{"id":82242,"date":"2023-11-21T00:00:00","date_gmt":"2023-11-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=82242"},"modified":"2025-12-14T17:03:51","modified_gmt":"2025-12-14T17:03:51","slug":"sama-peoples-bank-of-china-agree-to-sar-26-bn-currency-swap","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/sama-peoples-bank-of-china-agree-to-sar-26-bn-currency-swap\/","title":{"rendered":"SAMA, People\u2019s Bank of China agree to SAR 26 bn currency swap"},"content":{"rendered":"<section id=\"82244\" 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=\"82244\">\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\/2023\/11\/21\/burgerizzr-makes-the-leap-to-the-main-market-plus-tax-time-foreign-interest-in-ksa-equities-and-the-meltdown-of-openai\/\">\r\n                            Burgerizzr makes the leap to the main market. PLUS: Tax time, foreign interest in KSA equities, and the meltdown of OpenAI                        <\/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\/2023\/11\/21\/burgerizzr-makes-the-leap-to-the-main-market-plus-tax-time-foreign-interest-in-ksa-equities-and-the-meltdown-of-openai\/\" 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\/2023\/11\/21\/burgerizzr-makes-the-leap-to-the-main-market-plus-tax-time-foreign-interest-in-ksa-equities-and-the-meltdown-of-openai\/')\">\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\/2023\/11\/21\/burgerizzr-makes-the-leap-to-the-main-market-plus-tax-time-foreign-interest-in-ksa-equities-and-the-meltdown-of-openai\/\">\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=Burgerizzr makes the leap to the main market. 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PLUS: Tax time, foreign interest in KSA equities, and the meltdown of OpenAI\">\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=Burgerizzr+makes+the+leap+to+the+main+market.+PLUS%3A+Tax+time%2C+foreign+interest+in+KSA+equities%2C+and+the+meltdown+of+OpenAI+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F11%2F21%2Fburgerizzr-makes-the-leap-to-the-main-market-plus-tax-time-foreign-interest-in-ksa-equities-and-the-meltdown-of-openai%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\/2023\/11\/21\/burgerizzr-makes-the-leap-to-the-main-market-plus-tax-time-foreign-interest-in-ksa-equities-and-the-meltdown-of-openai\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82244\" class=\"content-area-description single-story post-82244 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-enterpriseam-ksa tag-first-mills tag-naba-alsaha-medical-services tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.c0d490bb-643b-45a4-aa9f-ec693df5db0e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people, and welcome to the first-ever zero issue of EnterpriseAM Saudi<\/strong>, wherein we will chronicle what we immodestly think is one of the most globally compelling business stories of our generation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THIS MORNING\u2019S ISSUE is heavy on capital markets stories<\/strong>, but we\u2019ve also got the latest on drugmaker Spimaco\u2019s turnaround bid, a new air passenger\u2019s bill of rights, and the latest on the meltdown of OpenAI (where the story is literally shifting hour-by-hour). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** This is a zero issue of EnterpriseAM Saudi <\/strong>and has not been published or distributed to a wide audience. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Did you receive this as a forward? <\/strong>Email <a target=\"_blank\" href=\"mailto:editorial@enterprisemea.com\" style=\"\" rel=\"noopener\">editorial@enterprisemea.com<\/a> and let us know if you\u2019d like to be added to our list of beta readers ahead of our launch.<\/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=\"wwtt1\"><\/a>  <strong>SIGN OF THE TIMES- <\/strong><strong>You know Tadawul-mania is at a new level when homegrown burger<\/strong><strong>chain <\/strong><strong>Burgerizzr makes the leap to the big league. <\/strong>Shatirah House Restaurant Co., the owner and operator of the <a target=\"_blank\" href=\"https:\/\/order.burgerizzr.com\/menu\/new-kiosk-122260\/location\/deliver\" style=\"\" rel=\"noopener\">Burgerizzr<\/a> brand, has filed to transition to Tadawul\u2019s main market from parallel market Nomu, the company said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWlEQ3WEUjI-IEiPOxgw6DiQwQ3CU-PeOutL46q7tubc3BQIxEEHPGacqk4Lmut8QZ2t7DlojF-eBbw1x4Xf7i8EwaOKkDetnAKPQ1kA4a01xiQE6QP7R44fy8LeefEWCzivwJuId-JJhDITnMnn8wxNJy-VAKnZgFavMU6XHqVLlsWeggXVdm1xKnjNzJwsD30lSeVQQP5M37uZyN1F0T-tTrtVEr0oqLtGlSKQ-1LUthIgJKItVjFlYrF1lJ22vcQXyMj68\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83NzAyMS9jb21wYW55U3ltYm9sLzk1MjAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">regulatory filing<\/a> yesterday. Burgerizzr hopes the move will make it more attractive to potential shareholders \u2014 only qualified investors can dabble in Nomu, with its light-touch regulation, while an upgrade to the main market opens it to other individual investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- Burgerizzr has been working on this for some time<\/strong> and arranged for <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mohammed-al-ruwaigh-0a28488\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Mohamed Al-Ruwaigh<\/a>, a founder and major shareholder, <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZLbcoIwEIafhsu6K3KydygapViklCq56USbIjNAHEQZ377BznSKpzZ3mf2-P7tJgMISaMEOacKqVBQsk_uYGu-6baA6sdD37b6JwdgdkKln90aBBos2YM2IgcGzHfiqqSOGKtBW2XGG0n-yJi76Knbx3MdwrktgPut5-IIEjbZ_63y8sWz8n_8DkLE6kkB_EDgj0kVi_u3TsxEvb6ANXBnxBNyboZ1w2WQspzB_HfE21NBAXyMzz-oSTYfFIeU1RIUoc_mqYZOYiTXLOMS8gFeZf1cPJeQCTTKx-v4Um6raPiqoYMU-WL3PFNnkWuRbVhzDY74SEurrKjaoXax6VgK05J-85GVnX8pi4-9OAXVddxIhkox3ZIByVdmIXQXLNgnbPIqiJabTh9g9HB2PL6zdF6HSesk!\/dz\/d5\/L0lDU0lLVUtVSkNncFJDZ3BSQ2lDbEVLSUtVU0ovWUJVRUFBQUlJTUlFQUNJQ0tJS0lHT0JPQkdPSkZKRkdKTk5ETkRMSUVLTkhIUEhQTEhBb0VNSW9FQ0EhLzRKQ2lqc1l1T0lRU2t5RkpOUlRrS2FhaG10MnN0bk5Uelc3V1d3V29wVlVZb0EhIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9BTk5PVU5DRU1FTlRfTlVNQkVSLzc2OTgxL2NvbXBhbnlTeW1ib2wvOTUyMC9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvYW5JZC9lbg!!\/\" style=\"\" rel=\"noopener\">to divest last week<\/a> a 0.84% stake to make certain the popular burger chain could meet the liquidity requirement for an upgrade to the main market. Al-Ruwaigh now holds 42.8% of the company, according to data compiled by <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1685542\" style=\"\" rel=\"noopener\">Argaam<\/a>, and was formerly the company\u2019s CEO after a career working FMCG for domestic and multinational players including Al Safi-Danone. The chain had <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1567103\" style=\"\" rel=\"noopener\">100<\/a> outlets nationwide at the end of last year (the last figure it has publicly disclosed) and is looking to <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1491191\" style=\"\" rel=\"noopener\">double<\/a> that number by 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT #1- Foreign ownership of Saudi equities is up 300% in value terms in the <\/strong><strong>past <\/strong><strong>five years<\/strong>, the Capital Markets Authority said in a report. The news comes as the CMA aims to make KSA equities more appealing to foreign investors, who are underrepresented in a market that remains dominated by Saudi individual and institutional investors. We have more on the story in this morning\u2019s news well \u2014 and an update in Planet Finance on <strong>the return of foreigners after last month\u2019s selloff<\/strong>, both below. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>PSA- <\/strong><strong>The Zakat, Tax and Customs Authority is reminding us all that the<\/strong><strong> deadline<\/strong><strong> to submit tax returns is <\/strong><strong>Thursday, 30 November<\/strong>. Zatca is calling on businesses whose annual revenues exceed SAR 40 mn to submit their tax returns for October by 30 November, the authority said yesterday. This can be done either via ZATCA\u2019s <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/en\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">official website<\/a> or through the authority\u2019s <a target=\"_blank\" href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.gazt.egazt&hl=en&gl=US&pli=1\" style=\"\" rel=\"noopener\">mobile application<\/a>. Failure to comply within this timeframe may result in fines ranging from 5% to 25% of the declared tax value.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1117.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>SH*T SHOW AT THE F*CK FACTORY- Sam Altman is out at OpenAI. But is he returning as CEO to <\/strong><strong>the company he founded? Or taking as many as 700 OpenAI staff and decamping for Microsoft?<\/strong> Not even Microsoft boss Satya Nadella seems to know. Sh*t show at the f*ck factory, indeed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Here are the big beats \u2014 and big, lingering questions \u2014 in the drama <\/strong>that the global business press has dubbed the single largest business story of 2023. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-20\/openai-investors-led-by-thrive-angle-to-bring-back-altman?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/54e36c93-08e5-4a9e-bda6-af673c3e9bb5\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/openai-employees-threaten-to-quit-unless-board-resigns-bbd5cc86\" style=\"\" rel=\"noopener\">WSJ<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>1- OpenAI\u2019s board fired Altman over the weekend <\/strong>in what Silicon Valley insiders are calling a \u201ccoup\u201d led by the company\u2019s chief scientist. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>2- The chief scientist is now threatening to leave with Altman<\/strong>, saying he regrets his actions. (Sure, Fredo.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>3- OpenAI\u2019s board<\/strong> (all of them external folks, none of them shareholders) <strong>has missed two <\/strong><strong>deadlines to bring back Altman and then resign themselves<\/strong>. They\u2019ve been under pressure from major shareholders including Microsoft and venture capital outfit Thrive. Instead, they\u2019ve fired the interim CEO they appointed a few days ago (she\u2019s backing Altman) and hired the guy who used to run Twitch.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>4- Nadella announced in a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/satyanadella\/status\/1726509045803336122\" style=\"\" rel=\"noopener\">stone-cold<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/satyanadella\/status\/1726509045803336122\" style=\"\" rel=\"noopener\">tweet<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/satyanadella\/status\/1726509045803336122\" style=\"\" rel=\"noopener\">post<\/a><\/strong><strong> on Elon Musk\u2019s dumpster fire of a social <\/strong><strong>network<\/strong> that Altman is joining Microsoft. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And as of right now: <\/strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/openai-employees-threaten-to-quit-unless-board-resigns-bbd5cc86\" style=\"\" rel=\"noopener\">More than 700 OpenAI staff have threatened to walk<\/a>, Nadella <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2023\/11\/20\/23970100\/sam-altman-microsoft-openai-satya-nadella-interview\" style=\"\" rel=\"noopener\">doesn\u2019t<\/a><a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2023\/11\/20\/23970100\/sam-altman-microsoft-openai-satya-nadella-interview\" style=\"\" rel=\"noopener\">seem to know whether he employs Altman or not<\/a>, and it seems <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2023\/11\/20\/23969586\/sam-altman-plotting-return-open-ai-microsoft\" style=\"\" rel=\"noopener\">Altman is still making a play to return to OpenAI<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PSA- Maybe you don\u2019t want to pay for ChatGPT Plus, after all? <\/strong><a target=\"_blank\" href=\"https:\/\/www.bing.com\/new\" style=\"\" rel=\"noopener\">Microsoft\u2019s Copilot<\/a> (until recently named Bing) is powered by a fairly recent build of ChatGPT and <a target=\"_blank\" href=\"https:\/\/bard.google.com\/chat\" style=\"\" rel=\"noopener\">Google\u2019s Bard<\/a> has exploded out of the gates in recent weeks, now giving users the ability to link Bard to their email as well as to Google\u2019s Docs, Sheets and Slides products, among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE LOCAL ANGLE- Does this mean the end of Altman\u2019s bid to raise funds out of Saudi <\/strong><strong>and the UAE <\/strong>to back a new business focused on chips and devices for AI? He had been in and out of our neck of the woods trying to raise \u201ctens of bns\u201d of USD for unspecified hardware-focused projects, <a target=\"_blank\" href=\"https:\/\/fortune.com\/2023\/11\/19\/sam-altman-was-fundraising-for-chip-venture-to-rival-nvidia-before-openai-ouster\/\" style=\"\" rel=\"noopener\">Fortune<\/a> reports, suggesting Altman had been speaking with the Public Investment Fund as well as Abu Dhabi\u2019s Mubadala. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TODAY-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- <\/strong><strong>It\u2019s the second day of meetings for a Saudi business delegation in Cairo<\/strong> kicking tires on potential investments there. The delegation is being led by Trade Minister Majid bin Abdullah Al Qasabi, who has led meetings with officials including Egyptian Prime Minister Moustafa Madbouly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One-on-one meetings with Egyptian business leaders and government officials are on <\/strong><strong>the agenda for today <\/strong>ahead of tomorrow\u2019s opening of the Egy-GCC Business forum, also in Cairo. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s pitch: <\/strong>Some 90 top executives from both private and state-owned companies will hear from Egyptian officials that the country is <strong>positioning itself as a logistics and manufacturing hub<\/strong> for Saudi companies looking to sell in to Europe, Africa and beyond. Attracting fresh FDI, particularly in manufacturing and exportable services, is a key component of Egypt\u2019s strategy to get past an FX crunch that has weighed on growth since the outbreak of war in Ukraine last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alhokair is already in: <\/strong>CEO Turki Al Hokair, who has joined the delegation, said on Sunday his business plans to invest some USD 1.5 bn in Egypt next year in sectors including energy, real estate, and infrastructure. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yeah, but can they get their money out? <\/strong>Saudi Egyptian Business Council chief Bandar Al Amiri told <a target=\"_blank\" href=\"https:\/\/bit.ly\/47FUSHz\" style=\"\" rel=\"noopener\">CNBC Arabia<\/a> that Egypt\u2019s central bank governor is pursuing a remedy that will make it easier for investors to repatriate dividends from Egypt despite the ongoing FX crunch. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT #2- Saudi of the largest foreign investors in Egypt this year<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2023\/11\/19\/article_2659736.html\" style=\"\" rel=\"noopener\">Al-Eqtesad<\/a> reports, citing <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/\" style=\"\" rel=\"noopener\">Central Bank of Egypt<\/a> figures. Net FDI out of KSA and into Egypt hit USD 2.14 bn in Egypt\u2019s 2022-2023 fiscal year, representing 21.3% of total inbound foreign investment to Egypt in the period. Arab countries accounted for 42.9% of Egypt\u2019s total inbound FDI, half of which came from Saudi, followed by the UAE and China.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO ON THE AGENDA IN CAIRO- Saudi and Egypt are discussing whether to use local <\/strong><strong>currencies in trade exchange<\/strong>, according to state-owned Ahram Online, quoting the head of Egypt\u2019s foreign commercial service. The central banks of both countries are discussing the matter, he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- It's day three of Global Entrepreneurship Week<\/strong> at the <a target=\"_blank\" href=\"https:\/\/taifchamber.org.sa\/\" style=\"\" rel=\"noopener\">Taif Chamber<\/a>, organized by the Ataa Center. The three-day event includes a series of talks and workshops for entrepreneurs in a range of fields. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3<\/strong><strong>- The BRICS and UN will Facetime today<\/strong>to discuss Israel\u2019s war in Gaza, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-20\/brics-leaders-un-to-hold-video-call-tuesday-on-gaza#xj4y7vzkg\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Attendees include all BRICS leaders, making it the first time they\u2019re all in the same gathering since August. Also on the call with United Nations Secretary-General Ant\u00f3nio Guterres and his staff will be representatives of countries invited to join the alliance earlier this year, including Saudi Arabia, Egypt, Iran, Ethiopia, and the United Arab Emirates.<\/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=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING THIS WEEK- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s Thanksgiving week in the United States<\/strong> \u2014 and because we all love a good capitalist discount, Black Friday sales now blanked the Arab world. Saudi is no exception: Some of the bargains on offer at <a target=\"_blank\" href=\"http:\/\/amazon.sa\" style=\"\" rel=\"noopener\">Amazon.sa<\/a> look particularly appealing. Both brick-and-mortar and online retailers are ramping up the hype ahead of this weekend\u2019s festivities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Retail lore has it that Black Friday \u2014 the Friday after US Thanksgiving \u2014 is the day on which major retailers saw their income statements turn from \u201cin the red\u201d to \u201cin the black\u201d for the year. Some of us are a bit, uh, overly sensitive to the notion that a \u201cblack\u201d Friday has a negative connotation in our part of the world, hence the rebranding to \u201cWhite Friday\u201d in some quarters. (We\u2019re looking at you, Amazon.) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OIL WATCH-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>OPEC+<\/strong><strong> could extend <\/strong><strong>oil supply cuts into 2024 in a bid to arrest falling prices<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-consider-whether-more-oil-cuts-needed-sources-2023-11-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing multiple sources at the group of oil producers. The cartel will meet on Sunday, November 26, with prices having fallen c. 20% since late September to hit a four-month low last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In numbers<\/strong>: Brent crude prices fell to USD 79 a barrel this week down from a 2023 peak in September at USD 98. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s weighing on prices? <\/strong>Concern over waning demand and a possible oil surplus next year have slashed prices, despite voluntary supply cuts and the ongoing war on Gaza.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What it means for us: <\/strong>Extending oil cuts will put some downward pressure on the government\u2019s spending program, with oil receipts still accounting for the majority of the inflows into state coffers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil futures edged higher yesterday as traders start pricing in expectations of the supply <\/strong><strong>cut<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-extends-gains-opec-mull-deeper-cuts-2023-11-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Brent crude rose USD 1.18 to USD 81.79 a barrel, while West Texas Intermediate was up USD 1.05 to USD 76.94. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/first-mills\/\">First Mills<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/naba-alsaha-medical-services\/\">Naba Alsaha Medical Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82245\" 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=\"82245\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/we-just-signed-a-local-currency-swap-with-china\/\">\r\n                            KSA, China sign local currency swap worth CNY 50 bn                        <\/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\/2023\/11\/21\/we-just-signed-a-local-currency-swap-with-china\/\" 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\/2023\/11\/21\/we-just-signed-a-local-currency-swap-with-china\/')\">\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\/2023\/11\/21\/we-just-signed-a-local-currency-swap-with-china\/\">\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=We just signed a local currency swap with China&url=https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/we-just-signed-a-local-currency-swap-with-china\/\">\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\/2023\/11\/21\/we-just-signed-a-local-currency-swap-with-china\/&title=We just signed a local currency swap with China\">\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=We+just+signed+a+local+currency+swap+with+China+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F11%2F21%2Fwe-just-signed-a-local-currency-swap-with-china%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\/2023\/11\/21\/we-just-signed-a-local-currency-swap-with-china\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82245\" class=\"content-area-description single-story post-82245 post type-post status-publish format-standard hentry category-economy tag-currency-swap tag-economy tag-enterpriseam-ksa tag-peoples-bank-of-china tag-saudi-arabian-monetary-authority wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.93587cc8-f992-423a-b37b-73b33599b0a3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi Arabia and China signed a bilateral local currency swap agreement worth CNY 50 <\/strong><strong>bn (c. SAR 26 bn)<\/strong>, statements by two countries\u2019 central banks read (<a target=\"_blank\" href=\"https:\/\/www.sama.gov.sa\/ar-sa\/news\/pages\/news-994.aspx\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/english.news.cn\/20231120\/dbf67c1a1f934f97ab796d3fef7f9cbb\/c.html\" style=\"\" rel=\"noopener\">here<\/a>). The move comes as Riyadh and Beijing look to take ties to the next left \u2014 and reflect their shared interest in partially diversifying their non-oil trade away from the greenback. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Neither the Saudi Arabian Monetary Authority (SAMA) nor Beijing\u2019s central bank were loquacious <\/strong><strong>about the three-year swap. <\/strong>SAMA said only that the agreement \u201creflects closer ties between the two banks in fields of common interest.\u201d The People\u2019s Bank of China said separately that the swap will \u201chelp strengthen financial cooperation\u201d and \u201cfacilitate more convenient trade and investment\u201d between the two countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>China is our largest trade partner, with <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2213231\/business-economy\" style=\"\" rel=\"noopener\">bilateral trade<\/a> between the two countries hitting USD 87.3 bn in 2021. The move reflects Crown Prince Mohamed bin Salman\u2019s emphasis on building deeper economic ties with China, where we are already one of that country\u2019s top oil suppliers. We\u2019re also shifting away from the USD as the de-facto currency for oil payments. Business ties with Beijing have grown in recent years as we\u2019ve worked to attract investment in the Kingdom by Chinese tech companies and oil giant Aramco has <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/33z7cyc7\" style=\"\" rel=\"noopener\">poured bns of USD<\/a> into China\u2019s petrochemicals sectors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not only economy: <\/strong>Riyadh and Beijing have shared geopolitical interests, with China <a target=\"_blank\" href=\"https:\/\/foreignpolicy.com\/2023\/03\/14\/china-brokered-saudi-iran-deal-explained-diplomacy-biden\/\" style=\"\" rel=\"noopener\">helping broker<\/a> a historic reestablishment of ties between Riyadh and Tehran earlier this year. Beijing was also the starting point of a visit yesterday by a Middle East delegation led by Foreign Minister Faisal bin Farhan Al Saud for talks on a ceasefire in Gaza.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An easier \u201cI do?\u201d to BRICS? <\/strong>Saudi was <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2023\/08\/24\/business\/saudi-arabia-brics-invitation-intl\/index.html\" style=\"\" rel=\"noopener\">one of six countries<\/a> invited in August to join the BRICS group of nations. We\u2019re expected to join in January with allies including Egypt and the UAE. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s on Beijing\u2019s mind: <\/strong>\u201cChina seems to be using swap lines in a very different way to the US,\" Weitseng Chen, associate professor at the National University of Singapore told Reuters.<br \/>\u201c[China] uses it as a credit line, so it's on a constant basis, instead of a one-time, one-off thing during a financial crisis,\u201d Chen said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The story also got ink from: <a target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/www.reuters.com\/markets\/currencies\/china-saudi-arabia-central-banks-sign-local-currency-swap-agreement-2023-11-20\/&sa=D&source=editors&ust=1706403789384786&usg=AOvVaw2MupTAtJaPQE1pLDUeM6og\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/www.bloomberg.com\/news\/articles\/2023-11-20\/chinese-saudi-central-banks-sign-currency-swap-worth-7-billion&sa=D&source=editors&ust=1706403789385030&usg=AOvVaw2x4lfH4t5-TaEbaJ7wwzhH\" style=\"\" rel=\"noopener\">Bloomberg<\/a> <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/currency-swap\/\">Currency swap<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/peoples-bank-of-china\/\">People\u2019s Bank of China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-arabian-monetary-authority\/\">Saudi Arabian Monetary Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82246\" 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=\"82246\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/investors-have-plenty-of-appetite-for-riyadh-steels-nomu-ipo\/\">\r\n                            Riyadh Steel\u2019s IPO on Saudi\u2019s parallel market was more than 2x oversubscribed                        <\/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\/2023\/11\/21\/investors-have-plenty-of-appetite-for-riyadh-steels-nomu-ipo\/\" 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\/2023\/11\/21\/investors-have-plenty-of-appetite-for-riyadh-steels-nomu-ipo\/')\">\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\/2023\/11\/21\/investors-have-plenty-of-appetite-for-riyadh-steels-nomu-ipo\/\">\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=Investors have plenty of appetite for Riyadh Steel\u2019s Nomu IPO&url=https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/investors-have-plenty-of-appetite-for-riyadh-steels-nomu-ipo\/\">\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\/2023\/11\/21\/investors-have-plenty-of-appetite-for-riyadh-steels-nomu-ipo\/&title=Investors have plenty of appetite for Riyadh Steel\u2019s Nomu IPO\">\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=Investors+have+plenty+of+appetite+for+Riyadh+Steel%E2%80%99s+Nomu+IPO+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F11%2F21%2Finvestors-have-plenty-of-appetite-for-riyadh-steels-nomu-ipo%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\/2023\/11\/21\/investors-have-plenty-of-appetite-for-riyadh-steels-nomu-ipo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1043.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82247\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/investors-have-plenty-of-appetite-for-riyadh-steels-nomu-ipo\/1043-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1043.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1043.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1043.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1043.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82246\" class=\"content-area-description single-story post-82246 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-alinma-investment tag-capital-markets tag-enterpriseam-ksa tag-ipo-watch tag-nomu tag-pfk tag-riyadh-steel tag-rsm tag-tadawul wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.452f1ba0-9531-4c2e-b49f-612dd35673ad.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Riyadh Steel\u2019s Nomu IPO was more than 2x oversubscribed:<\/strong><a target=\"_blank\" href=\"https:\/\/riyadhsteel.com.sa\/en\/home\/\" style=\"\" rel=\"noopener\">Riyadh Steel<\/a> has priced its shares at SAR 17 (USD 4.5) a piece and its book-building process was 222.6% oversubscribed, Alinma Investment, the IPO\u2019s financial advisor and underwriter, said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5yujctp5\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a> yesterday. The steel manufacturer is set to offer some 1 mn ordinary shares, good for a 20% stake in the company. The listing date is yet to be determined.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Last year\u2019s results: <\/strong>The company\u2019s bottom line rose 13.6% to SAR 5 bn y-o-y in 2022, up from SAR 4.5 bn in 2021, according to the <a target=\"_blank\" href=\"https:\/\/riyadhsteel.com.sa\/wp-content\/uploads\/2023\/11\/riyadh_steel_ar.pdf\" style=\"\" rel=\"noopener\">IPO prospectus (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- Nomu is Tadawul\u2019s version of London\u2019s AIM<\/strong>, offering lighter listing and financial reporting requirements in a bid to attract companies at earlier stages of development, including smaller businesses and startups. There is no profitability requirement to list on Nomu, which is open only to qualified investors (read: most day-trading retail investors need not apply). <strong>Want to go deeper? <\/strong><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/rules-guidance\/capital-market-overview\/Equities\" style=\"\" rel=\"noopener\">Tap or click here.<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some companies use Nomu as a stepping stone to \u201cupgrade\u201d to the main market<\/strong>, as burger chain Burgerizzr did yesterday. (See What We\u2019re Tracking Today, above.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/46kndmyn\" style=\"\" rel=\"noopener\">Alinma Investment<\/a> is quarterbacking the transaction as financial advisor and underwriter to Riyadh, while <a target=\"_blank\" href=\"https:\/\/www.pkfalbassam.com\/\" style=\"\" rel=\"noopener\">PFK<\/a> and <a target=\"_blank\" href=\"https:\/\/www.rsm.global\/saudiarabia\/\" style=\"\" rel=\"noopener\">RSM<\/a> are serving as legal accountants, according to the prospectus.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Upcoming Nomu listings <\/strong>on which we\u2019re keeping our eyes open for news:<\/p>\n<ul>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/65c476a2-fcd8-4116-ab8d-8cc7aa643616\/Capital%20is%20leaving%20China%20at%20the%20fastest%20pace%20since%202016\" style=\"\" rel=\"noopener\">NUPCO<\/a>, Saudi\u2019s largest medical procurement firm;<\/li>\n<li>Osool & Bakheet Investment (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/Resources\/IPO\/PDF\/IPO_ENG_2023-09-26_13-04-04_1.pdf\" style=\"\" rel=\"noopener\">prospectus, pdf<\/a>);<\/li>\n<li>View United Real Estate Development (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/Resources\/IPO\/PDF\/IPO_ENG_2023-10-26_10-38-48_1.pdf\" style=\"\" rel=\"noopener\">prospectus, pdf<\/a>);<\/li>\n<li>Lana Medical (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/Resources\/IPO\/PDF\/IPO_ENG_2023-10-03_10-20-43_1.pdf\" style=\"\" rel=\"noopener\">prospectus, pdf<\/a>);<\/li>\n<li>Armah Sports (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/Resources\/IPO\/PDF\/IPO_ENG_2023-10-23_12-39-00_1.pdf\" style=\"\" rel=\"noopener\">prospectus, pdf<\/a>);<\/li>\n<li>Fad International (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/Resources\/IPO\/PDF\/IPO_ENG_2023-10-15_13-07-53_1.pdf\" style=\"\" rel=\"noopener\">prospectus, pdf<\/a>);<\/li>\n<li>Mulkia Investment (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/Resources\/IPO\/PDF\/IPO_ENG_2023-10-18_10-17-34_1.pdf\" style=\"\" rel=\"noopener\">prospectus, pdf<\/a>).<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alinma-investment\/\">Alinma Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/nomu\/\">Nomu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pfk\/\">PFK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/riyadh-steel\/\">Riyadh Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/rsm\/\">RSM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tadawul\/\">Tadawul<\/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=\"82248\" 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=\"82248\">\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\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/foreign-holding-of-saudi-equities-debt-skyrockets-cma-report\/\">\r\n                            Foreign holding of Saudi equities, debt skyrockets \u2013CMA report                        <\/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\/2023\/11\/21\/foreign-holding-of-saudi-equities-debt-skyrockets-cma-report\/\" 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\/2023\/11\/21\/foreign-holding-of-saudi-equities-debt-skyrockets-cma-report\/')\">\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\/2023\/11\/21\/foreign-holding-of-saudi-equities-debt-skyrockets-cma-report\/\">\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=Foreign holding of Saudi equities, debt skyrockets \u2013CMA report&url=https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/foreign-holding-of-saudi-equities-debt-skyrockets-cma-report\/\">\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\/2023\/11\/21\/foreign-holding-of-saudi-equities-debt-skyrockets-cma-report\/&title=Foreign holding of Saudi equities, debt skyrockets \u2013CMA report\">\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=Foreign+holding+of+Saudi+equities%2C+debt+skyrockets+%E2%80%93CMA+report+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F11%2F21%2Fforeign-holding-of-saudi-equities-debt-skyrockets-cma-report%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\/2023\/11\/21\/foreign-holding-of-saudi-equities-debt-skyrockets-cma-report\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82248\" class=\"content-area-description single-story post-82248 post type-post status-publish format-standard hentry category-capital-markets tag-capital-markets tag-enterpriseam-ksa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.90012718-2f2f-407d-8ca2-fbbc9032aa63.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Foreign investors have growing appetite for KSA equities<\/strong>, with their holdings of Saudi shares listed on Tadawul rising to SAE 347 bn at the end of 2022, a 300% increase from the end of 2018, the Capital Markets Authority (CMA) said in an <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/Reports\/Documents\/cma_2022_report-en.pdf\" style=\"\" rel=\"noopener\">annual report (pdf)<\/a> on Monday. Some SAR 180 bn worth of foreign investment has flowed into shares on the Tadawul\u2019s main market in the past five years, the authority said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The CMA has been actively courting foreign institutional investors<\/strong> at the same time as global interest in the Saudi story has been rising. Foreigners held 14.2% of Tadawul\u2019s total freefloat shares at the end of last year, up from 3.8% in 2018, underscoring \u201cgrowing international confidence\u201d in the market, said CME Deputy President Abdullah Binghannam.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A penchant for Saudi debt? <\/strong>Foreign ownership of our debt has grown more than 10x since the market opened <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/QFI\/Documents\/FI-EN.pdf\" style=\"\" rel=\"noopener\">without restriction<\/a> to foreign investors in late 2020, according to the CMA. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said<\/strong>: \u201cThe CMA has made <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/us-saudi-investment-idUSKCN1TR1SS\/\" style=\"\" rel=\"noopener\">major efforts<\/a> in recent years to increase the attractiveness of the Saudi capital market to foreign investors and to encourage their entry and participation in the trading and offerings, as well as in the general assemblies of firms,\u201d the report read. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/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=\"82249\" 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=\"82249\">\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\">PHARMA<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/as-part-of-turnaround-bid-spimaco-unit-partners-with-msd-to-make-advanced-diabetes-meds-in-kingdom\/\">\r\n                            As part of turnaround bid, Spimaco unit partners with MSD to make advanced diabetes meds in Kingdom                        <\/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\/2023\/11\/21\/as-part-of-turnaround-bid-spimaco-unit-partners-with-msd-to-make-advanced-diabetes-meds-in-kingdom\/\" 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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(<a target=\"_blank\" href=\"https:\/\/www.spimaco.com.sa\/\" style=\"\" rel=\"noopener\">Spimaco<\/a>), is partnering with US-based Merck Sharp & Dohme International (<a target=\"_blank\" href=\"https:\/\/www.msd.com\/\" style=\"\" rel=\"noopener\">MSD<\/a>) to manufacture treatments for type-two diabetes in the Kingdom, Spimaco <a target=\"_blank\" href=\"https:\/\/x.com\/SpimacoAddwaeih\/status\/1726238555305902256?s=20\" style=\"\" rel=\"noopener\">said on X<\/a>. Dammam Pharma says it will become the first first facility in the region to produce type-two diabetes treatments, according to <a target=\"_blank\" href=\"https:\/\/cdn.saudigazette.com.sa\/article\/637883\/SAUDI-ARABIA\/Pact-inked-to-manufacture-type-2-diabetes-medications-in-Saudi-Arabia\" style=\"\" rel=\"noopener\">Saudi Gazette<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong><\/p>\n<ul>\n<li>Production will start in early 2024;<\/li>\n<li>Dammam is looking to sell both at home and to regional markets;<\/li>\n<li>The two partners are talking up the transfer of \u201cadvanced pharma technologies\u201d to KSA. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we don\u2019t know:<\/strong> Which molecule(s) and brand(s) might be made at the Spimaco unit, but we\u2019re not talking insulin here: MSD\u2019s diabetes portfolio includes advanced molecules, among them DPP-4 and SGLT4 inhibitors as well as metformin in both combination and standalone therapies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sizing up the market: <\/strong>Nearly 18% of adult Saudis suffer from diabetes, Spimaco CEO Jerome Cabannes says. The total KSA market for pharma products stands at c. SAR 34 bn today and is set to grow to c. SAR 40 bn by 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Spimaco is a turnaround play: <\/strong>Cabannes was until October Spimaco\u2019s <a target=\"_blank\" href=\"https:\/\/www.spimaco.com.sa\/media\/full_news\/455\" style=\"\" rel=\"noopener\">COO<\/a>, when he was asked to step up and lead the company. Spimaco has struggled in recent years, but a turnaround plan kicked off in late 2022 sees the company in the black for 9M 2023 with a net profit of SAR 40 mn (against a loss of SAR 67 mn in the same period last year), <a target=\"_blank\" href=\"https:\/\/ir.spimaco.com.sa\/media\/kvhmircr\/spimaco-3q23-earnings-release_20231106_en_final.pdf\" style=\"\" rel=\"noopener\">the company\u2019s earnings release (pdf)<\/a> shows. The improvement comes on the back of improving revenues and better control of selling, general, and administrative costs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are the planks of the turnaround? <\/strong>Shareholders are looking to create a \u201cnational champion\u201d for the industry and are talking up a management team with both solid business and pharma experience as well as an emphasis on \u201caccelerated delivery of M&A and business development\u201d strategy execution, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1080.pdf\" style=\"\" rel=\"noopener\">recent investor presentation (pdf)<\/a> that directly addresses \u201cWhat\u2019s different this time?\u201d <strong>The presentation identifies diabetes meds as one of its priority markets.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s who: <\/strong>Dammam Pharma Co. specializes in medical and pharmaceutical products. Merck & Co., Inc., is an American multinational pharmaceutical company based in New Jersey that operates as Merck Sharp & Dohme or <a target=\"_blank\" href=\"https:\/\/www.msd.com\/\" style=\"\" rel=\"noopener\">MSD<\/a> internationally.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Plenty of players are working to make the Kingdom a hub for pharma <\/strong><strong>manufacturing<\/strong>, looking to serve both the large domestic market and to capture a share of regional exports. <a target=\"_blank\" href=\"https:\/\/www.nupco.com\/\" style=\"\" rel=\"noopener\">Nupco<\/a>, a Public Investment Fund company and one of KSA\u2019s leading medical procurement companies, signed an MoU last month with local firm <a target=\"_blank\" href=\"https:\/\/sudairpharma.com\/\" style=\"\" rel=\"noopener\">Sudair Pharma<\/a> and global major drugmaker <a target=\"_blank\" href=\"https:\/\/www.sanofi.com\/en\" style=\"\" rel=\"noopener\">Sanofi<\/a> to start the local production of insulin.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/dammam-pharma\/\">Dammam Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diabetes\/\">diabetes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/msd\/\">MSD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nupco\/\">Nupco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sanofi\/\">Sanofi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sudair-pharma\/\">Sudair Pharma<\/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=\"82250\" 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=\"82250\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/gic-grabs-minority-stake-in-pipecare\/\">\r\n                            GCC-owned GIC acquires significant minority stake in UAE-based Pipecare                        <\/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\/2023\/11\/21\/gic-grabs-minority-stake-in-pipecare\/\" 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\/2023\/11\/21\/gic-grabs-minority-stake-in-pipecare\/')\">\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\/2023\/11\/21\/gic-grabs-minority-stake-in-pipecare\/\">\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=GIC grabs minority stake in Pipecare&url=https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/gic-grabs-minority-stake-in-pipecare\/\">\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\/2023\/11\/21\/gic-grabs-minority-stake-in-pipecare\/&title=GIC grabs minority stake in Pipecare\">\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=GIC+grabs+minority+stake+in+Pipecare+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F11%2F21%2Fgic-grabs-minority-stake-in-pipecare%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\/2023\/11\/21\/gic-grabs-minority-stake-in-pipecare\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82250\" class=\"content-area-description single-story post-82250 post type-post status-publish format-standard hentry category-ma-watch tag-enterpriseam-ksa tag-gcc tag-gulf-investment-corporation tag-ma-watch tag-pipecare-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.7a679031-88e2-4a3a-8c8c-fc12752c7dfd.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GCC-owned GIC grabs minority stake in Pipecare:<\/strong>Kuwait-based <a target=\"_blank\" href=\"https:\/\/www.gic.com.kw\/\" style=\"\" rel=\"noopener\">Gulf Investment<\/a><a target=\"_blank\" href=\"https:\/\/www.gic.com.kw\/\" style=\"\" rel=\"noopener\">Corporation<\/a> (GIC) said it acquired a \u201csignificant minority stake\u201d in UAE-based <a target=\"_blank\" href=\"https:\/\/www.pipecaregroup.com\/\" style=\"\" rel=\"noopener\">Pipecare Group<\/a> Holding, a global provider of pipeline inspection services, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/pulse\/gulf-investment-corporation-acquires-equity-stake-pipecare-ckdvf%3FtrackingId=92l4r4Mcb6GSxyiX%252FCZnAA%253D%253D\/?trackingId=92l4r4Mcb6GSxyiX%2FCZnAA%3D%3D\" style=\"\" rel=\"noopener\">company statement<\/a>. The transaction was executed on 15 November, the statement read, without disclosing the size of the stake acquired and the value of the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the funds are going: <\/strong>Pipecare will use the cash infusion to speed its international expansion with a focus on expanding its premium offerings \u2014 namely its \u201chigh-end in-line inspection technologies\u201d \u2014 in the North American market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s another Gulf-Goes-Global story: <\/strong>\u201cThis investment highlights the interest of GIC in partnering with a successful GCC company to help it expand its operations outside the region,\u201d Group Head of Principal Investments at GIC Meshary Al-Judaimi said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s GIC? <\/strong>Established in 1983 by the Gulf Cooperation Council (GCC), GIC is an investment company jointly owned by the six GCC member states. Its primary objective is to boost cooperation and growth through equity commitments, both within the GCC and globally. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Pipecare:<\/strong> Pipecare Group, established in 1998, is a key global provider of in-line inspection services for pipeline operators in some 85 countries. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gulf-investment-corporation\/\">Gulf Investment Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pipecare-group\/\">Pipecare Group<\/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=\"82251\" 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=\"82251\">\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\">TRANSPORT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/new-air-passenger-bill-of-rights-is-live\/\">\r\n                            Saudi Arabia\u2019s GACA declares new passenger rights guidelines effective November 20                        <\/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\/2023\/11\/21\/new-air-passenger-bill-of-rights-is-live\/\" 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\/2023\/11\/21\/new-air-passenger-bill-of-rights-is-live\/')\">\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\/2023\/11\/21\/new-air-passenger-bill-of-rights-is-live\/\">\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=New air passenger bill of rights is live&url=https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/new-air-passenger-bill-of-rights-is-live\/\">\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\/2023\/11\/21\/new-air-passenger-bill-of-rights-is-live\/&title=New air passenger bill of rights is live\">\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=New+air+passenger+bill+of+rights+is+live+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F11%2F21%2Fnew-air-passenger-bill-of-rights-is-live%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\/2023\/11\/21\/new-air-passenger-bill-of-rights-is-live\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82251\" class=\"content-area-description single-story post-82251 post type-post status-publish format-standard hentry category-transport tag-enterpriseam-ksa tag-tourism tag-transport tag-travel wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.cc8475b3-3ff8-41e9-a496-86489bfe1348.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Travelers on airlines in the Kingdom have new rights under guidelines announced <\/strong><strong>yesterday <\/strong>by the General Authority for Civil Aviation (GACA). The Passenger First regulations, as GACA is dubbing them, came into effect yesterday, the authority <a target=\"_blank\" href=\"https:\/\/x.com\/ksagaca\/status\/1726353551763362008?s=20\" style=\"\" rel=\"noopener\">said on X<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they covered: <\/strong>Everything from ticketing and boarding to in-flight services, baggage handling, delays, time spent on tarmac, and assistance for disabled passengers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The package is generous to travelers: <\/strong>The rules could see compensation for delays reaching as high as 200% of the original ticket value in certain circumstances, while passengers will be able to claim up to SAR 6.6k for lost luggage. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve been expecting this for a while now: <\/strong>The new <a target=\"_blank\" href=\"https:\/\/gaca.gov.sa\/web\/ar-sa\/news\/translation-of-ar_sa-22-%D8%A7%D8%BA%D8%B3%D8%B7%D8%B3-2024_76420\" style=\"\" rel=\"noopener\">guidelines<\/a> were first announced in August, but went into effect yesterday. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/travel\/\">travel<\/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=\"82252\" 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=\"82252\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/saudi-fm-arab-counterparts-hit-the-road-to-push-for-gaza-ceasefire\/\">\r\n                            Saudi FM leads Gaza ceasefire push with Arab counterparts                        <\/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\/2023\/11\/21\/saudi-fm-arab-counterparts-hit-the-road-to-push-for-gaza-ceasefire\/\" 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\/2023\/11\/21\/saudi-fm-arab-counterparts-hit-the-road-to-push-for-gaza-ceasefire\/')\">\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\/2023\/11\/21\/saudi-fm-arab-counterparts-hit-the-road-to-push-for-gaza-ceasefire\/\">\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=Saudi FM, Arab counterparts hit the road to push for Gaza ceasefire&url=https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/saudi-fm-arab-counterparts-hit-the-road-to-push-for-gaza-ceasefire\/\">\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\/2023\/11\/21\/saudi-fm-arab-counterparts-hit-the-road-to-push-for-gaza-ceasefire\/&title=Saudi FM, Arab counterparts hit the road to push for Gaza ceasefire\">\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=Saudi+FM%2C+Arab+counterparts+hit+the+road+to+push+for+Gaza+ceasefire+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F11%2F21%2Fsaudi-fm-arab-counterparts-hit-the-road-to-push-for-gaza-ceasefire%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\/2023\/11\/21\/saudi-fm-arab-counterparts-hit-the-road-to-push-for-gaza-ceasefire\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82252\" class=\"content-area-description single-story post-82252 post type-post status-publish format-standard hentry category-war-watch tag-egypt tag-enterpriseam-ksa tag-gaza tag-un-security-council tag-war-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.07a9a69d-1105-4b0c-82e3-298c81131eb6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Foreign Minister Prince Faisal bin Farhan Al Saud is on a mission to convince <\/strong><strong>some of the <\/strong><strong>five permanent members of the UN Security Council to back a ceasefire in Gaza<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2000754\" style=\"\" rel=\"noopener\">Saudi Press Agency<\/a> reported on Monday. The tour of world capitals was one of the mandates of the Arab-Islamic summit hosted in Riyadh earlier this month. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s in: <\/strong>Joining Al Saud on the road are the PMs and foreign ministers of Egypt, Qatar, Jordan, Turkey, Indonesia, and Nigeria. It also includes the Palestinian Foreign Affairs Minister, Arab League Secretary Ahmed Aboul Gheit, and Organization of Islamic Cooperation Secretary General Hussein Ibrahim Taha.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FIRST STOP: Beijing<\/strong>, where bin Abdullah and company met yesterday with Chinese Foreign Minister Wang Yi, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2000816\" style=\"\" rel=\"noopener\">SPA<\/a>. \u201cLet us work together to quickly calm the situation in Gaza and restore peace in the Middle East as soon as possible,\u201d Wang said, <a target=\"_blank\" href=\"https:\/\/aawsat.com\/%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A\/%D8%A7%D9%84%D8%AE%D9%84%D9%8A%D8%AC\/4679191-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D9%85%D8%AC%D8%AA%D9%85%D8%B9-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A-%D8%AA%D8%AD%D9%85%D9%84-%D8%A7%D9%84%D9%85%D8%B3%D8%A4%D9%88%D9%84%D9%8A%D8%A9-%D9%84%D9%88%D9%82%D9%81-%D8%A5%D8%B7%D9%84%D8%A7%D9%82-%D8%A7%D9%84%D9%86%D8%A7%D8%B1-%D9%81%D9%8A-%D8%BA%D8%B2%D8%A9\" style=\"\" rel=\"noopener\">Asharq Al Awsat<\/a> reported. The foreign ministers of Egypt, Jordan, the Palestinian Authority and Indonesia joined Al Saud for the Beijing leg of the tour, according to the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/china-arab-foreign-minister-gaza-palestine-israel-92596ef24d1f8d8e4708e7ad95051c44\" style=\"\" rel=\"noopener\">Associated Press<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- KSRelief sends 15th aid flight: <\/strong>The fifteenth Saudi relief aircraft arrived at Egypt\u2019s El Arish Airport carrying 31 tons of food, water, and medical supplies for Gaza as part of the Saudi Relief Campaign run by local aid agency KSRelief, Saudi Arabia\u2019s embassy in Cairo <a target=\"_blank\" href=\"https:\/\/twitter.com\/KSAembassyEG\/status\/1726533897788482021\" style=\"\" rel=\"noopener\">said on X<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/un-security-council\/\">UN Security Council<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/war-watch\/\">WAR WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82253\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/108985.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>The Luxury of Certainty<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82254\" 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=\"82254\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/currency-swap-gaza-diplomacy-are-driving-the-conversation-on-ksa-in-the-global-press\/\">\r\n                            Currency swap, Gaza diplomacy are driving the conversation on KSA in the global press                        <\/a>\r\n                    <\/h3>\r\n\r\n   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href=\"https:\/\/api.whatsapp.com\/send?text=Currency+swap%2C+Gaza+diplomacy+are+driving+the+conversation+on+KSA+in+the+global+press+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F11%2F21%2Fcurrency-swap-gaza-diplomacy-are-driving-the-conversation-on-ksa-in-the-global-press%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\/2023\/11\/21\/currency-swap-gaza-diplomacy-are-driving-the-conversation-on-ksa-in-the-global-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82254\" class=\"content-area-description single-story post-82254 post type-post status-publish format-standard hentry category-saudi-in-the-news tag-airlines tag-economics tag-enterpriseam-ksa tag-saudi-in-the-news tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.d24d222e-4a01-4564-9aa7-9079bae23474.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No single story is driving the conversation on the Kingdom in the foreign press this <\/strong><strong>morning. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big business story:<\/strong> Both <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/currencies\/china-saudi-arabia-central-banks-sign-local-currency-swap-agreement-2023-11-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-20\/chinese-saudi-central-banks-sign-currency-swap-worth-7-billion?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> have given plenty of attention to the currency swap with China, which we cover in this morning\u2019s news well, above. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign Minister Prince Faisal bin Farhan Al Saud\u2019s tour of P5 security council members <\/strong>(also covered above) is also getting plenty of ink. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In miscellany:<\/strong><\/p>\n<ul>\n<li><strong>We\u2019re channeling our inner Dubai: <\/strong>Six Flags Qiddiya has unveiled what it is billing as the world\u2019s tallest and fastest rollercoaster, getting ink in <a target=\"_blank\" href=\"https:\/\/www.foxbusiness.com\/lifestyle\/record-shattering-roller-coaster-simulates-falling-from-cliff-with-155-mph-speeds\" style=\"\" rel=\"noopener\">Fox Business<\/a> and the <a target=\"_blank\" href=\"https:\/\/nypost.com\/2023\/11\/17\/lifestyle\/six-flags-unveils-worlds-tallest-fastest-rollercoaster-that-sends-riders-off-a-cliff\/\" style=\"\" rel=\"noopener\">New York Post<\/a>.<\/li>\n<li><strong>Good news for tourists: <\/strong>Travelers in the Kingdom will enjoy new rights in an air passenger bill of rights unveiled by the General Authority for Civil Aviation, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/world\/gulf\/saudi\/new-airline-compensation-rules-come-into-force-in-saudi-arabia-1.99504908\" style=\"\" rel=\"noopener\">Gulf News<\/a> writes.<\/li>\n<li><strong>Neom announces new upscale development:<\/strong> Saudi mega city Neom unveiled Epicon, a development featuring two skyscrapers standing (one 225 m tall, the other 275 m) and a 41-key hotel near the resort. (<a target=\"_blank\" href=\"https:\/\/www.archdaily.com\/1009849\/neom-unveils-two-futuristic-coastal-skyscrapers-in-saudi-arabia\" style=\"\" rel=\"noopener\">Archdaily<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/airlines\/\">airlines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economics\/\">economics<\/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\/tourism\/\">tourism<\/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=\"82255\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82256\" 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=\"82256\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/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\/2023\/11\/21\/helping-smes-export-plus-news-from-pif-najran-municipality-keir-first-mills-and-naba-alsaha\/\">\r\n                            Helping SMEs export. PLUS: News from PIF, Najran municipality, Keir, First Mills, and Naba Alsaha                        <\/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\/2023\/11\/21\/helping-smes-export-plus-news-from-pif-najran-municipality-keir-first-mills-and-naba-alsaha\/\" 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\/2023\/11\/21\/helping-smes-export-plus-news-from-pif-najran-municipality-keir-first-mills-and-naba-alsaha\/')\">\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\/2023\/11\/21\/helping-smes-export-plus-news-from-pif-najran-municipality-keir-first-mills-and-naba-alsaha\/\">\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=Helping SMEs export. PLUS: News from PIF, Najran municipality, Keir, First Mills, and Naba Alsaha&url=https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/helping-smes-export-plus-news-from-pif-najran-municipality-keir-first-mills-and-naba-alsaha\/\">\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\/2023\/11\/21\/helping-smes-export-plus-news-from-pif-najran-municipality-keir-first-mills-and-naba-alsaha\/&title=Helping SMEs export. PLUS: News from PIF, Najran municipality, Keir, First Mills, and Naba Alsaha\">\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=Helping+SMEs+export.+PLUS%3A+News+from+PIF%2C+Najran+municipality%2C+Keir%2C+First+Mills%2C+and+Naba+Alsaha+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F11%2F21%2Fhelping-smes-export-plus-news-from-pif-najran-municipality-keir-first-mills-and-naba-alsaha%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\/2023\/11\/21\/helping-smes-export-plus-news-from-pif-najran-municipality-keir-first-mills-and-naba-alsaha\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82256\" class=\"content-area-description single-story post-82256 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-e-finance tag-enterpriseam-ksa tag-first-mills tag-food tag-healthcare tag-kafalah tag-keir tag-manufacturing tag-naba-alsaha tag-najran tag-pif tag-real-estate tag-saudi-electric-company tag-saudi-import-export-bank tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.77b00943-8a59-43fe-b5c5-0a5ccdcdf944.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EXPORTS- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Finance Ministry\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.kafalah.gov.sa\/en\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Kafalah<\/a><\/strong><strong> fund is working is partnering with the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/saudiexim.gov.sa\/en\/Services\/Pages\/Product_014.aspx\" style=\"\" rel=\"noopener\">Saudi<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/saudiexim.gov.sa\/en\/Services\/Pages\/Product_014.aspx\" style=\"\" rel=\"noopener\">Import-Export Bank<\/a><\/strong><strong> to provide finance to SMEs with export ambitions<\/strong>, Kafalah <a target=\"_blank\" href=\"https:\/\/x.com\/Kafalah\/status\/1726210092503126214?s=20\" style=\"\" rel=\"noopener\">said on X<\/a>. Kafalah provides loan-risk guarantees to help spur the growth of SMEs in the Kingdom. The program is designed to make it easier for qualifying businesses to land finance from banks and financial services companies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who can apply? <\/strong>Companies nationwide are eligible to apply provided they\u2019ve been exporters for at least one year and fall in one of the industries covered in the bank\u2019s <a target=\"_blank\" href=\"https:\/\/saudiexim.gov.sa\/en\/Services\/Pages\/Product_014.aspx\" style=\"\" rel=\"noopener\">National Economic Activities<\/a><a target=\"_blank\" href=\"https:\/\/saudiexim.gov.sa\/en\/Services\/Pages\/Product_014.aspx\" style=\"\" rel=\"noopener\">Guide<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>INVESTMENT WATCH-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Egypt\u2019s <\/strong><strong>e-Finance is a little bit more Saudi<\/strong> after the Public Investment Fund (PIF) raised its stake in EGX-listed fintech player e-Finance by two percentage points to 27% by purchasing freefloat shares, e-Finance Chairman Ibrahim Sarhan told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/y5c9b89m\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> in an interview. The Saudi Egyptian Investment Company \u2014 the PIF\u2019s investment arm in Egypt \u2014 had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/1c267f91-82f0-44f9-9d15-b9cca13380d2\/Saudi%20wealth%20fund%20to%20up%20its%20stake%20in%20e-Finance\" style=\"\" rel=\"noopener\">reportedly<\/a> been looking to increase its ownership of the company to 28%. PIF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/316415e5-ccc3-42ca-b442-80dd3b8b2e16\" style=\"\" rel=\"noopener\">acquired 25% of the company<\/a> last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Najran municipality is shopping some 24 investment <\/strong><strong>opportunities<\/strong><strong>across the southern province<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2000793\" style=\"\" rel=\"noopener\">SPA<\/a> reported on Monday. The investments include commercial activities, minerals and building materials, health and medical services among others. Interested investors can apply for the potential investments through <a target=\"_blank\" href=\"https:\/\/furas.momra.gov.sa\/\" style=\"\" rel=\"noopener\">Furas<\/a>, the unified investment platform for Saudi cities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>INFRASTRUCTURE-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Keir and SEC ink SAR 26.4 mn contract:<\/strong>Keir International has landed an SAR 26.4 mn contract with the Saudi Electricity Company (SEC) to deliver a high-voltage interconnection project in Al Khobar, according to a <a target=\"_blank\" href=\"https:\/\/cdn.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDNDoJADISfxQNXWlEQvWEEjD8RNQbci1kUVxJgCSwS395VTxpEe2v7zXRSIBAAyeg1ZlTEPKOJ7PfEOOiWgdrUxJXraDauneF4PbHdLs774L8DuPV0CXjL3gI36KIB5B89fikLf-tJK-IOPoGGiE-gJcMMCEt4-PqHlYU9kwEponNURIVaFXJ8ESIvRwoqWNe1yjhnSaQeeapgk-TCSwHBO_ngHi5PE0FPtK4SqSZyldPstr2lIZeHhnpfgzzdBRh7qW8KfW91OneEbw9U\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83NzAyNC9jb21wYW55U3ltYm9sLzk1NDIvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">company disclosure<\/a> to Tadawul. The contract includes the installation of 115 kV ground cables connecting two stations west of Al-Khobar in the Eastern Province. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MARKET WATCH-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#<\/strong><strong>1-<\/strong><strong>First Mills mulls share buyback to retain talent via ESOP: <\/strong>The Board of Directors of Tadawul-listed milling company <a target=\"_blank\" href=\"https:\/\/firstmills.com\/en\/\" style=\"\" rel=\"noopener\">First Mills<\/a> is set to recommend a 300k-share buyback program at the next general assembly, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/y37kduer\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a> yesterday. The shares will be transferred to a share ownership plan that is part of its long-term incentive compensation scheme for employees. The potential buyback will be funded by the \u201ccompany\u2019s own cash resources,\u201d setting First Mills back some SAR 20.3 mn at the most recent closing price of SAR 67.50 per share. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Naba Alsaha\u2019s BoD approves a 50% capital increase to fuel expansion:<\/strong>Nomu-listed <a target=\"_blank\" href=\"https:\/\/nams.sa\/?lang=en\" style=\"\" rel=\"noopener\">Naba Alsaha Medical Services<\/a> gave the greenlight for a SAR 35 mn capital increase in an extraordinary general assembly meeting, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/t3yjhzxc\" style=\"\" rel=\"noopener\">saying<\/a> the proceeds would \u201csupport and finance the company\u2019s new expansion projects.\u201d <strong>The capital increase will be financed by \u201ccapitalizing part of the company\u2019s earnings balance,\u201d<\/strong> raising the company\u2019s capital to a total of SAR 105 mn shares. While each shareholder will receive one new share for every two they own.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/e-finance\/\">e-Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/first-mills\/\">First Mills<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/kafalah\/\">Kafalah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/keir\/\">Keir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/naba-alsaha\/\">Naba Alsaha<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/najran\/\">Najran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pif\/\">PIF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-electric-company\/\">Saudi Electric Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-import-export-bank\/\">Saudi Import-Export Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trade\/\">trade<\/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=\"82257\" 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=\"82257\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/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\/2023\/11\/21\/theyre-back-foreign-investors-make-u-turn-after-panic-exit-in-october\/\">\r\n                            Foreign investors in Saudi equities return to market after October\u2019s panic exit                        <\/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\/2023\/11\/21\/theyre-back-foreign-investors-make-u-turn-after-panic-exit-in-october\/\" 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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Foreign ownership of freefloat shares was roughly flat at 12.50%, down from 12.56% the previous week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But, it's going to be a bumpy ride: <\/strong>\u201cSaudi Arabia has a strong fundamental story and significant untapped potential,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-15\/foreign-flows-are-resuming-to-saudi-stocks-after-october-exodus?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports quoting Junaid Ansari, director of investment strategy and research at Kamco Investment. \u201cThat said, we expect volatility in the near term due to a lot of chaos in the market,\u201d Ansari added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the pundits are tipping: <\/strong>\u201cKeeping exposure to <strong>consumer staples, utilities and health <\/strong><strong>care<\/strong> should provide a hedge,\u201d said Aditum Investment Head of Investment Structuring Ali El Adou. <\/p>\n<p><a target=\"_blank\" id=\"t.7cc9316fcdf88d6e97d1af28a1de81b0cc913bfe\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<thead>\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\">11,118<\/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: +6.1%)<\/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>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\">1,442<\/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: -1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr style=\"\">\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:50.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-<\/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\">3.75<\/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\">-<\/p>\n<\/td>\n<\/tr>\n<tr style=\"\">\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:50.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-<\/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\">6% 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\">5.5% 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\">24,760<\/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\">-0.6% (YTD: +69.6%)<\/p>\n<\/td>\n<\/tr>\n<tr style=\"\">\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:50.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-<\/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\">9,575<\/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\">-unch- (YTD: -6.2%)<\/p>\n<\/td>\n<\/tr>\n<\/thead>\n<tbody><\/tbody>\n<tbody>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,002<\/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: +20%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&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\">4,514<\/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: +17.6%)<\/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>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\">7,484<\/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: +0.5%)<\/p>\n<\/td>\n<\/tr>\n<tr style=\"\">\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:50.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-<\/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\">4,339<\/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\">-unch- (YTD: +14.3%)<\/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>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 82.8<\/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\">+2.7%<\/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 <\/strong>(Nymex)<\/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 2.96<\/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\">-3.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 1,984.70<\/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-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 37,030.07<\/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\">+1.3% (YTD: 123.7%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI fell 0.2% yesterday<\/strong> on turnover of SAR 7.1 bn (x.xx% above the 90-day average).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Naqi (+6.5%), Ades (+1.8%) and Al Omran (+2.5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Al Rajhi Takaful (-6.2%), UACC (-0.5%) and Al Aseel (-0.1%). <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tadawul\/\">Tadawul<\/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=\"82258\" 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PLUS: Saudi-Irish business forum meets\">\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=Global+arms+manufacturers+are+starting+to+look+at+us+through+a+new+lens.+PLUS%3A+Saudi-Irish+business+forum+meets+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F11%2F21%2Fglobal-arms-manufacturers-are-starting-to-look-at-us-through-a-new-lens-plus-saudi-irish-business-forum-meets%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\/2023\/11\/21\/global-arms-manufacturers-are-starting-to-look-at-us-through-a-new-lens-plus-saudi-irish-business-forum-meets\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82258\" class=\"content-area-description single-story post-82258 post type-post status-publish format-standard hentry category-diplomacy tag-defense-systems tag-diplomacy tag-enterpriseam-ksa tag-manufacturing tag-saudi-irish-relations wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.0bb1fbd3-c697-4e0d-a353-583e67c99074.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Geopolitical calculations set off by Israel\u2019s war in Gaza are prompting global arms <\/strong><strong>manufacturers to look at the Saudi market in new light even<\/strong> as we <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/lockheed-martin-invest-1-bln-military-manufacturing-s-arabia-2022-03-08\/\" style=\"\" rel=\"noopener\">position ourselves as an emerging hub for defense systems production<\/a>. The Kingdom remains, by most counts, the world\u2019s second-largest arms importer. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>First up: Germany may be having a change of heart and is now considering selling us <\/strong><strong>fighter jets. <\/strong>Germany\u2019s coalition government could consider going ahead with a multi-bn EUR sale of Eurofighter Typhoon jets, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0af82837-b03a-4e17-b393-f486ed0107cf\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. It\u2019s not a certainty yet, but changing views of regional security issues are prompting Berlin to reconsider the sale, on which it put brakes back in 2018.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, we\u2019re <\/strong><strong>shopping for missiles \u2014 and South Korea is pumped<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2023-11-19\/saudi-arabia-could-hold-the-key-to-seoul-s-arms-ambitions?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, suggesting Saudi may be just what Korea was hoping for as it looks to build its arms export industry. The Cheongung II KM surface-to-air system system, designed by a group of South Korean affiliates of <a target=\"_blank\" href=\"https:\/\/www.hanwha.com\/en\/products_and_services\/affiliates\/hanwha-aerospace.html\" style=\"\" rel=\"noopener\">Hanwha Aerospace<\/a>, could cost more than USD 3.5 bn, a bit more than the UAE paid for a similar system. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>Saudi Chambers of Commerce and Industry hosted the kickoff yesterday of the <\/strong><strong>Saudi-Irish Business Forum<\/strong>in Riyadh, Asharq Al Awsat <a target=\"_blank\" href=\"https:\/\/aawsat.com\/%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\/4679381-%D9%85%D9%84%D8%AA%D9%82%D9%89-%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D8%A7%D9%84%D8%A2%D9%8A%D8%B1%D9%84%D9%86%D8%AF%D9%8A-%D9%8A%D8%A8%D8%AD%D8%AB-%D8%A7%D9%84%D8%AA%D8%B9%D8%A7%D9%88%D9%86-%D9%81%D9%8A-%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%B7%D9%8A%D8%B1%D8%A7%D9%86-%D9%88%D8%A7%D9%84%D9%85%D9%88%D8%A7%D8%B1%D8%AF-%D8%A7%D9%84%D8%A8%D8%B4%D8%B1%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">reported<\/a>, saying that human resources and aviation were high on the list of topics at a meeting attended by representatives of more than 80 Saudi and Irish businesses. Irelands\u2019s minister of state for business, employment, and retail, Neil Richmond, attended. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What Ireland wants: <\/strong>Richmond told attendees that Irish companies are openly interested in investing in KSA \u2014 and called on Saudi companies to look at Ireland as a prospective partner.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/defense-systems\/\">defense systems<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-irish-relations\/\">Saudi-Irish relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82259\" 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\/2023\/11\/21\/82259\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82259\" class=\"content-area-description single-story post-82259 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-21 November<\/span><span> (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/taifcci\/status\/1725865499395821653\/photo\/1\" style=\"\">The Global Entrepreneurship Week<\/a><\/span><span style=\"font-weight:400;\">, Taif Chamber, Al Taif, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-23 November<\/span><span> (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.monshaat.gov.sa\/form\/Transportations_Logistics_Week\" style=\"\">Transport and Logistics Week<\/a><\/span><span>, Riyadh, Khobar, Jeddah, and Medinah, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-23 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/arabal-2023-conference-to-be-held-in-the-kingdom-of-saudi-arabia-xwmxj8fj\" style=\"\">ARABAL 2023 Conference, Hilton Riyadh Hotel & Residences<\/a><\/span><span style=\"font-weight:400;\">, Hilton Riyadh Hotel & Residences, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-25 November (Thursday-Saturday); <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saifexpo.com\/\" style=\"\">Saudi International Football (SAIF): Expo<\/a><\/span><span style=\"font-weight:400;\">, Jeddah Center For Forums & Events, Jeddah, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rpm.energia-me.com\/\" style=\"\">Reliability & Maintainability Conference & Exhibition 2023<\/a><\/span><span style=\"font-weight:400;\">, Grand Hyatt Hotel, Al Khobar, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/nct-events.com\/event\/nct-middle-east\" style=\"\">NCT Middle East<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-29 November (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudihoreca.com\/\" style=\"\">Saudi HORECA<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 November (Thursday): Start of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/riyadhart.sa\/en\/noor-riyadh\/\" style=\"\">Noor Riyadh<\/a><\/span><span style=\"font-weight:400;\"> show, King Abdullah Financial District, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 December (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fiabci.org\/fr\/news-room\/view\/389\" style=\"\">FIABCI Global Leadership Summit<\/a><\/span><span>, <\/span><span style=\"font-weight:400;\">Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 December (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/taxcom.me\/\" style=\"\">Taxcom Middle East<\/a><\/span><span>,<\/span><span style=\"font-weight:400;\"> Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5-6 December (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/informaconnect.com\/education-investment-saudi.com\/\" style=\"\">Education Investment Saudi<\/a><\/span><span>, <\/span><span style=\"font-weight:400;\">Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-7 December (Wednesday- Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/middle-east.collectionsummit.com\/\" style=\"\">Collection and Recovery Middle East Summit<\/a><\/span><span>,<\/span><span style=\"font-weight:400;\"> Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16 December (Saturday): end of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/riyadhart.sa\/en\/noor-riyadh\/\" style=\"\">Noor Riyadh<\/a><\/span><span style=\"font-weight:400;\"> show, segment \u201cThe Bright Side of the Desert Moon, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-20 December (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-sg.com\/\" style=\"\">Smart Grid Conference<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-20 December (Tuesday- Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiairportexhibition.com\/\" style=\"\">Saudi Airport Exhibition<\/a><\/span><span>,<\/span><span style=\"font-weight:400;\"> Riyadh, KSA.<\/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;\">19-21 December (Tuesday-Thursday): International Digital Signage Expo 2023, Riyadh, KSA.<\/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;\">2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JANUARY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-11 January (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futuremineralsforum.com\/\" style=\"\">Future Minerals Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-17 January (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiprojectshow.com\/\" style=\"\">The International Exhibition for construction and building materials (Saudi Projects)<\/a><\/span><span style=\"font-weight:400;\">, Jeddah, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-31 January (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudifranchiseexpo.com\/\" style=\"\">Saudi Franchise Expo 2024<\/a><\/span><span style=\"font-weight:400;\">, Jeddah, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-6 February (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.simec-expo.com\/\" style=\"\">SIMEC International Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5-7 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudihoreca.com\/\" style=\"\">Saudi HORECA 2024,<\/a><\/span><span style=\"font-weight:400;\"> Jeddah, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-14 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iptcnet.org\/\" style=\"\">The International Petroleum Technology Conference (IPTC)<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/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;\">22 February (Thursday): Founding Day, a national holiday. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-29 February (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.big5constructsaudi.com\/\" style=\"\">Big 5 Construct Saudi<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-29 February (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.big5constructsaudi.com\/specialized-events\/fm-expo-saudi\/\" style=\"\">FM EXPO SAUDI<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-29 February (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.big5constructsaudi.com\/specialized-events\/stone-surface-event\/\" style=\"\">Stone and Service Saudi Arabia<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARCH<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2 March (Friday): end of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/riyadhart.sa\/en\/noor-riyadh\/\" style=\"\">Noor Riyadh<\/a><\/span><span style=\"font-weight:400;\"> show, segment \u201cRefracted Identities, Shared Futures\u201d, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-6 March (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dust.ncm.gov.sa\/register\/\" style=\"\">International Conference on Sand and Dust Storms in the Arabian Peninsula<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 March (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/onegiantleap.com\/\" style=\"\">LEAP 2024,<\/a><\/span><span style=\"font-weight:400;\"> Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11 March (Monday): Flag Day, a national 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;\">Signposted to happen sometime in March:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Ramadan <\/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;\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in April:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Eid Al-Fitr <\/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;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-21 May (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudienergyconvention.com\/\" style=\"\">Saudi Energy Convention<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-23 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thesaudifoodshow.com\/\" style=\"\">The Saudi Food Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/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 May:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Global Trade Review (GTR): KSA<\/span><\/li>\n<li><span style=\"font-weight:400;\">Saudi Energy Convention<\/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;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/saudi-arabia-host-world-environment-day-2024-focus-land-restoration\" style=\"\">World Environment Day<\/a><\/span><span style=\"font-weight:400;\">, KSA.<\/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 June:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Eid Al-Adha <\/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;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-12 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/informaconnect.com\/saudi-event-show\/\" style=\"\">The Saudi Event Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/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 (Monday): National day, a national 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;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-13 December (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/saudi-arabia-host-world-environment-day-2024-focus-land-restoration\" style=\"\">Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":82243,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-82242","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5c6bcfed-b39d-4bf1-837c-6b59587160de","teaser":"","photo_url":"https:\/\/ent.news\/2024\/1\/2261.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>SAMA, People\u2019s Bank of China agree to SAR 26 bn currency swap - 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\/sama-peoples-bank-of-china-agree-to-sar-26-bn-currency-swap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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