{"id":83837,"date":"2024-02-28T00:00:00","date_gmt":"2024-02-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=83837"},"modified":"2025-12-14T17:30:09","modified_gmt":"2025-12-14T17:30:09","slug":"extras-consumer-finance-arm-could-be-heading-to-the-tadawul","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/extras-consumer-finance-arm-could-be-heading-to-the-tadawul\/","title":{"rendered":"eXtra\u2019s consumer finance arm could be heading to the Tadawul"},"content":{"rendered":"<section id=\"83839\" 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=\"83839\">\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\/28\/avalon-pharma-shares-pop-in-tadawul-debut\/\">\r\n                            THIS MORNING: Shares of Avalon Pharmaceuticals rose 30% in their first day of trading on Tadawul                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/avalon-pharma-shares-pop-in-tadawul-debut\/\" 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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Avalon closed at SAR 106.60 a piece, up from an opening price of SAR 82. The drug maker sold 600k shares in its IPO <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7c02cf1a-7353-4702-b29a-03f59e911b3f\" style=\"\" rel=\"noopener\">earlier this month<\/a>, good for a 30% stake.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Institutional investors will be able to place orders today and tomorrow for the rump <\/strong><strong>offering of <\/strong><strong>Etihad Atheeb Telecommunication<\/strong><strong>. <\/strong>Some 876.6k shares are on offer after the company\u2019s capital raise was 96.5% subscribed, Etihad said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWpWX7jAqxkdEiRFnYwYdBxKYIThK_HtHXWl8ddf23NubAoEYiKDnjFOVSUFz3W-Is7V9B1sjD-fBsDXAxbDTW_QHQRMnFqyfAYxCWwPhrD3FJQboAPlHjx_Kx9968hUJ3FfgTcQ78CXDGAjPZfL4hy-StseBVOzAKlaZp0qPU6XKY9dAA-u6NrmUPGfmThYGvpOk8qggfiZv3M3lbqLontanXKuJXpVUXKJLkUh9yEULIWICymIVYxYWa0_ZieU3ruFEB_4!\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODQwNy9jb21wYW55U3ltYm9sLzcwNDAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a filing to Tadawul<\/a> yesterday. Alinma Investment is running the offering and serving as underwriter. <\/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\"> <strong>#1- <\/strong><strong>We\u2019re making progress connecting our electricity grid to Egypt\u2019s: <\/strong>Infrastructure for the 3 GW <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d103680d-d830-40d0-ac5b-2c1a54b4bd3d\" style=\"\" rel=\"noopener\">Saudi-Egypt electrical interconnection project<\/a> is 40%-50% complete, a government source told Enterprise Climate. The project \u2014 which consists of three stations connected via 1.35 km of overhead lines and 22 kms of submarine cables in the Gulf of Aqaba \u2014 is expected to come fully online in 2026, the source added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There have been a few delays \u2014 not uncommon in projects like this: <\/strong>Trial operations for the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/653bc78e-5d38-4458-975b-249cc9521b61\" style=\"\" rel=\"noopener\">USD 1.8 bn linkup of the two grids<\/a> were set to begin in May 2025 with an official operational launch set for later in the same year. The first 1.5 GW phase was to have started operations in June 2025, followed by the second and final 1.5 GW phase in November 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>Officials are positioning the Kingdom as a new regional exporter of clean power and are also exploring interconnections with the Greek grid that would allow us to sell green electrons to Europe. Egypt, meanwhile, is looking to sell green power and to use it to power hydrogen plants as it and the Kingdom look to capture part of the still-nascent European and regional market for green hydrogen. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong>Hydrogen is widely seen as a promising clean(er) fuel for hard-to-decarbonize sectors including maritime transport and heavy industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- Speaking of cleaner fuels: \u201cClean\u201d diesel and gasoline are now available at your <\/strong><strong>closest filling station. <\/strong>The Energy Ministry has completed the roll-out of cleaner diesel and Euro-V spec petrol across the Kingdom\u2019s stations, replacing traditional diesel and gasoline fuels in the market, it said in a <a target=\"_blank\" href=\"https:\/\/www.moenergy.gov.sa\/ar\/MediaCenter\/News\/Pages\/Euro5-clean-fuel-replacement-completed.aspx\" style=\"\" rel=\"noopener\">statement<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>Diesel is a key fuel for commercial transport fleets, but it\u2019s generally more polluting than gasoline. Set in 2009 as a European standard, Euro-V is one of the cleanest diesels in the world, with fewer particulates and less sulfur being emitted when it is burned in an engine. Only the more recently introduced Euro-VI standard is cleaner.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#3- Ireland is looking to reel in investments from GCC sovereign wealth funds for its <\/strong><strong>infrastructure projects<\/strong>, the country\u2019s Enterprise, Trade and Employment Minister Simon Coveney told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/ireland-seeks-out-middle-east-sovereign-wealth-funds-2024-02-27\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/ireland-seeks-out-middle-east-sovereign-wealth-funds-2024-02-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a> on the sidelines of the WTO meeting ongoing in Abu Dhabi. Coveney said Ireland\u2019s growing trade ties to Saudi Arabia and the UAE are behind the interest. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- <\/strong><strong>A new shipping line in the Red Sea:<\/strong> Feeder and short-sea shipping company Folk Maritime has launched here, expanding the kingdom\u2019s connection with other Red Sea ports, <a target=\"_blank\" href=\"https:\/\/splash247.com\/new-container-shipping-line-established-in-saudi-arabia\/\" style=\"\" rel=\"noopener\">Splash 247<\/a> reports. The new shipping line will operate two Red Sea services, using two 2.5k TEU feeders, connecting Jeddah with Neom, Yanbu and Ain Sokhna, Egypt. A smaller 700 TEU ship linked with Sudan will operate every two weeks.<\/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\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/humancapabilityinitiative.org\/en\/\" style=\"\" rel=\"noopener\">Human Capability Initiative<\/a><\/strong><strong> will open today <\/strong><strong>in Riyadh.<\/strong> It wraps on Thursday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Expect a strong breeze in Riyadh and Jeddah today <\/strong>with some scattered clouds in Dammam. <\/p>\n<ul>\n<li><strong>Riyadh:<\/strong> 27\u00b0C daytime \/ 14\u00b0C overnight<\/li>\n<li><strong>Jeddah:<\/strong> 29\u00b0C daytime \/ 22\u00b0C overnight<\/li>\n<li><strong>Dammam:<\/strong> 21\u00b0C daytime \/ 13\u00b0C overnight<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A look ahead:<\/strong> The mercury is set to nosedive in the capital city to 18\u00b0C tomorrow and Friday before gradually warming next week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OPEC+<\/strong><strong> has mechanisms that allow it to handle disruptions in the global energy market<\/strong>, Energy Minister Prince Abdulaziz bin Salman said in an interview yesterday with a <a target=\"_blank\" href=\"https:\/\/www.saudi-aee.sa\/wp-content\/uploads\/2024\/02\/%D9%86%D8%B4%D8%B1%D8%A9-%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D9%81%D8%A8%D8%B1%D8%A7%D9%8A%D8%B1-2024.pdf\" style=\"\" rel=\"noopener\">quarterly newsletter (pdf)<\/a> issued by the Saudi Association of Energy Economics (SAEE). Demand for oil is poised to remain strong for the coming decades, he said, rebuffing calls for a phase-out of fossil fuels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Also yesterday<\/strong>, per Reuters: \u201c<strong>OPEC+ will consider extending voluntary oil output cuts <\/strong><strong>into the second quarter<\/strong>, three OPEC+ sources told Reuters, to provide additional support for the market, and could keep them in place until the end of the year, according to two of them.\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\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>It\u2019s all Apple, all the time this morning in the international business press<\/strong> with a trifecta of stories casting Tim Cook and his crew into the spotlight. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Apple is ending its secretive, decade-long effort to build an electric car.<\/strong> The company made the announcement internally yesterday. <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-27\/apple-cancels-work-on-electric-car-shifts-team-to-generative-ai\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, which broke the news, says \u201cmany\u201d of the 2k staff working on the car will be transferred to its AI unit, where they\u2019ll work on generative AI projects. Technical challenges and signs that the market for EVs may be cooling factored into the decision, Bloomberg\u2019s Mark Gurman writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story is getting ink everywhere:<\/strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/78bc9f62-8450-45c0-8c59-c5d87a122825\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/autos\/apple-car-project-canceled-ced2b626?mod=hp_lead_pos3\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/apple-cancels-work-ev-moves-staff-ai-project-bloomberg-reports-2024-02-27\/\" 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>Sound smart:<\/strong> Gurman started breaking news about Apple as a teenage blogger at Apple news outlet <a target=\"_blank\" href=\"https:\/\/9to5mac.com\/author\/markgurman\/\" style=\"\" rel=\"noopener\">9to5Mac<\/a> and has remained a perennial thorn in Apple\u2019s side ever since.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The US Department of Justice may be on the verge of hitting Apple with an antitrust <\/strong><strong>suit<\/strong>, and California has separately told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-27\/apple-met-with-justice-department-in-final-bid-to-avoid-antitrust-suit\" style=\"\" rel=\"noopener\">Bloomberg<\/a> that it may be \u201cvery interested\u201d to join the case if it materializes. <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/apple-met-with-us-justice-department-bid-avoid-antitrust-lawsuit-bloomberg-2024-02-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a> has also picked up the story while the Wall Street Journal has a former US attorney general asking in its opinion pages, <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/siri-does-apple-stifle-competition-ftc-app-store-software-interoperability-011c2097\" style=\"\" rel=\"noopener\">\u201cSiri, Does Apple Violate Antitrust Law?\u201d<\/a> (he thinks the answer is, \u201cYes.\u201d)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Big Apple shareholders Norges Bank Investment Management and Legal & General <\/strong><strong>want Apple to be more transparent about its guidelines for the ethical use of AI<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/387c446c-55e0-4f54-a4b4-80bf9d5bc2f3\" style=\"\" rel=\"noopener\">Financial Times<\/a> writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Apple investors don\u2019t seem bothered by it all: <\/strong>The tech giant\u2019s shares closed up nearly 1% yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Goldman Sachs CEO David Solomon isn\u2019t so sure the global economy is <\/strong><strong>headed for a soft landing<\/strong>, saying that while \u201cthe world is set up for a soft landing\u201d there\u2019s a \u201chigher level uncertainty\u201d thanks to inflation and geopolitical risks. \u201cThe market is way weighted to a very soft landing. [But] when you look at the pattern of facts the last three or four years, it\u2019s hard for me to see it\u2019s going to be that simple,\u201d the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c0eca3e1-ac8c-477d-bc17-6df2c5ef0417\" style=\"\" rel=\"noopener\">Financial Times<\/a> quotes him as having 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\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>1- Al-Hilal broke the record for the most consecutive victories in the Saudi Pro League<\/strong>, surpassing Al Nassr\u2019s previous record set in 2014 after beating 2-0 Al-Ettifaq on Monday. Al-Hilal now sits atop the league\u2019s leaderboard.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- KSA Snowblast\u2019s Snowboard Contest Cup kicks off today<\/strong>, said <a target=\"_blank\" href=\"https:\/\/twitter.com\/RiyadhSeason\/status\/1760628267566907574\" style=\"\" rel=\"noopener\">Riyadh Season on X<\/a>. The <a target=\"_blank\" href=\"https:\/\/twitter.com\/RiyadhSeason\/status\/1760682894849372374\" style=\"\" rel=\"noopener\">ski iteration<\/a> of the same cup kicks off on tomorrow (Thursday, 29 February). <\/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>International Conference on Sand and Dust Storms in the Arabian <\/strong><strong>Peninsula<\/strong>from Monday, 4 March to Wednesday, 6 March. <\/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\/crown-prince-mohammed-bin-salman\/\">crown prince mohammed bin salman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy-minister\/\">Energy Minister<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/etihad-atheeb-telecommunications-go\/\">Etihad Atheeb Telecommunications (GO)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/extra\/\">eXtra<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/foreign-direct-investment\/\">foreign direct investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mckinsey\/\">Mckinsey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/opec-2\/\">OPEC+<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regional-offices\/\">regional offices<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/uihc\/\">Uihc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/united-electronic\/\">united electronic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/united-international-holding\/\">united international holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/volodymyr-zelensky\/\">Volodymyr Zelensky<\/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=\"83841\" 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=\"83841\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/extra-looks-to-ipo-30-of-its-highly-profitable-consumer-finance-arm\/\">\r\n                            eXtra looks to IPO 30% of its highly profitable consumer finance arm                        <\/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\/28\/extra-looks-to-ipo-30-of-its-highly-profitable-consumer-finance-arm\/\" target=\"_blank\">\n                    Open in new tab              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       <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=eXtra looks to IPO 30% of its highly profitable consumer finance arm&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/extra-looks-to-ipo-30-of-its-highly-profitable-consumer-finance-arm\/\">\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\/28\/extra-looks-to-ipo-30-of-its-highly-profitable-consumer-finance-arm\/&title=eXtra looks to IPO 30% of its highly profitable consumer finance arm\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=eXtra+looks+to+IPO+30%25+of+its+highly+profitable+consumer+finance+arm+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F28%2Fextra-looks-to-ipo-30-of-its-highly-profitable-consumer-finance-arm%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\/28\/extra-looks-to-ipo-30-of-its-highly-profitable-consumer-finance-arm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1277.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83842\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/extra-looks-to-ipo-30-of-its-highly-profitable-consumer-finance-arm\/1277-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1277.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1277.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1277.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1277.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83841\" class=\"content-area-description single-story post-83841 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-enterpriseam-ksa tag-extra-united-electronics-company tag-ipo-watch tag-procco-financial-services tag-retail tag-tasheel-finance-united-international-holding 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\/.ea85b073-78d3-460e-8ab9-e9c5e72ec543.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Shareholders of electronics retailer eXtra will vote next month on the proposed IPO of a <\/strong><strong>30% stake in the subsidiary that owns and operates <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.tasheelfinance.com\/\" style=\"\" rel=\"noopener\">Tasheel Finance<\/a><\/strong>, the company\u2019s non-bank financial services arm. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not clear how much eXtra hopes to raise <\/strong>from the listing, nor has the timeline for the Tadawul IPO been made public. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rundown: <\/strong>The United Electronics Company, better known as eXtra, is asking shareholders to vote on the transaction next month. It owns 99% of the United International Holding (UIHC), which in turn owns the United Company for Financial Services, which operates Tasheel as well as Procco Financial Services in Bahrain. eXtra Bahrain owns 1% of UIHC. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s shaping up to be a secondary sale: <\/strong>All proceeds will go back to eXtra, with none of the cash being captured at the UIHC level. That\u2019s likely because UIHC doesn\u2019t need the money:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UIHC is doing very nice margins: <\/strong>The company turned in net income of SAR 156.8 mn for 9M 2023, up nearly 12% year on year \u2014 and good for a 41% net margin given that it posted revenues of SAR 383.2 mn in the same period. The company is led by CEO Sakhr Almulhem (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/sakhralmulhem\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">LinkedIn<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they\u2019re building: <\/strong>UIH says it wants to be the largest provider of shariah-compliant consumer finance in the Kingdom operating across multiple categories. It benefits from access to the 14 mn customers that pass through eXtra\u2019s 48 stores across the country and is broadening the base of companies that it works with. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Go deeper:<\/strong> The company released a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/2700.pdf\" style=\"\" rel=\"noopener\">circular (pdf)<\/a> yesterday explaining the transaction to eXtra shareholders ahead of the vote. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Timeline: <\/strong>Shareholders are being asked to vote on the UIHC IPO from Friday, 15 March through Tuesday, 19 March ahead of an extraordinary general meeting of shareholders on 19 March. <strong>We\u2019ll know by Wednesday, 20 March if shareholders approve the transaction. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Our friends at HSBC have been hired to quarterback 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\/extra-united-electronics-company\/\">eXtra (United Electronics Company)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/procco-financial-services\/\">Procco Financial Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/retail\/\">Retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tasheel-finance-united-international-holding\/\">Tasheel Finance (United International Holding)<\/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=\"83843\" 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=\"83843\">\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\/28\/cenomi-centers-is-tapping-the-debt-market\/\">\r\n                            Cenomi Centers to tap international debt market with USD-denominated sukuk                        <\/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\/28\/cenomi-centers-is-tapping-the-debt-market\/\" 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\/28\/cenomi-centers-is-tapping-the-debt-market\/')\">\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\/28\/cenomi-centers-is-tapping-the-debt-market\/\">\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=Cenomi Centers is tapping the debt market&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/cenomi-centers-is-tapping-the-debt-market\/\">\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\/28\/cenomi-centers-is-tapping-the-debt-market\/&title=Cenomi Centers is tapping the debt market\">\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=Cenomi+Centers+is+tapping+the+debt+market+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F28%2Fcenomi-centers-is-tapping-the-debt-market%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\/28\/cenomi-centers-is-tapping-the-debt-market\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83844\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/cenomi-centers-is-tapping-the-debt-market\/263-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"263.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83843\" class=\"content-area-description single-story post-83843 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-cenomi-centers tag-debt tag-debt-watch tag-enterpriseam-ksa 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\/.07257303-9ad2-484e-9981-efbed3e746e8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Our friends at Cenomi Centers are planning to issue USD-denominated sukuk<\/strong> under its international borrowing program, the lifestyle centers operator said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWnmJ7jAqxkdEiRFnYwYdRxKYIThK_HtHXWl8ddf23NubAoEEiKDnjFOVSUFz3a-Jt3EDD62hj7NwYPVxPmh3571-2MSxA6tnAOPI1UA0tSe4wBA9IP_o8UMF-FtPviJh6xV4E_EOfMkwAsJzmT7-EYjU9jmQiu1ZxSrzVOnxQany2DHQwLquTS4lz5m5lYWB7yQHeVSQPJM37uZyN1F0R-tTrtVEr0oqLvGlSKU-5NhWE2ImoCyWCWZRsfKVmzpB4wogTRZp\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODQwNS9jb21wYW55U3ltYm9sLzQzMjEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a regulatory filing to Tadawul<\/a>. The size and value of the offering has yet to be determined, and will be decided depending on market conditions, according to the filing. The proceeds will be used to shore up liquidity and refinance the company\u2019s debt. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Cenomi tapped Goldman Sachs and our friends at HSBC as joint global coordinators, bookrunners and joint lead managers. ANB capital, Dubai Islamic Bank, Emirates NBD Capital, GFH Financial Group, J.P. Morgan Securities, Kamco Investment, Mashreq, Sharjah Islamic Bank and Warba Bank will act as joint lead managers and bookrunners. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Boasting a healthy debt profile:<\/strong> The company had debt on the books of about SAR 8.9 bn in 9M 2023, against SAR 27 bn in portfolio value, ultimately resulting in a 33% loan-value ratio which is \u201cquite strong and quite healthy for a real estate company,\u201d CEO <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f0939b69-f1d6-4f6b-8f0e-caa18260b175\" style=\"\" rel=\"noopener\">Rehill-Erguven said earlier this month<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM CENOMI- <\/strong>The retail giant is currently accepting orders for its USD 500 mn trust certificates offering due to expire next Monday, 4 March, it said in the filing.<\/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\/cenomi-centers\/\">Cenomi Centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/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=\"83845\" 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=\"83845\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/pif-kicks-off-its-second-debt-sale-of-the-year\/\">\r\n                            PIF begins sale of seven-year sukuk as it taps debt market for second time this year                        <\/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\/28\/pif-kicks-off-its-second-debt-sale-of-the-year\/\" 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\/28\/pif-kicks-off-its-second-debt-sale-of-the-year\/')\">\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\/28\/pif-kicks-off-its-second-debt-sale-of-the-year\/\">\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 kicks off its second debt sale of the year&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/pif-kicks-off-its-second-debt-sale-of-the-year\/\">\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\/28\/pif-kicks-off-its-second-debt-sale-of-the-year\/&title=PIF kicks off its second debt sale of the year\">\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+kicks+off+its+second+debt+sale+of+the+year+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F28%2Fpif-kicks-off-its-second-debt-sale-of-the-year%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\/28\/pif-kicks-off-its-second-debt-sale-of-the-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2293.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83846\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/pif-kicks-off-its-second-debt-sale-of-the-year\/2293-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2293.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2293.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2293.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2293.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83845\" class=\"content-area-description single-story post-83845 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-enterpriseam-ksa tag-islamic-bonds tag-public-investment-fund-pif tag-sukuk tag-yassir-al-rumayyan 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\/.c2a73656-375f-47a1-81b2-29b122060095.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Public Investment Fund (PIF) began the <\/strong><strong>sale of a senior, unsecured seven-year sukuk<\/strong> as it taps the debt market for a second time this year, <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/articles\/saudis-pif-starts-selling-7-yr-islamic-dollar-bonds-document-says\" style=\"\" rel=\"noopener\">Reuters<\/a> reported yesterday, citing an arranging bank document it has seen.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details are still scant:<\/strong> The offering\u2019s initial price guidance is set at 115 basis points over US Treasuries, the document shows, according to the newswire. The size of the offering remains undisclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> PIF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/37a7d244-11b0-45fc-b386-256165dc5333\" style=\"\" rel=\"noopener\">has hired<\/a> our friends at HSBC alongside Goldman Sachs and Standard Chartered as joint global coordinators for the offering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>The PIF tapped the debt market in January, <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/Pages\/NewsDetails.aspx?NewsId-275\/PIF-completes-pricing-of-bond-offering-worth-$5-billion-\" style=\"\" rel=\"noopener\">raising USD 5 bn<\/a> from an offeringthat was more than 5x oversubscribed, with global institutional investors placing orders worth USD 27 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>PIF <a target=\"_blank\" href=\"https:\/\/english.news.cn\/20231019\/2f5d15ba5c444b059b0027c131b4821a\/c.html\" style=\"\" rel=\"noopener\">closed<\/a> a USD 3.5 bn global sukuk issuance in October, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/saudi-arabias-pif-selling-three-tranche-dollar-green-bonds-2023-02-07\/\" style=\"\" rel=\"noopener\">two green bond<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/saudi-arabias-pif-selling-three-tranche-dollar-green-bonds-2023-02-07\/\" style=\"\" rel=\"noopener\">offerings<\/a> totaling USD 8.5 bn between 2022 and 2023, and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-arabias-pif-raises-17-billion-loan-refinancing-2022-11-30\/\" style=\"\" rel=\"noopener\">lined up<\/a> a USD 17 bn corporate facility in 2022. The fund plans to ramp up annual deployment capacity to USD 70 bn a year starting 2026, fund governor Yasir Al Rumayyan said at the FII Priority conference in Miami last week. This is a big step-up from its current annual spending clip of USD 40-50 bn.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${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-bonds\/\">Islamic bonds<\/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\/sukuk\/\">sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/yassir-al-rumayyan\/\">Yassir Al Rumayyan<\/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=\"83847\" 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=\"83847\">\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\">LOCALIZATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/aramco-seals-40-local-procurement-contracts-worth-usd-6-bn\/\">\r\n                            Aramco signs 40 local procurement contracts worth USD 6 bn as part of localization drive                        <\/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\/28\/aramco-seals-40-local-procurement-contracts-worth-usd-6-bn\/\" 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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No details were provided on the suppliers or the breakdown of the agreements.<\/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 procurement agreements include the supply of products including strategic goods like electrical equipment and drilling rigs, according to SPA.<\/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> Aramco also signed two MoUs with unnamed \u201cstrategic partners\u201d to cooperate on localization and supply chain development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All part of one big plan: <\/strong>The agreements will help boost Aramco\u2019s localization program, the <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/what-we-do\/commercial-ecosystems\/iktva\" style=\"\" rel=\"noopener\">In-Kingdom Total Value Add (IKTVA)<\/a> program, the company\u2019s Executive Vice President for Technical Services Wail Al Jaafari said. The program was launched <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/what-we-do\/commercial-ecosystems\" style=\"\" rel=\"noopener\">in 2015<\/a> in a bid to increase the use of local supplies and expand local supply chain capacities. Some SAR 1.5 tn were allocated for IKTVA spending over the decade at launch.<\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/localization\/\">Localization<\/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=\"83849\" 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=\"83849\">\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\">INFRASTRUCTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/gas-is-close-to-landing-work-on-aramcos-national-gas-grid-expansion\/\">\r\n                            GAS is close to landing work on Aramco\u2019s national gas grid expansion                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/gas-is-close-to-landing-work-on-aramcos-national-gas-grid-expansion\/\" 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\/28\/gas-is-close-to-landing-work-on-aramcos-national-gas-grid-expansion\/')\">\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\/28\/gas-is-close-to-landing-work-on-aramcos-national-gas-grid-expansion\/\">\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=GAS is close to landing work on Aramco\u2019s national gas grid expansion&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/gas-is-close-to-landing-work-on-aramcos-national-gas-grid-expansion\/\">\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\/28\/gas-is-close-to-landing-work-on-aramcos-national-gas-grid-expansion\/&title=GAS is close to landing work on Aramco\u2019s national gas grid expansion\">\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=GAS+is+close+to+landing+work+on+Aramco%E2%80%99s+national+gas+grid+expansion+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F28%2Fgas-is-close-to-landing-work-on-aramcos-national-gas-grid-expansion%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\/28\/gas-is-close-to-landing-work-on-aramcos-national-gas-grid-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2638.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83850\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/gas-is-close-to-landing-work-on-aramcos-national-gas-grid-expansion\/2638-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2638.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2638.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2638.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2638.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83849\" class=\"content-area-description single-story post-83849 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure tag-aramco tag-energy tag-enterpriseam-ksa tag-gas-arabian-services-gas tag-infrastructure tag-master-gas-system-mgs 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\/.02fe9e7f-47b6-426a-bd0f-63d5ed0bb655.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GAS close to landing contracts for Aramco\u2019s big gas grid expansion:<\/strong> Nomu-listed <a target=\"_blank\" href=\"https:\/\/gasarabian.com\/\" style=\"\" rel=\"noopener\">Gas<\/a><a target=\"_blank\" href=\"https:\/\/gasarabian.com\/\" style=\"\" rel=\"noopener\">Arabian Services Co. (GAS)<\/a> received two non-binding letters of intent (LOIs) from state-owned oil giant Aramco for the expansion of the Kingdom\u2019s primary natural gas pipeline, it said in two disclosures to Tadawul (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/ldBNC4JAEAbg39LB806aX91W0i0x1ES0vcRaYILretgK_31LnQT7cG4DzwvvDKKoRLRj96ZmshEda9V-pNbJxBboWwfiGLs2pEHokV2EDT9doWIMSKD7CrheuvHJEoiN6Kw8ZImpQLI3IjgAAeu_PHwYDL_zdEwmLhiDiYov8KVDiGjdiur9z6uU_VoDDSS7sMet1VTHs-A964Zs4JVQyDV1B_U8z0toEl7gxRN0G1WO\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODQxMi9jb21wYW55U3ltYm9sLzk1MjgvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/ldBNC4JAEAbgX-MxdtL86raSbomhJqLtJdYKE9xdD1b471vqJNjX3AaeF94ZRFGJqGC3pmZ9IwVr1b6n1sHEFuhrB-IYuzakQeiRTYQNP12gYgxIoPsKuF668skciI3oX3nIElOBZGtEsAMC1m95eDMYvufpmExcMAYTFZ_gQ4cQ0bqV1eufl77vlhpo0LMTu19bTXU8St4xMWQDr6RCrqk7KDsL1PE8L6FJeDHDDwuC7TU!\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODQxMS9jb21wYW55U3ltYm9sLzk1MjgvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">here<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What GAS might be getting: <\/strong>The LOIs see GAS providing engineering, procurement, and construction (EPC) work worth SAR 416.3 mn for the East and Qassim Clusters and SAR 344.6 mn for Shedgum to EWPS-1 as part of the USD 10 bn third phase of expansion a program to expand Aramco\u2019s Master Gas System (MGS-3).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About <\/strong><strong>GAS<\/strong><strong>: <\/strong>Established in 1992 as a trading house in Dammam, the company evolved to become a total technical solutions provider, venturing into trading of industrial products and solutions as well as manufacturing, according to its website. It boasts clients in the oil, gas, petrochemicals, electricity and cement industries and is an approved vendor of Aramco, Saudi Electricity Company (SEC), and the Royal Commission of Jubail and Yanbu (RCJY). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> Sources told Meed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5e72b3df-3da4-4e96-94ad-2c310ac94330\" style=\"\" rel=\"noopener\">last week<\/a> that Aramco has issued LOIs to contractors it plans to hire to carry out EPC work on the planned expansion of the nation\u2019s primary natural gas system. It is expected to award official contracts to the winning bidders \u201clater in this quarter\u201d, sources told Meed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART-<\/strong> Built in the mid-1970s, the <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/elements-magazine\/2020\/master-gas-system-fueling-a-nation\" style=\"\" rel=\"noopener\">MGS<\/a> is the Kingdom\u2019s main gas pipeline that includes a network linking gas production and processing sites across the Kingdom. Aramco has for some years now been working to expand the system. The MGS now has a capacity of 12.5 bn standard cubic feet per day.<\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gas-arabian-services-gas\/\">Gas Arabian Services (GAS)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/master-gas-system-mgs\/\">Master Gas System (MGS)<\/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=\"83851\" 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=\"83851\">\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\">MANUFACTURING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/a-snapshot-of-what-happened-in-manufacturing-last-year\/\">\r\n                            A snapshot of what happened in Saudi\u2019s manufacturing sector last year                        <\/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\/28\/a-snapshot-of-what-happened-in-manufacturing-last-year\/\" 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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Local firms secured two thirds of these licenses, followed by foreign firms at 194 licenses, and JVs at 142. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SMEs are leading the charge:<\/strong> Small establishments issued the majority of licenses with 1.2k followed by medium-sized establishments (158), micro-enterprises (15), and large establishments (3).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most active sectors:<\/strong> Food product manufacturing led with 244 licenses, followed by nonmetallic mineral production (176), metal forming products (165), and rubber\/plastic product manufacturing (123).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More licenses were handed out to businesses in Riyadh (479) than anywhere else in the <\/strong><strong>Kingdom<\/strong>, followed by the Eastern Pegion (340), then Makkah (269), Qassim (87), and Madinah (79). <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/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=\"83853\" 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=\"83853\">\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\/28\/sabic-has-turned-in-what-might-be-its-first-ever-net-loss\/\">\r\n                            Sabic has turned in what might be its first-ever net loss                        <\/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\/28\/sabic-has-turned-in-what-might-be-its-first-ever-net-loss\/\" 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\/28\/sabic-has-turned-in-what-might-be-its-first-ever-net-loss\/')\">\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\/28\/sabic-has-turned-in-what-might-be-its-first-ever-net-loss\/\">\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 has turned in what might be its first-ever net loss&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/sabic-has-turned-in-what-might-be-its-first-ever-net-loss\/\">\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\/28\/sabic-has-turned-in-what-might-be-its-first-ever-net-loss\/&title=Sabic has turned in what might be its first-ever net loss\">\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+has+turned+in+what+might+be+its+first-ever+net+loss+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F28%2Fsabic-has-turned-in-what-might-be-its-first-ever-net-loss%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\/28\/sabic-has-turned-in-what-might-be-its-first-ever-net-loss\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2718.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83854\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/sabic-has-turned-in-what-might-be-its-first-ever-net-loss\/2718-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2718.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2718.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2718.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2718.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83853\" class=\"content-area-description single-story post-83853 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseam-ksa tag-hadeed tag-national-medical-care 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\/.ce8db774-ccea-4e1f-9335-ee02f1d86d25.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Petrochemicals giant Saudi Basic Industries Corp<\/strong><strong> (Sabic) reported a net loss of SAR 2.8 <\/strong><strong>bn in 2023 <\/strong>against a net income of SAR 16.5 bn a year earlier, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/2655.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Its revenues were down 22.7% y-o-y last year to SAR 141.5 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This could be Sabic\u2019s first ever net loss. <\/strong>As we note in Saudi in the News this morning, Bloomberg has no record of Sabic losing money in a year in data that goes back to the mid-1990s.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fueling the drop:<\/strong> Sabic \u2014one of the world\u2019s largest petrochemicals companies \u2014 attributed the net losses to discontinued operations \u201cdriven mainly from the fair valuation of the [steel subsidiary] Hadeed business \u2026 and financial performance\u201d last year. Revenues came in lower due to a drop in average selling prices and sold quantities, Sabic said, adding that its sales were hit by a sluggish global demand on petrochemicals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Sabic <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0c9fcbe7-3ba2-4617-8dfc-49c36ec16d71\" style=\"\" rel=\"noopener\">agreed last year<\/a> to sell its steel subsidiary Hadeed to the Public Investment Fund last year at an enterprise value of SAR 12.5 bn. It said the divestment would allow it to \u201coptimize its portfolio and focus on its core business.\u201d The transaction, which is subject to customary conditions and regulatory approvals, is set to close before the end of this quarter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A look at Q4:<\/strong> Sabic reported a net loss of SAR 1.7 bn in the fourth quarter of 2023 against a net income of SAR 300 mn in the corresponding quarter a year earlier, according to its earnings release. Its revenues were down 11% y-o-y in the fourth quarter of 2023 to SAR 35 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Highlights of the year:<\/strong> Sabic said it reached a final investment decision to develop a world-scale USD 6.4 bn petrochemical complex in China\u2019s Fujian with China\u2019s Fujian Energy Petrochemical, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/2669.pdf\" style=\"\" rel=\"noopener\">earnings call presentation (pdf)<\/a>. They broke ground on the project <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/560178b2-c84c-4f0d-aa81-1375826a4a49\" style=\"\" rel=\"noopener\">earlier this month<\/a>. It also announced with China\u2019s Sinopec the start of commercial operations at a new polycarbonate at the Sinopec Sabic Tianjin Petrochemical Co. <\/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\">CARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>National <\/strong><strong>Medical Care's net income rose 42% y-o-y to SAR 241 mn in 2023<\/strong> on the back of a hike in patient admissions, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/2630.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues increased 18% y-o-y to SAR 1 .1 bn over the same period. On a quarterly basis,the bottom line grew 14% y-o-y to SAR 63 mn, while its top line was up 19% y-o-y to SAR 300 mn.<\/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\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hadeed\/\">Hadeed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-medical-care\/\">National Medical Care<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sabic\/\">SAbic<\/a>\n     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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=\"83856\" 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=\"83856\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/wherein-the-nyts-dealbook-unleashes-its-inner-orientalist\/\">\r\n                            Wherein the NYT\u2019s Dealbook unleashes its inner Orientalist                        <\/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\/28\/wherein-the-nyts-dealbook-unleashes-its-inner-orientalist\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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Orientalist&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/wherein-the-nyts-dealbook-unleashes-its-inner-orientalist\/\">\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\/28\/wherein-the-nyts-dealbook-unleashes-its-inner-orientalist\/&title=Wherein the NYT\u2019s Dealbook unleashes its inner Orientalist\">\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=Wherein+the+NYT%E2%80%99s+Dealbook+unleashes+its+inner+Orientalist+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F28%2Fwherein-the-nyts-dealbook-unleashes-its-inner-orientalist%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\/28\/wherein-the-nyts-dealbook-unleashes-its-inner-orientalist\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83856\" class=\"content-area-description single-story post-83856 post type-post status-publish format-standard hentry category-saudi-in-the-news tag-alula tag-automotive tag-enterpriseam-ksa tag-esl-faceit-group tag-esports tag-future-investment-initiative tag-lucid tag-saudi-in-the-news 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\/.bda3ddf9-b1d1-498d-8a33-50e06a69429e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It\u2019s a busy morning for the Kingdom in the international business press. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The New York Times\u2019 flagship business newsletter, Dealbook, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/02\/26\/business\/dealbook\/saudi-arabia-miami-investors.html\" style=\"\" rel=\"noopener\">took note of the Future<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/02\/26\/business\/dealbook\/saudi-arabia-miami-investors.html\" style=\"\" rel=\"noopener\">Investment Initiative conference in Miami<\/a><\/strong>, which has so far largely made headlines for remarks by PIF boss Yasir Al-Rumayyan about (a) the Kingdom\u2019s AI ambitions and (b) the fund\u2019s goal of investing a bit more abroad in the coming years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dealbook unleashed its inner Orientalist<\/strong>, writing that \u201clots of big names showed up\u201d and \u201ceveryone wanted everything to look normal. \u2026 Attendees mingled over wine, which is banned in Saudi Arabia, and Carbone\u2019s spicy rigatoni. But everything isn\u2019t entirely normal.\u201d Why? One guest said \u201cthe real test of Saudi\u2019s makeover is the level of her family\u2019s concern when she visits the country.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>God forbid:<\/strong> \u201cSome guests whispered that the Saudis expect private equity firms to set up offices there and make sure their CEO makes at least one annual visit as part of any deal.\u201d Shocker, right?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Quick memo to Andrew Ross Sorkin:<\/strong> Y\u2019all can do better than this. <\/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>MEANWHILE- The CEO of PIF-backed EV maker Lucid says the company is \u201ccrucial\u201d to <\/strong><strong>Saudi<\/strong> as one of the cornerstones of the Kingdom\u2019s economic diversification program. \u201cWe\u2019re in this together for the long run. Nobody wants this more than Saudi Arabia,\u201d Peter Rawlinson said in an interview with <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-27\/lucid-ceo-says-struggling-ev-maker-is-crucial-to-saudi-arabia\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. \u201cThis is like a marriage.\u201d Bloomberg takes note of the company\u2019s sliding valuation and a perception in some quarters that the global EV market may be cooling. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also worth knowing about:<\/strong><\/p>\n<ul>\n<li><strong><a target=\"_blank\" href=\"https:\/\/eslfaceitgroup.com\/\" style=\"\" rel=\"noopener\">ESL Faceit Group<\/a><\/strong><strong>, the company set to organize the 2024 Esports World Cup, is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-27\/saudi-backed-esports-arm-esl-faceit-to-cut-15-of-staff\" style=\"\" rel=\"noopener\">cutting<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-27\/saudi-backed-esports-arm-esl-faceit-to-cut-15-of-staff\" style=\"\" rel=\"noopener\">15% of its staff<\/a><\/strong>to support \u201csustainable growth ambitions and profitability.\u201d PIF\u2019s Savvy Games Group bought Faceit USD 1.5 bn in 2022. <\/li>\n<li><strong>The arrest of Amr Almadani, former head of the Royal Commission of AlUla, is <\/strong><strong>making waves in France<\/strong>, where <a target=\"_blank\" href=\"https:\/\/www.lemonde.fr\/culture\/article\/2024\/02\/24\/afalula-l-agence-francaise-chargee-de-projets-touristiques-en-arabie-saoudite-fait-l-objet-d-un-audit-de-l-inspection-des-finances_6218317_3246.html\" style=\"\" rel=\"noopener\">Le monde<\/a> reports that the French outfit hired to help the RCU develop AlUla into a global arts destination is now facing an internal audit. <\/li>\n<li><strong>Travel industry must-read Skift has its final sponsored content spotlight on <\/strong><strong>tourism in <\/strong><strong>the Kingdom<\/strong> \u2014 <a target=\"_blank\" href=\"https:\/\/skift.com\/2024\/02\/27\/whats-next-tourism-in-saudi-arabia\/\" style=\"\" rel=\"noopener\">an interview with Niall Gibbons, Neom\u2019s head of tourism<\/a>. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-27\/saudi-chemicals-giant-reports-surprise-loss-on-slowing-demand\" style=\"\" rel=\"noopener\">Bloomberg<\/a> has taken note of what it says is <strong>Sabic\u2019s only full-year loss<\/strong> in data going back to 1996.<\/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\/alula\/\">AlUla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/esl-faceit-group\/\">ESL Faceit Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/esports\/\">esports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/future-investment-initiative\/\">Future Investment Initiative<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/lucid\/\">Lucid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83857\" 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=\"83857\">\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\">CABINET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/cabinet-approves-new-railways-law-at-an-otherwise-slow-weekly-meeting\/\">\r\n                            Cabinet approves new Railways Law at an otherwise-slow weekly meeting                        <\/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\/28\/cabinet-approves-new-railways-law-at-an-otherwise-slow-weekly-meeting\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/x.com\/intent\/post?text=Cabinet approves new Railways Law at an otherwise-slow weekly meeting&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/cabinet-approves-new-railways-law-at-an-otherwise-slow-weekly-meeting\/\">\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\/28\/cabinet-approves-new-railways-law-at-an-otherwise-slow-weekly-meeting\/&title=Cabinet approves new Railways Law at an otherwise-slow weekly meeting\">\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=Cabinet+approves+new+Railways+Law+at+an+otherwise-slow+weekly+meeting+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F28%2Fcabinet-approves-new-railways-law-at-an-otherwise-slow-weekly-meeting%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\/28\/cabinet-approves-new-railways-law-at-an-otherwise-slow-weekly-meeting\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2720.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83858\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/cabinet-approves-new-railways-law-at-an-otherwise-slow-weekly-meeting\/2720-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2720.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2720.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2720.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2720.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83857\" class=\"content-area-description single-story post-83857 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet tag-cabinet-watch tag-enterpriseam-ksa 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\/.5830aada-cf0c-44c8-8655-f9f3d3e1578f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cabinet has approved a new Railways Law <\/strong>that will set safety and service standards and <a target=\"_blank\" href=\"https:\/\/arab.news\/wknvs\" style=\"\" rel=\"noopener\">ensure fair competition on the rails<\/a>. Transport and Logistics Minister Saleh Al-Jasser says the law will allow operators to make better use of the nation\u2019s growing rail system and build critical infrastructure. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong><strong>Cabinet reiterated the Kingdom\u2019s support to regional and international efforts <\/strong><strong>to ban all forms of weapons of mass destruction<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2055554\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. They also echoed a call to address the worsening crisis in Gaza and escalation of military operations by Israel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also approved at yesterday\u2019s cabinet meeting: <\/strong><\/p>\n<ul>\n<li>Mandating the Energy Minister to discuss and sign two MoUs on energy with Malaysia and Tanzania; <\/li>\n<li>Mandating the Environment, Water and Agriculture Minister to discuss and sign a MoU with Thailand in the field of natural resources and environment; <\/li>\n<li>Mandating the Environment, Water and Agriculture Minister to discuss protocols with China regarding inspection and quarantine requirements for dairy, poultry and aquaculture products exported from the Kingdom to China;<\/li>\n<li>Mandating the Investment Minister to discuss and sign an agreement with Barbados to promote direct investments;<\/li>\n<li>The Kingdom\u2019s membership in the International Drought Resilience Alliance.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cabinet\/\">Cabinet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cabinet-watch\/\">CABINET WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83859\" 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=\"83859\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/chemanol-is-the-new-majority-owner-of-addar-plus-logistics-manufacturing-infrastructure-investment\/\">\r\n                            Chemanol is the new majority owner of Addar. PLUS: Logistics, manufacturing, infrastructure, investment,                        <\/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\/28\/chemanol-is-the-new-majority-owner-of-addar-plus-logistics-manufacturing-infrastructure-investment\/\" 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\/28\/chemanol-is-the-new-majority-owner-of-addar-plus-logistics-manufacturing-infrastructure-investment\/')\">\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\/28\/chemanol-is-the-new-majority-owner-of-addar-plus-logistics-manufacturing-infrastructure-investment\/\">\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=Chemanol is the new majority owner of Addar. PLUS: Logistics, manufacturing, infrastructure, investment,&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/chemanol-is-the-new-majority-owner-of-addar-plus-logistics-manufacturing-infrastructure-investment\/\">\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\/28\/chemanol-is-the-new-majority-owner-of-addar-plus-logistics-manufacturing-infrastructure-investment\/&title=Chemanol is the new majority owner of Addar. PLUS: Logistics, manufacturing, infrastructure, investment,\">\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=Chemanol+is+the+new+majority+owner+of+Addar.+PLUS%3A+Logistics%2C+manufacturing%2C+infrastructure%2C+investment%2C+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F28%2Fchemanol-is-the-new-majority-owner-of-addar-plus-logistics-manufacturing-infrastructure-investment%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\/28\/chemanol-is-the-new-majority-owner-of-addar-plus-logistics-manufacturing-infrastructure-investment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2729.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83860\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/chemanol-is-the-new-majority-owner-of-addar-plus-logistics-manufacturing-infrastructure-investment\/2729-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2729.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2729.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2729.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2729.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83859\" class=\"content-area-description single-story post-83859 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-a-cube tag-also-on-our-radar tag-customs-clearance-license tag-enterpriseam-ksa tag-hewlett-packard-enterprise-hpe tag-infrastructure tag-investment tag-investment-ministry tag-munawla-cargo tag-red-sea-museum tag-rowad-engineering tag-zakat-tax-and-customs-authority-zatca 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\/.1d81cefa-a53a-48e2-9fbd-845602e3e66e.mp3\"><\/audio><\/figure><p class=\"tag-border-left\"> M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Methanol Chemicals (Chemanol) has become the majority owner of Addar Chemicals <\/strong><strong>(ACC)<\/strong> after acquiring an 84% stake in the local chemicals manufacturer in a SAR 46 mn agreement, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMjAwFC_IDc0wiAzIDfcUVERAFZuzDQ!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODQwMy9jb21wYW55U3ltYm9sLzIwMDEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>move<\/strong><strong> plays into <\/strong><strong>Chemanol\u2019s<\/strong><strong> plans to boost its share in the specialty chemicals <\/strong><strong>market and expand its product offerings.<\/strong> The acquisition also helps ACC cut down on production costs as some of its manufacturing lines will be merged into Chemanol\u2019s. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PIF-owned The Helicopter and Jet Company and Bristow Arabia Aircraft & Maintenance <\/strong><strong>Services will work on \u201cadvanced air mobility\u201d and other \u201cvertical lift\u201d initiatives<\/strong> in the Kingdom after signing an MoU, the two <a target=\"_blank\" href=\"https:\/\/verticalmag.com\/press-releases\/bristow-and-the-helicopter-company-form-strategic-partnership-to-explore-advanced-air-mobility-opportunities\/\" style=\"\" rel=\"noopener\">said in a joint press release<\/a>. Neither company went into detail about the type of solutions they might be exploring, when service could begin, or when products might hit the market. <\/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\">DATA SECURITY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Homegrown records management firm Tejoury has set up shop in the UAE<\/strong> with the inauguration of a \u201cregional hub\u201d in Dubai Investments Park as part of the company\u2019s ongoing expansion in the region, it said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/tejoury_newopening-uae-activity-7165617363764035584-KDub?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement on Linkedin<\/a> last week. Tejoury is set to offer prime document management solutions for businesses in the UAE and neighboring countries, it said. Tejoury currently has 26 operational facilities in the region, according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/technology-and-telecom\/saudi-arabias-tejoury-opens-regional-hub-in-dubai-tmpn7lqo\" style=\"\" rel=\"noopener\">Mubasher<\/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\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nomu-listed shipping firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.munawlacargo.com.sa\/\" style=\"\" rel=\"noopener\">Munawla Cargo<\/a><\/strong><strong> has obtained a customs clearance license <\/strong>from the Zakat, Tax and Customs Authority, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details?locale=en&anCat=67&anId=78414&cs=9571\" 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\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Global server maker Hewlett Packard Enterprise (HPE) has begun manufacturing servers <\/strong><strong>in Saudi Arabia with a <\/strong><strong>local player<\/strong> in a bid to address regional demand, HPE CEO Antonio Neri told <a target=\"_blank\" href=\"https:\/\/asia.nikkei.com\/Spotlight\/Supply-Chain\/HPE-taps-Saudi-Arabia-as-it-extends-its-production-footprint\" style=\"\" rel=\"noopener\">Nikkei Asia<\/a>. No further information was provided.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">E-COMMERCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E<\/strong><strong>-commerce\u2019s share in the overall retail market is expected to rise 15 percentage points<\/strong><strong> to <\/strong><strong>25% by 2035<\/strong>, McKinsey Middle East Partner Abdellah Iftahy told <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1708299\" style=\"\" rel=\"noopener\">Argaam<\/a> on the sidelines of Retail Leaders Circle MENA Summit. Kearney put e-commerce\u2019s current market share at 6% in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/64c6ff57-356b-4c2b-bd69-5c0b7d3ca789\" style=\"\" rel=\"noopener\">a report out last week<\/a>. Iftahy sees millennials and younger consumers accounting for 80% of total spending by 2035, up from less than 35% today. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Tourism Development Fund signed an MoU with the PIF-owned New Murabba <\/strong><strong>Development Company to promote its landmark downtown project in Riyadh<\/strong> as a tourist destination, it said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7168350478236348418\/\" style=\"\" rel=\"noopener\">statement on Linkedin<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Egypt-based Rowad Modern Engineering is looking to secure three contracts in the <\/strong><strong>Kingdom<\/strong>, CEO Mohamed Mahlab told Asharq Business (<a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/60906\/%D8%B1%D9%88%D8%A7%D8%AF-%D8%A7%D9%84%D9%87%D9%86%D8%AF%D8%B3%D8%A9-%D8%A7%D9%84%D8%AD%D8%AF%D9%8A%D8%AB%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D9%86%D9%81%D8%B0-3-%D9%85%D8%B4%D8%A7%D8%B1%D9%8A%D8%B9-%D9%81%D9%8A-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">watch, runtime: 4:08<\/a>). The projects include the Red Sea museum in Jeddah and a power plant in Rabigh, he said, without providing further details.<\/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\">INVESTMENT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>Investment <\/strong><strong>Ministry inked a SAR 550 mn MoU with Pakistani<\/strong><strong> A-cube<\/strong><strong> to develop<\/strong><strong> 12 <\/strong><strong>entertainment parks across the Kingdom<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/MISA\/status\/1762431424517357636?s=20\" style=\"\" rel=\"noopener\">post on X<\/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\/a-cube\/\">a cube<\/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\/customs-clearance-license\/\">Customs Clearance License<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hewlett-packard-enterprise-hpe\/\">Hewlett Packard Enterprise (HPE)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment\/\">Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-ministry\/\">Investment Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/munawla-cargo\/\">Munawla Cargo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/red-sea-museum\/\">Red Sea museum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/rowad-engineering\/\">Rowad Engineering<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/zakat-tax-and-customs-authority-zatca\/\">Zakat Tax and Customs Authority (ZATCA)<\/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=\"83861\" 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=\"83861\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/dubais-parkin-to-ipo-next-month\/\">\r\n                            Dubai will sell 25% of parking space unit Parkin on the DFM in March                        <\/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\/28\/dubais-parkin-to-ipo-next-month\/\" 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\/28\/dubais-parkin-to-ipo-next-month\/')\">\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\/28\/dubais-parkin-to-ipo-next-month\/\">\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=Dubai\u2019s Parkin to IPO next month&url=https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/dubais-parkin-to-ipo-next-month\/\">\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\/28\/dubais-parkin-to-ipo-next-month\/&title=Dubai\u2019s Parkin to IPO next month\">\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=Dubai%E2%80%99s+Parkin+to+IPO+next+month+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F02%2F28%2Fdubais-parkin-to-ipo-next-month%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\/28\/dubais-parkin-to-ipo-next-month\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2696.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83862\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/dubais-parkin-to-ipo-next-month\/2696-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2696.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2696.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2696.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2696.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83861\" class=\"content-area-description single-story post-83861 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-emaar-the-economic-city tag-enterpriseam-ksa tag-ipo-watch tag-mena-ipos tag-planet-finance tag-saudi-awwal-bank-sab 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\/.02b1f315-ae08-40a2-b972-b19a341c1636.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dubai is offering up to a 25% stake in recently launched Parkin<\/strong> \u2014 Dubai\u2019s public parking operator \u2014 in an IPO on the Dubai Financial Market in March, according to a <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/February\/27-02\/parkin-company-pjsc\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a> statement. The Dubai Investment Fund will be selling 745 mn shares, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/2645.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a> published yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong><a target=\"_blank\" href=\"https:\/\/www.rta.ae\/\" style=\"\" rel=\"noopener\">Dubai\u2019s Road and Transport Authority<\/a> launched Parkin in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/cb7f10c6-5980-4bce-967e-c5e41390f92c\" style=\"\" rel=\"noopener\">January<\/a>, just a few months after saying it would go public with its taxi and parking assets. The company takes care of the design and management of public and private parking spaces in the emirate and issuing parking permits.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The book building process starts next Tuesday <\/strong>and will conclude on 12 March for retail investors and a day later for institutional investors. Shares are expected to begin trading on 21 March.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>Rothschild & Co\u2019s Middle East division was tapped as independent financial advisor. Our friends at HSBC Middle East join Emirates NBD, First Abu Dhabi Bank, Abu Dhabi Commercial Bank, and our friends at EFG Hermes UAE as joint lead managers.<\/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>Asian markets are mixed but were trending mostly lower in early trading this morning. <\/strong>Futures once again point to a soft open for stocks in New York, London, Frankfurt and Toronto later today.<\/p>\n<p><a target=\"_blank\" id=\"t.60dd068c2229eee526f50e766712aa8ed68bc484\" 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\">12,601.55<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +5.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,627.71<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +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\">29,205.16<\/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\">+0.9% (YTD: +17.3%)<\/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>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\">9,287.80<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: -3%)<\/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\">4,272.55<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2% (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>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\">5,078.18<\/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: +6.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,683.02<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.02% (YTD: -0.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,885.74<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +8.1%)<\/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>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 83.65<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 1.62<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.7%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,039.10<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr style=\"\">\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:50.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">up<\/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 57,112.09<\/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\">+4.6% (YTD: +143.1%)<\/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 0.6% yesterday <\/strong>on turnover of SAR 7.4 bn. The index is up 5.3% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Avalon Pharma (+30%), SSP (+9.9%) and BATIC (+9.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Amiantit (-5.2%), MCDC (-2.9%) and AlRajhi Takaful (-2.8%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Emaar, The Economic City CEO Cyril Piaia will not be extending his term<\/strong> at the real estate developer beyond his contract\u2019s end date on Saturday, 31 August 2024, the company said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWhEQ3WFUjI-IEgPOxgw6jiQwQ3CU-PeOutL46q7tubc3BQIJEEHPGacqk4Lmul8Td-P4LlojD-fB0BrgYtjpLfqDoIkTG-JnAKPQ0UA4a01xiQG6QP7R44fy8beefEWC9ivwJuId-JJhDITnMn38wxdpy-NAKrZnFavMU6XHB6XKY9dAA-u6NrmUPGfmVhYGvpMc5FFB8kzeuJvL3UTRHa1PuVYTvSqpuESXIpX6kG1ZCBETUBarBLOwiD3lpLbfuALHTBv_\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODQwNC9jb21wYW55U3ltYm9sLzQyMjAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a filing to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- SAB\u2019s BoD has recommended buying back 4.7 mn shares for the lender\u2019s ESOP<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyNDAzEA_ODVPvyA3NMIgMyA3XNdREQBPj2eq\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODQxMy9jb21wYW55U3ltYm9sLzEwNjAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/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\/emaar-the-economic-city\/\">Emaar The Economic City<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mena-ipos\/\">MENA IPOs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-awwal-bank-sab\/\">Saudi Awwal Bank (SAB)<\/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=\"83863\" 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=\"83863\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/28\/zelensky-touches-base-in-riyadh\/\">\r\n                            Zelensky touched base yesterday in Riyadh                        <\/a>\r\n                    <\/h3>\r\n\r\n             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      \n<article id=\"post-83863\" class=\"content-area-description single-story post-83863 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-enterpriseam-ksa tag-mohammed-bin-salman tag-saudi-ukraine-relations wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.617413fe-c240-40f1-88d1-46465b175413.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Crown Prince and Prime Minister Mohammed bin Salman and Ukrainian President <\/strong><strong>Volodymyr <\/strong><strong>Zelensky met yesterday in Riyadh<\/strong> to discuss Kyiv\u2019s \u201cpeace formula\u201d to end its war with Russia, according to two separate statements (<a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2055470\" style=\"\" rel=\"noopener\">here<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.president.gov.ua\/en\/news\/u-saudivskij-araviyi-volodimir-zelenskij-zustrivsya-zi-spadk-89377\" style=\"\" rel=\"noopener\">here<\/a>). Zelensky said that the Kingdom \u201ccan help find equitable solutions\u201d for the conflict. Preparations for the upcoming Global Peace Summit that is expected to be held in Switzerland this spring was also on the agenda. <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/ukraines-zelenskiy-says-he-is-saudi-arabia-working-visit-2024-02-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-27\/zelenskiy-arrives-in-saudi-arabia-for-talks-with-crown-prince\" style=\"\" rel=\"noopener\">Bloomberg<\/a> took note of the visit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- FM, Blinken talk Gaza:<\/strong> Foreign Minister Prince Faisal bin Farhan discussed developments in Gaza during a phone call with US Secretary of State Antony Blinken, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2055489\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. The two also discussed the conflict in Sudan, according to a <a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-blinkens-call-with-saudi-foreign-minister-prince-faisal-bin-farhan-al-saud-13\/\" style=\"\" rel=\"noopener\">State Department readout<\/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\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mohammed-bin-salman\/\">Mohammed bin Salman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-ukraine-relations\/\">Saudi-Ukraine relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83865\" 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\/28\/83865\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83865\" class=\"content-area-description single-story post-83865 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;\">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>International Conference on Sand and Dust Storms in the Arabian Peninsula<\/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;\">10 or 11 March: First day of Ramadan (tbc based on sighting of the crescent moon). <\/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;\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10 April (Wednesday): Eid al-Fitr (tbc based on the start date of Ramadan)<\/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> 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;\">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>| eXtra wants to IPO its consumer finance arm | Cenomi plans USD sukuk | PIF starts selling seven-year sukuk | Sabic\u2019s first-ever net loss?<\/p>\n","protected":false},"featured_media":83838,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-83837","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d6a7cae2-8e7f-4594-a85e-25ab8f072da7","teaser":"| eXtra wants to IPO its consumer finance arm | Cenomi plans USD sukuk | PIF starts selling seven-year sukuk | Sabic\u2019s first-ever net loss?","photo_url":"https:\/\/ent.news\/2024\/2\/2592.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\/ 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