{"id":84504,"date":"2024-03-19T00:00:00","date_gmt":"2024-03-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=84504"},"modified":"2025-12-14T17:40:40","modified_gmt":"2025-12-14T17:40:40","slug":"abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/","title":{"rendered":"\u201cAbandon the fantasy of phasing out oil and gas\u201d \u2013Aramco\u2019s Nasser"},"content":{"rendered":"<section id=\"84506\" 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=\"84506\">\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\/19\/tons-of-speculation-as-pif-pga-tour-officials-said-to-sit-down-in-bahamas-in-a-bid-to-save-merger-talks\/\">\r\n                            Tons of speculation as PIF, PGA Tour officials said to sit down in Bahamas in a bid to save merger talks                        <\/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\/19\/tons-of-speculation-as-pif-pga-tour-officials-said-to-sit-down-in-bahamas-in-a-bid-to-save-merger-talks\/\" 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\/19\/tons-of-speculation-as-pif-pga-tour-officials-said-to-sit-down-in-bahamas-in-a-bid-to-save-merger-talks\/')\">\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\/19\/tons-of-speculation-as-pif-pga-tour-officials-said-to-sit-down-in-bahamas-in-a-bid-to-save-merger-talks\/\">\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=Tons of speculation as PIF, PGA Tour officials said to sit down in Bahamas in a bid to save merger talks&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/tons-of-speculation-as-pif-pga-tour-officials-said-to-sit-down-in-bahamas-in-a-bid-to-save-merger-talks\/\">\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\/19\/tons-of-speculation-as-pif-pga-tour-officials-said-to-sit-down-in-bahamas-in-a-bid-to-save-merger-talks\/&title=Tons of speculation as PIF, PGA Tour officials said to sit down in Bahamas in a bid to save merger talks\">\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=Tons+of+speculation+as+PIF%2C+PGA+Tour+officials+said+to+sit+down+in+Bahamas+in+a+bid+to+save+merger+talks+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F19%2Ftons-of-speculation-as-pif-pga-tour-officials-said-to-sit-down-in-bahamas-in-a-bid-to-save-merger-talks%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\/19\/tons-of-speculation-as-pif-pga-tour-officials-said-to-sit-down-in-bahamas-in-a-bid-to-save-merger-talks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84506\" class=\"content-area-description single-story post-84506 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-al-nahdi-medical tag-aramco tag-enterpriseam-ksa tag-oil-watch tag-pif tag-what-were-tracking-today tag-yasir-al-rumayyan wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.06550986-8ef2-43d3-9b4a-4921839f81a4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, <\/strong><strong>wonderful people. <\/strong>The pace of business might feel a bit slower in Ramadan, but there\u2019s no sign of the seasonal news slowdown this morning, so let\u2019s jump right in.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>We\u2019re not sure anybody in the Kingdom (who isn\u2019t a rabid golf fan) cares as <\/strong><strong>much as the Americans do, but here we go: <\/strong>Golf nuts around the world are resorting to flight trackers to try to figure out who was attending a face-to-face meeting expected yesterday between representatives of the Public Investment Fund and the PGA Tour. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>They\u2019re in the Bahamas, not Florida: <\/strong>Wags expected the talks to take place in Miami, but flight trackers have an Aramco-owned (or chartered) jet landing in the Bahamas, where golf icon (and PGA policy board member) Tiger Woods has a base. Jets leased by the PGA Tour commissioner and one of the tour\u2019s big American backers also touched down in the Bahamas yesterday, <a target=\"_blank\" href=\"https:\/\/golfweek.usatoday.com\/2024\/03\/18\/pga-tour-tiger-woods-saudi-arabia-pif-meeting-bahamas\/\" style=\"\" rel=\"noopener\">USA Today\u2019s Golfweek<\/a> reports. Fox Sports, meanwhile, says that Woods joined the \u201cmeet and greet\u201d with PIF officials including chairman Yasir Al Rumayyan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>At stake: <\/strong>A merger between the PIF-back Liv Golf, the US PGA Tour, and the European Tour. A self-imposed deadline of 31 December 2023 came and went with no ink on paper. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outcome of the meeting? <\/strong>There was no news as of dispatch time this morning. The PIF seems committed to seeing talks through, though: Golf and tennis are shaping up as two of the cornerstones of its contribution to the Kingdom\u2019s drive to become a major global sports power. <\/p>\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>The world should \u201cabandon the fantasy of phasing out oil and gas,\u201d<\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/ceraweek-saudi-aramco-ceo-argues-re-set-energy-transition-timetables-2024-03-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported Aramco CEO Amin Nasser as saying at CERAWeek in Houston. \u201cWe should abandon the fantasy of phasing out oil and gas, and instead invest in them adequately, reflecting realistic demand assumptions, as long as essential,\u201d he said during the S&P Global gathering, urging revised energy transition plans.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nasser believes global oil demand won\u2019t peak soon<\/strong> as he forecast oil demand to hit a new record of 104 mn bpd this year. While renewable energy is becoming more affordable and attracting growing investment, it has yet to take the place of hydrocarbons at scale, he said. \u201cAll this strengthens the view that peak oil and gas is unlikely for some time to come, let alone 2030,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>MEANWHILE- The Kingdom\u2019s crude production inched up 0.2% m-o-m in January <\/strong><strong>2024 to 8.96 mn<\/strong><strong> barrels per day (bpd)<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.jodidata.org\/oil\/database\/customisable-charts.aspx#cdSaudiArabia\" style=\"\" rel=\"noopener\">data from the Joint Organizations Data Initiative (JODI)<\/a> showed yesterday. Crude exports were slightly down 0.17% to 6.29 mn bpd on the back of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3286cbff-632f-42e9-924c-581b0232a7db\/leap,-deepfest-and-the-efg-hermes-one-on-one-kick-off-today\" style=\"\" rel=\"noopener\">voluntary oil curbs by Saudi<\/a> that will remain in effect through June. The cuts aim to keep a floor under the price of crude.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US Federal Reserve\u2019s Federal Open Markets Committee kicks off a two-day meeting <\/strong><strong>today. <\/strong>Market watchers will be parsing every word when the Fed\u2019s updated economic projections are made public tomorrow after the meeting. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>PSA- You might need to double check your flight status if you\u2019re traveling through King <\/strong><strong>Khaled<\/strong><strong> International Airport <\/strong>due to rainfall across the capital, the airport said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/KKIASA\/status\/1769627217254883507?s=20\" style=\"\" rel=\"noopener\">post on X<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Gray skies and rainfall are still in the cards for Riyadh today<\/strong>, as temperatures in the capital oscillate between a daytime high of 30\u00b0C and an overnight low of 23\u00b0C. <strong>The highest chance of rain today is between 9am and 3pm<\/strong>, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In <strong>Taif, <\/strong>it\u2019s shaping up to be a cloudy day, with the weather peaking at 21\u00b0C before falling to 14\u00b0C at night. Expect some sun to peak out tomorrow.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Meanwhile, <strong>AlUla<\/strong> is in for a lot of sun, with temperatures hitting a daytime high of 19\u00b0C and falling to 9\u00b0C overnight.<\/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>It\u2019s the ninth day of Ramadan. Maghrib prayers are at 6:05pm in the capital city, and you\u2019ll have until 4:39am tomorrow to finish eating and caffeinating ahead of fajr.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Aramco is getting its first foreign market maker: <\/strong>Tadawul has given the green light to Merrill Lynch KSA\u2019s request to become a market maker for Aramco shares, making it the first foreign market maker in the Kingdom, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/bdtbjuaj\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Merrill will start market-making today<\/strong>, joining domestic champions <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details\/?1dmy&urile=wcm:path:\/Tadawul_en\/SA-Tadawul\/SA-PricesAndIndeces\/SA-News\/SA-MarketNews\/CT-marketnews-10092023%20market%20maker\" style=\"\" rel=\"noopener\">Riyad Capita<\/a> l and <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2345856\/business-economy\" style=\"\" rel=\"noopener\">SNB<\/a><a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2345856\/business-economy\" style=\"\" rel=\"noopener\">Capital<\/a> as market makers for the oil giant\u2019s shares. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong>Market makers keep the market moving smoothly, buying and selling securities on their own account to help provide liquidity for listed equities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Aramco is looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/fe1fde79-5cc7-4189-a4fe-360d3fa88c51\" style=\"\" rel=\"noopener\">revive plans<\/a> to sell shares in a secondary offering that could raise some USD 20 bn in what would be one of the world\u2019s largest offerings in recent years. The oil giant <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4b51a41c-d94e-4d73-adeb-17186d5bb104\/Inching-closer-to-a-blockbuster-Aramco-share-sale\" style=\"\" rel=\"noopener\">is in talks<\/a> with bulge bracket investment banks to quarterback the planned share sale<\/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\">.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt4\"><\/a> <strong>#2- <\/strong><strong>Al Nahdi Medical eyes broader Gulf expansion: <\/strong>The Kingdom\u2019s leading retail pharma chain plans to expand in the Gulf after a successful entry into the UAE as its first market overseas last year, CEO Yasser Joharji told Al Arabiya in an interview (<a target=\"_blank\" href=\"https:\/\/tinyurl.com\/mtxuumca\" style=\"\" rel=\"noopener\">watch, runtime: 10:25<\/a>). \u201cLast year saw an outstanding performance for Al Nahdi in the UAE as our presence grew, with sales rising 236%,\u201d he said. \u201cThis has raised our ambitions to expand geographically in the Gulf in the future,\u201d he said, without providing details on target countries or a timeline. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next for the UAE: <\/strong>Joharji said Al Nahdi plans to add to the 15 pharmacies opened in the UAE last year. \u201cHigher sales [in the UAE] have increased our appetite for expansion in other Gulf markets, including Kuwait, Bahrain and Oman,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt5\"><\/a> <strong>#4- Another Nomu IPO:<\/strong> The Capital Market Authority (CMA) has approved Yaqeen Capital\u2019s offering of 20% of its shares on the parallel market Nomu, it said in a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3510.aspx\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yaqeen is itself one of the more prolific advisors to companies looking to go public on <\/strong><strong>Nomu<\/strong>, including recent offerings by Pan Gulf Marketing and Al Modawat Specialized Medical. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- Nomu is Tadawul\u2019s version of London\u2019s AIM<\/strong>, offering lighter listing and financial reporting requirements in a bid to attract companies at earlier stages of development, including smaller businesses and startups. There is no profitability requirement to list on Nomu, which is open only to qualified investors (read: most day-trading retail investors need not apply). Want to go deeper? <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/rules-guidance\/capital-market-overview\/Equities\" style=\"\" rel=\"noopener\">Tap or click 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>#5- DIPLOMACY- King Salman and Crown Prince Mohammed bin Salman <\/strong><strong>congratulated Russian President Vladimir Putin<\/strong> after the Russian leader won re-election, state news agency SPA reported (<a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2069136\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2069137\" style=\"\" rel=\"noopener\">here<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#6- DATA POINT- Credit facilities provided by Saudi EXIM Bank rose 21.3% y-o-y <\/strong><strong>to <\/strong><strong>SAR 16.5 bn in 2023<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2067999\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. This is up 33% from a target of SAR 12.4 bn forecast for the year.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Benjamin Netanyahu is sending a team to Washington <\/strong>after Joe Biden on Monday said that an assault on Rafah \u201cwould be a mistake.\u201d The Israeli delegation will arrive in DC \u201cwith alternative plans for the next stage of its offensive against Hamas in Gaza.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story leads global front pages this morning<\/strong>, along with a global food monitor\u2019s <strong>stark <\/strong><strong>warning that mass death due to starvation is now imminent in Gaza <\/strong>\u201cwithout an immediate ceasefire and surge of food to areas cut off by fighting. See: <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6741674d-2b3b-43f4-8120-b119bf97d843\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/gaza-suffers-famine-level-shortages-mass-death-imminent-un-backed-monitor-says-2024-03-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Donald Trump can\u2019t get a bond to cover the USD 454 mn civil-fraud judgment <\/strong>against him, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/us-news\/law\/trump-cant-secure-bond-for-454-million-civil-fraud-judgment-6c6fb7f1?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also worth knowing about this morning: <\/strong>The FT wonders <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e2f62a3b-7ca5-4115-a993-73ecb3d9ff75\" style=\"\" rel=\"noopener\">whether UBS can \u201cbecome<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e2f62a3b-7ca5-4115-a993-73ecb3d9ff75\" style=\"\" rel=\"noopener\">Europe\u2019s Morgan Stanley\u201d<\/a>, another key exec is <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/stephanie-cohen-is-latest-senior-goldman-executive-to-depart-a50312a2?mod=hp_lead_pos9\" style=\"\" rel=\"noopener\">\u201cjoining an exodus of top female talent\u201d from Goldman Sachs<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-18\/old-embassy-is-latest-flashpoint-in-simmering-north-african-feud?srnd=homepage-middle-east&sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Tensions are again boiling between Algeria and Morocco<\/a>, which cut off diplomatic relations back in 2021. Bloomberg has a good <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-17\/why-the-fight-over-western-sahara-is-heating-up-again-quicktake?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">backgrounder<\/a> if you want to get up to speed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FINALLY- An internet outage affecting West Africa could take up to five weeks to resolve <\/strong>as crews scramble to repair a damaged undersea cable, <a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/03\/18\/2024\/africas-damaged-undersea-cables-disrupt-internet-for-weeks\" style=\"\" rel=\"noopener\">Semafor<\/a> reports. Among those impacted: Nigeria, Ghana, Senegal and C\u00f4te d\u2019Ivoire, where websites and online banking portals are down.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-nahdi-medical\/\">Al Nahdi Medical<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/oil-watch\/\">oil 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\/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=\"84507\" 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=\"84507\">\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\">BANKING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/the-kingdoms-top-ten-banks-saw-strong-earnings-last-year\/\">\r\n                            The Kingdom\u2019s top ten banks saw strong earnings last year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/the-kingdoms-top-ten-banks-saw-strong-earnings-last-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/the-kingdoms-top-ten-banks-saw-strong-earnings-last-year\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/the-kingdoms-top-ten-banks-saw-strong-earnings-last-year\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Kingdom\u2019s top ten banks saw strong earnings last year&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/the-kingdoms-top-ten-banks-saw-strong-earnings-last-year\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/the-kingdoms-top-ten-banks-saw-strong-earnings-last-year\/&title=The Kingdom\u2019s top ten banks saw strong earnings last year\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Kingdom%E2%80%99s+top+ten+banks+saw+strong+earnings+last+year+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F19%2Fthe-kingdoms-top-ten-banks-saw-strong-earnings-last-year%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/the-kingdoms-top-ten-banks-saw-strong-earnings-last-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1577.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84508\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/the-kingdoms-top-ten-banks-saw-strong-earnings-last-year\/1577-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1577.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1577.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1577.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1577.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84507\" class=\"content-area-description single-story post-84507 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-alvarez-marsal tag-banking tag-enterpriseam-ksa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.08b9855a-f89c-4791-b7eb-c6ab3a091355.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Kingdom\u2019s top ten banks saw robust earnings last year on the back of a <\/strong><strong>3.1% <\/strong><strong>increase in net interest margin<\/strong>, according to global consulting firm <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/1576.pdf\" style=\"\" rel=\"noopener\">Alvarez & Marsal\u2019s (A&M) Saudi Arabia Banking Pulse report (pdf)<\/a>. The increase was supported by strong demand for credit coupled with operational gains, better lending margins. and high interest rates, it said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How it works: <\/strong>A&M\u2019s Banking Pulse analyzes data from the top ten locally listed banks, and compares their financial performance on a yearly basis. It looks at their size, liquidity, income, operating efficiency, risk, and capital. The banks include Saudi National Bank (SNB), Al Rajhi Bank, Riyad Bank among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Diving in: <\/strong>Aggregate net income by the leading banks rose 11.8% y-o-y to SAR 70.1 bn on the back of a higher operating income and lower impairments. Operating income grew 9.5% last year, albeit slower than the 15.4% growth a year earlier, the report showed. Impairments were slightly down 1.1% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Deposits made by government-related entities hit a record high in 2023<\/strong>, accounting for 31.2% y-o-y of total bank deposits in 2023 from 28.4% a year earlier. This helped boost money supply and helped local banks navigate the liquidity crunch. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>\u201cMoving forward, we expect a positive outlook for KSA banks with prospective loan growth, improving asset quality and well capitalized books. Given the upcoming scenario of interest rate cuts by the second half of 2024, we anticipate that NIMs will remain stable at around 3% during the year,\u201d Asad Ahmed, Managing Director and Head of Middle East Financial Services at A&M said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alvarez-marsal\/\">Alvarez &amp; Marsal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/banking\/\">BANKING<\/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=\"84509\" 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=\"84509\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/dairy-giant-almarai-to-invest-sar-18-bn-under-five-year-strategic-plan\/\">\r\n                            Saudi dairy giant Almarai to invest SAR 18 bn under five-year plan to maximize sales                        <\/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\/19\/dairy-giant-almarai-to-invest-sar-18-bn-under-five-year-strategic-plan\/\" 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\/19\/dairy-giant-almarai-to-invest-sar-18-bn-under-five-year-strategic-plan\/')\">\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\/19\/dairy-giant-almarai-to-invest-sar-18-bn-under-five-year-strategic-plan\/\">\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=Dairy giant Almarai to invest SAR 18 bn under five-year strategic plan&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/dairy-giant-almarai-to-invest-sar-18-bn-under-five-year-strategic-plan\/\">\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\/19\/dairy-giant-almarai-to-invest-sar-18-bn-under-five-year-strategic-plan\/&title=Dairy giant Almarai to invest SAR 18 bn under five-year strategic plan\">\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=Dairy+giant+Almarai+to+invest+SAR+18+bn+under+five-year+strategic+plan+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F19%2Fdairy-giant-almarai-to-invest-sar-18-bn-under-five-year-strategic-plan%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\/19\/dairy-giant-almarai-to-invest-sar-18-bn-under-five-year-strategic-plan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84510\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/dairy-giant-almarai-to-invest-sar-18-bn-under-five-year-strategic-plan\/1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84509\" class=\"content-area-description single-story post-84509 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-almarai tag-enterpriseam-ksa tag-investment-watch tag-public-investment-fund-pif tag-savola-group 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\/.fb2f36b7-86ce-4786-9788-a11428452c16.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Almarai to invest SAR 18 bn <\/strong><strong>through 2028 as part of strategic plan: <\/strong>Dairy giant Almarai plans to spend SAR 18 bn over the next five years as part of a strategic plan aimed at maximizing sales, 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-oyMjIwkA_ODVPvyA3NMIgMyA3XNdREQC2bcqP\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc3Ni9jb21wYW55U3ltYm9sLzIyODAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. It plans to ramp up investment in supply chain, development, sustainability, operational efficiency, and technology. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ironing out the details: <\/strong>The strategy sees investments of SAR 7 bn for poultry expansion, SAR 5 bn for existing dairy, juice and bakery segments, and SAR 1 bn for new food segments. Some SAR 3 bn will be allocated to develop supply chain and sales capabilities to back expansions here and regionally. It also plans to invest SAR 1 bn to help expedite technology development. The company will finance the investment from its own cashflows, it said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been eventful for Almarai:<\/strong> Savola Group \u2014 Almarai\u2019s biggest shareholder \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/72a0a6a6-ac0b-4ef8-96af-4a6472215804\/savola-looks-to-offload-almarai,-raise-sar-6-bn-in-fresh-capital-to-focus-on-fresh-growth\" style=\"\" rel=\"noopener\">said in<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/72a0a6a6-ac0b-4ef8-96af-4a6472215804\/savola-looks-to-offload-almarai,-raise-sar-6-bn-in-fresh-capital-to-focus-on-fresh-growth\" style=\"\" rel=\"noopener\">February<\/a> that it plans to offload its full 34.5% stake in the dairy producer, which is MENA\u2019s largest dairy outfit, to its existing shareholders.The Public Investment Fund (PIF) is Almarai\u2019s second biggest shareholder with a 16% stake through one of its units.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/almarai\/\">Almarai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/savola-group\/\">Savola Group<\/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=\"84511\" 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=\"84511\">\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\">SAUDIZATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/foreign-investors-to-be-classified-as-saudis-in-saudization-rates\/\">\r\n                            Foreign investors to be classified as Saudis in Saudization rates                        <\/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\/19\/foreign-investors-to-be-classified-as-saudis-in-saudization-rates\/\" 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\/19\/foreign-investors-to-be-classified-as-saudis-in-saudization-rates\/')\">\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\/19\/foreign-investors-to-be-classified-as-saudis-in-saudization-rates\/\">\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=Foreign investors to be classified as Saudis in Saudization rates&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/foreign-investors-to-be-classified-as-saudis-in-saudization-rates\/\">\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\/19\/foreign-investors-to-be-classified-as-saudis-in-saudization-rates\/&title=Foreign investors to be classified as Saudis in Saudization rates\">\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=Foreign+investors+to+be+classified+as+Saudis+in+Saudization+rates+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F19%2Fforeign-investors-to-be-classified-as-saudis-in-saudization-rates%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\/19\/foreign-investors-to-be-classified-as-saudis-in-saudization-rates\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1610.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84512\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/foreign-investors-to-be-classified-as-saudis-in-saudization-rates\/1610-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1610.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1610.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1610.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1610.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84511\" class=\"content-area-description single-story post-84511 post type-post status-publish format-standard has-post-thumbnail hentry category-saudization tag-enterpriseam-ksa tag-foreign-direct-investment tag-human-resources-and-social-development-ministry tag-nitaqat-mutawar-program tag-saudization 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\/.3e86c2c4-93b7-4ffb-b2ad-926d18ed9a93.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Blending foreign investors in:<\/strong>Foreign investors are set to be classified as Saudis under the government\u2019s Saudization program, <a target=\"_blank\" href=\"https:\/\/www.okaz.com.sa\/economy\/na\/2157654\" style=\"\" rel=\"noopener\">Okaz<\/a> reported. The scheme was approved by the Human Resources and Social Development Ministry\u2019s Qiwa platform, which aims to facilitate setting up and operating businesses here.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SMART POLICY- <\/strong>When implemented, foreign business owners would be labeled as Saudis when calculating Saudization rates in firms. This would allow for relaxed Saudization requirements in leadership roles held by non-Saudis. Saudization has been gaining momentum lately across various sectors with targets for engineering and transport-related jobs recently introduced. The government hopes its Saudization quotas applied through several industries would boost local employment to 70% by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other exceptions: <\/strong>The platform also classified children of Saudi women married to non-Saudis under the Saudization program. Non-Saudi mothers of citizens and non-Saudi widows whose husbands were Saudi will also be counted, as well Gulf nationals and athletes or players. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Watch this space: <\/strong>Some nationalities, including Palestinians holding Egyptian passports and members of the indigenous Baloch community and Southeast Asian ethnic group Bamar, will be calculated at a lower proportion when measuring Saudization rates.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In perspective:<\/strong> Hiring four Palestinians would be equal to one Saudi provided that the Palestians do not account for over 50% of the total workforce, according to Okaz. A similar classification would be applied on workers from Bamar across the Kingdom except for Makkah and Madinah.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s part of a steady drive to attract skilled foreign residents to the Kingdom<\/strong> after officials unveiled <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9253d901-ff90-46d0-915f-e37c2d9652fe\/everything-you-need-to-know-about-the-premium-residency-scheme\" style=\"\" rel=\"noopener\">earlier this year<\/a> its new special talent residency program for priority sectors including healthcare, digital technologies, financial services, advanced manufacturing, energy, mining, logistics, tourism infrastructure and others. A hunt for talent has pushed the government to <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\">recently reconsider<\/a> monthly fees applied since 2017 for the dependents of expats. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/foreign-direct-investment\/\">foreign direct investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/human-resources-and-social-development-ministry\/\">Human Resources and Social Development Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nitaqat-mutawar-program\/\">Nitaqat Mutawar Program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudization\/\">Saudization<\/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=\"84513\" 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=\"84513\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/saic-has-sar-500-mn-to-invest-in-listed-equities\/\">\r\n                            Saic has SAR 500 mn to invest in Tadawul-listed equities                        <\/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\/19\/saic-has-sar-500-mn-to-invest-in-listed-equities\/\" 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\/19\/saic-has-sar-500-mn-to-invest-in-listed-equities\/')\">\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\/19\/saic-has-sar-500-mn-to-invest-in-listed-equities\/\">\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=Saic has SAR 500 mn to invest in listed equities&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/saic-has-sar-500-mn-to-invest-in-listed-equities\/\">\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\/19\/saic-has-sar-500-mn-to-invest-in-listed-equities\/&title=Saic has SAR 500 mn to invest in listed equities\">\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=Saic+has+SAR+500+mn+to+invest+in+listed+equities+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F19%2Fsaic-has-sar-500-mn-to-invest-in-listed-equities%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\/19\/saic-has-sar-500-mn-to-invest-in-listed-equities\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1628.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84514\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/saic-has-sar-500-mn-to-invest-in-listed-equities\/1628-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1628.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1628.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1628.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1628.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84513\" class=\"content-area-description single-story post-84513 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-academy-of-learning tag-canadian-medical-center tag-enterpriseam-ksa tag-investment-watch tag-nomu tag-obeikan-glass tag-saudi-advanced-industries-saic 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\/.d20fc54d-1720-4473-8dd5-af145b545414.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nomu-listed Saudi Advanced Industries (SAIC) is <\/strong><strong>looking to boost its equity <\/strong><strong>investments in the capital market by<\/strong><strong> additional SAR 500 mn<\/strong>, Managing Director and CEO Abdullah Bin Sulaiman Al-Jarish told Al-Arabiya in an interview (<a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/03\/17\/-%D9%85%D8%AA%D8%B7%D9%88%D8%B1%D8%A9-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%B3%D9%86%D8%B6%D8%AE-500-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%B1%D9%8A%D8%A7%D9%84-%D9%84%D9%85%D8%AD%D9%81%D8%B8%D8%AA%D9%86%D8%A7-%D8%A8%D8%A7%D9%84%D8%A3%D8%B3%D9%87%D9%85-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%A7%D9%84%D8%A8%D8%A7%D9%84%D8%BA%D8%A9-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%B1%D9%8A%D8%A7%D9%84\" style=\"\" rel=\"noopener\">watch: runtime: 8:51<\/a>). The investment firm currently has a SAR 1 portfolio of equity assets in Tadawul-listed companies, and is actively looking at an extra 50 potential investments in the bourse. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Recent exits: <\/strong>Saic has fully divested from the petrochemicals sector including a lucrative exit from Yansab National Petrochemical, as it looks to shift away from product-based companies towards growth-oriented ones, Al-Jarish added. It has also exited telecoms giant Mobily and Saudi Cement in 2023\u2014 at a loss. <strong>The company is currently more interested in media, entertainment, healthcare, financial services, and banking sectors.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Recent share buys: <\/strong>The investment company and its subsidiary have <a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/62cd5077-8b7c-461f-97f3-f7898507dac3\" style=\"\" rel=\"noopener\">acquired 567k shares<\/a><a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/62cd5077-8b7c-461f-97f3-f7898507dac3\" style=\"\" rel=\"noopener\">in Nomu-listed Baladi Poultry<\/a> for SAR 72 mn at SAR 126.7 apiece. Saic has also acquired stakes in Nomu-listed Academy of Learning and Canadian Medical Center, which should soon be moving to the main market, said Al-Jarish.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Returns to shareholders: <\/strong>SAIC is set to distribute 2.5% of its 12 mn shares in subsidiary Obeikan Glass to its shareholders, he added. This is in a bid to maximize its shareholder returns and ultimately meet the liquidity requirements for transitioning to main market Tadawul.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>2023 results in a snapshot:<\/strong> The company\u2019s net income rose 48.5% y-o-y to SAR 148.8 mn in 2023, and revenues were up 55.2% y-o-y to SAR 180.2 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-oyMjQyEA_ODVPvyA3NMIgMyA3XNdREQAIO3Zd\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODczNy9jb21wYW55U3ltYm9sLzIxMjAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The company\u2019s BoD recommended a dividend payout of SAR 44.3 mn for 2023 at SAR 0.75 per share, 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\/lU_RUsIwEPwWPsDJAZLWx2i11CnQUhDoixPSEzpDm06aovj1NpQZBMXBzD3cXvZ290hM5iTO-TZdcZ3KnG9qvIjpa49R6PRtGEF_8gAUIpdOJ3bb6VAyOyXYA5dCOGThqGP1wH0BEv9rH6KgB-FTMOj6MAYX6HX7cOGxK_zjU8qI3Vl1gud71_NZ16bWOeGXE89Mft6wJ_wRMsJ8f4l1MarXJjOFpayUQDJeoWZ5LqtcYIa59tNSO1xzEgou1ujjFjcBXyGJjDVPtmkpVWlYZGEmJQotlVN4yQHvsqXcNH2hZFIJPdkV2Ay0rKUPfVGLRulnjdrQCHEl1keu-R9W2RKVsySLWzN6UzI7CnCTWpjM3wzwQ0d7oQYnNTtAlUqTrsim0zmk3o39_tjN7NNirdYXYXkoEw!!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzIxMjAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4NzM5\/\" style=\"\" rel=\"noopener\">separate disclosure<\/a>. The distribution date is yet to be announced. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/academy-of-learning\/\">Academy of Learning<\/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\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nomu\/\">Nomu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/obeikan-glass\/\">Obeikan Glass<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-advanced-industries-saic\/\">Saudi Advanced Industries (saic)<\/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=\"84515\" 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=\"84515\">\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\">ENTERPRISE EXPLAINS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/an-in-depth-look-at-the-kingdoms-ev-ambitions\/\">\r\n                            An in-depth look at Saudi Arabia\u2019s EV ambitions                        <\/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\/19\/an-in-depth-look-at-the-kingdoms-ev-ambitions\/\" 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\/19\/an-in-depth-look-at-the-kingdoms-ev-ambitions\/')\">\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\/19\/an-in-depth-look-at-the-kingdoms-ev-ambitions\/\">\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=An in-depth look at the Kingdom\u2019s EV ambitions&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/an-in-depth-look-at-the-kingdoms-ev-ambitions\/\">\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\/19\/an-in-depth-look-at-the-kingdoms-ev-ambitions\/&title=An in-depth look at the Kingdom\u2019s EV ambitions\">\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=An+in-depth+look+at+the+Kingdom%E2%80%99s+EV+ambitions+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F19%2Fan-in-depth-look-at-the-kingdoms-ev-ambitions%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\/19\/an-in-depth-look-at-the-kingdoms-ev-ambitions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1613.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84516\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/an-in-depth-look-at-the-kingdoms-ev-ambitions\/1613-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1613.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1613.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1613.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1613.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84515\" class=\"content-area-description single-story post-84515 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-explains tag-ceer tag-enterprise-explains tag-enterpriseam-ksa tag-evs tag-lucid tag-pif 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\/.eb9ba550-21fa-4ebf-b548-3f929a0c4040.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Kingdom is investing heavily in green mobility \u2014 with no sign of <\/strong><strong>a slow<\/strong><strong>down: <\/strong>Sustainable transport has a buzzword in Saudi Arabia over the past couple of years, with the Public Investment Fund (PIF) lining up funds toward decarbonizing the mobility sector through establishment of the inaugural <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/cf85c875-6540-4e80-b33d-b60825276545\/ceer-awards-construction-contract-for-ev-complex-%2B-establishes-a-timeline-to-launch\" style=\"\" rel=\"noopener\">national electric vehicle brand<\/a> Ceer, and investments in US-headquartered <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/366185a1-c8a6-4015-84d4-78d3bc757b7c\/ceer-awards-sar-5-bn-contract-for-ev-production-facility\" style=\"\" rel=\"noopener\">Lucid Motors<\/a>, and Aston Martin, to name a few.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US interest in EVs may be coming down from its covid-era high<\/strong>, but the PIF is long-EVs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The masterplan: <\/strong>The Kingdom has set a target to minimize its carbon footprint and source 50% of its electricity from renewable sources, in part to help fuel the growth of its domestic electric vehicle industry. During COP27, Saudi Arabia joined the <a target=\"_blank\" href=\"https:\/\/acceleratingtozero.org\/expanding-the-zev-declaration-to-new-regions-and-partners\/\" style=\"\" rel=\"noopener\">Accelerating to Zero Coalition<\/a>, committing to net-zero new car and van sales by 2040. The fund also set a target to produce <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/riyadhs-multi-billion-ev-dream-risks-crashing-into-reality-2024-01-23\/#:~:text=The%20Public%20Investment%20Fund%20(PIF,target%20of%20150%2C000%20in%202026.\" style=\"\" rel=\"noopener\">500k EVs annually<\/a> by 2030, up from a target of 150k in 2026. <strong>Riyadh wants to have EVs comprise <\/strong><strong><a target=\"_blank\" href=\"https:\/\/themedialine.org\/life-lines\/saudi-arabia-cruises-toward-becoming-global-player-in-ev-market\/#:~:text=In%202021%2C%20Saudi%20Arabia%20said,car%20sales%20worldwide%20by%202035.\" style=\"\" rel=\"noopener\">a third<\/a>&nbsp;<\/strong><strong>of its cars earlier in 2030. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A spending spree: <\/strong>PIF alongside Taiwanese multinational electronics contract manufacturer Hon Hai Precision Industry Company (better known as Foxconn, the assembler of iPhones) et up Ceer in 2022 and expect to complete works at its USD 96 mn, one mn sqm EV complex in King Abdullah Economic City within two years. The company is expected to contribute USD 8 bn to GDP by 2034 and to be a magnet for more than USD 150 mn in foreign direct investment. Ceer\u2019s EVs are expected to hit the market in 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All part of the Kingdom\u2019s diversification strategy:<\/strong> Lucid CEO Peter Rawlinson said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/03beac7a-852b-45a6-ab94-e15ec4fe3cb6\/wherein-the-nyt%25e2%2580%2599s-dealbook-unleashes-its-inner-orientalist\" style=\"\" rel=\"noopener\">last<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/03beac7a-852b-45a6-ab94-e15ec4fe3cb6\/wherein-the-nyt%25e2%2580%2599s-dealbook-unleashes-its-inner-orientalist\" style=\"\" rel=\"noopener\">month<\/a> that the company is \u201ccrucial\u201d to Saudi as one of the cornerstones of the Kingdom\u2019s economic diversification program. \u201cWe\u2019re in this together for the long run. Nobody wants this more than Saudi Arabia. \u2026 This is like a marriage.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Building big things takes time: <\/strong>Lucid saw its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/45addd05-96d8-4b06-8fef-e0c7a2644485\/lucid-remains-in-the-red-in-2023.-plus:-results-from-qassim-cement,-thob-al-aseel\" style=\"\" rel=\"noopener\">net loss for 2023<\/a> come in at USD 2.8 bn, more than double the USD 1.3 bn it lost the year before. Revenues dipped 2% y-o-y to USD 595 mn in 2023. For the fourth quarter, the automaker\u2019s losses came in at USD 654 mn, against USD 473 mn in the comparable period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An EV-focused investment arm: <\/strong>The PIF, in October 2023, established a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/8c166d36-61f3-4cb4-8ea9-20c64c527bb7\/pif-solidifies-backing-for-ksa%25e2%2580%2599s-ev-sector-with-new-investment-company-tasaru-mobility-investments\" style=\"\" rel=\"noopener\">new investment<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/8c166d36-61f3-4cb4-8ea9-20c64c527bb7\/pif-solidifies-backing-for-ksa%25e2%2580%2599s-ev-sector-with-new-investment-company-tasaru-mobility-investments\" style=\"\" rel=\"noopener\">company<\/a> focused on EVs dubbed Tasaru Mobility Investments in a bid to strengthen the local supply chain for electric and autonomous vehicles. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Breaking ground on some milestones: <\/strong>The Saudi National Automobiles Manufacturing Company (SNAM) signed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9d2a6a42-4817-4a10-b74c-385820eb6d5b\/korean-automaker-kg-mobility-to-start-manufacturing-torres-ev-in-kingdom\" style=\"\" rel=\"noopener\">partnership agreement<\/a> last year with South Korean automaker KGM Mobility \u2014 formerly known as SsangYong Motor \u2014 to manufacture KGM\u2019s all-electric Torres EVX SUV here at home. Meanwhile, Lucid <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f1a7c6c9-3230-4826-bf42-f40bb8dd47a6\/pif-backed-us-automaker%253cmark%253e-lucid-%253c%2Fmark%253eopens-up-its-first-international-ev-plant-in-ksa\" style=\"\" rel=\"noopener\">inaugurated<\/a> in September 2023 its first overseas production facility in King Abdullah Economic City with a plan to produce 155k EVs yearly in the Kingdom once it hits full capacity here next year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Charging stations: <\/strong>The Kingdom established the Electric Vehicle Infrastructure Company (EVIQ) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2db29355-7532-4e33-a2c8-668568d738ad\/saudi-arabia-expands-fast-charging-infrastructure-presence-with-the-launch-of-electric-vehicle-infrastructure-company\" style=\"\" rel=\"noopener\">in October 2023<\/a> to expand fast-charging infrastructure across the kingdom, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/47ebc1d5-9d07-4b56-8156-b061d4e7f41e\/updates-on-evs-and-smart-cities-from-the-uae-and-saudi-arabia\" style=\"\" rel=\"noopener\">opened<\/a> its first fast EV charging stations in Riyadh in January 2024. The company aims to set up over 5k fast chargers in over 1k locations in cities across KSA and unrolled the kingdom\u2019s first testing and software center for EVs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>PIF is also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9d2a6a42-4817-4a10-b74c-385820eb6d5b\/korean-automaker-kg-mobility-to-start-manufacturing-torres-ev-in-kingdom\" style=\"\" rel=\"noopener\">eyeing a USD 250 mn stake<\/a> in Chinese electric car manufacturer Human Horizons. The agreement was expected to be hammered out last year, with whispers of PIF\u2019s intention to buy into the Shanghai-based firm at a USD 3 bn valuation.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ceer\/\">Ceer<\/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\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/lucid\/\">Lucid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pif\/\">PIF<\/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=\"84517\" 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=\"84517\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/will-flood-of-earnings-reports-never-end\/\">\r\n                            Tadawul\u2019s FY 2023 earnings season shows no sign of ending                        <\/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\/19\/will-flood-of-earnings-reports-never-end\/\" 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\/19\/will-flood-of-earnings-reports-never-end\/')\">\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\/19\/will-flood-of-earnings-reports-never-end\/\">\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=Will flood of earnings reports never end?&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/will-flood-of-earnings-reports-never-end\/\">\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\/19\/will-flood-of-earnings-reports-never-end\/&title=Will flood of earnings reports never end?\">\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=Will+flood+of+earnings+reports+never+end%3F+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F19%2Fwill-flood-of-earnings-reports-never-end%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\/19\/will-flood-of-earnings-reports-never-end\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84517\" class=\"content-area-description single-story post-84517 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings-watch tag-enterpriseam-ksa tag-financial-services tag-healthcare tag-mining tag-oil-gas 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\/.b42ef813-2f43-4de2-9f0d-b334c5d99f53.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Earnings news from mining, healthcare, and ins. sectors.<\/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\">NAHDI-<\/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.nahdi.sa\/\" style=\"\" rel=\"noopener\">Nahdi Medical<\/a><\/strong><strong>\u2019s net income remained basically unchanged, inching up 0.5% <\/strong><strong>y-o-y<\/strong><strong> to SAR <\/strong><strong>892.6 mn in 2023<\/strong>, while revenues inched up 1% y-o-y to SAR 8.7 bn, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/1551.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company\u2019s BoD decided to distribute SAR 390 mn in dividends for 2H 2023 at SAR 3 per share, 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-oyMTQzES_IDc0wiAzIDfcUVERAFDyyZs!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc2MS9jb21wYW55U3ltYm9sLzQxNjQvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Eligible shareholders can cash out on Tuesday, 2 April.<\/p>\n<hr style=\"page-break-before:always;display:none;\">\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 DRILLING-<\/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.arabdrill.com\/\" style=\"\" rel=\"noopener\">Arabian Drilling<\/a><\/strong><strong>\u2019s net income increased 8% y-o-y to SAR 605 mn in 2023<\/strong>, and revenues were up 29% y-o-y to a record high of SAR 3.5 bn on the back of higher rig activity and improved utilization rate, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/1543.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company\u2019s BoD approved a dividend payout of SAR 225 mn for 2H 2023 at SAR 2.53 per share to be distributed on Tuesday, 2 April, 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-oyMjYwlA_ODVPvyA3NMIgMyA3XNdREQAR4P8F\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc3MC9jb21wYW55U3ltYm9sLzIzODEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" 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\">ENAYA-<\/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.saudienaya.com\/\" style=\"\" rel=\"noopener\">Saudi Enaya Cooperative Ins.<\/a><\/strong><strong> turned into the black with a net income of SAR 20 mn in <\/strong><strong>2023, after accumulating net losses worth SAR 6 mn in the previous year<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMLY0FC_IDc0wiAzIDfcUVERABXe05Y!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc3NC9jb21wYW55U3ltYm9sLzgzMTEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Meanwhile, revenues were up 10.6% y-o-y to SAR 251 mn in 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SARCO-<\/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.almasafi.com.sa\/\" style=\"\" rel=\"noopener\">Saudi Arabia Refineries<\/a><\/strong><strong>\u2019 net income fell 73% y-o-y to SAR 7.7 mn in 2023<\/strong>, and revenues were down 54.6% y-o-y to SAR 15.6 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-oyMjA2EA_ODVPvyA3NMIgMyA3XNdREQAWgPPv\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc3Mi9jb21wYW55U3ltYm9sLzIwMzAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The refinery company attributed fall in revenues to higher dividend payouts which amounted to SAR 15 mn last year.<\/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\">CHUBB-<\/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=\"https:\/\/www.chubb.com\/sa\" style=\"\" rel=\"noopener\">CHUBB Arabia Cooperative Ins.<\/a><\/strong><strong> increased 2x y-o-y to SAR 24.8 mn in <\/strong><strong>2023,<\/strong> and revenues were up 10% y-o-y to SAR 329 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-oyMLIxEC_IDc0wiAzIDfcUVERAHkQM5Y!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc2Mi9jb21wYW55U3ltYm9sLzgyNDAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" 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\">UNITED MINING-<\/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.ugc.com.sa\/\" style=\"\" rel=\"noopener\">United Mining Industries<\/a><\/strong><strong>\u2019 net income increased 12% y-o-y to SAR 35.8 mn in 2023<\/strong>, while revenues dipped 0.6% y-o-y to SAR 240 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\/ldBNC4JAEAbgX-MxdtL86raSbomhJqLtJdYKE9xdD1b471vqJNjX3AaeF94ZRFGJqGC3pmZ9IwVr1b6n1sHEFuhrB-IYuzakQeiRTYQNP12gYgxIoPsKuF668skciI3oX3nIElOBZGtEsAMC1m95eDMYvufpmExcMAYTFZ_gQ4cQ0bqV1eufl77vlhpo0LMTu19bTXU8St4xMWQDr6RCrukYKDsL1PE8L6FJeDHDDxHqL7U!\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc2NC9jb21wYW55U3ltYm9sLzk1ODMvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The company\u2019s BoD decided to distribute SAR 9.8 mn in dividends for 2H 2023 at SAR 0.7 per share, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/ldBNC4JAEAbgX-MxdtL86raSbomhJqLtJdYKE9xdD1b471vqJNjX3AaeF94ZRFGJqGC3pmZ9IwVr1b6n1sHEFuhrB-IYuzakQeiRTYQNP12gYgxIoPsKuF668skciI3oX3nIElOBZGtEsAMC1m95eDMYvufpmExcMAYTFZ_gQ4cQ0bqV1eufl77vlhpo0LMTu19bTXU8St4xMWQDr6RCrukYKDsL1PE8L6FJeDHDDxHqL7U!\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc2NS9jb21wYW55U3ltYm9sLzk1ODMvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">separate disclosure<\/a>. Eligible shareholders can cash out starting Monday, 1 April. <\/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\">SIIG-<\/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.siig.com.sa\/\" style=\"\" rel=\"noopener\">Saudi Industrial Investment Group<\/a><\/strong><strong>\u2019s net income fell 59.6% <\/strong><strong>y-o-y<\/strong><strong> to SAR 112 mn in 2023<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lU_RUsIwEPwWP8DJUYa0PkarpU6BloJAX5yQntAZ2nTSFMWvt6HMICgOZu7h9rK3u0cSMidJwbfZiutMFnzT4EVCX3uMgtV3YAT9yQNQiD06nTgd16JkdkpwBh6FaMiikWX3wHsBkvxrH-KwB9FTOOgGMAYP6HX7cOGxK_yTU8qI3dlNgud7zw9Y16H2OeGXE89Mft6wJ_wRMsZif4l9MarfITOFlayVQDJeoWZFIetCYI6FDrJKu1xzEgku1hjgFjchXyGJjTVPt1klVWVYZGEmFQotlVv66QHv8qXctH2pZFoLPdmV2A60bKQPfdmIxtlngzrQCnEl1keu-R_W-RKVuyQLy4zelMyPAtykFibzNwP80PFeqMVpww5RZdKkK_PpdA6Zf-u8P3Zz57TYzc0XbugZ9Q!!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzIyNTAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4NzYz\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The investment firm said its revenues are not included in its financial statement since it follows the equity method to calculate its investments in joint ventures.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/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\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil-gas\/\">Oil &amp; gas<\/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=\"84518\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15542.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84519\" 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=\"84519\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/tennis-icon-john-mcenroe-doesnt-object-to-pifs-tennis-ambitions-but-he-doesnt-want-an-all-year-season-either\/\">\r\n                            Tennis icon John McEnroe doesn\u2019t object to PIF\u2019s tennis ambitions, but he doesn\u2019t want an all-year season, either                        <\/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\/19\/tennis-icon-john-mcenroe-doesnt-object-to-pifs-tennis-ambitions-but-he-doesnt-want-an-all-year-season-either\/\" 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\/19\/tennis-icon-john-mcenroe-doesnt-object-to-pifs-tennis-ambitions-but-he-doesnt-want-an-all-year-season-either\/')\">\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\/19\/tennis-icon-john-mcenroe-doesnt-object-to-pifs-tennis-ambitions-but-he-doesnt-want-an-all-year-season-either\/\">\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=Tennis icon John McEnroe doesn\u2019t object to PIF\u2019s tennis ambitions, but he doesn\u2019t want an all-year season, either&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/tennis-icon-john-mcenroe-doesnt-object-to-pifs-tennis-ambitions-but-he-doesnt-want-an-all-year-season-either\/\">\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\/19\/tennis-icon-john-mcenroe-doesnt-object-to-pifs-tennis-ambitions-but-he-doesnt-want-an-all-year-season-either\/&title=Tennis icon John McEnroe doesn\u2019t object to PIF\u2019s tennis ambitions, but he doesn\u2019t want an all-year season, either\">\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=Tennis+icon+John+McEnroe+doesn%E2%80%99t+object+to+PIF%E2%80%99s+tennis+ambitions%2C+but+he+doesn%E2%80%99t+want+an+all-year+season%2C+either+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F19%2Ftennis-icon-john-mcenroe-doesnt-object-to-pifs-tennis-ambitions-but-he-doesnt-want-an-all-year-season-either%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\/19\/tennis-icon-john-mcenroe-doesnt-object-to-pifs-tennis-ambitions-but-he-doesnt-want-an-all-year-season-either\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1620.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84520\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/tennis-icon-john-mcenroe-doesnt-object-to-pifs-tennis-ambitions-but-he-doesnt-want-an-all-year-season-either\/1620-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1620.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1620.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1620.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1620.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84519\" class=\"content-area-description single-story post-84519 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-enterpriseam-ksa tag-john-mcenroe tag-public-investment-fund-pif tag-saudi-in-the-news tag-tennis 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\/.cf1fa9e0-e9b8-43a4-8143-bac70f71d857.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It was a mixed bag for the Kingdom in the foreign press yesterday<\/strong>, with tennis great John McEnroe concerned that the Kingdom\u2019s growing footprint in tenniscould translate into a year-round season that would drain players and fans alike, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/tennis\/mcenroe-fears-saudi-masters-move-could-lead-year-round-season-2024-03-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported. \u201cI'm not a big believer in having the tennis circuit go year round. We need an off season. Not only for players to recuperate, but for fans to recuperate. And this is something we've always had difficulty with,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No time to rest: <\/strong>The Public Investment Fund (PIF) is reportedly looking to run a tennis event featuring the world\u2019s best players before the Australian Open in January, a source close to the plans told the newswire <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/tennis\/mens-womens-tennis-tours-advance-talks-merge-commercial-rights-sources-say-2024-03-14\/\" style=\"\" rel=\"noopener\">last week<\/a>. This has sparked concerns that players would have little time for recovery with a limited break at the end of December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/opinions\/2024\/03\/18\/saudi-religious-freedom\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> is out with an opinion piece on an incident that saw a US delegation on religious freedom abruptly ending their visit to Diriyah after their chair, the prominent rabbi Abraham Cooper, was asked to remove his kippah, or head covering.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/john-mcenroe\/\">John McEnroe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tennis\/\">tennis<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84521\" 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=\"84521\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/londons-rezolve-ai-to-set-up-five-ai-ventures-and-center-of-excellence-in-the-kingdom\/\">\r\n                            London\u2019s Rezolve AI to set up five AI ventures and a center of excellence in the Saudi Arabia                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/londons-rezolve-ai-to-set-up-five-ai-ventures-and-center-of-excellence-in-the-kingdom\/\" 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\/19\/londons-rezolve-ai-to-set-up-five-ai-ventures-and-center-of-excellence-in-the-kingdom\/')\">\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\/19\/londons-rezolve-ai-to-set-up-five-ai-ventures-and-center-of-excellence-in-the-kingdom\/\">\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=London\u2019s Rezolve AI to set up five AI ventures and center of excellence in the Kingdom&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/londons-rezolve-ai-to-set-up-five-ai-ventures-and-center-of-excellence-in-the-kingdom\/\">\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\/19\/londons-rezolve-ai-to-set-up-five-ai-ventures-and-center-of-excellence-in-the-kingdom\/&title=London\u2019s Rezolve AI to set up five AI ventures and center of excellence in the Kingdom\">\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=London%E2%80%99s+Rezolve+AI+to+set+up+five+AI+ventures+and+center+of+excellence+in+the+Kingdom+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F19%2Flondons-rezolve-ai-to-set-up-five-ai-ventures-and-center-of-excellence-in-the-kingdom%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\/19\/londons-rezolve-ai-to-set-up-five-ai-ventures-and-center-of-excellence-in-the-kingdom\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1626.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84522\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/londons-rezolve-ai-to-set-up-five-ai-ventures-and-center-of-excellence-in-the-kingdom\/1626-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1626.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1626.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1626.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1626.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84521\" class=\"content-area-description single-story post-84521 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-healthcare tag-infrastructure tag-media 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\/.37486e0c-a920-43cf-ab34-fa3c2e8f1b38.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">ARTIFICIAL INTELLIGENCE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>London-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/airezolve\/?originalSubdomain=uk\" style=\"\" rel=\"noopener\">Rezolve AI<\/a><font face=\"Arial\">&nbsp;<\/font><\/strong><strong>will set up an AI center of excellence in the <\/strong><strong>Kingdom <\/strong>after the company inked an agreement with the Investment Ministry, according to a <a target=\"_blank\" href=\"https:\/\/www.globenewswire.com\/news-release\/2024\/03\/18\/2847659\/0\/en\/The-Kingdom-of-Saudi-Arabia-and-Rezolve-AI-Ink-Pioneering-MOU-to-Establish-Global-AI-Market-Leaders.html\" style=\"\" rel=\"noopener\">statement by Rezolve AI<\/a> yesterday. The partnership aims to create at least five AI ventures in various sectors, with the ventures set to be funded and headquartered locally. They will use Rezolve\u2019s advanced AI Large Language Model, known as brainpowa, to help drive innovation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s not all:<\/strong> The Investment Ministry help \u201cfacilitate the participation of leading public and private finance and corporate institutions\u201d to anchor and support Rezolve AI\u2019s upcoming Nasdaq listing, the statement said, without providing further details.<\/p>\n<p class=\"tag-border-left\">PROCUREMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lana Medical has secured a SAR 8 mn contract to restore and furnish the buildings of the<\/strong><strong>Peninsula Shield Forces <\/strong>\u2014 the military arm of the Gulf Cooperation Council \u2014 in Hafar Al-Batin, 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\/lZDLbsIwEEW_pYtsM1NCXt0ZNZgiKpJGiNSbymmNiZTYUTCN-PsauooUKPVu7HNmrgcYFMAU_64kN5VWvLb1Ows-fBLgZBHhek3iELP5ckZfVsRLsilshwCdTxILxLPsOaGPSENg__IxT30LpK_eCt-QYnCfj1cOwb99NkRGfjAERiJegBsZlsBkrcvffRJVepEE1omd6ETnHjt7vTemPTw56GDf967UWtbC_dSNg2PKXh8MFEPyzJ27XJoY_sX7Y21tZp9ark75qSm1HRT7UQi5UNA2m02BVdpsI-OX04cfHIxGDw!!\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc1Ny9jb21wYW55U3ltYm9sLzk1ODcvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>.<\/p>\n<p class=\"tag-border-left\">CONSTRUCTION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Internet of Things for <\/strong><strong>the<\/strong><strong> construction sector:<\/strong> Homegrown construction-tech company Wakecap has signed an agreement with Singapore\u2019s field management software provider Novade Solutions to integrate the latter\u2019s IoT tech into the local construction sector, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/novade-solutions-and-wakecap-announce-strategic-collaboration-to-transform-construction-industry-in-saudi-arabia-yv47kt60\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the first mover: <\/strong>PIF-backed real estate developer Roshan <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7df2bfaa-cbe9-467f-a5c6-5369d023c410\/cenomi-centers-redeems-another-fcy-sukuk.-plus:-news-from-first-mills,-edfapay,-roshn,-and-more\" style=\"\" rel=\"noopener\">signed an agreement<\/a> with the Saudi Federation for Cybersecurity, Programming and Drones to explore technologies to establish smart buildings using network solutions and IoT technologies earlier this week.<\/p>\n<p class=\"tag-border-left\">INFRASTRUCTURE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New shipping service comes to King Abdulaziz Port:<\/strong> Mawani has added a new shipping service, dubbed IMS, to its King Abdulaziz Port in Dammam, according to a statement from the national port authority. The new service will link the port to Kelang (Malaysia), Surabaya (Indonesia), Nhava Sheva (India) and Jebel Ali, offering a capacity of 1.8k standardized containers. VAsi Shipping will operate the route via weekly voyages.<\/p>\n<p class=\"tag-border-left\">PUBLIC RELATIONS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>London and Dubai-based PR<\/strong><strong> firm Katch International has set up shop in Riyadh<\/strong>, opening its first office in the Kingdom last week as it pushes ahead with its expansion in the region, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/katch-international-expands-in-the-middle-east-with-the-opening-of-third-global-office-in-saudi-arabia-jymphbqb\" style=\"\" rel=\"noopener\">company statement<\/a>. The PR firm\u2019s client list includes companies in the hospitality, lifestyle and real estate sectors, among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s no stranger to the Kingdom:<\/strong> Katch has run several campaigns and events in the Kingdom without a physical office, including for Address Jabal Omar Makkah, the Riyadh-hosted Global Restaurant Investment Forum last year and K-pop BTS\u2019s first concert in town.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/media\/\">Media<\/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=\"84523\" 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=\"84523\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/abu-dhabi-wants-to-compete-with-new-york-and-london-for-finance-talent-can-riyadh-do-the-same\/\">\r\n                            Abu Dhabi wants to compete with New York and London for finance talent. Can Riyadh do the same?                        <\/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\/19\/abu-dhabi-wants-to-compete-with-new-york-and-london-for-finance-talent-can-riyadh-do-the-same\/\" 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\/19\/abu-dhabi-wants-to-compete-with-new-york-and-london-for-finance-talent-can-riyadh-do-the-same\/')\">\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\/19\/abu-dhabi-wants-to-compete-with-new-york-and-london-for-finance-talent-can-riyadh-do-the-same\/\">\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=Abu Dhabi wants to compete with New York and London for finance talent. Can Riyadh do the same?&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/abu-dhabi-wants-to-compete-with-new-york-and-london-for-finance-talent-can-riyadh-do-the-same\/\">\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\/19\/abu-dhabi-wants-to-compete-with-new-york-and-london-for-finance-talent-can-riyadh-do-the-same\/&title=Abu Dhabi wants to compete with New York and London for finance talent. Can Riyadh do the same?\">\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=Abu+Dhabi+wants+to+compete+with+New+York+and+London+for+finance+talent.+Can+Riyadh+do+the+same%3F+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F19%2Fabu-dhabi-wants-to-compete-with-new-york-and-london-for-finance-talent-can-riyadh-do-the-same%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\/19\/abu-dhabi-wants-to-compete-with-new-york-and-london-for-finance-talent-can-riyadh-do-the-same\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1643.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84524\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/abu-dhabi-wants-to-compete-with-new-york-and-london-for-finance-talent-can-riyadh-do-the-same\/1643-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1643.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1643.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1643.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1643.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84523\" class=\"content-area-description single-story post-84523 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets tag-planet-finance tag-talent 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\/.53cb1a3b-db73-4a4c-b341-dfd9ca0ab87d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi wants to lure hedge funds and other grand wizards of high finance <\/strong>with a lifestyle program that includes country club memberships and other perks that will eventually make it competitive for talent with New York, London, Hong Kong, and Singapore, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-17\/abu-dhabi-speeds-up-country-club-admissions-to-lure-hedge-funds?srnd=homepage-middle-east&sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch:<\/strong> Easier visas and \u201clifestyle support\u201d will, \u201calong with the city\u2019s no-tax status, sunny weather and a time zone that allows workers to trade across Asian, European and US hours, \u2026 help it continue to lure hedge fund titans from New York, London, Hong Kong and Singapore.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The competition: <\/strong>Dubai, which is less attractive to some right now in part thanks to the fact that \u201cwaiting lists for schools and social clubs in the city run long; reservations at some restaurants can take weeks, and key roads are routinely jammed,\u201d it writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is Saudi competitive? <\/strong>Not yet, but the big obstacle isn\u2019t Riyadh\u2019s crazy commute, and the recently announced premium residency program will be a big shot in the arm. Instead, the primary issue here is at the intersection of perception and regulation. Relatively few finance firms will be willing to relocate money managers to King Abdullah Financial District unless it is made a DFM- or ADGM-style business zone with its own legal and regulatory framework enforced by a standalone regulator and an on-site court and arbitration center.<\/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 solidly in the red this morning<\/strong>, with traders sitting tight ahead of <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/03\/19\/asia-markets-live-updates.html\" style=\"\" rel=\"noopener\">interest<\/a><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/03\/19\/asia-markets-live-updates.html\" style=\"\" rel=\"noopener\">rate decisions later today from Australia<\/a> and after the <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/03\/19\/bank-of-japan-boj-march-2024-policy-decision-mpm-meeting.html\" style=\"\" rel=\"noopener\">Bank of Japan hiked interest rates for the first time in 17 years<\/a>. European and US stock futures all slid overnight, suggesting that key Wall Street and continental benchmarks will follow suit later today.<\/p>\n<p><a target=\"_blank\" id=\"t.c087125087006b91e356062a36cb73c582cb6bf5\" 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\">12,773<\/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: +6.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,607<\/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: +3.6%)<\/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>NomuC<\/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\">27,205<\/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: +10.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-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\">29,091<\/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\">-6.3% (YTD: +16.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,289<\/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: -3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,275<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +5.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,149<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +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>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\">7,723<\/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: -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\">4,983<\/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: +10.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 86.89<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.8%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 1.70<\/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\">+2.9%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,164.30<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 67,561<\/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\">-1.3% (YTD: +142.9%)<\/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 0.1% yesterday <\/strong>on turnover of SAR 11.1 bn. The index is up 6.7% 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>SICO Saudi REIT (+10%), Saudi Industrial Development (+9.9%) and Zamil Industrial (+7.3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Saudi Steel Pipe (-10%), Saudi Paper Manufacturing (-7.6%) and Enaya (-6.5%).<\/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> fell 0.3% yesterday <\/strong>on turnover of SAR 26.2 mn. The index is up 10.9% 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>Mulkia (+16.2%), United Mining (+16%) and AlBabtain Food (+6.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Lana (-6.6%), Watani Steel (-6.2%) and Rawasi (-4.9%)<\/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\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Capital Market Authority (CMA) has approved Bank Aljazira\u2019s request to hike its <\/strong><strong>capital by 25%<\/strong> to SAR 10.3 bn through a bonus issue, it said in a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3511.aspx\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. It will be paid by transferring SAR 2.1 bn from the statutory reserve to the bank\u2019s capital, raising outstanding shares to 1.02 bn shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Thimar Development has submitted an application to the CMA to lower its capital by <\/strong><strong>SAR 185 mn <\/strong>to SAR 65 mn, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/234ws8fr\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Salama Cooperative Ins. BoD has recommended hiking its capital to SAR 300 mn<\/strong>through a rights issue of SAR 100 mn, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc29znre\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The capital increase aims to comply with the Ins. Authority\u2019s minimum capital requirements within a specified timeframe.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- <\/strong><strong>Zoujaj\u2019s BoD has declared a dividend payout of SAR 16.5 mn at SAR 0.5 apiece <\/strong><strong>for 2H <\/strong><strong>2023<\/strong>, the glass maker 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_xQVbWlEQ3WEUjI-IEiPOxgw6DiQwQ3CU-PeOutL46q7tubc3BQIxEEHPGacqk4Lmut8QZ2t7DlojF-eBbw1x4Xf7i8EwaOKkDetnAKPQ1kA4a01xiQE6QP7R44fy8LeefEWCzivwJuId-JJhDITnMnn8wxNJy-VAKnZgFavMU6XHqVLlsWeggXVdm1xKnjNzJwsD30lSeVQQP5M37uZyN1F0T-tTrtVEr0oqLtGlSKQ-ZDVthIgJKItVjFlYrF1lJ22vcQXnEWe6\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODc3MS9jb21wYW55U3ltYm9sLzIxNTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The distribution date was set on 27 May.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/talent\/\">talent<\/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=\"84525\" 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=\"84525\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/largest-arabic-grand-opera-is-coming-to-riyadh-some-recreational-items-will-have-to-be-locally-sourced-as-of-june\/\">\r\n                            Largest Arabic grand opera is coming to Riyadh + some recreational items will have to be locally sourced as of June                        <\/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\/19\/largest-arabic-grand-opera-is-coming-to-riyadh-some-recreational-items-will-have-to-be-locally-sourced-as-of-june\/\" 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\/19\/largest-arabic-grand-opera-is-coming-to-riyadh-some-recreational-items-will-have-to-be-locally-sourced-as-of-june\/')\">\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\/19\/largest-arabic-grand-opera-is-coming-to-riyadh-some-recreational-items-will-have-to-be-locally-sourced-as-of-june\/\">\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=Largest Arabic grand opera is coming to Riyadh + some recreational items will have to be locally sourced as of June&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/largest-arabic-grand-opera-is-coming-to-riyadh-some-recreational-items-will-have-to-be-locally-sourced-as-of-june\/\">\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\/19\/largest-arabic-grand-opera-is-coming-to-riyadh-some-recreational-items-will-have-to-be-locally-sourced-as-of-june\/&title=Largest Arabic grand opera is coming to Riyadh + some recreational items will have to be locally sourced as of June\">\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=Largest+Arabic+grand+opera+is+coming+to+Riyadh+%2B+some+recreational+items+will+have+to+be+locally+sourced+as+of+June+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F19%2Flargest-arabic-grand-opera-is-coming-to-riyadh-some-recreational-items-will-have-to-be-locally-sourced-as-of-june%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\/19\/largest-arabic-grand-opera-is-coming-to-riyadh-some-recreational-items-will-have-to-be-locally-sourced-as-of-june\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1646.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84526\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/19\/largest-arabic-grand-opera-is-coming-to-riyadh-some-recreational-items-will-have-to-be-locally-sourced-as-of-june\/1646-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1646.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1646.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1646.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1646.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84525\" class=\"content-area-description single-story post-84525 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-enterpriseam-ksa tag-entertainment tag-gold tag-on-your-way-out tag-sports 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\/.307157eb-d364-4bf9-baa0-09cf80b37d28.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>The largest-ever Arabic grand opera is taking center stage in Riyadh next month<\/strong> as Zarqa Al Yamama \u2014 also the first Saudi grand opera \u2014 premieres at the King Fahd Cultural Center, <a target=\"_blank\" href=\"https:\/\/saudigazette.com.sa\/article\/641293\/SAUDI-ARABIA\/Riyadh-gears-up-to-premiere-first-grand-Saudi-opera-Zarqa-Al-Yamama-on-April-25\" style=\"\" rel=\"noopener\">Saudi Gazette<\/a> reported. Opening night is Thursday, 25 April, with the production set to run until Sunday, 4 May. The show, which will feature locally trained artists, is based on a pre-Islamic era ancient tale that tells the story of a legendary blue-eyed woman blessed with the gift of foresight. Tickets are not yet on sale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meet the cast: <\/strong>Globally renowned mezzo-soprano Dame Sarah Connolly will be leading the cast as the title role, with Saudi players in key roles including Khayran AlZahrani, Sawsan Albahiti, and Reemaz Oqbi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Gov\u2019t rolls out a list of sports and recreational items that <\/strong><strong>have to be locally sourced <\/strong><strong>starting June: <\/strong>The Local Content and Government Procurement Authority (LCPGA) has added sports and recreational items and supplies to its mandatory list of national products, it said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/local-content-and-government-procurement-authority_aepaesaetaevaesaewaexabraepaesaetaevaesaey-activity-7175430747585978368-rvYe?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">post on Linkedin<\/a> yesterday. Those include playground slides, outdoor swings, trampolines, balance equipment and others, the list showed. Seven local manufacturers are set to benefit from the implementation of the decision, which will be applied <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4262189\/%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D9%85%D8%AD%D8%AA%D9%88%D9%89-%D8%A7%D9%84%D9%85%D8%AD%D9%84%D9%8A-%D8%AA%D8%B5%D8%AF%D8%B1-%D8%A7%D9%84%D9%82%D8%A7%D8%A6%D9%85%D8%A9-%D8%A7%D9%84%D8%A5%D9%84%D8%B2%D8%A7%D9%85%D9%8A%D8%A9-%D9%84%D9%84%D9%85%D8%B9%D8%AF%D8%A7%D8%AA-%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6%D9%8A%D8%A9-%D9%88%D8%A7%D9%84%D8%AA%D8%B1%D9%81%D9%8A%D9%87%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">starting 1 June<\/a>. The LCGPA set SAR 5.8 mn in government spending for the newly added items.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>A <\/strong><strong>Snapchat<\/strong><strong> influencer was arrested for peddling seven fake <\/strong><strong>gold-plated aluminum bars <\/strong><strong>as <\/strong><strong>pure gold yesterday<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2069007\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. The Commerce Ministry seized the seven fake bars after the influencer sold them to a commercial establishment in Al Kharj. The advertiser could face a sentence of up to two years in prison and a SAR 400k fine.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/entertainment\/\">entertainment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gold\/\">Gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/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=\"84527\" 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\/19\/84527\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84527\" class=\"content-area-description single-story post-84527 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;\">10-11 April (Wednesday-Thursday): 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;\">OCTOBER<\/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;\">2-3 October (Saturday-Sunday): Fourth Global Cybersecurity Forum, Riyadh, Saudi Arabia.<\/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 November ( 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\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Top 10 banks look healthy | PIF, PGA tour meet? | Al Nahdi growth plans | EV explainer | Foreign investors count as Saudis | Yaqeen Capital eyes IPO.<\/p>\n","protected":false},"featured_media":84505,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-84504","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"dd642876-aab0-42ad-8c59-b57957dd7d60","teaser":"Top 10 banks look healthy | PIF, PGA tour meet? | Al Nahdi growth plans | EV explainer | Foreign investors count as Saudis | Yaqeen Capital eyes IPO.","photo_url":"https:\/\/ent.news\/2024\/3\/1649.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>\u201cAbandon the fantasy of phasing out oil and gas\u201d \u2013Aramco\u2019s Nasser - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u201cAbandon the fantasy of phasing out oil and gas\u201d \u2013Aramco\u2019s Nasser\" \/>\n<meta property=\"og:description\" content=\"Top 10 banks look healthy | PIF, PGA tour meet? | Al Nahdi growth plans | EV explainer | Foreign investors count as Saudis | Yaqeen Capital eyes IPO.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-14T17:40:40+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1649.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/\",\"name\":\"\u201cAbandon the fantasy of phasing out oil and gas\u201d \u2013Aramco\u2019s Nasser - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1649.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-03-19T00:00:00+00:00\",\"dateModified\":\"2025-12-14T17:40:40+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1649.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1649.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"\u201cAbandon the fantasy of phasing out oil and gas\u201d \u2013Aramco\u2019s Nasser\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"\u201cAbandon the fantasy of phasing out oil and gas\u201d \u2013Aramco\u2019s Nasser - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/","og_locale":"en_US","og_type":"article","og_title":"\u201cAbandon the fantasy of phasing out oil and gas\u201d \u2013Aramco\u2019s Nasser","og_description":"Top 10 banks look healthy | PIF, PGA tour meet? | Al Nahdi growth plans | EV explainer | Foreign investors count as Saudis | Yaqeen Capital eyes IPO.","og_url":"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/","og_site_name":"KSA","article_modified_time":"2025-12-14T17:40:40+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1649.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/","url":"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/","name":"\u201cAbandon the fantasy of phasing out oil and gas\u201d \u2013Aramco\u2019s Nasser - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1649.jpg?fit=%2C&ssl=1","datePublished":"2024-03-19T00:00:00+00:00","dateModified":"2025-12-14T17:40:40+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1649.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1649.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/issues\/abandon-the-fantasy-of-phasing-out-oil-and-gas-aramcos-nasser\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/ksa\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"\u201cAbandon the fantasy of phasing out oil and gas\u201d \u2013Aramco\u2019s Nasser"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/84504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/84504\/revisions"}],"predecessor-version":[{"id":84547,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/84504\/revisions\/84547"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/84505"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=84504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=84504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=84504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}