{"id":84082,"date":"2024-03-06T00:00:00","date_gmt":"2024-03-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=84082"},"modified":"2025-12-14T17:33:52","modified_gmt":"2025-12-14T17:33:52","slug":"day-2-reports-from-leap-2024-efg-hermes-one-on-one","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/day-2-reports-from-leap-2024-efg-hermes-one-on-one\/","title":{"rendered":"Day 2 reports from Leap 2024 + EFG Hermes One on One"},"content":{"rendered":"<section id=\"84084\" 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=\"84084\">\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\/03\/06\/its-day-three-of-leap-2024-deepfest-and-the-efg-hermes-one-on-one\/\">\r\n                            THIS MORNING: It\u2019s day three of Leap 2024, Deepfest, and the EFG Hermes One on One                        <\/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\/03\/06\/its-day-three-of-leap-2024-deepfest-and-the-efg-hermes-one-on-one\/\" 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\/03\/06\/its-day-three-of-leap-2024-deepfest-and-the-efg-hermes-one-on-one\/')\">\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\/03\/06\/its-day-three-of-leap-2024-deepfest-and-the-efg-hermes-one-on-one\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=It\u2019s day three of Leap 2024, Deepfest, and the EFG Hermes One on One&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/its-day-three-of-leap-2024-deepfest-and-the-efg-hermes-one-on-one\/\">\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\/03\/06\/its-day-three-of-leap-2024-deepfest-and-the-efg-hermes-one-on-one\/&title=It\u2019s day three of Leap 2024, Deepfest, and the EFG Hermes One on One\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=It%E2%80%99s+day+three+of+Leap+2024%2C+Deepfest%2C+and+the+EFG+Hermes+One+on+One+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F06%2Fits-day-three-of-leap-2024-deepfest-and-the-efg-hermes-one-on-one%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\/03\/06\/its-day-three-of-leap-2024-deepfest-and-the-efg-hermes-one-on-one\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84084\" class=\"content-area-description single-story post-84084 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-aramco tag-deepfest tag-efg-hermes tag-enterpriseam-ksa tag-ipo-watch tag-leap tag-tourism-ministry tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.7c539f35-eec1-4065-9cf8-ddc1306aa78e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>We are 4-5 sleeps away from Ramadan and there is no slowing down in terms of news from day two of Leap 2024 and co-hosted Deepfest in Riyadh as well as from EFG Hermes\u2019 One on One conference in Dubai.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY AT HOME: USD 888 mn.<\/strong> That\u2019s the total value of investments disclosed yesterday in Riyadh during day two of Leap 2024 and Deepfest, the AI-focused offshoot. The vast majority of the investments (USD 835 mn) are pledges for new investment funds that aim to boost early-stage startups in the local market and regionally, while the rest (USD 53.4 mn) was raised by six tech-powered startups.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That brings to north of USD 13 bn the total value of investments <\/strong>in tech announced during the high-profile gathering. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have the rundown at the head of this morning\u2019s news well as well as in our report of yesterday. We\u2019ll have ongoing coverage tomorrow and Sunday (Leap and Deepfest end tomorrow), but we expect we\u2019ve now seen the majority of the \u201cbig\u201d announcements. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The lineup today at Leap<\/strong> includes industry leaders and top global execs, among them:<\/p>\n<ul>\n<li><strong>Aramco <\/strong>vice president and chief digital officer Nayef Al-Otaibi;<\/li>\n<li><strong>Aramco Digital<\/strong> CEO Tareq Amin;<\/li>\n<li><strong>Google X<\/strong>\u2019s former chief business officer turned motivational speaker Mo Gawdat;<\/li>\n<li><strong>McKinsey Digital <\/strong>senior partner Johannes-Tobias Lorenz;<\/li>\n<li><strong>Microsoft Arabia<\/strong> president Turki Badhris;<\/li>\n<li><strong>PWC Ventures <\/strong>scale lead Patricia Keating;<\/li>\n<li><strong>Huawei <\/strong>managing director Alan Qi;<\/li>\n<li><strong>KBW Group<\/strong> founder Khaled Bin Alwaleed bin Talal Al Saud;<\/li>\n<li><strong>PepsiCo<\/strong> sustainability lead for Saudi Arabia Tala Alem.<\/li>\n<\/ul>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>IPO WATCH #1- Retail investors have until the close of business today to put in <\/strong><strong>orders for <\/strong><strong>shares in <\/strong><strong>Modern Mills\u2019 IPO. <\/strong>The subscription period for 2.5 mn shares (or 10% of the offering) <strong><a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1710114\" style=\"\" rel=\"noopener\">ends today<\/a><\/strong>. Modern Mills has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3b32e4ca-0d4c-45e1-aca2-11988dc2559c\" style=\"\" rel=\"noopener\">priced its IPO shares at SAR 48<\/a> each, generating an order book of SAR 150 bn from institutional investors and valuing the company at SAR 3.9 bn. The milling company is taking 24.5 mn shares to market \u2014 good for a 30% stake \u2014 in a SAR 1.2 bn secondary sale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>IPO WATCH #2- The book-building process for the Nomu IPO of scrap metal <\/strong><strong>recycler Taqat Mineral kicks off <\/strong><strong>today <\/strong>for qualified investors and wraps up on Wednesday, 13 March, Taqat\u2019s financial advisor, Miyar Capital, said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83Z29TAwC_Rx9DSxdLY0MDAz1w_Wj9KOQlRgEB5gaBLoF-Br7GAQZuBuYQRUY4ACOBvoF2dmBAERHA9g!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFSklLSUtVUW9ncFJJa0EhIS9ZUFVFQUFBSUlFTUVDS0lFQUdJR09JT0lCSkZKRkJKTkROREJORUxMSEhQSFBMSEFnb2dvckFzQ0FBISEvNEpDaWpLMWJHTGppRUVwTWhUVlVrNUNpbXBwektETmJ0WmJPYW5tdDJzdGd0U0txb3lRIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9lbi9jb21wYW55U3ltYm9sLzExNjQvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4NTQ4\/\" style=\"\" rel=\"noopener\">regulatory filing<\/a> yesterday. The IPO on the parallel market was priced at SAR 18 apiece. Taqat received the nod from the Capital Market Authority in December to list 20% of its shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>AND- Speaking of IPOs: Seera\u2019s Almosafer plans to go public within the next two <\/strong><strong>to three years<\/strong>, CEO Muzzammil Ahussain told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/bdf2t83b\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- The offering of <\/strong><strong>Al Rajhi Bank\u2019s sustainable <\/strong><strong>five-year USD-denominated <\/strong><strong>sukuk wraps up <\/strong><strong>today<\/strong><strong> for both domestic and international investors<\/strong>, the bank 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_xQVbWlAQ3WFUjI-IEgPOxgw6jiQwQ3CU-PeOutL46q7tubc3BQIJEEHPGacqk4Lmul8Td-P4LtojD-fB0B7gYtjpLfqDwMJJC-JnAKPQ0UA4a05xiQG6QP7R44fy8beefEWC9ivwJuId-JJhDITnMn38wxdp0-NAKrZnFavMU6XHB6XKY9dAA-u6NrmUPGfmVhYGvpMc5FFB8kzeuJvL3UTRHa1PuVYTvSqpuESXIpX6kGXZCBETUBarBLOwiD3lpC2_cQUaPzP5\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODU0NC9jb21wYW55U3ltYm9sLzExMjAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a filing to Tadawul<\/a>. This is part of the lender\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b7b7806d-d47b-460c-a8f8-8796bae0e268\" style=\"\" rel=\"noopener\">USD 4 bn Trust Certificate Issuance Programme<\/a>. The minimum subscription value is set at USD 200k and in increments of USD 1k in excess. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Expect a cloudy day in Riyadh and Dammam <\/strong>with some sun in Jeddah.<\/p>\n<ul>\n<li><strong>Riyadh:<\/strong> 25\u00b0C daytime \/ 13\u00b0C overnight<\/li>\n<li><strong>Jeddah:<\/strong> 29\u00b0C daytime \/ 22\u00b0C overnight<\/li>\n<li><strong>Dammam:<\/strong> 25\u00b0C daytime \/ 16\u00b0C overnight<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT- <\/strong><strong>The Human Resources Development Fund invested SAR 8.7 bn last year <\/strong>in training programs for 1.9 mn citizens, benefiting 120k establishments, and contributing to the recruitment of 374k Saudis, it said in <a target=\"_blank\" href=\"https:\/\/www.hrdf.org.sa\/NewsDetails?NewsId=4e19f8fd11d443csw49q4qv3c5\" style=\"\" rel=\"noopener\">a statement<\/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\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Aramco, Shell shortlisted for acquisition of Temasek\u2019s Pavilion Energy <\/strong><strong>LNG assets:<\/strong>Oil giant Aramco and Shell have been shortlisted among other companies by Singapore\u2019s Temasek Holdings for the sale of its LNG trading firm subsidiary Pavilion Energy\u2019s assets, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/singapores-temasek-shortlists-saudi-aramco-shell-sale-pavilion-energy-assets-2024-03-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported yesterday, citing sources it says are close to the matter. Singapore\u2019s state-owned investment firm, Temasek is currently reviewing bids for the assets, excluding its gas pipeline business, one of the sources said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All under one big ambitious plan by Aramco: <\/strong>An acquisition of Pavilion Energy\u2019s LNG assets would help Aramco spur its LNG business, one of the sources said. \"Aramco is late to the LNG party, but they have the money to catch up,\u201d the source said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#2- Our friends at EFG Hermes are building a USD 300 mn fund directed to <\/strong><strong>educational investments in the Gulf with a focus on Saudi<\/strong>, Karim Moussa, the co-CEO of its investment bank, said in an interview with Asharq Business (<a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/61198\/efg-%D8%AA%D8%A4%D8%B3%D8%B3-%D8%B5%D9%86%D8%AF%D9%88%D9%82%D8%A7%D9%8B-%D8%A8%D9%80300-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%A8%D8%A7%D9%84%D8%AA%D8%B9%D9%84%D9%8A%D9%85-%D9%81%D9%8A-%D8%A7%D9%84%D8%AE%D9%84%D9%8A%D8%AC\/\" style=\"\" rel=\"noopener\">watch, runtime: 6:36<\/a>). \u201cThe Saudi market is big \u2026 the second-largest educational in the region with 6.5 mn students where 85% of them go to public schools and the remainder are in private schools,\u201d he said. Only 10% of the private education market is controlled by four top educational players in the Kingdom, paving the way for further investments in the sector. <\/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>#3- Don\u2019t get your hopes up for a lower value-added tax, Finance Minister Mohammed Al <\/strong><strong>Jadaan <\/strong>said yesterday in an interview with popular local podcast Socrates (<a target=\"_blank\" href=\"https:\/\/thmanyah.com\/post\/1jyc3rhw5z_1jhggnmybp\" style=\"\" rel=\"noopener\">listen, runtime: 2:50:00<\/a>). <strong>There are no plans to cut the tax <\/strong>from its current 15% level, the minister said, adding that the VAT came into effect partially to fund the Citizens Account, a cash handout program for vulnerable citizens to help offset the impact of economic reforms, including the phaseout of subsidies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT- The government is reconsidering monthly fees for the dependents of expats<\/strong>, Al Jadaan added. He said the decision was made based on studies recommending the levy on grounds that expats were benefiting from oil, electricity, and water subsidies, among others. \u201cThe government is currently reviewing monthly fees the dependents of expats, especially that we\u2019re now looking to lure in talent,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>The dependent fee was initially set at SAR 100 per person in 2017 before increasing gradually to reach SAR 400 since 2020. The fees came as officials pushed to create more jobs for Saudis as part of the Kingdom\u2019s diversification away from oil. Some in the business community contest the fees, saying the are driving up the cost of employing staff. businesses on grounds that they drive operating expenses up. Some reports have suggested the fees <a target=\"_blank\" href=\"https:\/\/saudigazette.com.sa\/article\/616000\" style=\"\" rel=\"noopener\">were a factor<\/a> in a 10% contraction of the Kingdom\u2019s foreign workforce between the start of 2018 and 3Q 2021. <\/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>#4- The Tourism Ministry is looking to attract up to USD 80 bn in private investments<\/strong> to push the Kingdom\u2019s growing tourism sector further, Tourism Minister Ahmed Al Khateeb told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-05\/saudi-seeks-80-billion-in-investments-in-push-for-more-tourists\" style=\"\" rel=\"noopener\">Bloomberg<\/a> in an interview yesterday. \u201cI want the private sector to represent the majority of investment,\u201d Al Khateeb said. It is seeking to raise USD 60 bn to USD 80 bn in private sector investments by 2030. \u201cThis is a very ambitious target,\u201d he said. His statements came as the ministry launched a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/e31e9ca9-0879-4c06-85c3-6d393fc40f70\/day-1-reports-from-leap-%2B-efg-hermes-one-on-one\" style=\"\" rel=\"noopener\">new tourism investment program<\/a> aimed at facilitating doing business and attracting local and foreign investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> The ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4d43f6ce-8ecc-41b8-8135-0da085f9952c\" style=\"\" rel=\"noopener\">recently doubled<\/a> its target for 2030, hoping now to be host to 150 mn tourist trips after it hit its target last year ahead of schedule. The new 2030 target sees 80 mn by domestic travelers and 70 mn by international travelers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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>#5- US design, marketing, video, and audio software giant <\/strong><strong>Adobe<\/strong><strong> is gearing up to launch <\/strong><strong>its new regional headquarters in Riyadh<\/strong>, set to open by early 2025, after it received approval from the Investment Ministry, it said in <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/adobe-announces-plans-for-new-regional-headquarters-in-riyadh-hmykntrc\" style=\"\" rel=\"noopener\">a press release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>HAPPENING TOMORROW-<\/strong>Jeddah will host the <a target=\"_blank\" href=\"https:\/\/www.bloombergmedia.com\/press\/bloomberg-media-and-srmg-announce-inaugural-bloomberg-power-players-summit-in-jeddah-saudi-arabia\/#:~:text=The%20Summit%20will%20take%20place,disruption%20and%20multibillion%20dollar%20investments.\" style=\"\" rel=\"noopener\">Bloomberg Power Players Summit<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.formula1.com\/en\/racing\/2024\/Saudi_Arabia.html\" style=\"\" rel=\"noopener\">2024 Saudi Arabian Grand Prix<\/a> tomorrow. <\/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>Market sentiment is improving in the outlook for oil and gas prices<\/strong> against the backdrop of a decline in US shale share drilling and an extended OPEC+ voluntary oil output cut until the end of 1H 2024, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/oil-prices-rise-funds-scale-back-bearish-positions-kemp-2024-03-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Hedge funds are closing out short positions and buying oil as they eye potential price appreciation. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SPORTS <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>We\u2019re getting a cutting-edge F1 track in Qiddiya:<\/strong> Qiddiya Investment Company (QIC) unveiled a new F1 circuit as the Kingdom aims to position itself as one of the world\u2019s top motorsport venues, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/ar\/w2059111\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. The configurable Speed Park Track includes 21 corners with an elevation gain of 108 meters. It was designed by ex-F1 driver Alex Wurz and German circuit designer Hermann Tilke. The track will be host to major events including the Formula 1 Grand Prix and MotoGP races.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#7- A home run<\/strong><strong>?<\/strong> Baseball United \u2014 the Middle East and South Asia\u2019s first professional baseball league \u2014 inked an agreement with the Saudi Baseball and Softball Federation (SBSF) to host its league and tournament here, <a target=\"_blank\" href=\"https:\/\/www.devdiscourse.com\/article\/sports-games\/2850064-exclusive-baseball-united-to-bring-professional-baseball-to-saudi-arabia\" style=\"\" rel=\"noopener\">Reuters<\/a> reported yesterday, citing a source in the know. The partnership will see Baseball United setting up a subsidiary in Saudi to help develop the sports. It will also support the formation of a national team to compete in the next World Baseball Softball Confederation Tournaments. The partnership is set to be announced this week.<\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s \u201cSuper Tuesday\u201d in the United States<\/strong>, and Republican frontrunner Donald Trump has so far taken 10 of the 15 states holding Republican primaries overnight. Challenger Nikki Haley, the former South Carolina governor and Trump\u2019s ambassador to the UN, took only the District of Columbia and the primary in Vermont remains too close to call. The Donald will still need to pick up delegates in primaries later this month to hit the 1,215 figure that will ensure him the nomination at the party\u2019s convention in July. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart- <\/strong>Biden is also racking up primary victories this morning. If each takes his party\u2019s nomination this summer, it will be the first time since 1956 that two candidates have faced each other in an election rematch. (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/03\/05\/us\/super-tuesday-election-updates\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/super-tuesday-primary-election-2024\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/trump-seeks-knockout-super-tuesday-states-choose-nominees-2024-03-05\/\" 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>China <\/strong><strong>eyes 5% growth in 2024:<\/strong> The Chinese government is targeting an GDP growth of around 5% in 2024 despite persistent property crisis and rising debts, where even the Chinese Premier Li Qiang acknowledged that it is going to be challenging to achieve. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/china-targets-2024-gdp-growth-around-5-government-work-report-2024-03-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> <br \/> <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-05\/china-s-gdp-growth-target-this-year-set-around-5-reuters-says\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/china-economy-congress-qiang-jinping-1fc37c644ca06a4ab1133b26c5a7b146\" style=\"\" rel=\"noopener\">The Associated Press<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The world\u2019s second-largest economy saw its GDP expand 5.2% last year \u2014 matching its official c. 5% target for the year \u2014 though the IMF forecast China\u2019s growth to slow down to 4.6% in 2024 and to further reach 3.5% by 2028.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/deepfest\/\">Deepfest<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/efg-hermes\/\">EFG Hermes<\/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\/leap\/\">LEAP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tourism-ministry\/\">Tourism Ministry<\/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=\"84085\" 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=\"84085\">\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\">TECHNOLOGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/tech-investment-pledges-now-top-usd-13-bn-after-day-two-of-leap-2024\/\">\r\n                            Tech investment pledges now top USD 13 bn after day two of Leap 2024                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/tech-investment-pledges-now-top-usd-13-bn-after-day-two-of-leap-2024\/\" 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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Day one saw Amazon and DataVolt lead the way as investors promised nearly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/72e23e4f-4eab-455f-9a17-23a22cad6710\" style=\"\" rel=\"noopener\">USD 12<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/72e23e4f-4eab-455f-9a17-23a22cad6710\" style=\"\" rel=\"noopener\">bn worth of investment<\/a>. Yesterday saw companies unveil some <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mcitgovsa_ksa-leap24-activity-7170740459504394240-9kqF?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">USD 835 mn<\/a> to launch seven new investment funds while six startups said they have raised a combined <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mcitgovsa_leap24-activity-7170732690697080832-gmoa\/?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">USD 53 mn<\/a> in funding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Here\u2019s everything you need to know <\/strong>about day two:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Bahrain\u2019s <\/strong><strong>Investcorp<\/strong><strong> and <\/strong><strong>SVC<\/strong><strong> are setting up a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mcitgovsa_leap24-activity-7170817332053794819-dctY?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">USD 500 mn<\/a><\/strong><strong> fund to back local firms in <\/strong><strong>their <\/strong><strong>various growth stages<\/strong>, SVC is contributing USD 35 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Bahrain\u2019s <\/strong><strong>Oasis Capital<\/strong><strong> is establishing a new <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mcitgovsa_leap24-activity-7170815370142953474-AiSh?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">USD 100 mn<\/a><\/strong><strong> fund to support early-stage <\/strong><strong>business owners <\/strong>in the Middle East. \u201cFund II\u201d is Oasis\u2019s second investment fund in the Kingdom. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/takamolventures.com.sa\/en\" style=\"\" rel=\"noopener\">Takamol Ventures<\/a><\/strong><strong> is launching a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mcitgovsa_leap2024-activity-7170811540751667200-0D1-?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">USD 50 mn<\/a><\/strong><strong> investment arm to take positions in <\/strong><strong>early-stage <\/strong><strong>tech startups <\/strong>in the Middle East and Africa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- US-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.plugandplaytechcenter.com\/?utm_source=google&utm_medium=ppc&utm_campaign=mkg-google-ppc-corp-global-financial-bundle&utm_adgroup=&utm_id=20050296203&gad_source=1&gclid=CjwKCAiAopuvBhBCEiwAm8jaMWofzkUSHHt8lnEViohd5baBo4r4GJDOTQfpA-1SD-Ywotc1bZiWjRoCcykQAvD_BwE\" style=\"\" rel=\"noopener\">Plug and Play<\/a><\/strong><strong> is setting up a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mcitgovsa_leap24-activity-7170819068155932673-ZRGn?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">USD 50 mn<\/a><\/strong><strong> fund to invest in the region\u2019s <\/strong><strong>tech-driven <\/strong><strong>startups.<\/strong> The US-headquartered VC\u2019s fund will similarly cater to players across the entire MENA region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Local accelerator <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.unifonicx.com\/\" style=\"\" rel=\"noopener\">X by Unifonic<\/a><\/strong><strong> is launching a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mcitgovsa_aesaeyaeq24-activity-7170817940202721280-FNuF?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">USD 15 mn<\/a><\/strong><strong> fund <\/strong>with appetite for software-as-a-service startups in MENA.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/merak.capital\/\" style=\"\" rel=\"noopener\">Merak Capital<\/a><\/strong><strong> is set to operate a USD 80 mn gaming and esports accelerator and <\/strong><strong>investment fund <\/strong>with contributions from Ignite, Saudi Esports, Social Development Bank and the National Development Fund.<strong> Meanwhile, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/impact46.sa\/\" style=\"\" rel=\"noopener\">Impact 46<\/a><\/strong><strong> will be managing yet another USD 40 mn esports fund<\/strong> with participation from all the same players \u2014 excluding Merak. <\/p>\n<p class=\"tag-border-left\"> STARTUP FUNDING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Fintech <\/strong><strong><a target=\"_blank\" href=\"https:\/\/moyasar.com\/\" style=\"\" rel=\"noopener\">Moyasar<\/a><\/strong><strong> raised <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mcitgovsa_leap24-activity-7170775104103133184-hqZn?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">USD 21 mn<\/a><\/strong> in seed funding from <a target=\"_blank\" href=\"https:\/\/jahezgroup.com\/\" style=\"\" rel=\"noopener\">online food delivery platform<\/a><a target=\"_blank\" href=\"https:\/\/jahezgroup.com\/\" style=\"\" rel=\"noopener\">Jahez Group<\/a> to further expand its operations in MENA and grow its product offering. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Homegrown BNPL <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.buildnow.sa\/\" style=\"\" rel=\"noopener\">BuildNow<\/a><\/strong><strong> secured <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mcitgovsa_leap24-activity-7170787514696347648-VqXg?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">USD 9.4 mn<\/a><\/strong> in seed funding to support the supply chains of SMEs in the construction, manufacturing and trading industries. The round was co-led by <a target=\"_blank\" href=\"https:\/\/raed.vc\/\" style=\"\" rel=\"noopener\">Raed Ventures<\/a> and <a target=\"_blank\" href=\"https:\/\/www.khwarizmivc.com\/\" style=\"\" rel=\"noopener\">Khwarizmi Ventures<\/a> with participation from international VCs and local angel investor Abdullah Elyas. (<a target=\"_blank\" href=\"https:\/\/www.buildnow.sa\/press-release\/menas-first-build-now-pay-later-solution-secures-dollar94m-in-seed-funding\" style=\"\" rel=\"noopener\">Buildnow statement<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Local procurement company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/brkz.com\/en\" style=\"\" rel=\"noopener\">BRKZ<\/a><\/strong><strong> lined up <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mcitgovsa_leap24-activity-7170758470101626881-nhJS?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">USD 8 mn<\/a><\/strong>in series A funding to boost its tech services in the construction sector. The round saw contributions from <a target=\"_blank\" href=\"https:\/\/www.waed.net\/\" style=\"\" rel=\"noopener\">Wa\u2019ed Ventures<\/a>, <a target=\"_blank\" href=\"https:\/\/becocapital.com\/\" style=\"\" rel=\"noopener\">Beco Capital<\/a>, and London-based VC <a target=\"_blank\" href=\"https:\/\/9900capital.com\/\" style=\"\" rel=\"noopener\">9900<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- B2B marketplace <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.lawazm.com\/\" style=\"\" rel=\"noopener\">Lawazem<\/a><\/strong><strong> bagged some <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mcitgovsa_leap24-activity-7170781059813363712-iHFU?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">USD 8 mn<\/a><\/strong><strong> from <\/strong><strong><a target=\"_blank\" href=\"https:\/\/merak.capital\/\" style=\"\" rel=\"noopener\">Merak Capital<\/a><\/strong><strong> in a <\/strong><strong>pre-series A round<\/strong>. Proceeds are earmarked to finance the local and regional expansion of its operations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- US-based cross-border team onboarding service <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.remotepass.com\/\" style=\"\" rel=\"noopener\">RemotePass<\/a><\/strong><strong> closed a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mcitgovsa_aesaeyaeq24-activity-7170795499552235520-Bb-S?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">USD 5.5 mn<\/a><\/strong><strong>series A funding round<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/remotepass_remotepass-seriesafunding-startups-activity-7170709959217737728-Ro7y?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement<\/a>. The round saw participation from <a target=\"_blank\" href=\"https:\/\/endeavor.org\/\" style=\"\" rel=\"noopener\">Endeavor<\/a>, <a target=\"_blank\" href=\"https:\/\/www.khwarizmivc.com\/\" style=\"\" rel=\"noopener\">Khwarizmi Ventures<\/a>, <a target=\"_blank\" href=\"https:\/\/oraseyacapital.com\/\" style=\"\" rel=\"noopener\">Oraseya Capital<\/a>, <a target=\"_blank\" href=\"https:\/\/www.flyerone.vc\/\" style=\"\" rel=\"noopener\">Flyer One Ventures<\/a>, <a target=\"_blank\" href=\"https:\/\/access-bridge.com\/\" style=\"\" rel=\"noopener\">Access Bridge Ventures<\/a>, <a target=\"_blank\" href=\"https:\/\/www.a15.com\/\" style=\"\" rel=\"noopener\">A15<\/a>, and <a target=\"_blank\" href=\"https:\/\/sff.vc\/\" style=\"\" rel=\"noopener\">Swiss Founders Fund<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- Riyadh-based football live coverage application <\/strong><strong><a target=\"_blank\" href=\"https:\/\/fanzapp.io\/\" style=\"\" rel=\"noopener\">fanZ<\/a><\/strong><strong> raised USD 1.5 mn<\/strong> in pre-seed fundingto enhance its sports and fintech application, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mcitgovsa_leap24-activity-7170769921948250112-Vc8x?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement<\/a>. The round was co-led by <a target=\"_blank\" href=\"https:\/\/500.co\/\" style=\"\" rel=\"noopener\">500 Global<\/a> and <a target=\"_blank\" href=\"https:\/\/2a.ventures\/\" style=\"\" rel=\"noopener\">2A Ventures<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- The Kingdom and the UK signed a MoU to collaborate on tech R&D<\/strong> and boost research ties, according to a <a target=\"_blank\" href=\"https:\/\/www.gov.uk\/government\/news\/uk-and-saudi-arabia-unveil-joint-plan-to-put-research-links-into-top-gear\" style=\"\" rel=\"noopener\">statement by the UK Science, Innovation and Technology Ministry<\/a>. They will work together to provide \u201cdeep science and tech breakthroughs\u201d for food security, and clean energy, according to the statement.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/deepfest\/\">Deepfest<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/leap-2024\/\">LEAP 2024<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/technology\/\">Technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/venture-capital\/\">venture capital<\/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=\"84087\" 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=\"84087\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/non-oil-business-activity-rallies-in-february\/\">\r\n                            Non-oil business activity rallies in February                        <\/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\/03\/06\/non-oil-business-activity-rallies-in-february\/\" 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\/03\/06\/non-oil-business-activity-rallies-in-february\/')\">\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\/03\/06\/non-oil-business-activity-rallies-in-february\/\">\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=Non-oil business activity rallies in February&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/non-oil-business-activity-rallies-in-february\/\">\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\/03\/06\/non-oil-business-activity-rallies-in-february\/&title=Non-oil business activity rallies in February\">\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=Non-oil+business+activity+rallies+in+February+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F06%2Fnon-oil-business-activity-rallies-in-february%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\/03\/06\/non-oil-business-activity-rallies-in-february\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84087\" class=\"content-area-description single-story post-84087 post type-post status-publish format-standard hentry category-economy tag-economy tag-enterpriseam-ksa tag-non-oil-economy tag-purchasing-managers-index-pmi 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\/3\/.c04e02ae-391d-4faf-bdb8-30fe0368bb36.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Non-oil business <\/strong><strong>activity regained<\/strong><strong> momentum in February 2024, recovering<\/strong><strong>from January\u2019s slump<\/strong>, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/373.pdf\" style=\"\" rel=\"noopener\">Riyad Bank Saudi Arabia PMI (pdf)<\/a> out yesterday. Headline PMI hit 57.2 last month on stronger demand, up from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4f59dc30-c06b-4edb-8262-e846f0615193\" style=\"\" rel=\"noopener\">55.4 in the previous month<\/a> which marked its lowest reading in two years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Output increased at the fastest pace in five months: <\/strong>Output came in at <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/saudi-arabias-non-oil-business-activity-rebounds-feb-pmi-survey-shows-2024-03-05\/\" style=\"\" rel=\"noopener\">61.5<\/a> in February, up from <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/saudi-arabias-non-oil-business-activity-slows-2-year-low-jan-pmi-2024-02-05\/\" style=\"\" rel=\"noopener\">58.1<\/a> in the previous month fueled by heightened demand, a vibrant tourism sector and a resilient construction sector, the report reads. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Exports orders drove an uptick in new orders to <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/saudi-arabias-non-oil-business-activity-rebounds-feb-pmi-survey-shows-2024-03-05\/\" style=\"\" rel=\"noopener\">62.2<\/a> in February, up from 60.5 in the previous month, signaling resilient \u201cdemand for domestic products from international markets and high competitiveness in local industries,\u201d according to Riyad Bank Chief Economist Naif Al-Ghaith. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Purchasing activity remained strong as local firms ensured a steady inflow of inputs<\/strong> to secure lower prices from suppliers given the outlook on demand. This resulted in the sharpest increase in inventory levels since August 2022. Firms also witnessed an improvement in delivery times <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Employment <\/strong><strong>levels grew at one of their fastest rates in eight years<\/strong>, suggesting a higher demand for labor in a growing non-oil economy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Easing inflationary pressures:<\/strong> Purchasing prices increased at their slowest rate in five months in february, and staff wages at their slowest in six months. Higher market competitiveness put a lid on selling prices in the same months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AROUND THE REGION<\/p>\n<ul>\n<li><strong>The UAE\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/360.pdf\" style=\"\" rel=\"noopener\">PMI (pdf)<\/a><\/strong><strong> expanded <\/strong>to 57.1 in February, up from 56.6 in the previous month. This marks its fastest growth pace in five years on the back of rising demand. <\/li>\n<li><strong>Egypt\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/353.pdf\" style=\"\" rel=\"noopener\">PMI (pdf)<\/a><\/strong><strong> fell <\/strong>to 47.1 in February down from 48.1 in January, logging an 11-month low as inflation pressures and Suez Canal disruptions dampened demand and caused supply-side challenges. <\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/non-oil-economy\/\">Non-oil economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/purchasing-managers-index-pmi\/\">Purchasing Manager\u2019s Index (PMI)<\/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=\"84088\" 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=\"84088\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/imf-executive-director-mahmoud-mohieldin-on-the-regional-and-global-outlook-for-2024\/\">\r\n                            IMF Executive Director Mahmoud Mohieldin on the regional and global outlook for 2024                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/imf-executive-director-mahmoud-mohieldin-on-the-regional-and-global-outlook-for-2024\/\" 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\/03\/06\/imf-executive-director-mahmoud-mohieldin-on-the-regional-and-global-outlook-for-2024\/')\">\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\/03\/06\/imf-executive-director-mahmoud-mohieldin-on-the-regional-and-global-outlook-for-2024\/\">\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=IMF Executive Director Mahmoud Mohieldin on the regional and global outlook for 2024&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/imf-executive-director-mahmoud-mohieldin-on-the-regional-and-global-outlook-for-2024\/\">\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\/03\/06\/imf-executive-director-mahmoud-mohieldin-on-the-regional-and-global-outlook-for-2024\/&title=IMF Executive Director Mahmoud Mohieldin on the regional and global outlook for 2024\">\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=IMF+Executive+Director+Mahmoud+Mohieldin+on+the+regional+and+global+outlook+for+2024+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F06%2Fimf-executive-director-mahmoud-mohieldin-on-the-regional-and-global-outlook-for-2024%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\/03\/06\/imf-executive-director-mahmoud-mohieldin-on-the-regional-and-global-outlook-for-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/243.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84089\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/imf-executive-director-mahmoud-mohieldin-on-the-regional-and-global-outlook-for-2024\/243-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/243.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"243.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/243.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/243.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84088\" class=\"content-area-description single-story post-84088 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-debt tag-economy tag-efg-hermes tag-enterpriseam-ksa tag-inflation tag-mahmoud-mohieldin 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\/3\/.ec925568-9a40-44db-a1ef-965704a35465.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>IMF Executive Director Mahmoud Mohieldin took to the stage at the <\/strong><strong>EFG Hermes One on One conference<\/strong> in Dubai to offer his outlook on the global and regional economies for the next couple of years. The conference, which welcomed this year some 670 investors and 250 global institutions, runs thought tomorrow. Executives from some 215 companies in 29 countries are in Dubai to meet face-to-face with global investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe center of economic gravity is shifting towards the East,\u201d<\/strong> Mohieldin, who is also the UN Special Envoy on Financing the 2030 Agenda for Sustainable Development, told attendees, pointing to countries including China, India, Vietnam and the Philippines. It\u2019s up to emerging markets and countries in the Middle East \u2014 which are strategically located to benefit from that shift \u2014 to make the most of that transition, he added. Regional cooperation is important in the increasingly fragmented global economy that we currently live in, he said, adding that \u201cbetter trade relations and FDI in the region\u201d will allow these markets to grow without constraints. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Navigating a restricted and fragmented trade environment is the uphill battle emerging <\/strong><strong>markets will have to reckon with over the next couple of years<\/strong>, Mohieldin said. \u201cIt\u2019s a sad fact that last year, 3k trade restrictions is 3x more than what we had in 2019,\u201d he said. \u201cAll emerging markets are dependent on a globalized economy with trade flows, FDI and knowledge sharing \u2014 that is not the case anymore,\u201d he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expanding the non-oil sector is paramount for GCC countries:<\/strong> \u201cThere have been good attempts at diversification, and the name of the game is how to diversify better,\u201d Mohieldin said. \u201cSome have the ability to do that and have diversified into services and high tech and investments at home and abroad, [and] some have great ambitious infrastructure plans, like Saudi Arabia, and are benefiting from a well educated caliber of the young population,\u201d he explained, referencing the UAE. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And EMs need to keep debt in check, but \u201cwe\u2019re not going to see a global debt crisis<\/strong> like the 1970s, \u201880s and \u201890s. The kind of debt today and the limited exposure of financial institutions won't make it a global crisis,\u201d he said. \u201c[But] we\u2019ll see a development crisis; we\u2019ll see scattered fires in different places,\u201d Mohieldin added. \u201cMany countries today in Africa and South Asia are paying on their debt service more than what they pay on education and health,\u201d he noted, adding that the high cost of borrowing \u2014 along with muted FDI flows and inadequate domestic savings \u2014 are hampering investments and growth in emerging markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2026which involves setting up a common resolution mechanism:<\/strong> \u201cIf you\u2019re in debt trouble and you\u2019re in an economy without significant spillovers to the rest of the world, you\u2019re on your own with very little support from the global financial system,\u201d Mohieldin said, adding that many countries in Africa and South Asia are paying more on debt service than on essential services like education and healthcare. \u201cThe world right now doesn\u2019t have a good resolution mechanism; it\u2019s too slow and doesn\u2019t work,\u201d he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Things could take a turn when interest rates go down: <\/strong>Anticipated rate cuts from the US Federal Reserve will be \u201cgood news\u201d for capital flows and potential penetration in emerging markets\u2019 capital markets, Mohieldin said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But more needs to be done: <\/strong>\u201cWe need to learn from past mistakes [and] avoid excessive borrowing,\u201d he said, adding that we need more equity-based financing. We also need to develop an encouraging business environment, and ensure good coordination between fiscal and monetary policy, while also capturing the potential of the green transition and big data and AI, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And we must be mindful of the impacts of laws in the US and the EU on our part of the <\/strong><strong>world<\/strong>, he added, referencing the US\u2019 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3907e1bd-299f-46ad-8f42-7d0fead9dcc7\" style=\"\" rel=\"noopener\">Inflation Reduction Act<\/a> \u2014 which involves providing subsidies in the form of tax credits to renewable energy projects \u2014 and the EU\u2019s carbon border adjustment mechanism (CBAM), which taxes imports of certain raw materials in a bid to reduce greenhouse gas emissions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GCC economies will want to keep a eye on how well their peg to the USD suits them <\/strong>as they transition away from oil-based economies \u2014 and countries such as Egypt will do well to not make FX policy the center of their economic policies. Instead, Mohieldin said, Egypt needs to move to an inflation-targeting policy regime that uses multiple tools to bring inflation to manageable levels. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re not on track to achieve any of the sustainable development goals<\/strong> (SDGs) \u2014 of the 17 goals, we\u2019re only on track to achieve 15%, and we\u2019re deviating either slightly or significantly on 50% of the goals, Mohieldin said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/inflation\/\">Inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mahmoud-mohieldin\/\">Mahmoud Mohieldin<\/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=\"84090\" 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=\"84090\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/uae-based-gulf-islamic-investment-acquires-saudi-asset-management-firm\/\">\r\n                            UAE-based Gulf Islamic Investment acquires Saudi asset management firm                        <\/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\/03\/06\/uae-based-gulf-islamic-investment-acquires-saudi-asset-management-firm\/\" 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\/03\/06\/uae-based-gulf-islamic-investment-acquires-saudi-asset-management-firm\/')\">\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\/03\/06\/uae-based-gulf-islamic-investment-acquires-saudi-asset-management-firm\/\">\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=UAE-based Gulf Islamic Investment acquires Saudi asset management firm&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/uae-based-gulf-islamic-investment-acquires-saudi-asset-management-firm\/\">\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\/03\/06\/uae-based-gulf-islamic-investment-acquires-saudi-asset-management-firm\/&title=UAE-based Gulf Islamic Investment acquires Saudi asset management firm\">\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=UAE-based+Gulf+Islamic+Investment+acquires+Saudi+asset+management+firm+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F06%2Fuae-based-gulf-islamic-investment-acquires-saudi-asset-management-firm%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\/03\/06\/uae-based-gulf-islamic-investment-acquires-saudi-asset-management-firm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/401.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84091\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/uae-based-gulf-islamic-investment-acquires-saudi-asset-management-firm\/401-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/401.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"401.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/401.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/401.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84090\" class=\"content-area-description single-story post-84090 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam-ksa tag-gulf-islamic-investments tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.b4d3fd32-d74b-4aee-a0e1-c508615d90bf.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE\u2019s Gulf Islamic Investments grabs Saudi asset manager: <\/strong>UAE\u2019s <a target=\"_blank\" href=\"https:\/\/gii.ae\/our-story\/\" style=\"\" rel=\"noopener\">Gulf Islamic<\/a><a target=\"_blank\" href=\"https:\/\/gii.ae\/our-story\/\" style=\"\" rel=\"noopener\">Investments (GII)<\/a> has acquired an a licensed investment and asset management firm in Saudi as it looks to expand its presence here, it said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7170769932295651328\/\" style=\"\" rel=\"noopener\">post on Linkedin<\/a> yesterday. No further details were provided on the target company or the stake that the GII has acquired.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale<\/strong>: The acquisition paves the way for the GII to expand its services here to include corporate finance advisory, investment fund management and private equity, according to the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the GII\u2019s first venture here: <\/strong>Its existing investments here include a SAR 600 mn <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/gulf-islamic-investments-acquires-a-significant-stake-in-saudi-arabias-abeer-medical-company-ir98r2tk\" style=\"\" rel=\"noopener\">\u201csignificant\u201d stake<\/a> in leading local healthcare provider Abdeel Medical Company (Abeer) earlier this year. It also <a target=\"_blank\" href=\"https:\/\/gii.ae\/gulf-islamic-investments-strengthens\/\" style=\"\" rel=\"noopener\">grabbed a majority stake<\/a> in the Kingdom\u2019s biggest dental and dermatology clinics Al Meswak Dental Clinics in 2022 from privately-owned investment bank Jadwa Investment in a transaction valued at USD 600 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More to come: <\/strong>GII is in the process of finalizing acquisitions in the local food processing sector, it said in a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/gulf-islamic-investments-acquires-a-licensed-investment-and-asset-management-firm-in-the-kingdom-of-saudi-arabia-cgyvyvky\" style=\"\" rel=\"noopener\">statement picked up by Zawya<\/a> yesterday. No further details were disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About GII:<\/strong> Itis a licensed Shariah compliant global investment firm with <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/gulf-islamic-investments-acquires-a-licensed-investment-and-asset-management-firm-in-the-kingdom-of-saudi-arabia-cgyvyvky\" style=\"\" rel=\"noopener\">over USD 4.5 bn of<\/a><a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/gulf-islamic-investments-acquires-a-licensed-investment-and-asset-management-firm-in-the-kingdom-of-saudi-arabia-cgyvyvky\" style=\"\" rel=\"noopener\">assets under management<\/a>. It pours capital in real estate, venture capital and private equity among others.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gulf-islamic-investments\/\">Gulf Islamic Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84092\" 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=\"84092\">\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\">CABINET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/a-new-program-to-develop-legal-departments-in-government-agencies\/\">\r\n                            Cabinet approves new program to develop legal departments at government agencies                        <\/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\/03\/06\/a-new-program-to-develop-legal-departments-in-government-agencies\/\" 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\/03\/06\/a-new-program-to-develop-legal-departments-in-government-agencies\/')\">\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\/03\/06\/a-new-program-to-develop-legal-departments-in-government-agencies\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=A new program to develop legal departments in government agencies&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/a-new-program-to-develop-legal-departments-in-government-agencies\/\">\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\/03\/06\/a-new-program-to-develop-legal-departments-in-government-agencies\/&title=A new program to develop legal departments in government agencies\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=A+new+program+to+develop+legal+departments+in+government+agencies+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F06%2Fa-new-program-to-develop-legal-departments-in-government-agencies%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\/03\/06\/a-new-program-to-develop-legal-departments-in-government-agencies\/\">\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=\"84093\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/a-new-program-to-develop-legal-departments-in-government-agencies\/2720-jpg-2\/\" 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-84092\" class=\"content-area-description single-story post-84092 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\/3\/.26a75784-9bc5-489b-b11d-6c990b8cf31f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Cabinet has approved setting up a new program to support and develop <\/strong><strong>legal <\/strong><strong>departments at government agencies<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2059242\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. It also approved the Culture Ministry\u2019s organizational structure. It did not provide further details on the two decisions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Cabinet reiterated its call to the international community to take a firm stance <\/strong><strong>compelling Israel to respect international law<\/strong> and immediately open safe humanitarian corridors to allow for the delivery of aid without restrictions.<\/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>Separate MoUs with <strong>Ethiopia<\/strong>, <strong>Senegal<\/strong> and <strong>Chad<\/strong> for cooperation in the <strong>energy<\/strong> sector;<\/li>\n<li>A draft reference model between the <strong>Transport General Authority<\/strong> (TGA) and counterparts in other countries in maritime transport; <\/li>\n<li>An agreement with the <strong>United Kingdom<\/strong> on <strong>air transport<\/strong>;<\/li>\n<li>Mandating the Transport and Logistics Services Minister to discuss and sign a MoU with <strong>Finland<\/strong> on <strong>air transport<\/strong>;<\/li>\n<li>Mandating the Economy and Planning Minister to discuss and sign a draft cooperation agreement with <strong>Estonia<\/strong>;<\/li>\n<li>Mandating the Environment, Water and Agriculture Minister to discuss and sign an MoU with the Center for Environment and Development for the Arab Region and Europe (<strong>CEDARE<\/strong>) to contribute in the center\u2019s endowment investment fund (Waqf); <\/li>\n<li>Authorizing King Abdulaziz Foundation for Research and Archives\u2019 chairman to sign MoU with the <strong>British Library<\/strong> in London;<\/li>\n<li>Mandating the Culture Minister to discuss and sign a MoU with <strong>Malaysia<\/strong> for cooperation in the cultural field.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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=\"84094\" 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=\"84094\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/more-earnings-ades-holding-tasnee-saptco-clean-life\/\">\r\n                            More earnings: Ades Holding, Tasnee, Saptco, Clean Life                        <\/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\/03\/06\/more-earnings-ades-holding-tasnee-saptco-clean-life\/\" 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\/03\/06\/more-earnings-ades-holding-tasnee-saptco-clean-life\/')\">\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\/03\/06\/more-earnings-ades-holding-tasnee-saptco-clean-life\/\">\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=More earnings: Ades Holding, Tasnee, Saptco, Clean Life&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/more-earnings-ades-holding-tasnee-saptco-clean-life\/\">\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\/03\/06\/more-earnings-ades-holding-tasnee-saptco-clean-life\/&title=More earnings: Ades Holding, Tasnee, Saptco, Clean Life\">\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=More+earnings%3A+Ades+Holding%2C+Tasnee%2C+Saptco%2C+Clean+Life+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F06%2Fmore-earnings-ades-holding-tasnee-saptco-clean-life%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\/03\/06\/more-earnings-ades-holding-tasnee-saptco-clean-life\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/477.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84095\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/more-earnings-ades-holding-tasnee-saptco-clean-life\/477-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/477.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"477.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/477.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/477.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84094\" class=\"content-area-description single-story post-84094 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-ades-holding tag-clean-life tag-earnings-watch tag-enterpriseam-ksa tag-national-industrialization-company tag-saudi-public-transport-company-saptco tag-tasnee 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\/3\/.c84f0bef-270d-4a34-b4d9-1b56684630ff.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ADES HOLDING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Tadawul-listed oil and gas drilling company Ades Holding\u2019s net income rose <\/strong><strong>13.7% y-o-y to SAR 452.1 mn in 2023<\/strong>, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/361.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a> yesterday. Its revenues were up 75.6% y-o-y to SAR 4.3 bn over the same period. On a quarterly basis, the Egypt-born company\u2019s bottomline fell 24% y-o-y to SAR 169 mn in 4Q 2023, while its topline was up 59.5% y-o-y to SAR 1.3 bn over the same period, according to <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/financial-reports\/company-report\/14629\/2023\/1?preview=true\" style=\"\" rel=\"noopener\">data seen by Argaam<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Deep dive: <\/strong>Ades attributed its topline growth to a completed acquisition in Saudi in 4Q 2022 that added four operations rigs to its portfolio and the launch of 14 rigs from the 19 contracts signed with Aramco among other drivers. The growth in bottomline came on the back of SAR 140.7 mn in non-recurring expenses and non-cash income recognized during FY 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Its operations in Algeria saw the biggest growth last year<\/strong>, with its revenues from the North African country rising 175.9% y-o-y to SAR 70.5 mn. This comes on the back of contributions from two new rigs from a recent contract award and higher utilization rates, it said. Revenues from Egypt\u2019s operations grew 56.6% y-o-y to SAR 534.9 mn in 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TASNEE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>National Industrialization Co. (Tasnee)\u2019s net income fell 73.8% y-o-y to SAR 174.6 mn in <\/strong><strong>2023<\/strong>, while revenues decreased 8.1% y-o-y to SAR 3.6 bn over the same period, 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-oyMjAzEA_ODVPvyA3NMIgMyA3XNdREQCsDXnR\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODUyNS9jb21wYW55U3ltYm9sLzIwNjAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The industrial company attributed the drop in its net income to lower sales and income share from investments in joint ventures. It said its revenues came in lower during the year due to average selling prices despite higher sales volumes of most of its products.<\/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> On a quarterly basis, Tasnee turned to losses in Q4 2023 to SAR 17 mn from a net income of SAR 43.1 mn in the corresponding quarter a year earlier. Its revenues were up 1.9% y-o-y during the period to SAR 957.1 mn, according to <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/financial-reports\/company-report\/72\/2023\/1\" style=\"\" rel=\"noopener\">data seen by Argaam<\/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\">SAPTCO-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Public bus operator Saptco trimmed net losses by 74.9% y-o-y to SAR 24.2 mn in 2023<\/strong>, while its revenues were up 19% y-o-y during the year to SAR 1.6 bn, 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-oyMTAxEA_ODVPvyA3NMIgMyA3XNdREQCbDvBT\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODUzNi9jb21wYW55U3ltYm9sLzQwNDAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadaqwul<\/a> yesterday. It attributed the decrease in losses during the period to higher revenues and an increase in financing income among others from an increase in operations in Ramadan and Hajj. On a quarterly basis, it lowered its losses by 23% y-o-y in Q4 2023 to SAR 71.9 mn, while its revenues were up 4.3% y-o-y to SAR 372.2 mn over the same period, according to <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/financial-reports\/company-report\/99\/2023\/1?preview=true\" style=\"\" rel=\"noopener\">data seen by Argaam<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Saptco\u2019s BoD approved setting up a training subsidiary that will be wholly owned by the company, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMTAxEC_IDc0wiAzIDfcUVERAEtdi4Q!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODUzOC9jb21wYW55U3ltYm9sLzQwNDAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">separate disclosure to Tadawul<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CLEAN LIFE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cleaning services provider Clean Life\u2019s net income rose by 11.3% y-o-y to SAR 9.2 mn in <\/strong><strong>2023<\/strong>, while revenues rose 48.5% y-o-y to SAR 49.3 mn over the same period, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/ldBNC4JAEAbgX-MxdrT86raSbomhJqLtJdYKE1zXw1b471vqJNjX3AaeF94ZRFGJaMduTc1kIzrWqn1PrYOJLTDWDsQxdm1Ig9AjmwjP_XSBijEggeEr4Hrpyic6EBvRv_KQJaYCyXYewQ4IWL_l4c1g-J6nYzJxwRhMVHyCDx1CROtWVK9_XqTslxpoINmJ3a-tpjoeBe9ZN2QDr4RCrunoKDt3qOd5XkKT8GKGH5KB-7A!\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODUzMS9jb21wYW55U3ltYm9sLzk1ODEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The rise in revenues came due to increases in sales capacity on the back of rising efficiency through automation and follow-up procedures. Its board of directors have proposed a <strong>dividend payout of SAR 30 mn at SAR 2 per share for 2H 2023<\/strong>, it said in a separate disclosure to Tadawul. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ades-holding\/\">Ades Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/clean-life\/\">Clean Life<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-industrialization-company\/\">National Industrialization Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-public-transport-company-saptco\/\">Saudi Public Transport Company (Saptco)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tasnee\/\">Tasnee<\/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=\"84096\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15542.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84097\" 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=\"84097\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/pif-wants-to-boost-its-investment-in-bahrain-plus-ma-manufacturing-and-real-estate\/\">\r\n                            PIF wants to boost its investment in Bahrain. Plus: M&amp;A, manufacturing and real estate                        <\/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\/03\/06\/pif-wants-to-boost-its-investment-in-bahrain-plus-ma-manufacturing-and-real-estate\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/pif-wants-to-boost-its-investment-in-bahrain-plus-ma-manufacturing-and-real-estate\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/pif-wants-to-boost-its-investment-in-bahrain-plus-ma-manufacturing-and-real-estate\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=PIF wants to boost its investment in Bahrain. 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No further information was provided. PIF launched a <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1643893\" style=\"\" rel=\"noopener\">Saudi-Bahraini Investment Company<\/a> last year with a capital of USD 5 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- <\/strong><strong>Seera <\/strong><strong>Group Holding offloaded 1.25 mn of its shares in Uber amounting <\/strong><strong>in a <\/strong><strong>SAR 380 mn transaction<\/strong> as part of the company\u2019s drive to maximize returns for its shareholders, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/59ca6ns5\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a> yesterday. The company has made a gain of SAR 164.6 mn from the transaction.The group\u2019s ownership in Uber was a result of <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc25nxtj\" style=\"\" rel=\"noopener\">Uber\u2019s acquisition of Careem<\/a> in 2019 \u2014 Careem was part of Seera\u2019s portfolio then.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Seera is a big player in the travel and tourism industry<\/strong>, holding car rental player Lumi, leading travel player Almosafer, and hotels in Jeddah, Riyadh, and Makkah.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Ayyan Investment has hired Alinma Bank as a financial advisor for the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/02a6018c-2ddc-422d-a78a-8f843cd0931e\" style=\"\" rel=\"noopener\">sale of<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/02a6018c-2ddc-422d-a78a-8f843cd0931e\" style=\"\" rel=\"noopener\">Al-Ahsa Medical Services Company<\/a><\/strong>to Dallah Healthcare Company, 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-oyMjQxEA_ODVPvyA3NMIgMyA3XNdREQAbMKrA\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODUyMi9jb21wYW55U3ltYm9sLzIxNDAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Saudi <\/strong><strong>Cable Company<\/strong><strong> is planning to exit its Turkey investments to trim losses,<\/strong> it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMjQ0EA_ODVPvyA3NMIgMyA3XNdREQChvSD-\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODU0NS9jb21wYW55U3ltYm9sLzIxMTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The decision is subject to regulatory approvals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Saudi Paper Manufacturing (SPM) has inked a SAR 300 mn non-binding agreement <\/strong><strong>with<\/strong><strong> Italian paper firm TOSCOTEC to procure a production line<\/strong> with a capacity of 60k tons annually to help boost its paper exports, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1710291\" style=\"\" rel=\"noopener\">Argaam<\/a> reported yesterday. The funds will be channeled from SPM\u2019s revenues and bank loans, it added. The new line will help bring the paper manufacturer\u2019s total capacity to 250k tons annually.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Saudia Technic signed a MoU with French defense electronics maker Thales to set <\/strong><strong>up a regional hub in Saudi for the repair of avionics<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/Saudiatechnic\/status\/1764995611227476299?s=20\" style=\"\" rel=\"noopener\">post on X<\/a> yesterday. It did not provide further details on the center. Saudia Technic is the aviation maintenance, repair, and overhaul (or \u201cMRO, in industry-speak) subsidiary of national flag carrier Saudia Group.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><strong>Saudia Technic inked a maintenance agreement with the PIF-owned The <\/strong><strong>Helicopter Company <\/strong><strong>(THC)<\/strong> to conduct aircraft maintenance checks (or as industry-speaks: \u201cD checks\u201d) of THC\u2019s helicopter fleet, it said in <a target=\"_blank\" href=\"https:\/\/x.com\/Saudiatechnic\/status\/1765012421385638202?s=20\" style=\"\" rel=\"noopener\">a post on X<\/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\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The National Housing Company (NHC) and Egypt\u2019s leading real estate developer Talaat <\/strong><strong>Moustafa Group launched Riyadh\u2019s new smart residential city Banan<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2059465\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. The project will be home to over 27k residential units across a project area of 10mn sqm. 40% of the project area will be allocated for vast green spaces, with the development also including healthcare, education and sports facilities among others. The project\u2019s investment cost is estimated at SAR 40 bn (c. USD 10.7 bn), TMG said <a target=\"_blank\" href=\"https:\/\/talaatmoustafa.com\/hisham-talaat-moustafa-providing-covid-19-vaccines-to-2-million-egyptians-is-a-national-duty\/\" style=\"\" rel=\"noopener\">last year<\/a>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-ahsa-medical-services-company\/\">Al-Ahsa Medical Services Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alinma-bank\/\">Alinma Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ayyan-investment-company\/\">Ayyan Investment Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/bahrain\/\">Bahrain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/dallah-healthcare-company\/\">Dallah Healthcare Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mbl\/\">Mbl<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/modern-building-leaders\/\">Modern Building Leaders<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mumtalakat\/\">Mumtalakat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nomu\/\">Nomu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/private-investment-company-pif\/\">Private Investment Company (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-paper-manufacturing\/\">Saudi Paper Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-bahraini-investment-company\/\">Saudi-Bahraini Investment Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudia-technic\/\">Saudia Technic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/taqat-mineral-trading\/\">Taqat Mineral trading<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/thales\/\">Thales<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/thc\/\">Thc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/the-helicopter-company\/\">The Helicopter Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/the-royal-commission-of-riyadh\/\">The Royal Commission of Riyadh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/toscotec\/\">Toscotec<\/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=\"84099\" 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=\"84099\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/btc-hits-fresh-all-time-high-before-tumbling-nearly-10\/\">\r\n                            BTC hits fresh all-time high before tumbling nearly 10%                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/478.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84100\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/btc-hits-fresh-all-time-high-before-tumbling-nearly-10\/478-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/478.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"478.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/478.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/478.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84099\" class=\"content-area-description single-story post-84099 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.f26dd6db-5f23-45fc-b3e7-419428c38028.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>BTC ends month-long rally with record-high price: <\/strong>The world\u2019s largest cryptocurrency surged to a record high yesterday, driven by strong demand for new <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/617d0147-c0d5-46e8-9a27-6f95b0dcd49d\" style=\"\" rel=\"noopener\">spot exchange-traded funds<\/a> and the expectation that global interest rates will fall later this year, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/bitcoin-surges-past-68000-sight-record-high-2024-03-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. BTC hit USD 69.2k \u2014 its highest level since its last peak of USD 69k in November 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But nothing lasts forever, especially on the notoriously volatile BTC market: <\/strong>After surpassing its previous record yesterday at around midday CLT, the price of BTC tumbled by 9% as of midnight last night. Throughout the whole 24-hour period, the cryptocurrency fell 6.2%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been a good few months for BTC: <\/strong>The cryptocurrency has already jumped 47.8% since the beginning of the year and is up a whopping 181% since the same time last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Asian markets are in the red this morning<\/strong>, with <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/03\/06\/asia-markets-live-updates.html\" style=\"\" rel=\"noopener\">CNBC<\/a> noting that markets are \u201ctracking Wall Street\u2019s slide\u201d in early trading as \u201cApple suppliers drop on declining iPhone sales in China.\u201d Futures were mixed overnight, suggesting a soft open for Wall Street and Europe later today. <\/p>\n<p><a target=\"_blank\" id=\"t.1eb5cb9a808863fadbc1b57e6990e310a0d84162\" 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\">12,470<\/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: +4.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,586<\/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: +2.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6.5% 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\">30,669<\/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: +23.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,236<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: -3.6%)<\/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>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\">4,246<\/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\">-1.9% (YTD: +4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,073<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1% (YTD: +6.1%)<\/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>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\">7,646<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: \u20131.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,893<\/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: +8.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 82.1<\/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\">-0.88%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 1.96<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,129<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 63,372.71<\/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\">-6.1% (YTD: +185.5%)<\/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 0.3% yesterday<\/strong> on turnover of SAR 10.5 bn. The index is up 4.2% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Alyamamah Steel (+10%), Amiantit (+9.9%) and Sadr (+9.8%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Albaha (-6.7%), Avalon Pharma (-5.4%) and Chubb (-3.1%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84101\" 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=\"84101\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/06\/gaza-remains-a-focal-point-on-saudis-diplomatic-agenda\/\">\r\n                            Gaza remains a focal point on Saudi\u2019s diplomatic agenda                        <\/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\/03\/06\/gaza-remains-a-focal-point-on-saudis-diplomatic-agenda\/\" 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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Meanwhile, Saudi Ambassador to the UN Abdulaziz AlWasil said the Kingdom will double down on UNRWA funding, despite unfounded allegations against the relief organization, according to <a target=\"_blank\" href=\"https:\/\/twitter.com\/ksamissionun\/status\/1764829818539868301\" style=\"\" rel=\"noopener\">a post on X<\/a>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/faisal-bin-farhan\/\">Faisal bin Farhan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hossein-amir-abdollahian\/\">Hossein Amir Abdollahian<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/war-watch\/\">WAR 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=\"84103\" 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\/03\/06\/84103\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84103\" class=\"content-area-description single-story post-84103 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 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 style=\"font-weight:400;\"> at Al Faisaliah Hotel, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-5 May (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/townhall-exhibition-kicks-off-next-may-in-riyadh-with-targeted-sales-of-2bln-pounds-srwjmorx\" style=\"\">TownhallExpo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-21 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\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>Leap Day 2 | PMI for February | PIF loves Bahrain | Seera offloads Uber stake | Aramco shortlisted for Singapore asset sale<\/p>\n","protected":false},"featured_media":84083,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-84082","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"8c4a51bc-b2f8-4dbf-a881-805324e878a1","teaser":"Leap Day 2 | PMI for February | PIF loves Bahrain | Seera offloads Uber stake | Aramco shortlisted for Singapore asset sale","photo_url":"https:\/\/ent.news\/2024\/3\/331.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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