{"id":83064,"date":"2024-02-05T00:00:00","date_gmt":"2024-02-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=83064"},"modified":"2025-12-14T17:17:36","modified_gmt":"2025-12-14T17:17:36","slug":"blinken-is-inbound-its-a-big-week-for-the-defense-industry","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/blinken-is-inbound-its-a-big-week-for-the-defense-industry\/","title":{"rendered":"Blinken is inbound + it\u2019s a big week for the defense industry"},"content":{"rendered":"<section id=\"83066\" 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=\"83066\">\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\/2024\/02\/05\/blinken-due-in-saudi-arabia-this-morning-as-he-kickstarts-fifth-tour-since-october\/\">\r\n                            THIS MORNING: Blinken due in Saudi Arabia this morning as he kickstarts fifth tour since October                        <\/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\/2024\/02\/05\/blinken-due-in-saudi-arabia-this-morning-as-he-kickstarts-fifth-tour-since-october\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The State Department <a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-blinkens-travel-to-saudi-arabia-egypt-qatar-israel-and-the-west-bank\/\" style=\"\" rel=\"noopener\">said on Friday<\/a> that he would visit Saudi, Egypt, Qatar, Israel, and the West Bank between yesterday and Thursday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Blinken boarded an aircraft at Joint Base Andrews <\/strong>late yesterday afternoon, with a Reuters photographer reporting that he was \u201cen route to Saudi Arabia.\u201d The war in Gaza and disruptions to shipping in the Red Sea were at the top of the agenda when he <a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-blinkens-call-with-uk-foreign-secretary-cameron-2\/\" style=\"\" rel=\"noopener\">spoke yesterday<\/a> with UK Foreign Secretary David Cameron.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Blinken touched base with Foreign Minister Prince Faisal bin Farhan Al Saud <\/strong>ahead of the trip, <a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-blinkens-call-with-saudi-foreign-minister-prince-faisal-bin-farhan-al-saud-11\/\" style=\"\" rel=\"noopener\">emphasizing<\/a> the importance of a \u201cmore integrated, peaceful region\u201d and pushing for a \u201chumanitarian pause that includes the release of hostages held by hamas.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-arabia-pushes-us-defence-pact-ahead-presidential-election-2024-02-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong><strong> is reporting that officials in Riyadh are pushing to close a US <\/strong><strong>defense pact <\/strong>before Joe Biden heads into election day in November. The report relies on three unnamed sources, and officials at the Foreign Ministry have said nothing official on the matter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>AND- The Riyad Bank Saudi Arabia PMI is due out at 7:15am KSA. <\/strong><a target=\"_blank\" href=\"https:\/\/www.pmi.spglobal.com\/Public\/Release\/PressReleases?language=en\" style=\"\" rel=\"noopener\">Tap or click here<\/a><a target=\"_blank\" href=\"https:\/\/www.pmi.spglobal.com\/Public\/Release\/PressReleases?language=en\" style=\"\" rel=\"noopener\">to find it<\/a> after it\u2019s released \u2014 or check back with us tomorrow morning for coverage. A reading above the 50 mark indicates growing business activity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>DATA POINT- <\/strong><strong>Consumer spending via Mada cards jumped 7% to SAR 1.3 tn in 2023<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1702452\" style=\"\" rel=\"noopener\">Argaam<\/a> reported yesterday. This includes total withdrawals from ATMs, POS transactions, and e-commerce through the domestic payment network. POS transactions rose 10% y-o-y to c. SAR 614 bn last year, while withdrawals from ATMs dipped c. 1% to SAR 548.8 bn. E-commerce through Mada grew 28% y-o-y in the same period to SAR 156.9 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>PSA- <\/strong><strong>The Zakat, Tax and Customs Authority (Zatca) is reminding businesses to submit <\/strong><strong>their tax returns before Sunday, 30 June<\/strong> if they want to benefit from its tax fine waiver program, it said in a <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1187.aspx\" style=\"\" rel=\"noopener\">statement<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s on the exemption menu?<\/strong> Exemptions apply on fines for late registration, late payment, late filing of tax returns, and a correction for value-added tax returns among others.<strong> Tax <\/strong>dodgers need not apply for an exemption, nor should folks who paid fines before the exemption program began. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s a cloudy day in Riyadh and Makkah<\/strong> today with a lot of wind in Jeddah.<\/p>\n<ul>\n<li><strong>Riyadh:<\/strong> 22\u00b0C daytime \/ 11\u00b0C overnight<\/li>\n<li><strong>Jeddah:<\/strong> 26\u00b0C daytime \/ 19\u00b0C overnight<\/li>\n<li><strong>Makkah:<\/strong> 27\u00b0C daytime \/ 17\u00b0C overnight<\/li>\n<\/ul>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- The Saudi Real Estate Refinance Company (SRC) could go to market with sukuk <\/strong><strong>worth up to SAR <\/strong><strong>2 bn in 2Q<\/strong> on behalf of the Municipality, Rural Affairs and Housing Ministry, minister Majid Al Hogail told Al Arabiya in an interview (<a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/special-stories\/2024\/02\/04\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%A7%D8%B3%D9%83%D8%A7%D9%86-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D9%86%D8%B7%D9%85%D8%AD-%D9%84%D8%A7%D8%B5%D8%AF%D8%A7%D8%B1-%D8%B5%D9%83%D9%88%D9%83-%D8%AA%D9%85%D9%88%D9%8A%D9%84-%D8%B9%D9%82%D8%A7%D8%B1%D9%8A-%D8%A8%D9%82%D9%8A%D9%85%D8%A9-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D9%8A-%D8%B1%D9%8A%D8%A7%D9%84-%D9%81%D9%8A-2024\" style=\"\" rel=\"noopener\">watch, runtime: 7:23<\/a>). The issuances will be taken to both local and global markets, he said during a business event in London. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SRC had one big issuance last year<\/strong> as it completed a SAR 3.5 bn dual-tranche sukuk sale <a target=\"_blank\" href=\"https:\/\/momrah.gov.sa\/en\/news\/14540\" style=\"\" rel=\"noopener\">in<\/a><a target=\"_blank\" href=\"https:\/\/momrah.gov.sa\/en\/news\/14540\" style=\"\" rel=\"noopener\">November<\/a> under its SAR 20 bn domestic sukuk programme. SRC is a wholly-owned unit of the Public Investment Fund. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Qualified investors have until Thursday, 8 February, to place orders for the IPO <\/strong><strong>of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.quarafinance.com\/en\/\" style=\"\" rel=\"noopener\">Quara Finance<\/a><\/strong> on Tadawul\u2019s parallel market, Nomu, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/dY3BCoJAGISfxqv_pCnabYkyJEvrkO0lNNZVNFd0y9dPqENBze0bvmGIU0q8zR6VzHSl2qyZ-Mzdi8NcWBsP-2AZzpHsWAR_5VvAjE7EiX8qOMYOknUc2VscEMB9C_gTBgqJy0blrzvW5rYnifeiEL3ozXs_1aXW3bAwYGAcR1MqJRthXtXNwK9JqQZN6bdJXV0XkXbOT1XBfBM!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFRWVWs1Q2ltcHByZGpMYXpVYzF1eGx0NXFCVlZHU0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvZW4vY29tcGFueVN5bWJvbC8xMDAxL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4MDgy\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The NBFS company plans to take an 8.8% stake to market. It aims to price the offering at between SAR 13 and SAR 15 per share<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Gulf Air\u2019s first flight to AlUla International Airport<\/strong><strong> took off yesterday<\/strong>, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2040708\" style=\"\" rel=\"noopener\">SPA<\/a> reports. The Bahraini-based air carrier will be operating seasonal flights to AlUla twice every week from 3 February to 6 March and from 10 April to 17 April.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Some 25k artifacts dating back from the early Islamic era were discovered in Jeddah<\/strong>, the Jeddah Historic District Program said in a <a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/jeddah-historic-district-program-the-discovery-of-25-000-fragments-of-artifacts-that-dates-to-the-early-islamic-era-302052665.html#:~:text=The%20Archaeology%20Project%20aims%20to,the%20Saudi%20Vision%20(2030).\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Were you \u2014 like us \u2014 impressed by <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/fee87af6-9bb3-4cca-8df5-0ec45361c7d6\" style=\"\" rel=\"noopener\">Princess Reema\u2019s smart response<\/a><\/strong><strong> to folks <\/strong><strong>opposed to holding the WTA finals in Riyadh? <\/strong>Well, just wait until you hear <strong>Yara Alhogbani<\/strong> discuss her professional journey and dreams as a tennis player in an interview with Arab News (<a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2453196\/sport\" style=\"\" rel=\"noopener\">watch, runtime: 2:28<\/a>). She was sharp, smart, and well spoken. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\u201cHaving more of these kinds of matches, tournaments, it\u2019s going to help grow the sport and it would really be nice to have a lot of those WTA tournaments there [in Saudi]. They have no idea what kind of impact they can make on us,\u201d said Alhogbani.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alhogbani <\/strong><strong>lost <\/strong><strong>to <\/strong><strong>Spanish player Sara Sorribes in the qualifying rounds of the Mubadala <\/strong><strong>Abu Dhabi Open last Saturday <\/strong>in straight sets (6-0, 6-1). Sorribes was then beaten by US player Bernarda Pera (6-4, 6-1).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Former<\/strong><strong> NFL quarterback Tom <\/strong><strong>Brady\u2019s team emerged victorious in the inaugural <\/strong><strong>electric race-boats UIM E1 World Championship <\/strong>hosted in Jeddah over the weekend. Marc Anthony\u2019s Team (Miami) secured second place, while Rafael Nadal\u2019s Team (Rafa) came in third. The series will advance to Venice on <a target=\"_blank\" href=\"https:\/\/www.e1series.com\/race-calendar\" style=\"\" rel=\"noopener\">11 May<\/a> for its next leg. The Public Investment Fund is the principal partner of the championship.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s no single big story abroad this morning<\/strong>, as is often the case on Mondays. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the business pages<\/strong>, you have your choice between a Financial Times report that <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/26ec70e8-38e6-453e-bc84-6737719b7b6b\" style=\"\" rel=\"noopener\">claims Iran<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/26ec70e8-38e6-453e-bc84-6737719b7b6b\" style=\"\" rel=\"noopener\">used accounts at Lloyds and Santander to sidestep western sanctions<\/a> while the Wall Street Journal continues to go deep on Elon Musk with <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/elon-musk-tesla-money-drugs-board-61af9ac4\" style=\"\" rel=\"noopener\">The money and drugs that tie Elon Musk to some Tesla directors<\/a>. (Missed the first part? <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/elon-musk-illegal-drugs-e826a9e1\" style=\"\" rel=\"noopener\">Tap or click here.<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In foreign affairs: <\/strong>A range of global media organizations are trying to articulate a clear US foreign policy toward the Middle East as Secretary of State Antony Blinken heads back to this part of the world. The <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/01\/31\/opinion\/biden-iran-israel.html\" style=\"\" rel=\"noopener\">New York Times\u2019 Tom Friedman<\/a> is still pushing his notion of a \u201cBiden Doctrine,\u201d while the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/u-s-pairs-military-action-with-diplomacy-in-effort-to-reshape-middle-east-62bbb3eb\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> writes that Washington is \u201cpairing military action with diplomacy\u201d in a bid to reshape our corner of the world. The pillars: \u201crolling back Iranian influence by resolving Gaza conflict, pushing Israel-Saudi normalization, and establishing a Palestinian state.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US struck Houthi positions in Yemen <\/strong>for a <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/02\/04\/world\/middleeast\/us-mideast-strikes-blinken.html\" style=\"\" rel=\"noopener\">third day in a row<\/a> yesterday. A top US national security official <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/yemens-houthis-vow-response-after-us-british-strikes-2024-02-04\/\" style=\"\" rel=\"noopener\">said yesterday<\/a> that wider attacks against Iran-backed groups in the region would continue. US strikes have so far hit groups in Yemen, Iraq, and Syria.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NEW- <\/strong><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/biennale.org.sa\/contemporary-art-biennale-2024\/\" style=\"\" rel=\"noopener\">Diriyah Contemporary Art Biennale<\/a><\/strong><strong> will kick off in Diriyah on Tuesday, 20 <\/strong><strong>February <\/strong>and wrap up on Friday, 24 May. Headlined After Rain, it will be led by German curator Ute Meta Bauer and features 92 artists from 43 countries. It will see several new commissions, including a joint project documenting \u201cSaudi futurism\u201d since the 1940s by local artist Ahmed Mater and Berlin-based photographer Armin Linke. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The PIF Private Sector Forum takes place in Riyadh <\/strong>this coming Tuesday, 6 February to Wednesday, 7 February, the PIF said on <a target=\"_blank\" href=\"https:\/\/twitter.com\/PIF_en\/status\/1746524937408368742\" style=\"\" rel=\"noopener\">Linkedin<\/a>. The event will bring together the fund, portfolio companies, private sector and others to help advance economic growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Hail Toyota International Rally which will kick off on 8 February<\/strong> and wrap up on 10 February. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Filipino exporters are coming to town: <\/strong>A business-matching tour will kick off on Saturday, 10 February, where a group of Filipino exporters of food, beverage and personal care products will tour Riyadh, Jeddah, and Dammam to market their businesses, <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2449066\/world\" style=\"\" rel=\"noopener\">Arab News<\/a> reports.<\/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.scmf.events\/\" style=\"\" rel=\"noopener\">Saudi Capital Market Forum<\/a><\/strong><strong> will open on Monday, 19 February<\/strong> and wrap up on Tuesday. Held under the theme \u201cPowering Growth,\u201d the event will bring together members of the global financial landscape for discussions on the capital markets and investment strategies.<\/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\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\/antony-bliken\/\">Antony Bliken<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/consumer-spending\/\">consumer spending<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diriyah-contemporary-art-biennale\/\">Diriyah Contemporary Art Biennale<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nomu\/\">Nomu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/quara-finance\/\">Quara Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-real-estate-refinance-company\/\">Saudi Real Estate Refinance Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-us-relations\/\">Saudi-US relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/world-defense-show\/\">World Defense Show<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/yara-alhogbani\/\">Yara Alhogbani<\/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=\"83068\" 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=\"83068\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">RETAIL<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/cenomi-wraps-up-the-sar-200-mn-sale-of-sahara-plaza\/\">\r\n                            Cenomi wraps up the SAR 200 mn sale of Sahara Plaza                        <\/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 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   \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/cenomi-wraps-up-the-sar-200-mn-sale-of-sahara-plaza\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83069\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/cenomi-wraps-up-the-sar-200-mn-sale-of-sahara-plaza\/263-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"263.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83068\" class=\"content-area-description single-story post-83068 post type-post status-publish format-standard has-post-thumbnail hentry category-retail tag-cenomi-center tag-enterpriseam-ksa tag-istithmar-capital tag-retail tag-sahara-plaza 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\/2\/.26e7fcbf-f2bb-40d2-a394-f915cf74ff37.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Our friends at <\/strong><strong>Cenomi Centers have wrapped up the strategic sale of Sahara Plaza <\/strong><strong>to<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saib.com.sa\/en\/alistithmar-capital\" style=\"\" rel=\"noopener\">Alistithmar<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saib.com.sa\/en\/alistithmar-capital\" style=\"\" rel=\"noopener\">Capital<\/a><\/strong> in a SAR 200 mn transaction as the company continues to shed non-core assets, using the proceeds to fuel its growth across the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The sale of the property in Riyadh\u2019s King Fahd district will have no real impact on <\/strong><strong>Cenomi\u2019s revenues <\/strong>\u2014 the company estimates it will shave just SAR 5 mn per year off its top line, the company said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/Resources\/fsPdf\/16170_1381_2024-02-02_19-34-51_en.pdf\" style=\"\" rel=\"noopener\">a disclosure to Tadawul (pdf)<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>This is the fourth transaction under the retail giant\u2019s SAR 2 bn non-core asset sale program, which has so far earned the company a total of SAR 1.14 bn. It has divested assets in Olaya and Al Raed districts as well as downtown Al Ahsa. The retail heavyweight has been on a drive to streamline its portfolio by divesting assets that are \u201cno longer aligned with the strategic direction of the company.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Sahara Plaza: <\/strong>The single-tenant department store is located in Riyadh\u2019s King Fahd District. It opened its doors in 2002 as the first of Cenomi Centers 22 operating assets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cenomi will book about SAR 79 mn in gains <\/strong>related to the sale of the asset in its 1Q 2024 financials, <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWnmJ7jAqxkdEiRFnYwYdRxKYIThK_HtHXWl8ddf23NubAoEEiKDnjFOVSUFz3a-Jt3EDD62hj7NwYPVxPmh3571-2MSxA6tnAOPI1UA0tSe4wBA9IP_o8UMF-FtPviJh6xV4E_EOfMkwAsJzmT7-EYjU9jmQiu1ZxSrzVOnxQany2DHQwLquTS4lz5m5lYWB7yQHeVSQPJM37uZyN1F0R-tTrtVEr0oqLvGlSKU-5NhWE2ImoCyWCWZRsfKVmzpB4wogTRZp\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODA3Ny9jb21wYW55U3ltYm9sLzQzMjEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">it said in a regulatory filing<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>\u201cWith a further SAR 800 mn in sales proceeds [from the divestment program] expected, we remain committed to unlocking value in our portfolio,\u201d Cenomi Centers CEO Alison Rehill-Erguven said. Cenomi is doubling down on a growth strategy that will see it build out \u201cnext-generation retail and lifestyle assets\u201d across the Kingdom. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cenomi-center\/\">Cenomi Center<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/istithmar-capital\/\">Istithmar Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/retail\/\">Retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sahara-plaza\/\">Sahara Plaza<\/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=\"83070\" 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=\"83070\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/solutions-by-stc-now-owns-40-of-devoteam-middle-east\/\">\r\n                            Solutions by stc closes 40% acquisition of Devoteam Middle East                        <\/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\/2024\/02\/05\/solutions-by-stc-now-owns-40-of-devoteam-middle-east\/\" 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\/2024\/02\/05\/solutions-by-stc-now-owns-40-of-devoteam-middle-east\/')\">\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\/2024\/02\/05\/solutions-by-stc-now-owns-40-of-devoteam-middle-east\/\">\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=Solutions by stc now owns 40% of Devoteam Middle East&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/solutions-by-stc-now-owns-40-of-devoteam-middle-east\/\">\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\/2024\/02\/05\/solutions-by-stc-now-owns-40-of-devoteam-middle-east\/&title=Solutions by stc now owns 40% of Devoteam Middle East\">\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=Solutions+by+stc+now+owns+40%25+of+Devoteam+Middle+East+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F05%2Fsolutions-by-stc-now-owns-40-of-devoteam-middle-east%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\/2024\/02\/05\/solutions-by-stc-now-owns-40-of-devoteam-middle-east\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1375.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83071\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/solutions-by-stc-now-owns-40-of-devoteam-middle-east\/1375-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1375.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1375.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1375.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1375.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83070\" class=\"content-area-description single-story post-83070 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-acquisitions tag-devoteam-middle-east tag-enterpriseam-ksa tag-giza-systems tag-ma-watch tag-mergers tag-solutions-by-stc tag-stc tag-vas-integrated-solutions 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\/2\/.26e7fcbf-f2bb-40d2-a394-f915cf74ff37.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Solutions officially<\/strong><strong> grabs 40% of Devoteam Middle East:<\/strong> The Arabian Internet and Communications Services Company (Solutions), the tech subsidiary of telecom operator stc, has completed the acquisition of a 40% stake in Devoteam Middle East in a transaction valued at SAR 742 mn, it said in a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/3npuvpsb\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve been expecting this:<\/strong> Solutions signed a binding offer <a target=\"_blank\" href=\"https:\/\/solutions.com.sa\/news\/solutions-signs-a-binding-offer-to-acquire-40-of-devoteam-middle-east\/\" style=\"\" rel=\"noopener\">in June last year<\/a> with France\u2019s Devoteam and Ortill Investment to acquire 40% of their digital consulting business in the region for SAR 742 mn. The General Authority for Competition (GAC) said in November it <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lZLRToMwFIafZRdcmnMooQXv6owdy5AhoNCbpWxkkkAhptPMp5e4K6Zs2rs235__fCcFCTlIrd7rvTJ1p1Uz3AtJNy6nSBYeRrhI50gxETRLPfs-cOBlDHihoBg_8jgizEXxjCD_lcdk7WL8sA6dFT6hQPq3PE4cfrW_GPJsGrAhAQmyPCbHtuwaKBhBcnrhWncHva3aShso7GESOS6LuM8Gl-WdCFbc8Sg7B35Z1tm4P7fxDVzSvShMKCTq7Yp0TE_S267tlR6bL0Hum648_YxXY_pbCy00aqc-Do011Cut58pAbk8DwQ5yxpD40LdZln-mVekHdXAj2k1o3ILPZl-Mf8si\/dz\/d5\/L0lHSkovd0RNQU5rQUVnQSEhLzROVkUvZW4!\/\" style=\"\" rel=\"noopener\">would not object<\/a> to the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Better late than never: <\/strong>Solutions said last year it expected the acquisition to close in the fourth quarter of 2023. It remains unclear what caused the delay.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Solutions said it bought the Devoteam stake to \u201cexpand and diversify the business scope <\/strong><strong>of solutions<\/strong> to deliver integrated and innovative services with best digital practices to meet the market needs of technical products and digital solutions in the Kingdom and the region.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In plain English: <\/strong>Devoteam provides cloud, business automation, cybersecurity, consulting and other services to help businesses make the leap to digital and create new online products and experiences. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/acquisitions\/\">acquisitions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/devoteam-middle-east\/\">Devoteam Middle East<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/giza-systems\/\">Giza Systems<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mergers\/\">Mergers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/solutions-by-stc\/\">Solutions by stc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/stc\/\">STC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/vas-integrated-solutions\/\">VAS Integrated Solutions<\/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=\"83072\" 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=\"83072\">\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\">INDUSTRY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/expect-a-big-week-for-defense-industry-news\/\">\r\n                            It\u2019s a big week for the defense industry in Saudi Arabia                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83073\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/expect-a-big-week-for-defense-industry-news\/238-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/238.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"238.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/238.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/238.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83072\" class=\"content-area-description single-story post-83072 post type-post status-publish format-standard has-post-thumbnail hentry category-industry tag-bandar-al-khorayef tag-defense tag-enterpriseam-ksa tag-industry tag-manufacturing tag-ministry-of-industry-and-mineral-resources tag-world-defense-show 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\/2\/.26e7fcbf-f2bb-40d2-a394-f915cf74ff37.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It\u2019s a big week for news from the defense industry<\/strong> as the <a target=\"_blank\" href=\"https:\/\/www.worlddefenseshow.com\/\" style=\"\" rel=\"noopener\">World Defence Show<\/a> continues in Riyadh through Thursday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The number of licenses to companies in the defense industry has doubled in the past two <\/strong><strong>years<\/strong>, Industry and Mineral Resources Bandar Al Khorayef told Asharq Business in an interview yesterday (<a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/60033\/%D8%A7%D9%84%D8%AE%D8%B1%D9%8A%D9%81-%D9%84%D9%80%D8%A7%D9%84%D8%B4%D8%B1%D9%82-4-%D8%AA%D8%AD%D8%AF%D9%8A%D8%A7%D8%AA-%D8%AA%D9%88%D8%A7%D8%AC%D9%87-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D8%A7%D9%84%D8%B9%D8%B3%D9%83%D8%B1%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">watch, runtime: 9:12<\/a>). \u201cThis reflects an increased momentum due to a growing interest by local or foreign investors to venture into the sector,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>The Kingdom <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/us-saudi-defense\/saudi-arabia-launches-military-industrial-licensing-program-idUKKCN1VT0JO\/\" style=\"\" rel=\"noopener\">launched in 2019<\/a> a licensing program for defense industries as part of its bid to diversify away from oil. The General Authority for Military Industries now issues licenses to firms to manufacture defense systems, military equipment, firearms, ammunition, and other industry standards. The sector is open to investment from both domestic and foreign investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Khorayef says the industry faces four challenges as it looks to grow<\/strong>, including the need for a wider industrial base to ensure feeder industries are in place. The Kingdom has accelerated efforts to establish a number of basic industries to make the core sector more attractive to investors, he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s about manufacturing, not assembly: <\/strong>\u201cAnother challenge is the transfer of technologies, especially that the Kingdom\u2019s strategy is not focused on an assembly-based industry. We want to be a main player in the [defense tech] industry,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The Kingdom has a target of localizing over 50% of its military equipment spending by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO YESTERDAY<\/strong> at the World Defense Show (or on the sidelines)<\/p>\n<ul>\n<li>Saudi Arabia is contributing SAR 100 mn to the Islamic Military Counter Terrorism Coalition, Defense Minister Prince Khalid bin Salman <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2040748\" style=\"\" rel=\"noopener\">said<\/a>. <\/li>\n<li>Prince Khalid also met yesterday with UK Secretary of State for Defense Grant Shapps, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/w2041244\" style=\"\" rel=\"noopener\">SPA reports<\/a>.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MORNING DISTRACTION- <\/strong>The Ministry of Interior posted a video of a police car showcase featuring the all-electric Lucid police cruiser on <a target=\"_blank\" href=\"https:\/\/twitter.com\/MOISaudiArabia\/status\/1753791813830193153\" style=\"\" rel=\"noopener\">social media platform X<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/bandar-al-khorayef\/\">Bandar Al Khorayef<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/defense\/\">Defense<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ministry-of-industry-and-mineral-resources\/\">Ministry of Industry and Mineral Resources<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/world-defense-show\/\">World Defense Show<\/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=\"83074\" 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=\"83074\">\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\">ENTERPRISE EXPLAINS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/its-getting-easier-for-smes-in-saudi-to-get-loan-guarantees-heres-how-it-works\/\">\r\n                            Kafalah provided loan guarantees worth SAR 15.6 bn to MSMEs in 2023                        <\/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\/2024\/02\/05\/its-getting-easier-for-smes-in-saudi-to-get-loan-guarantees-heres-how-it-works\/\" 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\/2024\/02\/05\/its-getting-easier-for-smes-in-saudi-to-get-loan-guarantees-heres-how-it-works\/')\">\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\/2024\/02\/05\/its-getting-easier-for-smes-in-saudi-to-get-loan-guarantees-heres-how-it-works\/\">\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=It\u2019s getting easier for SMEs in Saudi to get loan guarantees. Here\u2019s how it works.&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/its-getting-easier-for-smes-in-saudi-to-get-loan-guarantees-heres-how-it-works\/\">\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\/2024\/02\/05\/its-getting-easier-for-smes-in-saudi-to-get-loan-guarantees-heres-how-it-works\/&title=It\u2019s getting easier for SMEs in Saudi to get loan guarantees. Here\u2019s how it works.\">\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=It%E2%80%99s+getting+easier+for+SMEs+in+Saudi+to+get+loan+guarantees.+Here%E2%80%99s+how+it+works.+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F05%2Fits-getting-easier-for-smes-in-saudi-to-get-loan-guarantees-heres-how-it-works%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\/2024\/02\/05\/its-getting-easier-for-smes-in-saudi-to-get-loan-guarantees-heres-how-it-works\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83074\" class=\"content-area-description single-story post-83074 post type-post status-publish format-standard hentry category-enterprise-explains tag-enterprise-explains tag-enterpriseam-ksa tag-finance tag-kafalah tag-msmes tag-sme-bank tag-smes 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\/2\/.26e7fcbf-f2bb-40d2-a394-f915cf74ff37.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Loan guarantees provided to MSMEs from Kafalah, the Kingdom\u2019s small and medium <\/strong><strong>enterprise loan guarantee rose <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/230.pdf\" style=\"\" rel=\"noopener\">10% y-o-y<\/a><\/strong><strong> to SAR 15.6 bn in 2023<\/strong>,state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2040869\" style=\"\" rel=\"noopener\">SPA<\/a> reports citing a Kafalah press release. Some SAR 12.1 bn of that went to SMEs. The program is operated by the <a target=\"_blank\" href=\"https:\/\/smebank.gov.sa\/en\" style=\"\" rel=\"noopener\">SME Bank<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise? Define MSMEs: <\/strong>The Small and Medium Enterprises General Authority (Monsha'at) <a target=\"_blank\" href=\"https:\/\/www.monshaat.gov.sa\/en\/SMEs-definition\" style=\"\" rel=\"noopener\">defines<\/a> them as follows: <\/p>\n<ul>\n<li><strong>Micro enterprises<\/strong> have 1-5 full time employees and make up to SAR 3 mn in annual revenues;<\/li>\n<li><strong>Small enterprises<\/strong> have 6-49 full time employees and make between SAR 3 mn and SAR 40 mn in annual revenues; <\/li>\n<li><strong>Medium enterprises <\/strong>have 50-249 full time employees and make between SAR 40 mn and SAR 200 mn in annual revenues.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kafalah is writing larger tickets for a smaller number of guarantees<\/strong>, reporting a 13% y-o-y dip to 7.2k in the number of guarantees approved. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kafalah has been on drive to grow outside Riyadh: <\/strong>Enterprises operating out of Riyadh, Eastern Region, and Makkah have received 11% more guarantees in 2023 on an annual basis, while Asir saw a 66% increase, Jouf (45%), and Tabuk saw a 42% hike. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh remains the nation\u2019s entrepreneurial hub, with it now being home to 43.3% of <\/strong><strong>SMEs<\/strong>, according to the Monsha\u2019at report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kafala \u2764\ufe0f women:<\/strong> Some 1.1 women entrepreneurs received guarantees worth SAR 1.7 bn last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Higher employment rates in MSMEs<\/strong>: Kafala claims that enterprises usually see a 20% hike in staff numbers only six months after receiving Kafala guarantees.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Product portfolio: <\/strong>Kafalah offers 10 products to enterprises working in sectors including export, consultancy, culture and entertainment. (You can find the details for each product <a target=\"_blank\" href=\"https:\/\/www.kafalah.gov.sa\/en\/Products\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">here<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You can still apply for <\/strong><strong>the regular Kafalah product if you operate outside these sectors. <\/strong> It offers a maximum of SAR 2.5 mn in loan guarantees for micro enterprises, SAR 5 mn for small enterprises, and SAR 15 mn for medium enterprises, according to <a target=\"_blank\" href=\"https:\/\/www.kafalah.gov.sa\/en\/Products\/Pages\/Regular-Kafalah-Product-.aspx\" style=\"\" rel=\"noopener\">Kafalah website<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How to apply:<\/strong> Enterprises looking to apply for loan guarantees from Kafalah can find the requirements <a target=\"_blank\" href=\"https:\/\/x.com\/Kafalah\/status\/768056549235384320?s=20\" style=\"\" rel=\"noopener\">here<\/a> or can go through one of the partner lenders mentioned <a target=\"_blank\" href=\"https:\/\/www.kafalah.gov.sa\/en\/Help\/Pages\/HowTo.aspx\" style=\"\" rel=\"noopener\">here<\/a> to learn about the process. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT-<\/strong> The number of SMEs in the kingdom rose 3.5% q-o-q to 1.27 mn in 3Q 2023, a <a target=\"_blank\" href=\"https:\/\/www.monshaat.gov.sa\/sites\/default\/files\/2023-11\/EN%20Monsha%27at%20Q3%20SME%20Monitor_0.pdf\" style=\"\" rel=\"noopener\">quarterly report (pdf)<\/a> by Monsha'at showed. <strong>Small businesses grew Saudi\u2019s non-oil economy by 3.6% in 3Q, the report says.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Micro-sized firms are the most common SMEs:<\/strong><\/p>\n<ul>\n<li>Microenterprises accounted for for 1.1 mn of all SMEs in the kingdom (up from 1.06 mn the <a target=\"_blank\" href=\"https:\/\/www.monshaat.gov.sa\/sites\/default\/files\/2023-08\/Monshaat%20SME%20Monitor%20Q2%202023%20-%20EN.pdf\" style=\"\" rel=\"noopener\">previous quarter<\/a>);<\/li>\n<li>Small-sized companies: 151.2k (down from 152.8k);<\/li>\n<li>Medium-sized enterprises: 18.2k (up from 17.9k).<\/li>\n<\/ul>\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\/enterprise-explains\/\">ENTERPRISE EXPLAINS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/finance\/\">FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/kafalah\/\">Kafalah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/msmes\/\">MSMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sme-bank\/\">SME Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/smes\/\">SMEs<\/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=\"83075\" 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=\"83075\">\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\">REGULATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/govt-wants-regulator-to-make-it-easier-for-real-estate-developers-to-get-shovels-into-the-ground\/\">\r\n                            New rules aim to make it easier for Etmam to drive growth of the real estate sector                        <\/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\" 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data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/govt-wants-regulator-to-make-it-easier-for-real-estate-developers-to-get-shovels-into-the-ground\/2688-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2688.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2688.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2688.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2688.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83075\" class=\"content-area-description single-story post-83075 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation tag-enterpriseam-ksa tag-etmam tag-istitlaa tag-real-estate tag-regulation tag-wafi 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\/2\/.3aadb4b9-6d4d-4b8b-82ee-012f87a80bd3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Driving growth in the real estate industry:<\/strong> The Municipal, Rural Affairs and Housing Ministry is out with draft regulations for the <a target=\"_blank\" href=\"https:\/\/etmam.momrah.gov.sa\/\" style=\"\" rel=\"noopener\">Developers Service Center (Etmam)<\/a> in what it\u2019s positioning as a bid to drive growth in the industry by cutting red tape, a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/162.pdf\" style=\"\" rel=\"noopener\">draft of the regulations (pdf)<\/a> shows. The regulations grant the real estate-focused center its own independent corporate body with financial and administrative independence. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The proposed regulations aim to make life easier for real estate developers<\/strong>, from license application onward. Among the powers Etmam would have: <\/p>\n<ul>\n<li>Delivering faster, clearer licensing procedures, including through delivery of real estate and municipal procedures;<\/li>\n<li>Making sure a wide range of government agencies quickly provide services to developers;<\/li>\n<li>Managing and supervising online platforms providing services to real estate developers;<\/li>\n<li>Registering and qualifying those engaged with real estate development at government and non-government entities;<\/li>\n<li>Carrying out technical reviews for projects\u2019 blueprints + providing feasibility studies for projects to assess the viability of the project according to present and future local market needs.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One unified system: <\/strong>The regulations envision Etmam ensuring streamlined procedures for developers through a unified digital platform.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Launched in 2016, Etmam serves as a bridge between authorities and real estate developers. It\u2019s mission has been to make it easier to launch housing projects and deliver a single-window digital system to speed-up approvals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gov\u2019t wants to know what the public thinks:<\/strong> The ministry has put the draft regulations up for public consultation on the public consultation platform <a target=\"_blank\" href=\"https:\/\/istitlaa.ncc.gov.sa\/ar\/Municipality\/momra\/ETMAM\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Istitlaa<\/a>. Stakeholders have until 29 February to submit comments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters now:<\/strong> The government has been pushing to attract fresh investment to the real estate industry as it looks to make housing more accessible to citizens. An off-plan property sales and rentals law is set to hit the market in April as the sector continues to gain steam. Off-plan sales are rising: Some 47 off-plan sales projects were licensed in the first six months of 2023, a 50% increase over the same period a year earlier, according to <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2359636\/business-economy\" style=\"\" rel=\"noopener\">figures<\/a> by the Municipal, Rural Affairs and Housing Ministry\u2019s off-plan sales and leasing arm, WAFI.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/etmam\/\">Etmam<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/istitlaa\/\">Istitlaa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regulation\/\">REGULATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/wafi\/\">Wafi<\/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=\"83077\" 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=\"83077\">\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\">DESALINATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/solar-powered-desalination-plant-yanbu-4-starts-production\/\">\r\n                            SWPC\u2019s solar-powered Yanbu 4 desalination plant begins 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\/2024\/02\/05\/solar-powered-desalination-plant-yanbu-4-starts-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/solar-powered-desalination-plant-yanbu-4-starts-production\/')\">\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\/2024\/02\/05\/solar-powered-desalination-plant-yanbu-4-starts-production\/\">\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=Solar-powered desalination plant Yanbu 4 starts production&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/solar-powered-desalination-plant-yanbu-4-starts-production\/\">\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\/2024\/02\/05\/solar-powered-desalination-plant-yanbu-4-starts-production\/&title=Solar-powered desalination plant Yanbu 4 starts production\">\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=Solar-powered+desalination+plant+Yanbu+4+starts+production+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F05%2Fsolar-powered-desalination-plant-yanbu-4-starts-production%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\/2024\/02\/05\/solar-powered-desalination-plant-yanbu-4-starts-production\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/198.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83078\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/solar-powered-desalination-plant-yanbu-4-starts-production\/198-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/198.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"198.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/198.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/198.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83077\" class=\"content-area-description single-story post-83077 post type-post status-publish format-standard has-post-thumbnail hentry category-desalination tag-desalination tag-engie tag-enterpriseam-ksa tag-nesma tag-renewables tag-saudi-water-partnership-company 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\/2\/.26e7fcbf-f2bb-40d2-a394-f915cf74ff37.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SWPC starts production at Yanbu 4<\/strong><strong>:<\/strong> The Saudi Water Partnership Company (Swpc) has launched its operations at the 450k cbm \/ day <a target=\"_blank\" href=\"https:\/\/bitly.ws\/3cjuh\" style=\"\" rel=\"noopener\">Yanbu 4<\/a> desalination plant, according to a <a target=\"_blank\" href=\"https:\/\/twitter.com\/SWPCsmllc\/status\/1753729653968191577\" style=\"\" rel=\"noopener\">statement<\/a> earlier this week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong> The SAR 3.1 bn (USD 827 mn) project is owned and developed by a consortium led by Engie \u2014 which holds a 40% stake \u2014 along with local private player <a target=\"_blank\" href=\"https:\/\/www.nesma.com\/\" style=\"\" rel=\"noopener\">Nesma<\/a> and <a target=\"_blank\" href=\"https:\/\/mowah.com\/\" style=\"\" rel=\"noopener\">Mowah<\/a>, with a 30% stake each. It <a target=\"_blank\" href=\"https:\/\/engiemiddleeast.com\/press-releases\/engie-financial-closure-yanbu-4-iwp\/\" style=\"\" rel=\"noopener\">is powered<\/a> by 20 MW of solar energy and has a 42 km water transport system and a water storage tank with a two-day capacity. The plant uses reverse osmosis to supply water to Makkah and Medina. GE developed the <a target=\"_blank\" href=\"https:\/\/www.gegridsolutions.com\/press\/gepress\/ge-wins-deal-to-build-turnkey-substation-for-first-clean-energy-desalination-plant-in-saudi-arabia.htm\" style=\"\" rel=\"noopener\">substation<\/a> connecting the national grid to the project solar plant.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More desalination from SWPC underway:<\/strong> The company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77d0038a-e7f2-43cf-99ef-1b9df66682f0\" style=\"\" rel=\"noopener\">issued tenders<\/a> last month for the finance, development, operation, and maintenance of the desalination water project in Jubail Industrial City, located next to the existing plant units \u2014 Jubail Phase 1, Jubail Phase 2, Jubail 3A and 3B. The tenders were issued to the pre-qualified bidders for the Jubail 4 & 6 Independent Water Projects, which will have a total capacity of 600k cbm\/day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The Kingdom is ramping up its desal projects: <\/strong>Last year, Acwa Power, Gulf Investment Corporation, and Al Bawani Water and Power Company inaugurated the solar-powered <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/bc9dc8f6-e1f3-4a38-ba3f-8bc110e5d482\" style=\"\" rel=\"noopener\">Jubail 3A independent RO water desalination plant<\/a>. EPC contractor Alucor also signed an agreement with South Korea\u2019s industrial equipment manufacturer Doosan <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/725d5506-fb58-4fa5-a10e-6e5494ece33a\" style=\"\" rel=\"noopener\">last week<\/a> to provide mechanical, electrical and instrumentation installation work for the Shuaibah 3 desalination project.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/desalination\/\">Desalination<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/engie\/\">Engie<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nesma\/\">Nesma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/renewables\/\">RENEWABLES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-water-partnership-company\/\">Saudi Water Partnership Company<\/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=\"83079\" 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=\"83079\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/saibs-bottomline-up-16-8-y-o-y-in-fy-2023\/\">\r\n                            Saib reports 16.8% y-o-y uptick in net income on higher total operating income                        <\/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\/2024\/02\/05\/saibs-bottomline-up-16-8-y-o-y-in-fy-2023\/\" 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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SAR 1.8 bn on the back of an increase in total operating income, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyNDA2EA_ODVPvyA3NMIgMyA3XNdREQD1Au2U\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODA4MC9jb21wYW55U3ltYm9sLzEwMzAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Its topline from its financing and investment business grew 21.4% y-o-y to SAR 3.4 bn in the same period on the back of an increase in gross financing and investment income.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saib\u2019s investments rose 14.6% y-o-y last year to SAR 32.3 bn<\/strong>, while its assets jumped 19.2% y-o-y to SAR 130 bn. Client deposits were up 19.6% y-o-y to SAR 83.2 bn. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saib\/\">Saib<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-investment-bank\/\">Saudi Investment Bank<\/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=\"83081\" 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=\"83081\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/planned-multi-use-prince-mohammed-bin-salman-stadium-in-qiddiya-gets-a-shoutout\/\">\r\n                            Planned multi-use Prince Mohammed bin Salman Stadium in Qiddiya gets a shoutout                        <\/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\/2024\/02\/05\/planned-multi-use-prince-mohammed-bin-salman-stadium-in-qiddiya-gets-a-shoutout\/\" 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 stadium is <a target=\"_blank\" href=\"https:\/\/qiddiya.com\/press-room\/qiddiya-announces-pioneering-sports-entertainment-and-culture-stadium-in-qiddiya-city\/\" style=\"\" rel=\"noopener\">set to be<\/a> the first venue globally to boast a combined retractable roof, pitch and LED wall, all while sitting atop a 200m cliff in Qiddiya.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mohammed-bin-salman-stadium\/\">Mohammed bin Salman Stadium<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/qiddiya\/\">Qiddiya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83082\" 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=\"83082\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/subscription-for-new-retail-saving-sukuk-program-starts-plus-supply-chains-infrastructure-manufacturing\/\">\r\n                            Subscription for new retail saving sukuk program starts. PLUS: Supply chains, infrastructure, manufacturing                        <\/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\/2024\/02\/05\/subscription-for-new-retail-saving-sukuk-program-starts-plus-supply-chains-infrastructure-manufacturing\/\" 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\/2024\/02\/05\/subscription-for-new-retail-saving-sukuk-program-starts-plus-supply-chains-infrastructure-manufacturing\/')\">\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\/2024\/02\/05\/subscription-for-new-retail-saving-sukuk-program-starts-plus-supply-chains-infrastructure-manufacturing\/\">\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=Subscription for new retail saving sukuk program starts. PLUS: Supply chains, infrastructure, manufacturing&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/subscription-for-new-retail-saving-sukuk-program-starts-plus-supply-chains-infrastructure-manufacturing\/\">\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\/2024\/02\/05\/subscription-for-new-retail-saving-sukuk-program-starts-plus-supply-chains-infrastructure-manufacturing\/&title=Subscription for new retail saving sukuk program starts. PLUS: Supply chains, infrastructure, manufacturing\">\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=Subscription+for+new+retail+saving+sukuk+program+starts.+PLUS%3A+Supply+chains%2C+infrastructure%2C+manufacturing+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F05%2Fsubscription-for-new-retail-saving-sukuk-program-starts-plus-supply-chains-infrastructure-manufacturing%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\/2024\/02\/05\/subscription-for-new-retail-saving-sukuk-program-starts-plus-supply-chains-infrastructure-manufacturing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83082\" class=\"content-area-description single-story post-83082 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-aramco tag-bahri tag-commerce-ministry tag-dawiyat tag-enterpriseam-ksa tag-group-five-pipe tag-hunter-industries tag-jeddah-al-thaniyah tag-marafiq tag-nesma-partners tag-saudi-drip-irrigation tag-saudi-water-partnership-company tag-space-and-technology-commision tag-sukuk tag-sure-global-tech tag-telecoms 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\/2\/.26e7fcbf-f2bb-40d2-a394-f915cf74ff37.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">RETAIL SUKUK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The first issuance of the Finance Ministry and National Debt Management Center\u2019s <\/strong><strong>(NDMC) new retail saving sukuk program will carry a 5.64% fixed <\/strong><strong>annual yield<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1702371\" style=\"\" rel=\"noopener\">Argaam<\/a> reports. Subscriptions in the February issuance started yesterday and will wrap up tomorrow. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> The ministry and NDMC <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f48dabdb-e452-4158-b309-db4206855136\" style=\"\" rel=\"noopener\">launched<\/a> this shariah-compliant retail saving instrument in a bid to diversify the nation\u2019s savings offerings. The program will feature monthly issuances carrying annual fixed yields. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SUPPLY CHAINS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>National shipping company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bahri.sa\/\" style=\"\" rel=\"noopener\">Bahri<\/a><\/strong><strong>has inked an MoU with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.boeing-me.com\/en\/boeing-in-saudi-arabia\" style=\"\" rel=\"noopener\">Boeing Saudi<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.boeing-me.com\/en\/boeing-in-saudi-arabia\" style=\"\" rel=\"noopener\">Arabia<\/a><\/strong><strong> to expand cooperation in supply chain and distribution<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.bahri.sa\/en\/news-insights\/news-insight\/2024\/boeing-bahri-logistics-sign-a-strategic-mou-to-enhance-supply-chain-activities-in-saudi-arabia\/\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The two firms will use Bahri\u2019s existing supply chain avenues here to collaborate in freight forwarding, warehousing, inventory management, and performance-based logistics consulting. The move aims to boost supply chain efficiency, particularly for the Kingdom\u2019s defense sector. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Marafiq<\/strong><strong> has completed its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.marafiq.com.sa\/en\/about-us\/services\/waste-water\/jeddah-waste-water-treatment-development-phase\/\" style=\"\" rel=\"noopener\">sewage treatment plant<\/a><\/strong><strong> in Jeddah <\/strong>and received approval from the Saudi Water Partnership Company to begin commercial operation, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/8jf8ebus\" style=\"\" rel=\"noopener\">it said in a statement to Tadawul<\/a>. The plant will allow Jeddah Althaniya Water Company \u2014 Marafiq\u2019s JV with Alamwal Al Khaleejiah Al Thaniya and Veolia Middle East \u2014 to treat wastewater at a capacity of 300k cubic meters per day. The agreement is set to run for 25 years from October 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Group Five Pipe will manufacture and supply tailored steel pipes to Aramco<\/strong> after signing a two-month SAR 30 mn contract, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/bdzynr8d\" style=\"\" rel=\"noopener\">it said in a statement to Tadawul<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Saudi Drip Irrigation has renewed a five-year contract with US-based irrigation <\/strong><strong>equipment manufacturer Hunter Industries<\/strong>, Saudi Drip mother company Mayar Holding said in <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/4y7mts5t\" style=\"\" rel=\"noopener\">a statement to Tadawul<\/a>. The agreement will see Saudi Drip manufacture Hunter-Industries-branded irrigation systems that can be used for agricultural, residential, commercial, and golf courses. The company will also manufacture energy-saving solutions for irrigation systems as well as distribution technology for Hunter Industries. No details were provided on the value of the agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.sure.com.sa\/\" style=\"\" rel=\"noopener\">Sure Global Tech<\/a><\/strong><strong> has landed a SAR 16.3 mn contract from the Commerce Ministry to <\/strong><strong>develop and operate a <\/strong><strong>mechanism to <\/strong><strong>track the circulation of goods in the local market<\/strong>, the company said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoIwEEW_xQVbZnwU0R1GxfiIKDFgN6ZorSTQEqwS_96qK42v2c3MuXduBijEQCU7p4LpVEmWmX5NnQ3xHGyMXJz7w8YAF8NOb9Ef-HWctCB6BjAMiAGCWXOKS_TRAfqPHj-Uh7_19Cvit1-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!\/\" style=\"\" rel=\"noopener\">filing<\/a> to Tadawul yesterday. The IT services providers will also develop systems to monitor product availability, flagging shortages and surpluses. The project runs for 24 months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A WATCH<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nesma completes<\/strong><strong> acquisition of Dubai-based energy firm Kent:<\/strong> Local contractor Nesma & Partners has fully acquired Dubai-based energy services provider <a target=\"_blank\" href=\"https:\/\/kentplc.com\/news-insights\/kent-strengthens-board-of-directors-following-the-completion-of-its-acquisition-by-nesma-partners\" style=\"\" rel=\"noopener\">Kent<\/a>,, according to a <a target=\"_blank\" href=\"https:\/\/www.nesmapartners.com\/pressrelease\" style=\"\" rel=\"noopener\">press release<\/a>. Kent had been backed by private equity firm Bluewater since 2015, which helped Kent grow its revenues from USD 200 mn to USD 1.4 bn, according to a <a target=\"_blank\" href=\"https:\/\/www.bluewaterpe.com\/news\/bluewater-completes-sale-of-global-engineering-firm-kent-to-nesma-partners\/\" style=\"\" rel=\"noopener\">statement<\/a>. No financial details on the transaction have been disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kent\u2019s BOD is getting a makeover:<\/strong> While Kent\u2019s structure and services will continue to operate as a stand-alone entity under the agreement, its board of directors will undergo some changes as new members replace shareholders from Bluewater. The company will bring on former McKinsey senior partner and tech transformation expert Driek Desmet, energy transition expert Gary Parke, and Nesma & Partners President and CEO Samer Abdul Samad, the company <a target=\"_blank\" href=\"https:\/\/kentplc.com\/news-insights\/kent-strengthens-board-of-directors-following-the-completion-of-its-acquisition-by-nesma-partners\" style=\"\" rel=\"noopener\">announced<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TELECOMS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Faster internet services courtesy of Dawiyat? <\/strong><a target=\"_blank\" href=\"https:\/\/www.dawiyat.com.sa\/english\/Default.aspx\" style=\"\" rel=\"noopener\">Dawiyat Integrated<\/a> \u2014 a subsidiary of the Saudi Electricity Company \u2014 has secured a license from the Communications, Space and Technology Commission (CST) to build, operate and maintain cable landing stations (CLS) and international cable capacities, it said in <a target=\"_blank\" href=\"https:\/\/twitter.com\/DAWIYAT\/status\/1753824142107804148\" style=\"\" rel=\"noopener\">a statement<\/a> yesterday. The company\u2019s CLS will help provide high-speed internet to local and international clients, it said. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/bahri\/\">Bahri<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/commerce-ministry\/\">Commerce Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/dawiyat\/\">Dawiyat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/group-five-pipe\/\">Group Five Pipe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hunter-industries\/\">Hunter Industries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/jeddah-al-thaniyah\/\">Jeddah Al Thaniyah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/marafiq\/\">Marafiq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                 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-->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sure-global-tech\/\">Sure Global Tech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/telecoms\/\">telecoms<\/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=\"83083\" 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=\"83083\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/chinas-fresh-promises-to-rejuvenate-its-faltering-stock-market-may-not-be-enough\/\">\r\n                            China\u2019s fresh promises to rejuvenate its faltering stock market may not be enough                        <\/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\/2024\/02\/05\/chinas-fresh-promises-to-rejuvenate-its-faltering-stock-market-may-not-be-enough\/\" 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href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/chinas-fresh-promises-to-rejuvenate-its-faltering-stock-market-may-not-be-enough\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/254.JPG?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83084\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/05\/chinas-fresh-promises-to-rejuvenate-its-faltering-stock-market-may-not-be-enough\/254-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/254.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"254.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/254.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/254.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83083\" class=\"content-area-description single-story post-83083 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-china tag-enterpriseam-ksa tag-financial-markets tag-planet-finance 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\/2\/.26e7fcbf-f2bb-40d2-a394-f915cf74ff37.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Investors seem to be giving up on China\u2019s stock market:<\/strong> Over 40% of investors surveyed at a Goldman Sachs conference in Hong Kong last week think that Chinese equities are \u201cuninvestable,\u201d despite authorities vowing \u201cforceful\u201d measures to stabilize its falling stock market, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/88c027d2-bda6-4e52-97f3-127197aef1bd\" style=\"\" rel=\"noopener\">Financial Times<\/a> reported yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The measures:<\/strong> The country\u2019s Securities Regulatory Commission said on Sunday that it would introduce more medium- and long-term funds and would crack the whip on short selling and insider trading. This came two days after the benchmark CSI 300 fell 3.4%, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-04\/china-vows-to-prevent-abnormal-market-fluctuations-csrc-says?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> wrote. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Triggering the sell off:<\/strong> Chinese and Hong Kong stocks <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/business-68125359\" style=\"\" rel=\"noopener\">have shed USD 6 tn in value<\/a> since their peak in February 2021 amid the country\u2019s economic slowdown, spiraling property crisis, and cooler relations with the US. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leading Asian benchmarks are in the red in early trading this morning <\/strong>as traders digest worries about Chinese stocks and Jay Powell\u2019s remarks that the Fed will be <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-05\/powell-tells-60-minutes-fed-likely-to-wait-beyond-march-to-cut?srnd=premium-middle-east&sref=mmeFTDW1\" style=\"\" rel=\"noopener\">\u201ccautious\u201d<\/a> when it comes to rate cuts. They\u2019re also looking forward to the Luna New Year holiday, which runs 10-17 February \u2014 and which often sees retail investors sell down positions to have more cash available for the break. Futures suggest stocks on Wall Street and in Europe will follow suit at the opening bell later today. <\/p>\n<p><a target=\"_blank\" id=\"t.d319cbc3daaba4c162fdb031d6feb00ae38bfe5a\" 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\">11,962.72<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: -0.04%)<\/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\">1,553.52<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +0.2%)<\/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 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">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\">27,573.50<\/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% (YTD: +10.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,456.25<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: -1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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:1.0;orphans:2;widows:2;text-align:left\">4,228.74<\/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: +4.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&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\">4,958.61<\/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\">+1.1% (YTD: +4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,615.54<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: -1.5%)<\/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>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\">4,654.55<\/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: +2.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">77.33  <\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/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\">2.08<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">2,053.70<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">42,579.46<\/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% (YTD: +81.6%)<\/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 0.4% yesterday<\/strong> on turnover of SAR 4.8 bn. The index is down 0.04% 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>MBC Group (+9.8%), Chemical (+9.5%) and Saudi German Health (+5.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Ades (-2.9%), Atheeb Telecom (-2.5%) and Arabian Drilling (-2.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ataa Educational shareholders are getting their SAR 1.1 \/ share dividends in their bank <\/strong><strong>accounts<\/strong>starting Sunday, 11 February, the company said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWhEQ3WFUjI-IEgPOxgw6jiQwQ3CU-PeOutL46q7tubc3BQIJEEHPGacqk4Lmul8Td-P4LlojD-fB0BrgYtjpLfqDoIkTG-JnAKPQ0UA4a01xiQG6QP7R44fy8beefEWC9ivwJuId-JJhDITnMn38wxdpy-NAKrZnFavMU6XHB6XKY9dAA-u6NrmUPGfmVhYGvpMc5FFB8kzeuJvL3UTRHa1PuVYTvSqpuESXIpX6kG11LIiYgLJYJZiFRewpJ7X9xhVc_xen\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODA3OC9jb21wYW55U3ltYm9sLzQyOTIvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Maharah Human Resources\u2019 EGM approved lowering the stock\u2019s nominal value to SAR 1 <\/strong>from SAR 10 as per its board\u2019s recommendation. The move brings the company\u2019s total number of shares to 475 mn from 47.5 mn, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyNDC2FC_IDc0wiAzIDfcUVERAOTAOAU!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODA3NC9jb21wYW55U3ltYm9sLzE4MzEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alkhabeer Diversified Income Traded Fund will distribute dividends of SAR 0.29 per unit<\/strong>for the July-December period, it said in a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/5998e5nc\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83085\" 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\/2024\/02\/05\/83085\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83085\" class=\"content-area-description single-story post-83085 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;\">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>4-8<\/span><span> February (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worlddefenseshow.com\/\" style=\"\">World Defence Show<\/a><\/span><span>, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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>6<\/span><span> February (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bondsloans.com\/events\/capital-markets\" style=\"\">Capital Markets & ESG Finance Saudi Arabia 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;\">8 February (Thursday): end of Tuwaiq International Sculpture Symposium, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-10 February (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-championship.samf.gov.sa\/t-en\/saudibaja24\" style=\"\">Hail Toyota International Rally<\/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>9 February- 23 March (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/desertx.org\/\" style=\"\">Desert X ALUla<\/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:400;\">10-14 February (Saturday-Wednesday): Filipino exporters will be in town for a business-matching tour.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10 February (Saturday): Last day to apply for permits to lease properties to pilgrims during Hajj season.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11- 12 February (Sunday-Monday): The Space Debris Conference, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/saudispace\/status\/1741860340994814346?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1741860340994814346%7Ctwgr%5E7da01bd587d268c0286583ff0303145c4dbd6624%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.arabnews.com%2Fnode%2F2434966%2Fbusiness-economy\" style=\"\">Securing the Future Growth of the Global Space Economy<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-14 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>19 February (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.chamber.org.sa\/sites\/Arabic\/Events\/ChamberEvents\/Pages\/ChamberEventDetails.aspx?Title=%D8%A7%D9%84%D9%85%D9%86%D8%AA%D8%AF%D9%89%20%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%202024%20%22%D9%85%D8%B3%D8%AA%D9%82%D8%A8%D9%84%20%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84%22%E2%80%8B\" style=\"\">The Future of Business 2024 Forum<\/a><\/span><span style=\"font-weight:400;\">, Eastern Chamber\u2019s HQ, Dammam.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-20 February (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.scmf.events\/\" style=\"\">Saudi Capital Market Forum<\/a><\/span><span style=\"font-weight:400;\">, King Abdullah Financial District, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-21<\/span><span> February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/makkahexpo.net\/?gad_source=1&gclid=CjwKCAiAiP2tBhBXEiwACslfnruKTMcAHDqylAy66Bj3KRwO-K2oMAttWtMYpsWn--hZwkSrH_4a5xoCv80QAvD_BwE\" style=\"\">Makkah Expo for Hotels and Restaurants<\/a><\/span><span style=\"font-weight:400;\">, Makkah. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 February-24 May (Tuesday-Friday)<\/span><span>: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/biennale.org.sa\/contemporary-art-biennale-2024\/\" style=\"\">Diriyah Contemporary Art Biennale<\/a><\/span><span style=\"font-weight:400;\">, Diriyah.<\/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<\/span><span> February (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/otsecsummit.com\/\" style=\"\">OTSEC Summit<\/a><\/span><span style=\"font-weight:400;\">, Dammam. <\/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 SAUD<\/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>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>14-21 April (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/FutureMeetings.html\" style=\"\">IMF and World Bank spring meetings<\/a><\/span><span style=\"font-weight:400;\">, Washington, DC<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-29 April (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.weforum.org\/press\/2024\/01\/annual-meeting-2024-rebuilding-trust-amid-uncertainty\/#:~:text=The%20Forum%20announced%20it%20will,29%20April%202024%20in%20Riyadh.\" style=\"\">World Economic Forum\u2019s Special Meeting<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29 April-1 May: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futurehospitality.com\/sa\" style=\"\">Future Hospitality Summit<\/a><\/span><span style=\"font-weight:400;\"> at Al Faisaliah Hotel, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">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>30 June (Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1187.aspx\" style=\"\">ZATCA<\/a><\/span><span>tax exemption scheme expires<\/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;\">AUGUST<\/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;\">12-15 August (Monday-Thursday): The Saudi Food Expo, 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;\">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\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>Cenomi wraps Sahara Plaza sale | New real estate regs | Easier to get SME loan guarantees<\/p>\n","protected":false},"featured_media":83065,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-83064","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"cf5b91b8-98b7-4633-a6c9-2aeb4fa2d7a7","teaser":"Cenomi wraps Sahara Plaza sale | New real estate regs | Easier to get SME loan guarantees","photo_url":"https:\/\/ent.news\/2024\/2\/265.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Blinken is inbound + it\u2019s a big week for the defense industry - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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