{"id":82617,"date":"2023-12-07T00:00:00","date_gmt":"2023-12-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=82617"},"modified":"2025-12-14T17:10:24","modified_gmt":"2025-12-14T17:10:24","slug":"next-years-state-budget-sees-growth-uptick-with-more-govt-spending","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/next-years-state-budget-sees-growth-uptick-with-more-govt-spending\/","title":{"rendered":"Next year\u2019s state budget sees growth uptick with more gov\u2019t spending"},"content":{"rendered":"<section id=\"82619\" 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=\"82619\">\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\/07\/finmin-unveils-2024-state-budget-no-word-yet-on-mbcs-tadawul-ipo-pricing\/\">\r\n                            FinMin unveils 2024 state budget + No word yet on MBC\u2019s Tadawul IPO pricing                        <\/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\/07\/finmin-unveils-2024-state-budget-no-word-yet-on-mbcs-tadawul-ipo-pricing\/\" 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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We hope you\u2019re looking forward to the weekend as much as we are. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IT\u2019S A BIG MORNING FOR: Diplomacy<\/strong>, after Russian President Vladimir Putin\u2019s whistlestop tour of the Middle East, which included a visit to Riyadh for a meeting with Crown Prince and Prime Minister Mohammed bin Salman. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND FOR THE ECONOMY as the Finance Ministry unveiled the 2024 state budget. <\/strong>FinMin is penciling in 4.4% GDP growth with stable spending levels and no meaningful change in the deficit, Finance Minister Mohamed Al Jadaan said at a press conference yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG QUESTION of the coming week: Will countries meeting for COP28 agree to a <\/strong><strong>phase-out or a phase-down of oil production? <\/strong>Saudi Arabia, Russia, and China lead the ranks of the holdouts, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/world-divided-cop28-over-whether-end-fossil-fuel-era-2023-12-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> quotes diplomats as saying. The debate comes as the US climate envoy John Kerry <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/12\/06\/climate\/kerry-cop28-phaseout-fossil-fuels.html?searchResultPosition=3\" style=\"\" rel=\"noopener\">says<\/a> the Biden administration supports \u201clargely\u201d phasing out fossil fuels, noting that there are no low- or zero-carbon alternatives today for industries including steel and cement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KSA\u2019s position is clear:<\/strong> It\u2019s not about the mix of fuels that power our future, it\u2019s about reaching zero emissions \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>Energy Minister Prince Abdulaziz bin Salman drew a line in the sand<\/strong> earlier this week when he said the Kingdom would \u201cabsolutely not\u201d sign onto a final agreement that calls for a phase-out of hydrocarbons. Any agreement at COP28 needs the unanimous support of all participating countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have the full rundown on all of this and more in this morning\u2019s news well, below. <\/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 #10 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 KSA 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\"><a id=\"wwtt1\"><\/a> <strong>#1- The Saudi Budget Forum will kick off today<\/strong>, one day after the Finance Ministry unveiled the 2024 state budget, to give room for discussions over the government\u2019s performance for the year. Look for plenty of discussion not just of public investment, but of the private sector\u2019s role in the economy. We expect the forum to stream on the <a target=\"_blank\" href=\"https:\/\/www.vision2030.gov.sa\/\" style=\"\" rel=\"noopener\">Vision 2030 website<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/@MOFKSA2011\" style=\"\" rel=\"noopener\">Finance Ministry\u2019s YouTube channel<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- There\u2019s no word this morning on where bankers will price broadcaster MBC\u2019s <\/strong><strong>Tadawul IPO<\/strong>, though <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/business\/markets\/saudi-mbc-group-can-justify-its-premium-ipo-price-range-of-sr23-sr25-1.1701844128325\" style=\"\" rel=\"noopener\">expectations<\/a> are that it will be at the top of the SAR 23-25 range on which they guided in the <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=f98fbc17be&e=cbdf61e8dd\" style=\"\" rel=\"noopener\">price range announcement (pdf)<\/a>. Bookbuilding for the sale \u2014 which was fully covered in the first hour bankers started taking orders last week \u2014 wrapped up yesterday. Some 90% of the offering is earmarked for institutions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bankers will price the offering by 12 December<\/strong>, and individual investors can place orders between 14 and 18 December, according to the <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=be41cfefe9&e=cbdf61e8dd\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- COP28, Day 8: <\/strong>It\u2019s a relatively quiet day in COP Land today. There\u2019s a panel organized by Fertiglobe that will discuss how to promote the use of sustainable marine fuels and there are discussions elsewhere on food waste and textile circularity. There\u2019s also a \u2018mindful origami\u2019 workshop, for those inclined. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#4- Residents of GCC countries can come to KSA on e-visas<\/strong> after Crown Prince Mohammed bin Salman signed off on the measure yesterday. The tourism e-visas will be valid for one year and allow multiple entries with stays of up to 90 days. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PSA-<\/strong><strong> Mixed weather today. Riyadh<\/strong> will enjoy clear skies with a high of 26\u00b0C, while <strong>Dammam<\/strong>will see a high of 27\u00b0C. <strong>Jeddah <\/strong>will have seasonally warm weather with the mercury peaking at 32\u00b0C, while folks in <strong>Madinah<\/strong> can expect fog this morning, prompting the National Center for Meteorology to issue a yellow warning for the province. <\/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\"><strong>E-visa for Fifa Club World Cup ticket holders: <\/strong>The Foreign Affairs Ministry said <a target=\"_blank\" href=\"https:\/\/www.fifa.com\/tournaments\/mens\/clubworldcup\" style=\"\" rel=\"noopener\">Fifa Club<\/a><a target=\"_blank\" href=\"https:\/\/www.fifa.com\/tournaments\/mens\/clubworldcup\" style=\"\" rel=\"noopener\">World Cup<\/a> ticket holders can apply for e-visas regardless of their country of origin, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2009629\" style=\"\" rel=\"noopener\">SPA<\/a> reported yesterday. That\u2019s great news for football fans looking to attend the tourney in Jennday: It kicks off on Thursday, 12 December and runs through Friday, 22 December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Exciting matches: <\/strong>The tournament, which Saudi Arabia is hosting for the first time, will see Al Ittihad (aka the Tigers), England\u2019s Manchester City, Egypt\u2019s Al Ahly, Brazil\u2019s Fluminense, New Zealand\u2019s Auckland City, Japan\u2019s Urawa Red Diamonds and Mexico\u2019s Leon in competition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In other visa news- <\/strong>Saudi Arabia and Malta will each exempt private and diplomatic passport holders from short-stay visa requirements, according to <a target=\"_blank\" href=\"https:\/\/www.saudigazette.com.sa\/article\/638442\/SAUDI-ARABIA\/Saudi-Arabia-Malta-sign-an-agreement-on-mutual-exemption-from-short-stay-visa-requirements\" style=\"\" rel=\"noopener\">Saudi Gazette<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINTS-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- The economy created 13k new jobs in November<\/strong>, the National Labor Observatory said <a target=\"_blank\" href=\"https:\/\/x.com\/NLO_sa\/status\/1732001676695888000?s=20\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/x.com\/NLO_sa\/status\/1732001676695888000?s=20\" style=\"\" rel=\"noopener\">on X<\/a>. That\u2019s a slower pace than the 17.8k jobs <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2403751\/business-economy\" style=\"\" rel=\"noopener\">recorded in October<\/a>. Some 2.3 mn Saudi citizens participate in the private-sector workforce, good for a 21% share of all jobs. More than 41k citizens joined the private-sector workforce last month, a slightly lower rate of new joiners compared to 49.3k in October. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3<\/strong><strong>- Saudi startups topped the MNEA <\/strong><strong>fundraising league table in November: <\/strong>Startups in the Kingdom raised USD 338 mn in nine transactions, accounting for more than 40% of the nearly USD 764 mn raised across the Middle East and North Africa, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2023\/12\/startups-mena-raised-764-million-november-2023-highest-recorded-year\" style=\"\" rel=\"noopener\">report from Wamda and Digital<\/a><a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2023\/12\/startups-mena-raised-764-million-november-2023-highest-recorded-year\" style=\"\" rel=\"noopener\">Digest<\/a>. Startups in the UAE placed second with USD 284 raised in 22 transactions, while Egyptian firms raised USD 130 mn in five rounds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tamara, Tabby were kings: <\/strong>Mega-rounds are back, suggests the report, which considers both equity and debt raises. Among the standouts: a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/ar\/2023\/11\/tamara-secures-additional-debt-financing-250-million\" style=\"\" rel=\"noopener\">USD 250 mn debt round<\/a> raised by Saudi buy now, pay later firm Tamara and a <a target=\"_blank\" href=\"https:\/\/techcrunch.com\/2023\/10\/31\/buy-now-pay-later-platform-tabby-nabs-200m-in-series-d-funding-at-1-5b-valuation\/\" style=\"\" rel=\"noopener\">USD 200 mn series D funding<\/a> by Riyadh-based BNPL firm Tabby. Egypt\u2019s MNT-Halan, meanwhile, raised USD 130 mn with a securitized bond.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#2- <\/strong><strong>The PIF invested USD 6 bn in gaming in 9M 2023<\/strong>\u2014 that\u2019s about 56% more than what it had committed to the sector in the previous 24 months, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/54fp4kkr\" style=\"\" rel=\"noopener\">Al Eqtisadiyah<\/a> reports. As we noted earlier in the week, officials at PIF appear to see video games as a presently-distressed asset class with plenty of room to grow when the industry shakeup draws to a close. <\/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>THE BIG STORY ABROAD-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s another morning on which no single story dominates the global business headlines<\/strong>, but there are a handful of things you need to know:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Google has unveiled <\/strong><strong><a target=\"_blank\" href=\"https:\/\/deepmind.google\/technologies\/gemini\/#introduction\" style=\"\" rel=\"noopener\">Gemini<\/a><\/strong><strong>, its \u201cmost capable\u201d AI model to date<\/strong>, which it claims processes more sophisticated reasoning and understanding of information. Google\u2019s chatbot Bard will use Gemini starting some time early in 2024 to help the chatbot with advanced reasoning, planning, and understanding. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/alphabet-unveils-long-awaited-gemini-ai-model-2023-12-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/12\/06\/google-launches-its-largest-and-most-capable-ai-model-gemini.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/12\/06\/technology\/google-ai-bard-chatbot-gemini.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2023\/12\/06\/tech\/google-launches-gemini-compete-with-chatgpt\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO worth knowing:<\/strong><\/p>\n<ul>\n<li><strong>Italy has pulled out <\/strong>of China\u2019s Belt and Road initiative, winding down a relationship that has \u201c <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/946636dc-2fa1-4b2b-a83b-84478f804a83\" style=\"\" rel=\"noopener\">irritated Rome\u2019s western allies<\/a>.\u201d<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0f22aac6-2907-420a-abaf-6b85da5f40bf\" style=\"\" rel=\"noopener\">COP\u2019s love-hate relationship with business<\/a><\/strong><strong>: <\/strong>\u201cThe ballooning presence of executives at UN climate talks has prompted a rethink about their role.\u201d<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/mckinsey-cuts-new-partner-class-by-roughly-35-8ed19c78?mod=hp_lead_pos3\" style=\"\" rel=\"noopener\">McKinsey shrinks new partner class by roughly 35%<\/a><\/strong><strong>:<\/strong> c. 250 people will become partners, down from around 380 a year ago.<\/li>\n<\/ul>\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>Chinese piano wizard <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.langlangofficial.com\/\" style=\"\" rel=\"noopener\">Lang Lang<\/a><\/strong>will perform today at King Abdulaziz Center for World Culture (Ithra) in Dhahran.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Calling all gearheads, The Riyadh Motor Show kicked off yesterday<\/strong> and will continue until Saturday at Riyadh\u2019s Kingdom Arena. <\/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:\/\/results.saudigames.sa\/#\/schedule\/calendar\" style=\"\" rel=\"noopener\">2024 Saudi Games<\/a><\/strong><strong> continue today:<\/strong><\/p>\n<ul>\n<li><strong>Today\u2019s finals:<\/strong> basketball and mixed martial arts. <\/li>\n<li><strong>Also today:<\/strong> beach volleyball, chess, futsal for the hearing impaired, handball, padel, sailing, table tennis and tennis.<\/li>\n<\/ul>\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:\/\/redseafilmfest.com\/en\/\" style=\"\" rel=\"noopener\">Red Sea Film Festival<\/a><\/strong><strong> 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.fifa.com\/fifaplus\/en\/tournaments\/mens\/fifa-club-world-cup\/saudi-arabia-2023?cid=(p_go-sea)(c_fcwc)(sc_ticketing)(ssc_fcwc-2023)(l_en)(co_EG)&s_cid=(co_EG)(cc__)&c=(c_fcwc)(sc_ticketing)(ssc_fcwc-2023)(l_en)(co_EG)(p_go-sea)(t_search)(kt_brand)&pid=(p_go-sea)(ch__)(t_search)&gad_source=1&gclid=CjwKCAiA1MCrBhAoEiwAC2d64XBCaGJjMFXX-IjIN-CYFehDVtb_gt-iCgXfZRfXyrX8pL-O7f1gEhoCC-IQAvD_BwE&gclsrc=aw.ds\" style=\"\" rel=\"noopener\">FIFA Club World Cup<\/a><\/strong><strong>will kick off for the first time in the kingdom<\/strong><strong> on Tuesday, 12 December until Friday, 22 December in Jeddah. You can buy your tickets <\/strong><strong><a target=\"_blank\" href=\"https:\/\/fifaclubwc2023.com\/tickets\" style=\"\" rel=\"noopener\">here<\/a><\/strong><strong>.<\/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:\/\/www.fintech-tour.com\/\" style=\"\" rel=\"noopener\">Fintech Tour<\/a><\/strong><strong> will continue until Wednesday, 13 December.<\/strong> The fintech-focused gathering includes more than 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 kicks off on Wednesday, 13 December <\/strong>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 eight days 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>Riyadh will host the<\/strong><strong><a target=\"_blank\" href=\"https:\/\/webook.com\/en-US\/events\/galatasaray-vs-fenerbahce\" style=\"\" rel=\"noopener\">Turkish Super Cup final<\/a><\/strong><strong>between Galatasaray and Fenerbah\u00e7e <\/strong>on Friday, 29 December at Alawwal Park Stadium as part of the <a target=\"_blank\" href=\"https:\/\/riyadhseason.com\/en-US\" style=\"\" rel=\"noopener\">Riyadh Season<\/a>. <\/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 <a target=\"_blank\" href=\"https:\/\/tickets.saudiarabiangp.com\/en\" style=\"\" rel=\"noopener\">tickets 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\/cop28\/\">COP28<\/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                            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<\/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\/07\/mega-projects-non-oil-private-sector-growth-are-hallmarks-of-2024-state-budget\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/473.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82621\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/07\/mega-projects-non-oil-private-sector-growth-are-hallmarks-of-2024-state-budget\/473-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/473.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"473.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/473.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/473.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82620\" class=\"content-area-description single-story post-82620 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-debt tag-economy tag-enterpriseam-ksa tag-finance-ministry tag-gdp tag-mohamed-al-jadaan tag-state-budget 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\/.c91cd7b7-bfd6-4e56-a57f-62e43cc25c91.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The economy is set to grow again in 2024: <\/strong>The Finance Ministry is targeting GDP growth of 4.4% in its budget for the next fiscal year, Finance Minister Mohamed Al Jadaan said yesterday as he unveiled the government\u2019s 2024 spending plans. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s welcome news after oil cuts see GDP set to contract by c. 0.5% y-o-y this fiscal <\/strong><strong>year <\/strong>after growing 8.7% in 2022. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The biggest earmarks in the budget: <\/strong>The <strong>military<\/strong> (SAR 269 bn), <strong>healthcare<\/strong> (SAR 214 bn), <strong>education<\/strong> (SAR 195 bn), and <strong>public security<\/strong> (SAR 112 bn). Al Jadaan noted that Vision 2030 has a target of localizing over 50% of the Kingdom\u2019s military equipment spending by 2030, adding that this also aims at boosting the country's regional deterrence power. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Restructuring the social safety net: <\/strong>Spending on subsidies is forecast to increase to SAR 38 bn in FY2024, up from an estimated SAR 20 bn in the current fiscal year. In parallel, the Finance Ministry has slashed its earmark for social benefits, cutting it by SAR 35 bn to SAR 62 bn for 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total spending will rise to c. 29% of GDP next year<\/strong>, a move that Riyad Bank chief economist Naif Alghaith said will \u201c<strong>really gives a push to the economy<\/strong>.\u201d The ministry has penciled in spending of SAR 1.25 tn in FY 2024, up a bit from the previous year. Revenues will dip slightly to SAR 1.17 tn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>They key takeaway: <\/strong>\u201cWe intentionally decided to spend more and cause the deficit. If you spend that money right, on productive assets, then it\u2019s money well spent,\u201d Al Jaadan said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The <strong>\u201ccost of budget deficit is much lower than the expected return on investment,\u201d <\/strong>Al Jadaan said in an address broadcast on the ministry\u2019s YouTube channel. Continued investment in mega-projects to shore up the non-oil economy, encouraging the private sector, and improving public services are all hallmarks of the Kingdom\u2019s spending plan, the minister said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expect more deficits in the medium term as gov\u2019t prioritizes growth, economic <\/strong><strong>diversification:<\/strong> The ministry is targeting a <strong>deficit <\/strong>of SAR 79 bn (1.9% of GDP) in the next fiscal year \u2014 and is signaling it will continue ot run deficits to support the \u201cgovernment's strategic expansionary spending,\u201d according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/453.pdf\" style=\"\" rel=\"noopener\">budget statement (pdf)<\/a>. This is SAR 3 bn less than the SAR 82 bn (2% of GDP) estimated for the current fiscal year. The country\u2019s <strong>debt <\/strong>is forecasted to rise to SAR 1.1 tn in FY 2024 (25.9% of GDP), up from an estimated SAR 1 tn (25.8% of GDP) in FY2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The deficit in context:<\/strong> Saudi Arabia had a budget surplus of 2.5% in FY 2022, but slipped into a modest deficit this year as it cut oil production. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The culprit?<\/strong> Voluntary oil cuts of 1 mn bpd from July until the end of the year, according to the World Bank\u2019s latest <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=c880663c75&e=8e5fca127e\" style=\"\" rel=\"noopener\">Gulf Economic Update (pdf)<\/a>, out last week. The multilateral lender sees an 8.4% y-o-y contraction in oil activity in 2023 \u2014 the sector grew 15.5% in 2022. On the flipside, <strong>the non-oil economy will grow at a 4.3% y-o-y clip this year<\/strong> on the back of \u201clooser fiscal policy, robust private consumption, and public investment drive,\u201d cushioning the anticipated downturn, the World Bank writes. The ministry is penciling in a more optimistic growth of 5.9% for non-oil activity in 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil would need to be at about USD 110 for the budget to balance <\/strong>by the time you include all state spending, including by the Public Investment Fund and other agencies, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-06\/saudi-revenues-surprise-by-topping-expectations-despite-oil-cuts?srnd=premium-middle-east&sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg Economics<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Analysts across the board are happy with the budget<\/strong>, noting the medium-term emphasis on deficits indicates confidence in the state\u2019s ability to secure funding \u2014 and welcoming the ongoing emphasis on investment in megaprojects.<\/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\/debt\/\">debt<\/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\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mohamed-al-jadaan\/\">Mohamed Al Jadaan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/state-budget\/\">state budget<\/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=\"82622\" 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=\"82622\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/07\/on-whistlestop-tour-putin-looks-to-shore-up-ties-with-saudi-arabia-uae\/\">\r\n                            On whistlestop tour, Putin looks to shore up ties with Saudi Arabia, UAE                        <\/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\/07\/on-whistlestop-tour-putin-looks-to-shore-up-ties-with-saudi-arabia-uae\/\" 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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Putin also touched down in the UAE for talks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Broad-based cooperation: <\/strong>\u201cWe share many interests and many files that we are working on together for the benefit of Russia, the Kingdom of Saudi Arabia, the Middle East and the world as well,\u201d Prince Mohammed said, according to state-run Saudi Press Agency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Partners on regional stability:<\/strong> The Kingdom and Russia are working together to stabilize the region, Prince Mohammed said, according to <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/refph7tm\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>, adding that Saudi and Russia were working closely together on oil, trade and investment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>N<\/strong><strong>o public mention of oil: <\/strong>Neither leader spoke publicly about further oil production cuts, but <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/putin-talk-oil-uae-saudi-meet-crown-prince-mohammed-bin-salman-2023-12-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> quotes an unnamed Kremlin source as saying the two leaders did discuss continued \u201ccooperation on oil prices\u201d through OPEC+. The Kingdom has slashed production, while Russia has only ramped down exports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But there could be more cuts: <\/strong>\u201cIn case the current actions are not enough, OPEC+ countries will take additional steps to avoid speculations and volatility,\u201d Russia\u2019s deputy prime minister <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-05\/russia-says-opec-cuts-could-go-further-in-echo-of-saudi-stance?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">said<\/a> yesterday in remarks seen as a sign Russia is warming to further cuts, closing the gap with Saudi Arabia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Next time in Moscow? <\/strong>Putin has invited Prince Mohamed to Moscow. There\u2019s no indication whether the crown prince accepted the offer. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The visit dominates coverage of Saudi Arabia in the global press: <\/strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e2c1b3d8-4626-49fd-bcdc-5596856e9cbb\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/russia\/putin-meets-with-saudi-u-a-e-rulers-in-bid-to-refresh-alliances-df321626?mod=Searchresults_pos2&page=1\" style=\"\" rel=\"noopener\">Wall<\/a><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/russia\/putin-meets-with-saudi-u-a-e-rulers-in-bid-to-refresh-alliances-df321626?mod=Searchresults_pos2&page=1\" style=\"\" rel=\"noopener\">Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/12\/06\/world\/europe\/putin-saudi-arabia-visit.html?searchResultPosition=4\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-06\/putin-meets-uae-ruler-on-rare-trip-to-shore-up-gulf-oil-ties?srnd=premium-middle-east&sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The broad theme: Putin is looking to \u201cshore up\u201d ties with Saudi and the UAE at the same time as Gulf countries are looking to diversify relations with other major global powers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The kingdom is pressing the US to exercise restraint in responding to attacks <\/strong><strong>launched by Yemen\u2019s Houthis<\/strong> against ships in the Red Sea, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/edge-over-red-sea-attacks-riyadh-seeks-contain-fall-out-2023-12-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported, citing two sources in the know. They said the kingdom\u2019s move aims to avoid a further escalation in the region, adding that it was pleased with the way Washington was handling the crisis.<\/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\/diplmacy\/\">diplmacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-russia-relations\/\">Saudi-Russia relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/vladimir-putin\/\">Vladimir Putin<\/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=\"82624\" 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=\"82624\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">SHIPPING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/07\/sisco-unit-rsgt-inks-usd-170-mn-concession-agreement-for-patenga-container-terminal\/\">\r\n                            Sisco unit RSGT inks USD 170 mn concession agreement for Patenga Container Terminal                        <\/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\/07\/sisco-unit-rsgt-inks-usd-170-mn-concession-agreement-for-patenga-container-terminal\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The agreement was inked in partnership with the PIF, under a government-to-government framework between the kingdom and Bangladesh.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> RSGT will develop a comprehensive long-term plan for the terminal that includes developing and operating a 500k TEU facility and equipping a 580-meter quay with new tech, the statement said. The company will pour some USD 170 mn (SAR 636.7 mn) into the developments at the terminal, funded through debt and equity, it added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RSGT is looking to expand globally <\/strong>in the port sector, it said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bangladesh\u2019s first foreign operator:<\/strong> RSGT will be the <a target=\"_blank\" href=\"https:\/\/logistics.enterprise.news\/news\/story?storyId=464af28f-fba9-4e72-9b0e-2f942933b2b2\" style=\"\" rel=\"noopener\">first foreign company to operate a port<\/a><a target=\"_blank\" href=\"https:\/\/logistics.enterprise.news\/news\/story?storyId=464af28f-fba9-4e72-9b0e-2f942933b2b2\" style=\"\" rel=\"noopener\">in Bangladesh<\/a> as the South Asian country looks to boost foreign investments into the country. The container terminal was completed last year and was initially set to be operated by the Chittagong Port Authority, 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, and serves some 90% of Bangladesh\u2019s import and export activities, according to the release.<\/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\/port\/\">Port<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/shipping\/\">SHIPPING<\/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=\"82626\" 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=\"82626\">\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\">GREEN HYDROGEN<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/07\/acwa-power-partners-up-with-indonesias-pln-for-green-hydrogen-production\/\">\r\n                            Acwa Power partners up with Indonesia\u2019s PLN for green hydrogen production                        <\/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\/07\/acwa-power-partners-up-with-indonesias-pln-for-green-hydrogen-production\/\" 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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Commercial operations for GH2 will begin in 2026. PLN is targeting a <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=0f893fd1-8f8a-4be6-b90c-c3599c8f3dbb\" style=\"\" rel=\"noopener\">31.6 GW renewable power capacity<\/a> expansion between 2024 and 2033, and has launched a <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=4d975cac-67dd-41be-89ca-fc5dfca22287\" style=\"\" rel=\"noopener\">USD 20 bn green investment strategy<\/a> two weeks ago.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the first PLN-Acwa Power partnership:<\/strong> Acwa partnered with the state-owned company last year to develop a <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=61525d65-123b-493b-b8d6-ed7866b82314\" style=\"\" rel=\"noopener\">4 GW battery storage facility<\/a> and a hydroelectric-powered green hydrogen production facility. PLN also tapped Acwa to develop two floating solar PV solar projects worth USD 105 mn <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=2db16a38-c2c8-45c6-a3c3-74e5bfba9d9c\" style=\"\" rel=\"noopener\">last year<\/a>. Indonesia\u2019s President Joko Widodo concluded a state visit where he discussed increasing bilateral cooperation in the renewable energy sector with KSA\u2019s Crown Prince Mohammed bin Salman<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa Power is not the only regional player eying Indonesia\u2019s green sector:<\/strong> PLN partnered with Masdar on its <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=7b5f2290-bd7e-4c67-adec-35d5b28f598d\" style=\"\" rel=\"noopener\">145 MW Cirata floating solar plant<\/a> with plans to add up to <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=48d8b583-0313-4a09-9f1c-7a8786be6a6c\" style=\"\" rel=\"noopener\">500 MW<\/a> capacity to the project. In February, Masdar <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=c0e6a33d-90d1-43dd-93ef-aa4e29a5d598\" style=\"\" rel=\"noopener\">acquired shares<\/a> in the geothermal unit of Indonesian government-owned geothermal utility Pertamina.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ACWA ALSO CHASING BUSINESS IN KUWAIT-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A joint bid by Acwa and Kuwait-based Gulf Investment Corporation was shortlisted<\/strong> by the Kuwait Authority for Partnership Projects (KAPP) to build key independent water and power projects, <a target=\"_blank\" href=\"https:\/\/www.tradearabia.com\/news\/CONS_416452.html\" style=\"\" rel=\"noopener\">TradeArabia<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The competition: <\/strong>Groups led by Saudi\u2019s Abdul Aziz Al Ajlan Sons and Company, Abu Dhabi\u2019s Taqa, and China Power International Holding. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the projects: <\/strong>Az-Zour North IWPP will have a net capacity of 2.7 GW of power and 120 MIGD of desalinated water, while the Al Khairan IWPP will have a net capacity of at least 1.8 GW and 33 MIGD of desalinated water. Both plants will operate with a mix of liquified natural gas and high-pressure natural gas with gas as a backup fuel.<\/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\/desalination\/\">Desalination<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/green-hydrogen\/\">Green hydrogen<\/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=\"82628\" 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=\"82628\">\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\">AUTOMOTIVE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/07\/competition-watchdog-has-car-distributors-poultry-pharma-on-its-radar\/\">\r\n                            Saudi Arabia\u2019s competition watchdog has car distributors, poultry + pharma on its radar                        <\/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\/07\/competition-watchdog-has-car-distributors-poultry-pharma-on-its-radar\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The competition watchdog has not publicly named the companies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>At issue: <\/strong>Car prices in Saudi are significantly higher than in other Gulf markets, GAC Governor Abdulaziz Alzoom told Rotana Khalijia on Tuesday (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=SSwEb68QyfY\" style=\"\" rel=\"noopener\">watch, runtime: 6:55<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Car shoppers have been complaining about imported cars, noting that they have fewer features compared to counterparts in other parts of the world, but have higher sticker prices. Consumers have pointed fingers at distributors and dealerships, where some accused the distributors of \u201cstripping some of the car parts to resell them,\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ke_dt0VzLws&t=312s\" style=\"\" rel=\"noopener\">watch, runtime: 10:50<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among the allegations:<\/strong><\/p>\n<ul>\n<li><strong>Distributors were coercing dealers to purchase less-desirable cars to gain access to the more sought-after models.<\/strong> That forced some dealers to cover higher inventory costs and losses on the less-desirable models by jacking up the prices on cars consumers really want to buy;<\/li>\n<li><strong>Distributors were forcing independent showrooms to stick to fixed pricing<\/strong>, undercutting competition in the market.<\/li>\n<li><strong>Distributors forcing three-year warranties<\/strong> that add to the cost of a new car \u2014 and that are squeezing the market for independent service centers. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ELSEWHERE- <\/strong>GAC has also cracked down on unfair practices by bidders in government tenders. It\u2019s setting up systems with the ministries of commerce and finance to tighten systems and ward off issues, Alzoom added (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=IeiGpMvEu6A\" style=\"\" rel=\"noopener\">watch, runtime: 1:49<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GAC alleges that some <\/strong>foreign investors have used multiple front companies to rig bids, creating the perception of high competing bids to make their actual offer stand out when seeking government contracts. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In poultry + pharma:<\/strong> GAC is also investigating the poultry and pharma sectors for what it thinks may be violations of the fair competition act. Some players, it alleges, are colluding to hike prices (watch <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=8kGgKx401BQ\" style=\"\" rel=\"noopener\">here<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=13YYlYQSYVw\" style=\"\" rel=\"noopener\">here<\/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\/abdulaziz-al-zoom\/\">Abdulaziz Al Zoom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/general-authority-for-competition\/\">General Authority for Competition<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/imported-cars\/\">Imported cars<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/poultry\/\">Poultry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tenders\/\">Tenders<\/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=\"82630\" 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=\"82630\">\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\">NEWS ANALYSIS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/07\/team-ksa-reiterates-that-the-green-transition-is-more-about-zero-emissions-than-the-fuel-mix\/\">\r\n                            Team KSA reiterates that the green transition is more about zero emissions than the fuel mix                        <\/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\/07\/team-ksa-reiterates-that-the-green-transition-is-more-about-zero-emissions-than-the-fuel-mix\/\" 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\/07\/team-ksa-reiterates-that-the-green-transition-is-more-about-zero-emissions-than-the-fuel-mix\/')\">\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\/07\/team-ksa-reiterates-that-the-green-transition-is-more-about-zero-emissions-than-the-fuel-mix\/\">\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=Team KSA reiterates that the green transition is more about zero emissions than the fuel mix&url=https:\/\/enterpriseam.com\/ksa\/2023\/12\/07\/team-ksa-reiterates-that-the-green-transition-is-more-about-zero-emissions-than-the-fuel-mix\/\">\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\/07\/team-ksa-reiterates-that-the-green-transition-is-more-about-zero-emissions-than-the-fuel-mix\/&title=Team KSA reiterates that the green transition is more about zero emissions than the fuel mix\">\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=Team+KSA+reiterates+that+the+green+transition+is+more+about+zero+emissions+than+the+fuel+mix+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F12%2F07%2Fteam-ksa-reiterates-that-the-green-transition-is-more-about-zero-emissions-than-the-fuel-mix%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\/07\/team-ksa-reiterates-that-the-green-transition-is-more-about-zero-emissions-than-the-fuel-mix\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/485.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82631\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/07\/team-ksa-reiterates-that-the-green-transition-is-more-about-zero-emissions-than-the-fuel-mix\/485-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/485.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"485.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/485.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/485.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82630\" class=\"content-area-description single-story post-82630 post type-post status-publish format-standard has-post-thumbnail hentry category-news-analysis tag-adel-al-jubeir tag-cop28 tag-enterpriseam-ksa tag-news-analysis tag-prince-abdulaziz-bin-salman tag-saudi-green-initiative 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\/.ff5773fc-2f41-4df6-a57a-8a6ab81e2ba3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi Arabia is in the spotlight for a blanket refusal earlier this week to agree to <\/strong><strong>phase-out hydrocarbons<\/strong>, positioning us as a potential spoiler in the final week of COP28. But the Kingdom\u2019s policy was (and remains) consistent: Proceeds from the sale of oil and gas aren\u2019t just key to Saudi\u2019s drive to build a diverse, non-oil economy \u2014 hydrocarbons are critical to economic development around the world. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201c<\/strong><strong>Fossil fuels will be with us for many, many decades to come,\u201d <\/strong>Saudi climate envoy Adel Al Jubeir told <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2420776\/saudi-arabia\" style=\"\" rel=\"noopener\">Arab News<\/a> in an interview on Tuesday, reiterating the government\u2019s belief that \u201cit is inconceivable to have economic development without having energy at reasonable prices \u2014 and fossil fuels provide that, oil and gas in particular.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That doesn't mean KSA isn\u2019t investing heavily in everything green: <\/strong>Saudi Arabia has strategically directed investments totaling USD 186 bn into more than 80 projects and counting, Al Jubeir said, emphasizing the Kingdom\u2019s core position: The fight against global warming isn\u2019t about hydrocarbons in the fuel mix \u2014 it\u2019s about reaching net zero, full stop.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Walking the talk:<\/strong> The Kingdom and the COP28 Presidency jointly launched a landmark Oil and Gas Decarbonization Charter (OGCD) in a bid to cut operational emissions from the sector by 2050, according to a <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=39876ae29e&e=8e5fca127e\" style=\"\" rel=\"noopener\">statement by COP28<\/a> earlier this week. Aramco is one of the headline backers of the agreement. <strong>We have the details <\/strong><strong>here<\/strong><strong>. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Policymakers are all singing from the same hymn sheet:<\/strong> \u201cThe countries that call for a reduction in production of oil and gas, they should start with themselves\u2026 I haven\u2019t seen any of those countries come up with a timeline for reducing their own production of oil and gas, much less coal, which is a much, much worse polluter,\u201d Al Jubeir said. Energy Minister Prince Abdulaziz bin Salman echoed similar statements this week as he stressed opposition to a full fossil fuel phase out. \u201cI\u2019m not naming names. But those countries who really believe in phasing out and phasing down hydrocarbons, you should come out and put together a plan for how to start the first of January 2024,\" he told <a target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/www.bloomberg.com\/news\/articles\/2023-12-04\/cop28-saudi-energy-minister-says-won-t-agree-to-fossil-fuel-phase-down?leadSource%3Duverify%2520wall&sa=D&source=editors&ust=1706408376622913&usg=AOvVaw2S2E3UqWVH0lo8dVu1aXA4\" style=\"\" rel=\"noopener\">Bloomberg TV<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some of the smallest oil producing nations including Denmark, Spain and France have <\/strong><strong>made plans to stop drilling<\/strong>, according to data seen by <a target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/www.reuters.com\/sustainability\/worlds-major-oil-producers-spurn-fossil-fuel-phase-out-net-zero-push-research-2023-12-05\/&sa=D&source=editors&ust=1706408376623434&usg=AOvVaw1VgSyuYm9d9XsgjCXQHZQJ\" style=\"\" rel=\"noopener\">Reuters<\/a> \u2014 easy when you don\u2019t make the list of top 30 global oil producers and have already built up the same renewable and nuclear energy industries that other countries are now scrambling to create. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to go deeper on everything happening at COP28? <\/strong><a target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/press.us9.list-manage.com\/track\/click?u%3D3f7bc576715ca1a70edef2788%26id%3D2c0dcec382%26e%3D8e5fca127e&sa=D&source=editors&ust=1706408376623823&usg=AOvVaw0nK7NI4RJZR_dLKRK9YGea\" style=\"\" rel=\"noopener\">Enterprise Climate has got your<\/a><a target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/press.us9.list-manage.com\/track\/click?u%3D3f7bc576715ca1a70edef2788%26id%3Dcda97ba5e2%26e%3D8e5fca127e&sa=D&source=editors&ust=1706408376624022&usg=AOvVaw3FQZCuV-ibjZcS7UIHCIIW\" style=\"\" rel=\"noopener\">back<\/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\/adel-al-jubeir\/\">Adel Al Jubeir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/news-analysis\/\">NEWS ANALYSIS<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-green-initiative\/\">Saudi Green Initiative<\/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=\"82632\" 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 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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\/15542.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/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=\"82633\" 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=\"82633\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/07\/all-putin-all-the-time\/\">\r\n                            All Putin, all the time                        <\/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 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href=\"https:\/\/api.whatsapp.com\/send?text=All+Putin%2C+all+the+time+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F12%2F07%2Fall-putin-all-the-time%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\/07\/all-putin-all-the-time\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82633\" class=\"content-area-description single-story post-82633 post type-post status-publish format-standard hentry category-saudi-in-the-news tag-enterpriseam-ksa tag-mohammed-bin-salman tag-opec tag-saudi-in-the-news tag-vladimir-putin 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\/.06c818b5-0aaf-4b63-ba67-5050c63df755.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Russian leader Vladimir Putin\u2019s visit to town as part of a rare (and short) Gulf trip <\/strong><strong>dominates coverage of the Kingdom in the foreign press<\/strong><strong> this morning.<\/strong> His talks with Crown Prince Mohammed bin Salman are getting ink from <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/putin-talk-oil-uae-saudi-meet-crown-prince-mohammed-bin-salman-2023-12-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/live\/2023\/dec\/06\/russia-ukraine-war-live-zelenskiy-to-join-g7-leaders-video-summit-amid-us-aid-row\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/world-europe-67636648\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ndtv.com\/world-news\/putin-visits-saudi-arabia-uae-on-middle-east-tour-in-rare-abroad-visit-4640628\" style=\"\" rel=\"noopener\">AFP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e2c1b3d8-4626-49fd-bcdc-5596856e9cbb\" style=\"\" rel=\"noopener\">The Financial Times<\/a> and others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also: <\/strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a3043499-d173-4583-bbf0-289510bcb654\" style=\"\" rel=\"noopener\">The FT is late<\/a> to the launch of the CSOP Saudi Arabia ETF, the first Saudi exchange-traded fund to start trading in Asia, as we noted last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong><a target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/news\/saudi-arabia-may-wage-oil-053232252.html\" style=\"\" rel=\"noopener\">Business Insider<\/a> wonders whether the US and Saudi will wind up in a <strong>market-share war<\/strong>if rising US production prompts us to scrap oil cuts | Travel industry bible <a target=\"_blank\" href=\"https:\/\/skift.com\/2023\/12\/06\/will-smith-in-saudi-arabia-actor-shows-off-neom-to-60-million-followers\/\" style=\"\" rel=\"noopener\">Skift<\/a> notes that <strong>Will Smith is showing off Neom<\/strong> to his 60 mn followers <\/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\/mohammed-bin-salman\/\">Mohammed bin Salman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/opec\/\">OPEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/vladimir-putin\/\">Vladimir Putin<\/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=\"82634\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82635\" 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=\"82635\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/07\/extra-launching-electronics-section-at-panda-saudi-enaya-rebuffs-uca-merger-offer-plus-updates-from-jazadco-musafir-saudi-space-agency\/\">\r\n                            eXtra launching electronics section at Panda + Saudi Enaya rebuffs UCA merger offer. Plus: Updates from Jazadco, Musafir, Saudi Space Agency                        <\/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\/07\/extra-launching-electronics-section-at-panda-saudi-enaya-rebuffs-uca-merger-offer-plus-updates-from-jazadco-musafir-saudi-space-agency\/\" 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\/07\/extra-launching-electronics-section-at-panda-saudi-enaya-rebuffs-uca-merger-offer-plus-updates-from-jazadco-musafir-saudi-space-agency\/')\">\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\/07\/extra-launching-electronics-section-at-panda-saudi-enaya-rebuffs-uca-merger-offer-plus-updates-from-jazadco-musafir-saudi-space-agency\/\">\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=eXtra launching electronics section at Panda + Saudi Enaya rebuffs UCA merger offer. 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Plus: Updates from Jazadco, Musafir, Saudi Space Agency\">\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=eXtra+launching+electronics+section+at+Panda+%2B+Saudi+Enaya+rebuffs+UCA+merger+offer.+Plus%3A+Updates+from+Jazadco%2C+Musafir%2C+Saudi+Space+Agency+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2023%2F12%2F07%2Fextra-launching-electronics-section-at-panda-saudi-enaya-rebuffs-uca-merger-offer-plus-updates-from-jazadco-musafir-saudi-space-agency%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\/07\/extra-launching-electronics-section-at-panda-saudi-enaya-rebuffs-uca-merger-offer-plus-updates-from-jazadco-musafir-saudi-space-agency\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/470.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82636\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/07\/extra-launching-electronics-section-at-panda-saudi-enaya-rebuffs-uca-merger-offer-plus-updates-from-jazadco-musafir-saudi-space-agency\/470-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/470.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"470.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/470.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/470.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82635\" class=\"content-area-description single-story post-82635 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-cop28 tag-enaya tag-enterpriseam-ksa tag-extra tag-jazadco tag-musafir tag-panda 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\/.7ea5b50d-5d92-40bf-b5ea-28f230673ce0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RETAIL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>eXtra will launch new electronics section at retailer Panda: <\/strong>United Electronics Company, best known as eXtra, signed a 10-year agreement with retail chain Panda to manage their electronics and home appliances department with a \u201cstore inside a store\u201d named \u201cClix,\u201d it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/433kfd4z\" style=\"\" rel=\"noopener\">filing to Tadawul<\/a> earlier this week. The plan, which was first announced <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2w8njxb4\" style=\"\" rel=\"noopener\">earlier this year<\/a>, will hit eXtra\u2019s income statement starting in the first quarter of 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>M&A-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Enaya rejects UCA merger offer:<\/strong>Shareholders of Tadawul-listed <a target=\"_blank\" href=\"https:\/\/www.saudienaya.com\/\" style=\"\" rel=\"noopener\">Saudi Enaya<\/a><a target=\"_blank\" href=\"https:\/\/www.saudienaya.com\/\" style=\"\" rel=\"noopener\">Cooperative Assurance<\/a> have <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2k7nr383\" style=\"\" rel=\"noopener\">rejected<\/a> a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/bd8jx5rd\" style=\"\" rel=\"noopener\">takeover bid<\/a> by <a target=\"_blank\" href=\"https:\/\/uca.com.sa\/ar\/%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">United Cooperative Assurance Company (UCA)<\/a>. Saudi Enaya last year <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc4b4rem\" style=\"\" rel=\"noopener\">rejected<\/a> a takeover nid by Amana Cooperative Assurance. All three companies are listed on the Tadawul.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DEBT-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jazadco secures loan from <\/strong><strong>the ADF: <\/strong><a target=\"_blank\" href=\"https:\/\/jazadco.com.sa\/about-us\/\" style=\"\" rel=\"noopener\">Jazan Energy and Development Company (Jazadco)<\/a> inked a two-year SAR 21 mn loan agreement with the <a target=\"_blank\" href=\"https:\/\/adf.gov.sa\/en\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Agricultural Development Fund<\/a> (ADF), to finance working capital, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/4cxmnkbu\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> earlier this week. The loan will finance working capital for Jazadco\u2019s shrimp farm.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shrimp farm project? <\/strong>Jazadco began its shrimp farming project in 2002 as part of a broader strategy to invest in aquaculture in Jazan \u2014 which is home to one of the richest fishery resources in the kingdom, according to its <a target=\"_blank\" href=\"https:\/\/jazadco.com.sa\/projects\/390\/\" style=\"\" rel=\"noopener\">project description<\/a>. The target shrimp production is 3.3k tons annually, with the facility home to 160 shrimp breeding ponds, and a processing plant with a processing capacity of 14 metric tons per day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TOURISM-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE travel agency Musafir expands to KSA: <\/strong>UAE-based online travel agency <a target=\"_blank\" href=\"https:\/\/www.musafir.com\/about\/default.aspx\" style=\"\" rel=\"noopener\">Musafir<\/a> has launched in Saudi Arabia as part of its expansion plans in the region, it <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/musafircom-commences-ksa-operations-to-meet-growing-travel-demands-tdk4odn6\" style=\"\" rel=\"noopener\">said<\/a>. It will \u201cstrategically target corporate clients, contributing to the kingdom's burgeoning tourism and corporate travel sector,\u201d Musafir said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A booming tourism industry: <\/strong>Saudi tourism revenues <a target=\"_blank\" href=\"https:\/\/saudigazette.com.sa\/article\/635428\/SAUDI-ARABIA\/Saudi-Arabias-tourism-surplus-soars-to-SR228-billion-in-Q1-2023\" style=\"\" rel=\"noopener\">more than tripled<\/a> in the first quarter of 2023 to report SAR 37 bn as officials have opened the country to visitors. The Tourism Ministry has recently updated its target for total annual tourist trips to 150 mn by 2030, with an equal split between domestic and international travelers, according to earlier statements by Tourism Minister Ahmed Al Khateeb. The ministry wants to see the industry account for 10% of GDP by that year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPACE-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Space Agency joins global space climate monitoring charter: <\/strong>The Saudi Space Agency (SSA) joined France\u2019s <a target=\"_blank\" href=\"https:\/\/cnes.fr\/en\" style=\"\" rel=\"noopener\">National Center for Space Studies<\/a> (CNES) led Space-based Climate Monitoring Charter to address climate change by leveraging space technologies to mitigate the climate crisis, <a target=\"_blank\" href=\"https:\/\/www.okaz.com.sa\/news\/local\/2149962\" style=\"\" rel=\"noopener\">Okaz<\/a> reported yesterday. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/enaya\/\">Enaya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/extra\/\">eXtra<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/jazadco\/\">Jazadco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/musafir\/\">Musafir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/panda\/\">Panda<\/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=\"82637\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"82637\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/07\/analysts-and-wall-street-cant-seem-to-agree\/\">\r\n                            Analysts and Wall Street can\u2019t seem to agree                        <\/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\/07\/analysts-and-wall-street-cant-seem-to-agree\/\" 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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Some 75% of the 40 economists surveyed believe that the Fed will only trim rates by half a percentage point or less in 2024 from its current 22-year high of 5.25-5.5%. Most of them, however, agreed that the Fed\u2019s rate hike cycle is now over.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wall Street expects officials to act sooner:<\/strong> Investors <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/64121833-7675-4fb0-b223-e5da836c416e\" style=\"\" rel=\"noopener\">rushed<\/a> into stocks, bonds, gold, and risk assets at the end of last week as markets were flooded with bets that the Fed will begin cutting rates as early as March, expecting rates to stand at around 4% by the end of next year.<\/p>\n<p><a target=\"_blank\" id=\"t.ea25fa56257528b02c9da93707dd54e5e1bc1cf2\" 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-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,174.02<\/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: +6.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,435.00<\/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: -27.2%)<\/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-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">24,704<\/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\">-1.7% (YTD: +69.2%)<\/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\">9,481.07<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -7.2%)<\/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\">3,969.17<\/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: +19%)<\/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\">4,565.61<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.03% (YTD: +19.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,515.38<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +0.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,483.26<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +18.2%)<\/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 74.40<\/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\">-3.6%<\/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>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 2.57<\/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\">-5.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,046.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5%<\/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 43,985.92<\/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: +155.3%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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 rose 0.3% yesterday<\/strong> on turnover of SAR 5.8 bn. The index is up 6.6% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Nadec (+9.9%), Riyadh Cables (+9.4%) and Enaya (+8.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Naqi (-6.8%), UCA (-4.8%) and Teco (-3.2%). <\/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\/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\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82639\" 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=\"82639\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/07\/a-push-for-ksa-qatar-ties\/\">\r\n                            KSA, Qatar sign agreements with focus on partnerships in all sectors                        <\/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\/07\/a-push-for-ksa-qatar-ties\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The agreements were signed on Tuesday on the sidelines of a visit by Crown Prince Mohammed bin Salman to Qatar to attend the Gulf Cooperation Council summit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Energy is the cornerstone: <\/strong>The two are looking to do more together on everything from electricity and energy efficiency to renewable energy. Riyadh and Doha will also look to diversify their trade relationship and find ways to make it easier for entrepreneurs, investment, and tech to flow between the two. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SHURA COUNCIL OKAYS AGREEMENTS<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>Shura <\/strong><strong>Council gave its final nod to three international agreements <\/strong>earlier this week<strong>.<\/strong>These include an MoU establishing a <strong>Saudi-South Korean<\/strong> strategic partnership council, another MoU outlining collaboration with <strong>India<\/strong> in sectors of power connectivity, green hydrogen and supply chains, and a final MoU with <strong>Portugal<\/strong> to foster cooperation in sports, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/ydf2dsc9\" style=\"\" rel=\"noopener\">Mubasher<\/a> reports.<\/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\/mohammed-bin-salman\/\">Mohammed bin Salman<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82641\" 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\/07\/82641\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82641\" class=\"content-area-description single-story post-82641 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 style=\"font-weight:400;\">6 December (Wednesday): 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>7 December (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ithra.com\/en\/programme\/2023\/lang-lang-disney-book\" style=\"\">Disney\u2019s Lang Lang Musical Show<\/a><\/span><span>, King Abdulaziz Center for World Culture, 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;\">12 December (Tuesday): 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 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>29 December (Friday)<\/span><span>: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ksa.com\/riyadh-season-to-host-turkish-super-cup-featuring-galatasaray-and-fenerbah%C3%A7e\" style=\"\">Turkish Super Cup<\/a><\/span><span style=\"font-weight:400;\">, Awal Park Stadium, 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><\/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>FinMin issues 2024 state budget | Putin, MbS talk ties but no oil | Acwa Power, PLN working on USD 1 bn green hydrogen project<\/p>\n","protected":false},"featured_media":82618,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-82617","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"8b36f90c-270c-4081-ad26-83dd62c5125b","teaser":"FinMin issues 2024 state budget | Putin, MbS talk ties but no oil | Acwa Power, PLN working on USD 1 bn green hydrogen project","photo_url":"https:\/\/ent.news\/2024\/1\/2272.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO 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