{"id":108099,"date":"2026-04-29T00:00:00","date_gmt":"2026-04-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=108099"},"modified":"2026-04-29T03:10:31","modified_gmt":"2026-04-29T03:10:31","slug":"exit-stage-right","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/exit-stage-right\/","title":{"rendered":"Exit stage right"},"content":{"rendered":"<section id=\"108101\" 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=\"108101\">\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\/2026\/04\/29\/saudi-arabia-to-cut-oil-prices-for-asia\/\">\r\n                            Price cut incoming                        <\/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\/2026\/04\/29\/saudi-arabia-to-cut-oil-prices-for-asia\/\" 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 decision, which Abu Dhabi maintains was not influenced by any other members of the group, is ostensibly a move for the UAE to leave behind Opec\u2019s production quota system and prioritize its flexibility to pump more oil to finance its economic growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The announcement came as Gulf leaders <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2573127\" style=\"\">gathered in Jeddah<\/a><\/strong>, albeit without Emirati President Mohamed bin Zayed, who sent Foreign Minister Abdullah bin Zayed <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/bzxzuk3-behalf-uae-president-abdullah-bin-zayed\" style=\"\">in his stead<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The consultative meeting of GCC leaders<\/strong> \u2014 the first in-person gathering since the region was drawn into the Iran war two months ago \u2014 <strong>focused on the fallout from Iranian missile and drone attacks targeting civilian infrastructure<\/strong> across the Gulf, with leaders jointly condemning the strikes as a violation of sovereignty, and calling for tighter coordination to protect regional security.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The talks also come amid criticism that the GCC\u2019s response so far has been \u201cthe weakest<\/strong><strong> in history<\/strong>,\u201d <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/gulf-leaders-meet-saudi-arabia-discuss-response-iranian-strikes-2026-04-28\/\" style=\"\">Reuters<\/a> quotes senior UAE diplomatic advisor Anwar Gargash as saying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/sub.ent.news\/menaplus\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1023.jpg?ssl=1\"\/><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meet EnterpriseAM MENA+, our new flagship newsletter<\/strong> covering the flows of capital, people, and ideas across the Middle East \u2014 and beyond it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MENA+ covers AI and tech \u2014 and geopolitics, the war for talent<\/strong>, which BSD is on top (and who's gunning for them), the changing energy economy, new corridors to India and China, and much, much more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s with the \u201c+\u201d in MENA+? <\/strong>We think one of the most powerful stories in the region is the *export* of ideas and capital not just to neighboring regions (Asia, the Stans) but to international financial centers. MENA countries are jockeying for position in the new global economy now taking shape, and we're going to shape that conversation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/sub.ent.news\/menaplus\/\" style=\"\">Tap or click here to get your own copy<\/a><\/strong> delivered to your inbox every Monday, Wednesday, and Friday at 12pm UAE | 11am KSA | 11am Egypt.<\/p>\n<p class=\"tag-border-left\">PSA<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Justice Ministry introduced a new enforcement system that updates <\/strong><strong>how court rulings and debt recovery are handled. <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.okaz.com.sa\/local\/na\/2246112\" style=\"\">new enforcement<\/a><a target=\"_blank\" href=\"https:\/\/www.okaz.com.sa\/local\/na\/2246112\" style=\"\">law<\/a> caps travel bans at three years and sets penalties ranging between SAR 100k and SAR 1 mn and up to three years in prison for evading court rulings. The system also expands court powers to freeze and track assets, while protecting essentials like housing, basic belongings, and part of salaries from seizure. The law will be effective 180 days after its official gazette publication, replacing its 2012 predecessor. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> Watch this space<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>OIL \u2014 <\/strong><strong>Saudi Arabia<\/strong><strong> is expected to cut June crude prices for Asian buyers by<\/strong><strong> USD 5-12 \/ bbl<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-arabia-may-lower-june-oil-prices-asia-record-levels-2026-04-28\/\" style=\"\">Reuters<\/a> reports, signaling a retreat from the record-high premiums triggered by the US-Israeli conflict with Iran. That would bring Arab Light crude prices to USD 7.50-14.50 higher than Dubai and Oman average quotes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The expected price cuts would come as the spot market has cooled dramatically<\/strong>, with Dubai\u2019s premiums collapsing by more than 50% to USD 15.22 \/ bbl. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>The arrival of cheaper replacement cargoes from the US and West Africa, alongside increased Russian purchases by Indian refiners, is pushing the Kingdom to defend its market share. On top of that, Chinese refiners \u2014 which are Saudi\u2019s top buyers \u2014 are squeezed by poor margins and have slashed May purchases to record lows of only 20 mn bbl after previous price hikes. Meanwhile, Aramco has successfully rerouted exports through the Red Sea port of Yanbu to bypass the volatile Strait of Hormuz, maintaining flows despite the regional conflict.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>REGULATION \u2014 The Capital Market Authority <\/strong><strong>(<\/strong><strong>CMA<\/strong><strong>) is seeking feedback on a <\/strong><strong>set of changes to simplify and speed up M&As<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-detail-wcm\/?newsId=9360&locale=en\" style=\"\">Tadawul statement<\/a>. The draft proposal went out on Monday for a 45-day public consultation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Introducing\u2026 shelf registration:<\/strong> One of the proposals would allow listed companies to pre-register shares with the CMA, allowing them to pull the trigger on asset purchases or acquisitions over a three-year period without seeking fresh regulatory approvals each time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The draft tightens M&A governance on voting and information sharing. <\/strong>Shareholders with conflicts of interest would count toward a quorum to avoid stalled meetings, but would be barred from voting on the transaction. It also allows limited sharing of non-public information with key shareholders during negotiations, subject to notifying the CMA and inking non-trading agreements. Lastly, shareholders with stakes in both the acquiring and target companies would be allowed to vote in both entities, provided they are not related parties in the target company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>DISRUPTION WATCH \u2014<\/strong><strong> Reopening the Strait of Hormuz will take more than a <\/strong><strong>ceasefire<\/strong>, with a coalition of over 30 countries led by Britain and France now grappling with three hurdles: mine clearance, naval protection, and shipping ins., <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2026-04-28\/iran-war-us-can-t-reopen-strait-of-hormuz-on-its-own\" style=\"\">Bloomberg<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Iran\u2019s mines alone could take weeks or months to clear.<\/strong> Demining is a slow, risky, and resource-intensive business requiring escorts, air cover, and sustained efforts to prevent re-mining. Clearing a safe channel would depend on a joint effort, combining European mine-hunting capabilities with US intelligence and defensive support. Even then, commercial ships would still need escorts, clear engagement rules, and tight operational coordination.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But a partial clearance may be enough to get by:<\/strong> US Energy Secretary Chris Wright <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-04-28\/hormuz-can-open-without-clearing-all-mines-us-energy-chief-says\" style=\"\">believes<\/a> not all mines would need to be removed for transit to resume, arguing that establishing a safe navigable corridor could be done relatively quickly. US estimates suggest full clearance could take up to six months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ins. is the other major sticking point. <\/strong>With the risk of renewed hostilities still hanging over the waterway, war-risk premiums are likely to stay prohibitively high \u2014 leaving governments to potentially step in as insurers of last resort to get trade moving again.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>ENERGY \u2014<\/strong><strong> Aramco will keep suspending liquefied petroleum gas (LPG)<\/strong><strong> shipments from its Juaymah export facility through May<\/strong>, as the site has yet to recover from the structural damage sustained in <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/02\/26\/this-morning-view-united-real-estate-gears-up-for-main-market-transfer\/\" style=\"\">late February<\/a>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-04-28\/aramco-suspends-lpg-deliveries-through-may-on-facility-damage\" style=\"\">Bloomberg<\/a> reports, citing people familiar with the matter. Repairs have reportedly been delayed, preventing a restart in exports even if regional shipping routes improve.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>Juaymah handles about 3.5% of global waterborne LPG exports, making the outage a meaningful disruption in a niche but important fuel market. The supply squeeze has pushed LPG prices higher and forced buyers \u2014 particularly in Asia and India, where LPG is widely used for cooking \u2014 to seek alternatives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Data point<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>7% \u2014 that\u2019s the percentage of board seats held by women across the GCC\u2019s<\/strong><strong> 759 publicly listed companies<\/strong>, according to the 2026 GCC Board Gender Index <a target=\"_blank\" href=\"https:\/\/www.hw.ac.uk\/news\/2026\/womens-representation-reaches-7-across-gcc-boards\" style=\"\">report<\/a> by Heriot-Watt University and Aurora50. That figure remained essentially flat y-o-y, with women\u2019s board representation coming in at 6.9% in 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi gap: <\/strong>Saudi Arabia is at the bottom of the GCC\u2019s board gender diversity rankings, with women holding just 2.9% of the 2,014 available board seats in the Kingdom\u2019s publicly listed companies. UAE tops the list with 15%, followed by Bahrain (10.5%), Oman (7%), Kuwait (5.6%), and Qatar (3.2%). Saudi Arabia and the UAE are the only two countries where women have secured seats across all sectors.  <\/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\">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=\"\">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=\"\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\">logistics<\/a> industry, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\">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:\/\/enterpriseam.com\/ksa\/newsletters\/\" style=\"\">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>The UAE\u2019s Opec exit is dominating the front pages this morning<\/strong>, as the foreign press tries to understand the move and its implications for energy markets and the region. We dive into the decision, what it means for us, and what comes next in the news well, below. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- The US Federal Reserve <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/04\/28\/fed-meeting-preview-april-2026.html\" style=\"\">will announce<\/a><\/strong><strong> its decision on interest rates this <\/strong><strong>evening. <\/strong>Pundits widely expect it to leave rates unchanged.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Transatlantic unity was the main takeaway from King Charles\u2019 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ZhoflAu-Lls\" style=\"\">address to the US<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ZhoflAu-Lls\" style=\"\">congress<\/a><\/strong><strong>. <\/strong>The UK monarch <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-04-28\/king-charles-urges-us-congress-to-reject-pull-of-isolationism\" style=\"\">urged the US<\/a> to move away from isolation and highlighted the importance of Washington\u2019s participation with Europe, Nato allies, and Ukraine, calling on the countries to \u201cignore the clarion calls to become ever more inward-looking.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Drama in the tech world: <\/strong>Elon Musk\u2019s <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/litigation\/openai-trial-pitting-elon-musk-against-sam-altman-kicks-off-2026-04-28\/\" style=\"\">legal feud<\/a> with OpenAI founders is heating up after they faced off in court \u2014 the Tesla founder is claiming that the founders behind the ChatGPT maker broke pledges to remain a nonprofit AI research lab. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And speaking of OpenAI: <\/strong>Investor confidence in the AI boom <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/ai-worries-have-returned-to-wall-street-now-come-earnings-d680e19c?mod=hp_lead_pos1\" style=\"\">wavered yesterday<\/a> following OpenAI\u2019s failure to meet its targets for users and revenues. OpenAI-linked firms, including Oracle and SoftBank, faced a market sell-off soon after, with some shares sliding over 4%<\/p>\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\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil\/\">Oil<\/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    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class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The UAE\u2019s exit from Opec and Opec+ leaves Saudi Arabia as the<\/strong><strong> cartel\u2019s undisputed anchor<\/strong> \u2014 the only producer with the spare capacity to move markets \u2014 at a time when regional disruptions are already rattling supply chains and pricing.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>It may have been an abrupt exit, but the policy divergence between Riyadh and Abu<\/strong><strong> Dhabi over production strategy has consistently grown wider<\/strong>, with the UAE not seeing eye-to-eye on output quotas. \u201cThe outcome has long been in the making,\u201d global oil markets strategist and former head of research at Onyx Group Harry Tchilinguirian tells EnterpriseAM.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The Saudi position now:<\/strong> With the UAE out of the group as of this Friday, 1 May, Saudi Arabia stands as the market\u2019s sole swing producer, raising questions about how sustainable that role is without internal alignment, Rystad Energy\u2019s Jorge Leon told <a href=\"https:\/\/www.reuters.com\/business\/energy\/view-uae-leave-opec-opec-oil-producer-groups-2026-04-28\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>A structurally significant split:<\/strong> The UAE has long been one of the bloc\u2019s heavyweights alongside Saudi Arabia, with meaningful spare capacity \u2014 the key lever Opec uses to move markets \u2014 making its departure structurally different from past defections. \u201cThe UAE\u2019s exit is very significant as it\u2019s a top-tier producer with high spare capacity and strong compliance with prior quotas,\u201d Rabobank Energy Strategist Florence Schmit tells EnterpriseAM.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Mechanically, the exit removes 3-4 mn barrels daily of swing capacity.<\/strong> That capacity is what allows for breathing room and gives the cartel the ability to respond when Hormuz closes or pipelines rupture, Wolfgang Lehmacher, former head of supply chain and transport industries at the World Economic Forum, tells EnterpriseAM. Opec\u2019s ability to smooth out supply imbalances without the UAE in the mix is significantly undermined, Carnegie\u2019s Sergey Vakulenko adds. \u201cMost participants lack excess capacity and need pooled coordination as protection against volatility they cannot absorb individually,\u201d Lehmacher notes.<\/p>\n<p class=\"tag-border-left\">Pulling back the curtain<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The keyword for the UAE: Flexibility.<\/strong> \u201cThe decision reflects a policy-driven evolution in the UAE\u2019s approach, enhancing flexibility to respond to market dynamics while continuing to contribute to stability in a measured and responsible manner,\u201d the <a href=\"https:\/\/www.wam.ae\/en\/article\/bzxzuh7-uae-announces-decision-exit-opec-opec%2B\" target=\"_blank\" rel=\"noopener\">Emirati government said<\/a>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The UAE has been planning to ramp up production by as much as 30%, which doesn\u2019t fit<\/strong><strong> neatly in Opec\u2019s quota system<\/strong>, Vakulenko told Reuters. Even the group\u2019s shift toward capacity-based quotas \u2014 <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/12\/08\/opecs-new-capacity-audit-explained\/\" target=\"_blank\" rel=\"noopener\">designed<\/a> to better align targets with real production \u2014 has failed to bridge the <a href=\"https:\/\/enterpriseam.com\/logistics\/2025\/11\/06\/today-cold-chain-maker-cgs-is-on-tadawul-ceva-logistics-acquisition-of-borusan-tedarik-is-complete\/\" target=\"_blank\" rel=\"noopener\">gap<\/a> between the UAE\u2019s <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/opec-extends-supply-cuts-granting-the-uae-a-higher-production-quota-for-2025\/\" target=\"_blank\" rel=\"noopener\">expanding capacity<\/a> and the limits imposed by the system. The group is effectively managing three different versions of supply \u2014 self-reported output, secondary data, and official targets. \u201cBy exiting Opec, the UAE could increase production beyond its current quota \u2026 potentially achieving a capacity closer to 4.8 mn barrels per day, MENA economist <a href=\"https:\/\/ent.news\/2026\/4\/1459.pdf\" target=\"_blank\" rel=\"noopener\">Hamzeh Al Gaaod<\/a><a href=\"https:\/\/ent.news\/2026\/4\/1459.pdf\" target=\"_blank\" rel=\"noopener\">writes in a note (pdf)<\/a> shared with EnterpriseAM. The UAE also has around \u201c1.85 mn barrels daily of stranded throughput capacity from USD 150 bn in built infrastructure, Lehmacher adds.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The move was entirely the UAE\u2019s and the country didn\u2019t consult other members<\/strong> before pulling the trigger, Energy Minister Suhail Al Mazrouei tells <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/uae-says-it-quits-opec-opec-statement-2026-04-28\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a>, framing the move as a result of a review of current and future production policies. \u201cThe UAE\u2019s exit from OPEC would mark a decisive shift toward an independent, state-driven oil strategy,\u201d Al Gaaod says. This allows the country to leverage its position as a supplier of some of the world\u2019s lowest-cost barrels.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>What it\u2019s (officially) not about:<\/strong> \u201cThis has nothing to do with any of our brothers and friends within the group\u2026 We have the highest respect for the Saudis for leading Opec,\u201d Al Mazrouei also said. The UAE chose now to make the announcement to avoid a severe impact on oil prices and on Opec cartel members, Al Mazrouei added, citing the closure of the Strait of Hormuz and the shortages it\u2019s leading to in the market.<\/p>\n<p class=\"tag-border-left\">A well-timed exit?<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The market is already distorted: <\/strong>\u201cNow is probably the least damaging time to announce it \u2014 oil prices are high, \u2060and there are genuine shortages because of Hormuz closure,\u201d Vakulenko says, noting that even \u201cafter Hormuz reopens, there will be elevated demand as countries will be replenishing reserves that were drawn down since February, \u2060so prices will stay high.\u201d Still, many analysts and market watchers remain \u201cperplexed\u201d considering \u201cthe timing of this decision, in the context of the ongoing disruptions,\u201d Tchilinguirian tells us.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The \u201cimmediate\u201d impact of the UAE\u2019s exit is likely to be muted<\/strong>, Al Mazrouei says. Analysts broadly agree, with Capital Economics Chief Climate and Commodities Economist David Oxley saying in a note that \u201cthe prospect of the UAE pumping more oil is somewhat moot at present given the near-complete cessation in flows through Hormuz.\u201d Plus, markets are still pricing in the closure of Hormuz and will need to absorb that \u201cbefore they can fully price the UAE leaving Opec,\u201d Rabobank Energy Strategist Florence Schmit tells EnterpriseAM.<\/p>\n<p class=\"tag-border-left\">What this means for the market<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Outside Opec, the UAE gains the freedom to increase output<\/strong> \u2014 and the incentive to do so \u2014 which could reshape supply dynamics once the current disruption cycle fades, Vakulenko said. The UAE leaving behind Opec\u2019s quotas is \u201cnot only for the good of its flagship Murban futures contract, but also for its longer-term economic development, using oil revenues to finance its longer-term [economic diversification],\u201d Tchilinguirian says.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>A structurally weaker Opec points to a potentially more volatile oil market once current<\/strong><strong> disruptions ease<\/strong>, as the group\u2019s ability to manage supply diminishes, Leon says.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Market response:<\/strong> \u201cWhen both transit infrastructure and governance protocols fail, operators shift from spot exposure to long-term contracted capacity with built-in resilience premiums,\u201d Lehmacher adds.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The upshot: <\/strong>\u201cThe main market impact would be a significant reduction in Opec\u2019s influence over oil prices and coordination of output,\u201d Al Gaaod says.<\/p>\n<p class=\"tag-border-left\">What\u2019s next<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Contagion risk?<\/strong> \u201cIf other producers begin prioritizing market share over quota discipline, Opec\u2019s ability to manage orderly markets through coordinated supply adjustments may increasingly be called into question,\u201d head of Commodity Strategy at Saxo Bank Ole Hansen said in a research note seen by EnterpriseAM. If discipline erodes too far, the group\u2019s capacity to shape the market shifts from enforcement to mere signaling.\u201cThis could be the thin end of the wedge if it triggers further disintegration of the group,\u201d Oxley adds.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The great system rewrite:<\/strong> \u201cWhile the UAE could potentially rejoin OPEC if market conditions stabilize, such a departure would signal more than a temporary adjustment. It would represent a fundamental transformation in both energy strategy and geopolitical alignment, with profound implications for the structure and stability of global oil markets,\u201d Al Gaaod adds.<\/p>\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\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/opec\/\">OPEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/the-big-story-today\/\">THE BIG STORY 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=\"108106 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=\"108106\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/29\/108106\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-108106\" class=\"content-area-description single-story post-108106 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:\/\/web.facebook.com\/HassanAllamProperties\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/2\/325.jpeg?ssl=1\"><\/a><\/span><\/p>\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=\"108107\" 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=\"108107\">\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\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/29\/startups-looking-to-ipo-in-saudi-arabia-are-plenty-but-early-stage-readiness-remains-an-obstacle\/\">\r\n                            Still early days                        <\/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\/2026\/04\/29\/startups-looking-to-ipo-in-saudi-arabia-are-plenty-but-early-stage-readiness-remains-an-obstacle\/\" 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\/2026\/04\/29\/startups-looking-to-ipo-in-saudi-arabia-are-plenty-but-early-stage-readiness-remains-an-obstacle\/')\">\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\/2026\/04\/29\/startups-looking-to-ipo-in-saudi-arabia-are-plenty-but-early-stage-readiness-remains-an-obstacle\/\">\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=Startups looking to IPO in Saudi Arabia are plenty \u2014 but early-stage readiness remains an obstacle&url=https:\/\/enterpriseam.com\/ksa\/2026\/04\/29\/startups-looking-to-ipo-in-saudi-arabia-are-plenty-but-early-stage-readiness-remains-an-obstacle\/\">\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\/2026\/04\/29\/startups-looking-to-ipo-in-saudi-arabia-are-plenty-but-early-stage-readiness-remains-an-obstacle\/&title=Startups looking to IPO in Saudi Arabia are plenty \u2014 but early-stage readiness remains an obstacle\">\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=Startups+looking+to+IPO+in+Saudi+Arabia+are+plenty+%E2%80%94+but+early-stage+readiness+remains+an+obstacle+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2026%2F04%2F29%2Fstartups-looking-to-ipo-in-saudi-arabia-are-plenty-but-early-stage-readiness-remains-an-obstacle%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\/2026\/04\/29\/startups-looking-to-ipo-in-saudi-arabia-are-plenty-but-early-stage-readiness-remains-an-obstacle\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1483.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"108108\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/29\/startups-looking-to-ipo-in-saudi-arabia-are-plenty-but-early-stage-readiness-remains-an-obstacle\/1483-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1483.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1483.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1483.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1483.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-108107\" class=\"content-area-description single-story post-108107 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-markets tag-enterpriseam-ksa tag-ipo-watch tag-startup-watch tag-vc-2 wpautop entry\">\n\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;text-align: left\"><strong> Startups in Saudi Arabia are keen to go public, but ambition alone isn\u2019t <\/strong><strong>enough to carry the Kingdom\u2019s IPO pipeline across the finish line.<\/strong> That\u2019s the primary takeaway from Endeavor and SVC\u2019s <a href=\"https:\/\/saudi.endeavor.org\/from-startup-to-public-offering-strengthening-the-ipo-pipeline-in-saudi-arabia\/\" target=\"_blank\" rel=\"noopener\">survey<\/a> of 30 regional founders.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The majority (77%) of surveyed founders are <\/strong><strong>actively exploring a potential IPO<\/strong>, with most targeting an exit within the next two to three years. Only a small minority have ruled out an IPO as their exit strategy, and investor sentiment broadly mirrors founder optimism.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Tadawul remains the darling:<\/strong> The surveyed founders are nearly unanimous in their preference of Tadawul over other exchanges, reflecting a maturing domestic market.<\/p>\n<p class=\"tag-border-left\">High (but reasonable) valuations are a defining feature<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Saudi Arabia\u2019s venture-backed IPOs stand apart from peer markets<\/strong> \u2014 including India, Brazil, Indonesia, South Korea, Turkey, and Hong Kong \u2014 <strong>because of high valuations and capital intensity.<\/strong> The Kingdom recorded more than 2.5x the peer median for pre-IPO valuation, coming in at USD 545 mn. Saudi companies generate around USD 3.10 in valuation per USD 1 invested, placing the Kingdom fourth behind South Korea, Turkey, and Hong Kong.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The gap between pre- and post-IPO valuations is also relatively narrow<\/strong> <strong>at 6.99%<\/strong>, indicating disciplined pricing rather than arbitrary calculations. The smaller IPO premium compared to its peers means less capital is typically raised at listing, which can limit post-IPO growth plans and make the market less attractive for high-growth tech companies that depend on larger fundraising.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Saudi capital markets also demonstrate strong capital intensity<\/strong>, with an average of USD 215 mn invested per VC-backed company across equity and debt, ranking second among peer markets behind Brazil. Meanwhile, the pipeline remains early stage but carries strong upside, with only five VC-backed IPOs between 2020 and 2025.<\/p>\n<p class=\"tag-border-left\">So, what\u2019s the hold-up?<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Governance + organizational gaps are holding back IPO readiness:<\/strong> Many founders remain unable to build a compelling IPO case, with leadership teams not adequately set up for the degree and depth of engagement that\u2019s needed with public market investors. Roughly half of firms acknowledge that their current corporate structures fall short of listing requirements, and major components of public-market accountability \u2014 enterprise risk management, independent board oversight, dedicated investor relations and legal leadership \u2014 are in many cases incomplete or altogether absent.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Co-investments can fill the growth stage capital gap:<\/strong> Over 80% of Saudi VC funding is concentrated at the early stage, creating a series A+ funding gap. Coordinated co-investment among public capital, local venture funds, and banks \u2014 supported by public-private programs \u2014 would help close that gap and create the recycling dynamic that mature markets depend on.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The path forward also rests on Nomu evolving from being an SME venue into a genuine<\/strong><strong> stepping stone for scaleups.<\/strong> Founders gravitate toward the main market because of its liquidity and depth, but Nomu can become a meaningful staging ground by creating clearer graduation routes to the main market. Meanwhile<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>AND- A stronger IPO environment can be built through a multiplier effect:<\/strong> The limited number of VC-backed IPOs resulted in fewer founder role models and mentors. Strengthening founder-to-founder knowledge transfer networks and encouraging IPO alumni to reinvest capital, expertise, and networks can create a multiplier effect that drives innovation cycles and future listings, the report says.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">\u00a0<\/p>\n\n\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\/capital-markets\/\">Capital Markets<\/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                            <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\/vc-2\/\">VC<\/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=\"108109 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=\"108109\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/29\/108109\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-108109\" class=\"content-area-description single-story post-108109 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\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1942.jpg?ssl=1\"><\/a><\/span><\/p>\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=\"108110\" 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=\"108110\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/29\/stcs-bottom-line-climbs-in-1q\/\">\r\n                            STC + more post 1Q earnings                        <\/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\/2026\/04\/29\/stcs-bottom-line-climbs-in-1q\/\" 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\/2026\/04\/29\/stcs-bottom-line-climbs-in-1q\/')\">\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\/2026\/04\/29\/stcs-bottom-line-climbs-in-1q\/\">\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=STC\u2019s bottom line climbs in 1Q&url=https:\/\/enterpriseam.com\/ksa\/2026\/04\/29\/stcs-bottom-line-climbs-in-1q\/\">\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\/2026\/04\/29\/stcs-bottom-line-climbs-in-1q\/&title=STC\u2019s bottom line climbs in 1Q\">\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=STC%E2%80%99s+bottom+line+climbs+in+1Q+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2026%2F04%2F29%2Fstcs-bottom-line-climbs-in-1q%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\/2026\/04\/29\/stcs-bottom-line-climbs-in-1q\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1477.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"108111\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/29\/stcs-bottom-line-climbs-in-1q\/1477-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1477.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1477.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1477.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1477.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-108110\" class=\"content-area-description single-story post-108110 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-astra-industrial-group tag-earnings-watch tag-electrical-industries tag-enterpriseam-ksa tag-leejam-sports tag-national-environmental-recycling tag-stc wpautop entry\">\n\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;text-align: left\"><strong>More earnings c<\/strong><strong>ome in. <\/strong>More companies reported their 1Q earnings yesterday \u2014 STC, Astra Industrial Group, Electrical Industries, and more are out with their financials for the first quarter of the year, offering us a look at how regional security disruptions have impacted operations.<\/p>\n<p class=\"tag-border-left\">STC<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong> Saudi Telecom<\/strong><strong> Company\u2019s (STC) net income edged up 1.3% y-o-y to SAR 3.7<\/strong><strong> bn in 1Q 2026<\/strong>, exceeding <a href=\"https:\/\/asharqbusiness.com\/financial-reports\/130460\/%D8%A3%D8%B1%D8%A8%D8%A7%D8%AD-stc-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D9%81%D9%88%D9%82-%D8%A7%D9%84%D8%AA%D9%88%D9%82%D8%B9%D8%A7%D8%AA-%D9%81%D9%8A-%D8%A7%D9%84%D8%B1%D8%A8%D8%B9-%D8%A7%D9%84%D8%A3%D9%88%D9%84-2026\/\" target=\"_blank\" rel=\"noopener\">Bloomberg\u2019s forecasts<\/a> of SAR 3.3 bn, it said in a <a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=94730&amp;anCat=1&amp;cs=7010&amp;locale=en&amp;csrt=16509594114837764524\" target=\"_blank\" rel=\"noopener\">disclosure to Tadawul<\/a>. The improvement was supported by stronger operating results and better investment-related performance. Revenue climbed 3.8% to SAR 19.9 bn, underpinned by solid growth across its commercial, carriers, and wholesale divisions, as well as subsidiaries.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Dividends: <\/strong>STC will pay out SAR 2.7 bn in dividends for the quarter at SAR 0.55 apiece on 20 May, according to a <a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=94731&amp;anCat=1&amp;cs=7010&amp;locale=en&amp;csrt=16509594114837764524\" target=\"_blank\" rel=\"noopener\">separate disclosure<\/a>.<\/p>\n<p class=\"tag-border-left\">Astra Industrial Group<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Astra Industrial Group<\/strong><strong> reported a marginal 0.7% y-o-y uptick in net <\/strong><strong>income to <\/strong><strong>SAR 173.1 mn in 1Q 2026<\/strong>, supported by gains in the pharma and steel segments and lower finance costs in speciality chemicals and pharma, it said in a <a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=94714&amp;anCat=1&amp;cs=1212&amp;locale=en\" target=\"_blank\" rel=\"noopener\">Tadawul disclosure<\/a>. Meanwhile, revenue fell 5.1% y-o-y to SAR 790.9 mn, weighed down by weaker performance in the steel and speciality chemicals businesses.<\/p>\n<p class=\"tag-border-left\">Electrical Industries<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Electrical Industries Co. <\/strong><strong>report<\/strong><strong>ed a 54.6% rise in 1Q 2026 net income to SAR 190.8 <\/strong><strong>mn<\/strong>, according to a <a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=94717&amp;anCat=1&amp;cs=1303&amp;locale=en\" target=\"_blank\" rel=\"noopener\">Tadawul disclosure<\/a>. The uptick was attributed to a diversified sales mix, favoring more profitable lines over volume alone, with rising distribution costs slightly offsetting a higher bottom line. The company\u2019s revenue rose 30.5% y-o-y to SAR 661.4 mn during the quarter, driven by a broad-based rise in demand across sectors including substation, infrastructure, and new industrial projects.<\/p>\n<p class=\"tag-border-left\">National Environmental Recycling<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>National Environmental<\/strong><strong> Recycling\u2019s net income rose 12.1% to SAR 20.5 mn in<\/strong><strong> 1Q 2026<\/strong>, with higher sales offset by suppressed margins on the back of higher shipping and ins. costs and finance expenses, the company said in a <a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=94728&amp;anCat=1&amp;cs=9540&amp;locale=en&amp;csrt=16509594114837764524\" target=\"_blank\" rel=\"noopener\">disclosure to Tadawul<\/a>. The company\u2019s revenue rose 84.5% to SAR 493.6 mn during the quarter thanks to large feedstock procurement contracts and a rise in Asian export sales.<\/p>\n<p class=\"tag-border-left\">Leejam Sports<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Leejam Sports <\/strong><strong><a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=94722&amp;anCat=1&amp;cs=1830&amp;locale=en\" target=\"_blank\" rel=\"noopener\">posted<\/a><\/strong><strong> a 31% y-o-y decline in net income to SAR 49 mn in <\/strong><strong>1Q <\/strong><strong>2026<\/strong>, mainly due to higher costs, increased financing expenses, and one-off losses linked to lease terminations. The firm\u2019s revenue remained stable y-o-y at SAR 369 mn.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Dividends:<\/strong> Leejam\u2019s board greenlit an SAR 29.3 mn dividend payout for the quarter at SAR 0.58 apiece, according to a <a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=94723&amp;anCat=1&amp;cs=1830&amp;locale=en\" target=\"_blank\" rel=\"noopener\">Tadawul filing<\/a>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">\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\/astra-industrial-group\/\">Astra Industrial Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/electrical-industries\/\">Electrical Industries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/leejam-sports\/\">Leejam Sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-environmental-recycling\/\">National Environmental Recycling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/stc\/\">STC<\/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=\"108112\" 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=\"108112\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/29\/desert-warrior-struggles-at-us-box-office-debut\/\">\r\n                            How did Desert Warrior perform at 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\/2026\/04\/29\/desert-warrior-struggles-at-us-box-office-debut\/\" 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\/2026\/04\/29\/desert-warrior-struggles-at-us-box-office-debut\/')\">\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\/2026\/04\/29\/desert-warrior-struggles-at-us-box-office-debut\/\">\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=Desert Warrior struggles at US box office debut&url=https:\/\/enterpriseam.com\/ksa\/2026\/04\/29\/desert-warrior-struggles-at-us-box-office-debut\/\">\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\/2026\/04\/29\/desert-warrior-struggles-at-us-box-office-debut\/&title=Desert Warrior struggles at US box office debut\">\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=Desert+Warrior+struggles+at+US+box+office+debut+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2026%2F04%2F29%2Fdesert-warrior-struggles-at-us-box-office-debut%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\/2026\/04\/29\/desert-warrior-struggles-at-us-box-office-debut\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1468.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"108113\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/29\/desert-warrior-struggles-at-us-box-office-debut\/1468-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1468.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1468.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1468.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1468.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-108112\" class=\"content-area-description single-story post-108112 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-enterpriseam-ksa tag-entertainment tag-saudi-in-the-news tag-saudiwood wpautop entry\">\n\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;text-align: left\"><strong> Our fir<\/strong><strong>st major Hollywood-style movie is off to a weak start: <\/strong>Desert Warrior, a Saudi-backed epic with a reported USD 150 mn budget, earned a mere USD 472k in its opening weekend in the US despite a wide release across over 1k theaters, <a href=\"https:\/\/www.worldofreel.com\/blog\/2026\/4\/28\/desert-warrior-bombs-150m-saudi-backed-epic-opens-to-just-472k\" target=\"_blank\" rel=\"noopener\">World of Reel<\/a> reports.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Behind the scenes: <\/strong>The film, starring Anthony Mackie and Ben Kingsley and initially directed by Rupert Wyatt, has been hit by poor reviews and audience reception. Taking six years to wrap up, the picture reportedly suffered from production issues \u2014 its budget nearly doubled from an initial USD 70 mn, with Wyatt reportedly exiting during post-production and the film undergoing major re-editing.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">\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\/entertainment\/\">entertainment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudiwood\/\">Saudiwood<\/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=\"108114\" 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=\"108114\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/29\/alshaya-moves-toward-2027-launch-for-avenues-riyadh-and-khobar\/\">\r\n                            When will Alshaya\u2019s Avenues projects come online?                        <\/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\/2026\/04\/29\/alshaya-moves-toward-2027-launch-for-avenues-riyadh-and-khobar\/\" 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\/2026\/04\/29\/alshaya-moves-toward-2027-launch-for-avenues-riyadh-and-khobar\/')\">\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\/2026\/04\/29\/alshaya-moves-toward-2027-launch-for-avenues-riyadh-and-khobar\/\">\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=Alshaya moves toward 2027 launch for Avenues Riyadh and Khobar&url=https:\/\/enterpriseam.com\/ksa\/2026\/04\/29\/alshaya-moves-toward-2027-launch-for-avenues-riyadh-and-khobar\/\">\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\/2026\/04\/29\/alshaya-moves-toward-2027-launch-for-avenues-riyadh-and-khobar\/&title=Alshaya moves toward 2027 launch for Avenues Riyadh and Khobar\">\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=Alshaya+moves+toward+2027+launch+for+Avenues+Riyadh+and+Khobar+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2026%2F04%2F29%2Falshaya-moves-toward-2027-launch-for-avenues-riyadh-and-khobar%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\/2026\/04\/29\/alshaya-moves-toward-2027-launch-for-avenues-riyadh-and-khobar\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1475.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"108115\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/29\/alshaya-moves-toward-2027-launch-for-avenues-riyadh-and-khobar\/1475-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1475.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1475.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1475.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1475.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-108114\" class=\"content-area-description single-story post-108114 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-al-modawat tag-alshaya tag-also-on-our-radar tag-enterpriseam-ksa tag-saudi-ground-services wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"tag-border-left\">Alshaya to roll out Avenues projects by early 2027<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Brand operator Alshaya<\/strong><strong> Group plans to open its Riyadh <\/strong><strong>and Khobar Avenues<\/strong><strong> projects between late 2026 and early 2027<\/strong>, CEO John Hadden told Al Eqtisadiah (<a href=\"https:\/\/x.com\/aleqtisadiah\/status\/2019036246392086810?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2019036246392086810%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=file%3A%2F%2F%2FUsers%2Fhiteshchandwani%2FDownloads%2Ftwitter.html\" target=\"_blank\" rel=\"noopener\">watch, runtime 1:37<\/a>). The SAR 14 bn Avenues Riyadh development includes a retail mall and five commercial, residential, and hospitality towers, including four hotels. Avenues Khobar features a shopping mall and a mixed-use tower.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>AND- More retail on the runway:<\/strong> Alshaya plans to add more than 300 outlets in Saudi Arabia over the coming period, adding to its portfolio of around 1k stores. Over the coming few months, it intends to launch food brand <a href=\"https:\/\/www.chipotle.com\/\" target=\"_blank\" rel=\"noopener\">Chipotle<\/a> in Saudi Arabia, starting with Riyadh, and bring cosmetics chain <a href=\"https:\/\/www.ulta.com\/\" target=\"_blank\" rel=\"noopener\">Ulta Beauty<\/a> to the Kingdom.<\/p>\n<p class=\"tag-border-left\">Al Modawat kicks off SAR-denominated sukuk offering<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Al Modawat<\/strong><strong> Specialized Medical Company launched a SAR 20 mn <\/strong><strong>sukuk offering<\/strong>, marking the first tranche of its broader <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/23\/ashmores-education-fund-expands-al-modawat-resorts-to-sukuk-issuance\/\" target=\"_blank\" rel=\"noopener\">SAR 30 mn<\/a> shariah-compliant issuance program, according to a <a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=94726&amp;anCat=1&amp;cs=9594&amp;locale=ar\" target=\"_blank\" rel=\"noopener\">Tadawul disclosure<\/a>. The subscription period runs through 12 May, with each sukuk unit priced at SAR 1k, which is also the minimum subscription amount.<\/p>\n<p class=\"tag-border-left\">UAE startup Comfi raises USD 65 mn to expand in Saudi Arabia<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Dubai<\/strong><strong>-based B2B embedded finance platform Comfi closed a USD 65 mn pre-series A<\/strong><strong> round to help it scale its regional footprint and expand \u201caggressively\u201d into Saudi Arabia<\/strong> by next year, co-founder and CEO Sanjar Samiev tells us. The round consisted of equity and debt, with the equity portion led by Iliad Partners, while it marked the first-ever regional investments for Yango Ventures and Raw Ventures, according to a <a href=\"https:\/\/ent.news\/2026\/4\/1384.pdf\" target=\"_blank\" rel=\"noopener\">statement (pdf)<\/a>. The round also includes a credit facility from US-based private credit provider Partners for Growth and a mezzanine facility from Shorooq Partners.<\/p>\n<p class=\"tag-border-left\">SGS lands SAR 314 mn contract with Riyadh Airports<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Saudi Ground<\/strong><strong> Services (SGS) <\/strong><strong>secured <\/strong><strong>a five-year, SAR 314 mn contract with<\/strong><strong> Riyadh Airports Company<\/strong> to operate and maintain passenger boarding bridges and docking systems at Riyadh\u2019s King Khalid International Airport, according to a <a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=94716&amp;anCat=1&amp;cs=4031&amp;locale=en\" target=\"_blank\" rel=\"noopener\">Tadawul disclosure<\/a>. SGS will provide these services alongside its subsidiary, Jusoor Airports. The five-year contract comes into effect on 1 May, with an option to renew for up to three years.<\/p>\n<p class=\"tag-border-left\">Saudi Energy, Dawiyat tapped to set up new tier III data center<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>New tier III data center <\/strong><strong>in the works?<\/strong> Saudi Energy and Dawiyat Integrated Telecommunications will set up a tier III data center under agreements inked with the Investment Ministry and Shareek Program, the <a href=\"https:\/\/www.spa.gov.sa\/N2573397\" target=\"_blank\" rel=\"noopener\">Saudi Press Agency<\/a> reports. The agreements aim to <a href=\"https:\/\/x.com\/ShareekSA\/status\/2049185020972241324\" target=\"_blank\" rel=\"noopener\">add 16 MW of data center capacity<\/a> and bolster data localization.<\/p>\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\/al-modawat\/\">Al Modawat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alshaya\/\">Alshaya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/saudi-ground-services\/\">Saudi Ground Services<\/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=\"108116\" 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=\"108116\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/29\/mena-debt-markets-had-a-muted-1q-2026\/\">\r\n                            Muted 1Q for MENA debt markets                        <\/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\/2026\/04\/29\/mena-debt-markets-had-a-muted-1q-2026\/\" 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 number of issuances fell 11% y-o-y, with the GCC market effectively grinding to a halt in March as the regional conflict broke out. Issuances were already subdued because of Ramadan starting in mid-February, but sentiment and activity took a bigger hit throughout March, with USD-denominated sukuk and bond sales from the GCC broadly muted for most of the month. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A quarter of two halves:<\/strong> \u201cIssuance dynamics were uneven over the quarter. January saw robust activity, while February was broadly in line with seasonal norms, despite coinciding partially with Ramadan,\u201d said Bashar Al Natoor, Fitch Ratings\u2019 global head of Islamic finance. The post-Ramadan rebound that markets typically see was undermined this year, making March activity \u201cmaterially weaker,\u201d Al Natoor said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> A war premium brought a record-breaking start in GCC borrowing activity to a halt as regional markets began pricing at a war premium following the outbreak of the conflict with Iran, Fitch Ratings <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/03\/15\/gcc-debt-markets-hit-the-brakes-as-geopolitical-risk-spikes\/\" style=\"\">previously said<\/a>. Regional debt markets had been on track to break the USD 1.25 tn mark this year, up from USD 1.1 tn in issuances last year, but a 20-30 bps rise in spreads made borrowing costs just high enough to make most issues uneconomical in the near term. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia was in the lead before activity stalled:<\/strong> The Kingdom accounted for some 58% of total bond proceeds raised during the quarter, and was home to the two largest issuers by value, the data shows. Saudi Arabia raised USD 32.54 bn across 42 issuances, Kuwait Financial Center (Markaz) said in a report earlier this week. That activity includes a USD 11.42 bn four-tranche bond sale in early January, as well as Saudi Aramco raising USD 3.95 bn. The UAE accounted for 27% of all activity during the quarter, with the Abu Dhabi government raising USD 2.99 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The top 10 leaderboard tells the story:<\/strong> Nine of the quarter\u2019s 10 largest MENA bond transactions closed in January, with just one issuance \u2014 Abu Dhabi\u2019s February sale \u2014 making it into the top 10. Saudi issuers took seven of the top 10 spots, including the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/19\/sec-snb-close-usd-denominated-paper\/\" style=\"\">Saudi Electricity Company<\/a> (USD 2.4 bn), Saudi Telecom (USD 2 bn), and Riyad Bank (USD 1 bn). The Kingdom of Bahrain (USD 1.3 bn), Kuwait Finance House (USD 1 bn), and Emirates NBD (USD 1 bn) rounded out the list. All 10 of the largest issuances were USD-denominated.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Corporate issuances took the lead<\/strong>, raising USD 32 bn during the quarter, while sovereigns and agencies raised USD 16 bn. Financial institutions accounted for 44% of total proceeds, according to the data. Meanwhile, <strong>Islamic bond issuances in the region fell 17% y-o-y<\/strong> to USD 14.6 bn, accounting for 30% of total bond proceeds \u2014 the lowest share in three years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A recovery in issuance activity hinges on geopolitics and how the conflict develops from <\/strong><strong>here.<\/strong> \u201cThe key challenge at present is the uncertainty surrounding the duration and trajectory of the conflict,\u201d Al Natoor said. \u201cUntil there is greater clarity on whether tensions stabilize, escalate, or persist, visibility on the timing and strength of any recovery in issuance activity remains limited.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That recovery hasn\u2019t quite materialized yet:<\/strong> ADX-listed healthcare provider Burjeel Holdings put a planned USD 1.5 bn Islamic bond issuance on hold due to the war and weaker market conditions. \u201cSpreads have changed,\u201d CEO Shamsheer Vayalil said <a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/04\/27\/2026\/burjeel-healthcare-group-puts-islamic-bond-on-hold\" style=\"\">earlier this week<\/a>.<\/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>Asia-Pacific markets are mixed in early trading this morning<\/strong>, as investors digest the tech selloff on Wall Street a day earlier, triggered by OpenAI missing its 1Q targets. Investors will be watching closely for the US Federal Reserve\u2019s interest rate decision as the central bank concludes its two-day meeting later today. <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\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>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\">11,180<\/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: +6.6%)<\/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>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\">1,496<\/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: +7.8%)<\/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\">22,889<\/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: -1.8%)<\/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\">4.25% 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\">3.75% 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\">52,231<\/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\">-0.9% (YTD: +24.8%)<\/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\">9,836<\/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: -1.6%)<\/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>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\">5,858<\/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: -3.1%)<\/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>S&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\">7,139<\/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\">-0.5% (YTD: +4.3%)<\/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>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\">10,333<\/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: +3.8%)<\/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>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\">5,836<\/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: +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>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 111.26<\/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\">+2.8%<\/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>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 2.68<\/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%<\/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 4,611<\/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%<\/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>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 76,345<\/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\">-0.9% (YTD: -12.9%)<\/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\">916.61<\/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: -0.3%)<\/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>S&P MENA Bond & 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\">151.72<\/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: -0.1%)<\/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>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\">17.83<\/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\">-1.1% (YTD: +19.3%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\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 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>rose 0.1% yesterday on turnover of SAR 5.3 bn. The index is up 6.6% 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> Umm Al Qura Cement (+10.0%), Saudi Chemical Co. (+6.1%), and United Carton Industries (+5.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Leejam Sports (-10.0%), Electrical Industries (-3.8%), and Abo Moati for Bookstores (-3.7%).<\/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 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> fell 0.3% yesterday on turnover of SAR 24.6 mn. The index is down 1.8% 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> Natural Gas Distribution (+8.3%), Albattal Factory (+6.5%), and National Signage Industrial Co.(+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> Aqaseem Factory for Chemicals and Plastics (-15.7%), Naseej Tech (-9.2%), and Jamjoom Fashion (-8.4%).<\/p>\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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"108118\" 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\/2026\/04\/29\/108118\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-108118\" class=\"content-area-description single-story post-108118 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;\">MAY<\/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 style=\"font-weight:400;\">, 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:400;\">24-28 May (Sunday-Thursday): Eid Al Adha holiday.<\/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>15-17 June (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aluminium-exhibition.com\/arabia\/en-gb.html\" style=\"\">Aluminum Arabia<\/a><\/span><span style=\"font-weight:400;\">, The Arena, Riyadh.<\/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>21-24 June (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>21-24 June (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>21-24 June (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>21-24 June (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>22-24 June (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 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:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 August-1 September (Sunday-Tuesday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudientertainmentexpo.com\/?utm_source=google&utm_medium=organic&utm_campaign=seo\" style=\"\">Saudi Entertainment and Amusement Expo<\/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>31 August-3 September (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>, 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 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:400;\">23 September (Wednesday): Saudi National Day.<\/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>12-15 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>, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 October (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/achema-middle-east.ksa.messefrankfurt.com\/ksa\/ppc.html?utm_source=ppc-landingpage&utm_medium=cpc&utm_campaign=kreativeclan_brand_exact_MENA_GCC&utm_content=homepage&gad_source=1&gad_campaignid=23591771694&gbraid=0AAAABBPuheGu3HUwCgxv7inX_RLac-B3S&gclid=CjwKCAiA2PrMBhA4EiwAwpHyC5npsmz5GRyYSeppI3k19DPZWLNG42F9H46N02ivlImv5gKzFI9D5RoCQGUQAvD_BwE\" style=\"\">ACHEMA Middle East<\/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>28-29 October (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cipsmenaconferenceandawards.com\/\" style=\"\">Procurement and Supply Chain Futures Forum<\/a><\/span><span style=\"font-weight:400;\">, Mandarin Oriental 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>28-29 October (Wednesday-Thursday): <\/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;\">, Mandarin Oriental 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 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>24-28 November (Tuesday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sandnfun.com\/en\/\" style=\"\">Aero Middle East and Sand & Fun<\/a><\/span><span style=\"font-weight:400;\">, Thumamah Airport, 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;<\/span><\/li>\n<li><span>September: <\/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><\/li>\n<li><span style=\"font-weight:400;\">November: The 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 World Economic Forum\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.weforum.org\/press\/2026\/01\/annual-meeting-2026-a-spirit-of-dialogue-ceb3ae9c08\/#:~:text=The%20Global%20Collaboration%20and%20Growth%20Meeting%20will%20be%20held%20in%20Jeddah%2C%20Saudi%20Arabia%20on%2022%2D23%20April%202026.\" style=\"\">Global Collaboration and Growth Meeting<\/a><\/span><span style=\"font-weight:400;\">, Jeddah;<\/span><\/li>\n<li><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><\/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<\/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<li><span style=\"font-weight:700\">Capital Markets Forum<\/span><span style=\"font-weight:400;\"> takes place in March in 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 2Q 2027:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The Hail Region Water Networks Project<\/span><span style=\"font-weight:400;\"> is expected to be completed.<\/span><\/li>\n<\/ul>\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>What the UAE exit means for Opec | Startup IPO ambitions lack necessary scaffolding | Desert Warrior flops<\/p>\n","protected":false},"featured_media":108100,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-108099","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ccd947ac-d3dd-4850-b3ba-64bd8ffd0ef9","teaser":"What the UAE exit means for Opec | Startup IPO ambitions lack necessary scaffolding | Desert Warrior flops","photo_url":"https:\/\/ent.news\/2026\/4\/1501.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>Exit stage right - 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\/exit-stage-right\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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