{"id":82530,"date":"2023-12-05T00:00:00","date_gmt":"2023-12-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=82530"},"modified":"2025-12-14T17:08:54","modified_gmt":"2025-12-14T17:08:54","slug":"saudi-isnt-going-to-play-along-with-a-blanket-phase-out-of-oil-gas-energy-minister","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/saudi-isnt-going-to-play-along-with-a-blanket-phase-out-of-oil-gas-energy-minister\/","title":{"rendered":"Saudi isn\u2019t going to play along with a blanket phase-out of oil, gas \u2013Energy Minister"},"content":{"rendered":"<section id=\"82532\" 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=\"82532\">\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\/12\/05\/is-vladimir-putin-coming-to-riyadh-plus-pmi-shows-the-economy-is-roaring-despite-cost-pressure\/\">\r\n                            THIS MORNING: Is Vladimir Putin coming to Riyadh? PLUS: PMI shows the economy is roaring despite cost pressure                        <\/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\/12\/05\/is-vladimir-putin-coming-to-riyadh-plus-pmi-shows-the-economy-is-roaring-despite-cost-pressure\/\" 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\/12\/05\/is-vladimir-putin-coming-to-riyadh-plus-pmi-shows-the-economy-is-roaring-despite-cost-pressure\/')\">\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\/12\/05\/is-vladimir-putin-coming-to-riyadh-plus-pmi-shows-the-economy-is-roaring-despite-cost-pressure\/\">\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=Is Vladimir Putin coming to Riyadh? 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It\u2019s the slowest day for news in Saudi Arabia since we <\/strong><strong>started writing zero issues <\/strong>a bit more than two weeks ago, but at least a couple of the ones we do have are stories that could have global implications. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a><strong>UP FIRST- Russian President Vladimir Putin may be coming to town <\/strong>as a part of a two-stop tour of the region that will see him touch down first in Dubai. Putin has rarely traveled since his country invaded Ukraine. While the Kingdom has yet to announce a visit, two Russian media outlets broke the news, which was then confirmed by Russian state news agency Tass (per <a target=\"_blank\" href=\"https:\/\/www.politico.eu\/article\/vladimir-putin-plans-visit-saudi-arabia-uae-week-mohammed-bin-salman\/\" style=\"\" rel=\"noopener\">Politico<\/a>) and picked up by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/putin-visit-uae-saudi-arabia-this-week-russian-news-outlet-2023-12-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-04\/putin-to-visit-saudi-arabia-uae-in-rare-trip-abroad?srnd=premium-middle-east&sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the agenda in Riyadh: Talks with Crown Prince and Prime Minister Mohamed bin <\/strong><strong>Salman. <\/strong>Russian outlet Shot quotes Putin aide Yury Ushakov as saying that, \u201cI hope that these will be very useful negotiations, which we consider extremely important.\u201d Ushakov didn\u2019t say what Putin and Prince Mohamed would be discussing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong>Saudi and Russia have done well coordinating their policy on oil output levels at OPEC+, delivering an agreement last week to slash some 2.2 mn barrels a day of production heading into 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a>  <strong>AND- Speaking of oil: Saudi is going to deliver OPEC+ oil cuts \u2014 and they may last <\/strong><strong>longer <\/strong><strong>than previously telegraphed. <\/strong>\u201cI honestly believe that the delivery of the 2.2 million will happen. I honestly believe that the 2.2 mn will overcome to inventory build that usually happens in the first quarter. \u2026 These 2.2 mn won\u2019t necessarily disappear in April. We wanted to be careful to note that the production cut will be phased out gradually and according to market conditions,\u201d he <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2023-12-04\/opec-cuts-will-be-delivered-saudi-energy-minister-says-video?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">told Bloomberg TV<\/a>. <strong>The cuts could \u201cabsolutely\u201d continue past April<\/strong>, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong>BREAKING- Business activity and demand grew again last month<\/strong>, according to the Riyad Bank Saudi Arabia Purchasing Managers\u2019 Index, released just as we were about to hit \u201csend\u201d on this morning\u2019s edition. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One thing to know: <\/strong>The private, non-oil economy is roaring, but cost pressures came in at the highest rate in a year and a half. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In numbers:<\/strong> \u201cThe headline PMI dropped from 58.4 in October to 57.5 in November, but stayed well above the 50.0 neutral threshold to signal <strong>a marked improvement in business conditions<\/strong>\u201d across the non-oil private sector, the report says. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also out today:<\/strong> The Egypt and Qatar gauges, while the UAE gauge is out tomorrow.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We\u2019ll have full coverage for you tomorrow morning, or you can go <a target=\"_blank\" href=\"https:\/\/www.pmi.spglobal.com\/Public\/Home\/PressRelease\/e483b2d32b624b2e83bcd647194d4943\" style=\"\" rel=\"noopener\">read for yourself here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** You\u2019re reading Zero Issue #08 of EnterpriseAM KSA. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Think of a zero issue as a \u201cbeta.\u201d<\/strong> This issue has not been published or distributed to a wide audience. The sponsor logos above are not correct because we\u2019re still developing the new Saudi template.<\/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 editorial@enterprisemea.com 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\"><strong>** Have a comment, criticism, or story tip? <\/strong>Hit up <a target=\"_blank\" href=\"mailto:patrick@enterprisemea.com\" style=\"\" rel=\"noopener\">patrick@enterprisemea.com<\/a>. <\/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\"><strong>It\u2019s energy, industry and the \u201cjust transition\u201d day in Dubai.<\/strong> Key topics will include boosting the deployment of renewable energy, unlocking greater energy efficiency, innovation and action for hard-to-abate sectors including steel and aluminum, and the decarbonization of oil and gas supplies including methane abatement and carbon management tech.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The next big business-relevant themes at COP28:<\/strong><\/p>\n<ul>\n<li><strong>Transport<\/strong> \u2014 6 December<\/li>\n<li><strong>Food, agriculture, and water<\/strong> \u2014 10 December<\/li>\n<li><strong>Final negotiations<\/strong> \u2014 10-11 December<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Need to go deeper? <\/strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1733.pdf\" style=\"\" rel=\"noopener\">Click here to check out a handy guide (pdf)<\/a> to the main thematic days and what to expect. Head to the official <a target=\"_blank\" href=\"https:\/\/www.cop28.com\/en\/schedule\" style=\"\" rel=\"noopener\">events schedule<\/a> for a full rundown of all the panels, workshops, discussions, debates, and keynote speeches. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- There are plenty of events happening in Riyadh this morning:<\/strong><\/p>\n<ul>\n<li>It\u2019s day two of the <a target=\"_blank\" href=\"https:\/\/fiabci.org\/fr\/news-room\/view\/389\" style=\"\" rel=\"noopener\">FIABCI Global Leadership Summit<\/a> <\/li>\n<li><a target=\"_blank\" href=\"http:\/\/taxcom.me\/\" style=\"\" rel=\"noopener\">Taxcom Middle East<\/a> takes place today<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/informaconnect.com\/education-investment-saudi.com\/\" style=\"\" rel=\"noopener\">Education Investment Saudi<\/a> runs today and tomorrow.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a><strong><a target=\"_blank\" href=\"http:\/\/www.riyadhcement.com.sa\/\" style=\"\" rel=\"noopener\">Riyadh Cement<\/a><\/strong><strong> is leveling up to the Tadawul today<\/strong> when the company moves from Nomu to make its trading debut on the main market. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That makes two upgrades from the baby bourse to the big show in as many weeks<\/strong> after homegrown burger chain Burgerizzr made the leap last month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And<\/strong><strong>AICTEC wants to follow suit:<\/strong> The board of directors of the Advanced International Company for Communication and Information Technology (AICTEC) has <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2arp3nvn\" style=\"\" rel=\"noopener\">approved<\/a> the company\u2019s transition from parallel market Nomu to Tadawul\u2019s main market. The upgrade still needs approvals from the exchange. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\u2600\ufe0f<strong>PSA- Sun\u2019s out, jumpers off:<\/strong>Expect a mix of sunshine with just a hint of clouds in<strong> Riyadh<\/strong>this morning, with temperatures rising to 26\u00b0C. <strong>Dammam<\/strong> is gearing up for a cool yet humid day, with clear skies, a gentle breeze, and highs of 25\u00b0C. <strong>Jeddah <\/strong>is leaning more towards the warmer side \u2014 expect high humidity and the mercury to peak at 32\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE-<\/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>#1- Riyadh-headquartered APICORP plans USD 1 bn decarbonization drive: <\/strong>APICORP has earmarked up to USD 1 bn to invest in decarbonization technologies under a five-year strategy it <a target=\"_blank\" href=\"https:\/\/www.apicorp.org\/news\/apicorp-rebrands-as-the-arab-energy-fund-unveils-new-strategy-and-plans-up-to-1bn-to-drive-decarbonization-technologies\/\" style=\"\" rel=\"noopener\">said in a statement<\/a> during COP28 yesterday. \u201cThe institution [has a] deep commitment to playing an active role in supporting the MENA\u2019s energy landscape transition towards a net-zero future,\u201d the MENA-focused multilateral financial institution said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And it has a new name: APICORP is rebranding as the Arab Energy Fund. <\/strong>It was previously known as the Arab Petroleum Investments Corporation. It has today a loan portfolio of some USD 4.5 bn, 18% of which is \u201cdedicated to supporting environmentally friendly and socially responsible\u201d projects, it said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Arab Energy Fund\u2019s separate <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.apicorp.org\/what-we-do\/projects\/\" style=\"\" rel=\"noopener\">portfolio of investments<\/a><\/strong><strong> has heavily skewed toward all <\/strong><strong>things green in recent years<\/strong> as it has prioritized investment in everything from green hydrogen in Neom to waste management in the UAE and solar power in Egypt. <\/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-<\/strong><strong><a target=\"_blank\" href=\"https:\/\/pangulfmarketing.com\/\" style=\"\" rel=\"noopener\">Pan Gulf Marketing<\/a><\/strong><strong> has announced its intention to float 600k <\/strong><strong>ordinary shares on Nomu,<\/strong>the transaction\u2019s financial advisor and lead manager, Yaqeen Capital, said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/47fev6m3\" style=\"\" rel=\"noopener\">Tadawul filing<\/a> yesterday. That\u2019s the equivalent of a 12% stake in the company. The offering period will begin on Wednesday, 10 January, and end on Thursday, 18 January. <strong>PGM is an office- and school-supplies distributor <\/strong>that serves Saudi Arabia, the Arab Gulf, and parts of Africa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The kingdom is planning a geographical survey next year <\/strong>under its hunt for critical minerals, the Energy Minister also said in statements picked by <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/dmz6p5ew\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Officials estimate that the Kingdom could be sitting on metals and minerals worth more than <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=b9f7913002&e=8e5fca127e\" style=\"\" rel=\"noopener\">USD 1.3 tn<\/a>. KSA is looking to become a global hub for \u201cgreen metals,\u201d Energy Minister Prince Abdulaziz bin Salman said during the Future Minerals Forum earlier this year.<\/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 TOMORROW-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- It\u2019s the end of the bookbuilding<\/strong> process for the institutional tranche of broadcaster <strong>MBC\u2019s blockbuster IPO<\/strong>. The sale was already fully covered in the first hour of the offering period, leaving it anyone\u2019s guess what the allocation rate will be like. One more sleep and we\u2019ll know more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- KSA\u2019s <\/strong><strong>RSGT set to be the first foreign firm to operate a port in Bangladesh tomorrow:<\/strong><a target=\"_blank\" href=\"https:\/\/rsgt.com\/\" style=\"\" rel=\"noopener\">Red Sea Gateway Terminal International (RSGT)<\/a> \u2014 which is partly owned by the PIF \u2014 will sign a concession agreement tomorrow with the Chittagong Port Authority (CPA) to manage and operate the Patenga Container Terminal in Bangladesh, the <a target=\"_blank\" href=\"https:\/\/unb.com.bd\/category\/Bangladesh\/saudi-company-to-operate-patenga-container-terminal\/126887\" style=\"\" rel=\"noopener\">United News of Bangladesh<\/a> reported yesterday, citing a senior official. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Making history:<\/strong> RSGT is the first foreign company to operate a port in Bangladesh as the South Asian country looks to attract investment and shore up its export base. The container terminal was completed last year and was <a target=\"_blank\" href=\"https:\/\/www.tbsnews.net\/bangladesh\/infrastructure\/saudi-firm-operate-patenga-container-terminal-22-years-660302\" style=\"\" rel=\"noopener\">initially set to be operated<\/a> by the CPA, but Bangladesh\u2019s government opted for a foreign operator instead under a PPP model. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>RSGT <a target=\"_blank\" href=\"https:\/\/www.hellenicshippingnews.com\/rsgt-and-bangladesh-sign-framework-for-patenga-container-terminal-concession\/\" style=\"\" rel=\"noopener\">inked<\/a> a framework agreement for the USD 240 mn terminal back in March. The terminal has a 500k TEU capacity, and is located in Bangladesh\u2019s primary port, the statement said at the time. The port handled a container throughput of 3.2 mn TEU in 2021. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Still due in town: PGA Tour Commissioner Jay Monahan<\/strong>, who said last week that he would be in town to meet with Public Investment Fund Governor Yasir Al-Rumayyan about the PGA \/ Liv Golf \/ European Tour lashup. A deadline for the three to close a transaction looms on 31 December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINTS-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- We\u2019re bonkers for real estate: <\/strong>Reservations for new residential units are up 110% year-on-year in 2023 to more than 12.5k on the back of a surge in new developments, according to <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2420001\/business-economy\" style=\"\" rel=\"noopener\">figures released yesterday<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The kingdom has allocated investments worth USD 188 bn to address <\/strong><strong>the challenges of climate change<\/strong>, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yz2czayw\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, quoting Foreign Minister and Climate Envoy Adel Al Juber as saying on the sidelines of the Saudi Green Initiative Forum in Dubai. \u201cWe\u2019re working on multiple projects to combat climate change, including carbon capture [projects],\u201d he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The number of fintech companies has increased <\/strong><strong>3x<\/strong><strong> to 205 in October <\/strong><strong>2023<\/strong>, up from only 60 in 2020, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5bexjnw3\" style=\"\" rel=\"noopener\">Asharq Al Awsat<\/a> reports, citing remarks by SAMA Deputy Governor Ziad Al Yousef at the opening of the Fintech Saudi conference. Some 41 of those companies are opreating in capital markets, the news outlet writes, quoting Capital Market Authority official Yazeed Al Demaigi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fintech companies have allowed the raising of some SAR 3 bn through crowdfunding <\/strong>for startups and medium-sized companies, Al Demaigi said, adding that robo-advisors now manage assets of more than SAR 1 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORIES ABROAD-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For the first time in almost two months, the war in Gaza isn\u2019t dominating the world\u2019s <\/strong><strong>attention:<\/strong> It\u2019s a mixed picture on the global front pages, with <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-04\/saudi-prince-abdulaziz-bin-salman-says-opec-oil-supply-cuts-can-persist-past-q1?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Saudi oil policy<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ca16e42d-fda9-4c1d-b2c9-410d764745b7\" style=\"\" rel=\"noopener\">war in Ukraine<\/a>, <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/nation\/2023\/12\/04\/mass-shootings-record-year\/\" style=\"\" rel=\"noopener\">mass shootings in America<\/a>, and <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/fourth-republican-presidential-debate-candidates-11038f48f805d5e6b881e3547fe807d8\" style=\"\" rel=\"noopener\">Wednesday\u2019s Republican presidential debate<\/a> all getting coverage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oh, and a longtime US diplomat has been charged with being an agent for Cuba<\/strong> in what <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/americas\/us-charges-former-diplomat-with-acting-an-agent-cuba-2023-12-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> is presenting as \u201cone of the highest-reaching and longest-lasting infiltrations of the U.S. government by a foreign agent.\u201d <\/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> Spotify is laying off 17% of its workforce. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/spotify-reduce-staff-by-17-second-layoff-this-year-2023-12-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7c654f95-8571-471c-8af5-9578cd254386\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/media\/spotify-to-lay-off-17-of-staff-its-third-round-of-job-cuts-this-year-56207b29\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>READ THIS BOOK-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.amazon.com\/Right-Kind-Wrong-Edmondson-Amy-ebook\/dp\/B0CLRTDBTM\/\" style=\"\" rel=\"noopener\">Right Kind of Wrong: The science of failing well<\/a><\/strong><strong> has been named the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e77fda65-f17c-4528-8462-1f4be59da1a1\" style=\"\" rel=\"noopener\">Financial Times and<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e77fda65-f17c-4528-8462-1f4be59da1a1\" style=\"\" rel=\"noopener\">Schroders Business Book of the Year<\/a><\/strong><strong>. <\/strong>The book, by Harvard business professor Amy Edmunston, is about how to learn from failure and take better risks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not your cup of tea? Check out the list of finalists <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/dd1a09b3-de24-4b16-a3c1-c6f9ca85dcf2\" style=\"\" rel=\"noopener\">here<\/a><\/strong><strong>.<\/strong> Mustafa Suleyman\u2019s <a target=\"_blank\" href=\"https:\/\/www.amazon.com\/Coming-Wave-Technology-Twenty-first-Centurys-ebook\/dp\/B0BSKW45KB\/\" style=\"\" rel=\"noopener\">The Coming<\/a><a target=\"_blank\" href=\"https:\/\/www.amazon.com\/Coming-Wave-Technology-Twenty-first-Centurys-ebook\/dp\/B0BSKW45KB\/\" style=\"\" rel=\"noopener\">Wave: AI, Power and the Twenty-First Century\u2019s Greatest Dilemma<\/a> and Walter Isaacson\u2019s <a target=\"_blank\" href=\"https:\/\/www.amazon.com\/Elon-Musk-Walter-Isaacson-ebook\/dp\/B0BW9TRGKV\/\" style=\"\" rel=\"noopener\">Elon Musk<\/a> are both in our TBR pile. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/saudigames.sa\/en\" style=\"\" rel=\"noopener\">2024 Saudi Games<\/a><\/strong><strong> continue today:<\/strong><\/p>\n<ul>\n<li><strong>Today\u2019s finals: <\/strong>futsal and para table tennis.<\/li>\n<li><strong>Also today: <\/strong>basketball, beach volleyball, chess, handball, padel, tennis. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The games wrap on 10 December. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/redseafilmfest.com\/en\/\" style=\"\" rel=\"noopener\">The Red Sea Film Festiva<\/a><\/strong><strong>l continues through Saturday<\/strong>, with Hollywood and European A-listers set to attend. Among them: Johnny Depp, Will Smith, Sharon Stone, and Alessandra Ambrosio.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.fintech-tour.com\/\" style=\"\" rel=\"noopener\">Fintech Tour<\/a><\/strong><strong>kicked off yesterday<\/strong> and will continue until Wednesday, 13 December. The fintech-focused event consists of 15+ events, presentations and meetups involving key local and international speakers in eight cities across the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The International Arabian Horse Show<\/strong> kicks off on Wednesday, 13 December and continues through Saturday, 16 December at the King Abdulaziz Center for Purebred Arabian Horses\u2019 headquarters in Riyadh.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Metallica is coming to Riyadh on Thursday, 14 December<\/strong> as part of the <a target=\"_blank\" href=\"https:\/\/mdlbeast.com\/events\/soundstorm-2023\/lineup\/artists\" style=\"\" rel=\"noopener\">eclectic music<\/a><a target=\"_blank\" href=\"https:\/\/mdlbeast.com\/events\/soundstorm-2023\/lineup\/artists\" style=\"\" rel=\"noopener\">festival Soundstorm<\/a>. Soundstorm runs 14-16 December with a lineup that also includes Pharrell Williams, Chris Brown and Her, DJs Tiesto and David Guetta, Black Eyed Peas, and others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cycling fans have just 10 sleeps left until the Arab Road Cycling Championship<\/strong> comes to Riyadh, with the event running 15-23 December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tickets are on sale for the 2024 Saudi Arabian Grand Prix<\/strong> with less than 100 days to go until the racetrack roars to life in Jeddah from 7-9 March. Grandstand, premium hospitality, and general admission tickets <a target=\"_blank\" href=\"https:\/\/tickets.saudiarabiangp.com\/en\" style=\"\" rel=\"noopener\">are now available<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/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\/apicorp\/\">APICORP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/riyadh-cement\/\">Riyadh Cement<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/the-arab-energy-fund\/\">The Arab Energy Fund<\/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=\"82534\" 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=\"82534\">\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\/12\/05\/saudi-isnt-going-to-play-along-with-a-blanket-phase-out-of-oil-gas-energy-minister\/\">\r\n                            Saudi isn\u2019t going to play along with a blanket phase-out of oil, gas \u2013Energy Minister                        <\/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\/12\/05\/saudi-isnt-going-to-play-along-with-a-blanket-phase-out-of-oil-gas-energy-minister\/\" 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\/12\/05\/saudi-isnt-going-to-play-along-with-a-blanket-phase-out-of-oil-gas-energy-minister\/')\">\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\/12\/05\/saudi-isnt-going-to-play-along-with-a-blanket-phase-out-of-oil-gas-energy-minister\/\">\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 isn\u2019t going to play along with a blanket phase-out of oil, gas \u2013Energy Minister&url=https:\/\/enterpriseam.com\/ksa\/2023\/12\/05\/saudi-isnt-going-to-play-along-with-a-blanket-phase-out-of-oil-gas-energy-minister\/\">\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\/12\/05\/saudi-isnt-going-to-play-along-with-a-blanket-phase-out-of-oil-gas-energy-minister\/&title=Saudi isn\u2019t going to play along with a blanket phase-out of oil, gas \u2013Energy Minister\">\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+isn%E2%80%99t+going+to+play+along+with+a+blanket+phase-out+of+oil%2C+gas+%E2%80%93Energy+Minister+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F12%2F05%2Fsaudi-isnt-going-to-play-along-with-a-blanket-phase-out-of-oil-gas-energy-minister%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\/12\/05\/saudi-isnt-going-to-play-along-with-a-blanket-phase-out-of-oil-gas-energy-minister\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82534\" class=\"content-area-description single-story post-82534 post type-post status-publish format-standard hentry category-economy tag-cop27 tag-economy tag-enterpriseam-ksa tag-oil-and-gas-policy tag-prince-abdulaziz-bin-salman 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\/.c8f8b688-6171-43c0-8a8e-01df3952bb1e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi Arabia isn\u2019t going to play along with a blanket commitment to phasing out oil. <\/strong>That\u2019s the key message from Energy Minister Prince Abdulaziz bin Salman as business, finance and world leaders gather in the UAE for COP28. \u201cAbsolutely not,\u201d Prince Abdulaziz said yesterday in Riyadh when asked in a TV interview whether the Kingdom would agree to calls out of Dubai to phase out (or phase down) hydrocarbon use.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What he said: <\/strong>\u201cI\u2019m not naming names. But those countries who really believe on phasing out and phasing down hydrocarbons, you should come out and put together a plan for how starting the first of January 2024.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Kingdom\u2019s position on the \u201cenergy transition\u201d is clear: It\u2019s not about the mix of fuels <\/strong><strong>used, it\u2019s about reaching zero emissions<\/strong> \u2014 itself a key target of the Kingdom\u2019s economic policy, which sees us using proceeds from fossil fuels to build a diverse, green, globally competitive economy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The question on COP28 delegates\u2019 minds: Will Saudi accept a change in language<\/strong> \u2014 the use of fudge words such as a \u201cshift away\u201d from \u201cunabated\u201d fossil fuel use? Delegates have until Tuesday, 12 December (a week from today) to sort this out: The gathering\u2019s final agreement must be unanimously agreed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cPetrochemicals are here to stay\u201d even as a decarbonization drive pushes ahead<\/strong>,Prince Abdulaziz <a target=\"_blank\" href=\"https:\/\/www.icis.com\/explore\/resources\/news\/2023\/12\/04\/10950471\/gpca-23-petrochemical-demand-to-continue-rapid-growth-saudi-minister\/\" style=\"\" rel=\"noopener\">said<\/a> separately at a meeting of the Gulf Petrochemicals and Chemicals Association (GPCA) in Doha. He said he sees the industry growing 50% to c. 1.2 tons per year by 2040, with demand for basic chemicals like ethylene and propylene rising by over 60%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why petrochemicals are so relevant to the debate: <\/strong>PetChem feedstock accounts for 12% of global oil demand \u2014 a share that should grow as demand for plastics and fertilizers rises, according to a <a target=\"_blank\" href=\"https:\/\/www.iea.org\/reports\/the-future-of-petrochemicals\" style=\"\" rel=\"noopener\">report<\/a> by the International Energy Agency (IEA). Demand for PetChems aer set to account for over a third of the growth in oil demand by 2030, and nearly half by 2050, ahead of industries including aviation and shipping. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart #1: Neither Prince Abdulaziz nor Crown Prince and Prime Minister <\/strong><strong>Mohamed bin Salman have visited Dubai for the climate summit<\/strong> \u2014 though both attended COP27 in Sharm El Sheikh. Prince Abdulaziz spoke via video to attendees at the Saudi Green Initiative in Dubai yesterday, and Prince Mohamed currently has no plans to go to Dubai for the climate summit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart #2: See Prince Abdulaziz\u2019s remarks as part of a reasonably concerted Arab <\/strong><strong>rejection of calls to dump oil and gas.<\/strong> OPEC Secretary General Haitham Al-Ghais, a Kuwaiti, once again pushed <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-04\/cop28-latest-bankers-start-talks-with-all-options-on-the-table?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">back hard yesterday on the International Energy Agency\u2019s call to leave oil and gas in the ground<\/a>. The result, he said, would be \u201cenergy chaos,\u201d he said, taking a swipe at what he called the IAE\u2019s \u201cactivism.\u201d Al-Ghais was speaking at yesterday\u2019s Saudi Green Forum in Dubai. His remarks came as COP28 presidency and UAE minister <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/cop28-president-denies-he-doesnt-respect-climate-science-2023-12-04\/\" style=\"\" rel=\"noopener\">Sultan Al Jaber held a presser<\/a> to address his alleged questioning of climate science.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wide coverage: <\/strong>Prince Abdulaziz\u2019s remarks are getting plenty of coverage in the international press, with a number of outlets syndicating this report from <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-04\/cop28-saudi-energy-minister-says-won-t-agree-to-fossil-fuel-phase-down?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> and another from <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20231204-saudi-arabia-says-absolutely-not-to-oil-phaseout-at-cop28\" style=\"\" rel=\"noopener\">AFP<\/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\/cop27\/\">COP27<\/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\/oil-and-gas-policy\/\">oil and gas policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/prince-abdulaziz-bin-salman\/\">Prince Abdulaziz bin Salman<\/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=\"82535\" 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=\"82535\">\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\">THE HYDROGEN ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/05\/ksa-will-lead-the-global-green-hydrogen-industry-energy-minister-says-as-neom-plant-hits-key-milestone\/\">\r\n                            KSA will lead the global green hydrogen industry, energy minister says, as Neom plant hits key milestone                        <\/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\/12\/05\/ksa-will-lead-the-global-green-hydrogen-industry-energy-minister-says-as-neom-plant-hits-key-milestone\/\" 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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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/252.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82536\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/05\/ksa-will-lead-the-global-green-hydrogen-industry-energy-minister-says-as-neom-plant-hits-key-milestone\/252-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/252.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"252.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/252.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/252.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82535\" class=\"content-area-description single-story post-82535 post type-post status-publish format-standard has-post-thumbnail hentry category-the-hydrogen-economy tag-enterpriseam-ksa tag-green-hydrogen tag-neom tag-renewable-energy tag-the-hydrogen-economy 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\/.c52f7df8-5dc5-448d-843a-c11cff8e0375.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Close watchers of the budding (green) hydrogen economy will find plenty of interest in <\/strong><strong>yesterday\u2019s Saudi Green Initiative<\/strong>, the Kingdom\u2019s flagship event at COP28 in Dubai. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Construction work has wrapped up on phase one of <\/strong><strong>N<\/strong><strong>eom\u2019s mega green hydrogen plant<\/strong><strong>,<\/strong>Energy Minister Prince Abdulaziz bin Salman told attendees at the SGI. Prince Abdulaziz appeared via video conference. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Seeking global leadership: <\/strong>Neom\u2019s USD 8.5 bn green hydrogen project, which is slated to be the <a target=\"_blank\" href=\"https:\/\/www.neom.com\/en-us\/newsroom\/neom-green-hydrogen-investment\" style=\"\" rel=\"noopener\">world\u2019s largest carbon-free green hydrogen plant<\/a>,is one of the cornerstones of the Kingdom\u2019s aim to lead the global green hydrogen market by becoming one of the planet\u2019s largest exporter of the clean-burning fuel, the minister added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The next step: <\/strong>An economic corridor announced earlier this year between India, Europe and the Middle East would support the kingdom\u2019s ambition to export green hydrogen at an affordable price, Prince Abdulaziz added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- The kingdom has big renewable energy tenders set for next year: <\/strong>\u201cWe plan to launch renewable energy tenders for the deployment of 20 GW [of generation capacity] in 2024\u201d he said, without providing details on the timeline. Some 13 GW worth of renewable energy projects are on the drawing board right now, Prince Abdulaziz said, with a further 8 GW worth of capacity now in the construction phase. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background-<\/strong> The USD 8.4 bn green hydrogen plant at Neom is set to reach full capacity by the end of 2026, with all of its production set for export, the minister said. The plant achieved financial close <a target=\"_blank\" href=\"https:\/\/climate.enterprise.press\/stories\/2023\/05\/23\/neom-achieves-financial-close-for-usd-8-4-bn-green-hydrogen-project-101350\/\" style=\"\" rel=\"noopener\">earlier this year<\/a> and will have a 1.2 mn ton annual production capacity once operational. The first batch of wind turbines arrived in Neom\u2019s port with dozens more expected by the year\u2019s end, executives said <a target=\"_blank\" href=\"https:\/\/climate.enterprise.press\/stories\/2023\/10\/11\/today-moroccos-ocp-secures-usb-100-mn-green-loan-for-greenifying-fertilizer-production-ksas-sirc-launches-jv-for-organic-waste-management-102889\/\" style=\"\" rel=\"noopener\">in October<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Need more? <\/strong><a target=\"_blank\" href=\"https:\/\/www.argaam.com\/ar\/article\/articledetail\/id\/1689073\" style=\"\" rel=\"noopener\">Argaam<\/a> and <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/ycyxxz6b\" style=\"\" rel=\"noopener\">Asharq Al Awsat<\/a> have coverage. <\/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\/green-hydrogen\/\">Green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neom\/\">NEOM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/the-hydrogen-economy\/\">THE HYDROGEN ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82537\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div 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src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/185.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82538\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/05\/national-health-ins-program-could-be-a-boon-for-tadawul-listed-healthcare-and-pharma-players-efg-hermes\/185-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/185.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"185.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/185.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/185.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82537\" class=\"content-area-description single-story post-82537 post type-post status-publish format-standard has-post-thumbnail hentry category-healthcare tag-al-dawaa tag-al-hammadi tag-dallah tag-efg-hermes tag-enterpriseam-ksa tag-healthcare tag-middle-east-healthcare tag-mouwasat tag-nahdi tag-national-medical-care tag-spimaco tag-sulaiman-al-habib-medical-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\/.880033ef-4513-4af3-9ee9-b288b595a33a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Tadawul-listed pharma and healthcare players posted strong 3Q 2023 earnings<\/strong>, reversing a weaker-than-expected performance the previous quarter and suggesting the 2Q drop was more seasonal than a sign of structural problems in the industry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Strong healthcare earnings in 3Q: <\/strong>Average earnings across companies covered by EFG Hermes rose 41% y-o-y in 3Q 2023, 13% higher than the bank\u2019s estimates for the quarter, according a fresh research report by EFG Hermes\u2019 Ahmed Moataz and Hatem Alaa. The reports covers six healthcare providers and three pharma players. August and September were particularly good for business, with average earnings growth of 12%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pharma earnings rose 13% y-o-y in 3Q<\/strong> driven by higher ins. market penetration, government programs, and favorable pricing policies, after posting 8% growth in the previous quarter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the sector is in for a challenging year<\/strong> due to a decline in consumer purchasing power along with fierce price competition from online and new global players in the local market. The pressure is likely to persist through August 2024, EFG Hermes said, citing Nahdi Chief Executive Officer Yasser Joharji.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An unfavorable base effect was behind the drop in 2Q: <\/strong>Two Eid holidays and Ramadan negatively impacted earnings of 2Q 2023, while the comparable period featured one Eid only. The sector posted an average earnings growth of only 18% y-o-y in 2Q 2023 \u2014 8% below EFG estimates. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Four providers have investment-grade ratings: <\/strong>EFG Hermes has maintained its rating for <a target=\"_blank\" href=\"https:\/\/care.med.sa\/\" style=\"\" rel=\"noopener\">National Medical Care (Care)<\/a> and <a target=\"_blank\" href=\"https:\/\/saudigermanhealth.com\/en\" style=\"\" rel=\"noopener\">Middle East Healthcare Company (MEAHCO)<\/a> with \u201cbuy\u201d recommendations. The kingdom\u2019s largest healthcare provider, MEAHCO ranked first in terms of earnings growth with a 380% y-o-y increase in 3Q, thanks to a positive base-year effect. Care grew 72% y-o-y in 3Q with positive prospects for growth supported by a plan to acquire a 150-bed long-term care facility in Jeddah before the end of the year. Pharma players <a target=\"_blank\" href=\"https:\/\/www.al-dawaa.com\/english\/\" style=\"\" rel=\"noopener\">Al Dawaa<\/a> and <a target=\"_blank\" href=\"https:\/\/www.spimaco.com.sa\/\" style=\"\" rel=\"noopener\">Spimaco<\/a> (the latter is in the midst of a turnaround bid, which we\u2019ve previously covered) also have positive prospects, leading EFG Hermes to put a \u201cbuy\u201d on their stocks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EFG Hermes isn\u2019t sold on\u2026 <\/strong>The investment bank has downgraded <a target=\"_blank\" href=\"https:\/\/alhammadi.med.sa\/Default.aspx?lang=en\" style=\"\" rel=\"noopener\">Al Hammadi<\/a> to \u201cneutral\u201d and has maintained \u201cneutral\u201d ratings for <a target=\"_blank\" href=\"https:\/\/www.nahdionline.com\/en\/\" style=\"\" rel=\"noopener\">Nahdi<\/a>, <a target=\"_blank\" href=\"https:\/\/www.dallah-hospital.com\/english\/home\" style=\"\" rel=\"noopener\">Dallah<\/a> and <a target=\"_blank\" href=\"https:\/\/www.mouwasat.com\/en\" style=\"\" rel=\"noopener\">Mouwasat<\/a>. It move <a target=\"_blank\" href=\"http:\/\/hmg.com\/en\/pages\/home.aspx\" style=\"\" rel=\"noopener\">Sulaiman Al Habib Medical Group (HMG)<\/a> to a sell.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign investors like Mouwasat the most: <\/strong>Foreign ownership has increased in all of the companies covered in the report, except for Dallah, Al Hammadi and Nahdi, on a YTD basis as of 29 November. Mouwasat had the highest foreign ownership of 13% YTD, followed by Care (11.6%), while Nahdi and MEAHCO shared the third spot at 9.7%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new health ins. (NIH) program is going to have a big impact ont he industry. <\/strong>The program was announced on 30 November by Health Minister Fahad Al Jalajel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NIH in a nutshell: <\/strong>The program is scheduled for launch by 2026 and is set to provide all citizens with full, lifetime coverage where approvals and annual renewals will no longer be required \u2014 and without a ceiling.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Doubling the private sector\u2019s market share by 2030: <\/strong>The market share of private healthcare providers is expected to double to SAR 145 bn, giving them nearly half of what EFG Hermes sees as an SAR 318 bn market by 2030. The government is keen not to crowd out the private sector and is expecting private health ins. to expand by 5x in the coming years on several factors including population growth, more jobs and tourists, amongst others. Private players are also expected to benefit from the government\u2019s privatization program, where 19 healthcare projects are scheduled for PPPs and privatization schemes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The downside risks for the private companies: <\/strong>The government\u2019s push to revamp public hospitals and widen their range of offerings could possibly mean less business for private operators. Private companies could also experience a drop in business activity from cash patients since the new program aims to cover all citizens. Still, premium operators including HMG and Dallah are less prone to this risk since their VIP clients are less price-sensitive and would still opt in for premium paid services. <\/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\/al-dawaa\/\">Al Dawaa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-hammadi\/\">Al Hammadi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/dallah\/\">Dallah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/efg-hermes\/\">EFG Hermes<\/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\/middle-east-healthcare\/\">Middle East Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mouwasat\/\">Mouwasat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nahdi\/\">Nahdi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-medical-care\/\">National Medical Care<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/spimaco\/\">Spimaco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sulaiman-al-habib-medical-group\/\">Sulaiman Al Habib Medical 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=\"82539\" 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=\"82539\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/05\/kayan-petrochemicals-appoints-new-ceo\/\">\r\n                            Kayan Petrochemicals appoints new CEO                        <\/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\/12\/05\/kayan-petrochemicals-appoints-new-ceo\/\" 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\/12\/05\/kayan-petrochemicals-appoints-new-ceo\/')\">\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\/12\/05\/kayan-petrochemicals-appoints-new-ceo\/\">\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=Kayan Petrochemicals appoints new CEO&url=https:\/\/enterpriseam.com\/ksa\/2023\/12\/05\/kayan-petrochemicals-appoints-new-ceo\/\">\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\/12\/05\/kayan-petrochemicals-appoints-new-ceo\/&title=Kayan Petrochemicals appoints new CEO\">\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=Kayan+Petrochemicals+appoints+new+CEO+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F12%2F05%2Fkayan-petrochemicals-appoints-new-ceo%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\/12\/05\/kayan-petrochemicals-appoints-new-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/210.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82540\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/05\/kayan-petrochemicals-appoints-new-ceo\/210-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/210.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"210.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/210.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/210.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82539\" class=\"content-area-description single-story post-82539 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-ksa tag-moves tag-sabic tag-saudi-kayan 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\/.50fdb7a9-464f-4552-827e-ecf88bb091b6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>S<\/strong><strong>audi Kayan Petrochemical Co.<\/strong>\u2019s board of directors have appointed <strong>Sameeh Suliman Al <\/strong><strong>Sahafi<\/strong>(<a target=\"_blank\" href=\"https:\/\/www.yansab.com.sa\/en\/Images\/Yansab-Annual-Report-EN-2022_tcm1047-38873.pdf\" style=\"\" rel=\"noopener\">bio, pdf<\/a>) as the new <strong>CEO<\/strong> of the company, according to a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/45b3a6sj\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Al Sahafi has held leadership positions at companies owned by petrochemicals giant SABIC, where he was most recently president of <a target=\"_blank\" href=\"https:\/\/www.yansab.com.sa\/en\" style=\"\" rel=\"noopener\">Saudi Yanbu Petrochemical Company<\/a> (Yanpet). He was also the president of Arabian Industrial Fibers (Ibn Rushd) and Yanbu National Petrochemical (Yansab). Saudi Kayan <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/52cjzhs7\" style=\"\" rel=\"noopener\">accepted of the resignation<\/a> of former CEO Metab Zaid Al Shahrani in late November. <\/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\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sabic\/\">SAbic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-kayan\/\">Saudi Kayan<\/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=\"82541\" 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=\"82542\" 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=\"82542\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/05\/mmm-video-games\/\">\r\n                            Mmm\u2026 video games\u2026                        <\/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\/12\/05\/mmm-video-games\/\" 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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And <strong>Sir Rocco Forte<\/strong>\u2019s sale of 49% of his eponymous luxury hotel chain to the <strong>Public Investment Fund<\/strong> gets attention from the <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/2023\/dec\/04\/rocco-forte-sells-49-luxury-hotel-chain-saudi-arabia\" style=\"\" rel=\"noopener\">Guardian<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The kingdom\u2019s growing influence on world of <strong>sports<\/strong> got a mention from <a target=\"_blank\" href=\"https:\/\/www.npr.org\/2023\/12\/04\/1216905543\/saudi-arabia-aims-to-expand-its-influence-in-the-sports-world-with-mma-venture\" style=\"\" rel=\"noopener\">NPR<\/a>, while The Verge has a deep dive into Saudi\u2019s global-scale push into <strong>video games<\/strong>, led by Gamer-in-Chief Crown Prince Mohamed bin Salman. <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2023\/12\/1\/23948992\/saudi-arabia-gaming-investment\" style=\"\" rel=\"noopener\">The Kingdom\u2019s timing is \u201cimpeccable,<\/a> \u201d one analyst writes: \u201c<strong>I think Saudi Arabia views esports, to a certain extent, as a distressed asset<\/strong>\u201d \u2014 but one with great growth potential. <\/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\/al-ula\/\">Al Ula<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/jeddah\/\">Jeddah<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82544\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82545\" 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=\"82545\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/05\/rsg-acwa-power-partner-up-for-sustainable-wetland-development\/\">\r\n                            RSG &amp; Acwa partner up for sustainable wetland development                        <\/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\/12\/05\/rsg-acwa-power-partner-up-for-sustainable-wetland-development\/\" 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\/12\/05\/rsg-acwa-power-partner-up-for-sustainable-wetland-development\/')\">\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\/12\/05\/rsg-acwa-power-partner-up-for-sustainable-wetland-development\/\">\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=RSG &#038; Acwa Power partner up for sustainable wetland development&url=https:\/\/enterpriseam.com\/ksa\/2023\/12\/05\/rsg-acwa-power-partner-up-for-sustainable-wetland-development\/\">\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\/12\/05\/rsg-acwa-power-partner-up-for-sustainable-wetland-development\/&title=RSG &#038; Acwa Power partner up for sustainable wetland development\">\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=RSG+%26%23038%3B+Acwa+Power+partner+up+for+sustainable+wetland+development+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F12%2F05%2Frsg-acwa-power-partner-up-for-sustainable-wetland-development%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\/12\/05\/rsg-acwa-power-partner-up-for-sustainable-wetland-development\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/258.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82546\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/05\/rsg-acwa-power-partner-up-for-sustainable-wetland-development\/258-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/258.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"258.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/258.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/258.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82545\" class=\"content-area-description single-story post-82545 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-acwa-power tag-also-on-our-radar tag-enterpriseam-ksa tag-red-sea-global tag-riyadh-air tag-tourism tag-turkish-airlines 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\/.4d7466d4-9437-4758-9c2f-8b9fc6bc7950.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AVIATION-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Riyadh Air, Turkish Airlines partner up in codeshare agreement: <\/strong>The kingdom\u2019s newest airline, Riyadh Air, signed a strategic partnership agreement with Turkish Airlines that includes codesharing, the two said in a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/turkish-airlines-and-riyadh-air-sign-strategic-cooperation-mou-fyyi544x\" style=\"\" rel=\"noopener\">joint statement<\/a> yesterday. They will also explore the possibility of developing a loyalty agreement covering both of the airlines\u2019 global networks and implementing broader cooperation in aviation related services, cargo and digital development. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Saudi and Sierra Leone are opening their air travel markets to each other<\/strong>, <a target=\"_blank\" href=\"https:\/\/english.news.cn\/20231205\/e5f3a791d5454b268ddde6ef60eaee06\/c.html\" style=\"\" rel=\"noopener\">setting the<\/a><a target=\"_blank\" href=\"https:\/\/english.news.cn\/20231205\/e5f3a791d5454b268ddde6ef60eaee06\/c.html\" style=\"\" rel=\"noopener\">stage<\/a> for possible direct flights. The agreement, like the Riyadh Air-Turkish tie-up, was inked on the sidelines of the International Civil Aviation Organization's meeting in Riyadh. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BIODIVERSITY-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RSG, Acwa Power <\/strong><strong>to develop new wetlands under biodiversity push: <\/strong>Multi-project developerRed Sea Global (RSG) \u2014 which is owned by the PIF \u2014 said it has partnered with leading utility provider Acwa Power to develop more than 20 acres of new wetlands, it said in a <a target=\"_blank\" href=\"https:\/\/www.redseaglobal.com\/-\/media-center\/red-sea-global-and-acwa-power-create-more-than-20-acres-of-new-wetlands-in-line-with-saudi-arabia-s-climate-action\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The partnership will focus on a wastewater facility at the destination The Red Sea that will treat effluent in an environmentally friendly way. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E-GOVERNMENT-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SGT lands SAR 100 mn contract from Investment Ministry: <\/strong>Riyadh-based <a target=\"_blank\" href=\"https:\/\/www.sure.com.sa\/en\/\" style=\"\" rel=\"noopener\">Sure Global<\/a><a target=\"_blank\" href=\"https:\/\/www.sure.com.sa\/en\/\" style=\"\" rel=\"noopener\">Tech Co<\/a> (SGT) has secured a four-year SAR 100 mn open framework agreement to develop technical investment services and applications for the Investment Ministry, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/298d3ffa\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The contract includes the maintenance of existing systems, updating current systems, and applying necessary technical upgrades to ensure business continuity for the ministry\u2019s technical systems. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>M&A WATCH-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Clay pipes manufacturer SVCP looks to acquire cement <\/strong><strong>producer SLF in SAR 26 mn <\/strong><strong>transaction.<\/strong> The Saudi Vitrified Clay Pipes company (<a target=\"_blank\" href=\"https:\/\/www.svcp-sa.com\/en\/index.php\/about-us\/overview\" style=\"\" rel=\"noopener\">SVCP<\/a>) inked a non-binding MoU with the owners of Saudi Land Factory for Cement Products (<a target=\"_blank\" href=\"https:\/\/slfcom.com\/en_us\/about-us\/\" style=\"\" rel=\"noopener\">SLF<\/a>) to acquire the cement products maker, the company said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3xztb8a7\" style=\"\" rel=\"noopener\">disclosure<\/a> to Tadawul earlier this week. It\u2019s not clear whether the transaction will be paid in cash, shares, or a combination of both. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why? <\/strong>SVCP wants to diversify by adding concrete pipes, manholes and box culverts to its lineup, the company said in its disclosure to Tadawul. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>90-days of due diligence and the appointment of advisors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DEFENSE- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US State Dept. okays weapons sale: <\/strong>The Biden administration has signed off on a possible USD 582 mn sale of technology and equipment that will allow the Royal Saudi Airforce to upgrade and modernize its Boeing RE-3A Tactical Airborne Surveillance System. L3 Technologies, a Texas-based company, will get the contract to carry out the upgrade provided Congress signs off on the program, according to a <a target=\"_blank\" href=\"https:\/\/www.dsca.mil\/press-media\/major-arms-sales\/saudi-arabia-re-3a-tactical-airborne-surveillance-system-aircraft\" style=\"\" rel=\"noopener\">statement out overnight from the US Defense Security Cooperation Agency<\/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\/acwa-power\/\">ACWA power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                  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data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"271.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/271.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/271.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82547\" class=\"content-area-description single-story post-82547 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-barclays tag-cryptocurrency tag-enterpriseam-ksa tag-federal-reserve tag-financial-markets tag-planet-finance tag-qatar tag-qatar-investment-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\/.41e5a9d6-433f-4a75-be7a-b0b138ba1303.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Market hype over the Fed\u2019s interest rate position is tempering:<\/strong> The so-called \u201cmeltup\u201d in the financial markets that accompanied statements made by the chair of the Federal Reserve last week stuttered in the week\u2019s first day of trading yesterday, with stocks falling, US yields rising, and gold falling back from record highs. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/64121833-7675-4fb0-b223-e5da836c416e\/\" style=\"\" rel=\"noopener\">Risk assets soared last week<\/a> on hopes that the US central bank would begin to cut interest rates sooner than expected.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil resumes slide on supply-cut skepticism:<\/strong> Oil traders yesterday continued to pour cold water on the fresh voluntary supply cuts announced by OPEC+ last week, with Brent and US crude futures both falling back during trading. Brent closed the session 1.7% lower while WTI lost 2.0% as traders expressed doubts that the measures would be enough to support prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Several members of the alliance of oil producing countries last week voluntarily <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/edition?id=dc1bc521-7e9b-4f94-96cd-5b2b41322d27&prev=false\" style=\"\" rel=\"noopener\">agreed<\/a> to remove c. 2.2 mn barrels per day from the global market in 1Q 2024, with Russia committing to an additional 500k bpd cut and Saudi Arabia rolling over its 1 mn bpd reduction into 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One corner of the markets that isn\u2019t listening:<\/strong> Crypto, where BTC and other tokens continued to soar yesterday despite a pullback in other asset classes. BTC surpassed USD 42k for the first time since April 2022, leaving it up 150% year-to-date and putting it on track for its biggest annual gain since 2020, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-03\/bitcoin-hits-40-000-level-for-the-first-time-since-may-2022?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the frenzy:<\/strong> The typical volatility in the crypto markets is being intensified by anticipation that US regulators will approve the launch of BTC exchange-traded funds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING- <\/strong><strong>Qatar wealth fund slashes Barclays stake:<\/strong> The Qatar Investment Authority is selling almost half its shares in Barclays in a move expected to raise almost USD 650 mn. The wealth fund is one of the British lender\u2019s largest shareholders with a 5.3% stake, and is planning to sell more than 360 mn shares. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-04\/qatar-fund-seeks-about-650-million-from-barclays-stake-sale?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b7638550-e1a8-4423-9d00-1656de94a3f2\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p>\n<p><a target=\"_blank\" id=\"t.dc5f6ad9be06535faeb5b38a7618f52039ee972c\" 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<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,191.39<\/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: +6.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,440.49<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -21.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">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 class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">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-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>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\">25,265<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.8% (YTD: +73.1%)<\/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>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\">9,539.08<\/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: -6.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3,987.75<\/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\">-0.1% (YTD: +19.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,562.22<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +18.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,512.96<\/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\">-0.2% (YTD: +0.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,414.95<\/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: +16.4%)<\/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>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 78.29<\/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\">-0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/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 2.68<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-4.8%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,041.40<\/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\">-2.3%<\/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>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 41,733.79<\/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% (YTD: +135.7%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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 0.3% yesterday<\/strong> on turnover of SAR 5.4 bn. The index is up 6.8% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Al Rajhi Takaful (+10%), Al Baha (+7.1%) and Gasco (+7.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Naseej (-4%), Enaya (-3.1%) and Wafrah (-2.8%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a sea of red across Asian markets this morning<\/strong>, with CNBC suggesting that investors are at something of a pause point as they take stock of mixed economic data on Asian and global economies. Futures suggest markets across Europe and North America will follow suit at the opening bell later today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CORPORATE ACTIONS-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Rajhi Takaful ups capital by 150%: <\/strong>The shareholders of Al Rajhi Cooperative Ins. Company (Al Rajhi Takaful) approved a capital increase of 150% to SAR 1 bn from SAR 400 mn, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/191.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf) to Tadawul<\/a> yesterday. The capital hike increase will be executed through the capitalization of SAR 600 mn from the retained earnings account by granting 1.50 bonus shares for each share.<\/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\/barclays\/\">Barclays<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/federal-reserve\/\">Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/qatar-investment-authority\/\">Qatar Investment 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=\"82549\" 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=\"82549\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/05\/ksa-turkey-ink-eight-trade-agreements\/\">\r\n                            KSA, Turkey sign eight agreements to expand trade and investment                        <\/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\/12\/05\/ksa-turkey-ink-eight-trade-agreements\/\" 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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Turkey aims to increase the volume of trade between the two countries to USD 10 bn in the medium-term and USD 30 bn in the long-term, Trade Minister Omar Bolat said in the statement. <\/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\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-turkey-relations\/\">Saudi-Turkey 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=\"82551\" 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\/12\/05\/82551\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82551\" class=\"content-area-description single-story post-82551 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\">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 style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 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 style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5-6 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 style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6 December (Wednesday):<\/span><span style=\"font-weight:400;\"> Book-building process for MBC institutional investors wraps up.<\/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 style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12 December (Tuesday):<\/span><span style=\"font-weight:400;\"> Announcement of the final MBC share price.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-16 December (Wednesday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.kaahcshow.com\/\" style=\"\">The 6th International Arabian Horse<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.kaahcshow.com\/\" style=\"\">Show,<\/a><\/span><span style=\"font-weight:400;\">Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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.<\/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.<\/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 style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19-21 December (Tuesday-Thursday): International Digital Signage Expo 2023, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">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.<\/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.<\/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.<\/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.<\/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.<\/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.<\/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 (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.<\/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.<\/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.<\/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.<\/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.<\/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.<\/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 (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 (national holiday)<\/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.<\/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.<\/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;\">.<\/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 (national holiday)<\/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.<\/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 (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.<\/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 2024:<\/span><\/p>\n<ul>\n<li><span>The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tinyurl.com\/38jtv854\" style=\"\">AFC Champions League Elite<\/a><\/span><span>. <\/span><\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>KSA to lead global H2 industry | Putin in Riyadh? | Red-hot PMI | NIH could be a boon for private players | Apicorp is now Arab Energy Fund.<\/p>\n","protected":false},"featured_media":82531,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-82530","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"b75f1098-4f12-43aa-85f2-edd0ddda57e3","teaser":"KSA to lead global H2 industry | Putin in Riyadh? | Red-hot PMI | NIH could be a boon for private players | Apicorp is now Arab Energy Fund.","photo_url":"https:\/\/ent.news\/2024\/1\/2079.jpeg"},"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>Saudi isn\u2019t going to play along with a blanket phase-out of oil, gas \u2013Energy Minister - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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