{"id":83508,"date":"2024-02-18T00:00:00","date_gmt":"2024-02-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=83508"},"modified":"2025-12-14T17:24:56","modified_gmt":"2025-12-14T17:24:56","slug":"modern-mills-says-it-will-price-its-ipo-at-sar-44-48-per-share","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/modern-mills-says-it-will-price-its-ipo-at-sar-44-48-per-share\/","title":{"rendered":"Modern Mills says it will price its IPO at SAR 44-48 per share"},"content":{"rendered":"<section id=\"83510\" 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=\"83510\">\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\/18\/sama-confirms-founding-day-eid-holidays-ramadan-work-hours\/\">\r\n                            THIS MORNING: Sama confirms Founding Day, Eid holidays + Ramadan work hours in Saudi Arabia                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/sama-confirms-founding-day-eid-holidays-ramadan-work-hours\/\" target=\"_blank\">\n         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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83511\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/sama-confirms-founding-day-eid-holidays-ramadan-work-hours\/1637-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1637.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1637.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1637.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1637.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83510\" class=\"content-area-description single-story post-83510 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-acwa-power tag-eid-al-adha tag-eid-al-fitr tag-enterpriseam-ksa tag-general-entertainment-authority tag-iraq tag-pga-tour tag-pif tag-restatex-riyadh-real-estate-exhibition tag-saudi-arabia-monetary-authority tag-saudi-central-bank tag-saudi-smash tag-solar tag-table-tennis tag-tiger-woods tag-uppercase-legal-advisory tag-what-were-tracking-today tag-world-water-forum 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\/.c20b1253-4224-406a-b2f5-c9165295a8e0.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 welcome to what\u2019s shaping up to be a busy workweek <\/strong>as the pace picks up with just three weeks left until the first day of Ramadan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>PSA #1- It\u2019s a holiday-shortened week: <\/strong>We\u2019re four sleeps away from the weekend after the Ministry of Human Resources and Social Development confirmed Thursday, 22 February, is a national holiday for the private and public sectors in observance of Founding Day, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/2324647\" style=\"\" rel=\"noopener\">SPA<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>PSA #2- You may now make Eid plans:<\/strong> Banks and financial institutions will be off for Eid Al Fitr holiday from Friday, 5 April through Saturday, 13 April, <a target=\"_blank\" href=\"https:\/\/x.com\/SAMA_GOV\/status\/1758474784126439797?s=20\" style=\"\" rel=\"noopener\">Sama said on X<\/a> last week. They will also be off from 14 June to 22 June for the Eid Al Adha holiday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bank branch hours <\/strong>during the Holy Month of Ramadan will be from 10am through 4pm, Sama noted.<\/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\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong><a target=\"_blank\" href=\"https:\/\/restatex.com\/about-exhibition\/\" style=\"\" rel=\"noopener\">Restatex Riyadh Real Estate Exhibition<\/a><\/strong><strong> will open today in Riyadh<\/strong> and runs until Wednesday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Speaking of events: <\/strong>The Kingdom will host the World Water Forum in Riyadh in 2027, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2049197\" style=\"\" rel=\"noopener\">SPA<\/a> reported, after the forum\u2019s board opted to come here rather than go to Italy. The event is the largest international gathering in the industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Expect scattered clouds in Riyadh today<\/strong>, with a strong breeze in Jeddah and Dammam. <\/p>\n<ul>\n<li><strong>Riyadh:<\/strong> 21\u00b0C daytime \/ 13\u00b0C overnight<\/li>\n<li><strong>Jeddah:<\/strong> 28\u00b0C daytime \/ 19\u00b0C overnight<\/li>\n<li><strong>Dammam:<\/strong> 23\u00b0C daytime \/ 15\u00b0C overnight<\/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\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Acwa Power to sign solar plant agreement in Iraq:<\/strong>Acwa Power is set to sign a contract with Iraq's Electricity Ministry to build and operate a 1 GW solar power plant in Najaf, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/moeministry\/posts\/pfbid0FAnVyvVCaNZ7rfWgKR2QAQwv7Cvo4uqGa3xMpJcWxMKsUuWnQSirozGaxL3tyTbPl\" style=\"\" rel=\"noopener\">ministry statement<\/a> on Wednesday. The agreement had been <a target=\"_blank\" href=\"https:\/\/www.ina.iq\/203135--1000-.html\" style=\"\" rel=\"noopener\">delayed for three years<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More to come? <\/strong>Iraq has been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/fce4f4c9-42ea-483e-8573-cac3ae6d3893\" style=\"\" rel=\"noopener\">in talks with Acwa Power for a 1 GW solar plant<\/a> and with UAE\u2019s Masdar for another 1 GW project in its western regions. The country plans to sign agreements for 3.7 GW of renewable energy by the end of the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2-<\/strong><strong> A new fund to boost Arabic film content: <\/strong>The General Entertainment Authority (GEA) has launched an investment fund in what is says is a bid to raise the quality of Arabic firm content across the region, according to a <a target=\"_blank\" href=\"https:\/\/www.gea.gov.sa\/en\/big-time\/\" style=\"\" rel=\"noopener\">statement by the GEA<\/a> last week. The Big Time investment fund will focus on film production and distribution, according to the statement. It will see GEA as main sponsor and the Culture Ministry as co-sponsor. <strong>GEA did not disclose the size of the fund <\/strong>or say when it would begin investing. <\/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\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Global oil demand growth is losing steam, IEA says: <\/strong>The International Energy Agency (IEA) slashed its 2024 projection for global oil demand growth in its latest <a target=\"_blank\" href=\"https:\/\/www.iea.org\/reports\/oil-market-report-february-2024#overview\" style=\"\" rel=\"noopener\">monthly report<\/a>, It sees the pace of expansion decelerating further to 1.2 mn bpd this year from 2.3 mn bpd in 2023 on the back of a decline in consumption in China. It has previously forecast a global oil demand growth of 1.24 for 2024. \u201cThe expansive post-pandemic growth phase in global oil demand has largely run its course,\u201d it said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And we\u2019ll see supply grow: <\/strong>The IEA raised its forecasts for global oil supply in 2024, expecting it to grow by 1.7 mn bpd on the back of increased supply from non-OPEC+ countries \u2014 think shale producers in North America.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>The <\/strong><strong>first professional table tennis competition is coming to Jeddah in May: <\/strong>The \u201cSaudi Smash\u201d edition of the Grand Smash 2024 Table Tennis Championship kicks off at the King Abdullah Sports City on Wednesday, 1 May, featuring elite international players competing in singles and doubles (for men and women), and mixed doubles, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2048196\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Are you a fan?<\/strong> Check out World Table Tennis\u2019 <a target=\"_blank\" href=\"https:\/\/worldtabletennis.com\/description?artId=3423\" style=\"\" rel=\"noopener\">statement<\/a> for more. Saudi players will be awarded wildcards for a chance to compete against world champions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- A mixed message from Tiger Woods:<\/strong> Tiger Woods said that talks between the PGA Tour and the Public Investment Fund (PIF) are still ongoing, but hinted the tour thinks it could do without the sovereign wealth fund\u2019s cash, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/golf\/woods-says-pga-tour-negotiations-with-saudi-arabias-pif-ongoing-2024-02-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Woods is a member of the tour\u2019s policy board. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>His statements come amid speculation that the PGA Tour could walk away from its <\/strong><strong>proposed merger with PIF-backed Liv Golf <\/strong>and the European Tour after it secured <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ca44481a-c054-4afa-8de8-ffa5543c8e73\" style=\"\" rel=\"noopener\">earlier this month<\/a> a USD 3 bn investment from the Strategic Sports Group. The PIF and PGA Tour agreed to extend talks into this year after failing to agree on terms before a 31 December deadline.<\/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>The Saudi Capital Market Forum will open <\/strong><strong>tomorrow <\/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 priority summit in Miami <\/strong>starting Thursday, 22 February. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The annual tech event <\/strong><strong><a target=\"_blank\" href=\"https:\/\/onegiantleap.com\/\" style=\"\" rel=\"noopener\">LEAP<\/a><\/strong><strong> will open in Riyadh on Monday, 4 March <\/strong>and continue through Thursday, 7 March. Dubbed the \u201cDigital Davos\u201d, the event will bring together the global tech industry for discussions on the future of technology.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/acwa-power\/\">ACWA power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/eid-al-adha\/\">Eid Al Adha<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/eid-al-fitr\/\">Eid Al Fitr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/general-entertainment-authority\/\">General Entertainment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pga-tour\/\">PGA Tour<\/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\/restatex-riyadh-real-estate-exhibition\/\">Restatex Riyadh Real Estate Exhibition<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-arabia-monetary-authority\/\">Saudi Arabia Monetary Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-central-bank\/\">Saudi Central Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-smash\/\">Saudi Smash<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/solar\/\">solar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/table-tennis\/\">table tennis<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tiger-woods\/\">Tiger Woods<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/uppercase-legal-advisory\/\">Uppercase legal advisory<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/world-water-forum\/\">World Water Forum<\/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=\"83512\" 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=\"83512\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/modern-mills-sets-sar-44-48-per-share-range-for-ipo\/\">\r\n                            Saudi Arabia\u2019s Modern Mills sets SAR 44-48 range for IPO as bookbuilding begins                        <\/a>\r\n                    <\/h3>\r\n\r\n                   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   <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/modern-mills-sets-sar-44-48-per-share-range-for-ipo\/&title=Modern Mills sets SAR 44-48 per share range for IPO\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Modern+Mills+sets+SAR+44-48+per+share+range+for+IPO+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F18%2Fmodern-mills-sets-sar-44-48-per-share-range-for-ipo%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/modern-mills-sets-sar-44-48-per-share-range-for-ipo\/\">\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=\"83513\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/modern-mills-sets-sar-44-48-per-share-range-for-ipo\/701-jpg-3\/\" 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-83512\" class=\"content-area-description single-story post-83512 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-enterpriseam-ksa tag-ipo-watch tag-modern-mills-company-mmc tag-tadawul wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.c20b1253-4224-406a-b2f5-c9165295a8e0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Bookbuilding for Modern Mills Company (MMC)\u2019s IPO began on Thursday <\/strong>with the flour milling company setting a price range of SAR 44-48 per share for the sale, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/1582.pdf\" style=\"\" rel=\"noopener\">regulatory filing (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Demand for the IPO was strong:<\/strong> The order book was fully covered only hours after the start of the process, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-15\/modern-mills-holders-seeking-to-raise-314-million-in-saudi-ipo\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Modern Mills, previously known as Milling Company 3, received <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1166d950-af42-4a92-a7b1-737578d3fffc\" style=\"\" rel=\"noopener\">earlier this month<\/a> approval from the Capital Market Authority (CMA) for the offering, which is open to both institutional and individual investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The timeline for the transaction:<\/strong><\/p>\n<ul>\n<li><strong>Bookbuilding<\/strong> for institutional investors to run until Wednesday, 21 February;<\/li>\n<li><strong>Final price<\/strong> announced on Tuesday, 27 February;<\/li>\n<li><strong>Subscription period for individual investors<\/strong> from Tuesday, 5 March to Wednesday, 6 March.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MMC is looking to raise SAR 1.08 bn to SAR 1.178 bn from the offering<\/strong>, which will see it sell 30% of the company. The price range will see it have a market cap on the first day of trading in the SAR 3.6-3.9 bn range<\/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 (50% share pre-offering), Al Ghurair Foods Company (45% share pre-offering), and Masafi Company (5% share pre-offering).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MMC is one of two companies with an IPO in the market right now. <\/strong>Drugmaker Avalon Pharma <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-15\/modern-mills-holders-seeking-to-raise-314-million-in-saudi-ipo\" style=\"\" rel=\"noopener\">priced its IPO<\/a> at the top range as it looks to raise SAR 492 mn for a 30% stake.<\/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>ADVISORS- HSBC Saudi Arabia<\/strong> is quarterbacking the transaction as sole financial advisor, joint bookrunner, underwriter and lead manager alongside<strong> Emirates NBD Capital KSA<\/strong>. <strong>Moelis & Company Saudi<\/strong> will act as advisor to selling shareholders, while <strong>Al Rajhi Bank<\/strong> and <strong>SNB<\/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\"><strong>More to come? <\/strong>The Fourth Milling Company (MC4) has recently tapped Riyadh Capital as its financial advisor for an IPO in Tadawul, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-15\/saudi-arabia-s-fourth-milling-said-to-hire-riyad-capital-for-ipo\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported in January, with sources saying that the offering could happen in the first half of this year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/modern-mills-company-mmc\/\">Modern Mills Company (MMC)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tadawul\/\">Tadawul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83514\" 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=\"83514\">\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\">TOURISM<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/up-and-to-the-right-for-tourism-in-saudi\/\">\r\n                            UNWTO data shows Saudi tourism industry continues to grow                        <\/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\/18\/up-and-to-the-right-for-tourism-in-saudi\/\" 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\/18\/up-and-to-the-right-for-tourism-in-saudi\/')\">\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\/18\/up-and-to-the-right-for-tourism-in-saudi\/\">\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=Up and to the right for tourism in Saudi&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/up-and-to-the-right-for-tourism-in-saudi\/\">\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\/18\/up-and-to-the-right-for-tourism-in-saudi\/&title=Up and to the right for tourism in Saudi\">\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=Up+and+to+the+right+for+tourism+in+Saudi+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F18%2Fup-and-to-the-right-for-tourism-in-saudi%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\/18\/up-and-to-the-right-for-tourism-in-saudi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1630.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83515\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/up-and-to-the-right-for-tourism-in-saudi\/1630-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1630.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1630.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1630.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1630.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83514\" class=\"content-area-description single-story post-83514 post type-post status-publish format-standard has-post-thumbnail hentry category-tourism tag-enterpriseam-ksa tag-tourism tag-un-world-tourism-organization 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\/.c20b1253-4224-406a-b2f5-c9165295a8e0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi was among the world\u2019s best-performing destinations for tourist arrivals in 2023<\/strong>in comparison with 2019, welcoming 56% more international visitors, according to the <a target=\"_blank\" href=\"https:\/\/webunwto.s3.eu-west-1.amazonaws.com\/s3fs-public\/2024-01\/barometer-turism-data-ppt-jan24.pdf?VersionId=ua6xuwZCeveZWEzbIFVP5eXUmGszXhXs\" style=\"\" rel=\"noopener\">World Tourism Barometer report (pdf)<\/a> by the United Nations World Tourism Organisation (UNWTO) for January. The report zeroes in on 2019 as the pre-pandemic high water mark.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the list of \u201cbest-performing large destinations,\u201d Saudi ranks #1 <\/strong>when you measure by volume (or the growth in number of arrivals).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The challenge now: To get those tourists to spend more. <\/strong>The Kingdom doesn\u2019t make the list of best-performing destinations by growth in receipts, where Turkey (+59%), Portugal (+38%), and Morocco (+34%) come out on top. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re also the #3 market in terms of recovery of outbound spending <\/strong>(ie: nationals and folks living in Saudi, but traveling abroad), up 52% from before covid-19. Ukraine, Romania, the United Kingdom, and Norway rounded out the top five. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The global industry is yet to recover from covid-19<\/strong>, the data shows. Total receipts in the global industry were down 12% in 2023 compared to 2019, while total arrivals were down 7%. <strong>Still: That\u2019s progress. <\/strong>The industry down 25% from 2019 in total receipts in 2022. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And industry insiders think it\u2019s going to get better: <\/strong>63% of respondents in the Middle East to a UNWTO poll of experts think 2025 is going to be \u201cbetter\u201d or \u201cmuch better.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s weighing on the recovery? <\/strong>According to respondents to the poll:<\/p>\n<ul>\n<li>The economic environment: 69%<\/li>\n<li>Higher transport and accommodation costs: 55% <\/li>\n<li>Extreme weather events: 28%<\/li>\n<li>The war in Gaza: 24%<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> The Tourism Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4d43f6ce-8ecc-41b8-8135-0da085f9952c\" style=\"\" rel=\"noopener\">recently more than<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4d43f6ce-8ecc-41b8-8135-0da085f9952c\" style=\"\" rel=\"noopener\">doubled its tourism target for 2030<\/a>, hoping now to be host to 150 mn tourist trips after it hit last year an earlier target of 100 mn ahead of plan. The new 2030 target sees 80 mn by domestic travelers and 70 mn by international travelers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/un-world-tourism-organization\/\">UN World Tourism Organization<\/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=\"83516\" 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=\"83516\">\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\/18\/ksa-and-uae-lead-sovereign-sustainability-linked-bond-issuance-in-the-middle-east\/\">\r\n                            KSA and UAE lead sovereign sustainability-linked bond issuance in the Middle East                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/ksa-and-uae-lead-sovereign-sustainability-linked-bond-issuance-in-the-middle-east\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/ksa-and-uae-lead-sovereign-sustainability-linked-bond-issuance-in-the-middle-east\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/ksa-and-uae-lead-sovereign-sustainability-linked-bond-issuance-in-the-middle-east\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=KSA and UAE lead sovereign sustainability-linked bond issuance in the Middle East&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/ksa-and-uae-lead-sovereign-sustainability-linked-bond-issuance-in-the-middle-east\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/ksa-and-uae-lead-sovereign-sustainability-linked-bond-issuance-in-the-middle-east\/&title=KSA and UAE lead sovereign sustainability-linked bond issuance in the Middle East\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=KSA+and+UAE+lead+sovereign+sustainability-linked+bond+issuance+in+the+Middle+East+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F18%2Fksa-and-uae-lead-sovereign-sustainability-linked-bond-issuance-in-the-middle-east%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/ksa-and-uae-lead-sovereign-sustainability-linked-bond-issuance-in-the-middle-east\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83516\" class=\"content-area-description single-story post-83516 post type-post status-publish format-standard hentry category-debt-watch tag-debt-watch tag-enterpriseam-ksa tag-esg 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\/.c20b1253-4224-406a-b2f5-c9165295a8e0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Kingdom and UAE <\/strong><strong>are on track to remain the largest issuers of sovereign green <\/strong><strong>bonds in the region in 2024<\/strong>, according to a recent <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/1547.pdf\" style=\"\" rel=\"noopener\">S&P Global report (pdf)<\/a>. This will be driven by both government bodies and state-owned companies looking to meet net-zero targets, the report said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Green, social, sustainability, and sustainability-linked bond (GSSSB) issuance in the <\/strong><strong>Middle East reached a record USD 23 bn in 2023<\/strong>, doubling since 2022. This represents less than 3% of global issuance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sustainable sukuk issuances are expected to grow amid increased<\/strong><strong>investor demand <\/strong>and efforts by countries in the Muslim world to reduce their carbon footprints, S&P said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Most bond proceeds go towards renewable energy and hydrogen projects in the region<\/strong>, the report said. Investments in projects addressing water scarcity and heat waves are also anticipated to continue to drive issuance this year, the report added, cautioning that the extent of progress largely hinges on the pace of decarbonization strategies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The global stocktake: <\/strong>On a global scale, sovereign issuance is poised for another uptick in 2024, with S&P Global forecasting issuances to reach between USD 950 bn and USD 1.1 tn, propelled by robust national sustainability commitments and external backing. Issuances came in at USD 980 bn in 2023, with notable contributors like the UK, Germany, and Italy each surpassing USD 10 bn in issuances.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Out of all GSSSB issuances, green bonds will continue to reign supreme <\/strong>amid growing demand for environmental projects. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/esg\/\">ESG<\/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=\"83517\" 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=\"83517\">\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\">REGULATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/tax-incentives-for-companies-relocating-hqs-here-come-into-force\/\">\r\n                            Tax incentives for companies relocating HQs here come into force                        <\/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\/18\/tax-incentives-for-companies-relocating-hqs-here-come-into-force\/\" 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\/18\/tax-incentives-for-companies-relocating-hqs-here-come-into-force\/')\">\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\/18\/tax-incentives-for-companies-relocating-hqs-here-come-into-force\/\">\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=Tax incentives for companies relocating HQs here come into force&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/tax-incentives-for-companies-relocating-hqs-here-come-into-force\/\">\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\/18\/tax-incentives-for-companies-relocating-hqs-here-come-into-force\/&title=Tax incentives for companies relocating HQs here come into force\">\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=Tax+incentives+for+companies+relocating+HQs+here+come+into+force+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F18%2Ftax-incentives-for-companies-relocating-hqs-here-come-into-force%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\/18\/tax-incentives-for-companies-relocating-hqs-here-come-into-force\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1601.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83518\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/tax-incentives-for-companies-relocating-hqs-here-come-into-force\/1601-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1601.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1601.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1601.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1601.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83517\" class=\"content-area-description single-story post-83517 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation tag-enterpriseam-ksa tag-investment-watch tag-regional-headquarters tag-regulation tag-tax 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\/.c20b1253-4224-406a-b2f5-c9165295a8e0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Significant tax breaks for companies relocating their regional HQs have come into force:<\/strong>The Kingdom has unrolled tax incentives for foreign companies relocating their regional headquarters here, new tax rules published by the official gazette, <a target=\"_blank\" href=\"https:\/\/uqn.gov.sa\/details?p=24526\" style=\"\" rel=\"noopener\">Umm Al Qura<\/a>, showed last week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ironing out the details:<\/strong> The incentives include a 30-year exemption from corporate income tax on each company\u2019s approved activities in the Kingdom. License holders will also be able to make payments to entities outside Saudi without paying withholding tax. The 30-year no-tax window for the activities of the regional entity incorporated in KSA will open from the day the company\u2019s business license is issued until the lapse of the period or if the business ceases to be a regional HQ for any reason. The incentives are subject to renewal, the rules showed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And requirements:<\/strong> Foreign companies relocating their regional HQs here need to meet a set of requirements that includes:<\/p>\n<ul>\n<li>A <strong>valid license<\/strong> from the <strong>Investment Ministry<\/strong>. Business activities in the Kingdom need to fall within the scope of the license;<\/li>\n<li><strong>Have an office <\/strong>here;<\/li>\n<li><strong>The office needs to be staffed and managed here<\/strong> and BoD meetings must take place in KSA;<\/li>\n<li>Incurring <strong>operational expenses<\/strong> related to the regional office;<\/li>\n<li>Must generate <strong>revenue<\/strong>;<\/li>\n<li>Must have <strong>at least<\/strong> one resident director in the Kingdom.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fail to comply? <\/strong>You\u2019ll have a 90-day window to set things right and pay a SAR 100k fine. Mess up again within three years or fail to fix things, you\u2019ll face a fine of SAR 400k and could be on the road to losing your tax-exempt status. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The Kingdom had set a 1 January 2024 deadline for foreign firms to move their regional HQs here or run the risk of losing out on government contracts. The plan, a cornerstone of Crown Prince and Prime Minister Mohamed bn Salman\u2019s drive to build a diversified, globally significant non-oil economy, has been in the works since February 2021.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regional-headquarters\/\">regional headquarters<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regulation\/\">REGULATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tax\/\">tax<\/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=\"83519\" 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=\"83519\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">REGULATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/new-rules-on-how-individuals-can-jointly-develop-real-estate\/\">\r\n                            New rules for the real estate contributions law                        <\/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\/18\/new-rules-on-how-individuals-can-jointly-develop-real-estate\/\" 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\/18\/new-rules-on-how-individuals-can-jointly-develop-real-estate\/')\">\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\/18\/new-rules-on-how-individuals-can-jointly-develop-real-estate\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=New rules on how individuals can jointly develop real estate&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/new-rules-on-how-individuals-can-jointly-develop-real-estate\/\">\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\/18\/new-rules-on-how-individuals-can-jointly-develop-real-estate\/&title=New rules on how individuals can jointly develop real estate\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=New+rules+on+how+individuals+can+jointly+develop+real+estate+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F18%2Fnew-rules-on-how-individuals-can-jointly-develop-real-estate%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\/18\/new-rules-on-how-individuals-can-jointly-develop-real-estate\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1623.JPG?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83520\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/new-rules-on-how-individuals-can-jointly-develop-real-estate\/1623-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1623.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1623.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1623.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1623.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83519\" class=\"content-area-description single-story post-83519 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation tag-enterpriseam-ksa tag-real-estate tag-real-estate-general-authority-rega tag-regulation 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\/.c20b1253-4224-406a-b2f5-c9165295a8e0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Real Estate General Authority (REGA) is out with e<\/strong><strong>xecutive regulations for the <\/strong><strong>new<\/strong><strong>real estate contributions (REC) law<\/strong><strong>, which went into effect in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/laws.boe.gov.sa\/BoeLaws\/Laws\/LawDetails\/5efb6f40-d859-47e6-9c8a-b04500943ecc\/1\" style=\"\" rel=\"noopener\">July 2023<\/a><\/strong><strong>. <\/strong>The rules regulate how groups of five or more people can come together to develop a real estate project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A license to develop a project through contribution<\/strong> is based on the size of the project, requires a clear financial plan, and will need to have a qualified manager. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise? What\u2019s a real estate contribution?<\/strong> It\u2019s a financial strategy where individuals pool their resources to collectively invest in a property. Some might contribute cash, others could contribute in-kind assets (think: land) or services. Under the rules for the REC, any in-kind contribution needs to be valued by independent appraisers, while cash contributions will have to be deposited in an escrow account. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>They come in three sizes: <\/strong>A small contribution is worth less than SAR 50 mn, while a medium-sized one is in the SAR 50-300 mn range, and a large project is defined as being worth more than SAR 300 mn, according to the rules.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The regulations, in brief:<\/strong><\/p>\n<ul>\n<li>A REC has to have a minimum number of 5 contributors;<\/li>\n<li>RECs can have partial stakes and \/ or full ownership of properties; <\/li>\n<li>The licensee can contribute property instead of funds, only if the property will be made headquarters for the REC. After transferring the property to the REC, the licensee\u2019s stake in the REC will be in the form of ownership in the property they contributed, and after the first year they can choose to convert 50% of that into shares in the REC with all its managed properties;<\/li>\n<li>Only one REC can have the license of a certain property in a given period;<\/li>\n<li>Contributors must hold a stake of at least 5% in the REC;<\/li>\n<li>The Authority has ten days to review the license application and may ask for additional information.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate-general-authority-rega\/\">Real Estate General Authority (REGA)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regulation\/\">REGULATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83521\" 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=\"83521\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/inflation-slightly-up-1-6-in-january-backed-by-rents\/\">\r\n                            Saudi inflation edged up to 1.6% in January thanks to rising rent prices                        <\/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\/18\/inflation-slightly-up-1-6-in-january-backed-by-rents\/\" 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\/18\/inflation-slightly-up-1-6-in-january-backed-by-rents\/')\">\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\/18\/inflation-slightly-up-1-6-in-january-backed-by-rents\/\">\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=Inflation slightly up 1.6% in January, backed by rents&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/inflation-slightly-up-1-6-in-january-backed-by-rents\/\">\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\/18\/inflation-slightly-up-1-6-in-january-backed-by-rents\/&title=Inflation slightly up 1.6% in January, backed by rents\">\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=Inflation+slightly+up+1.6%25+in+January%2C+backed+by+rents+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F18%2Finflation-slightly-up-1-6-in-january-backed-by-rents%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\/18\/inflation-slightly-up-1-6-in-january-backed-by-rents\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1594.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83522\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/inflation-slightly-up-1-6-in-january-backed-by-rents\/1594-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1594.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1594.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1594.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1594.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83521\" class=\"content-area-description single-story post-83521 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-consumer-price-index-cpi tag-economy tag-enterpriseam-ksa tag-inflation 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\/.c20b1253-4224-406a-b2f5-c9165295a8e0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Inflation slightly up in first month of the year<\/strong><strong>:<\/strong>Inflation inched up to 1.6% in January 2024, slightly up from the 1.5% rate the previous month, according to the latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/1585.pdf\" style=\"\" rel=\"noopener\">General Authority for Statistics (GASTAT) figures (pdf)<\/a>. The slight uptick in inflation last month ended a seven-month downward trend seen in most of 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Once again, rent is the culprit: <\/strong>Housing rents were up 9.3% in January, reflecting an 8.2% rise in the price of villas, according to the report, while prices of housing, water, electricity, gas and other fuels spiked by 7.8%. Food and beverages prices were up by 1% on the back of a 3.7% increase in vegetables prices, while restaurant and hotel prices were up 2.4% due to a 2.1% increase in catering services prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Furniture, clothes and transportation are cheaper: <\/strong>Clothing and footwear prices declined by 4.1% y-o-y in January \u2014 the sharpest decline amongst all items as garment prices plunged by 6.3%. This was followed by 3.3% decline in the price of furnishing and household equipment, and a 1.1% drop in transport prices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a monthly basis, inflation was basically flat:<\/strong> Consumer prices marginally rose 0.3% m-o-m in January, reflecting the 1.1% m-o-m bump in housing, water, electricity and gas prices compounded by a 0.3% m-o-m uptick in the price of food and beverages. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outlook: <\/strong>Inflation is forecasted to continue cooling down to 1% y-o-y by mid-2024, according to a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6f8e2fe3-e61e-44ba-94cb-d5b13bd94ad4\" style=\"\" rel=\"noopener\">report by Capital Economics<\/a> in January. While it\u2019s possible we could see it tick up again in 2H 2024, it will cool again by the start of 2025, the report read. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PRODUCER PRICES-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Producer prices rose 4.3% y-o-y in January driven by a 34% surge in basic chemicals<\/strong> and a 12% increase in refined petroleum products, according to the latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/1590.pdf\" style=\"\" rel=\"noopener\">Gastat figures (pdf)<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/consumer-price-index-cpi\/\">Consumer Price Index (CPI)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/inflation\/\">Inflation<\/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=\"83523\" 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=\"83523\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/mithaq-capital-is-the-new-majority-owner-of-us-retailer-childrens-place-plus-tamimi-markets-acquires-100-of-al-raya\/\">\r\n                            Mithaq Capital is the new majority owner of US retailer Children\u2019s Place. PLUS: Tamimi markets acquires 100% of Al Raya                        <\/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\/18\/mithaq-capital-is-the-new-majority-owner-of-us-retailer-childrens-place-plus-tamimi-markets-acquires-100-of-al-raya\/\" 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\/18\/mithaq-capital-is-the-new-majority-owner-of-us-retailer-childrens-place-plus-tamimi-markets-acquires-100-of-al-raya\/')\">\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\/18\/mithaq-capital-is-the-new-majority-owner-of-us-retailer-childrens-place-plus-tamimi-markets-acquires-100-of-al-raya\/\">\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=Mithaq Capital is the new majority owner of US retailer Children\u2019s Place. PLUS: Tamimi markets acquires 100% of Al Raya&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/mithaq-capital-is-the-new-majority-owner-of-us-retailer-childrens-place-plus-tamimi-markets-acquires-100-of-al-raya\/\">\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\/18\/mithaq-capital-is-the-new-majority-owner-of-us-retailer-childrens-place-plus-tamimi-markets-acquires-100-of-al-raya\/&title=Mithaq Capital is the new majority owner of US retailer Children\u2019s Place. 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Shares pared their losses following Mithaq Capital\u2019s announcement. <\/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\">IN OTHER M&A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PIF-backed <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.tamimimarkets.com\/\" style=\"\" rel=\"noopener\">Tamimi Markets<\/a><\/strong><strong> completes Al Raya takeover<\/strong>, acquiring 100% of the supermarket chain, it said in a <a target=\"_blank\" href=\"https:\/\/www.tamimimarkets.com\/News\" style=\"\" rel=\"noopener\">press<\/a><a target=\"_blank\" href=\"https:\/\/www.tamimimarkets.com\/News\" style=\"\" rel=\"noopener\">release<\/a>. Al Raya was majority owned by Levant Capital and it currently operates 51 stores across 20 cities. Information about the size of the transaction wasn\u2019t made public.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong><strong>ANB Capital <\/strong>quarterbacked the transaction as Tamimi\u2019s sole financial advisor, and<strong>Mohanned bin Saud Al-Rasheed in Association with Baker Botts<\/strong> acted as its legal counsel. <strong>BNP Paribas<\/strong> acted as sole financial advisor to Al Raya and <strong>Eversheds Sutherland <\/strong>acted as legal advisor.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-rajhi\/\">Al Rajhi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-raya\/\">Al Raya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/childrens-place\/\">Children&#039;s Place<\/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\/mithaq-capital\/\">Mithaq Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/retail\/\">Retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tamimi-markets\/\">Tamimi Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83525\" 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=\"83525\">\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\">SOLAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/acwa-power-gears-up-to-draw-usd-2-3-bn-loan-for-solar-projects\/\">\r\n                            Acwa Power gears up to draw USD 2.3 bn loan for solar projects                        <\/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\/18\/acwa-power-gears-up-to-draw-usd-2-3-bn-loan-for-solar-projects\/\" 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\/18\/acwa-power-gears-up-to-draw-usd-2-3-bn-loan-for-solar-projects\/')\">\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\/18\/acwa-power-gears-up-to-draw-usd-2-3-bn-loan-for-solar-projects\/\">\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=Acwa power gears up to draw USD 2.3 bn loan for solar projects&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/acwa-power-gears-up-to-draw-usd-2-3-bn-loan-for-solar-projects\/\">\n                    X         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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1609.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1609.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1609.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1609.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83525\" class=\"content-area-description single-story post-83525 post type-post status-publish format-standard has-post-thumbnail hentry category-solar tag-acwa-power tag-banque-saudi-fransi tag-enterpriseam-ksa tag-hsbc tag-mizuho-bank tag-riyad-bank tag-saudi-awwal-bank tag-saudi-national-bank tag-solar tag-standard-chartered-bank 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\/.c20b1253-4224-406a-b2f5-c9165295a8e0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Renewable energy giant Acwa Power has met the conditions required to draw a USD 2.3 <\/strong><strong>bn <\/strong><strong>loan to finance three solar projects<\/strong> in Saudi Arabia, 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_xQVbWlEQ3WFUjI8IEiPOxgw6jiQwQ3CU8PeOutL46q7tubc3BQIxEEEvKacqlYJmut8QZ2t7DlpjFxf-yBpiOOr2w8HQb-K0DetnAKPA1kAwb81wiT46QP7R44fy8LeefEX8zivwJuId-JJhAoRnMnn8wxNJy-VASnZgJSvNc6nHR6WKU89AA6uqMrmUPGPmTuYGvpMc5UlB_EzeuJvL3UTRPa3OmVYTvSqoqKM6T6Q-ZKFrQcQEFPkqxjTI166yk7bXuAIhtYSO\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODI0Ny9jb21wYW55U3ltYm9sLzIwODIvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> last week. Lenders include our friends at HSBC as well as Banque Saudi Fransi, Mizuho Bank, Riyad Bank, SNB, Standard Chartered, and SAB. The solar plants were originally expected to reach a financial close in 3Q 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong> Acwa Power <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/6824df2c-15b3-4392-acaa-d1721d4130b6\" style=\"\" rel=\"noopener\">signed power purchase agreements<\/a> with the Saudi Power Procurement Company to develop and operate three solar energy projects with a 4.5 GW capacity last May. Acwa and Badeel, which is backed by the Public Investment Fund (PIF), will jointly own the projects, with Acwa holding a 50.1% stake and Badeel 49.9%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the projects:<\/strong> Worth a combined USD 3.4 bn, the projects will include the 2 GW Ar Rass 2 solar farm, the 1.12 GW Saad 2 PV plant, and the 1.42 Al Kahfah solar project and will generate enough electricity to power the equivalent of 750k households in the Kingdom once operational. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa has more in the works:<\/strong> The company is also currently developing Saudi\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a55483f3-95f6-4f31-bc1a-df5e9f40762b\" style=\"\" rel=\"noopener\">USD 2.2 bn<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a55483f3-95f6-4f31-bc1a-df5e9f40762b\" style=\"\" rel=\"noopener\">Al Shuaibah 1 and Al Shuaibah 2 PV projects<\/a> with capacities of 900 MW and 2.06 GW respectively. Acwa and Badeel are also developing the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/725d5506-fb58-4fa5-a10e-6e5494ece33a\" style=\"\" rel=\"noopener\">Shuaibah 3<\/a> seawater reverse osmosis desalination project.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/acwa-power\/\">ACWA power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/banque-saudi-fransi\/\">Banque Saudi Fransi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hsbc\/\">HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mizuho-bank\/\">Mizuho Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/riyad-bank\/\">Riyad Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-awwal-bank\/\">Saudi Awwal Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-national-bank\/\">Saudi National Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/solar\/\">solar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/standard-chartered-bank\/\">Standard Chartered Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83527\" 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=\"83527\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/americana-solutions-by-stc-report-results-for-2023\/\">\r\n                            Americana, Solutions by STC report results for 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\/18\/americana-solutions-by-stc-report-results-for-2023\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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USD 259.5 mn (c. <\/strong><strong>SAR 973 mn)<\/strong>, its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/1579.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a> showed. Revenues were up c. 1.5% y-o-y in the same period to USD 2.4 bn (c. SAR 9 bn) on the back of a \u201crecord gross 300 new store openings'' last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s FX crunch + geopolitical tensions impact results: <\/strong>Americana said it \u201cdemonstrated resilient performance despite USD 106 mn impact of unfavorable FX movements, especially in Egypt, and impact on business during the fourth quarter due to recent regional geopolitical tensions\u201d.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Americana\u2019s BoD has proposed a dividend of SAR 0.0154 per share for eligible <\/strong><strong>shareholders<\/strong> for 2023, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMzA0FQ_ODVPvyA3NMIgMyA3XNdREQC740Rt\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODI2Mi9jb21wYW55U3ltYm9sLzYwMTUvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. They have also proposed a one-time special dividend of SAR 0.0059 per share, it showed. A distribution date will be announced at a later date, it added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Solutions by STC\u2019s net income rose 13.2% <\/strong><strong>y-o-y<\/strong><strong> to SAR 1.2 bn in 2023<\/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\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyNzIwEg_ODVPvyA3NMIgMyA3XNdREQCVnJwO\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODI2Ni9jb21wYW55U3ltYm9sLzcyMDIvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> last week. Its revenues were up 25.4% y-o-y in the same period to SAR 11 bn. The tech company is 79% owned by telecom giant stc.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Revenues grew last year on the back of a 25.6% increase in its <\/strong><strong>c<\/strong><strong>ore ICT services<\/strong>, 40% increase in IT managed and operational services, and a 4.7% increase in its digital services. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The tech subsidiary has proposed a dividend of SAR 6 per share for eligible <\/strong><strong>shareholders<\/strong> for 2023, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyNzIwEg_ODVPvyA3NMIgMyA3XNdREQCVnJwO\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODI2OC9jb21wYW55U3ltYm9sLzcyMDIvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. A distribution date will be announced at a later date, it added.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/americana\/\">Americana<\/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\/solutions-by-stc\/\">Solutions by stc<\/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=\"83529\" 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=\"83529\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/vamos-rafa-again-and-again\/\">\r\n                            Vamos Rafa again and again                        <\/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\/18\/vamos-rafa-again-and-again\/\" 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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Not at all, it will not change my life. I have not signed a super contract, like other fellow athletes who are there, and I totally respect them,\u201d he said. \u201cMy commitment is to promote tennis and try to achieve my goals. I don\u2019t think Arabia needs me to wash its image. It is not my objective. People tend to give their opinions without asking questions,\u201d he said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/rafael-nadal\/\">Rafael Nadal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-tennis-federation\/\">Saudi Tennis Federation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tennis\/\">tennis<\/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=\"83531\" 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=\"83531\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/mawani-completes-sar-1-bn-jeddah-islamic-port-upgrade-cenomi-opens-u-walk-jeddah\/\">\r\n                            Mawani completes SAR 1 bn Jeddah Islamic port renovations + Cenomi opens U Walk Jeddah                        <\/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\/18\/mawani-completes-sar-1-bn-jeddah-islamic-port-upgrade-cenomi-opens-u-walk-jeddah\/\" 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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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83532\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/mawani-completes-sar-1-bn-jeddah-islamic-port-upgrade-cenomi-opens-u-walk-jeddah\/1602-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1602.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1602.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1602.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1602.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83531\" class=\"content-area-description single-story post-83531 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-advanced-petrochemical-co tag-al-hassan-ghazi-ibrahim-shaker tag-also-on-our-radar tag-alula tag-aviation tag-bena-steel tag-cenomi-centers tag-education tag-energy tag-enterpriseam-ksa tag-evs tag-ladun tag-lg-electronics tag-logistics tag-lucid tag-manufacturing tag-petrochemicals tag-red-sea-development tag-retail tag-saudi-ports-authority-mawani tag-saudi-vitrified-clay-pipes 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\/.c20b1253-4224-406a-b2f5-c9165295a8e0.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\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi <\/strong><strong>Ports Authority Mawani has wrapped up the expansion of the the northern part of <\/strong><strong>Jeddah <\/strong><strong>Islamic port,<\/strong> doubling up the size of its Red Sea Gateway Terminal to 15 mn sqm and boosting its capacity to 6.2 mn TEU containers, up from 2.5 mn, it said in a <a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=150224\" style=\"\" rel=\"noopener\">press<\/a><a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=150224\" style=\"\" rel=\"noopener\">release<\/a> last week. The Terminal will now accommodate large vessels with a draft of up to 17 meters. The update work in partnership with Red Sea Gateway Terminal (RSGT cost SAR 1 bn and was executed under a build, operate, and transfer contract. <\/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\">RETAIL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our <\/strong><strong>friends at Cenomi Centers <\/strong><strong><a target=\"_blank\" href=\"http:\/\/linkedin.com\/posts\/rayanhajjaji_grandopening-uwalkjeddah-activity-7164371518288785408-4pz5\" style=\"\" rel=\"noopener\">marked<\/a><\/strong><strong> the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/fardaws-%D9%81%D8%B1%D8%AF%D9%88%D8%B3-%D8%A7%D9%84%D8%B4%D8%B1%D9%8A%D9%81-alshareef-mpa-5061b0128_it-was-great-pleasure-to-participate-in-cenomi-activity-7164307599482314752-m7lx\/\" style=\"\" rel=\"noopener\">grand opening<\/a><\/strong><strong> of U Walk Jeddah shopping <\/strong><strong>mall on <\/strong><strong>Thurs<\/strong><strong>day<\/strong>. The lifestyle destination features indoor and outdoor experiences, including shopping, food, and entertainment. It also features global retail brands, an open-air walkway and an indoor boulevard. The soft opening took place in December 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\">PETROCHEMICALS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advanced Petrochemical Co.<\/strong><strong> has signed engineering, procurement and engineering <\/strong><strong>contracts worth USD 191.3 mn to set up <\/strong>an isopropanol facility in Jubail Industrial City, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1705962\" style=\"\" rel=\"noopener\">Argaam<\/a> reported yesterday, citing an emailed statement from the company. The plant, which will have an annual production capacity of 70k tons, will utilize manufacturing technologies sourced from German conglomerate Thyssenkrupp. Commercial operations are slated to start in the fourth quarter of 2026.<\/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\">EDUCATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ladun subsidiary Built Industrial is slated to build a school in Turtle Bay Village <\/strong>under a SAR 131 mn agreement with PIF subsidiary <a target=\"_blank\" href=\"https:\/\/www.redseaglobal.com\/en\/\" style=\"\" rel=\"noopener\">Red Sea Development<\/a>, the real estate player 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\/jZBND8FAEIZ_i0OvnaG2yq2Cio8ojai9yJa1mrS7TS2Nf29xIr7mNjPP-86bAQoxUMnOqWA6VZJlpl9Td0N8FxtDD2fBoNHH-aDdnff6QR3HTVg9AxiFxADh1JngAgN0gf6jxw_l4289_YoErVfgTcQ78CXDCKjIVPL4hy8TxxNAS77nJS_tU2nGB62LY8dCC6uqsoVSIuP2VuUWvpMc1FFD_EzeuJvL3USzHatOmVFTsyqYvESXPFHmUJs4BCIuociXMaZhvvI0SZp-7QrmL8Rs\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODI2NS9jb21wYW55U3ltYm9sLzk1MzUvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure<\/a> to Tadawul last week. The contract will be valid for 18 months and will see the contractor build a kindergarten, a primary school, a nursery, as well as arts and sports facilities.<\/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\">STARTUP WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fifteen<\/strong><strong> local, regional and global startups<\/strong><strong> have graduated from the Generative AI <\/strong><strong>Accelerator program (Gaia) program\u2019s second cohort<\/strong>, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2048500\" style=\"\" rel=\"noopener\">SPA<\/a> reported last week. The program, launched in <a target=\"_blank\" href=\"https:\/\/gaia.newnative.ai\/news-blog\/gaia-launch\" style=\"\" rel=\"noopener\">August last year,<\/a> is backed by the Saudi Data and Artificial Intelligence Authority and the National Program for Information Technology Development. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Home appliances manufacturer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/shaker.com.sa\/\" style=\"\" rel=\"noopener\">Al Hassan Ghazi Ibrahim Shaker<\/a><\/strong><strong> will <\/strong><strong><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-oyNDI0EQ_ODVPvyA3NMIgMyA3XNdREQCOpT8h\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODI2NC9jb21wYW55U3ltYm9sLzEyMTQvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">explore<\/a><\/strong><strong> with LG <\/strong><strong>Electronics<\/strong> and the Investment Ministry the economic viability of localizing the AC compressor industry, the company said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/1569.pdf\" style=\"\" rel=\"noopener\">a press release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/1569.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. No further information was provided. The two companies established a factory to manufacture AC units in Riyadh <a target=\"_blank\" href=\"https:\/\/www.arabnews.pk\/node\/308467\/1000\" style=\"\" rel=\"noopener\">in 2008<\/a>. The Investment Ministry <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1705939\" style=\"\" rel=\"noopener\">said<\/a> the move, if it goes ahead, could pave the way for the local manufacturing of other appliances.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Saudi Vitrified Clay Pipes (SVCP) has inked a MoU with Qatar\u2019s Laffan <\/strong><strong>Pipes Factory <\/strong><strong>to set up a joint venture<\/strong> that would produce and sell high-density pipe products, rubber and plastic products, and plastic sewer covers, it said in <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/ypwjd7np\" style=\"\" rel=\"noopener\">a statement to Tadawul<\/a>. SVCP will hold a 55% stake, and Laffan Pipes hold 45%. No further information was disclosed.<\/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\">ELECTRIC VEHICLES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PIF-backed Lucid plans to offer a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/lucidmotors.com\/stories\/better-charging-at-home\" style=\"\" rel=\"noopener\">charging allowance<\/a><\/strong><strong> of SAR 3.75k to customers here <\/strong>to encourage them to purchase its Lucid home charger from its certified vendor in the local market, it told <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/02\/15\/article_2700516.html\" style=\"\" rel=\"noopener\">Al Eqtisadiah<\/a> last week. The move comes under its efforts to drive up sales and growth.<\/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\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bena Steel Industries has extended a non-binding MoU that could see it acquire a 40% <\/strong><strong>stake in British energy solutions provider Alderley<\/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\/ldBNC4JAEAbgX-MxdtJcs9tKuiWGmoS2l1grTHB3PVjhv2-pk2Bfcxt4XnhnEEMFYpLf6op3tZK80fue4YNNMJirOcQxcR1Ig9Cj64hYfjpD-RDQwPQ1cL106dMpUAexv_KQJbYGycaKYAsU8G95eDMEvufZkIxcMAQjFZ_gQ4cQsapR5eufl65rFwYY0PETv18bQ3c8KtFy2We9KJVGro0tlJ0lasVuV0CdiHxCHof8UiE!\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODI3My9jb21wYW55U3ltYm9sLzk1NjMvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> last week. No further details were provided on the MoU, which was first signed in June. Bena Steel also extended a separate agreement with Alderley on clean energy, <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/ldBNC4JAEAbgX-MxdtJcs9tKuiWGmoS2l1grTHB3PVjhv2-pk2Bfcxt4XnhnEEMFYpLf6op3tZK80fue4YNNMJirOcQxcR1Ig9Cj64hYfjpD-RDQwPQ1cL106dMpUAexv_KQJbYGycaKYAsU8G95eDMEvufZkIxcMAQjFZ_gQ4cQsapR5eufl65rFwYY0PETv18bQ3c8KtFy2We9KJVGro0tlJ0lasVuV0CdiHxCHof8UiE!\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODI3My9jb21wYW55U3ltYm9sLzk1NjMvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">it said<\/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\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Jeddah\u2019s <\/strong><strong>King Abdulaziz International Airport rolled out the red carpet for the <\/strong><strong>first-ever direct flight from Turkmenistan\u2019s Ashgabat<\/strong>, <a target=\"_blank\" href=\"https:\/\/saudigazette.com.sa\/article\/640480\/SAUDI-ARABIA\/King-Abdulaziz-International-Airport-welcomes-inaugural-flight-from-Turkmenistan\" style=\"\" rel=\"noopener\">Saudi Gazette<\/a> reported last week. The new route runs three days a week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- AlUla welcomed the first direct flight by Royal Jordanian from Amman<\/strong>, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2049041\" style=\"\" rel=\"noopener\">SPA<\/a> reports. Royal Jordanian will operate two flights weekly between Amman and AlUla.<\/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\">CULTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Culture Ministry inked a five-year executive program with the British Scienc<\/strong><strong>e <\/strong><strong>Museum Group, <\/strong>state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2048446\" style=\"\" rel=\"noopener\">SPA<\/a> reports. The program aims to bolster cultural cooperation and exchange and knowledge transfer and training on museums. The British museum group comprises London\u2019s Science Museum, York\u2019s National Railway Museum, Shildon\u2019s Locomotion, Bradford\u2019s National Science and Media Museum and Manchester\u2019s Science and Industry Museum, according to its <a target=\"_blank\" href=\"https:\/\/www.sciencemuseumgroup.org.uk\/about-us\" style=\"\" rel=\"noopener\">website<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/advanced-petrochemical-co\/\">Advanced Petrochemical Co.<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-hassan-ghazi-ibrahim-shaker\/\">Al Hassan Ghazi Ibrahim Shaker<\/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\/alula\/\">AlUla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/bena-steel\/\">Bena Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cenomi-centers\/\">Cenomi Centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/lucid\/\">Lucid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/petrochemicals\/\">petrochemicals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/red-sea-development\/\">Red Sea Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/retail\/\">Retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-ports-authority-mawani\/\">Saudi Ports Authority (Mawani)<\/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\/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=\"83533\" 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=\"83533\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/ai-stock-rally-accounts-for-96-of-net-worth-gained-on-bloombergs-billionaire-index-in-2024\/\">\r\n                            AI stock  rally accounts for 96% of net worth gained on Bloomberg\u2019s Billionaire Index in 2024                        <\/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 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1627.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1627.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1627.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1627.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83533\" class=\"content-area-description single-story post-83533 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-ai tag-enterpriseam-ksa tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.c20b1253-4224-406a-b2f5-c9165295a8e0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>AI is making the rich richer:<\/strong> A rally in AI-related stocks has boosted the net worth of 30 of the world\u2019s 500 wealthiest individuals on Bloomberg\u2019s Billionaires Index by a combined USD 124 bn this year so far, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-14\/nvidia-founder-s-cousin-turning-billionaire-shows-ai-wealth-boom?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> The increased net worth of these 30 billionaires on the back of AI-related stocks accounts for 96% of the total wealth gained on the index of the world\u2019s 500 richest people.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But, the gains may not be sustainable: <\/strong>The sheer magnitude of the stocks\u2019 rally has raised questions over the market\u2019s gains, with Bank of America strategist Michael Hartnett drawing parallels to the dot-com bubble of the late 1990s.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING-<\/strong><\/p>\n<ul>\n<li><strong>Wall Street appears to be all in on the shale industry<\/strong>, a sector that it had previously overlooked, reports <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-17\/wall-street-is-warming-to-big-shale-after-250-billion-of-deals?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Oil companies are increasingly joining forces \u2014 including a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/diamondback-energy-buy-endeavor-energy-26-billion-deal-2024-02-12\/\" style=\"\" rel=\"noopener\">USD 26 bn merger<\/a> last week \u2014 to meet Wall Street\u2019s demand for scale, efficiency and cash returns, ushering in a new era for the shale industry. <\/li>\n<\/ul>\n<p><a target=\"_blank\" id=\"t.962161a1f0e1a0660fe3f314b078befa3a3892fe\" 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<tbody>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">12,484.59<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +4.3%)<\/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>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\">1,609.82<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +3.8%)<\/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\">28,926.15<\/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: +16.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,427.01<\/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: -1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,258.78<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +4.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,005.57<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +4.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,711.71<\/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\">+1.5% (YTD: -0.3%)<\/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>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\">4,765.65<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +5.4%)<\/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\">83.47<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1.61<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.8%<\/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\">2,024.10<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">51,653.67<\/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: +112.7%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI rose 0.4% yesterday<\/strong> on turnover of SAR 10.3 bn. The index is up 4.3% 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>Sidc (+10%), Americana (+9.8%) and Ayyan (+9.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Chubb (-5.2%), Takween (-4.4%) and Lumi (-2.7%).<\/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>Tadawul-listed pipe manufacturer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.amiantit.com\/en\/\" style=\"\" rel=\"noopener\">Amiantit<\/a><\/strong><strong> is going ahead with a rights issue <\/strong>in a bid to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDNDoJADISfxQNXWkEQvWFEjD8RNAbYi1kUVxJgCa4S395VTxpEe2v7zXRSIBACKeg1ZVSkvKCZ7CNi7gzbRG1q4cqdaA76k8HIHztuF-c9CN4B3HiGBLylvsA1umgC-UePX8rG33rSirj9T6Ah4hNoyTADwjIev_5hF7FuMSBVckyqpFIvlRyfhCjPQwUVrOtaZZyzLFH3PFewSXLiZwHhO_ngHi5PE0EPtL5kUk3kqqTFbXPLYy4PaV0Tocy3IaZeHljCiOxO5w46Ym41\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODI2My9jb21wYW55U3ltYm9sLzIxNjAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">raise the capital it needs<\/a> to settle debt owed to Saudi National Bank. Amiantit separately <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZFPj4IwEMU_yx682gFiwb0hYsUIiMAKvZiyIpLlj0GUuJ9-qyabiGLsre3vzbw3gygKEC3YKU1YnZYFy_g9pHg9UDGIUwVsmHoaYHAJ9j1FGBsSWrUAdzEAZ7IwpTksgQBG9B09dBwV3tP_A4pJMDiW6tiiPADy9Yae3iNkIuo8wXDkjHUiAJHbwJOIV-BVhpcuRNwGbHUo8xazETHmqqTgBw-PMWeIJlkZ3VamFpGkJIhW8Tau4qp_rPjzrq73h88e9KBpmn5SlkkW97_LvAfPJLvyUKPgnrxwlyrXIjXbsOaYcTXlX3tWnN1zHpW8kShg6EJZUWiMFxa6AWODAlkRsYRCvlu5c2wORqtTGjfIL8oq58Hdy5RUy7J9S9NN3fLWlm-O9CUKb-Vo22l4derx0b7s4sYF2ue-H0BqpIt8pdSD6Cxlp1yLfrc_6scfOLtGng!!\/dz\/d5\/L0lJS2FZQSEhL3dMTUFBc1FBaWpNQy80TmxHb3hBIS9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy83ODI1Mw!!\/\" style=\"\" rel=\"noopener\">said<\/a> that Alinma Bank has forgiven debt Amiantit owes the lender in return for 100% of the manufacturer\u2019s stake in subsidiary <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZFNb4JAEIZ_Sw-eZ4CwYG8L4ooREIECezFLbSwJXzFU47_vVpMmxWLY2ybPO_M-GeCQAW_EuTyKvmwbUcl_zslepwTVlYkBrmIbCUaMJLGpLFwN0gEQbXUMl1tP2-AOGRLgU_I48ihOy_8CpscIhj4NA9XQkb1NyPO_CFuqjjSYW-HCYQoyYwj8o3gDnjk8baGSIRDQuSFXrC3mbqhmkocOj5pr4MeqLe4n--z77nWGM-zFQVy-qpms8N7WnWiu0bUuWgmpCsExVDSNLXrIlHHAPUBmGAQRcnkAY9QtJJCey48LJE17qmW76EeF-n6Q-LbjOX689xPPcnaQ38fxYdP81jSW_k-3ROIEXZ0kGZZuua1Ts9cL_Vibmk5fvgHcCZ1s\/dz\/d5\/L0lHSkovd0RNQUxrQUVnQSEhLzROVkUvZW4!\/\" style=\"\" rel=\"noopener\">International Infrastructure Management and Operation<\/a>. Shareholders will be asked to vote on the rights issue at an extraordinary general meeting on Tuesday, 20 February. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wasatah Capital will distribute a dividend of SAR 0.40 to unitholders<\/strong><strong> of Alwaha REIT fund <\/strong>for the second half of the year, it said in <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/yp6zmjcs\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The payment date will be within 15 working days from a record date of Tuesday, 20 February.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>City Cement will distribute a dividend of SAR 0.40 to eligible shareholders<\/strong> for the second half of 2023, 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-oyNjAwFg_ODVPvyA3NMIgMyA3XNdREQBDWPk5\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODI0My9jb21wYW55U3ltYm9sLzMwMDMvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The payment date was set for Monday, 4 March.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83535\" 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=\"83535\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/post-war-talk-dominates-at-munich-security-conference\/\">\r\n                            Post-war talk dominates at Munich Security Conference                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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           \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/post-war-talk-dominates-at-munich-security-conference\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1629.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83536\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/post-war-talk-dominates-at-munich-security-conference\/1629-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1629.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1629.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1629.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1629.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83535\" class=\"content-area-description single-story post-83535 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-enterpriseam-ksa tag-faisal-bin-farhan tag-saudi-canada-relations tag-saudi-turkey-relations tag-saudi-us-relations wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.c20b1253-4224-406a-b2f5-c9165295a8e0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re already talking post-Gaza war:<\/strong> Foreign Minister Prince Faisal bin Farhan took part in a meeting in Munich aimed at outlining a post-Gaza plan with regional and European counterparts. \u201cNow the priority must be ending the current humanitarian catastrophe that is happening in Gaza\u2026we\u2019re focused on a ceasefire, we\u2019re focused on an Israeli withdrawal from Gaza and humanitarian access\u2026,\u201d he said in remarks during the Munich Security Conference yesterday (<a target=\"_blank\" href=\"https:\/\/twitter.com\/KSAmofaEN\/status\/1758937337189298331\" style=\"\" rel=\"noopener\">watch, runtime: 0:57<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Discussions also touched upon the Kingdom\u2019s normalization with Israel: <\/strong>A senior US official told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us-arab-european-ministers-meet-munich-outline-post-gaza-ideas-2024-02-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a> that the meeting aimed to exchange views on a post-war Gaza, Saudi-Israel normalization and other topics paving the way to a Palestinian state.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Palestinian statehood is the only way to go:<\/strong> \u201cWe are firmly convinced that the only pathway towards security and stability for everyone in the region, including Israel, is through a Palestinian state,\u201d bin Farhan said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A busy schedule for the FM: <\/strong>His agenda included meetings with British counterpart <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2048587\" style=\"\" rel=\"noopener\">David<\/a><a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2048587\" style=\"\" rel=\"noopener\">Cameron<\/a>, Canadian counterpart <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2048759\" style=\"\" rel=\"noopener\">M\u00e9lanie Joly<\/a>, and Nato Secretary General <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2048826\" style=\"\" rel=\"noopener\">Jens Stoltenberg<\/a>. He also met with EU Foreign Policy Chief <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2049013\" style=\"\" rel=\"noopener\">Josep Borrell<\/a> among other meetings.<\/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\">KSA, TURKEY SIGN AGREEMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi and Turkey signed more than two dozen agreements<\/strong> during the Saudi-Turkish Business Forum in Istanbul on Friday, Turkish state-owned <a target=\"_blank\" href=\"https:\/\/www.aa.com.tr\/en\/middle-east\/turkiye-and-saudi-arabia-sign-21-official-business-agreements\/3139795\" style=\"\" rel=\"noopener\">Anadolu Agency<\/a> reported. No further details were provided, but the news agency said most of the agreements were business agreements.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But we know at least one: <\/strong>The Saudi Fund for Development CEO Sultan Al Marshad signed a USD 55 mn soft loan with Turkish Deputy Treasury and Finance Minister Osman Celik to fund a project aimed at mitigating earthquake risks in several public schools in Turkey, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2048697\" style=\"\" rel=\"noopener\">SPA<\/a> reported.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/faisal-bin-farhan\/\">Faisal bin Farhan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-canada-relations\/\">Saudi-Canada relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-turkey-relations\/\">Saudi-Turkey relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-us-relations\/\">Saudi-US relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83537\" 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\/18\/83537\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83537\" class=\"content-area-description single-story post-83537 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>21 February (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> wraps up<\/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 (Public 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;\">8 March (Friday): Egyptian Cup final between Al Ahly and Al Zamalek, 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>Wrapping up 23 March (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: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>1-11 <\/span><span>May<\/span><span style=\"font-weight:400;\"> (Wednesday-Saturday): Grand Smash 2024 Table Tennis Championship at King Abdullah Sport City, Jeddah.<\/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\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>Tax incentives for regional HQs in effect | Real estate regs | Mithaq in Children\u2019s Place play | S-linked bonds | Cenomi opens U Walk Jeddah<\/p>\n","protected":false},"featured_media":83509,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-83508","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3e6d869c-85b1-418d-9e96-d89c83237b4a","teaser":"Tax incentives for regional HQs in effect | Real estate regs | Mithaq in Children\u2019s Place play | S-linked bonds | Cenomi opens U Walk Jeddah","photo_url":"https:\/\/ent.news\/2024\/2\/1224.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Modern Mills says it will price its IPO at SAR 44-48 per share - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/modern-mills-says-it-will-price-its-ipo-at-sar-44-48-per-share\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Modern Mills says it will price its IPO at SAR 44-48 per share\" \/>\n<meta property=\"og:description\" content=\"Tax incentives for regional HQs in effect | Real estate regs | Mithaq in Children\u2019s Place play | S-linked bonds | Cenomi opens U Walk Jeddah\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/issues\/modern-mills-says-it-will-price-its-ipo-at-sar-44-48-per-share\/\" \/>\n<meta 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