{"id":83599,"date":"2024-02-20T00:00:00","date_gmt":"2024-02-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=83599"},"modified":"2025-12-14T17:26:16","modified_gmt":"2025-12-14T17:26:16","slug":"saudi-is-a-promising-equity-market-investors-say","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/saudi-is-a-promising-equity-market-investors-say\/","title":{"rendered":"Saudi is a promising equity market, investors say"},"content":{"rendered":"<section id=\"83601\" 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=\"83601\">\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\/20\/its-the-second-day-of-the-saudi-capital-market-forum\/\">\r\n                            THIS MORNING: It\u2019s the second day of the Saudi Capital Market Forum                        <\/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\/20\/its-the-second-day-of-the-saudi-capital-market-forum\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We have a busy issue for you this morning, thanks in no small part to the Saudi Capital Market Forum, which kicked off yesterday and wraps today. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have a rundown of everything you need to know from day 1<\/strong> of the forum in the news well below. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>W<\/strong><strong>HAT\u2019S ON THE AGENDA FOR <\/strong><strong>DAY 2<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The forum will feature the following three tracks today:<\/strong><\/p>\n<ul>\n<li><strong>Five sprints discussing global economic trends and projections<\/strong> featuring experts from Al Rajhi Capital, Morgan Stanley, Goldman Sachs, JP Morgan, and EFG Hermes;<\/li>\n<li><strong>Saudi exchange: The capital of capital<\/strong>, where we\u2019re excited to hear from local and international heavyweights about how Tadawul can expand its issuer base locally and globally along with a closer look at the local IPO, education, asset management, and ins. sectors;<\/li>\n<li><strong>Focus on sustainable Energy, which will go deep into the role of ESG<\/strong> and sustainable finance in regional sustainable development featuring speakers from Aramco, Saudi Electricity, Acwa Power, and the Regional Voluntary Carbon Market.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Clear skies and sunshine are in the cards for Riyadh today with some<\/strong><strong> scattered clouds in Taif and AlUla. <\/strong><\/p>\n<ul>\n<li><strong>Riyadh:<\/strong> 24\u00b0C daytime \/ 13\u00b0C overnight<\/li>\n<li><strong>Taif:<\/strong> 24\u00b0C daytime \/ 10\u00b0C overnight<\/li>\n<li><strong>AlUla:<\/strong> 23\u00b0C daytime \/ 7\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\">DATA POINT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>The Kingdom maintained the top spot for e-government services in the MENA region<\/strong> for a second consecutive year in UNESCWA\u2019s Government Electronic and Mobile Services Maturity Index, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2049932\" style=\"\" rel=\"noopener\">SPA<\/a> reported yesterday. Saudi Arabia earned a maturity score of 93% in the UN agency\u2019s index. This year\u2019s evaluation <a target=\"_blank\" href=\"https:\/\/www.unescwa.org\/publications\/government-electronic-mobile-services-gems-maturity-index-2023\" style=\"\" rel=\"noopener\">assessed over<\/a> 830 e-services provided by 350 government institutions in the region.<\/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\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- The Kingdom will pour USD 800 bn in investments in several tourist hubs and cities <\/strong><strong>over the next decade<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.okaz.com.sa\/economy\/saudi\/2155503\" style=\"\" rel=\"noopener\">Okaz<\/a> quotes Tourism MInister Ahmed Al Khateeb as saying during a meeting by the GCC tourism ministers in Qatar. The minister did not provide further details on the investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>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 doubled<\/a> its tourism target for 2030, 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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Healthcare provider <\/strong><strong><a target=\"_blank\" href=\"https:\/\/fc.med.sa\/?lang=en\" style=\"\" rel=\"noopener\">Future Care<\/a><\/strong><strong> is graduating to main market Tadawul from parallel <\/strong><strong>market Nomu<\/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\/ldBNC4JAEAbg39LB805-ZreVdEsMNRFtL7EWmOC6HrbCf99SJ8E-nNvA88I7gygqEe3YvamZbETHWrUfqX2ysA36dgVxjF0H0iD0yC7Chp-aqBgDEui-Aq6XbnyyBOIgOisPWWIpkOyNCA5AwP4vDx8Gw-88HZOJC8ZgouILfOkQIlq3onr_8yplv9ZAA8ku7HFrNdXxLHjPuiEbeCUUci3TRD3P8xKahBd48QSrXlqG\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODI5Ni9jb21wYW55U3ltYm9sLzk1NDQvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The move is still pending regulatory approvals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3- Stricter controls for camel auctions:<\/strong> The Environment, Water and Agriculture Ministry adopted general controls for temporary camel auctions outside public markets, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2050332\" style=\"\" rel=\"noopener\">SPA<\/a> reported yesterday. The ministry introduced controls on auction sites, requirements for auctions and seasonal markets, regulations for purchase and sale at auctions, and preservation of public health and the transport of camels among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s changing:<\/strong> The rules stipulate that the auction\u2019s site be at least five kilometers away from urban areas in cities, governorates and villages. The site should also include a veterinary clinic and provide designated areas for attendees and workers. It also bans the sale of unvaccinated camels or any that show symptoms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Government officials: Get your bisht ready:<\/strong> Ministers, governors, and some other government officials will be required to wear the bisht during official events and during the entry and exit of workplaces, <a target=\"_blank\" href=\"https:\/\/www.okaz.com.sa\/news\/na\/2155506\" style=\"\" rel=\"noopener\">Okaz<\/a> reported, citing a circular it has seen. Shura Council members, judges and members of the public prosecution will also be required to wear the traditional men\u2019s cloak during sessions.<\/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>The women\u2019s national team lost 3-1 against Jordan yesterday in their opening <\/strong><strong>game<\/strong> of the 2024 West Asian Football Federation (WAFF) in Jeddah.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Crossing our fingers:<\/strong> Lluis Cortes\u2019 side can still qualify to the knockout stage with games against Lebanon tomorrow and Guam on Thursday. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One story is dominating the front pages of the global business press this morning:<\/strong> Two of the US\u2019 biggest credit card lenders are getting married. Capital One is acquiring Discover Financial Services in a USD 35 bn all-stock transaction, it said in <a target=\"_blank\" href=\"https:\/\/investor.capitalone.com\/news-releases\/news-release-details\/capital-one-acquire-discover\" style=\"\" rel=\"noopener\">a statement<\/a> overnight. The transaction will see Discover shareholders receiving 1.0192 shares in Capital One for every share in Discover, \u201crepresenting a premium of 26.6% based on Discover\u2019s closing price of USD 110.49 on February 16, 2024,\u201d the statement said. The merged company will see Capital One shareholders holding 60% and Discover shareholders taking the remaining balance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story got plenty of ink:<\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-19\/capital-one-to-buy-discover-financial-in--35-billion-stock-deal\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cf009c4d-e893-410f-b8c8-a893e73061ed\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/capital-one-is-buying-discover-financial-sources-say-a7c43dd2\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/02\/19\/capital-one-acquiring-discover-financial-services-report-says.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/capital-one-considers-acquisition-discover-financial-bloomberg-says-2024-02-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FROM THE POLITICAL SIDE OF THINGS-<\/strong> US plans to call for temporary Gaza ceasefire in UN resolution: After 230 days of Israel\u2019s war on Gaza that has killed over 29k Palestinians \u2014 two-thirds of which are women and children \u2014 the US will now <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us-proposes-un-resolution-supporting-temporary-ceasefire-gaza-2024-02-19\/\" style=\"\" rel=\"noopener\">call for<\/a> a temporary ceasefire. The US has <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/02\/19\/politics\/us-un-security-council-temporary-ceasefire-draft-intl\/index.html\" style=\"\" rel=\"noopener\">reportedly<\/a> put forth a UN Security Council draft resolution calling for a temporary ceasefire and warning against a ground incursion into Rafah \u2014 now the world\u2019s most densely populated area hosting 1.5 mn people.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OVER IN TECH NEWS- US, EU, and UK are joining forces to launch an operation against Lockbit<\/strong>, the notorious ransomware gang that has launched cyberattacks against some of the world\u2019s largest organizations.<\/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>Riyadh will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/dust.ncm.gov.sa\/register\/\" style=\"\" rel=\"noopener\">International Conference on Sand and Dust Storms in the Arabian<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/dust.ncm.gov.sa\/register\/\" style=\"\" rel=\"noopener\">Peninsula<\/a><\/strong>from Monday, 4 March to Wednesday, 6 March. The conference will address regional challenges caused by sand and dust storms and discuss monitoring systems, mitigation strategies, economic and infrastructural impacts, and more. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tickets are on sale for the 2024 Saudi Arabian Grand Prix<\/strong>, scheduled for Jeddah from 7-9 March. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh will host a World Economic Forum <\/strong>special meeting on 28-29 April.<\/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\/future-care\/\">Future Care<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nomu\/\">Nomu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-capital-market-forum\/\">Saudi Capital Market Forum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83603\" 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=\"83603\">\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\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/day-1-recap-saudi-capital-market-forum\/\">\r\n                            Day 1 recap: Saudi Capital Market Forum                        <\/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\/20\/day-1-recap-saudi-capital-market-forum\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Other key takeaways from yesterday\u2019s fireside chats and 1:1 sessions include expectations for standardized ESG reporting, a fresh debt issuance from Aramco, and continued VC interest in fintechs. You can also watch the entire day of discussions, if you\u2019re so inclined (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=vAA1f5l5qjw\" style=\"\" rel=\"noopener\">runtime: 8:08:04<\/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\"> A PROMISING EQUITY MARKET<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia currently stands as the sixth largest constituent in the MSCI Emerging <\/strong><strong>Markets Index<\/strong>, said Managing Director of the Financial Markets Advisory at BlackRock, Kashif Riaz, adding that the Kingdom is on its way to becoming the fifth largest constituent, tailing closely behind China, India, Taiwan and Korea.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Getting to know you:<\/strong>Investors are currently in a period of getting themselves acquainted with the Saudi market and available investment portfolios, paving the way for the Kingdom to attract even more foreign portfolio inflows, Riaz said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A healthy IPO <\/strong><strong>pipeline<\/strong><strong> for the year: <\/strong>CMA Chairman Mohammed Al Kuwaiz expects to see a 30% y-o-y increase in IPOs for 2024 across both Tadawul's primary market and its parallel exchange Nomu, with 56 initial offerings currently in the pipeline. The ICT sector was the primary growth driver in the capital market in 2023, both in terms of the number of listings and the amount of raised capital, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul attracted 70x more qualified foreign investors in the last three years<\/strong>, coming up to 3.7k by the end of last year, up from 50 in 2017, said Tadawul CEO Mohammed Al Rumaih. The local exchange also saw 120 listings in the past three years and enabled financing totaling more than USD 100 bn, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cSaudi Arabia, and the Tadawul group got the fundamentals absolutely right,\u201d <\/strong>remarkedJP Morgan\u2019s Global Co-Head of Market Infrastructure Jeremy Capstick, praising the local mixture of a growing economy, local top-tier companies looking for capital for expansion, and the effective approaches taken by the relevant bodies to connect the issuers with potential investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market capitalization hit USD 3 tn by the end of last year<\/strong>, up from USD 450 by end of 2015, making Tadawul the 11th largest stock market in the world, according to the world federation of exchanges, up 10 positions from 2015, Al-Kuwaiz added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Better company structuring and higher profitability have contributed to growth in Tadawul\u2019s <\/strong><strong>average IPO size to USD 450 mn over the past eight years<\/strong>, up from USD 367 mn in the eight years prior to the National Transformation Program, ANB Capital CEO Khalid Al Ghamdi said. Excluding Aramco, companies have raised a total of USD 21 bn over the same period, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Secondary offerings are on the rise: <\/strong>Some 85% of proceeds from IPOs between 2016 and 2023 were pocketed by shareholders, while the rest was used to fuel growth. Meanwhile, proceeds from the eight years prior to that were evenly spent on growth and cashing out shareholders, said AlGhamdi. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pundits think that proceeds from Nomu listing should be used to fuel growth <\/strong><strong>rather than cash out shareholders:<\/strong> Al Ghamdi expressed concern that 77% of the funds raised on Nomu were spent on cashouts to shareholders, while the remaining proceeds were reinjected back into the issuers.\u201cIdeally, proceeds should be used for expanding business lines, creating jobs, and developing infrastructure.\u201d<\/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\"> POTENTIAL BOOSTERS FOR THE FINANCIAL MARKET<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A clear yield curve for sovereign issuances: <\/strong>\u201cThe government has worked over the last five years to make sure that there is a very clear yield curve [ for its sovereign issuances] over one year, three years, five years, and 10 years, and beyond that, to 50 years, because it is the benchmark,\u201d Al Jadaan added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The affordability of advisory services, along with reasonable fees for investors and <\/strong><strong>issuers<\/strong> set by regulatory bodies such as CMA are key for promoting activity in the financial market, said Finance Minister Mohammed Al Jadaan.<\/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\">DERIVATIVES<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>Kingdom's largest lender, Saudi National Bank (SNB), was the latest to debut single <\/strong><strong>stock <\/strong><strong>options (SSOs) on its stocks on Sunday<\/strong>,allowing investors to trade in these contracts for hedging against potential losses or speculate on the stock\u2019s price movement to make gains, said Muqassa CEO Wael AlHazzani. SSOs were introduced as the third derivative instrument on the Saudi stock exchange in November 2023 to trade on the stocks of four of the largest most liquid companies including Sabic, Al Rajhi Bank, Aramco, and STC.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Three new derivatives market participants:<\/strong> These are reportedly Al Rajhi Capital, Alkhabeer Capital, and Aljazira Capital which could start brokerage services later this year, according to a statement seen by <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2462796\/business-economy\" style=\"\" rel=\"noopener\">Arab News<\/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\"> VC \u2665\ufe0f FINTECH<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Strong <\/strong><strong>investor appetite for fintech: <\/strong>Al Kuwaiz also highlighted the growing prominence of the fintech sector, saying that it\u2019s the largest recipient of venture capital funding. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The number of fintech players in the local market rose 15x to 147 in 2022, up from just 10 <\/strong><strong>in 2018<\/strong>, said Philip Drury, Global head of technology and communication banking at Citigroup. It\u2019s expected that 70% of payments in the Kingdom will be noncash by 2025, Drury added.<\/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\"> ESG IS GAINING STEAM<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Standardization is coming to ESG reporting: <\/strong>The tally of companies engaging in sustainability reporting doubled last year to 30, said Al Kuwaiz, adding that there\u2019s growing investor demand for local companies to establish a standardized ESG template. Manar el Mounif, Neom\u2019s investment chief, emphasized the profitability surge linked to ESG compliance, saying that \u201cimplementing energy-efficient infrastructure can yield significant OPEX savings, ranging from 15% to 20%.\u201d<\/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\"> MACRO MILESTONES<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The economy expanded to SAR 4 <\/strong><strong>tn up<\/strong><strong> from SAR 2.6 tn in 2016, nudging the <\/strong><strong>Kingdom up the G20 ladder as the group\u2019s 16th largest economy<\/strong>, Investment Minister Khalid Al Falih said. FDI grew 52% during the same time frame, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FDI accounted for 3% of GDP in 2023, up from 1% the year prior<\/strong>, Al Falih said, adding that policymakers are currently aiming for an ambitious 4%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cIf you look at the non-oil GDP, it is growing at a very healthy 4%.<\/strong> We are expecting5% plus in the medium term,\u201d said Al Jadaan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Economic reforms helped the Kingdom cushion external shocks<\/strong>, including the pandemicand geopolitical risks, Al Jadaan <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-arabia-expects-more-than-5-medium-term-non-oil-growth-minister-says-2024-02-19\/\" style=\"\" rel=\"noopener\">said<\/a>. \u201cWe transform socially. We transform economically. We transformed fiscal policy, where we brought all the budget deficits down from 15% to 2% or even less than that. That is how a country becomes more resilient and deals with these shocks,\u201d he said,<\/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\"> ARAMCO EYES LONG-TERM BOND ISSUANCES<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco could tap debt markets this year to issue bonds with longer maturities, ranging <\/strong><strong>from 15-50 years<\/strong>, as part of its strategy to enhance its capital structure, said Chief Financial Officer Ziad Al Murshed.<\/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\"> WATCH OUT FOR THE ROLLOUT OF NETTING REGULATIONS<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi Central Bank is working to introduce netting regulations<\/strong> in a bid to improve financial stability and boost the resilience of the financial sector, said SAMA\u2019s Deputy Governor for Financial Innovation Yazeed Al-Nafjan, adding that the new netting framework would be aligned with international best practice \u201cThese regulations aim to enhance the stability and resilience of the financial sector.\u201d The framework would enable banks from reducing and hedging against credit, operational and liquidity risks, Al Nafjan 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\/capital-market-authority\/\">Capital Market Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/muqassa\/\">Muqassa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-capital-market-forum\/\">Saudi Capital Market Forum<\/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=\"83605\" 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=\"83605\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/snb-hires-advisors-for-its-potential-fcy-sukuk-issuance\/\">\r\n                            SNB hires advisors for its potential FCY Sukuk issuance                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1793.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83606\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/snb-hires-advisors-for-its-potential-fcy-sukuk-issuance\/1793-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1793.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1793.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1793.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1793.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83605\" class=\"content-area-description single-story post-83605 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-enterpriseam-ksa tag-islamic-finance tag-saudi-national-bank-snb tag-sukuk wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.b88c4ea0-1f41-487f-be8b-ff81fa51b460.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi National Bank (SNB) is planning to issue an unspecified amount of USD-denominated sukuk<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZC7DoJAEEW_xYJ6BuSlHSqsUQggKriNWdQgkVexavh7N9pIouh0Nzk352aAQgK0Yrc8YzyvK1aIvKP6XrN0VOYm-sRRbAyd0SSc2UTGpQpxF8Ao0AQQeEMXV0hQB_pPH7-chb_7tIt8WPAE-hS9EmLAWgDGm2I7VVFHXyWea8pE0yA6VbAAmhV1-nramfNmLKGEnB3Z_VpIwnKoy4ZVbdSWaS0gWTYRmnKTYB5cSGwNHudlk78!\/dz\/d5\/L0lDU0lLVUtVSkNncFJDZ3BSQ2lDbEVLSUtVU0ovWUJVRUFBQUlJTUlFQUNJQ0tJS0lHT0JPQkdPSkZKRkdKTk5ETkRMSUVDTkhIUEhQTEhBb0VFSW9FTUEhLzRKQ2lqc1l1T0lRU2t5RkpOUlRrS2FhaG10MnN0bk5Uelc3V1d3V29wVlVZb0EhIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9BTk5PVU5DRU1FTlRfTlVNQkVSLzc4MzAzL2NvbXBhbnlTeW1ib2wvMTE4MC9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvYW5JZC9lbg!!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. There\u2019s still no publicly available information about the size and terms of the potential transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>The issuance will be made available for subscription to eligible investors locally and internationally through a special purpose vehicle with proceeds earmarked to support the bank\u2019s financial and strategic objectives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>SNB hired Emirates NBD, Dubai Islamic Bank (DIB), Goldman Sachs International, HSBC Bank, Mizuho International, SNB Capital and Standard Chartered Bank as joint lead managers and bookrunners on the transaction.<\/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\/islamic-finance\/\">Islamic finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-national-bank-snb\/\">Saudi National Bank (SNB)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sukuk\/\">sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83607\" 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=\"83607\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/quara-finance-inches-closer-to-nomu-offering-on-nomu\/\">\r\n                            Bookbuilding for Quara\u2019s Finance Nomu IPO wraps up with strong demand                        <\/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\" 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       \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/quara-finance-inches-closer-to-nomu-offering-on-nomu\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1220.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83608\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/quara-finance-inches-closer-to-nomu-offering-on-nomu\/1220-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1220.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1220.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1220.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1220.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83607\" class=\"content-area-description single-story post-83607 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-enterpriseam-ksa tag-ipo-watch tag-nomu tag-pwc 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\/.09b3c10b-713e-4cd7-a801-f14c4fb4513d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Bookbuilding for <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.quarafinance.com\/en\/\" style=\"\" rel=\"noopener\">Quara Finance\u2019s<\/a><\/strong><strong> Nomu IPO wrapped up earlier this month<\/strong> with the consumer finance firm setting a share price of SAR 15, its financial advisor Riyad Capital 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\/lZLBboMwDIafhrMNiJDulnYapaKjDFghlyltEWMKCZoYVd9-6XYaFajLzdL3-4udAIcCuBJDU4u-0UpIU5ecvHmMoLOmGOM6WyHBNCB5Ru3H0IX9X4BuA4LJM0tix_cweEXg_8pjuvMwedpt3QhfMEByXx4nDrvDz0fI7Q1-gDnFrMQhYyBmC98oNssgjJhLiT8GbrdYmjH9SUVCYD801RlypT9b82zptaPURyErKCt1rY667YS6pJf2oCWUNqINmdHOdk1NdgO8lvrw-xne-757sNDCXpzE-UtaZnqh1Er0UNjTQHiCwqfOwoGuzfMCm_DDq1vqeks5ROwb4fFoIw!!\/?uri=nm:oid:Z6_5A602H80O8MG60QNAQO2750GV0\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Demand for the IPO was strong<\/strong>, with orders covering 218% of the offering during the bookbuilding process, which ran from 4-8 February. The BNPL firm <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3463.aspx\" style=\"\" rel=\"noopener\">received in December<\/a> the Capital Market Authority\u2019s approval to offer an 8.8% stake in the IPO.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the issuer:<\/strong> Founded in 2009, Quara is a consumer finance firm that provides financial leasing and alternative financing to SMEs, according to its website.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS<\/strong><strong>- <\/strong>Riyad Capital is sole financial advisor and receiving agent alongside Alkhair Capital, and PwC the legal accountant. <\/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\/nomu\/\">Nomu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pwc\/\">PwC<\/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=\"83609\" 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=\"83609\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/pif-acquires-40-of-zamil-offshore\/\">\r\n                            PIF finalizes 40% acquisition of Zamil Offshore to help meet growing demand for offshore services                        <\/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\/20\/pif-acquires-40-of-zamil-offshore\/\" 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\/20\/pif-acquires-40-of-zamil-offshore\/')\">\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\/20\/pif-acquires-40-of-zamil-offshore\/\">\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=PIF acquires 40% of Zamil Offshore&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/pif-acquires-40-of-zamil-offshore\/\">\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\/20\/pif-acquires-40-of-zamil-offshore\/&title=PIF acquires 40% of Zamil Offshore\">\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=PIF+acquires+40%25+of+Zamil+Offshore+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F20%2Fpif-acquires-40-of-zamil-offshore%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\/20\/pif-acquires-40-of-zamil-offshore\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1873.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83610\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/pif-acquires-40-of-zamil-offshore\/1873-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1873.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1873.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1873.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1873.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83609\" class=\"content-area-description single-story post-83609 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam-ksa tag-logistics tag-ma-watch tag-public-investment-fund-pif tag-zamil-group tag-zamil-investments tag-zamil-offshore 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\/.280c9d3a-3529-4316-9585-3687d5ad1509.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>PIF grabs 40% of Zamil Offshore:<\/strong> The Public Investment Fund (PIF) wrapped up its acquisition of a 40% stake in leading offshore support services provider <a target=\"_blank\" href=\"https:\/\/www.zamiloffshore.com\/\" style=\"\" rel=\"noopener\">Zamil Offshore<\/a>, it said in a <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/Pages\/NewsDetails.aspx?NewsId-278\/PIF-invests-in-Zamil-Offshore:-One-of-the-leading-Saudi-offshore-support-vessel-and-construction-service-providers-in-the-Arabian-Gulf\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. Zamil Offshore is a subsidiary of one of the Kingdom\u2019s largest private players <a target=\"_blank\" href=\"https:\/\/zamil.com\/?lang=en\" style=\"\" rel=\"noopener\">Zamil Group<\/a>. The statement did not provide details on the financial value of the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Giving Zamil a push<\/strong>: The investment \u201caims to further strengthen the capital base of Zamil Offshore \u2026 to continue expanding its services and fleet to serve the growing demand for offshore support services,\u201d PIF said. The services set to be provided later include wind power generation activities, it added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the company:<\/strong> Zamil Offshore is one of the Kingdom\u2019s largest offshore support companies in terms of market share and fleet size, according to the statement. It currently manages and operates over 90 vessels in the Arabian Gulf. It is part of two JVs, including subsea diving services provider Zamil Mermaid and offshore platforms services provider SBS Oceanics. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>Logistics and transport is among key strategic sectors prioritized by the PIF to help bring in revenue, know-how, and job localization, according to its <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/VRP%202025%20Downloadables%20EN\/PIFStrategy2021-2025-EN.pdf\" style=\"\" rel=\"noopener\">2021-2025 strategy (pdf)<\/a>. Other strategic sectors include automotive, renewable energy, aerospace, and defense, metals and mining and others under the Kingdom\u2019s diversification plan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not their first collaboration:<\/strong> The PIF and <a target=\"_blank\" href=\"https:\/\/zamil.com\/index.php\/investments\/?lang=en\" style=\"\" rel=\"noopener\">Zamil Investments<\/a> \u2014 a wholly owned unit of Zamil Group \u2014 were among selling shareholders in oil and gas driller company Ades\u2019 IPO last year. Ades went <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/96fcee87-004d-4545-bf17-a31e0fbe804f\" style=\"\" rel=\"noopener\">public last fall<\/a> in a high-profile IPO on the Tadawul orchestrated by the PIF. The PIF bought the London-listed driller and took it private ahead of the transaction. The USD 1.2 bn IPO was <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/saudi-pif-backed-ades-prices-ipo-top-end-implying-over-4-bln-valuation-2023-09-20\/\" style=\"\" rel=\"noopener\">priced at the top of the range<\/a> after heavy interest from both institutional and individual buyers, making it the <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-20\/saudi-driller-gets-76-5-billion-of-orders-for-1-2-billion-ipo?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Kingdom\u2019s biggest IPO in 2023<\/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\/logistics\/\">logistics<\/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\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/zamil-group\/\">Zamil Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/zamil-investments\/\">Zamil Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/zamil-offshore\/\">Zamil Offshore<\/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=\"83611\" 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=\"83611\">\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\">PETROCHEMICALS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/sabic-fujian-energy-petrochemical-jv-break-ground-on-world-scale-petrochem-complex-in-china\/\">\r\n                            Sabic, Fujian Energy JV break ground on world-scale petrochem complex in China                        <\/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\/20\/sabic-fujian-energy-petrochemical-jv-break-ground-on-world-scale-petrochem-complex-in-china\/\" 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\/20\/sabic-fujian-energy-petrochemical-jv-break-ground-on-world-scale-petrochem-complex-in-china\/')\">\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\/20\/sabic-fujian-energy-petrochemical-jv-break-ground-on-world-scale-petrochem-complex-in-china\/\">\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=Sabic, Fujian Energy Petrochemical JV break ground on world-scale petrochem complex in China&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/sabic-fujian-energy-petrochemical-jv-break-ground-on-world-scale-petrochem-complex-in-china\/\">\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\/20\/sabic-fujian-energy-petrochemical-jv-break-ground-on-world-scale-petrochem-complex-in-china\/&title=Sabic, Fujian Energy Petrochemical JV break ground on world-scale petrochem complex in China\">\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=Sabic%2C+Fujian+Energy+Petrochemical+JV+break+ground+on+world-scale+petrochem+complex+in+China+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F20%2Fsabic-fujian-energy-petrochemical-jv-break-ground-on-world-scale-petrochem-complex-in-china%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\/20\/sabic-fujian-energy-petrochemical-jv-break-ground-on-world-scale-petrochem-complex-in-china\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1875.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83612\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/sabic-fujian-energy-petrochemical-jv-break-ground-on-world-scale-petrochem-complex-in-china\/1875-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1875.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1875.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1875.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1875.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83611\" class=\"content-area-description single-story post-83611 post type-post status-publish format-standard has-post-thumbnail hentry category-petrochemicals tag-enterpriseam-ksa tag-ethylene tag-fujian tag-fujian-energy-petrochemical tag-petrochemicals tag-sabic 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\/.507d6716-e83b-4712-872e-a00c8e6dbad6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Sabic, Fujian Energy Petrochemical break ground on mega petrochem complex:<\/strong> A joint venture between petrochemicals giant Sabic and China\u2019s Fujian Energy Petrochemical broke ground on a world-scale USD 6.4 bn petrochemical complex in China\u2019s Fujian, Sabic said in a <a target=\"_blank\" href=\"https:\/\/www.sabic.com\/en\/news\/42805-sabic-and-fujian-energy-petrochemical-celebrate-the-start-of-construction\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The start of construction comes <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/83f71d61-b567-4336-bce6-f051c87e01d1\" style=\"\" rel=\"noopener\">nearly a month<\/a> after the two sides reached a final investment decision on the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And that\u2019s not all:<\/strong> Sabic and Fujian Energy Petrochemical also signed EPC contracts and an undisclosed project financing loan agreement for the complex, the statement said, without providing further details.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>The project will be home to a mixed feed steam cracker with an annual ethylene maximum capacity of up to 1.8 mn tons and downstream facilities including ethylene glycols, polyethylene, polypropylene, polycarbonate, and others. Nine of the technologies set to be used in the complex <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-oyMjA0EA_ODVPvyA3NMIgMyA3XNdREQDnhkeb\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83NzkyNC9jb21wYW55U3ltYm9sLzIwMTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">will be supplied<\/a> from Sabic. The project is scheduled to begin the preparation for commissioning and start-up from the second half of 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This has been in the works for quite a while:<\/strong> Sabic <a target=\"_blank\" href=\"https:\/\/www.sabic.com\/en\/news\/14593-sabic-announces-the-signing-of-a-mou-with-the-fujian-provincial-government\" style=\"\" rel=\"noopener\">signed a MoU<\/a> with Fujian province in 2018 to set out a framework for the development of the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All part of Sabic feedstock diversification plan:<\/strong> The project comes as part of a plan Sabic is implementing to diversify its feedstock sources and expand its manufacturing presence in Asia, it 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\/ethylene\/\">ethylene<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fujian\/\">Fujian<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fujian-energy-petrochemical\/\">Fujian Energy Petrochemical<\/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\/sabic\/\">SAbic<\/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=\"83613\" 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=\"83613\">\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\">Entertainment<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/a-usd-100-mn-fund-to-support-the-local-film-industry\/\">\r\n                            Mefic Capital, Cultural Development Fund and Roaa Media launch USD 100 mn Saudi Film Fund                        <\/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\/20\/a-usd-100-mn-fund-to-support-the-local-film-industry\/\" 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\/20\/a-usd-100-mn-fund-to-support-the-local-film-industry\/')\">\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\/20\/a-usd-100-mn-fund-to-support-the-local-film-industry\/\">\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=A USD 100 mn fund to support the local film industry&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/a-usd-100-mn-fund-to-support-the-local-film-industry\/\">\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\/20\/a-usd-100-mn-fund-to-support-the-local-film-industry\/&title=A USD 100 mn fund to support the local film industry\">\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=A+USD+100+mn+fund+to+support+the+local+film+industry+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F20%2Fa-usd-100-mn-fund-to-support-the-local-film-industry%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\/20\/a-usd-100-mn-fund-to-support-the-local-film-industry\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1880.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83614\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/a-usd-100-mn-fund-to-support-the-local-film-industry\/1880-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1880.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1880.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1880.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1880.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83613\" class=\"content-area-description single-story post-83613 post type-post status-publish format-standard has-post-thumbnail hentry category-_newspack_entertainment tag-cultural-development-fund tag-enterpriseam-ksa tag-entertainment tag-film tag-mefic-capital tag-red-sea-fund tag-roaa-media-ventures tag-saudi-film-commission 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\/.ed605ee5-6e2e-457a-8f7b-6087e9e11085.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Another step towards Saudiwood:<\/strong> Local investment firm <a target=\"_blank\" href=\"https:\/\/mefic.com.sa\/en\/\" style=\"\" rel=\"noopener\">Mefic Capital<\/a> will launch the Kingdom\u2019s first fund to invest in the film industry as the country looks to become one of the region\u2019s leading film production markets, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7165272450295971840\/\" style=\"\" rel=\"noopener\">joint statement<\/a> yesterday. The fund\u2019s size is estimated at SAR 375 mn (c. USD 100 mn).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong> The launch of the Saudi Film Fund comes in collaboration with <a target=\"_blank\" href=\"https:\/\/www.roaamediaventures.com\/\" style=\"\" rel=\"noopener\">Roaa Media<\/a><a target=\"_blank\" href=\"https:\/\/www.roaamediaventures.com\/\" style=\"\" rel=\"noopener\">Ventures<\/a> \u2014 a holding company focused on promoting local media projects and talent. The government\u2019s <a target=\"_blank\" href=\"https:\/\/cdf.gov.sa\/#smooth-scroll-top\" style=\"\" rel=\"noopener\">Cultural Development Fund (CFD)<\/a> is a key investor in the film fund, contributing 40% of its total capital. The fund aims to invest in \u201cfilm production infrastructure and provide content that reflects the Saudi culture and values,\u201d according to the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew this was in the works:<\/strong> The three parties <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7065285196140396546\/\" style=\"\" rel=\"noopener\">signed a preliminary agreement<\/a> for the USD 100 mn film fund last year at the Cannes Film Festival. They said the fund will work on luring global investors to the film industry and pave the way for local films to enter global markets. A separate USD 80 mn fund focused on \u201cfilm and media production, distribution and infrastructure\u201d <a target=\"_blank\" href=\"https:\/\/variety.com\/2023\/film\/global\/saudi-arabia-cannes-unveils-two-film-funds-180-million-1235615766\/\" style=\"\" rel=\"noopener\">was also announced<\/a> last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All eyes on Cannes, always:<\/strong> The Saudi Film Commission announced in 2022 during its participation at the Cannes Film Festival <a target=\"_blank\" href=\"https:\/\/film.sa\/incentive-programs\/\" style=\"\" rel=\"noopener\">an incentive program<\/a> aimed at turning the Kingdom as a global hub for film production. Those include up to 40% rebate for productions that hire local crew in above the line and below positions among other incentives. The incentives were announced a few months after the Kingdom set up the Red Sea Fund to support Arab and African filmmakers and directors. It <a target=\"_blank\" href=\"https:\/\/redseafilmfest.com\/en\/red-sea-fund-2\/\" style=\"\" rel=\"noopener\">has provided funding<\/a> for over 250 films since it was set up in 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some of Hollywood\u2019s productions were shot here<\/strong>, including Gerard Butler's action-thriller Kandahar which was filmed in AlUla, Anthony Mackie\u2019s Desert Warrior in Neom, and a part of crime drama Cherry, which was shot in AlUla and Riyadh. All three productions benefitted <a target=\"_blank\" href=\"https:\/\/variety.com\/2022\/film\/news\/saudi-arabia-40-film-production-rebate-1235278230\/\" style=\"\" rel=\"noopener\">from the rebate<\/a> before it was officially announced.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AlUla wants to lure in the music industry next:<\/strong> Film AlUla \u2014 the Royal Commission of AlUla\u2019s film agency \u2014 <a target=\"_blank\" href=\"https:\/\/variety.com\/2024\/film\/global\/saudi-arabia-film-alula-music-recording-studio-film-studio-1235916099\/\" style=\"\" rel=\"noopener\">will open in June<\/a> an advanced recording studio along its <a target=\"_blank\" href=\"https:\/\/filming.experiencealula.com\/en\/filming-in-alula\/alula-studios\" style=\"\" rel=\"noopener\">film studios<\/a>. It will be home to audio and recording equipment, including a control room and two soundproof booths to be used by artists, choirs and others in the industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>From ban to boom:<\/strong> Revenues from cinemas in the Kingdom <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/59239\/%D8%A7%D9%84%D8%B3%D9%8A%D9%86%D9%85%D8%A7-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B3%D8%AC%D9%84-245-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%A5%D9%8A%D8%B1%D8%A7%D8%AF%D8%A7%D8%AA-%D9%81%D9%8A-2023\/\" style=\"\" rel=\"noopener\">grew 5% y-o-y in 2023<\/a> to SAR 919 mn (c. USD 245 mn). It lifted its nearly 40-year cinema ban in 2018 as part of social reforms by Crown Prince Mohammed bin Salman.<\/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\"> NEW DETAILS ON REGIONAL FILM FUND-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An investment fund announced last week by the General Entertainment Authority (GEA) <\/strong><strong>to boost Arabic film content across the region <\/strong>will have an initial capital of EGP 4 bn (c. SAR 486 mn), Asharq Business reported (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ASWaKk8XSC8\" style=\"\" rel=\"noopener\">watch, runtime: 5:58<\/a>). The Big Time Investment fund, in which GEA holds a 30% stake, will focus on film production and distribution. It will be followed by similar investment funds Big Time 2 and Big Time 3 for investments in American and Indian movies at later stages , according to the media outlet. The announcement was made by GEA Chairman Turki Al Sheikh during a visit to Egypt. The fund aims to make profits within five years, according to Asharq. It aims to produce 20 movies from across the region 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\/cultural-development-fund\/\">Cultural Development Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/entertainment\/\">entertainment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/film\/\">film<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mefic-capital\/\">Mefic Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/red-sea-fund\/\">Red Sea Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/roaa-media-ventures\/\">Roaa Media Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-film-commission\/\">Saudi Film Commission<\/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=\"83615\" 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=\"83615\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/stc-yansab-report-results-for-fy-2023\/\">\r\n                            stc, Yansab report results for FY 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\/20\/stc-yansab-report-results-for-fy-2023\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Its revenues were up 7.3% y-o-y during the period to SAR 72.3 bn, marking record-high revenues for the Kingdom\u2019s largest telecom operator, it said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fueling the growth:<\/strong> stc attributed the bottomline growth to higher sales and its \u201ccontinued investment in new domains in accordance with its strategy.\u201d Its revenues rose on the back of an increase in commercial unit, carrier and wholesale units revenues and a 23.9% y-o-y growth in its subsidiaries\u2019 revenues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A year marked with acquisitions here and abroad: <\/strong>stc grabbed a 9.9% stake in Spain\u2019s Telefonica to become the telecom giant\u2019s top shareholder USD 2.3 bn, according to its <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/Resources\/fsPdf\/15551_480_2024-02-19_14-02-00_en.pdf\" style=\"\" rel=\"noopener\">earnings release<\/a>. Its subsidiary Tawal, a leading integrated ICT infrastructure company in the MENA region, agreed to buy mobile tower infrastructure worth EUR 1.2 bn from United Group. Solutions \u2014 stc\u2019s tech subsidiary \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/729619e2-9a1e-4e98-91c8-b535cb49cab9\" style=\"\" rel=\"noopener\">completing the acquisition<\/a> of a 40% stake in Devoteam Middle East in a transaction valued at SAR 742 mn. The Devoteam acquisition is one of the region\u2019s largest digital transformation transactions, it said. stc\u2019s subsidiary and IoT solutions provider iot squared fully acquired local IoT company Machinestalk.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And 5G for all:<\/strong> The leading telecom operator launched the largest 5G network expansion in its history under a bid to expand its existing network of over 75 cities and governorates. Its 5G network technologies cover 90% of locations in major cities, it said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A look at dividends:<\/strong> stc will distribute SAR 0.4 in interim dividends to eligible shareholders for the fourth quarter of 2023. Dividends will be paid out on Thursday, 14 March, 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\/lY_dboJAEIWfxQcwO2hc6OW2tEiDCuIvN2ZdpkoiLFkWW_v0BbFttLWxm72YOfnmzBkSkQWJMr5PNlwnMuO7ql9GdNVjFDp9C0bQnzwAhdCh04ll2B1K5ueANXAoBEMWjDpmD5wZkOhf8xD6PQie_EHXgzE4QG-bhyuP3bA_OkdG7M6sEjzfO67HuhY1L4FfTrxY8vOGI_BHyBCz4yXm1aiuQeYKC1kqgWS8Qc2yTJaZwBQz7SWFtrnmJBBcbNHDPe58vkES1qt5vE8KqYqaIsu2UWsFCi2Vnbvxl3JI13JHlnWdKxmXQk8OOTaClpX9qc4r4zB5rzoDGiuuxLZhjU9gWKZrVPb6JL0omX478Dq6qIOfplZNBI1vOjy6NVxcTfioElmFJHk6nS4gcdvW62M3tc4_a7U-APoSD9Q!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzcwMTAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4MzA4\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Separately, its board of directors are proposing a special in-kind dividend of SAR 1 to its eligible shareholders for 2023. This will bring its total dividends for the year to SAR 2.6 per share, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_dboJAEIWfxQcwO2hc6OW2tEiDCuIvN2ZdpkoiLFkWW_v0BbFttLWxm72YOfnmzBkSkQWJMr5PNlwnMuO7ql9GdNVjFDp9C0bQnzwAhdCh04ll2B1K5ueANXAoBEMWjDpmD5wZkOhf8xD6PQie_EHXgzE4QG-bhyuP3bA_OkdG7M6sEjzfO67HuhY1L4FfTrxY8vOGI_BHyBCz4yXm1aiuQeYKC1kqgWS8Qc2yTJaZwBQz7SWFtrnmJBBcbNHDPe58vkES1qt5vE8KqYqaIsu2UWsFCi2Vnbvxl3JI13JHlnWdKxmXQk8OOTaClpX9qc4r4zB5rzoDGiuuxLZhjU9gWKZrVPb6JL0omX478Dq6qIOfplZNBI1vOjy6NVxcTfioElmFJHk6nS4gcdvW62M3tc4_a7U-APoSD9Q!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzcwMTAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4MzA5\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">YANSAB-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yanbu National Petrochemical (Yansab) reported a net loss of SAR 485 mn last year<\/strong> on the back of lower sales prices for its products, 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-oyMjI0kC_IDc0wiAzIDfcUVERACy9EVg!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODMwMS9jb21wYW55U3ltYm9sLzIyOTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Its revenues fell 35.5% y-o-y to SAR 4.5 bn in the same period due to lower production and sales quantity. Yansab is a subsidiary of petrochemicals giant Sabic.<\/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\/devoteam\/\">Devoteam<\/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\/machinestalk\/\">Machinestalk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-telecom-group-stc\/\">Saudi Telecom Group (stc)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/solutions\/\">Solutions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tawal\/\">Tawal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/telefonica\/\">Telefonica<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/yanbu-national-petrochemical-yansab\/\">Yanbu National Petrochemical (Yansab)<\/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=\"83617\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15542.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83618\" 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=\"83618\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/energy-minister-british-counterpart-discuss-renewables-cooperation-plus-tourism-mining-capital-markets\/\">\r\n                            Energy Minister + British counterpart discuss renewables cooperation. PLUS: Tourism, mining, capital markets                        <\/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\/20\/energy-minister-british-counterpart-discuss-renewables-cooperation-plus-tourism-mining-capital-markets\/\" 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\/20\/energy-minister-british-counterpart-discuss-renewables-cooperation-plus-tourism-mining-capital-markets\/')\">\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\/20\/energy-minister-british-counterpart-discuss-renewables-cooperation-plus-tourism-mining-capital-markets\/\">\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=Energy Minister + British counterpart discuss renewables cooperation. 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PLUS: Tourism, mining, capital markets\">\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=Energy+Minister+%2B+British+counterpart+discuss+renewables+cooperation.+PLUS%3A+Tourism%2C+mining%2C+capital+markets+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F20%2Fenergy-minister-british-counterpart-discuss-renewables-cooperation-plus-tourism-mining-capital-markets%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\/20\/energy-minister-british-counterpart-discuss-renewables-cooperation-plus-tourism-mining-capital-markets\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1876.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83619\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/energy-minister-british-counterpart-discuss-renewables-cooperation-plus-tourism-mining-capital-markets\/1876-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1876.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1876.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1876.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1876.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83618\" class=\"content-area-description single-story post-83618 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-accor tag-also-on-our-radar tag-claire-coutinho tag-enterpriseam-ksa tag-mining tag-neom tag-prince-abdel-aziz-bin-salman tag-raffles tag-renewable-energy tag-trojena 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\/.9b7789ce-02eb-41c7-afe8-6246ca4c7bb1.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\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Energy Minister, British counterpart talk renewables cooperation:<\/strong> Energy Minister Prince Abdel Aziz bin Salman mulled boosting cooperation with British Secretary of State for Energy Security and Net Zero Claire Coutinho in renewable energy and petrochemicals, a <a target=\"_blank\" href=\"https:\/\/www.moenergy.gov.sa\/ar\/MediaCenter\/News\/Pages\/HRH-Energy-Minister-meets-Secretary-of-State-for-Energy-Security.aspx\" style=\"\" rel=\"noopener\">statement<\/a> by the Energy Ministry read yesterday. They also discussed prospects for cooperation in developing clean hydrogen standards and regulations for carbon capture and storage.<\/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\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Capital Market Authority approved the offering of SNB Capital SAR <\/strong><strong>Multi-Asset Conservative Fund<\/strong> by SNB Capital, it said in a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/NEWS\/Pages\/CMA_N_3489.aspx\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. It also gave a green light for the offering of Derayah Money Market Fund in SAR, it said in a separate statement. It did not provide further details on the offerings.<\/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\">MINING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A Saudi-Indian cooperation agreement for graphite mining was signed <\/strong>during the Saudi-India Business Forum, the Federation of Saudi Chambers <a target=\"_blank\" href=\"https:\/\/twitter.com\/CSC_SA\/status\/1759551678963925379\" style=\"\" rel=\"noopener\">said on X<\/a> yesterday. No further details were provided. The forum <a target=\"_blank\" href=\"https:\/\/twitter.com\/CSC_SA\/status\/1759547530700832959\" style=\"\" rel=\"noopener\">saw the participation<\/a> of 100 local and Indian companies, where they discussed potential investments in various fields.<\/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\">TOURISM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Paris-based hotel group Accor will open a Raffles hotel in Neom\u2019s Trojena mountain <\/strong><strong>resort<\/strong>, a <a target=\"_blank\" href=\"https:\/\/www.neom.com\/en-us\/newsroom\/raffles-hotels-and-resorts-to-debut-in-trojena\" style=\"\" rel=\"noopener\">statement<\/a> by Neom read. The 105-key luxurious hotel will be built in one of the six distinct clusters that make up Trojena. It is slated to open its doors to visits in 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trojena?<\/strong> One of Neom\u2019s latest developments, Trojena is a planned mountain destination that aims to become a year-round tourist destination with activities that include outdoor skiing, sports amenities, retail and dining facilities among others. It is slated to open in 2026.<\/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\/accor\/\">Accor<\/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\/claire-coutinho\/\">Claire Coutinho<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neom\/\">NEOM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/prince-abdel-aziz-bin-salman\/\">Prince Abdel Aziz bin Salman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/raffles\/\">Raffles<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trojena\/\">Trojena<\/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=\"83620\" 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=\"83620\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/fdi-in-china-hits-lowest-level-since-1993\/\">\r\n                            Foreign direct investment in China hits lowest level since 1993                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/fdi-in-china-hits-lowest-level-since-1993\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1852.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83621\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/20\/fdi-in-china-hits-lowest-level-since-1993\/1852-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1852.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1852.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1852.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1852.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83620\" class=\"content-area-description single-story post-83620 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-china tag-enterpriseam-ksa 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\/.ae226976-5f9f-4748-9e24-1f0e3dec50ea.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>FDI inflows to China slow to a crawl: <\/strong>Foreign direct investment in China in 2023 hit itslowest level in three decades on the back of slow post-pandemic recovery and a spiraling property crisis, writes the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/bcb1d331-5d8e-4cac-811e-eac7d9448486\" style=\"\" rel=\"noopener\">Financial Times<\/a>. <\/p>\n<p><strong>By the numbers: <\/strong>Direct investment liabilities \u2014 a gauge that measures foreign capital inflows \u2014 were down 82% y-o-y in 2023 at USD 33 bn \u2014 its lowest since 1993, according to government data cited by the salmon coloured paper. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But it\u2019s not just the economic crisis driving investors away: <\/strong>Beijing has cracked the whip on foreign consultancies in recent months to prevent them from sharing basic information \u2014 such as in a <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/05b57a69-5edf-4426-a4f7-1e5b6c215a7e\" style=\"\" rel=\"noopener\">televised police raid<\/a> of NYC-based <a target=\"_blank\" href=\"https:\/\/www.capvision.com\/\" style=\"\" rel=\"noopener\">Capvision<\/a> \u2014 alleging \u201cnational security\u201d concerns. The crackdown has made it difficult for foreign investors to access needed information on potential acquisitions or suppliers.<\/p>\n<p><a target=\"_blank\" id=\"t.0a7b2eff4d7c3306a1932ce0bd43698a7a2eb939\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,595<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +5.2%)<\/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>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\">1,620<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +4.5%)<\/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\">29,452<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: +18.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,410<\/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: -1.8%)<\/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>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\">4,272.96<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +5.3%)<\/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\">5,006<\/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\">7,729<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: -0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,763<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +5.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 83.34  <\/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%  <\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 1.56  <\/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\">-3.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,029.40  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+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>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 51,884.04<\/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: +112.2%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI rose 0.7% yesterday<\/strong> on turnover of SAR 11.7 bn. The index is up 5.2% 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>Amak (+9.8%), EIC (+8%) and Care (+7.3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>East Pipes (-3.8%), Takween (-3.6%) and Liva (-3.1%).<\/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\/china\/\">China<\/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=\"83622\" 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\/20\/83622\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83622\" class=\"content-area-description single-story post-83622 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">22 February (Thursday): Founding Day (national holiday) <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-29 February (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.big5constructsaudi.com\/\" style=\"\">Big 5 Construct Saudi<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-29 February (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.big5constructsaudi.com\/specialized-events\/fm-expo-saudi\/\" style=\"\">FM EXPO SAUD<\/a><\/span><span style=\"font-weight:400;\">    <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-29 February (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.big5constructsaudi.com\/specialized-events\/stone-surface-event\/\" style=\"\">Stone and Service Saudi Arabia<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARCH<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2 March (Friday): end of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/riyadhart.sa\/en\/noor-riyadh\/\" style=\"\">Noor Riyadh<\/a><\/span><span style=\"font-weight:400;\"> show, segment \u201cRefracted Identities, Shared Futures\u201d, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-6 March (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dust.ncm.gov.sa\/register\/\" style=\"\">International Conference on Sand and Dust Storms in the Arabian Peninsula<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 March (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/onegiantleap.com\/\" style=\"\">LEAP 2024,<\/a><\/span><span style=\"font-weight:400;\"> Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11 March (Monday): Flag Day (national holiday) <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in March:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Ramadan <\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-21 April (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/FutureMeetings.html\" style=\"\">IMF and World Bank spring meetings<\/a><\/span><span style=\"font-weight:400;\">, Washington, DC<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-29 April (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.weforum.org\/press\/2024\/01\/annual-meeting-2024-rebuilding-trust-amid-uncertainty\/#:~:text=The%20Forum%20announced%20it%20will,29%20April%202024%20in%20Riyadh.\" style=\"\">World Economic Forum\u2019s Special Meeting<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29 April-1 May: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futurehospitality.com\/sa\" style=\"\">Future Hospitality Summit<\/a><\/span><span style=\"font-weight:400;\"> at Al Faisaliah Hotel, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in April:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Eid Al-Fitr (national holiday)<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-21 May (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudienergyconvention.com\/\" style=\"\">Saudi Energy Convention<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-23 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thesaudifoodshow.com\/\" style=\"\">The Saudi Food Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in May:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Global Trade Review (GTR): KSA<\/span><\/li>\n<li><span style=\"font-weight:400;\">Saudi Energy Convention<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/saudi-arabia-host-world-environment-day-2024-focus-land-restoration\" style=\"\">World Environment Day<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span 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>Highlights from Saudi Capital Market Forum | SNB\u2019s USD sukuk | Quara sets share price for IPO | USD 100 mn Saudi Film Fund<\/p>\n","protected":false},"featured_media":83600,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-83599","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e668dfcf-d949-416c-92a2-42b20b858957","teaser":"Highlights from Saudi Capital Market Forum | SNB\u2019s USD sukuk | Quara sets share price for IPO | USD 100 mn Saudi Film Fund","photo_url":"https:\/\/ent.news\/2024\/2\/1897.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>Saudi is a promising equity market, investors say - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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