{"id":83243,"date":"2024-02-08T00:00:00","date_gmt":"2024-02-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=83243"},"modified":"2025-12-14T17:20:45","modified_gmt":"2025-12-14T17:20:45","slug":"savola-to-offload-almarai-eyes-ipo-for-panda-as-it-aims-to-focus-on-fresh-growth","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/savola-to-offload-almarai-eyes-ipo-for-panda-as-it-aims-to-focus-on-fresh-growth\/","title":{"rendered":"Savola to offload Almarai, eyes IPO for Panda as it aims to focus on fresh growth"},"content":{"rendered":"<section id=\"83245\" 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=\"83245\">\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\/08\/is-aramco-closing-in-on-indian-investments\/\">\r\n                            THIS MORNING: Is Aramco closing in on Indian investments?                        <\/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\/08\/is-aramco-closing-in-on-indian-investments\/\" target=\"_blank\">\n                    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data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/is-aramco-closing-in-on-indian-investments\/2784-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2784.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2784.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2784.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2784.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83245\" class=\"content-area-description single-story post-83245 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-aramco tag-enterpriseam-ksa tag-india tag-mohammed-bin-salman tag-oil tag-trade tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.01a83d5c-7288-49de-90f8-bd6ef5ff50dd.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends, and happy Thursday to you all. <\/strong>We have a blockbuster issue for you this morning, leading off with news that Savola is divesting Almarai (where its investment is up >100x since it first bought into the dairy giant) to focus on fresh growth going forward. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have the rundown on Savola, the latest on IPOs by Modern Mills and Avalon, a wrapup of the PIF\u2019s private-sector conference \u2014 and more \u2014 in this morning\u2019s news well, below. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Up first:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- Oil giant Aramco is in talks with Indian firms on potential investments<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-aramco-investment-discussions-with-indian-companies-exec-2024-02-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported yesterday, citing statements by Aramco\u2019s Senior VP Faisal Al Faqeer during India Energy Week in Goa. \u201cHopefully we will see some announcements soon on investment in Indian companies,\u201d he said, without providing further details on the investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India is the world\u2019s third-largest importer and consumer of oil<\/strong> and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/india-wants-saudi-aramco-develop-strategic-petroleum-reserve-ties-strengthen-2023-10-11\/\" style=\"\" rel=\"noopener\">has been pushing<\/a> for years to bring Aramco on side for its planned strategic reserve program. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- Some of the Kingdom\u2019s fresh produce will be making its way to Europe.<\/strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/davaagr\/\" style=\"\" rel=\"noopener\">Dava Agricultural<\/a> signed a first-of-its kind agreement with Dutch fruit and vegetable trader <a target=\"_blank\" href=\"https:\/\/www.lehmann-troost.nl\/en\/\" style=\"\" rel=\"noopener\">Lehmann & Troost<\/a> to sell vegetable crops grown through hydroponic farming to the Netherlands and beyond in Europe, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2042774\" style=\"\" rel=\"noopener\">SPA<\/a> reported yesterday. The surplus produce includes tomatoes, cherry tomatoes and bell peppers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hydroponic farming? <\/strong>It is a farming technique where plants are grown using water-based mineral nutrient solutions rather than soil. It helps provide fresh produce in regions with extreme drought and low soil quality.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Bahrain\u2019s Crown Prince Salman bin Hamad Al Khalifa was in town for talks with Crown <\/strong><strong>Prince and Prime Minister Mohammed bin Salman<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2043608\" style=\"\" rel=\"noopener\">SPA<\/a> reported yesterday. They two chaired the Saudi-Bahraini Coordination Council and inked a number of MoUs in energy, economy, and capital markets.<\/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 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>As has been the case most of this week, there\u2019s no single big story abroad <\/strong>that has captured the imaginations of the business or mainstream press. Among the stories you need to know about this morning \u2014 or might simply find interesting:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Republican Nikki Haley lost to \u201cnone of these candidates\u201d<\/strong> in what the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/02\/07\/us\/politics\/haley-trump-republican-electoral-math.html\" style=\"\" rel=\"noopener\">New York Times<\/a> calls an \u201cirrelevant\u201d Nevada primary, but she\u2019s still staying in the race in a bid to \u201cbroaden voters\u2019 imagination of what\u2019s possible, both for her prospects in the 2024 Republican presidential primary, and for the nation.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>The S&P hit a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/02\/06\/stock-market-today-live-updates.html\" style=\"\" rel=\"noopener\">record high<\/a><\/strong>as strong earnings continued and tech stocks rallied. Among those reporting earnings: <strong>Uber posted an operating profit for the first time <\/strong>on <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7a333873-b860-4139-82db-4517eb7ddcd2\" style=\"\" rel=\"noopener\">a full-year basis<\/a> (you can check out its <a target=\"_blank\" href=\"https:\/\/www.businesswire.com\/news\/home\/20240207898706\/en\/Uber-Announces-Results-for-Fourth-Quarter-and-Full-Year-2023\" style=\"\" rel=\"noopener\">earnings<\/a> here).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Cairo is playing host today to a fresh round of ceasefire talks<\/strong>, but Israeli PM Benjamin Netanyahu tried to pour cold water on the conversation, dismissing Hamas\u2019 goal of a long ceasefire as <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/316fb086-d9c5-4923-9ffb-6004ea4fd356\" style=\"\" rel=\"noopener\">\u201cdelusional.\u201d<\/a> US Secretary of State Antony Blinken is still <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-blinken-pushes-pause-gaza-war-allow-aid-regional-integration-2024-02-07\/\" style=\"\" rel=\"noopener\">pushing Israel to play ball<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MORNING DISTRACTIONS-<\/strong><\/p>\n<ul>\n<li><strong>Finance meme lord Litquidity is a 32-year-old former banker named Hank Medina <\/strong>who did time at Jeffries and Deutsche Bank. Medina sat down for his first-ever interview courtesy the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7305bc73-304e-4771-95b1-47558976f3c8\" style=\"\" rel=\"noopener\">Financial Times<\/a>. Don\u2019t know him? <a target=\"_blank\" href=\"https:\/\/www.instagram.com\/litquidity\/?hl=en\" style=\"\" rel=\"noopener\">Check out his IG<\/a>. <\/li>\n<li><strong>Aussie businesses that call or email employees after hours could face penalties <\/strong>under proposed legislation that would give staff the right to \u201crefuse to monitor, read or respond to contact, or attempted contact, from an employer outside of the employee\u2019s working hours unless the refusal is unreasonable.\u201d (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-08\/australian-workers-will-get-right-to-disconnect-under-new-law\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Exports declined 15.6% y-o-y to SAR 95 bn in November 2023 due to a 19.4% decrease in <\/strong><strong>oil sales<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/673.pdf\" style=\"\" rel=\"noopener\">a Gastat report (pdf)<\/a>. Non-oil exports fell 0.7% y-o-y to SAR 22.6 bn in the same period. Meanwhile, imports rose 3.7% y-o-y to SAR 67 bn in November 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\"> CIRCLE YOUR CALENDAR-<\/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\"><a id=\"wwtt5\"><\/a> <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>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 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/fii-institute.org\/\" style=\"\" rel=\"noopener\">Future Investment Initiative (FII)<\/a><\/strong><strong> will host a two-day<\/strong><strong>priority summit in Miami <\/strong>startingThursday, 22 February. <\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/india\/\">India<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mohammed-bin-salman\/\">Mohammed bin Salman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil\/\">Oil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83247\" 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=\"83247\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/savola-looks-to-offload-almarai-raise-sar-6-bn-in-fresh-capital-to-focus-on-fresh-growth\/\">\r\n                            Savola looks to offload Almarai, raise SAR 6 bn in fresh capital to focus on new growth opportunities                        <\/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\/08\/savola-looks-to-offload-almarai-raise-sar-6-bn-in-fresh-capital-to-focus-on-fresh-growth\/\" 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 food and retail investment group made the blockbuster announcement 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_xQVbWlEQ3WFUjI8IEiPOxgw6jiQwQ3CU8PeOutL46q7tubc3BQIxEEEvKacqlYJmut8QZ2t7DlpjFxf-yBpiOOr2w8HQb-K0DetnAKPA1kAwb81wiT46QP7R44fy8LeefEX8zivwJuId-JJhAoRnMnn8wxNJy-VASnZgJSvNc6nHR6WKU89AA6uqMrmUPGPmTuYGvpMc5UlB_EzeuJvL3UTRPa3OmVYTvSqoqKM6T6Q-ZKGNEDEBRb6KMQ3ytavspO01rsB0Qjs!\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODE0MS9jb21wYW55U3ltYm9sLzIwNTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">Tadawul disclosure<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/703.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a> yesterday. It also <a target=\"_blank\" href=\"https:\/\/www.savola.com\/en\/right-issue-and-distribution\/overview\" style=\"\" rel=\"noopener\">unveiled a website<\/a> to explain the transaction.<\/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.savola.com\/en\" style=\"\" rel=\"noopener\">Savola Group<\/a><\/strong><strong> plans to offload its full 34.5% stake in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.almarai.com\/en\" style=\"\" rel=\"noopener\">Almarai<\/a><\/strong>, the region\u2019s largest dairy outfit. It is Almarai\u2019s biggest shareholder, followed by the Public Investment Fund, which holds a <a target=\"_blank\" href=\"https:\/\/enterprise.press\/stories\/2023\/02\/23\/almarai-now-owns-100-of-beyti-97678\/\" style=\"\" rel=\"noopener\">16%<\/a> stake through one of its units. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The divestment of Almarai will be a three-step process <\/strong>requiring regulatory approvals and shareholder votes at each turn. It wants to first raise SAR 6 bn through a rights issue to existing shareholders, then reduce its capital before distributing its Almarai shares to shareholders. <strong>In simpler terms: <\/strong>\u201cYou give me SAR 6 bn, then I\u2019ll give you my stake in Almarai.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Savola is careful to point out that Almarai \u201chas been one of the most successful <\/strong><strong>investments for Savola Group to date.\u201d <\/strong>It says the value of its investment in the dairy giant is up more than 100x since it invested back in 1991. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Savola wants to \u201cunlock value\u201d <\/strong>\u2014 it doesn\u2019t think the market fairly values what it does or what Almarai does, writing in an FAQ that \u201cover the past years, Savola\u2019s market capitalization is approximately equal to the market value of its stake in Almarai.\u201dFor folks who like Almarai\u2019s story, it\u2019s a way to get direct exposure. And if you like Savola, buying Savola stock gives you direct exposure to its future growth prospects and starts to do away with the so-called \u201cholding company discount.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are those growth prospects? <\/strong>Savola is being cautious, but says it will use the proceeds from the rights issue to pay down debt and \u201cinvest in the growth of its portfolio companies.\u201d Savola says that it doesn\u2019t need the transaction to go through to meet its debt obligations. Look for it to deleverage before taking on fresh cash at optimized terms to fund its growth going forward. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why should you like Savola shares after it sheds Almarai?<\/strong> The group is nicely diversified with FMCG operations across Saudi, the Middle East, North Africa and Turkey \u2014 and it\u2019s looking to grow both organically and through M&A. It distributes food across 50 countries and has a portfolio of investments spanning <a target=\"_blank\" href=\"https:\/\/www.savola.com\/en\/investments\/food-investments\" style=\"\" rel=\"noopener\">consumer foods<\/a> and <a target=\"_blank\" href=\"https:\/\/www.savola.com\/en\/investments\/savola-retail\" style=\"\" rel=\"noopener\">retail<\/a> (Panda and Herfy) <a target=\"_blank\" href=\"https:\/\/www.savola.com\/en\/investments\/other-investments\" style=\"\" rel=\"noopener\">as well as real estate, venture capital, and other sectors<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHAT THEY SAID:<\/strong> Savola Group Chairman Sulaiman Al-Muhaidib said, \u201cThis unique transaction comes at an exciting moment in our four-decade history \u2026 The distribution of our stake in Almarai will provide our shareholders with direct exposure to one of the region\u2019s most loved and trusted food brands. Going forward, we will focus on investing in the growth of our core food and retail businesses, while continuing to <strong>review strategic options to realize value from portfolio companies that demonstrate attractive distribution and monetization potential<\/strong>.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Savola reported strong growth in profitability<\/strong> for FY 2023. We have the story in this morning\u2019s Earnings Watch, below. <\/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\">PANDA IPO?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Savola is separately exploring the potential IPO of retailer Panda<\/strong>, saying the company has shown a \u201chealthy recovery in profitability\u201d after a recent store overhaul. Panda is now looking to grow both its brick-and-mortar and digital sales footprints. Panda is the largest grocery retailer in the Kingdom, operating supermarkets, hypermarkets, and distribution centers. It serves over 95 mn customers per year, according to its <a target=\"_blank\" href=\"https:\/\/panda.com.sa\/about-us\" style=\"\" rel=\"noopener\">website<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong>Savola\u2019s share price fell 3.9% to SAR 46.20 apiece on yesterday\u2019s close, whileAlmarai\u2019s share price declined 1% to SAR 59.00 per share. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Savola said in <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-oyMjA1EC_IDc0wiAzIDfcUVERAKsxRJo!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83NjI5OC9jb21wYW55U3ltYm9sLzIwNTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">October 2023<\/a> that it has hired Moelis & Co. to advise on the prospects of selling its share in Almarai.<\/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\/almarai\/\">Almarai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment\/\">Investment<\/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\/panda\/\">Panda<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/savola\/\">Savola<\/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=\"83249\" 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=\"83249\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/modern-mills-has-filed-to-sell-a-30-stake-on-tadawul\/\">\r\n                            Modern Mills Co. has filed to sell a 30% stake on Tadawul                        <\/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\/08\/modern-mills-has-filed-to-sell-a-30-stake-on-tadawul\/\" 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\/08\/modern-mills-has-filed-to-sell-a-30-stake-on-tadawul\/')\">\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\/08\/modern-mills-has-filed-to-sell-a-30-stake-on-tadawul\/\">\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=Modern Mills has filed to sell a 30% stake on Tadawul&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/modern-mills-has-filed-to-sell-a-30-stake-on-tadawul\/\">\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\/08\/modern-mills-has-filed-to-sell-a-30-stake-on-tadawul\/&title=Modern Mills has filed to sell a 30% stake on Tadawul\">\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=Modern+Mills+has+filed+to+sell+a+30%25+stake+on+Tadawul+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F08%2Fmodern-mills-has-filed-to-sell-a-30-stake-on-tadawul%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\/08\/modern-mills-has-filed-to-sell-a-30-stake-on-tadawul\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/701.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83250\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/modern-mills-has-filed-to-sell-a-30-stake-on-tadawul\/701-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/701.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"701.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/701.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/701.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83249\" class=\"content-area-description single-story post-83249 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-avalon-pharma tag-enterpriseam-ksa tag-fourth-milling-company tag-ipo tag-ipo-watch tag-modern-mills 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\/.f9f7aeff-36a8-4d17-9b96-55f90d940465.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Our IPO roundup this morning includes news that Modern Mills is looking to go public <\/strong>as well as updates on a main market share sale by Avalon Pharma. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New day, new milling IPO: <\/strong>The Modern Mills Company (MMC) plans to offer a 30% stake on Tadawul\u2019s main market, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/612.pdf\" style=\"\" rel=\"noopener\">regulatory filing (pdf)<\/a> yesterday. Modern Mills, previously known as Milling Company 3, has received Capital Market Authority <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/NEWS\/Pages\/CMA_N_3466.aspx\" style=\"\" rel=\"noopener\">for the offering<\/a>, which will see it sell some 24.5 mn shares. <\/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 IPO is open to both institutional and individual investors, MMC said, with a final price for the offering set to be determined after the completion of the book-building process. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is a secondary sale: <\/strong>Selling shareholders will own a combined 69% of Modern Mills after the transaction. They include Mada International Holding, Al Ghurair Foods Company, and Masafi Company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MMC by the numbers: <\/strong><\/p>\n<ul>\n<li><strong>Revenues<\/strong> of SAR 452 mn in 1H 2023 and SAR 978 mn FY 2022;<\/li>\n<li><strong>EBITDA<\/strong> margin of 33%<\/li>\n<li><strong>24% share of the domestic flour market<\/strong> (by volume) in FY 2022, with 46% y-o-y volume growth. That makes it the market\u2019s largest player;<\/li>\n<li><strong>The largest production capacity<\/strong> among the four state-owned millers that are now being privatized<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth strategy: New products and exports.<\/strong> MMC is looking to invest in its infrastructure to take more share of the flour and flour-derivatives market. It is also looking at new products and what related categories it can push into. It\u2019s also looking to step up flour exports and expand its animal feed sales beyond the Gulf to global markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All part of a wave of privatization + IPO bonanza for the milling firms: <\/strong>MC3 is among one of several state-owned flour milling firms that were sold to the private sector by the government in recent years under its privatization scheme for the industry. It <a target=\"_blank\" href=\"https:\/\/www.ncp.gov.sa\/en\/MediaCenter\/News\/Pages\/Privatization_-Flour_Milling.aspx\" style=\"\" rel=\"noopener\">was sold<\/a> to a consortium of investors for SAR 750 mn in 2020. Since then, the milling firms have sought share sales, with First Milling <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/idUSL4N37R1NS\/\" style=\"\" rel=\"noopener\">going public<\/a> in May with a USD 266 mn IPO.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to go deeper?<\/strong> Check out Modern Mills\u2019 <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/704.pdf\" style=\"\" rel=\"noopener\">intention to float (pdf)<\/a> or <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/705.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a> or <a target=\"_blank\" href=\"https:\/\/ipo.modernmills.com.sa\/home-en\" style=\"\" rel=\"noopener\">visit the IPOo website<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- HSBC Saudi Arabia<\/strong> is quarterbacking the transaction as sole financial advisor, joint bookrunner and underwriter alongside <strong>Emirates NBD Capital KSA<\/strong>. <strong>Moelis & Company <\/strong>Saudi will act as advisor to selling shareholders, while <strong>Al Rajhi Bank<\/strong> and <strong>Saudi National Bank <\/strong>are receiving agents for individual investors.<\/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\">WILL MC4 IPO SOON?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another milling firm IPO-ing soon?<\/strong> The Fourth Milling Company (MC4) has recently tapped Riyadh Capital as its financial advisor for an IPO in Tadawul, Bloomberg reported last month, with sources saying that the offering could happen in the first half of this year. <\/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\">AVALON PHARMA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Retail offering in drugmaker Avalon Pharma\u2019s IPO was 54.3 oversubscribed <\/strong>with demand totalling c. SAR 2.7 billion, it <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/620.pdf\" style=\"\" rel=\"noopener\">said in a statement (pdf)<\/a> yesterday, after the subscription period wrapped up earlier this month. This comes after institutional the offering was 138.7x oversubscribed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The final price for the offering was set at SAR 82 per share<\/strong>, valuing the drugmaker at SAR 1.6 bn at listing, it said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bankers have yet to say when Avalon shares will start trading. <\/strong><a target=\"_blank\" href=\"https:\/\/ipo.avalonpharmaceutical.com\/\" style=\"\" rel=\"noopener\">You can check out the IPO<\/a><a target=\"_blank\" href=\"https:\/\/ipo.avalonpharmaceutical.com\/\" style=\"\" rel=\"noopener\">microsite here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong><strong> Aldukheil Financial Group (AFG) <\/strong>is quarterbacking the transaction as financial advisor and bookrunner,<strong> Alinma Investment<\/strong> is lead manager and underwriter, <strong>Alinma Bank <\/strong>and <strong>SNB<\/strong> are receiving agents, and <strong>Mohammed Al-Dabaan and Partners<\/strong> is the legal advisor. <strong>KPMG<\/strong> is the financial auditor while <strong>Pwc<\/strong> is the financial due diligence advisor, and <strong>Euromonitor <\/strong>International is acting as market advisor.<\/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\/avalon-pharma\/\">Avalon Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fourth-milling-company\/\">Fourth Milling Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo\/\">IPO<\/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\/modern-mills\/\">Modern Mills<\/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=\"83251\" 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=\"83251\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/saudi-electricity-wraps-up-an-fcy-sukuk-sale\/\">\r\n                            Saudi Electricity raises USD 2.2 bn in a dual-tranche sukuk offering                        <\/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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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2232.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83252\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/saudi-electricity-wraps-up-an-fcy-sukuk-sale\/2232-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2232.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2232.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2232.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2232.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83251\" class=\"content-area-description single-story post-83251 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-bank-of-china tag-capital tag-debt-watch tag-dubai-islamic-bank tag-enterpriseam-ksa tag-first-abu-dhabi-bank tag-kfh-capital-investment tag-mashreq-bank tag-saudi-electricity-company tag-sukuk 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\/.303f985f-3ef6-4a28-8702-4328c6dc1260.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi Electricity has raised USD 2.2 bn from the sale of dual-tranche unsecured senior <\/strong><strong>sukuk<\/strong>, 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\/jZDLDoJADEW_xQVbWlQQ3WFEjI-IEiPOxgw6jiQwQ3CU-PeOusL46q7tubc3BQIxEEEvKacqlYJmut8QZ2t7DjZHLs6DYdPHxbDbXwz8wMJJG9Z1AKPQ1kA4a01xiQE6QP7R44fy8LeefEWCzivwJuID-JJhDIRnMnn-wxNJy-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!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The sukuk will be listed on the London Stock Exchange (LSE). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Breaking it down: <\/strong>It raised USD 800 mn from a five-year tranche offering a fixed annual yield of 4.9% and another USD 1.4 bn from a ten-year tranche at a fixed annual rate of 5.2%. The issuance went to market through a special purpose vehicle (SPV).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The sale is part of a USD-denominated green and \/ or conventional <a target=\"_blank\" href=\"https:\/\/www.se.com.sa\/en\/News\/Shareholders\/ArticleFolder\/2023\/05\/26\/13\/27\/Shareholders1131\" style=\"\" rel=\"noopener\">sukuk<\/a><a target=\"_blank\" href=\"https:\/\/www.se.com.sa\/en\/News\/Shareholders\/ArticleFolder\/2023\/05\/26\/13\/27\/Shareholders1131\" style=\"\" rel=\"noopener\">program<\/a> kicked off in March of 2023 and is open to qualified international and local investors. The program raised <a target=\"_blank\" href=\"https:\/\/www.se.com.sa\/en\/Investors\/Column2\/Debt-Investors\/Sukuk-Issuances\" style=\"\" rel=\"noopener\">USD 2<\/a> bn before this most recent sale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The proceeds will both finance capex spending and, possibly, green projects<\/strong>, the company\u2019s website says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- SEC tightened its yield as demand grew: <\/strong>It <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/c645f526-16c0-4b95-ab90-cedcbc6bb1ef\/Rafa,-Djokovic,-Medvedev-among-tennis-greats-to-clash-in-Riyadh-this-October\" style=\"\" rel=\"noopener\">trimmed the yield<\/a> for its FCY sukuk issuance after receiving over USD 11 bn in orders, during a roadshow for the sale <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZFPj4IwEMU_yx682gGWwu4NFStGQARW6MWUlUUSoAZR4rff4iab-Adjb-383sx7U0RRhGjFTnnGmpxXrBD3mOKNamCQZzq4MAvGgMEnOAx0aWIpaH0D-EsVvOnSVhawAgIY0Vf00HMMeE3_D-g2weA5hufKmgrk6wU9vUbIVDZFgo-RNzGJBES7BR5EvADPMjx1IeNbwDU-NDFiPiLWwlB0fOfhPuYc0azgyd-XGVWi6BmidfqT1mk9PNbiedc0-8PnAAbQtu0w4zwr0uE3LwfwSLLjhwZF12THdV0uTRq2Ze2xEGoqSntWnf1zmXAxSJUk6ENZVY2ZaCz1A9YWRZouySry0wrF4n-13tV5GK1PedqisOJ1KcL73aYMx3FDZ2zaphNsnNAemSsUi5bvale9dhtf3AZivU-n7MswjCC38mW51hs1OSvFaZeVuqIab79aJJuT\/dz\/d5\/L0lJS2FZQSEhL3dMTUFBc1FBaWpNQy80TmxHb3hBIS9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy83ODEwMw!!\/\" style=\"\" rel=\"noopener\">which kicked off<\/a> earlier this week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>The company has appointed Standard Chartered Bank, HSBC, SMBC Nikko Capital Markets, MUFG EMEA, Mizuho International, JP Morgan Securities, Al Rajhi Capital, First Abu Dhabi Bank, Mashreq Bank, Dubai Islamic Bank, KFH Capital Investment and Bank of China as joint managers for the potential offering.<\/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\/bank-of-china\/\">Bank of China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital\/\">Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/dubai-islamic-bank\/\">Dubai Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/kfh-capital-investment\/\">KFH Capital Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mashreq-bank\/\">Mashreq Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-electricity-company\/\">Saudi Electricity Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sukuk\/\">sukuk<\/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=\"83253\" 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=\"83253\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/its-a-wrap-for-the-pif-private-sector-forum\/\">\r\n                            Share of local content spending across PIF companies hit 46% last year, fund says                        <\/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\/08\/its-a-wrap-for-the-pif-private-sector-forum\/\" 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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data-image-title=\"672.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/672.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/672.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83253\" class=\"content-area-description single-story post-83253 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-al-ayuni-investment-and-contracting tag-contractor-financing-program tag-diriyah-gate-development-authority tag-enterpriseam-ksa tag-investment-watch tag-national-infrastructure-fund tag-pif tag-real-estate-general-authority tag-roshn tag-saudi-ceramics 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\/.3af23750-e91c-4162-8d93-d69b4b9f9483.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The PIF\u2019s Private Sector Forum wrapped up yesterday following two-days of talks on <\/strong>empowering the private sector as the Kingdom looks to raise the sector\u2019s contribution to GDP to 65% by 2030. It also saw the signing of a number of agreements in key sectors under the Kingdom\u2019s economic diversification plan. Here\u2019s what you need to know: <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The share of local content spending across the PIF\u2019s portfolio came in at 46% last <\/strong><strong>year<\/strong>, Jerry Todd, who heads the fund\u2019s National Development Division, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4244410\/%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%A9-46-%D9%86%D8%B3%D8%A8%D8%A9-%D8%A7%D9%84%D9%85%D8%AD%D8%AA%D9%88%D9%89-%D8%A7%D9%84%D9%85%D8%AD%D9%84%D9%8A-%D9%81%D9%8A-%D9%85%D8%B4%D8%A7%D8%B1%D9%8A%D8%B9%D9%86%D8%A7-%D8%A8%D9%86%D9%87%D8%A7%D9%8A%D8%A9-2023\/\" style=\"\" rel=\"noopener\">said yesterday<\/a> during a session. He said the PIF aims to reach a local content spending target of 60% by 2025. \u201cThere\u2019s a challenge around shifting local content from only a procurement to discussion to a design and engineering discussion,\u201d Todd said, revealing that the fund will launch a \u201cdesign competition\u201d to help spread awareness on shifting to local materials. \u201cWe need that awareness not only with architects and engineers but also with the client themselves,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- PIF-owned Diriyah Gate Development Authority (DGDA) signed two agreements worth <\/strong><strong>over SAR 2.7 bn <\/strong>on the sidelines of the forum, its CEO Jerry Inzerillo told <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2455826\/business-economy\" style=\"\" rel=\"noopener\">Arab News<\/a>. The first agreement, worth SAR 2 bn, was signed with local firm Al Ayuni Investment and Contracting Co for infrastructure development in the area. A second SAR 700 mn agreement was signed with Saudi Constructioneers to set up Ritz-Carlton residences in Diriyah, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DGDA will launch 11 new projects in the tourism, entertainment and leisure sectors by <\/strong><strong>the end of the year<\/strong>, Inzerillo said. The projects include the King Salman Boulevard, which is dubbed the Kingdom\u2019s version of the popular Champs-Elysees in Paris. Inzerillo said the DGDA plans to award over USD 3 bn in contracts focused on infrastructure and design engineering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The PIF\u2019s Rua Al Madinah Holding <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4244276\/-%D8%B1%D8%A4%D9%89-%D8%A7%D9%84%D9%85%D8%AF%D9%8A%D9%86%D8%A9-%D8%AA%D9%88%D9%82%D8%B9-%D8%B9%D9%82%D8%AF%D9%8A%D9%86-%D8%A8%D8%A3%D9%83%D8%AB%D8%B1-%D9%85%D9%86-300-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%B1%D9%8A%D8%A7%D9%84\/\" style=\"\" rel=\"noopener\">signed two contracts<\/a><\/strong><strong> worth over SAR 300 mn with <\/strong><strong>unnamed \u201cglobal expert houses\u201d<\/strong> for the development of a number of hotels in its landmark project in Madinah.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- The PIF really loves tourism: <\/strong>PIF-owned tourism investment company Asfar signed three MoUs with the private sector to explore potential tourism investments in the Eastern Province, <a target=\"_blank\" href=\"https:\/\/aawsat.com\/%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\/4839966-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A7%D8%AA-%D9%88%D8%A5%D8%B7%D9%84%D8%A7%D9%82-%D9%85%D8%B4%D8%A7%D8%B1%D9%8A%D8%B9-%D8%B9%D9%85%D9%84%D8%A7%D9%82%D8%A9-%D8%AD%D8%B5%D9%8A%D9%84%D8%A9-%D9%85%D9%86%D8%AA%D8%AF%D9%89-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%AF%D9%8A-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D9%84%D8%AA%D9%85%D9%83%D9%8A%D9%86-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5\" style=\"\" rel=\"noopener\">Asharq Al Awsat<\/a> reported. They also plan to launch a multi-purpose tourism project in Al Ahsa \u2014 the largest governorate in the Eastern Province. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Roshn\u2019s Al Fulwa development is getting a push: <\/strong>PIF\u2019s real estate subsidiary Roshn signed agreements and contracts with Al Ayuni Investment and Contracting, local contractor Ansab and Saudi Ceramics to design and set up residential units and utilities to its integrated development <a target=\"_blank\" href=\"https:\/\/www.roshn.sa\/en\/alfulwa\" style=\"\" rel=\"noopener\">Al Fulwa<\/a> located south of Hofuf.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- And coffee beans: The PIF\u2019s Saudi Coffee Company (SCC) signed <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/government-news\/at-pif-private-sector-forum-saudi-coffee-company-inks-9-key-agreements-t5omamws\" style=\"\" rel=\"noopener\">nine agreements<\/a><\/strong><strong>with global and local partners <\/strong>aimed at boosting the local coffee industry. Those include a purchasing contract with local contractors to set up necessary infrastructure for farm lands to harvest coffee beans in Jazan. It also signed an agreement with Saudi Argo for advanced irrigation solutions to help it lower water consumption at its farms. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your next cup of coffee could be roasted by the SCC:<\/strong> The SCC also signed purchasing contracts with Barns, Bon Cafe, Al Hokair Group and others to supply them with locally produced specialty coffee.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also from the form:<\/strong><\/p>\n<ul>\n<li><strong>PIF-owned King Abdullah Financial District (KAFD) <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4244431\/-%D9%83%D8%A7%D9%81%D8%AF-%D9%8A%D8%B9%D9%82%D8%AF-%D8%B4%D8%B1%D8%A7%D9%83%D8%A7%D8%AA-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%88%D9%8A%D9%85%D9%86%D8%AD-%D8%B9%D8%AF%D8%A9-%D8%B9%D9%82%D9%88%D8%AF-%D8%B1%D8%A6%D9%8A%D8%B3%D9%8A%D8%A9-%D9%84%D9%80-5-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%AE%D8%A7%D8%B5%D8%A9\/\" style=\"\" rel=\"noopener\">signed five agreements<\/a><\/strong>focused on boosting infrastructure, hospitality, and telecom in the financial hub.<\/li>\n<li><strong>PIF <\/strong><strong><a target=\"_blank\" href=\"https:\/\/rega.gov.sa\/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2-%D8%A7%D9%84%D8%A7%D8%B9%D9%84%D8%A7%D9%85%D9%8A\/%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1-%D8%AA%D9%88%D9%82%D8%B9-%D9%85%D8%B0%D9%83%D8%B1%D8%A9-%D8%AA%D9%81%D8%A7%D9%87%D9%85-%D9%85%D8%B9-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%A9-%D9%84%D8%AA%D8%B9%D8%B2%D9%8A%D8%B2-%D8%AF%D9%88%D8%B1-%D8%A7%D9%84%D9%85%D9%85%D9%84%D9%83%D8%A9-%D9%83%D9%85%D8%B1%D9%83%D8%B2-%D9%84%D9%84%D8%AA%D9%83%D9%86%D9%88%D9%84%D9%88%D8%AC%D9%8A%D8%A7-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D9%8A%D8%A9\/?page=1&search=&sort=\" style=\"\" rel=\"noopener\">signed a MoU<\/a><\/strong><strong>with the Real Estate General Authority to establish four new <\/strong><strong>centers <\/strong>focused on leveraging technology and capacity building to boost the real estate sector.<\/li>\n<li><strong>The PIF launched a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/Pages\/NewsDetails.aspx?NewswireId-260\/PIF-Private-Sector-Forum-continues-to-increase-Saudi-private-sectors-role-in-PIF-contracts\" style=\"\" rel=\"noopener\">new contractor financing program<\/a><\/strong><strong> to provide flexible financing <\/strong>solutions to contractors working with the fund\u2019s subsidiaries.<\/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\/al-ayuni-investment-and-contracting\/\">Al Ayuni Investment and Contracting<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/contractor-financing-program\/\">Contractor Financing Program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diriyah-gate-development-authority\/\">Diriyah Gate Development Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-infrastructure-fund\/\">National Infrastructure Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pif\/\">PIF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate-general-authority\/\">Real Estate General Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/roshn\/\">Roshn<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-ceramics\/\">Saudi Ceramics<\/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=\"83255\" 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=\"83255\">\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\">DEFENSE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/sami-and-friends-ink-still-more-agreements-at-world-defense-show\/\">\r\n                            Sami, Kia, Saudi Chemical ink agreements at World Defense Show                        <\/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=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/662.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83256\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/sami-and-friends-ink-still-more-agreements-at-world-defense-show\/662-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/662.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"662.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/662.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/662.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83255\" class=\"content-area-description single-story post-83255 post type-post status-publish format-standard has-post-thumbnail hentry category-defense tag-barzan-holdings tag-defense tag-defense-ministry tag-enterpriseam-ksa tag-national-company-for-mechanical-systems tag-saudi-arabian-military-industries tag-saudi-chemical tag-tehnicki-remont-bratunac 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\/.0bddd367-84ce-4b9a-9173-47157461af8f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Among the highlights of day three of the World Defense show:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Sami + Kia will work together on military vehicles:<\/strong> The Saudi Arabian Military Industries (Sami) signed an agreement with South Korea\u2019s second-largest automaker Kia for the production of bare chasses for light tactical vehicles, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2043405\" style=\"\" rel=\"noopener\">SPA<\/a> reports. Further details on the planned project were not provided. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Saudi Chemical Co. signed a EUR 4 mn contract with Bosnia\u2019s Tehni<\/strong><strong>\u010d<\/strong><strong>ki Remont <\/strong><strong>Bratunac <\/strong>to localize the production of military fuses and mortar rounds, it said in a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/bdhpn8mw\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The one-year contract covers the know-how, local production and the completion of the planned production line for the fuses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Saudi Chemical also signed a five-year MoU with the National Company for Mechanical Systems to explore developing joint projects aimed at boosting defense industries, 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\/jZFdb4IwFIZ_yy64XHqAUWB3iFghUkBgfNyYMo0jgUIWhvHfr2qyRB3G3jV9zjnv04NKlKOSs7Hes6HuOGvEvSjxRrMwKEsDAlgmNmCICU4TQ567KspugDjUIFqEvrqCNRDAqHymHiaOBc_V_wGGTzBE1IoCRdeAfDxRX14jZKE4wsCcRXOHyED0W-AfxTPwyOFhCgXfAoFl6mKENyPuylINfJfhXtND5b7pqsvKvoahf5dAgoFt2eGnkUSEz67tGT_Gx7bqBKQoKkyhjHObDSiXpwF3i3LdkEWPeMdRIZagT_pFGGVjvTuglHffrUgYn3QsSoOU2o7v0GRDU3_mrFFxammeXq_TFue0ifiDh1P6Nk1zqN06bDNj0Kq3whvpa_TyC_zM-Q0!\/dz\/d5\/L0lJS2FZQSEhL3dMTUFBc1FBa2pNQy80TmxHb3hBIS9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy83ODEzOQ!!\/\" style=\"\" rel=\"noopener\">separate disclosure to Tadawul<\/a>. No further details were disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- We (kind of) now know what the Barzan agreement is about: <\/strong>Sami also signed a MoU with Qatar\u2019s Barzan Holdings \u2014 the procurement arm of Qatar\u2019s Defense Ministry. It sees both parties \u201cexploring potential investments\u201d in the defense sector, according to a <a target=\"_blank\" href=\"https:\/\/www.sami.com.sa\/blog\/98\" style=\"\" rel=\"noopener\">statement by Sami<\/a>. They will also exchange cooperation in maintenance, repair and overhaul of activities related to the sector. The agreement is the first of its kind between the two defense firms in the neighboring countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM THE EXPO- <\/strong>The Defense Ministry also <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2043451\" style=\"\" rel=\"noopener\">signed contracts<\/a> with several defense firms, including South Africa\u2019s communication intelligence systems provider Hensoldt Gew, German defense contractor Rheinmetall\u2019s Spanish subsidiary Rheinmetall Expal, Bosnian ammunition maker Igman and South Korea\u2019s defense-related products manufacturer Poongsan Corp.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ Today is the fourth and final day. We\u2019ll be back on Sunday with a wrapup.<\/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\/barzan-holdings\/\">Barzan Holdings<\/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\/defense-ministry\/\">Defense Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-company-for-mechanical-systems\/\">National Company for Mechanical Systems<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-arabian-military-industries\/\">Saudi Arabian Military Industries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-chemical\/\">Saudi Chemical<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tehnicki-remont-bratunac\/\">Tehnicki Remont Bratunac<\/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=\"83257\" 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=\"83257\">\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\">LOGISTICS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/saudi-is-one-of-the-10-most-competitive-em-logistics-markets-poll\/\">\r\n                            How KSA fared amongst its EM peers in logistics- Agility\u2019s index                        <\/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\/08\/saudi-is-one-of-the-10-most-competitive-em-logistics-markets-poll\/\" 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 index is based on a survey of industry execs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Kingdom made the top 10 list in all of the index\u2019 subcategories.<\/strong> The rankings in short:<\/p>\n<ul>\n<li>Third place in best business fundamentals;<\/li>\n<li>Sixth place in digital readiness;<\/li>\n<li>Sixth place in international logistics, up from third in the previous year;<\/li>\n<li>Seventh place in domestic logistics.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KSA made the most progress diversifying the economy over the past decade<\/strong>, followed by the UAE and Qatar, poll respondents said. Respondents highlighted a favorable environment for SMEs as the primary driver for diversification, followed by improved conditions for multinationals, innovation and technology, infrastructure, among other factors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The methodology: <\/strong>The index surveyed 830 industry executives to evaluate 50 emerging markets according to their appeal to industry stakeholders, such as freight forwarders, ocean and air freight carriers, distributors, and investors. Countries were assessed on these criteria: potential for growth in the domestic and international logistics sectors, business openness, and digital readiness.<\/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\/agility\/\">Agility<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83259\" 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=\"83259\">\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\">TOURISM<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/gen-x-saudis-will-be-a-major-growth-driver-for-the-gcc-travel-tourism-sectors-by-2028\/\">\r\n                            Gen X Saudis will be a major growth driver for the GCC travel, tourism sectors by 2028                        <\/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\/08\/gen-x-saudis-will-be-a-major-growth-driver-for-the-gcc-travel-tourism-sectors-by-2028\/\" 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\/08\/gen-x-saudis-will-be-a-major-growth-driver-for-the-gcc-travel-tourism-sectors-by-2028\/')\">\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\/08\/gen-x-saudis-will-be-a-major-growth-driver-for-the-gcc-travel-tourism-sectors-by-2028\/\">\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=Gen X Saudis will be a major growth driver for the GCC travel, tourism sectors by 2028&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/gen-x-saudis-will-be-a-major-growth-driver-for-the-gcc-travel-tourism-sectors-by-2028\/\">\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\/08\/gen-x-saudis-will-be-a-major-growth-driver-for-the-gcc-travel-tourism-sectors-by-2028\/&title=Gen X Saudis will be a major growth driver for the GCC travel, tourism sectors by 2028\">\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=Gen+X+Saudis+will+be+a+major+growth+driver+for+the+GCC+travel%2C+tourism+sectors+by+2028+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F08%2Fgen-x-saudis-will-be-a-major-growth-driver-for-the-gcc-travel-tourism-sectors-by-2028%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\/08\/gen-x-saudis-will-be-a-major-growth-driver-for-the-gcc-travel-tourism-sectors-by-2028\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83259\" class=\"content-area-description single-story post-83259 post type-post status-publish format-standard hentry category-tourism tag-enterpriseam-ksa tag-hospitality tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.a7733068-daee-4080-9864-6b45123f8159.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi<\/strong><strong> travelers born between 1965 and 1980 (aka Gen X) are expected<\/strong><strong> to spend USD 11 <\/strong><strong>bn by 2028 in the <\/strong><strong>outbound travel and tourism <\/strong><strong>market in the GCC region<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/travel-and-tourism\/gen-x-in-uae-saudi-lead-gcc-outbound-travel-market-to-reach-57bln-by-2028-yiemadf9\" style=\"\" rel=\"noopener\">Zawya<\/a> writes, citing a Research Nester report. That\u2019s 41% of the Kingdom's total market spend. Gen X travelers expected to spend USD 18 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our favorite destination is Europe:<\/strong> Saudi travelers bound to Europe are expected to account for USD 13.2 bn in travel and tourism market value in the GCC by 2028, up from USD 7.4 bn in 2019, according to the news outlet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi was the top destination for international travel inbound to the MENA region in 4Q <\/strong><strong>2023<\/strong>, topping the list for six consecutive months, according to Wego data.<\/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\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83260\" 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=\"83260\">\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\">REAL ESTATE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/nhc-is-taking-reservation-for-residential-projects-in-jeddah-riyadh\/\">\r\n                            NHC is taking reservation for residential projects in Jeddah, Riyadh, while scrapping the housing subsidy eligibility requirement                        <\/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\/08\/nhc-is-taking-reservation-for-residential-projects-in-jeddah-riyadh\/\" 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\/08\/nhc-is-taking-reservation-for-residential-projects-in-jeddah-riyadh\/')\">\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\/08\/nhc-is-taking-reservation-for-residential-projects-in-jeddah-riyadh\/\">\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=NHC is taking reservation for residential projects in Jeddah, Riyadh&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/nhc-is-taking-reservation-for-residential-projects-in-jeddah-riyadh\/\">\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\/08\/nhc-is-taking-reservation-for-residential-projects-in-jeddah-riyadh\/&title=NHC is taking reservation for residential projects in Jeddah, Riyadh\">\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=NHC+is+taking+reservation+for+residential+projects+in+Jeddah%2C+Riyadh+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F08%2Fnhc-is-taking-reservation-for-residential-projects-in-jeddah-riyadh%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\/08\/nhc-is-taking-reservation-for-residential-projects-in-jeddah-riyadh\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/654.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83261\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/nhc-is-taking-reservation-for-residential-projects-in-jeddah-riyadh\/654-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/654.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"654.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/654.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/654.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83260\" class=\"content-area-description single-story post-83260 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-enterpriseam-ksa tag-jeddah tag-municipal-and-rural-affairs-ministry tag-national-housing-company tag-real-estate tag-riyadh 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\/.f94fa05a-4233-45a7-b5e4-ad74c5f0c58b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Citizens can make reservations this month for any of the residential units offered <\/strong><strong>by t<\/strong><strong>he <\/strong><strong><a target=\"_blank\" href=\"https:\/\/beta.nhc.sa\/\" style=\"\" rel=\"noopener\">National Housing Company (NHC)<\/a><\/strong>, without having to be eligible for a housing subsidy, NHC said in <a target=\"_blank\" href=\"https:\/\/beta.nhc.sa\/media-center\/news\/47246\/\" style=\"\" rel=\"noopener\">a statement<\/a> yesterday. It\u2019s not clear whether this is an exception that will be valid for February 2024 only or NHC has completely scrapped the requirement of having to be eligible for housing subsidies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The Ministry of Municipal and Rural Affairs\u2019 investment arm will be taking reservations this month for residential units developed by its partner developers in Jeddah and Riyadh. These units vary from villas to town houses, and apartments. There are 12 available projects in Jeddah and two in Riyadh. Buyers can finance their property purchases with front payments or through real estate financing plans.<\/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\/jeddah\/\">Jeddah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/municipal-and-rural-affairs-ministry\/\">Municipal and Rural Affairs Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-housing-company\/\">National Housing Company<\/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\/riyadh\/\">Riyadh<\/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=\"83262\" 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=\"83262\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/rent-now-pay-later-outfit-rize-closes-a-seed-round\/\">\r\n                            Rent now, pay later startup Rize closes a seed round with proceeds earmarked for local expansion                        <\/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\/08\/rent-now-pay-later-outfit-rize-closes-a-seed-round\/\" 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\/08\/rent-now-pay-later-outfit-rize-closes-a-seed-round\/')\">\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\/08\/rent-now-pay-later-outfit-rize-closes-a-seed-round\/\">\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=Rent now, pay later outfit Rize closes a seed round&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/rent-now-pay-later-outfit-rize-closes-a-seed-round\/\">\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\/08\/rent-now-pay-later-outfit-rize-closes-a-seed-round\/&title=Rent now, pay later outfit Rize closes a seed round\">\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=Rent+now%2C+pay+later+outfit+Rize+closes+a+seed+round+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F08%2Frent-now-pay-later-outfit-rize-closes-a-seed-round%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\/08\/rent-now-pay-later-outfit-rize-closes-a-seed-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/668.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83263\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/rent-now-pay-later-outfit-rize-closes-a-seed-round\/668-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/668.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"668.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/668.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/668.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83262\" class=\"content-area-description single-story post-83262 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-bunat-ventures tag-enterpriseam-ksa tag-hala-ventures tag-joa-capital tag-nama-ventures tag-proptech tag-rize tag-rzm-investments tag-seedra-ventures tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.083cb786-e311-4f20-9c08-b292a32badf4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Rent now pay later<\/strong><strong><a target=\"_blank\" href=\"https:\/\/rize.sa\/en\/\" style=\"\" rel=\"noopener\">Rize<\/a><\/strong><strong> has raised USD 2.9 mn in a seed funding round<\/strong> with participation from our friends at <a target=\"_blank\" href=\"https:\/\/seedra.com\/\" style=\"\" rel=\"noopener\">Seedra Ventures<\/a> as well as <a target=\"_blank\" href=\"https:\/\/www.hala.vc\/\" style=\"\" rel=\"noopener\">Hala Ventures<\/a>, <a target=\"_blank\" href=\"https:\/\/www.joa.capital\/\" style=\"\" rel=\"noopener\">JOA Capital<\/a>, <a target=\"_blank\" href=\"https:\/\/rzm.com.sa\/en\/\" style=\"\" rel=\"noopener\">RZM Investments<\/a>, <a target=\"_blank\" href=\"https:\/\/bunat.vc\/\" style=\"\" rel=\"noopener\">Bunat Ventures<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.namaventures.com\/\" style=\"\" rel=\"noopener\">Nama Ventures<\/a>, along with a group of unnamed angel investors<strong>,<\/strong> it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/606.pdf\" style=\"\" rel=\"noopener\">press release<\/a>. The company has also secured an undisclosed amount of debt financing from unnamed lenders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meet Rize: <\/strong>The proptech company was founded in 2021 by <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ibalilah\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Ibrahim Balilah<\/a> and <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/alfraihi\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Mohammed<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/alfraihi\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">AlFraihi<\/a> to streamline property interactions, claiming to make rental processes efficient and more tenant-friendly. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cWe aspire to make monthly payments the standard in residential and commercial leases, and with this investment and the remarkable growth of the Ejar platform, we will be able to expand further across the Kingdom,\" said Balilah and Alfraihi.<\/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\/bunat-ventures\/\">Bunat Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hala-ventures\/\">Hala Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/joa-capital\/\">JOA Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nama-ventures\/\">Nama Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/proptech\/\">Proptech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/rize\/\">Rize<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/rzm-investments\/\">RZM Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/seedra-ventures\/\">Seedra Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83264\" 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=\"83264\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/savolas-net-income-up-21-y-o-y-in-2023\/\">\r\n                            Savola\u2019s net income rise 21% y-o-y 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\/08\/savolas-net-income-up-21-y-o-y-in-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/savolas-net-income-up-21-y-o-y-in-2023\/')\">\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\/08\/savolas-net-income-up-21-y-o-y-in-2023\/\">\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=Savola\u2019s net income up 21% y-o-y in 2023&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/savolas-net-income-up-21-y-o-y-in-2023\/\">\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\/08\/savolas-net-income-up-21-y-o-y-in-2023\/&title=Savola\u2019s net income up 21% y-o-y in 2023\">\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=Savola%E2%80%99s+net+income+up+21%25+y-o-y+in+2023+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F08%2Fsavolas-net-income-up-21-y-o-y-in-2023%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\/08\/savolas-net-income-up-21-y-o-y-in-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83264\" class=\"content-area-description single-story post-83264 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings tag-earnings-watch tag-enterpriseam-ksa tag-savola 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\/.ef9a8816-6d50-40ee-8fd6-81cdd035c821.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Savola Group\u2019s net income rose c. 21.1% y-o-y in 2023<\/strong> to c. SAR 899.2 mn due to higher gross income from its segments, it said in <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/4huubf6m\" style=\"\" rel=\"noopener\">a statement to Tadawul<\/a>. Its top line dropped 4.3% y-o-y to SAR 26.8 bn in 2023 on the back of falling crude edible oil prices and in FX devaluation in a number of its overseas markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leading the growth: <\/strong>The growth in net income last year came primarily on the back of higher gross income from its food processing, retail and frozen food segments and lower operational costs. This helped offset a higher net finance cost and zakat and income tax expense, according to Savola.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Savola attributed the y-o-y dip in revenues to lower revenues from its food processing <\/strong><strong>segment <\/strong>due to lower crude edible oil prices, FX devaluation in some of its markets abroad, an exit from Morocco and the temporary suspension of operations in Khartoum on the back of the crisis in Sudan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Q4 in a nutshell:<\/strong> Savola\u2019s net income soared 140% y-o-y in Q4 2023 to SAR 227.1 mn, while revenues were essentially flat \u2014 down 0.3% y-o-y to SAR 6.6 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\/\">Earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/savola\/\">Savola<\/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=\"83265\" 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=\"83265\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/alibrahim-named-national-development-funds-new-chairman\/\">\r\n                            Economy Minister Faisal Alibrahim named National Development Fund\u2019s new chairman                        <\/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\/08\/alibrahim-named-national-development-funds-new-chairman\/\" 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\/08\/alibrahim-named-national-development-funds-new-chairman\/')\">\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\/08\/alibrahim-named-national-development-funds-new-chairman\/\">\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=Alibrahim named National Development Fund\u2019s new chairman&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/alibrahim-named-national-development-funds-new-chairman\/\">\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\/08\/alibrahim-named-national-development-funds-new-chairman\/&title=Alibrahim named National Development Fund\u2019s new chairman\">\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=Alibrahim+named+National+Development+Fund%E2%80%99s+new+chairman+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F08%2Falibrahim-named-national-development-funds-new-chairman%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\/08\/alibrahim-named-national-development-funds-new-chairman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/682.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83266\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/alibrahim-named-national-development-funds-new-chairman\/682-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/682.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"682.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/682.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/682.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83265\" class=\"content-area-description single-story post-83265 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-al-razi-medical tag-enterpriseam-ksa tag-faisal-alibrahim tag-mohamed-daoud tag-moves tag-national-development-fund 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\/.7c5a59ca-ff50-4d91-b5de-bb38b7d2341f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ndf.gov.sa\/en\/home\/\" style=\"\" rel=\"noopener\">National Development Fund (NDF)<\/a><\/strong> named <strong>Economy and Planning Minister Faisal <\/strong><strong>Alibrahim<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/faisalalibrahim\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Linkedin<\/a>) as its new <strong>chairman<\/strong>, state news agency SPA reported. The NDF oversees the Kingdom\u2019s development funds and banks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.razimed.com\/en\" style=\"\" rel=\"noopener\">Al Razi Medical<\/a><\/strong>appointed <strong>Mohamed Hassan Daoud<\/strong> as its new <strong>CEO<\/strong>, succeeding Hussein Al Alfi, who resigned from his position, 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\/jZBPD8FAEMU_i0OvnVFa5VZBxZ8ojai9yJa1mrS7TW01vr3FiVDmNjO_9-ZlgEAERNBLwqlKpKCp7rfE2dmeg9bYxYU_soa4HHX7y8HQb-K0DZtXAMPA1kAwb81whT46QP7R45fy8Lee1CJ-5x34EPEB1GSYAOGpjJ__8ETccjmQgh1ZwQqzLPT4pFR-7hloYFVVJpeSp8zcy8zAT5KTPCuIXsk7d3d5mCh6oFWZajXRq5yKa3jNYqkPde2OBSETkGfrCJMg27jKjtte4wY1sEEJ\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODE0MC9jb21wYW55U3ltYm9sLzk1NzIvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Daoud previously served as Al Razi\u2019s director of its development department. He was also previously CEO of Egypt\u2019s Rovamed Pharma. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-razi-medical\/\">Al Razi Medical<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/faisal-alibrahim\/\">Faisal Alibrahim<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mohamed-daoud\/\">Mohamed Daoud<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-development-fund\/\">National Development Fund<\/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=\"83267\" 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=\"83267\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/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\/08\/foreign-ministrys-no-normalization-position-without-palestinian-state-continues-to-get-ink\/\">\r\n                            Foreign Ministry\u2019s no-normalization position without Palestinian state continues to get ink                        <\/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\/08\/foreign-ministrys-no-normalization-position-without-palestinian-state-continues-to-get-ink\/\" 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 story is getting ink from <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-arabia-says-there-will-be-no-diplomatic-relations-with-israel-without-an-2024-02-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b544d9fd-aa1e-4381-a440-068b5973c590\" style=\"\" rel=\"noopener\">The Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/english.ahram.org.eg\/NewsContent\/58\/1262\/517327\/War-on-Gaza\/War-on-Gaza\/Saudi-says-no-Israel-ties-without-independent-Pale.aspx\" style=\"\" rel=\"noopener\">AFP<\/a> and others. <\/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-blinken\/\">Antony Blinken<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/palestine\/\">Palestine<\/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=\"83268\" 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=\"83268\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/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\/08\/juffali-automotive-opens-its-largest-mercedes-center-plus-infrastructure-agriculture-and-debt\/\">\r\n                            Juffali Automotive opens its largest Mercedes center. Plus: Infrastructure, agriculture, and debt                        <\/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\/08\/juffali-automotive-opens-its-largest-mercedes-center-plus-infrastructure-agriculture-and-debt\/\" 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\/08\/juffali-automotive-opens-its-largest-mercedes-center-plus-infrastructure-agriculture-and-debt\/')\">\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\/08\/juffali-automotive-opens-its-largest-mercedes-center-plus-infrastructure-agriculture-and-debt\/\">\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=Juffali Automotive opens its largest Mercedes center. Plus: Infrastructure, agriculture, and debt&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/juffali-automotive-opens-its-largest-mercedes-center-plus-infrastructure-agriculture-and-debt\/\">\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\/08\/juffali-automotive-opens-its-largest-mercedes-center-plus-infrastructure-agriculture-and-debt\/&title=Juffali Automotive opens its largest Mercedes center. Plus: Infrastructure, agriculture, and debt\">\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=Juffali+Automotive+opens+its+largest+Mercedes+center.+Plus%3A+Infrastructure%2C+agriculture%2C+and+debt+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F08%2Fjuffali-automotive-opens-its-largest-mercedes-center-plus-infrastructure-agriculture-and-debt%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\/08\/juffali-automotive-opens-its-largest-mercedes-center-plus-infrastructure-agriculture-and-debt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83268\" class=\"content-area-description single-story post-83268 post type-post status-publish format-standard hentry category-also-on-our-radar tag-alinma-bank tag-also-on-our-radar tag-debt tag-enterpriseam-ksa tag-infrastructure tag-modon tag-saudi-arabian-railways tag-saudi-land-factory-for-cement-products tag-saudi-vitrified-clay-pipes tag-tabuk-agricultural-development tag-transport tag-wafrah-for-industry-and-development tag-zahrat-al-waha 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\/.3e176aa2-905d-40ce-a961-b4834d1c2cae.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\">AUTOMOTIVE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Juffali Automotive (Jaco), Saudi Arabia\u2019s sole distributor for Mercedes-Benz, opened its <\/strong><strong>largest center in the Kingdom<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1703367\" style=\"\" rel=\"noopener\">a statement picked up by Argaam<\/a>. The Riyadh facility has a two-floor showroom that can accommodate 30 vehicles. The center offers maintenance services and distribution points for authentic spare parts. It is also home for four vehicle delivery areas, all equipped with electric vehicle charging stations.<\/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\">TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bahri + GDC Middle East ink freight forwarding MoU:<\/strong> National shipping company <a target=\"_blank\" href=\"https:\/\/www.bahri.sa\/\" style=\"\" rel=\"noopener\">Bahri<\/a> Logistics signed an MoU with PIF\u2019s aerospace system solutions subsidiary <a target=\"_blank\" href=\"https:\/\/www.gdcme.com\/\" style=\"\" rel=\"noopener\">GDC Middle East<\/a> to boost collaboration in freight forwarding services, according to a <a target=\"_blank\" href=\"https:\/\/www.bahri.sa\/en\/news-insights\/news-insight\/2024\/bahri-logistics-and-gdc-middle-east-sign-mou-paving-the-way-for-strategic-partnership\/\" style=\"\" rel=\"noopener\">statement<\/a>. Two sides signed the MoU on the sidelines of the <a target=\"_blank\" href=\"https:\/\/www.worlddefenseshow.com\/\" style=\"\" rel=\"noopener\">World Defense Show 2024<\/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\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>The National Water Company completed a SAR 638 mn project improving pumping <\/strong><strong>systems <\/strong><strong>in a dozen neighborhoods in Riyadh<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4244293\/-%D8%A7%D9%84%D9%85%D9%8A%D8%A7%D9%87-%D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%8A%D8%A9-%D8%AA%D8%B9%D9%84%D9%86-%D8%A7%D9%83%D8%AA%D9%85%D8%A7%D9%84-%D8%AA%D8%AD%D8%B3%D9%8A%D9%86-%D9%85%D9%86%D8%B8%D9%88%D9%85%D8%A9-%D8%A7%D9%84%D8%B6%D8%AE-%D8%A8%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6-%D8%A8%D8%AA%D9%83%D9%84%D9%81%D8%A9-683-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%B1%D9%8A%D8%A7%D9%84\/\" style=\"\" rel=\"noopener\">Mubasher<\/a> reports, citing a company statement. Over 1 mn residents benefitted from the improved water infrastructure<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- India-based water technology company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wabag.com\/#hpbanner\" style=\"\" rel=\"noopener\">Tech Wabag<\/a><\/strong><strong> has landed a USD 33.5 mn <\/strong><strong>contract from <\/strong><strong><a target=\"_blank\" href=\"http:\/\/www.sepco3.com\/\" style=\"\" rel=\"noopener\">SEPCO III Electric Power Construction Corporation<\/a><\/strong>for engineering and procurement works at an industrial wastewater treatment plant at the Ras Tanura refinery complex, it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/680.pdf\" style=\"\" rel=\"noopener\">a press release (pdf)<\/a>. The plant has a capacity of 20 mn liters per day.<\/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\">AGRICULTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tabuk Agricultural Development (Tadco) will supply Wafrah for Industry and <\/strong><strong>Development with industrial potatoes under a SAR 16 mn agreement<\/strong>, Tadco said in <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-oyMzAxEA_ODVPvyA3NMIgMyA3XNdREQDmDzS3\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODEzOC9jb21wYW55U3ltYm9sLzYwNDAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a statement to Tadawul<\/a>. The contract runs until the end of March 2025.<\/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\">DEBT WATCH-<\/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:\/\/zaoasis.com\/\" style=\"\" rel=\"noopener\">Zahrat Al Waha<\/a><\/strong><strong> has renewed a SAR 60 mn shariah-compliant credit facility agreement <\/strong><strong>with Alinma Bank<\/strong>, it said in <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-oyNjAwFw_ODVPvyA3NMIgMyA3XNdREQBFj1Ey\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODEyNi9jb21wYW55U3ltYm9sLzMwMDcvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The debt will be guaranteed by order notes of business booked with the company and will be used to finance the issuance of letters of credit to purchase raw materials.<\/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\">TRANSPORTATION + LOGISTICS-<\/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.modon.gov.sa\/en\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Modon<\/a><\/strong><strong> has <\/strong><strong>signed two MoUs with <\/strong><strong><a target=\"_blank\" href=\"http:\/\/www.sar.com.sa\/\" style=\"\" rel=\"noopener\">Saudi Arabian Railways<\/a><\/strong>to develop a 1 mn sqm logistics city in Dammam, as well as a new passenger station at Sudair Industrial City, which will link to the Northern Railway System, <a target=\"_blank\" href=\"https:\/\/twitter.com\/modon_ksa\/status\/1755202141302465005\" style=\"\" rel=\"noopener\">Modon said<\/a>. No further information was provided.<\/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><a target=\"_blank\" href=\"https:\/\/www.svcp-sa.com\/en\/\" style=\"\" rel=\"noopener\">Saudi Vitrified Clay Pipes (SVCP)<\/a><\/strong><strong>could soon <\/strong><strong>own 100%<\/strong><strong> of S<\/strong><strong>audi Land Factory for<\/strong><strong> Cement Products<\/strong><strong> in an all-share acquisition <\/strong>after signing a sale and purchase agreement (SPA) in a bid to diversify its product portfolio, the company said <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWkEQ3WFUjI-IEgPOxgw6jiQwQ3CU-PeOutL46q7tubc3BQIJEEHPGacqk4Lmul8Td-P4LlojD-fB0BrgYtjpLfqDoImTFsTPAEaho4FwZk9xiQG6QP7R44fy8beefEWC9ivwJuId-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!\/\" style=\"\" rel=\"noopener\">in a disclosure to Tadawul<\/a>. The transaction could go through by way of a paid transaction or issuing shares in SVCP for the selling shareholders, or a combination of both.<\/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\/alinma-bank\/\">Alinma Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/modon\/\">Modon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-arabian-railways\/\">Saudi Arabian Railways<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-land-factory-for-cement-products\/\">Saudi Land Factory for Cement Products<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-vitrified-clay-pipes\/\">Saudi Vitrified Clay Pipes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tabuk-agricultural-development\/\">Tabuk Agricultural Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/wafrah-for-industry-and-development\/\">Wafrah for Industry and Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/zahrat-al-waha\/\">Zahrat Al Waha<\/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=\"83269\" 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=\"83269\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/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\/08\/turkey-wealth-funds-debut-international-bond-issuance-was-14x-overscribed\/\">\r\n                            Turkey wealth fund\u2019s debut international bond issuance was 14x overscribed                        <\/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\/08\/turkey-wealth-funds-debut-international-bond-issuance-was-14x-overscribed\/\" 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 Turkey Wealth Fund reeled in some USD 7 bn in orders for its USD 500 mn USD-denominated bond issuance yesterday, according to a term sheet seen by the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/54c4823d-b5cd-4917-8c1b-fe7fc774f506\" style=\"\" rel=\"noopener\">Financial Times<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Last week, President Recep Tayyip Erdogan <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/20c6ce9a-50b2-42b8-bd8e-d74aeee82b4e\" style=\"\" rel=\"noopener\">appointed Fatih Karahan<\/a> to lead the country\u2019s central bank, replacing former governor Hafize Gaye Erkan, who <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-07\/what-triggered-turkish-central-bank-governor-erkan-s-exit\" style=\"\" rel=\"noopener\">stepped down<\/a> just eight months into her role. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Asian shares are mixed this morning <\/strong>in early trading.The Kospi and Nikkei are comfortably in the green, but shares in Shanghai and Hong Kong are weakly in the red as traders look for direction and <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/02\/08\/asia-markets-largely-set-to-rise-ahead-ahead-of-chinas-inflation-numbers-and-indias-rate-decision.html\" style=\"\" rel=\"noopener\">wait for inflation numbers<\/a>. Futures suggest major European benchmarks will open largely in the green, with Paris\u2019 CAC 40 being the sole exception. And look for a weak open on Wall Street absent a change in momentum. <\/p>\n<p><a target=\"_blank\" id=\"t.11ac89b65729e03f2bfffc5a5b087bf3edbf1122\" 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\">12,165.93<\/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% (YTD: +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>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\">1,576.00<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1% (YTD: +1.6%)<\/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-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,905.95<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.3% (YTD: +12.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,354.69<\/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: -2.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,161.94<\/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: +2.5%)<\/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>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\">4,995.06<\/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% (YTD: +4.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,628.75<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: -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>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\">4,678.85<\/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: +3.5%)<\/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>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\">79.37<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1.97<\/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\">-2.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">2,051.70<\/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\">+0.01<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">44,239.32<\/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\">+2.5% (YTD: +90.3%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI rose 0.8% yesterday<\/strong> on turnover of SAR 10.6 bn. The index is up 1.7% 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>Gasco (+10%), Atheeb Telecom (+10%) and Takween (+9.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Sisco Holding (-5.2%), Savola (-3.9%) and Extra (-3.1%).<\/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>Arab National Bank is planning a 33% capital hike<\/strong> to SAR 20 bn, up from SAR 15 bn through the issuance of one bonus share for every three shares owned in a bid to increase its liquidy, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZBNc4IwEIZ_iwePuisC0t6wavoBKqVWyKUTbERmQsIgyvjvG-yldNR2b9l5np03L1CIgEp2zFJWZUoyod8xtT8s10bj0cEFmRlTDGZ342AyJQN8MWHdBjBcWhpY-kMPX5GgDfQ_Pl4ZF__2aRtxfGJjMHeDhTGyEEPjN3Ah4hm4leFmCjKCZ6CpUMl3Ya5Mhk4KtORbXvKyfyj1eldVxf6-i12s67qfKpUK3t-ovIuXlJ3aVxC1yYZrrpyPVOyT1QehbSrUhgkOEZfXCC0XTJ7CU54oHWWADkKo8Vh3P_pRzPuDiTYuTOJ7zoBYFqyPGa9hJVWZ66-FTQ-CyRRiLb_pTm7KRb6KMHvq0eQ0FEdvOxnPe4Hb6XwBGaNBSA!!\/dz\/d5\/L0lDU0lLVUtVSkNncFJDZ3BSQ2lDbEVLSUtVU0ovWUJVRUFBQUlJTUlFQUNJQ0tJS0lHT0JPQkdPSkZKRkdKTk5ETkRMSUVFTkhIUEhQTEhBb0VLSW9FTUEhLzRKQ2lqc1l1T0lRU2t5RkpOUlRrS2FhaG10MnN0bk5Uelc3V1d3V29wVlVZb0EhIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9BTk5PVU5DRU1FTlRfTlVNQkVSLzc4MTQ3L2NvbXBhbnlTeW1ib2wvMTA4MC9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvYW5JZC9lbg!!\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The increase will capitalize SAR 5 bn from retained earnings and statutory reserves. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abdullah Al Othaim Markets <\/strong><strong>will disburse SAR 0.3 in interim dividends to shareholders <\/strong>for 2H 2023, it said in a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/34h8r855\" 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>Etihad Atheeb Telecommunication\u2019s (GO) OGM approved a c. 277.8% capital <\/strong><strong>increase by <\/strong><strong>issuing new shares<\/strong> in a bid to improve its systems and network, as well as pay off debt, it said in <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/2f44h5yp\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The company will issue 2.8 new shares for every existing share to increase its capital by SAR 250 mn to reach c. SAR 340 mn.<\/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\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/uber\/\">Uber<\/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=\"83271\" 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\/08\/83271\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83271\" class=\"content-area-description single-story post-83271 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 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>18-21 February<\/span><span> (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/restatex.com\/about-exhibition\/\" style=\"\">Restatex Riyadh Real Estate<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention and Exhibition Center, 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 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>19-21 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fomexsa.com\/en\" style=\"\">Future of Media Exhibition (FOMEX)<\/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>20 February-24 May (Tuesday-Friday): <\/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 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 style=\"font-weight:400;\"> 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>Gen X Saudis | Modern Mills, Avalon IPOs | Saudi Electricity\u2019s sukuk | KSA is one of 10 most competitive EM logistics markets<\/p>\n","protected":false},"featured_media":83244,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-83243","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ef9f6d66-1f6f-4e78-9213-628d8e02d77e","teaser":"Gen X Saudis | Modern Mills, Avalon IPOs | Saudi Electricity\u2019s sukuk | KSA is one of 10 most competitive EM logistics markets","photo_url":"https:\/\/ent.news\/2024\/2\/699.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast 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