{"id":84460,"date":"2024-03-18T00:00:00","date_gmt":"2024-03-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=84460"},"modified":"2025-12-14T17:39:57","modified_gmt":"2025-12-14T17:39:57","slug":"pif-eyes-saudia-and-inches-closer-to-golf-win","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/pif-eyes-saudia-and-inches-closer-to-golf-win\/","title":{"rendered":"PIF eyes Saudia and inches closer to golf win"},"content":{"rendered":"<section id=\"84462\" 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=\"84462\">\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\/18\/pif-and-the-pga-tour-will-meet-today-in-miami-in-a-bid-to-kickstart-talks-on-a-pga-liv-merger\/\">\r\n                            PIF and the PGA Tour will meet today in Miami in a bid to kickstart talks on a PGA-Liv merger                        <\/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\/18\/pif-and-the-pga-tour-will-meet-today-in-miami-in-a-bid-to-kickstart-talks-on-a-pga-liv-merger\/\" 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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It\u2019s shaping up to be a mostly cloudy week in the capital, with some sun peeking out on Wednesday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In <strong>Makkah<\/strong>, expect brisk winds through tomorrow with temperatures reaching a high of 40\u00b0C before cooling off to 28\u00b0C overnight. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Meanwhile in<strong> Madinah<\/strong>, brace for some scattered thunderstorms today with the weather peaking at 34\u00b0C before dropping to 24\u00b0C at night. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So, when do we eat? <\/strong>Maghrib prayers are at 6:04pm in the capital city, and you\u2019ll have until 4:40am tomorrow to hydrate and caffeinate ahead of fajr.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1-A meet-and-greet between the PIF and PGA Tour:<\/strong> Representatives from the Public Investment Fund and the PGA Tour will meet today in Florida for what will be \u201cmore of a meet-and-greet than a substantive discussion\u201d on outstanding issues, PGA Tour Policy Board member Patrick Cantlay told <a target=\"_blank\" href=\"https:\/\/www.si.com\/golf-news\/2024\/03\/17\/patrick-cantlay-confirms-meeting-saudi-arabia-public-investment-fund-liv-golf\" style=\"\" rel=\"noopener\">Sports Illustrated<\/a> yesterday. \u201cWell, I\u2019ve gotta hear out what they have to say, and I will always do my best to represent the entire membership whenever I am in a meeting in that capacity,\u201d Cantlay said. \u201cI think more information is always better,\u201d he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It remains unclear if PIF boss Yasir Al Rumayyan will attend today\u2019s meeting<\/strong> at the Ponte Vedra Beach in Florida despite earlier whispers that he could personally be the key to moving forward the merger of the tour and PIF-backed LIV Golf.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#2- It\u2019s a big week for the global hydrocarbon industry <\/strong>as <a target=\"_blank\" href=\"https:\/\/ceraweek.com\/index.html\" style=\"\" rel=\"noopener\">S&P Global\u2019s CERAWeek<\/a> kicks off in Houston, Texas, running through Friday. Saudi Aramco CEO Amin Nasser will be on stage along with the chiefs of ExxonMobil and BP. They\u2019ll be joined by a who\u2019s who of senior US and international policymakers, global energy and services executives, leaders of national oil companies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This year\u2019s big themes: <\/strong>The outlook for energy markets, policy and geopolitics, net-zero supply chains, the green transition in power markets, paying for the transition to greener energy, and climate and sustainability. Check out the full agenda <a target=\"_blank\" href=\"https:\/\/ceraweek.com\/program\/agenda.html?v=mon-6\" style=\"\" rel=\"noopener\">here<\/a> and the live stream <a target=\"_blank\" href=\"https:\/\/ceraweek.com\/promo\/cw24-live.html\" style=\"\" rel=\"noopener\">here<\/a>.<\/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>ALSO THIS WEEK- The US Federal Reserve\u2019s Federal Open Markets Committee meets on <\/strong><strong>Tuesday and Wednesday. <\/strong>Market watchers will be parsing every word when the Fed updated economic projections public after the meeting. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>At issue: How soon will the Fed cut rates \u2014 and how many times this year. <\/strong>Pundits now see the Fed leaving rates higher for longer than markets anticipate, according to economists surveyed in the latest <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/9d58ff6a-c6c4-4740-b3aa-5699a865c7f4\" style=\"\" rel=\"noopener\">Financial Times-Chicago Booth poll<\/a>. Most respondents think we\u2019ll see a maximum of two cuts this year. When? July or September, they say. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fear: Acting too soon will not entirely snuff out inflation<\/strong> as the \u201clast mile\u201d battle looks tougher than originally thought after a surprise uptick in inflation last month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a huge week for central bank watchers: <\/strong>In addition to the Fed, we\u2019ll see rate decisions or speeches from the Bank of Japan and the Bank of England. There will also be a barrel of economic indicators to parse, including consumer price or economic sentiment data from Canada, Germany, China, the EU and the United Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EM watchers will be keeping an eye on: <\/strong>Turkey (Thursday interest rate announcement), Russia (Friday rate announcement), Brazil (Wednesday announcement), and Indonesia (also Wednesday). <\/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- Egypt\u2019s EGAS is expanding to Saudi Arabia. <\/strong>The new venture, dubbed Modern Gas Saudi Arabia, will be 80% held by units of the state-owned natural gas player, Egypt\u2019s oil ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid02EvVhe2annkbcLBVd3S5TjoMUTEG4DHTz78VCjFzh45PYggKS4MuatFoboX48hT6Ul\" style=\"\" rel=\"noopener\">said in a statement<\/a>. EGAS is responsible for the development and management of natural gas in Egypt, where it oversees everything from exploration and production to the transportation and distribution of natural gas as well as LNG imports and exports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi Basira Company will hold a 20% stake in the venture<\/strong>, which <a target=\"_blank\" href=\"https:\/\/alamaltaqa.com\/news\/details\/41723\" style=\"\" rel=\"noopener\">looks set<\/a> to focus on contracting as well as natural gas distribution to industrial, commercial, and residential clients. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The value of residential mortgage loans written to individuals hit an <\/strong><strong>11-month high in January <\/strong><strong>2024 <\/strong>to SAR 7.5 bn, <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2478176\/business-economy\" style=\"\" rel=\"noopener\">Arab News<\/a> reported yesterday, citing data by central bank Sama. The loans in January are up 21% m-o-m.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Kingdom was the region\u2019s largest diesel exporter to Europe in February <\/strong><strong>2024<\/strong> at 192k barrels per day (bpd), data from <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/latest-news\/oil\/031424-middle-east-diesel-exports-to-europe-seen-rising-in-march-as-refinery-output-climbs\" style=\"\" rel=\"noopener\">S&P Global Commodities at Sea<\/a> showed last week. Kuwait\u2019s shipments came in second, with exports more than doubling to an average of 114k bpd. The region sent an average of 374k barrels per day to Europe, the highest in two months, the data showed. <\/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\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- Be safe out there: <\/strong>The Roads General Authority (RGA) is urging folks to drive with caution after fatal traffic accidents spiked 27% during the iftar rush last week, <a target=\"_blank\" href=\"https:\/\/saudigazette.com.sa\/article\/641236\/SAUDI-ARABIA\/27-rise-in-road-accident-fatalities-just-before-iftar-during-Ramadan\" style=\"\" rel=\"noopener\">Saudi Gazette<\/a> reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- Pilgrims can only perform Umrah once in Ramadan<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.okaz.com.sa\/news\/local\/2157497\" style=\"\" rel=\"noopener\">Okaz<\/a> reported, citing statements by the Hajj and Umrah Ministry. Permits issued through the pilgrimage itineraries booking platform Nusuk will be limited to one per person during the fasting month to help alleviate congestion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Prosecutors will use AI to help translate in cases involving foreign pilgrims<\/strong>, deploying an AI agent called Turjman that will be used be a special unit following up on cases involving hajj and umrah pilgrims, <a target=\"_blank\" href=\"https:\/\/www.alwatan.com.sa\/article\/1144027\" style=\"\" rel=\"noopener\">local media<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#4- <\/strong><strong>King Salman has ordered the disbursement of over SAR 3 bn in Ramadan aid <\/strong><strong>to social <\/strong><strong>security beneficiaries<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2066465\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday.<\/p>\n<p class=\"tag-border-left\">SPORTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Joy Joyce wants to show banking heavyweights who\u2019s boss in the Kingdom<\/strong> as he looks at planned fight cards in town for a chance of a comeback, <a target=\"_blank\" href=\"https:\/\/talksport.com\/sport\/1792496\/joe-joyce-message-anthony-joshua-tyson-fury-comeback\/\" style=\"\" rel=\"noopener\">talkSport<\/a> reports. \u201cAny opportunities in Saudi, we\u2019ll see. Here in the UK and America. The world is my oyster, especially as a heavyweight. I\u2019m really excited to get these big fight nights,\u201d he said in a statement after putting down Kash Ali in Birmingham on Saturday<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>And some football whispers:<\/strong> Atletico Madrid midfielder Rodrigo De Paul could be on the Saudi Pro League\u2019s radar for a summer transfer, according to <a target=\"_blank\" href=\"https:\/\/www.fichajes.net\/noticias\/nueva-oferta-sacar-paul-atletico-madrid-20240316.html\" style=\"\" rel=\"noopener\">Spanish media<\/a>. A financial offer of c. EUR 40 mn could prove tempting for the club, which is looking to clear its debts.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s another sleepy Monday in the global business press, with geopolitics<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/russias-presidential-vote-starts-final-day-with-accusations-kyiv-sabotage-2024-03-17\/\" style=\"\" rel=\"noopener\">Putin just won<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/russias-presidential-vote-starts-final-day-with-accusations-kyiv-sabotage-2024-03-17\/\" style=\"\" rel=\"noopener\">reelection<\/a>, getting six more years in power) <strong>and tech<\/strong> (the White House is pushing the Senate to take up without delay <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/03\/17\/white-house-senate-tiktok-bill.html\" style=\"\" rel=\"noopener\">a bill that would ban TikTok<\/a>) <strong>taking center stage<\/strong>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sign of the TImes- So. Much. AI. Anxiety. <\/strong>This time, physical robots take center stage:<\/p>\n<ul>\n<li><a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/03\/15\/2024\/ai-powered-robotics-will-fuel-jobs-disruptions-in-ways-we-dont-realize\" style=\"\" rel=\"noopener\">AI-powered robotics will fuel jobs disruptions in ways we don\u2019t realize<\/a>, writes Semafor\u2019s Alastair Clements and Reed Albergotti. <\/li>\n<li>The New York Times worries about <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/03\/11\/technology\/ai-robots-technology.html\" style=\"\" rel=\"noopener\">how \u201cthe AI that drives ChatGPT\u201d will impact the physical world<\/a> with the rise of robots. <\/li>\n<li><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/03\/17\/technology\/chatbot-xai-code-musk.html\" style=\"\" rel=\"noopener\">Elon has released the source code for Grok<\/a>, his AI chatbot. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Happening today: Super Micro Computer becomes an S&P 500 constituent. <\/strong>The server maker will instantly become the index\u2019s top one-year performer when it does. <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/ai\/super-micro-computer-company-profile-d93a41da\" style=\"\" rel=\"noopener\">The Wall Street Journal has the rundown on why<\/a>. (Hint: Lots to do with the AI revolution.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s a little xenophobia among friends? <\/strong>Republicans in the US Congress are probing whether Qatari funding for US universities has contributed to what they claim is a rise of antisemitism on college campuses. The catch: Most of the money they\u2019re talking about was spent to build outposts for US universities in Doha. The <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d0a16f75-8b05-4ff9-b5f1-d473d7f5a704\" style=\"\" rel=\"noopener\">Financial Times<\/a> has the story.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The four-day <\/strong><strong><a target=\"_blank\" 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=\"\" rel=\"noopener\">Townhall Expo<\/a><\/strong><strong> is slated for Thursday, 2 May<\/strong>, at Holiday Inn Hotel in Riyadh, featuring over 200 projects from Saudi-Egyptian real estate developers and investors who are aiming to wrap up EGP 2 bn in real estate transactions during the expo. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The three-day <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.smartfuturexpo.com\/\" style=\"\" rel=\"noopener\">Smart Future Expo<\/a><\/strong><strong> will open its doors on Monday, 13 May<\/strong>, at the Riyadh Front Exhibition and Convention Center. The gathering will include execs, investors, startups, and exhibitors, offering insights into smart tech including AI, AR, digital twin, cybersecurity, cloud computing, blockchain, business intelligence, IoT solutions, big data, and 3D printing. <strong>You can register <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.smartfuturexpo.com\/visitor-registration\/\" style=\"\" rel=\"noopener\">here<\/a><\/strong>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Projects tracking and analysis platform Meed is hosting the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/events.meed.com\/event\/saudigigaprojects\/\" style=\"\" rel=\"noopener\">Saudi Giga Projects 2024<\/a><\/strong><strong>forum on <\/strong><strong>Monday, 13 May<\/strong>, at Crowne Plaza Riyadh, convening contractors, suppliers and top industry execs. The summit will provide an overview of the USD 870 bn mega projects currently under development across the Kingdom including Qiddiya, Roshn, and Neom. <strong>You can register <\/strong><strong><a target=\"_blank\" href=\"https:\/\/events.meed.com\/event\/saudigigaprojects\/#contact-us\" style=\"\" rel=\"noopener\">here<\/a><\/strong><strong>.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Meed will also be hosting its annual<strong> MENA Construction Summit 2024 <\/strong>on Tuesday, 14 May, at the same venue, where industry leaders will have a chance to network and discuss the challenges and potentials of construction tech, climate change resilience and sustainable development in the digital economy. <strong>You can register <\/strong><strong><a target=\"_blank\" href=\"https:\/\/events.meed.com\/event\/menaconstructionsummit\/#contact-us\" style=\"\" rel=\"noopener\">here<\/a><\/strong><strong>.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two-day <\/strong><strong><a target=\"_blank\" href=\"https:\/\/fpf.sa\/en\" style=\"\" rel=\"noopener\">Future Projects Forum<\/a><\/strong><strong> kick starts on Monday, 20 May, <\/strong>at the Four Seasons Hotel in Riyadh, where contractors and investors will be able to meet 40 project owners including Aramco, the PIF, Investment Ministry, Asir Municipality, Mawani, Modon, and the Transport General Authority. The forum is expected to feature projects worth SAR 1 tn where contractors and investors can access information about these projects and weigh their bidding success chances. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ Check out our full Calendar on the web for links to all of these conferences.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil-watch\/\">oil watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pga-tour\/\">PGA Tour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pif\/\">PIF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/yasir-al-rumayyan\/\">Yasir Al Rumayyan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84463\" 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=\"84463\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/non-oil-economy-accounted-for-50-of-gdp-last-year-a-record-high\/\">\r\n                            Saudi Arabia\u2019s non-oil economy accounted for 50% of GDP last year \u2014 a record high                        <\/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\/18\/non-oil-economy-accounted-for-50-of-gdp-last-year-a-record-high\/\" 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\/18\/non-oil-economy-accounted-for-50-of-gdp-last-year-a-record-high\/')\">\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\/18\/non-oil-economy-accounted-for-50-of-gdp-last-year-a-record-high\/\">\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 economy accounted for 50% of GDP last year \u2014 a record high&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/non-oil-economy-accounted-for-50-of-gdp-last-year-a-record-high\/\">\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\/18\/non-oil-economy-accounted-for-50-of-gdp-last-year-a-record-high\/&title=Non-oil economy accounted for 50% of GDP last year \u2014 a record high\">\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+economy+accounted+for+50%25+of+GDP+last+year+%E2%80%94+a+record+high+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F18%2Fnon-oil-economy-accounted-for-50-of-gdp-last-year-a-record-high%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\/18\/non-oil-economy-accounted-for-50-of-gdp-last-year-a-record-high\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1428.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84464\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/non-oil-economy-accounted-for-50-of-gdp-last-year-a-record-high\/1428-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1428.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1428.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1428.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1428.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84463\" class=\"content-area-description single-story post-84463 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-economy-and-planning-ministry tag-enterpriseam-ksa tag-general-authority-for-statistics-gastat tag-oil-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\/.83b9a5dc-8b86-4e16-a624-7771341432c8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Non-oil activity accounted for 50% of the Kingdom\u2019s real GDP in 2023<\/strong>, fueled by a sharp increase in investments, consumption and export volumes, according to the <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mepsaudi_non-oil-activities-in-the-kingdom-recorded-activity-7174131593794469888-Xu_O?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">Economy and Planning Ministry\u2019s analysis<\/a> of <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/785.pdf\" style=\"\" rel=\"noopener\">data<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/785.pdf\" style=\"\" rel=\"noopener\">by the General Authority for Statistics (Gastat)<\/a>. This marks the highest-ever recorded contribution of the non-oil sector to local economic growth. <strong>The new figure values the non-oil economy at <\/strong><strong>SAR 1.7 <\/strong><strong>tn. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The Kingdom\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7c2a9f2e-2b7f-4395-9744-acfce39e6d20\/real%253cmark%253e-gdp-%253c%2Fmark%253eshrank-last-year-under-the-weight-of-oil-production-cuts\" style=\"\" rel=\"noopener\">real GDP dipped 0.8% y-o-y in 2023<\/a> on the back of a 9% fall in oil activity. Non-oil activity rose 4.4% y-o-y and government expenditure grew 2.1% y-o-y over the same period. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BREAKDOWN- 2023 vs. 2022:<\/strong> Crude petroleum and natural gas activities delivered the highest contribution to GDP in 2023 at a 25.4% (down from 32.7%). Next up:<\/p>\n<ul>\n<li><strong>Government services<\/strong> at 15.7% (down from 14.2%);<\/li>\n<li><strong>Wholesale and retail trade<\/strong>, restaurants and hotels at 9.7% (down from 8.2%);<\/li>\n<li><strong>Manufacturing<\/strong> (excluding petroleum refining) at 8.8% (up from 8.6%);<\/li>\n<li><strong>Petroleum refining<\/strong> at 6.0% (unchanged);<\/li>\n<li><strong>Real estate<\/strong> at 5.9% (up from 5.2%). <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(Here\u2019s the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/1484.pdf\" style=\"\" rel=\"noopener\">2022 report (pdf)<\/a> for reference if you want to dive deeper)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth drivers: <\/strong>Social and personal services including health, education and entertainment grew 10.8% in 2023, followed by transportation and telecoms (7.3%) and trade, restaurants and hotels (7%), financial, ins. and business services activities (6.8%), and mining and quarrying activities rose 5.7%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Falling oil activity: <\/strong>Crude petroleum and natural gas activities fell 9.4% y-o-y in 2023, while petroleum refining activities declined 7.4% y-o-y. The Kingdom cut oil production by 500k barrels per day in April 2023 in a bid to arrest falling oil prices. That figure became a 1 mn bpd voluntary cut by June. Though originally seen ending in December 2023, the government extended the 1 mn bpd cut through 1Q 2024 and now seems poised to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3286cbff-632f-42e9-924c-581b0232a7db\" style=\"\" rel=\"noopener\">continue it through June 2024<\/a>, maintaining production at 9 mn bpd.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the pundits are penciling in for 2024 and beyond:<\/strong>Rating agency Moody\u2019s forecasts the Kingdom\u2019s non-oil sector to grow at 5.5% this year on the back of major development projects and a robust economic environment, according to <a target=\"_blank\" href=\"https:\/\/www.moodys.com\/research\/Banking-System-Outlook-Saudi-Arabia-Continued-non-oil-growth-favorable--PBC_1397007\" style=\"\" rel=\"noopener\">a recent report<\/a>. S&P Global is expecting non-oil sector investments and high consumption to sustain GDP growth at 3.3% average through to 2027, according to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5f3a1da6-1cae-44f2-b686-435f934dd72b\" style=\"\" rel=\"noopener\">a recent statement<\/a>. Also, the IMF has cut its 2024 growth forecast for the Kingdom <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7d444a42-5759-4a7e-8680-6f4261ef0abc\" style=\"\" rel=\"noopener\">to 2.7%<\/a>, pointing to the combined effects of lower oil prices and production cuts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong>The Finance Ministry is targeting GDP growth of 4.4% in its budget for the current fiscal year, Finance Minister Mohamed Al Jadaan <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/05ff811b-9eff-456e-ac29-1f92de557a06\" style=\"\" rel=\"noopener\">said in December<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy-and-planning-ministry\/\">Economy and Planning Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/general-authority-for-statistics-gastat\/\">General Authority for Statistics (Gastat)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil-watch\/\">oil 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=\"84465\" 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=\"84465\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/the-pif-wants-to-buy-saudia\/\">\r\n                            PIF eyes acquisition of Saudia as part of privatization drive                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/the-pif-wants-to-buy-saudia\/\" 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\/18\/the-pif-wants-to-buy-saudia\/')\">\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\/18\/the-pif-wants-to-buy-saudia\/\">\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=The PIF wants to buy Saudia&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/the-pif-wants-to-buy-saudia\/\">\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\/18\/the-pif-wants-to-buy-saudia\/&title=The PIF wants to buy Saudia\">\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=The+PIF+wants+to+buy+Saudia+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F18%2Fthe-pif-wants-to-buy-saudia%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\/18\/the-pif-wants-to-buy-saudia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1468.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84466\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/the-pif-wants-to-buy-saudia\/1468-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1468.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1468.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1468.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1468.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84465\" class=\"content-area-description single-story post-84465 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam-ksa tag-ma-watch tag-pif tag-riyadh-air tag-saudia 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\/.4043d25e-c885-4c7d-8a65-70e9d03a1f51.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>PIF wants to take <\/strong><strong>Saudia<\/strong><strong>:<\/strong> The Public Investment Fund (PIF) is reportedly in early talks to acquire the Kingdom\u2019s national carrier <a target=\"_blank\" href=\"https:\/\/www.saudia.com\/pages\/travel-with-saudia\/book-with-us\/offers-and-featured-destinations\/offers-and-campaigns\/foundation-day-2024-gcc?sc_lang=en&gad_source=1&gclid=Cj0KCQjwqdqvBhCPARIsANrmZhN4bCYa9NROqymoyfsTz4md3oHqTHQlmc4thCFLLa-uEuMt4bCS7QIaApzoEALw_wcB\" style=\"\" rel=\"noopener\">Saudia<\/a> as soon as next year to add it to its aviation assets portfolio, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-17\/saudi-wealth-fund-said-to-be-in-talks-to-buy-national-airline\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported yesterday, citing sources close to the matter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>The ownership of the flagship airliner would be taken over by PIF from the government with the intention of improving its efficiency and net income, the sources said. The flagship carrier could be either privatized or merged with <a target=\"_blank\" href=\"https:\/\/www.riyadhair.com\/\" style=\"\" rel=\"noopener\">Riyadh Air<\/a> \u2014 a second flagship carrier being set up by PIF, they added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Details are still scant:<\/strong> There is no clarity as to how Saudia would be valued by PIF \u2014 which has in the past been given state assets in straight transfers \u2014 as part of preparation for privatization, according to Bloomberg. Talks are preliminary and it\u2019s entirely possible that the transaction doesn\u2019t go forward.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The PIF wants Riyadh Air to be the Gulf airlines boss: <\/strong>The sovereign wealth fund launched Riyadh Air in <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/w1868367\" style=\"\" rel=\"noopener\">March last year<\/a> as it looks to challenge its regional rivals Emirates and Qatar Airways. It is set to kick off its operations next year and has a target of operating flights between 100 destinations by 2030. Saudia will also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/b8a916d0-87ca-4a28-8726-543ac095fd3c\/today:-israel-accuses-houthis-of-seizing-british-owned-cargo-ship-in-the-red-sea-%2B%253cmark%253e-saudia-%253c%2Fmark%253ewill-leave-riyadh-in-2030-as-riyadh-air-takes-charge\" style=\"\" rel=\"noopener\">bid adieu<\/a> to capital Riyadh by 2030 to make way for Riyadh Air and will instead shift its focus towards operations in Jeddah\u2019s King Abdulaziz International Airport.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One for pilgrims, another for tourists:<\/strong> If the plan materializes, Saudia would shift focus on transporting pilgrims to holy sites, while Riyadh Air will focus on tourists, including international transit passengers, <a target=\"_blank\" href=\"https:\/\/www.cnbcafrica.com\/wire\/599693\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported yesterday, citing two sources close to the talks. The transfer of ownership would also include Saudia-owned budget carrier flyadeal, the sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The Tourism Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4d43f6ce-8ecc-41b8-8135-0da085f9952c\" style=\"\" rel=\"noopener\">recently more than doubled<\/a> its 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\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\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pif\/\">PIF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/riyadh-air\/\">Riyadh Air<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudia\/\">Saudia<\/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=\"84467\" 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=\"84467\">\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\">ENTERPRISE EXPLAINS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/breaking-down-aramcos-aston-martin-title-partnership\/\">\r\n                            Breaking down Aramco\u2019s Aston Martin title partnership                        <\/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\/18\/breaking-down-aramcos-aston-martin-title-partnership\/\" 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\/18\/breaking-down-aramcos-aston-martin-title-partnership\/')\">\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\/18\/breaking-down-aramcos-aston-martin-title-partnership\/\">\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=Breaking down Aramco\u2019s Aston Martin title partnership&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/breaking-down-aramcos-aston-martin-title-partnership\/\">\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\/18\/breaking-down-aramcos-aston-martin-title-partnership\/&title=Breaking down Aramco\u2019s Aston Martin title partnership\">\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=Breaking+down+Aramco%E2%80%99s+Aston+Martin+title+partnership+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F18%2Fbreaking-down-aramcos-aston-martin-title-partnership%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\/18\/breaking-down-aramcos-aston-martin-title-partnership\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1464.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84468\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/breaking-down-aramcos-aston-martin-title-partnership\/1464-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1464.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1464.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1464.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1464.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84467\" class=\"content-area-description single-story post-84467 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-explains tag-aramco tag-aston-martin tag-energy tag-enterprise-explains tag-enterpriseam-ksa tag-formula-1-f1 tag-fuel 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\/.fe0f5616-6119-4530-a664-50b0d1c89e71.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Aramco and Aston Martin are set to bring the heat to Formula 1 in 2024 <\/strong>after <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2023\/aramco-extends-successful-partnership-with-aston-martin-formula-one\" style=\"\" rel=\"noopener\">signing a five-year partnership<\/a> in December to make the state-owned oil giant sole title partner of the Aston Martin F1 team. The team hit the tracks for the first time this season earlier this month in Jeddah under its new name Aston Martin Aramco Formula One Team.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHY IT MATTERS:<\/strong><\/p>\n<ul>\n<li><strong>While financial details of the partnership weren\u2019t disclosed, F1 is all about the big <\/strong><strong>bucks:<\/strong> F1 teams are estimated to spend around USD 150 mn in a single season excluding driver salaries, <a target=\"_blank\" href=\"https:\/\/en.as.com\/racing\/how-much-does-a-formula-1-race-car-cost-n-4\/\" style=\"\" rel=\"noopener\">according to AS<\/a>. F1 teams raked USD 30 bn from sponsorships in the 15 years ending 2019, according to <a target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/csylt\/2019\/05\/19\/revealed-sponsors-fuel-formula-one-with-30-billion\/?sh=3af552272416\" style=\"\" rel=\"noopener\">Forbes<\/a>, and the sport has only grown in popularity since.<\/li>\n<li><strong>Besides the big spenders, the exposure is huge: <\/strong>Some 1.55 bn people tuned into F1 in 2021 as cumulative TV audience rose 4% y-o-y from a year earlier, according to <a target=\"_blank\" href=\"https:\/\/www.formula1.com\/en\/latest\/article.formula-1-announces-tv-race-attendance-and-digital-audience-figures-for-2021.1YDpVJIOHGNuok907sWcKW.html\" style=\"\" rel=\"noopener\">F1 data<\/a>. A F1 Netflix series titled <a target=\"_blank\" href=\"https:\/\/www.netflix.com\/eg-en\/title\/80204890\" style=\"\" rel=\"noopener\">\u201cDrive to<\/a><a target=\"_blank\" href=\"https:\/\/www.netflix.com\/eg-en\/title\/80204890\" style=\"\" rel=\"noopener\">Survive\u201d<\/a> is also seen as a gateway to the sport, with a <a target=\"_blank\" href=\"https:\/\/pro.morningconsult.com\/instant-intel\/f1-fandom-netflix\" style=\"\" rel=\"noopener\">survey in 2022<\/a> suggesting that more than half of F1 fans in the US say the show was the reason behind their fresh fandom of the motorsports. The hit series also catalyzed a 2.3% growth worldwide in F1 live event viewership, according to a <a target=\"_blank\" href=\"https:\/\/www.nielsen.com\/insights\/2022\/driven-to-watch-how-a-sports-docuseries-drove-u-s-fans-to-formula-1\/\" style=\"\" rel=\"noopener\">Nielsen study<\/a> in 2022.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aston Martin had a blockbuster 2023 season<\/strong>, finishing fifth in the constructor standings with Fernando Alonso bringing home the most podiums among non-Red Bull drivers and finishing fourth in the drivers\u2019 championship to cap off the team\u2019s best ever season. Aramco first <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/what-we-do\/energy-innovation\/innovation-ecosystem\/aramco-and-aston-martin-strategic-partnership\" style=\"\" rel=\"noopener\">partnered up with Aston Martin<\/a> for the 2022 season alongside IT company Cognizant and saw results after just one season. The partnership helped transform the team from a bottom five contender rarely in the points to a top five team that is fighting for podiums every weekend.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A brief history lesson on the Aston Martin Aramco F1 team: <\/strong>The Sahara Force India<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Formula One Team went <a target=\"_blank\" href=\"https:\/\/www.formula1.com\/en\/latest\/article.force-india-enter-administration.6a8cLpPApqIyOUsYMmUWEI.html\" style=\"\" rel=\"noopener\">into administration<\/a> in 2018. This brought in Canadian b\u2019naire Lawrence Stroll, who offered it a way out of bankruptcy by buying the team and rebranding it to Racing Point F1 team in a bid to keep the pink livery alive for the season. In 2021, the team was rebranded again to Aston Martin after Stroll became the majority shareholder in the British luxury car maker.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco is also F1\u2019s global energy partner <\/strong>undera <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2020\/aramco-announces-partnership-with-formula-1\" style=\"\" rel=\"noopener\">sponsorship agreement<\/a> struck in 2020 to mark the oil giant\u2019s first global sponsorship of a major sporting event. The sponsorship came on the cusp of F1\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/1436.pdf\" style=\"\" rel=\"noopener\">Sustainability Strategy (pdf)<\/a> which was launched in 2019.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A look at F1\u2019s sustainable fuels sandbox: <\/strong>F1 plans to deliver 100% sustainable fuels to its constructors\u2019 cars by 2026 as part of its plan to be Net Zero Carbon by 2030. It is set to rely heavily on Aramco with whom they \u201ctested 39 surrogate blends of fuels,\u201d according to F1 CTO Pat Symonds who is quarterbacking <a target=\"_blank\" href=\"https:\/\/www.formula1.com\/en\/latest\/article.formula-1-on-course-to-deliver-100-sustainable-fuels-for-2026.1szcnS0ehW3I0HJeelwPam.html\" style=\"\" rel=\"noopener\">this project<\/a>. Aramco will be making the fuels at two of its plants, one here in Saudi and one in Spain. It will be up to constructors to figure out how they can use this fuel in the most efficient (and fast)way and design their cars accordingly. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s much bigger than just racing cars: <\/strong>F1 is not just a weekly or bi-weekly event that involves cars going around the track at blinding speeds \u2014 it also doubles up as a research lab for industrial car manufacturing, with technology transfer between the two abundant but is \u201csubtler than bolting bits from one car onto another,\u201d according to <a target=\"_blank\" href=\"https:\/\/www.eurosport.com\/formula-1\/how-formula-one-technology-improves-your-road-car_sto4975756\/story.shtml\" style=\"\" rel=\"noopener\">Paddy Lowe to Eurosport<\/a>, former executive director at multi-championship winning Mercedes\u2019 F1 team. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The Public Investment Fund (PIF) upped its stake in British luxury car maker Aston Martin to 20.5% <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/saudi-wealth-fund-raises-stake-carmaker-aston-martin-2023-11-08\/\" style=\"\" rel=\"noopener\">in November<\/a>. It also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4fd81d59-21ba-4d7b-bb15-bd2e0a6d8d43\/aramco%25e2%2580%2599s-net-income-is-down,-dividend-is-up-%25e2%2580%2594-and-its-business-outlook-is-still-ambitious\" style=\"\" rel=\"noopener\">doubled up its stake<\/a> in Aramco to 16% earlier in March, a transfer of stock worth about USD 164.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aston-martin\/\">Aston Martin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/enterprise-explains\/\">ENTERPRISE EXPLAINS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/formula-1-f1\/\">Formula 1 (F1)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fuel\/\">fuel<\/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=\"84469\" 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=\"84469\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/al-taqat-minerals-ipo-was-fully-covered-ahead-of-its-debut-on-nomu\/\">\r\n                            Al Taqat Mineral\u2019s IPO was fully covered ahead of its debut on parallel market Nomu                        <\/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      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<\/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\/18\/al-taqat-minerals-ipo-was-fully-covered-ahead-of-its-debut-on-nomu\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1482.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84470\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/al-taqat-minerals-ipo-was-fully-covered-ahead-of-its-debut-on-nomu\/1482-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1482.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1482.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1482.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1482.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84469\" class=\"content-area-description single-story post-84469 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-al-taqat-mineral tag-alinma-investment tag-enterpriseam-ksa tag-ipo-watch tag-mazar tag-miyar-capital tag-nomu tag-tadawul wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.dbcd8ba7-1204-4dfe-850c-4ca214cbe014.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Nomu IPO of s<\/strong><strong>crap-metal recycler Al Taqat Mineral saw strong investor <\/strong><strong>demand, generating an order book of SAR 48 mn<\/strong>, according to <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\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFSklLSUtVUW9ncFJJa0EhIS9ZUFVFQUFBSUlFTUVDS0lFQUdJR09JT0lCSkZKRkJKTkROREJORUxMSEhQSFBMSEFnb2dvckFzQ0FBISEvNEpDaWpLMWJHTGppRUVwTWhUVlVrNUNpbXBwektETmJ0WmJPYW5tdDJzdGd0U0txb3lRIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9lbi9jb21wYW55U3ltYm9sLzExNjQvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4NzU5\/\" style=\"\" rel=\"noopener\">a filing to Tadawul<\/a>. The subscription period for qualified investors wrapped up on Wednesday, 13 March, and was fully covered. Eech investor has the chance to subscribe for a minimum of 10 shares and a maximum of 609k shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Al Taqat offering a 20% stake on Nomu, Tadawul\u2019s parallel market, at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/55cee431-e20b-4bf6-9c18-58e6a0c0ab79\/it%25e2%2580%2599s-day-three-of-leap-2024,-deepfest,-and-the-efg-hermes-one-on-one\" style=\"\" rel=\"noopener\">SAR 18 a<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/55cee431-e20b-4bf6-9c18-58e6a0c0ab79\/it%25e2%2580%2599s-day-three-of-leap-2024,-deepfest,-and-the-efg-hermes-one-on-one\" style=\"\" rel=\"noopener\">piece<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds: <\/strong>The companywill use the IPO proceeds to finance its expansion and growth plans, while SAR 3.4 mn of the proceeds are earmarked to cover the transaction\u2019s expenses, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/1475.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lock-up period: <\/strong>The company\u2019s two main shareholders will won\u2019t be able to sell shares for a period of 12 months starting from the date of listing on Nomu.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meet Al Taqat: <\/strong>Founded in 2017, the Riyadh-based company specializes in metal gathering and recycling, according to <a target=\"_blank\" href=\"https:\/\/taqatco.sa\/\" style=\"\" rel=\"noopener\">its website<\/a>. Clients include manufacturing heavyweights Sabic and Watania Steel. Al Taqat has also been involved in a handful of notable ventures including the Riyadh train, Aramco Dhahran, and Terminal 5 at King Khalid International Airport in Riyadh. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>2023 KPIs in a snapshot: <\/strong>Al Taqat accumulated net losses of SAR 2.8 mn in 1H 2023, while it was in the black in 1H 2022 with a net income of SAR 2.6 mn. Revenues fell 45% y-o-y to SAR 78 mn in 1H 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- Miyar Capital<\/strong> is quarterbacking the transaction as financial advisor, while <strong>Alinma <\/strong><strong>Investment<\/strong> is the underwriter, and <strong>Mazar<\/strong> is acting as auditor. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-taqat-mineral\/\">Al Taqat Mineral<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alinma-investment\/\">Alinma Investment<\/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\/mazar\/\">Mazar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/miyar-capital\/\">Miyar Capital<\/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\/tadawul\/\">Tadawul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84471\" 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=\"84471\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/still-more-earnings-2\/\">\r\n                            Still more earnings\u2026                        <\/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\/18\/still-more-earnings-2\/\" 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\/18\/still-more-earnings-2\/')\">\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\/18\/still-more-earnings-2\/\">\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=Still more earnings\u2026&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/still-more-earnings-2\/\">\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\/18\/still-more-earnings-2\/&title=Still more earnings\u2026\">\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=Still+more+earnings%E2%80%A6+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F18%2Fstill-more-earnings-2%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\/18\/still-more-earnings-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84471\" class=\"content-area-description single-story post-84471 post type-post status-publish format-standard hentry category-earnings-watch tag-cement tag-earnings-watch tag-enterpriseam-ksa tag-ins tag-manufacturing 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\/.77e13f94-74cf-48b8-a1ac-aa1c14abaf5b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Earnings from the ins. <\/strong><strong>sector<\/strong><strong> are in the spotlight today.<\/strong><\/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\">ALLIANZ SF-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The net income of <\/strong><strong><a target=\"_blank\" href=\"http:\/\/www.allianzsf.com\/\" style=\"\" rel=\"noopener\">Allianz Saudi Fransi Cooperative Ins.<\/a><\/strong><strong> rose 4x <\/strong><strong>y-o-y<\/strong><strong> to SAR 37 mn in <\/strong><strong>2023<\/strong>, and revenues were up 17.3% y-o-y to SAR 862.6 mn, 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-oyMLAxEA_ODVPvyA3NMIgMyA3XNdREQBWA_tk\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc0MC9jb21wYW55U3ltYm9sLzgwNDAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The ins. provider attributed its top and bottom line growth to better performance in its motor and medical segments.<\/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\">ARABIAN SHIELD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The net income of <\/strong><strong><a target=\"_blank\" href=\"http:\/\/www.der3.com\/\" style=\"\" rel=\"noopener\">Arabian Shield Cooperative Ins.<\/a><\/strong><strong> increased to SAR 65 mn in 2023, up <\/strong><strong>from SAR 406k in 2022<\/strong>, while revenues were up 24.7% y-o-y to SAR 1.1 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-oyMLA3EA_ODVPvyA3NMIgMyA3XNdREQD_ha3H\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODczNS9jb21wYW55U3ltYm9sLzgwNzAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SALAMA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"http:\/\/http\/\/www.salama.com.sa\/\" style=\"\" rel=\"noopener\">Salama Cooperative Ins.<\/a><\/strong><strong> turned into the black with a net income of SAR 51 mn in 2023<\/strong>, and revenues increased 34% y-o-y to SAR 802 mn, 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-oyMLA1EA_ODVPvyA3NMIgMyA3XNdREQAOgxmz\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc0NS9jb21wYW55U3ltYm9sLzgwNTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FIPCO-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"http:\/\/www.fipco.com.sa\/\" style=\"\" rel=\"noopener\">Filing and Packing Materials Manufacturing<\/a><\/strong><strong>\u2019s net income increased 22.5% <\/strong><strong>y-o-y<\/strong><strong> to SAR <\/strong><strong>12 mn in 2023<\/strong>, while revenues were down 8.7% y-o-y to SAR 238 mn, 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-oyMjQwkC_IDc0wiAzIDfcUVERADbSIsg!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODczOC9jb21wYW55U3ltYm9sLzIxODAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SPCC-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"http:\/\/https\/\/spcc.sa\" style=\"\" rel=\"noopener\">Southern Province Cement<\/a><\/strong><strong>\u2019s net income decreased 35% y-o-y to SAR 195 mn in 2023<\/strong>, and revenues were down 12.4% y-o-y to SAR 1.1 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-oyNjA1EA_ODVPvyA3NMIgMyA3XNdREQCbCPXt\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc1NC9jb21wYW55U3ltYm9sLzMwNTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SAUDI CABLE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul-suspended <\/strong><strong>Saudi Cable<\/strong><strong> turned into the black with a net income of SAR 33.5 mn <\/strong><strong>in 9M 2023<\/strong>, after accumulating net losses worth SAR 117.5 mn in 9M 2022, 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-oyMjQ0EA_ODVPvyA3NMIgMyA3XNdREQChvSD-\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc1MS9jb21wYW55U3ltYm9sLzIxMTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Meanwhile, revenues were down 69% y-o-y to SAR 19 mn. On a quarterly basis, the cable manufacturer\u2019s net losses declined to SAR 4.3k in 3Q 2023, down from SAR 35 mn in 3Q 2022. Its top line was down 42% y-o-y to SAR 3.5 mn in 3Q 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\">CHEMANOL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul-listed chemicals manufacturer Chemanol turned into a net loss of SAR 177.8 mn<\/strong>in 2023 due to a drop in average selling prices and sold quantities, 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-oyMjAwFC_IDc0wiAzIDfcUVERAFZuzDQ!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc1NS9jb21wYW55U3ltYm9sLzIwMDEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Its revenues were down 32.4% y-o-y during the year to SAR 723 mn.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cement\/\">cement<\/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\/ins\/\">Ins.<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84472\" 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=\"84472\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/fahad-misfer-al-battar-tapped-as-ceo-of-sabic-agri-nutrients\/\">\r\n                            Fahad Misfer Al-Battar tapped as CEO of Sabic Agri-Nutrients                        <\/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\/18\/fahad-misfer-al-battar-tapped-as-ceo-of-sabic-agri-nutrients\/\" 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\/18\/fahad-misfer-al-battar-tapped-as-ceo-of-sabic-agri-nutrients\/')\">\n             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  <\/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\/18\/fahad-misfer-al-battar-tapped-as-ceo-of-sabic-agri-nutrients\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1497.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84473\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/fahad-misfer-al-battar-tapped-as-ceo-of-sabic-agri-nutrients\/1497-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1497.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1497.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1497.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1497.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84472\" class=\"content-area-description single-story post-84472 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-ksa tag-fahad-misfer-al-battar tag-moves tag-newsmakers tag-sabic-agri-nutrients 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\/.94c706a5-0103-4b82-af61-0aadd4c362eb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Sabic Agri-Nutrients gets new CEO: <\/strong>Fertilizers maker Sabic Agri-Nutrients has appointed Fahad Misfer Al Battar (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/fahad-albattar-9190911ba\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Linkedin<\/a>) as its new CEO, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzIwMjAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4NzIy\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> last week. He is succeeding Abdulrahman Ahmed Shamsaddin (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/profile\/person\/21634643\" style=\"\" rel=\"noopener\">bio<\/a>), who has been nominated for a top executive position at parent company Sabic. Al Battar\u2019s appointment is effective 1 April, according to the disclosure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Battar is no stranger to the company:<\/strong> He brings over 25 years of experience in executive leadership with positions at Sabic and its subsidiaries since 1997, having most recently been COO at SABIC Agri Nutrients. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fahad-misfer-al-battar\/\">Fahad Misfer Al-Battar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/newsmakers\/\">Newsmakers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sabic-agri-nutrients\/\">Sabic Agri-Nutrients<\/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=\"84474\" 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\/108985.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>The Luxury of Certainty<\/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=\"84475\" 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=\"84475\">\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\/18\/cenomi-centers-redeems-another-fcy-sukuk-plus-news-from-first-mills-edfapay-roshn-and-more\/\">\r\n                            Cenomi Centers redeems another FCY sukuk. Plus: News from First Mills, EdfaPay, Roshn, and more                        <\/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\/18\/cenomi-centers-redeems-another-fcy-sukuk-plus-news-from-first-mills-edfapay-roshn-and-more\/\" 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\/18\/cenomi-centers-redeems-another-fcy-sukuk-plus-news-from-first-mills-edfapay-roshn-and-more\/')\">\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\/18\/cenomi-centers-redeems-another-fcy-sukuk-plus-news-from-first-mills-edfapay-roshn-and-more\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Cenomi Centers redeems another FCY sukuk. Plus: News from First Mills, EdfaPay, Roshn, and more&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/cenomi-centers-redeems-another-fcy-sukuk-plus-news-from-first-mills-edfapay-roshn-and-more\/\">\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\/18\/cenomi-centers-redeems-another-fcy-sukuk-plus-news-from-first-mills-edfapay-roshn-and-more\/&title=Cenomi Centers redeems another FCY sukuk. Plus: News from First Mills, EdfaPay, Roshn, and more\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Cenomi+Centers+redeems+another+FCY+sukuk.+Plus%3A+News+from+First+Mills%2C+EdfaPay%2C+Roshn%2C+and+more+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F18%2Fcenomi-centers-redeems-another-fcy-sukuk-plus-news-from-first-mills-edfapay-roshn-and-more%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\/18\/cenomi-centers-redeems-another-fcy-sukuk-plus-news-from-first-mills-edfapay-roshn-and-more\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84476\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/cenomi-centers-redeems-another-fcy-sukuk-plus-news-from-first-mills-edfapay-roshn-and-more\/263-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"263.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84475\" class=\"content-area-description single-story post-84475 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-agriculture tag-al-etihad-cooperative-insurance tag-also-on-our-radar tag-canadian-medical-center tag-cenomi-centers tag-enterpriseam-ksa tag-financial-services tag-fintech tag-first-mills tag-healthcare tag-manufacturing tag-nadec tag-retail tag-roshn tag-technology 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\/.94c706a5-0103-4b82-af61-0aadd4c362eb.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">RETAIL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- <\/strong><strong>Our friends at Cenomi Centers have fully redeemed sukuk worth USD <\/strong><strong>209 mn<\/strong>before their originally scheduled maturity on 26 November 2024, the lifestyle centers operator said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMTYyFC_IDc0wiAzIDfcUVERAD3cthI!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODczNC9jb21wYW55U3ltYm9sLzQzMjEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a filing to Tadawul<\/a> yesterday. The sukuk was issued in November 2019 and listed on the International Stock Exchange. The move saw the franchise retailer redeem 42% of its issued sukuk, with our friends at HSBC quarterbacking the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Our friends at First Mills have established a SAR 100k trade and investment arm<\/strong>dubbed First Food Supplies in a bid to fuel its expansion plans. The wholly-owned subsidiary will manufacture bakery, grain mill, and other starch products, 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-oyMjIwli_IDc0wiAzIDfcUVERAB9Di50!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc0Ni9jb21wYW55U3ltYm9sLzIyODMvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. It will also be tasked with the storage, transportation, wholesale trade, and retail sale of agricultural raw materials, live animals, food and beverages. <\/p>\n<p class=\"tag-border-left\">FINTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local fintech outfit EdfaPay receives accreditation from UK\u2019s Discover Global Network: <\/strong>Riyadh-based fintech <a target=\"_blank\" href=\"https:\/\/edfapay.com\/home\/\" style=\"\" rel=\"noopener\">EdfaPay<\/a> has received accreditation from leading global payments network <a target=\"_blank\" href=\"https:\/\/www.discoverglobalnetwork.com\/\" style=\"\" rel=\"noopener\">Discover Global Network<\/a>, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/1466.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> yesterday. The accreditation paves the way for EdfaPay to expand to new markets after setting up shop in South America and Pakistan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About EdfaPay:<\/strong> Set up in 2022, EdfaPay is a fintech that uses software point of sale (softPoS) and payment gateway services for online and offline merchants. It raised <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2022\/02\/saudi-fintech-edfapay-raises-16-million-pre-seed-round\" style=\"\" rel=\"noopener\">USD 1.6 mn<\/a> in a pre-seed round to help boost its progressive softPoS technology, which allows merchants accept card payments directly through their phones. It also raised <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2314296\/business-economy\" style=\"\" rel=\"noopener\">USD 3.2 mn<\/a> last year in a seed round to help fuel its expansion overseas.<\/p>\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nomu-listed <\/strong><strong>Canadian Medical Center signed a one-year contract worth SAR 11.3 mn with <\/strong><strong>industrial group We Build to operate and manage its clinics in Neom\u2019s Trojena<\/strong> mountain resort, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3w6cxewj\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Separately, it signed a one-year lease contract worth SAR 109.5k with Bayat Real Estate to rent its office in Tabuk to manage and run its projects in Neom for one year, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc3appxv\" style=\"\" rel=\"noopener\">separate disclosure<\/a>.<\/p>\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>Alujain Corp to manufacture engineering plastics with India\u2019s Samvardhana Motherson<\/strong><strong>:<\/strong><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/hidden\/company-profile-main\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30I4EKzBEKDMKcTQzMDPxN3H19LAzdTU31w8syU8v1wwkpK8hOMgUA-oskdg!!\/?companySymbol=2170\" style=\"\" rel=\"noopener\">Tadawul-listed<\/a> industrial investment firm Alujain Corp has signed a two-year MoU with Indian auto parts maker Samvardhana Motherson International to set up an engineering plastics facility, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWlEQ3WEEjI-IEiPOxgw6jiQwQ3CU-PeOutL46q7tubc3BQIJEEHPGacqk4Lmul8TZ2N7DlpDF2dhYPk4D7r9-cAPmzhuw-oZwDiyNRBNWxNcYIgOkH_0-KE8_K0nX5Gw8wq8iXgHvmQYAeG5TB__8ETacjmQiu1ZxSrzVOnxQany2DPQwLquTS4lz5m5lYWB7yQHeVSQPJM37uZyN1F0R-tTrtVEr0oqLvGlSKU-ZDU7CDETUBbLBLOoWLnKTtte4woOwvFX\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODczMy9jb21wYW55U3ltYm9sLzIxNzAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The complex will manufacture plastic compounds for the automotive and other specialized manufacturing industries under a localization push. No further financial details were provided.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All under a big plan for Alujain: <\/strong>The Riyadh-based company said the MoU comes under its expansion plans and ongoing efforts to boost localization in manufacturing industries. It said its plan sees it entering strategic partnerships with global players to help improve local content and the competitiveness of local manufacturing industries.<\/p>\n<p class=\"tag-border-left\">AGRICULTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nadec to<\/strong><strong> set up livestock JV with United Feed<\/strong><strong>: <\/strong>Tadawul-listed Natural Agricultural Development Company (Nadec) signed a partnership agreement with United Feed Co \u2014 a subsidiary of local private equity investment firm Al Muhaidib Group \u2014 to set up a joint venture for livestock and meat production, it said in a&nbsp;<a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMzA0EC_IDc0wiAzIDfcUVERAAdzMGM!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc0OS9jb21wYW55U3ltYm9sLzYwMTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" target=\"_blank\" rel=\"noopener\">disclosure to Tadawul<\/a>&nbsp;yesterday. Nadec will have a 51% stake in the planned JV\u2019s capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong> The agreement outlines terms and conditions to set up, manage and operate the JV and transactions between the two parties, Nadec said, without providing further details. It is set to help boost food security in the Kingdom though setting up high-tech farms to ensure the availability of high-quality local red meat to consumers.<\/p>\n<p class=\"tag-border-left\">FINANCIAL SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kuwait\u2019s Al Ahleia Ins. raised its direct ownership in Khobar-based Al Etihad Cooperative <\/strong><strong>Ins. to 28.7% from 10%<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/1491.pdf\" style=\"\" rel=\"noopener\">a disclosure to Boursa Kuwait (pdf)<\/a>. Its ownership was up after transferring its shares in Trade Union Holding, a major shareholder in Al Etihad, as part of a voluntary liquidation process by Trade Union. It said there was no impact on the company\u2019s financial position given that the ownership was only direct now.<\/p>\n<p class=\"tag-border-left\">TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Roshn taps into cybersecurity:<\/strong> Real estate developer Roshn \u2014 a wholly owned unit of the PIF \u2014 signed a MoU during LEAP with the Saudi Federation for Cybersecurity, Programming and Drones to explore technologies to establish smart buildings using network solutions and IoT technologies, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/roshn-signs-mou-with-the-saudi-federation-for-cybersecurity-programming-and-drones-o9csvy9h\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. Roshn will also look into employing drones in its real estate operations, it said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-etihad-cooperative-insurance\/\">Al Etihad Cooperative Insurance<\/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\/canadian-medical-center\/\">Canadian Medical Center<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cenomi-centers\/\">Cenomi Centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/first-mills\/\">First Mills<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nadec\/\">Nadec<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/retail\/\">Retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/roshn\/\">Roshn<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84477\" 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=\"84477\">\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\/18\/us-investors-beware-chinese-zombie-companies\/\">\r\n                            US investors, beware Chinese zombie companies                        <\/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\/18\/us-investors-beware-chinese-zombie-companies\/\" 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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Like TikTok parent company ByteDance \u2014 where some USD 8 bn of capital is stuck \u2014 these are Chinese firms, often booming, that are caught in geopolitical crosshairs, preventing investors from receiving returns. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The US House of Representatives last week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8ea59e39-6fc2-4391-a708-7c96349d5908\/another-package%3F\" style=\"\" rel=\"noopener\">voted<\/a> to give ByteDance six months to sell TikTok or face a ban in the US over concerns about the Chinese government\u2019s access to US user data.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s much more complicated than it may seem: <\/strong>Export control rules on tech imposed by China in 2022 mean that even if TikTok gets sold, its recommendation algorithm \u2014 the app\u2019s most valuable feature \u2014 is unlikely to be included in the sale. Buying TikTok without the algorithm would be akin to acquiring Hulu without the rights to its content, said Columbia Business School professor Jonathon Knee. \u201cIt\u2019s not completely clear what you\u2019re buying,\u201d he explained. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chinese companies aren\u2019t as attractive as they once were: <\/strong>China\u2019s regulatory crackdowns, coupled with falling company valuations triggered by the country\u2019s economic slowdown, have made acquisitions less tempting for US buyers. Some 3.2k Chinese companies were acquired last year, half of what was bought in 2019. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And less Chinese companies are IPOing in the US: <\/strong>Chinese companies have grown wary of listing in the US since ride hailing app Didi <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-23\/didi-gets-green-light-to-depart-us-markets-during-china-probe\" style=\"\" rel=\"noopener\">delisted<\/a> from the New York Stock Exchange in 2022 due to regulatory pressure by China. Only three Chinese startups listed in the US in 2022, down from 18 per year between 2018 and 2021.<\/p>\n<p class=\"tag-border-left\"> THE MARKET THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed <\/strong>and stock futures little changed in trading early this morning as traders take a breather ahead of fresh economic guidance from the US Federal Reserve and other central banks this week, as we note in this morning\u2019s What We\u2019re Tracking Today, above. <\/p>\n<p><a target=\"_blank\" id=\"t.672e05117495ea2d457cbd28cefc6ceafe57af5e\" 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\">12,762<\/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: +6.6%)<\/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>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\">1,605<\/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: +3.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/ourmarkets\/nomuc-market-watch\/nomu-indices-performance\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83Y0DDAwC3QL8PM0DzYwN3I30I4EKzBEKDMKcTQzMDPxN3H19LAwNnEz1w8syU8v1wwkpK8hOMgUA4hMwfw!!\/?chart_tasi_current_sector=NOMUC\" style=\"\" rel=\"noopener\">NomuC<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,280<\/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: +11.2%)<\/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-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>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\">31,062<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +24.8%)<\/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\">9,221<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -3.7%)<\/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>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\">4,263<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-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\">5,117<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +7.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,727<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,986<\/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: +10.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 85.34<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.09%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 1.66<\/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\">-4.94%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,155<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 68,507<\/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\">+2.4% (YTD: +150%)<\/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\">\n<p class=\"tag-border-left\">THE CLOSING BELL: TADAWUL-<\/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 9 bn. The index is up 6.6% 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>Saudi Steel Pipe (+10%), Saudi Advanced Industries (+10%) and Wafrah for Industry and Development (+10%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>East Pipes (-4.6%), Arabian Shield (-4.2%) and MBC Group (-3.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong><strong> rose <\/strong>1.1<strong>% yesterday<\/strong> on turnover of SAR 41 mn. The index is up 11.2% 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>Banan (+19.2%), Apico (+7.5%) and Raoom (+5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Ngdc (-8%), Leen Alkhair (-6.5%) and Aldawliah (-5.3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Nomu-listed <\/strong><strong>Saudi Advanced Industries (SAIC) is mulling the distribution of part of its<\/strong><strong> stake <\/strong><strong>\u2014 <\/strong><strong>300k shares <\/strong><strong>\u2014 <\/strong><strong>in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/obeikanglass.sa\" style=\"\" rel=\"noopener\">Obeikan Glass<\/a><\/strong><strong>to its shareholders <\/strong>in a bid to meet the liquidity requirement for transitioning to main market Tadawul, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/4pvhr6mr\" style=\"\" rel=\"noopener\">a regulatory filing<\/a>. SAIC owns a 34.56% stake in the company. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- SAIC plans to pay out SAR 44.3 mn in dividends at SAR 0.75 per share for<\/strong><strong> 2023<\/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\/jZFNb4JAEIZ_Sw-eZ4CwrL2tiCtGQAQK7MUstbEk8hFDNf77bjVpUizEvW3yvDPvkwEBGYhansuD7Mqmlkf1zwXZmYygvqQY4DK2kWDESRJTbe4akPaAaGNiuNh4xhq3yJGAeCaPA4_hc_lfgHqcYOizMNAtE_nbE3nxF-EL3VEG01k4d7iG3OoD_yjegDGH0RY66QMBm1pqxWrG3TUzKHno8Ki5AnE4NsX9ZJ9d175OcIKd3MvL13GiKrw3VSvra3StikZBuqbjECrr2pYdZNow4O4hs6hlTCFXB7AG3UIC6bn8uEBSN6dKtYt-VJjvB4lvO57jxzs_8WbOFvL7ONFvmt-axsp_dEskT9BWSZJh6ZabKqWdWZiHihome_kG5L98Vg!!\/dz\/d5\/L0lHSkovd0RNQUxrQUVnQSEhLzROVkUvZW4!\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Leejam Sports is set to buy back up to 200k of its shares to allocate them to its <\/strong><strong>employee stock ownership program<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5n84xz83\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/us-china-relations\/\">US-China relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84479\" 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=\"84479\">\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\/18\/crown-prince-reaffirms-support-to-pakistan-in-congratulatory-phone-call-with-reelected-pakistani-pm\/\">\r\n                            Crown Prince affirms support to Pakistan in congratulatory phone call with reelected Pakistani PM                        <\/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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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1499.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1499.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1499.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1499.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84479\" class=\"content-area-description single-story post-84479 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-enterpriseam-ksa tag-mohammed-bin-salman tag-pakistan 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\/.5414f844-d4d5-4b5a-925e-c3181c21e42f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Crown Prince Mohammed bin Salman stressed the Kingdom\u2019s support to cash-strapped <\/strong><strong>Pakistan <\/strong>during a phone call to congratulate recently reelected Pakistani PM Shehbaz Sharif, according to a <a target=\"_blank\" href=\"https:\/\/pid.gov.pk\/site\/press_detail\/24718\" style=\"\" rel=\"noopener\">statement from Pakistan\u2019s<\/a><a target=\"_blank\" href=\"https:\/\/pid.gov.pk\/site\/press_detail\/24718\" style=\"\" rel=\"noopener\">Information Ministry<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The Kingdom has been among key backers of the financial crisis-hit Pakistan struggling from depleted foreign reserves. It <a target=\"_blank\" href=\"https:\/\/www.arabnews.pk\/node\/2417451\/pakistan\" style=\"\" rel=\"noopener\">extended the term<\/a> for its USD 3 bn in deposits at the State Bank of Pakistan for an additional year maturing in December this year. The country also <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/saudi-arabia-deposits-2-bln-pakistan-central-bank-account-pakistan-finance-2023-07-11\/\" style=\"\" rel=\"noopener\">received last year<\/a> USD 2 bn in financial assistance from the Kingdom to shore up finances.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Foreign Ministry welcomed a UN resolution aimed at combating Islamophobia<\/strong>, the ministry said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/KSAmofaEN\/status\/1768802567184634020?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\" style=\"\" rel=\"noopener\">statement on X<\/a>. \u201cThe Kingdom permanently supports the consolidation of a culture of mutual respect between followers of religion and sects and promotes the culture of coexistence\u2026,\u201d it said. The <a target=\"_blank\" href=\"https:\/\/news.un.org\/en\/story\/2024\/03\/1147626\" style=\"\" rel=\"noopener\">adopted UN resolution<\/a>, which was tabled by Pakistan, will see the UN appoint a special envoy to combat Islamophobia.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mohammed-bin-salman\/\">Mohammed bin Salman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pakistan\/\">Pakistan<\/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=\"84481\" 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\/18\/84481\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84481\" class=\"content-area-description single-story post-84481 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;\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-11 April (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/article\/b222obq-abu-dhabi-host-saudi-super-cup-april#:~:text=ABU%20DHABI%2C%209th%20March%2C%202024,East%20outside%20of%20Saudi%20Arabia.\" style=\"\">Saudi Super Cup<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi.<\/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<\/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>16 April (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/mos.gov.sa\/en\/mediacenter\/eventscenter\/Pages\/eventdetails.aspx?ItemID=69\" style=\"\">FEI World Cup Equestrian<\/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>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 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=\"\">Townhall Expo<\/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>6-9 May (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-smartmanufacturing.com\/\" style=\"\">Saudi Smart Manufacturing<\/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>6-9 May (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-smartlogistics.com\/\" style=\"\">Saudi Smart Logistics<\/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>13-15 May (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.smartfuturexpo.com\/\" style=\"\">Smart Future Expo<\/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>13 May (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/events.meed.com\/event\/saudigigaprojects\/\" style=\"\">Saudi Giga Projects<\/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>20-21 May (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fpf.sa\/en\" style=\"\">Future Projects Forum<\/a><\/span><span style=\"font-weight:400;\">, Four Seasons Hotel, 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>4-7 June (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudisportshow.com\/\" style=\"\">Saudi Sports 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>4-7 June (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/aqaratexpo.com\/en\/home\/\" style=\"\">Aqarat Expo<\/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>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>17-19 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/evautoshowonline.com\/\" style=\"\">EV Auto 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>24-26 September (Tuesday-Thursday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiinfrastructureexpo.com\/\" style=\"\">Saudi Infrastructure Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention and Exhibition Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span 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;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 Novemeber ( Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiarabia-energy.com\/en\/home.html\" style=\"\">Saudi Electricity Expo<\/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;\">DECEMBER<\/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;\">2-13 December (Monday-Friday): Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification, 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 style=\"font-weight:400;\">The AFC Champions League Elite<\/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;\">2025<\/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;\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10-13 February (Monday-Thursday): Leap 2025, the Kingdom\u2019s premier tech investment conference<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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