n","protected":false},"featured_media":102997,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-102996","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"98b0379b-4923-47e7-aa35-fa226e9c4dbc","teaser":"Almasar gains on Tadawul debut | Net foreign assets in October | Alramz prices IPO | US approves Saudi military sales","photo_url":"https:\/\/ent.news\/2025\/12\/171.jpg"},"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>FY2026 budget unveiled ahead of a new Vision 2030 phase - 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\/issues\/fy2026-budget-unveiled-ahead-of-a-new-vision-2030-phase\/\" \/>\n<meta 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