{"id":84687,"date":"2024-03-25T00:00:00","date_gmt":"2024-03-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=84687"},"modified":"2025-12-14T17:43:26","modified_gmt":"2025-12-14T17:43:26","slug":"efg-hermes-readies-usd-300-mn-saudi-education-fund","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/","title":{"rendered":"EFG Hermes readies USD 300 mn Saudi education fund"},"content":{"rendered":"<section id=\"84689\" 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=\"84689\">\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\/25\/saudi-private-sector-adds-1-1-mn-jobs-in-2023-women-are-now-37-of-the-workforce\/\">\r\n                            Saudi private sector adds 1.1 mn jobs in 2023, women are now 37% of the workforce                        <\/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\/25\/saudi-private-sector-adds-1-1-mn-jobs-in-2023-women-are-now-37-of-the-workforce\/\" 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\/25\/saudi-private-sector-adds-1-1-mn-jobs-in-2023-women-are-now-37-of-the-workforce\/')\">\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\/25\/saudi-private-sector-adds-1-1-mn-jobs-in-2023-women-are-now-37-of-the-workforce\/\">\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=Saudi private sector adds 1.1 mn jobs in 2023, women are now 37% of the workforce&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/saudi-private-sector-adds-1-1-mn-jobs-in-2023-women-are-now-37-of-the-workforce\/\">\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\/25\/saudi-private-sector-adds-1-1-mn-jobs-in-2023-women-are-now-37-of-the-workforce\/&title=Saudi private sector adds 1.1 mn jobs in 2023, women are now 37% of the workforce\">\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=Saudi+private+sector+adds+1.1+mn+jobs+in+2023%2C+women+are+now+37%25+of+the+workforce+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F25%2Fsaudi-private-sector-adds-1-1-mn-jobs-in-2023-women-are-now-37-of-the-workforce%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\/25\/saudi-private-sector-adds-1-1-mn-jobs-in-2023-women-are-now-37-of-the-workforce\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2232.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84690\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/saudi-private-sector-adds-1-1-mn-jobs-in-2023-women-are-now-37-of-the-workforce\/2232-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2232.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2232.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2232.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2232.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84689\" class=\"content-area-description single-story post-84689 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-retail tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.27023a72-e04c-40f7-97c3-7268436c58d6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>We have a reasonably short issue for you this morning, with the big stories of the day being a dive into regional investment bank EFG Hermes\u2019 planned USD 300 mn Saudi education fund as well as a look at new zakat regulations that come into effect next week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong><strong>We\u2019re looking at a strong breeze and plenty of sunshine in Riyadh today<\/strong> as the storm passes. Expect a daytime high of 26\u00b0C and a low overnight of 19\u00b0C. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">It\u2019s more of the same in <strong>Makkah<\/strong>, with a breezy morning and a sunny day, temperatures in the holy city will peak at 33\u00b0C before dropping to 20\u00b0C. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Meanwhile, <strong>Madinah <\/strong>will see some strong winds and hazy sun with a high of 27\u00b0C and a low of 15\u00b0C.<\/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?&nbsp;<\/strong>Maghrib prayers are at 6:07 pm in the capital city, and you\u2019ll have until 4:32 am tomorrow to hydrate and caffeinate ahead of fajr. <\/p>\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- The private sector has created some 1.1 mn jobs<\/strong> in the past 12 moths, with some 11 mn employees now registered \u2014 up 11.5% as of January 2024 compared to the same period last year, reported <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/03\/24\/article_2711656.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a>, citing a source from the National Labor Observatory. Some 700k of the new jobs came in the sectors of construction, transportation, and storage, while 35.7k were in manufacturing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Women now account for 37% of the private-sector labor force<\/strong>, the newspaper adds.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#2- Point of sale transactions were up 11% in January <\/strong>to SAR 53.8 bn by value, according to data from the Saudi Central Bank. Spending on food and beverages accounted for 16% of all transactions by value, followed by restaurants and cafes at 15%. Spending on personal care rose to 12% of total spending. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fastest-growing categories: <\/strong>Spending on utilities (+34%), hotels (+28%), and jewelry (+27%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh accounted for 34% of all spending <\/strong>via point-of-sale machines. <\/p>\n<p class=\"tag-border-left\">HAPPENING TOMORROW- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>IPO WATCH- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/al-mohafaza.com.sa\/\" style=\"\" rel=\"noopener\">Al Mohafaza Education<\/a><\/strong><strong> will ring the bell on Nomu tomorrow<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details\/!ut\/p\/z1\/vVLLdoIwEP0Vu-gyJ8Mbl_SFerCKCAobToRo00JATaWf36hdqMdHu2lWc-fcyZ2ZOzjBU5xwsmELIljFSSFxnJip4ZigdmwYuGNPAT-yPDvyxwp0dRzhBCcZF7V4w7EgOWk-i5Tye1gT9AN3cb1iGV0TnjOeUxntkpw2-6Akqw8q9jATBxC1VB00FVS9hVoFWwvGF1vFospIQXFM-RbVGctxbNjtfGYqGrKt9gzpJs0R0Q0DZYZpE8XKNX1O8eR4ILvvmuC_Ov5AtQxwI8DJ9XlP6iEYGuC_DPuaByNwwfxdPVx4zk39QE4cyz-siyRHimwYbXDIq1UpPQz-uCLJnjz2Uz98Hkmlg013APdu9ScPhr0vl4kjr6Lign4JPP2ns5hsOz_sbuC0LWlO78Hteo5mm9Yp4Yz7x4Qz9u4IV_yry9LWShSG06YZ0zh98uZBlzl33x_9u4M!\/dz\/d5\/L2dBISEvZ0FBIS9nQSEh\/?locale=en\" style=\"\" rel=\"noopener\">statement by Tadawul<\/a> yesterday. Shares will open at SAR 18.00 apiece, with the share price allowed to trade in the \u00b130% band on each of the first three days before being capped at no more than 10% up or down after that before circuit breakers kick in. (All shares on Tadawul are subject to the 10% up-or-down rule.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the IPO:<\/strong> The education provider <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4ec37b25-a833-4fe4-857a-cb1202a37177\/updates-on-nomu-offerings-from-al-modawat-specialized-medical-%2B-al-mohafaza-education\" style=\"\" rel=\"noopener\">has sold 1.6 mn shares<\/a>, good for a 20% stake of the company. The sale was made through a capital increase of an additional 1.3 mn shares, while the remaining 300k will be sold by existing shareholders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds:<\/strong> The majority of the proceeds (81%) would be used to fund the construction of an educational compound in Riyadh. The compound is set to go live in 3Q 2026. Some 18.8% of the proceeds will be distributed to the selling shareholders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Yaqeen Capital quarterbacked the transaction as financial advisor and lead manager, while RSM acted as auditor.<\/p>\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- Saudi will chair the World Trade Organization (WTO)\u2019s Dispute <\/strong><strong>Settlement Body<\/strong>, according to the <a target=\"_blank\" href=\"https:\/\/www.wto.org\/english\/news_e\/pres24_e\/pr957_e.htm\" style=\"\" rel=\"noopener\">WTO\u2019s website<\/a>. Saudi Ambassador to the WTO Saqer Abdullah Almoqbel will lead the panel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SMART POLICY-<\/strong> The DSB has power to set up dispute-resolution panels, refer disputes to arbitration, and adopt arbitration reports. It also oversees the implementation of recommendations and rulings in arbitration reports and ratifies suspension of concessions in case of non-compliance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- For the <\/strong><strong>Anime enthusiasts among you:<\/strong> Saudi-Japanese anime<strong> Future Folktales <\/strong><strong>season 2 <\/strong>will be out this year under a partnership between local media player Manga Productions and Japan\u2019s <a target=\"_blank\" href=\"https:\/\/corp.toei-anim.co.jp\/en\/index.html\" style=\"\" rel=\"noopener\">Toeni Animation<\/a>, <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2481946\/saudi-arabia\" style=\"\" rel=\"noopener\">Arab News reports<\/a>. The new season is filmed in Neom under an agreement between the city and Manga <a target=\"_blank\" href=\"https:\/\/manga.com.sa\/news\/manga-productions-partners-up-with-neom-for-saudi-animation-series-futures-folktales\/\" style=\"\" rel=\"noopener\">in 2020<\/a>. <a target=\"_blank\" href=\"https:\/\/manga.com.sa\/about-us\/\" style=\"\" rel=\"noopener\">Manga<\/a> is owned by Crown Prince Mohammed bin Salman\u2019s <a target=\"_blank\" href=\"https:\/\/misk.org.sa\/en\/\" style=\"\" rel=\"noopener\">Misk Foundation<\/a>. You can see the Saudi and Japanese posters <a target=\"_blank\" href=\"https:\/\/x.com\/manga_prd\/status\/1771461886267052528?s=20\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Toeni<\/strong><strong> Animation is also <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudigazette.com.sa\/article\/641467\/SAUDI-ARABIA\/Worlds-only-Dragon-Ball-theme-park-launched-in-Qiddiya-City\" style=\"\" rel=\"noopener\">partnering up<\/a><\/strong><strong> with <\/strong><strong>Qiddiya<\/strong> to develop <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/f653ebeb-fba1-48df-8a25-558f708ce1c8\/mbc-buys-anghami-stake-%2B-the-latest-for-saudi-in-the-battle-for-ai-supremacy\" style=\"\" rel=\"noopener\">the world\u2019s first Dragon Ball<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/f653ebeb-fba1-48df-8a25-558f708ce1c8\/mbc-buys-anghami-stake-%2B-the-latest-for-saudi-in-the-battle-for-ai-supremacy\" style=\"\" rel=\"noopener\">theme park<\/a> right outside of Riyadh. Qiddiya is a unit of the Public Investment Fund. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Lumi Rental shareholders with stock in lockup for six moths post-IPO can <\/strong><strong>start trading their shares<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1714763\" style=\"\" rel=\"noopener\">Argaam<\/a> reports. Lumi went public on 25 September 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4<\/strong>- <strong>Boosting<\/strong><strong> cybersecurity <\/strong><strong>for IoT<\/strong>: The National Cybersecurity Authority (NCA) has issued <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2147.pdf\" style=\"\" rel=\"noopener\">guidelines (pdf)<\/a> aimed at enhancing cybersecurity for bodies that use internet of things (ioT) here, it said in a statement yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details<\/strong>: The guidelines apply to government and private-sector entities with \u201csensitive infrastructure\u201d as well as to IoT manufacturers, among others. They cover cybersecurity governance, enhancement, resilience, and standards for external parties \/ cloud computing. <\/p>\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- KSA and Tajikistan will face off in the Fifa World Cup Qualifiers tomorrow<\/strong><strong>:&nbsp;<\/strong>The Green Falcons will meet Tajikistani tomorrow in the Dushanbe Central Stadium at 6 pm (Makkah time) as part of the 2026 Fifa World Cup Qualification tournament, <a target=\"_blank\" href=\"https:\/\/www.espn.in\/football\/match\/_\/gameId\/687458\/saudi-arabia-tajikistan\" style=\"\" rel=\"noopener\">ESPN<\/a> reports. The match follows a 1-0 home win against Tajikistani on 21, March. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>The national U-23 football team lost <\/strong><strong>1-0<\/strong><strong> against South Korea on Saturday<\/strong>,<strong>&nbsp;<\/strong>eliminating the home team from the West Asian Football Federation (WAFF) Championship held in Al Ahsa. <strong>Korea will face Australia in the final on Tuesday<\/strong><strong>. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3- A \u201cmysterious\u201d Saudi football club has reportedly offered top Barcelona FC <\/strong><strong>scorer <\/strong><strong>Robert Lewandowskia a EUR 100 mn per season <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/tomsanderson\/2024\/03\/24\/fc-barcelona-star-receives-108-million-a-year-salary-offer-from-saudi-arabia-reports-mundo-deportivo\/?sh=7012da415a40\" style=\"\" rel=\"noopener\">contract<\/a><\/strong>, reports Spanish sports daily <a target=\"_blank\" href=\"https:\/\/www.mundodeportivo.com\/futbol\/fc-barcelona\/20240324\/1002214968\/arabia-enloquece-lewandowski.html\" style=\"\" rel=\"noopener\">Mundo Deportivo<\/a>, citing sources it says are close to the player. The 35-year-old Polish striker has made it clear in an earlier interview that he is not planning on leaving Barca, where he\u2019s under contract until June 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of Barca: <\/strong>Al Hilal might be breaking the bank in their year-old pursuit for Brazilian winger Raphinha, offering up to EUR 100 mn to secure the player\u2019s ink on paper, Spanish outlet <a target=\"_blank\" href=\"https:\/\/www.sport.es\/es\/noticias\/barca\/raphinha-palanca-viene-barca-99709325\" style=\"\" rel=\"noopener\">Sport<\/a> reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f2779873-2225-4256-9eb2-05585e8cae28\/from-sports-to-tourism-and-the-pif,-bloomberg-is-driving-the-conversation-on-saudi-in-the-global-press-this-morning\" style=\"\" rel=\"noopener\">PIF has no plans to boost its three-year budget for the Saudi Pro League<\/a>, as the Kingdom\u2019s football clubs will be shifting gears in the next transfer window \u2014 halting last summer\u2019s spending spree. \u201cTeams in the Kingdom spent USD 875.4 mn bringing in foreign players last summer, according to FIFA. Only English clubs, with a tab of USD 1.98 bn, outspent them during the period,\u201d Bloomberg writes.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s shaping up to be a relatively quiet, holiday-shortened news week.<\/strong> Friday-Monday are off in much of the Western world in observance of the Good Friday and Easter, while Indian markets are closed today as the nation celebrates Holi and markets in Greece are also closed today for Independence Day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Today is deadline day for Donald Trump<\/strong>, who needs to raise a USD 464 mn guarantee in connection with his appeal of a fraud case. His Truth Social network is <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-cash-spac-digital-world-dwac-ce4b055545378ab05d52513ffe2d4d4f\" style=\"\" rel=\"noopener\">set to go public with a Spac<\/a> that his supporters have pumped to the moon, but there\u2019s no vote before Friday and a listing on NYSE would come a bit further down the road.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sam Bankman-Fried will be sentenced on Thursday<\/strong> after his conviction on fraud charges and related charges. And oddly enough: <a target=\"_blank\" href=\"https:\/\/www.businessinsider.com\/sbf-sentencing-ftx-customers-get-money-back-should-it-matter-2024-3\" style=\"\" rel=\"noopener\">FTX customers may still get all of their money back<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE-<\/strong><\/p>\n<ul>\n<li><strong>China is moving to ban Intel and AMD chips<\/strong> in government PCs and servers (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7bf0f79b-dea7-49fa-8253-f678d5acd64a\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/li>\n<li><strong>The AI and clean-tech booms have made electricity a bull market <\/strong>for the first time in decades \u2014 and could \u201cderail the power sector\u2019s journey to net zero.\u201d (<a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/03\/22\/2024\/electricity-bull-market\" style=\"\" rel=\"noopener\">Semafor<\/a>)<\/li>\n<li><strong>US investment funds have pulled nearly USD 14 bn from BlackRock<\/strong> as part of an anti-ESG campaign. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/9306c8f2-530d-45ca-a830-4d26e5a90509\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/li>\n<li><strong>France has raised its terror alert to the highest level <\/strong>in the wake of this weekend\u2019s Isis attack on Moscow. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/france-raises-terror-alert-warning-highest-level-2024-03-24\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<\/ul>\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>You can now replace your car\u2019s license plates online on the Interior Ministry\u2019s <\/strong><strong>e-platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.absher.sa\/portal\/landing.html\" style=\"\" rel=\"noopener\">Absher<\/a><\/strong>, the General Directorate of Traffic said in <a target=\"_blank\" href=\"https:\/\/x.com\/eMoroor\/status\/1771794129372012864?s=20\" style=\"\" rel=\"noopener\">a social media post on X<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Clocks spring forward in the UK this coming Sunday<\/strong>, 31 March. Keep that in mind if you\u2019re planning a trip \/ meeting with a colleague \/ call to your offspring studying over there.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- King Salman and Crown Prince Mohammed bin Salman have donated SAR 150 mn to <\/strong><strong>a <\/strong><strong>national initiative <\/strong>aimed at providing housing for vulnerable families, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2072757\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. The initiative, dubbed Jood Region, covers 17 regions across the Kingdom.<\/p>\n<p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The National Water Company (NWC) invited private firms to participate in the second phase of <\/strong><strong>a program aimed at installing 398k household connections for water and sanitation <\/strong>across the Kingdom, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2072445\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2072445\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. Interested companies have 15 days to submit a letter of interest via email.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers. <\/p>\n\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\/retail\/\">Retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84691\" 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=\"84691\">\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\">COFFEE WITH\u2026<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/a-deep-dive-into-efg-hermes-planned-usd-300-mn-education-fund-for-saudi-arabia\/\">\r\n                            A deep dive into EFG Hermes\u2019 planned USD 300 mn education fund for 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\/25\/a-deep-dive-into-efg-hermes-planned-usd-300-mn-education-fund-for-saudi-arabia\/\" 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\/25\/a-deep-dive-into-efg-hermes-planned-usd-300-mn-education-fund-for-saudi-arabia\/')\">\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\/25\/a-deep-dive-into-efg-hermes-planned-usd-300-mn-education-fund-for-saudi-arabia\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=A deep dive into EFG Hermes\u2019 planned USD 300 mn education fund for Saudi Arabia&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/a-deep-dive-into-efg-hermes-planned-usd-300-mn-education-fund-for-saudi-arabia\/\">\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\/25\/a-deep-dive-into-efg-hermes-planned-usd-300-mn-education-fund-for-saudi-arabia\/&title=A deep dive into EFG Hermes\u2019 planned USD 300 mn education fund for Saudi Arabia\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=A+deep+dive+into+EFG+Hermes%E2%80%99+planned+USD+300+mn+education+fund+for+Saudi+Arabia+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F25%2Fa-deep-dive-into-efg-hermes-planned-usd-300-mn-education-fund-for-saudi-arabia%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\/25\/a-deep-dive-into-efg-hermes-planned-usd-300-mn-education-fund-for-saudi-arabia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2176.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84692\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/a-deep-dive-into-efg-hermes-planned-usd-300-mn-education-fund-for-saudi-arabia\/2176-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2176.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2176.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2176.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2176.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84691\" class=\"content-area-description single-story post-84691 post type-post status-publish format-standard has-post-thumbnail hentry category-coffee-with tag-coffee-with tag-education tag-efg-hermes tag-efg-holding tag-enterpriseam-ksa tag-saudi-education-platform 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\/.229c1c7e-2f65-4fba-aa1a-dd13613bd78c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>EFG Hermes is launching a USD 300 mn education fund in Saudi Arabia this year<\/strong>, aiming to repeat its successful model with the <a target=\"_blank\" href=\"https:\/\/egypteducationplatform.com\/\" style=\"\" rel=\"noopener\">Egypt Education Platform<\/a> (EEP) in Egypt, EFG Hermes Co-CEO Karim Moussa told Enterprise. We recently sat down with Moussa to discuss EFG Hermes\u2019 plans for the fund and why the investment bank decided to move into the Saudi market with its second education fund.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher:<\/strong> Launched in 2019, EEP Is an education management firm that counts EFG Hermes and the Sovereign Fund of Egypt among its anchor investors. EEP is now the largest education platform in Egypt, having raised USD 150 mn from a group of investors primarily in Saudi Arabia, the UAE, and Egypt. Today, EEP has deployed the entirety of the fund and has 23 assets across schools, nurseries, and others. It also owns majority stakes in Egyptian academic content provider <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0037f212-748b-4ed8-bf4e-c261b8d8dc25\" style=\"\" rel=\"noopener\">Selah El Telmeez<\/a> and Option Travel, which offers student transportation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EEP has done well since its launch:<\/strong> In EGP terms, the investment cost was EGP 2.5 bn over the past five years. This academic year, EEP expects to make EGP 3.5 bn of revenues and over EGP 1 bn of EBITDA, Moussa told us. (EGP 1 = SAR 0.08 at this morning\u2019s rate of exchange.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new fund has a pipeline: <\/strong>The new fund \u2014 named the Saudi Education Platform (SEP) \u2014 will be double the size of EEP, Moussa told us. EFG Hermes currently has a pipeline of investments that exceeds the size of that fund, Moussa said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And existing Saudi and Emirati limited partners are in on KSA: <\/strong>\u201cOn the fund level, we\u2019re happy to say that a big chunk of our existing Saudi and Emirati investors are very excited about our thesis and are subscribing,\u201d according to Moussa, who declined to name the fund\u2019s LPs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EFG Hermes expects a first close on the fund during the second half of the year<\/strong>, with the final close expected next year. The investment bank plans to begin deploying capital \u201cvery soon,\u201d probably in 2H 2024, Moussa said. \u201cWe\u2019re already on due diligence with a few potential investments,\u201d Moussa said, but declined to provide names of the target investments. SEP plans to kick off in Jeddah and Riyadh with a combination between new and existing facilities, Moussa told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EEP has a blueprint to follow from Egypt \u2014 with nuances to cater to the Saudi market:<\/strong> At EEP, EFG Hermes created a central team run by a dedicated team, which is a unique model in Egypt. This provides all portfolio schools with central services, including procurement, HR, and IT. The schools are run with just the principals and very slim admin teams, which makes running them very efficient. \u201cThe EEP case study is quite relevant, and with the lessons learned in Egypt, we have several types of models \u2014 sometimes we own the land and real estate 100%, sometimes we enter into partnerships with the family that owns the schools, and other times we lease the land and real estate, or we only enter as a management team,\u201d Moussa said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How the student markets compare:<\/strong> The Egyptian student population is roughly 22 mn students, the lion\u2019s share \u2014 around 90% \u2014 of which attend public schools, with the remainder attending private schools, according to Moussa. Saudi Arabia is the second-largest market in the region with a student population of 6.5 mn, 85% of which attend public schools and roughly 15% attend private schools. That translates to roughly 1 mn students across 8k private schools, Moussa explained. While students attending private schools are primarily expatriates, Saudi nationals are also raising the demand and standards for education, he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In Saudi Arabia, there\u2019s a gap in the middle segment of the educational market:<\/strong> The market currently has international schools on the expensive end of the spectrum, which diplomats\u2019 children typically attend, and the mass market national schools, but in the middle there\u2019s an opportunity to provide high quality education at an attractive price point. \u201cWe feel there is a nice entry point in the Saudi market, in the mid-market where we\u2019re talking about tuition fees in the neighborhood of SAR 40k-60k per year and offer high standard curricula such as IB, with a high quality school,\u201d Moussa said. EFG Hermes also sees an opportunity to replicate its combination between building new schools, investing in schools, and helping existing schools with the firm\u2019s central management philosophy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cA lot of the schools that we see have been built as family businesses, and we feel that <\/strong><strong>there\u2019s a chance for us to enter the market there<\/strong> and provide our management expertise,\u201d Moussa said. There\u2019s an operational element \u2014 EFG Hermes \u201cisn\u2019t just some private equity player entering into the Saudi market. We have very strong operations and a track record that we\u2019d like to replicate,\u201d he told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the market for service providers also has similarities:<\/strong> \u201cWhat\u2019s very interesting is that the top four education companies in Saudi Arabia \u2014 most of which are listed \u2014 control only 10% of the market. The market is highly fragmented, which is similar to what we\u2019ve seen in Egypt, so there\u2019s room for a new entry into the market,\u201d Moussa said. Providing high-quality, high-standard education at affordable prices is an appealing proposition, he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are also lots of similarities between the Egyptian and Saudi curricula<\/strong>, which is where a platform like Selah El Telmeez \u2014 which has also begun going digital \u2014 will come into play to help SEP create a strong curriculum for its assets in Saudi Arabia, Moussa said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi government has been very welcoming of EFG Hermes\u2019 entry into the market:&nbsp;<\/strong>\u201cWe\u2019re spending a lot of time on creating deep Saudi content to run with Saudi management,\u201d Moussa said, stressing the importance of creating a bespoke formula that caters to the local market.<\/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\/coffee-with\/\">COFFEE WITH\u2026<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/efg-holding\/\">EFG Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-education-platform\/\">Saudi Education Platform<\/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=\"84693\" 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=\"84693\">\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\">ENTERPRISE EXPLAINS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/new-zakat-regulations-go-into-effect-next-week-heres-what-you-need-to-know\/\">\r\n                            New zakat regulations go into effect in Saudi Arabia next week                        <\/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\/25\/new-zakat-regulations-go-into-effect-next-week-heres-what-you-need-to-know\/\" 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\/25\/new-zakat-regulations-go-into-effect-next-week-heres-what-you-need-to-know\/')\">\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\/25\/new-zakat-regulations-go-into-effect-next-week-heres-what-you-need-to-know\/\">\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=New zakat regulations go into effect next week \u2014 here\u2019s what you need to know&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/new-zakat-regulations-go-into-effect-next-week-heres-what-you-need-to-know\/\">\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\/25\/new-zakat-regulations-go-into-effect-next-week-heres-what-you-need-to-know\/&title=New zakat regulations go into effect next week \u2014 here\u2019s what you need to know\">\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=New+zakat+regulations+go+into+effect+next+week+%E2%80%94+here%E2%80%99s+what+you+need+to+know+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F25%2Fnew-zakat-regulations-go-into-effect-next-week-heres-what-you-need-to-know%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\/25\/new-zakat-regulations-go-into-effect-next-week-heres-what-you-need-to-know\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2164.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84694\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/new-zakat-regulations-go-into-effect-next-week-heres-what-you-need-to-know\/2164-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2164.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2164.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2164.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2164.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84693\" class=\"content-area-description single-story post-84693 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-explains tag-enterprise-explains tag-enterpriseam-ksa tag-tax-and-customs-authority-zatca tag-zakat 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\/.a6deb490-ddf6-437a-9cb2-a7a17fd6e78b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The <\/strong><strong>new executive bylaws for zakat collections aim to outline who is liable <\/strong><strong>for zakat, who <\/strong><strong>is not, and who is exempt.<\/strong> The <a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/a10d36aa-1dfa-4a11-8051-3e7f92f6c166\" style=\"\" rel=\"noopener\">rules<\/a> (<a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2033.pdf\" style=\"\" rel=\"noopener\">check them out in pdf form here<\/a>) provide details about how to calculate zakat dues for those who are liable, including investors in funds, leaving no room for individual interpretations of what can be deducted from zakat and what can\u2019t be. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rules go into effect <\/strong><strong>on Monday, 1 April 2024<\/strong>, replacing the <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/ar\/RulesRegulations\/Taxes\/Pages\/ZakatRegulations.aspx\" style=\"\" rel=\"noopener\">old rules<\/a>. Public consultations ran <a target=\"_blank\" href=\"https:\/\/istitlaa.ncc.gov.sa\/ar\/Finance\/GAZT\/ZATCAIRZC\/Pages\/default.aspx#!\" style=\"\" rel=\"noopener\">for 30 days<\/a> ending last October. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zakat vs. tax 101: <\/strong>Zakat amounts to 2.5% of the net worth of Saudi and GCC individuals and \/ or business entities with activities in Saudi Arabia at the end of the financial year specified by the law, while income tax applies on non-Saudi and non-GCC business entities operating in the Kingdom. The income tax rate is 20% of net adjusted profits, while withholding tax (WHT) rates ranging between 5% and 20%. Oil and hydrocarbon activities are subject to a tax rate ranging from 50% to 85%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Quick facts:<\/strong> Salaries are not subject to income tax. Also, regional headquarters of multinational companies that relocate to the Kingdom will enjoy a 30-year exemption from income tax and WHT on their administrative and strategic activities based on the new rules rolled out on 15 December 2023. Meanwhile, all other revenue-generating business activities of the RHQ within the Kingdom will be taxed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s new: <\/strong>The key amendments include the enhancement of the minimum threshold for zakat eligibility and the establishment of a maximum threshold, aimed at safeguarding zakat payers\u2019 rights against escalating zakat costs. The amendments clarify the treatment of overdue government receivables, regulatory deposits, and the zakat implications of treasury shares. They also address situations where zakat payers are unable to calculate zakat on investments outside the Kingdom. They also include the option to make amendments to the zakat declaration.\u2019<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are two ways to calculate the minimum threshold for zakat <\/strong>based on the proportionate size of net adjusted profit to net assets plus the difference between adjusted net profit and book net profit (Article 27): <\/p>\n<ul>\n<li><strong>(a) If adjusted net profit is bigger: <\/strong>Zakat base should be calculated as net assets plus the difference between the adjusted net profit and the book net profit;<\/li>\n<li><strong>(b) If adjusted net profit is smaller<\/strong>, then the zakat base accounts for only the adjusted net profit.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The maximum zakat base (Article 28) is determined by looking at the ownership rights <\/strong><strong>and assets listed in the financial statement at the end of the zakat year. <\/strong>This includes considering any changes in the value of these assets throughout the year. Additionally, it involves adding the difference between the adjusted net profit and the book net profit for the year\u2014 or net losses for that matter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A unified zakat notice template:&nbsp;<\/strong>The new bylaws have specified a template for notifying zakat payers of their zakat obligations. This template includes the basis for calculating zakat liabilities, the amount owed, the payment date, and the payer\u2019s right to object to the zakat assessment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investments + assets that aren\u2019t liable for zakat (outside the scope of the zakat base):<\/strong><\/p>\n<ul>\n<li>Investment in facilities within and outside the Kingdom;<\/li>\n<li>Investment in investment funds within the Kingdom;<\/li>\n<li>Net fixed assets and their equivalents;<\/li>\n<li>Intangible assets;<\/li>\n<li>Materials not intended for sale and raw materials;<\/li>\n<li>Investment in direct and indirect financing funds registered with the Authority;<\/li>\n<li>Investments in sukuk and bonds;<\/li>\n<li>Regulatory deposits and their equivalents;<\/li>\n<li>Deferred tax assets: referring to assets whose tax impact has been deferred to future periods.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What can be deducted from the zakat base:<\/strong><\/p>\n<ul>\n<li><strong>Outstanding government debts<\/strong> owed to the zakat payer can be deducted from the zakat base if the zakat payer proves that the delay in receiving payments is to be blamed on the government;<\/li>\n<li><strong>Partner loans payable of non-listed capital companies and individual establishments<\/strong> can be deductible under a number of conditions. Partner loans receivable in non-listed capital companies and individual establishments are accounted for as liabilities in the zakat assessment under certain conditions.<\/li>\n<li><strong>Treasury shares and ESOPs <\/strong>are considered a reduction of ownership rights when calculating the maximum threshold for the zakat base<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What can\u2019t be deducted from the zakat base:<\/strong><\/p>\n<ul>\n<li><strong>Partner loans payable in non-listed companies<\/strong> and of partners that are not liable for Zakat;<\/li>\n<li><strong>Leased assets<\/strong>,<strong> <\/strong>excluding financial leasing companies and construction leasing assets in the form of contracts of build, operate, and transfer (BOT), contracts of build, own, operate, and transfer (BOOT), contracts of build, own, and operate (BOO), and contracts of acquire, operate, and transfer (AOT);<\/li>\n<li><strong>Dividends payouts<\/strong> to shareholders as long as they weren\u2019t deposited in the shareholders\u2019 accounts by the end of the zakat financial year;<\/li>\n<li><strong>Realized and unrealized profits.<\/strong><\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/enterprise-explains\/\">ENTERPRISE EXPLAINS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tax-and-customs-authority-zatca\/\">Tax and Customs Authority (ZATCA)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/zakat\/\">Zakat<\/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=\"84695\" 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=\"84695\">\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\">INFRASTRUCTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/alkhorayef-reaches-financial-close-water-project-serving-makkah-and-madinah\/\">\r\n                            Alkhorayef reaches financial close water project serving Makkah and Madinah                        <\/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\/25\/alkhorayef-reaches-financial-close-water-project-serving-makkah-and-madinah\/\" 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\/25\/alkhorayef-reaches-financial-close-water-project-serving-makkah-and-madinah\/')\">\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\/25\/alkhorayef-reaches-financial-close-water-project-serving-makkah-and-madinah\/\">\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=Alkhorayef reaches financial close water project serving Makkah and Madinah&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/alkhorayef-reaches-financial-close-water-project-serving-makkah-and-madinah\/\">\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\/25\/alkhorayef-reaches-financial-close-water-project-serving-makkah-and-madinah\/&title=Alkhorayef reaches financial close water project serving Makkah and Madinah\">\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=Alkhorayef+reaches+financial+close+water+project+serving+Makkah+and+Madinah+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F25%2Falkhorayef-reaches-financial-close-water-project-serving-makkah-and-madinah%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\/25\/alkhorayef-reaches-financial-close-water-project-serving-makkah-and-madinah\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84695\" class=\"content-area-description single-story post-84695 post type-post status-publish format-standard hentry category-infrastructure tag-infrastructure 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\/.ace5b1ed-cc60-4a1e-a4e3-c14f9f76a2cc.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A consortium led by Alkhorayef Water and Power Technologies has <\/strong><strong>achieved financial close<\/strong> on the Rayis\u2013Rabigh independent water transmission pipeline (IWTP) project, 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-oyMjAwlA_ODVPvyA3NMIgMyA3XNdREQDbrVaq\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODg5Ni9jb21wYW55U3ltYm9sLzIwODEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. <strong>The project is the first of its kind in the Kingdom to be developed on a build-operate-transfer basis.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>The consortium, which includes Spanish infrastructure company Cobra, will spend SAR 2.4 bn to build the infrastructure. The 35-year contract is worth SAR 8.4 bn; Alkhorayef Water holds a 50% stake in the consortium.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The specifics<\/strong><b>:<\/b> The 150 km pipeline will provide drinking water to Makkah and Madinah. Construction is set to last 30 months and the pipeline should be operational by 2Q 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A bidding war: <\/strong>The project was awarded <a target=\"_blank\" href=\"https:\/\/www.saudigulfprojects.com\/2023\/09\/alkhorayef-cobra-consortium-signs-project-agreements-of-rayis-rabigh-iwtp-project\/\" style=\"\" rel=\"noopener\">in September<\/a> last year after a bidding war between 31 companies, including 14 local firms. Some of the <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/projects\/utilities\/saudis-alkhorayef-water-selected-preferred-bidder-for-rayisrabigh-iwtp-project-dlwfo5ep\" style=\"\" rel=\"noopener\">bidders included<\/a>&nbsp;Abu Dhabi\u2019s Taqa as well as Nesma and Ajlan &amp; Bros.<\/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\/infrastructure\/\">infrastructure<\/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=\"84696\" 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=\"84696\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/qomel-plans-to-take-a-14-stake-to-nomu\/\">\r\n                            Medical Supplier Qomel to debut a 14% stake on Nomu                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/qomel-plans-to-take-a-14-stake-to-nomu\/\" 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\/25\/qomel-plans-to-take-a-14-stake-to-nomu\/')\">\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\/25\/qomel-plans-to-take-a-14-stake-to-nomu\/\">\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=Qomel plans to take a 14% stake to Nomu&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/qomel-plans-to-take-a-14-stake-to-nomu\/\">\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\/25\/qomel-plans-to-take-a-14-stake-to-nomu\/&title=Qomel plans to take a 14% stake to Nomu\">\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=Qomel+plans+to+take+a+14%25+stake+to+Nomu+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F25%2Fqomel-plans-to-take-a-14-stake-to-nomu%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\/25\/qomel-plans-to-take-a-14-stake-to-nomu\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/989.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84697\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/qomel-plans-to-take-a-14-stake-to-nomu\/989-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/989.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"989.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/989.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/989.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84696\" class=\"content-area-description single-story post-84696 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-ipo-watch tag-qomel 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\/.c2b48052-eee1-4e16-b825-5abde25a869c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Qomel eyes Nomu debut<\/strong><b>:<\/b> Private healthcare provider <a target=\"_blank\" href=\"https:\/\/www.qomel.com\/about-us\/\" style=\"\" rel=\"noopener\">Qomel<\/a> will offer a14.3% stake on parallel market Nomu, its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2137.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a> showed yesterday. The company will offer 500k new shares to qualified investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The timeline:<\/strong> Qualified Investors will start placing their orders starting Sunday, 21 April until Thursday, 25 April. A final allocation if set for Thursday, 2 May with excess subscription fees, if any, refunded on Thursday, 9 May. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds<\/strong><b>:<\/b> The company will use proceeds from the offering to invest in growth, including a SAR 100 mn pharma manufacturing facility being built by fully owned subsidiary Qomel Factory Co. in Sudair Industrial City. Some USd 2.4 mn in proceeds will go to cover the cost of the IPO. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Qomel<\/strong><b>:<\/b> Established in 2007, Qomel is a Riyadh-based healthcare company specialized in pharma and medical devices. It has branches in Jeddah and Dammam. It has multiple distribution agreements with global pharma players, including UK\u2019s Clinigen, Waymade, France\u2019s Ohre Pharma, Italy\u2019s Adienne and others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>2023 KPIs:&nbsp;<\/strong>The healthcare provider\u2019s bottom line was down 21.2% y-o-y to SAR 5.2 mn by the end of June 2023, while revenues were up 10.6% y-o-y to SAR 44 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lock-up period: <\/strong>All four substantial shareholders will have to abide by a 12-month lock-up period starting from the first day of trading before they can make any transactions on their shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong><strong>Derayah Financial<\/strong> is quarterbacking the transaction as lead manager, while <strong>Watheeq Capital<\/strong> is acting as financial advisor.<\/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\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/qomel\/\">Qomel<\/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=\"84698\" 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=\"84699\" 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=\"84699\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/wafrah-appoints-a-new-ceo\/\">\r\n                            Wafrah taps Riyan Mohammed Al-Mansour for CEO                        <\/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\/25\/wafrah-appoints-a-new-ceo\/\" 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\/25\/wafrah-appoints-a-new-ceo\/')\">\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\/25\/wafrah-appoints-a-new-ceo\/\">\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=Wafrah appoints a new CEO&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/wafrah-appoints-a-new-ceo\/\">\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\/25\/wafrah-appoints-a-new-ceo\/&title=Wafrah appoints a new CEO\">\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=Wafrah+appoints+a+new+CEO+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F25%2Fwafrah-appoints-a-new-ceo%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\/25\/wafrah-appoints-a-new-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2167.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84700\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/wafrah-appoints-a-new-ceo\/2167-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2167.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2167.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2167.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2167.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84699\" class=\"content-area-description single-story post-84699 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-ksa tag-moves tag-wafrah-for-industry-and-development 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\/.bb9ab8d8-d72c-4c12-97aa-141689da252a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Wafrah accepts CEO\u2019s request for departure, appoints new chief:<font face=\"Arial\">&nbsp;<\/font><\/strong>Riyadh-based food production firm Wafrah Industry and Development has appointed Riyan Mohammed Al-Mansour as its new CEO, succeeding Mohammad Abdulaziz Al-Fadhli, the company noted in a bourse <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMTAwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4ODg4\/\" style=\"\" rel=\"noopener\">disclosure<\/a>. Al-Mansour, who has an engineering background and over two decades in the industrial and investments sectors, will assume his new role effective Monday, 1 April, 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Marriott International\u2019s luxury hotel brand Ritz Carlton has named<\/strong><strong> Peter <\/strong><strong>Katusak-Huzsvar <\/strong><strong>(<\/strong><strong><a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/in\/peter-katusak-huzsvar-65067328\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>)<\/strong><strong> as its new general manager<\/strong> for the Ritz Carlton Jeddah, according to a <a target=\"_blank\" href=\"https:\/\/www.hospitalitynet.org\/appointment\/79028033.html\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. Huzsvar has more than 20 years of experience. He joins from Dubai, where he was general manager at hotels including W Dubai The Palm and W Residences Dubai The Palm.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Parking solutions provider <\/strong><strong><a target=\"_blank\" href=\"https:\/\/park-point.com\/\" style=\"\" rel=\"noopener\">Park Point<\/a><\/strong><strong> has appointed <\/strong><strong>Mohsen Mulla<\/strong><strong> as its general <\/strong><strong>m<\/strong><strong>anager<\/strong> for Saudi and Bahrain, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/people-in-the-news\/parkpoint-appoints-eng-mohsen-mulla-as-general-manager-for-bahrain-and-saudi-arabia-yfzd1yx7\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. Mulla has experience in industries including petrochemicals, energy, renewable energy, and defense. <\/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\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/wafrah-for-industry-and-development\/\">Wafrah for Industry and Development<\/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=\"84701\" 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=\"84701\">\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\/25\/its-a-sea-of-earnings-news-again\/\">\r\n                            Still more earnings as the FY 2023 season continues                        <\/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\/25\/its-a-sea-of-earnings-news-again\/\" 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\/25\/its-a-sea-of-earnings-news-again\/')\">\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\/25\/its-a-sea-of-earnings-news-again\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=It\u2019s a sea of earnings news (again)&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/its-a-sea-of-earnings-news-again\/\">\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\/25\/its-a-sea-of-earnings-news-again\/&title=It\u2019s a sea of earnings news (again)\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=It%E2%80%99s+a+sea+of+earnings+news+%28again%29+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F25%2Fits-a-sea-of-earnings-news-again%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\/25\/its-a-sea-of-earnings-news-again\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84701\" class=\"content-area-description single-story post-84701 post type-post status-publish format-standard hentry category-earnings-watch tag-agriculture tag-earnings-watch tag-enterpriseam-ksa tag-financial-services tag-insurance tag-manufacturing tag-real-estate 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\/.ff7522c2-c493-4a8e-9af2-a8935d326c61.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Strap in for a flurry of earnings.<\/strong> Let\u2019s jump right in.<\/p>\n<p class=\"tag-border-left\">GULF UNION ALAHLIA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gulf Union Alahlia Cooperative Ins. turned to the black with a net income of SAR 125 mn <\/strong><strong>in 2023<\/strong>, while revenues were up 23.2% y-o-y to SAR 624.5 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\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC84MTIwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4ODgy\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The ins. outfit attributed the reversal in net losses to increases in its other income line and net investment income, along with a decrease in operating expenses.<\/p>\n<p class=\"tag-border-left\">SUMOU REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.sumou.com.sa\/en\/\" style=\"\" rel=\"noopener\">Sumou Real Estate<\/a><\/strong><strong>\u2019s net income was up 17.5% y-o-y to SAR 103 mn<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/mrxuukam\" style=\"\" rel=\"noopener\">a disclosure<\/a><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/mrxuukam\" style=\"\" rel=\"noopener\">to Tadawul<\/a> yesterday. Meanwhile, its revenues fell 3% y-o-y to SAR 273.8 mn. Its BoD has recommended a 33% capital hike to SAR 500 mn through bonus shares to bolster the company\u2019s capital base and future plans, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yjwh53t8\" style=\"\" rel=\"noopener\">separate disclosure<\/a>. <\/p>\n<p class=\"tag-border-left\">AJCC-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Jouf Cement\u2019s net income rose 174.2% y-oy to SAR 84.7 mn in 2023<\/strong>, while revenues increased 19.7% y-o-y to SAR 302 mn, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8zMDkxL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4ODgz\/\" style=\"\" rel=\"noopener\">disclosure<\/a> to Tadawul.<\/p>\n<p class=\"tag-border-left\">NASEEJ-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Naseej International Trading net losses increased 10x y-o-y to SAR 16 mn in 2023<\/strong> on the back of higher Zakat allocations amounting to SAR 20.5 mn along with rising financing costs, 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\/lVDLbsIwEPyWHjgWL0SYtDe3qAHEKwQK5FI5ZgmRkjhyHFL69U0IEoVCRS0fPOPZ2dklLlkSN-a7wOc6kDEPC7xy6UeLUWh2TRhDd_YKFByLzmdmo9OkZHEuMIcWBXvE7HGz3QLrHYj7r3pwJi2w3yZDYwBTsIDeVw83Drujv3suGbOndpGg_2L1BswwaftScGXEiya_ZzgI_gjZJ64fSq9aOIs9w_SJq3CDClU9UwW91TpJn2tQgzzP676Ufoh1IaMaXCvZylST5bmSOBgf1tW-uY9egywUpjJTAsnUR83iWGaxwAhjPQhS3eGaE1twscUB7jCccB-JU87H17sglSotVWRVMikKLVUn6a2PeB95MqzeiZLrTOjZPsGK0LKwPr6TwtQJvgrUgMqIK7E9acv_URZ5qDoeWRkltVEyOhnwMrUoM_9ogJ_aORhVeF2oJ6gCWaZLovl8CUHv0fX2hhGxyDTOb84evgEsxzqj\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8xMjEzL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4ODYz\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Meanwhile, revenues were down 7% y-o-y to SAR 260.5 mn,<\/p>\n<p class=\"tag-border-left\">PETRO RABIGH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rabigh Refining and Petrochemical has recorded a net loss of SAR 4.7 bn in 2023<\/strong> down from SAR 1.1 bn in the previous year, 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\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMzgwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4ODg2\/\" style=\"\" rel=\"noopener\">a filing to Tadawul<\/a>. Revenues fell 20.3% y-o-y to SAR 44.6 bn in 2023. The petrochems player pinned the increase in net losses to difficult market conditions, an uptick in financing costs and the unscheduled shutdown of its ethane cracker unit between 1 March and 20 March 2023, along with a maintenance break in its High Olefins Fluid Catalytic cracker plant in December of last year. <\/p>\n<p class=\"tag-border-left\">SURE GLOBAL TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sure Global Tech\u2019s net income grew 19.1% <\/strong><strong>y-o-y<\/strong><strong> to SAR 28.7 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\/lVDLbsIwEPyWHjgWL0SYtDe3qAHEKwQK5FI5ZgmRkjhyHFL69U0IEoVCRS0fPOPZ2dklLlkSN-a7wOc6kDEPC7xy6UeLUWh2TRhDd_YKFByLzmdmo9OkZHEuMIcWBXvE7HGz3QLrHYj7r3pwJi2w3yZDYwBTsIDeVw83Drujv3suGbOndpGg_2L1BswwaftScGXEiya_ZzgI_gjZJ64fSq9aOIs9w_SJq3CDClU9UwW91TpJn2tQgzzP676Ufoh1IaMaXCvZylST5bmSOBgf1tW-uY9egywUpjJTAsnUR83iWGaxwAhjPQhS3eGaE1twscUB7jCccB-JU87H17sglSotVWRVMikKLVUn6a2PeB95MqzeiZLrTOjZPsGK0LKwPr6TwtQJvgrUgMqIK7E9acv_URZ5qDoeWRkltVEyOhnwMrUoM_9ogJ_aORhVeF2oJ6gCWaZLovl8CUHv0fX2hhGxyDTOb84evgEsxzqj\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC85NTUwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4ODY1\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Revenues fell 6.4% y-o-y to SAR 194.3 mn during the same period. The increase in net income was driven by a 17% surge in operating income due to higher revenues at a lower cost.<\/p>\n<p class=\"tag-border-left\">AMANA COOPERATIVE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/amana-cooperative-insurance\" style=\"\" rel=\"noopener\">Amana Cooperative Ins<\/a><\/strong><strong>. turned to the black in 2023 to report a net income of SAR 25.4 mn<\/strong>, reversing a net loss of SAR 48.2 mn a year earlier, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/meaj92kd\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>&nbsp;yesterday. Its ins. revenues dropped 22.3% y-o-y to SAR 184.6 mn.<\/p>\n<p class=\"tag-border-left\">AL JOUF AGRICULTURAL DEVELOPMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/aljouf.com\/index.php?route=common\/about\" style=\"\" rel=\"noopener\">Al Jouf Agricultural Development\u2019s<\/a><\/strong><strong> (JADCO) net income grew 21.4% y-o-y to SAR 62 mn <\/strong><strong>in <\/strong><strong>2023<\/strong>, while its revenues increased 24.7% to SAR 426.4 mn, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/msadfkb2\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a> yesterday.<\/p>\n<p class=\"tag-border-left\">CATRION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudia in-flight catering provider <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.catrion.com\/\" style=\"\" rel=\"noopener\">Catrion Catering Holding<\/a><\/strong><strong>\u2019s net income was up c.10% <\/strong><strong>y-o-y to <\/strong><strong>SAR 282.7 mn <\/strong>in 2023, while its revenues rose 17.4% to SAR 2.13 bn, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2addvevv\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a> yesterday. Meanwhile its board has approved a dividend payout of SAR 90.2 mn at SAR 1.1 per piece for 2H 2023, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3p5f4s5m\" style=\"\" rel=\"noopener\">a seperate disclosure<\/a>.<\/p>\n<p class=\"tag-border-left\">SAUDI CERAMIC-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Ceramic\u2019s accumulated net losses amounted to SAR 210.4 mn in 2023<\/strong>, compared to a net income of SAR 173.9 mn in 2022, 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\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMDQwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4ODg1\/\" style=\"\" rel=\"noopener\">a regulatory filing to Tadawul<\/a>. Revenues were down 11.5% y-o-y to SAR 1.3 bn. The net loss was attributed to lower sales revenues, higher financing costs, a loss of SAR 78 mn in asset value, and a SAR 165 mn bill in damages caused by a factory fire.<\/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\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/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=\"84702\" 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=\"84702\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/al-fayhaa-hospital-to-open-its-doors-this-month\/\">\r\n                            Al Fayhaa Hospital to open its doors this month                        <\/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\/25\/al-fayhaa-hospital-to-open-its-doors-this-month\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/al-fayhaa-hospital-to-open-its-doors-this-month\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/al-fayhaa-hospital-to-open-its-doors-this-month\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Al Fayhaa Hospital to open its doors this month&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/al-fayhaa-hospital-to-open-its-doors-this-month\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/al-fayhaa-hospital-to-open-its-doors-this-month\/&title=Al Fayhaa Hospital to open its doors this month\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Al+Fayhaa+Hospital+to+open+its+doors+this+month+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F25%2Fal-fayhaa-hospital-to-open-its-doors-this-month%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/al-fayhaa-hospital-to-open-its-doors-this-month\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84702\" class=\"content-area-description single-story post-84702 post type-post status-publish format-standard hentry category-also-on-our-radar tag-acwa-power tag-ades tag-also-on-our-radar tag-enterpriseam-ksa tag-morocco tag-oil tag-renewables tag-solar tag-thailand 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\/.6c2ba918-1b4b-4c22-9d36-9df361e58e29.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Fayhaa Hospital in Jeddah will start <\/strong><strong>admitting patients on Sunday, 31 <\/strong><strong>March<\/strong>, after having secured a license from the Health Ministry, the project\u2019s co-owners Dr. Sulaiman Al Habib Medical Services Group and Al Andalus Property said in two separate filings (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MDEzL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4ODc5\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNc4IwEP0tPXisWWUE2ltap4iDn2hVLp0QV2AGCBOC1v76gjhjtdqxmRzyXt6-fbvEI0vipWwbBUxFImVxiVee_tGhOrR7JoygN3sFHVxLn8_MVretk8W5wBxYOkyGdDJqGx2w3oF4_6oHd9yBydt4oDkwBQv0--rhxqF39PfOJSP6ZJQJ-i-W7VDN1I1LwZURL5r8nuEg-CNkn3hBLPx64TT1NTMgnsQNSpTNQpZ0qFSWPzegAbvdrhkIEcTY5CJpwLWSUOSKLM-VxMX0sC7j5j7sFllIzEUhOZJpgIqmqShSjgmmyoly1WWKkQlnPEQHtxiPWYDEreZj622UC5lXKrKqmBy5ErKb2esj3ie-iOt3JsW64Gq2z7AmlCitj--sNHWjrxK1oDZikocnbfU_LBIfZdcnq3ZFbaRITgasSs2rzD8a4KdyD0Y1XpfqMcpIVOmyZD5fQmQ_ev5e0xKamNr53dGHb8EHhK8!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MzIwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4ODc2\/\" style=\"\" rel=\"noopener\">here<\/a>) to Tadawul. The 50-50 JV has finalized the necessary procedures and operational requirements for the launch. The project was announced in 2017 at an estimated cost of SAR 1.5 bn and an initial operational date of 2Q 2022, according to <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1408445\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>.<\/p>\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi Fund for Development (SFD) will loan USD 101 mn to Pakistan to partially fund <\/strong><strong>the building of two hydropower plants<\/strong> with a combined capacity of 70 MW, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2071737\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. Pakistan has set an ambitious target to have renewables <a target=\"_blank\" href=\"https:\/\/climatepromise.undp.org\/what-we-do\/where-we-work\/pakistan\" style=\"\" rel=\"noopener\">comprise 60% of its power mix<\/a> by 2030 with a conditional <a target=\"_blank\" href=\"https:\/\/www.trade.gov\/country-commercial-guides\/pakistan-renewable-energy#:~:text=The%20Government%20of%20Pakistan%20renewable,wind%20energy%20market%20in%20Pakistan.\" style=\"\" rel=\"noopener\">target of an overall 50%<\/a> reduction of its projected greenhouse gas emissions by the end of the decade.<\/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>#1- Acwa Power expects a revenue hit following forced outage to its Nooro 3 solar plant <\/strong><strong>in Morocco<\/strong><strong>:<\/strong> Saudi renewables giant Acwa Power anticipates a USD 47 mn loss in revenues after a leak in the molten salts hot tank of the <a target=\"_blank\" href=\"https:\/\/acwapower.com\/en\/projects\/nooro-iii-csp-ipp\/\" style=\"\" rel=\"noopener\">150 MW Nooro III Concentrated Solar Project<\/a> in Morocco\u2019s Ouarzazate led to a forced outage in the plant, according to a Tadawul <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNc4IwEP0tPXisWWUE2ltap4iDn2hVLp0QV2AGCBOC1v76gjhjtdqxmRzyXt6-fbvEI0vipWwbBUxFImVxiVee_tGhOrR7JoygN3sFHVxLn8_MVretk8W5wBxYOkyGdDJqGx2w3oF4_6oHd9yBydt4oDkwBQv0--rhxqF39PfOJSP6ZJQJ-i-W7VDN1I1LwZURL5r8nuEg-CNkn3hBLPx64TT1NTMgnsQNSpTNQpZ0qFSWPzegAbvdrhkIEcTY5CJpwLWSUOSKLM-VxMX0sC7j5j7sFllIzEUhOZJpgIqmqShSjgmmyoly1WWKkQlnPEQHtxiPWYDEreZj622UC5lXKrKqmBy5ErKb2esj3ie-iOt3JsW64Gq2z7AmlCitj--sNHWjrxK1oDZikocnbfU_LBIfZdcnq3ZFbaRITgasSs2rzD8a4KdyD0Y1XpfqMcpIVOmyZD5fQmQ_ev5e0xKamNr53dGHb8EHhK8!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMDgyL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4ODc4\/\" style=\"\" rel=\"noopener\">disclosure<\/a>. The leak is expected to force an outage until November 2024 for the solar farm in which it holds a 75% stake, with the financial impact projected to be reflected in 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Solid waste management JV gets a nod:<\/strong> The General Authority for Competition (GAC) approved setting up a joint venture comprising Madinah Regional Municipality\u2019s investment arm Al Mqr Development, Saudi Investment Recycling (SIRC) subsidiary Akam and UAE\u2019s waste management firm Beeah for solid waste management in the city, <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2482006\/business-economy\" style=\"\" rel=\"noopener\">Arab News<\/a> reported yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong> The JV is set to tackle sewage control and treatment hurdles in Madinah through developing sorting stations, public landfills and other infrastructure. No further details were provided on the joint venture or when it plans to begin operations.<\/p>\n<p class=\"tag-border-left\">OIL &amp; GAS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ades <\/strong><strong>secures Jack-up rig contract in Thailand<\/strong>: Egypt-born, Tadawul-listed oil and gas drilling company Ades Holding has received a letter of intent from PTTEP Energy Development for SAR 354 mn jack-up drilling contract in the Gulf of Thailand, it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2095.pdf\" style=\"\" rel=\"noopener\">a press release (pdf)<\/a>. Operations are slated to start in 2H 2024. The contract runs for 18 months with an extension option for an additional 9 months period. This brings the total number of Ades jack-ups in Southeast Asia to five, and marks the company\u2019s entry into its ninth country of operations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ades has been ramping up overseas drilling: <\/strong>The oil and driller\u2019s net income <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/44dd0cc6-fa1c-452c-ae58-7901bd7dd0d2\/more-earnings:%253cmark%253e-ades-%253c%2Fmark%253eholding,-tasnee,-saptco,-clean-life\" style=\"\" rel=\"noopener\">rose 13.7% y-o-y<\/a> to SAR 452.1 mn in 2023, and its revenues were up 75.6% y-o-y to SAR 4.3 bn. The rise in revenues came on the back of a completed acquisition in Saudi in 4Q 2022 that added four operations rigs to its portfolio and the launch of 14 rigs from the 19 contracts signed with Aramco among other drivers<\/p>\n<p class=\"tag-border-left\">COFFEE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Costa Coffee switches to Jazean beans<\/strong>: Kuwait-based Alghanim Industries, the largest Costa Coffee franchisee in the region, inked an agreement with PIF-owned Saudi Coffee to bring the homegrown Jazean Coffee brand to Costa Coffee outlets, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/alghanim-industries-and-saudi-coffee-company-forge-a-strategic-alliance-to-amplify-saudi-coffee-culture-globally-mn8zfl83?amp=1\" style=\"\" rel=\"noopener\">according to a press release<\/a>. Alghanim currently operates Costa Coffee stores in Kuwait, KSA, Qatar, and Oman, according to its <a target=\"_blank\" href=\"https:\/\/www.alghanim.com\/businesses\/food-beverage\/costa-coffee-kuwait\" style=\"\" rel=\"noopener\">website<\/a>. No further details were made publicly available.<\/p>\n<p class=\"tag-border-left\">MILITARY INDUSTRIES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sami inaugurated its new Naval Systems Integration and Development <\/strong><strong>Center<\/strong>, the PIF\u2019s national defense and security champion <a target=\"_blank\" href=\"https:\/\/sami.com.sa\/blog\/103\" style=\"\" rel=\"noopener\">said last week<\/a>.&nbsp;The hub aims to enhance the Kingdom\u2019s maritime defense systems and develop new capabilities by adopting high tech software in collaboration with local and global tech partners. <\/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\/acwa-power\/\">ACWA power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ades\/\">Ades<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil\/\">Oil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/renewables\/\">RENEWABLES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/solar\/\">solar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/thailand\/\">Thailand<\/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=\"84703\" 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=\"84703\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/imf-chief-calls-on-china-to-reinvent-itself-to-end-mounting-property-crisis\/\">\r\n                            IMF chief calls on China to \u201creinvent itself\u201d to end mounting property crisis                        <\/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\/25\/imf-chief-calls-on-china-to-reinvent-itself-to-end-mounting-property-crisis\/\" 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\/25\/imf-chief-calls-on-china-to-reinvent-itself-to-end-mounting-property-crisis\/')\">\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\/25\/imf-chief-calls-on-china-to-reinvent-itself-to-end-mounting-property-crisis\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=IMF chief calls on China to \u201creinvent itself\u201d to end mounting property crisis&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/imf-chief-calls-on-china-to-reinvent-itself-to-end-mounting-property-crisis\/\">\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\/25\/imf-chief-calls-on-china-to-reinvent-itself-to-end-mounting-property-crisis\/&title=IMF chief calls on China to \u201creinvent itself\u201d to end mounting property crisis\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=IMF+chief+calls+on+China+to+%E2%80%9Creinvent+itself%E2%80%9D+to+end+mounting+property+crisis+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F25%2Fimf-chief-calls-on-china-to-reinvent-itself-to-end-mounting-property-crisis%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\/25\/imf-chief-calls-on-china-to-reinvent-itself-to-end-mounting-property-crisis\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2149.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84704\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/imf-chief-calls-on-china-to-reinvent-itself-to-end-mounting-property-crisis\/2149-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2149.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2149.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2149.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2149.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84703\" class=\"content-area-description single-story post-84703 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-bahrain tag-china tag-enterpriseam-ksa tag-financial-markets tag-imf tag-kristalina-georgieva tag-mumtalakat tag-oman tag-oq tag-planet-finance tag-real-estate 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\/.66f833ee-595a-410b-9668-dec004165bb9.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cChina faces a fork in the road<\/strong> \u2014 rely on the policies that have worked in the past, or reinvent itself for a new era of high-quality growth,\u201d IMF head Kristalina Georgieva said at the China Development Forum on Sunday, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/be0a8eb8-9f8a-462d-9e1e-9d9f4a85012c\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. Georgieva urged China to implement policies to \u201creinvent itself,\u201d including measures that would boost domestic consumption and production rates and end the country\u2019s mounting property crisis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>A more domestic consumption-centered policy mix could add USD 3.5 tn to China\u2019s economy over the next 15 years, but this depends on \u201cboosting the spending power of individuals and families,\u201d reducing risks from local government debt, and completing abandoned housing projects, Georgieva said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Chinese economic miracle no more? <\/strong>Foreign direct investment to the world\u2019s factory in 2023 hit its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0e1495ad-1a4d-4f74-b404-ee09522ef45d\/foreign-direct-investment-in%253cmark%253e-china-%253c%2Fmark%253ehits-lowest-level-since-1993\" style=\"\" rel=\"noopener\">lowest level in three decades<\/a> on the back of slow post-pandemic recovery and the property crisis continuing to worsen with the country\u2019s largest property developer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4b947d8-7556-448a-8b50-618d672ebf63\" style=\"\" rel=\"noopener\">defaulting<\/a> on a USD bond in October. The slowdown in China also led credit rating agency Moody\u2019s to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e0022b80-dc73-486c-9206-9635e1143edd\/moody%25e2%2580%2599s-issues-negative-outlook-for-global-banks\" style=\"\" rel=\"noopener\">downgrade its outlook<\/a> on the country\u2019s sovereign credit rating to negative from stable in December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING-<\/strong><\/p>\n<ul>\n<li><strong>OQ Oman taps advisors for upcoming IPOs: <\/strong>Omani state-owned oil and gas player <a target=\"_blank\" href=\"https:\/\/oq.com\/en\" style=\"\" rel=\"noopener\">OQ<\/a> has tapped HSBC to help list the company\u2019s exploration and production arm that could raise a record USD 1 bn \u2014 a record for the country. Morgan Stanley will help list the company\u2019s methanol and liquefied petroleum gas business. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-22\/oman-state-energy-firm-is-said-to-pick-banks-to-list-two-units\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<li><strong>Bahraini wealth fund takes over<font face=\"Arial\">&nbsp;<\/font><\/strong><strong>UK\u2019s McLaren:<\/strong> Bahraini sovereign wealth fund <a target=\"_blank\" href=\"https:\/\/www.mumtalakat.bh\/\" style=\"\" rel=\"noopener\">Mumtalakat<\/a> has become the sole owner of the UK\u2019s supercar maker <a target=\"_blank\" href=\"https:\/\/www.mclaren.com\/\" style=\"\" rel=\"noopener\">McLaren Group<\/a> after increasing its share to 100% from 60%. (<a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/business-68639320\" style=\"\" rel=\"noopener\">BBC<\/a>)<\/li>\n<\/ul>\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 in the red and US and European futures largely unchanged <\/strong>as traders look ahead to a holiday-shortened trading week. Dow, S&amp;P, and Nasdaq futures were all down by fractions of a percentage point. The Kospi, Hang Seng, Nikkei, and Shanghai Composite were all (just) in the red at dispatch time this morning. <\/p>\n<p><a target=\"_blank\" id=\"t.2bc389aae6f5af8648e200c349f5f75ac9b68b84\" 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<tbody>\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>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\">12,796<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +6.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,613<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +4%)<\/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\">26,840<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.9% (YTD: +9.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6.5% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>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\">29,060<\/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\">+0.0% (YTD: 16.7%)<\/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>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\">9,322<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: -2.7%)<\/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>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\">4,280<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +5.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;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\">5,234<\/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: 9.7%)<\/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>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\">7,931<\/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: 2.6%)<\/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>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\">5,031<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: 11.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">85.43<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1.66<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">2.181<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">65,469<\/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\">+1.5% (YTD: 138%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\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\">The <strong>TASI&nbsp;<\/strong>fell -0.3% <strong>yesterday <\/strong>on turnover of SAR 6.6 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>Saudi Cable (+10%), Amiantit (+10%) and Chubb (+9.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>East Pipes (-6.7%), MIS (-6.3%), Amana Ins. (-6.2%).<\/p>\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\">The <strong>NomuC&nbsp;<\/strong>fell -1.9% <strong>yesterday <\/strong>on turnover of SAR 40.4 mn. The index is up 9.4% 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>Riyadh Steel (+10.3%), United Mining (+9%) and Osool and Bakheet (+8.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Jahez (-7.3%), Knowledge Net (-6.4%) and Ladun (-5.5%)<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>The Capital Market Authority (CMA) has approved the Saudi Investment Bank (SAIB)\u2019s <\/strong><strong>request to hike its capital to SAR 12.5 bn<\/strong> from SAR 10 bn through issuing one new share for every four existing shares, according to a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3515.aspx\" style=\"\" rel=\"noopener\">statement by the CMA<\/a> yesterday. This will be financed by transferring SAR 2.5 bn from the company\u2019s statutory reserves to increase the number of outstanding shares by 250 mn shares to 1.25 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Saudi Ceramic\u2019s board has recommended a SAR 200 mn capital hike to SAR 1 bn <\/strong>through a bonus shares issuance in a bid to fuel its expansion plans, 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\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMDQwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4ODg3\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. This would be financed through the capitalizing of SAR 200 mn from retained earnings. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Amiantit has settled debt it owes to Saudi National Bank (SNB) at a 50% markdown, <\/strong><strong>paying only SAR 156.5 mn<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMTYwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4ODgx\/\" style=\"\" rel=\"noopener\">disclosure<\/a> to Tadawul.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Nomu-listed National Building and Marketing\u2019s BoD has recommended not paying a <\/strong><strong>dividend for FY 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\/lZFBc4IwEIV_DVd2lRJib6mdIo6oFKmQSydUinYgcRBl_PeNesKKY3PbzPf2vTcLHGLgUhw2uag3SopCzwknnzYj2B9RnOFoMUSCoUuiBe29ehYs2wD1XYLBlAWzvmOj-4HA_6XHcG5j8Db3rQm-o4vkMT12PPaAP28jMzZwdILxi-tNmEWJcw3cqHhl8rfDGbgX8m7MPoEx8LxQ6eUiTKYWzYFX2XdWZZW5r_T3uq63u2cDDWyaxsyVyovM_FKlgbcka7WrIW6TJ-605bykFivR7Aut5kLKodB0rxvwVhA7lA6eIMwkJPomTmebgEB4Kqwdt0Iew2OZqgKSgd1D2JZRFOPG-7GLwyRb0ppO_V-gMEpr\/dz\/d5\/L0lHSkovd0RNQU5rQUVnQSEhLzROVkUvYXI!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The company said the decision comes as it looks to focus on completing and financing its projects pipeline and improving liquidity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#<\/strong><strong>5- Advertising and PR firm Tihama\u2019s BoD has approved liquidation procedures for some <\/strong><strong>of its dormant subsidiaries<\/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-oyMTA3EA_ODVPvyA3NMIgMyA3XNdREQAyiKbw\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODg5Ny9jb21wYW55U3ltYm9sLzQwNzAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The move aims \u201cto protect the company and its interests and correct the legal conditions to address the company\u2019s situation to reduce and stop financial losses and legal risks,\u201d it said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Tihama\u2019s net income <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/24e53f32-ccc4-4df8-bb2f-3e5facffd0ad\/tanmiah,-burgerizzr,%253cmark%253e-tihama-%253c%2Fmark%253e2023-results-are-in\" style=\"\" rel=\"noopener\">fell 54% y-o-y in 9M 2023<\/a> to SAR 32 mn, while revenues were down 20.1% y-o-y to SAR 57 mn in the same period.<\/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\/bahrain\/\">Bahrain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/kristalina-georgieva\/\">Kristalina Georgieva<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mumtalakat\/\">Mumtalakat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oq\/\">OQ<\/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\/real-estate\/\">Real Estate<\/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=\"84705\" 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\/25\/84705\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84705\" class=\"content-area-description single-story post-84705 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-11 April (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/article\/b222obq-abu-dhabi-host-saudi-super-cup-april#:~:text=ABU%20DHABI%2C%209th%20March%2C%202024,East%20outside%20of%20Saudi%20Arabia.\" style=\"\">Saudi Super Cup<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10 April (Wednesday): Eid al-Fitr<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-21 April (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/FutureMeetings.html\" style=\"\">IMF and World Bank spring meetings<\/a><\/span><span style=\"font-weight:400;\">, Washington, DC<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16 April (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/mos.gov.sa\/en\/mediacenter\/eventscenter\/Pages\/eventdetails.aspx?ItemID=69\" style=\"\">FEI World Cup Equestrian<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-29 April (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.weforum.org\/press\/2024\/01\/annual-meeting-2024-rebuilding-trust-amid-uncertainty\/#:~:text=The%20Forum%20announced%20it%20will,29%20April%202024%20in%20Riyadh.\" style=\"\">World Economic Forum Special Meeting<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29 April-1 May: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futurehospitality.com\/sa\" style=\"\">Future Hospitality Summit<\/a><\/span><span style=\"font-weight:400;\"> at Al Faisaliah Hotel, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-5 May (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/townhall-exhibition-kicks-off-next-may-in-riyadh-with-targeted-sales-of-2bln-pounds-srwjmorx\" style=\"\">Townhall Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-9 May (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-smartmanufacturing.com\/\" style=\"\">Saudi Smart Manufacturing<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-9 May (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-smartlogistics.com\/\" style=\"\">Saudi Smart Logistics<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-15 May (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.smartfuturexpo.com\/\" style=\"\">Smart Future Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13 May (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/events.meed.com\/event\/saudigigaprojects\/\" style=\"\">Saudi Giga Projects<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-21 May (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudienergyconvention.com\/\" style=\"\">Saudi Energy Convention<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-21 May (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fpf.sa\/en\" style=\"\">Future Projects Forum<\/a><\/span><span style=\"font-weight:400;\">, Four Seasons Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-23 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thesaudifoodshow.com\/\" style=\"\">The Saudi Food Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in May:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Global Trade Review (GTR): KSA<\/span><\/li>\n<li><span style=\"font-weight:400;\">Saudi Energy Convention<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 June (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudisportshow.com\/\" style=\"\">Saudi Sports Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 June (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/aqaratexpo.com\/en\/home\/\" style=\"\">Aqarat Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/saudi-arabia-host-world-environment-day-2024-focus-land-restoration\" style=\"\">World Environment Day<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in June:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Eid Al-Adha (national holiday)<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-15 August (Monday-Thursday): The Saudi Food Expo, Riyadh <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-12 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/informaconnect.com\/saudi-event-show\/\" style=\"\">The Saudi Event Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-19 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/evautoshowonline.com\/\" style=\"\">EV Auto Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-26 September (Tuesday-Thursday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiinfrastructureexpo.com\/\" style=\"\">Saudi Infrastructure Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention and Exhibition Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 September (Monday): National Day (national holiday)<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 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>11-14 November (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cityscapeglobal.com\/en\/home.html\" style=\"\">Cityscape Global<\/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>All about the new zakat rules | Point-of-sale spending up 11% in January | Private sector created 1.1 mn jobs last year<\/p>\n","protected":false},"featured_media":84688,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-84687","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"0bae16a9-71ac-40bd-b277-815d0e799737","teaser":"All about the new zakat rules | Point-of-sale spending up 11% in January | Private sector created 1.1 mn jobs last year","photo_url":"https:\/\/ent.news\/2024\/3\/2192.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>EFG Hermes readies USD 300 mn Saudi education fund - 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\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG Hermes readies USD 300 mn Saudi education fund\" \/>\n<meta property=\"og:description\" content=\"All about the new zakat rules | Point-of-sale spending up 11% in January | Private sector created 1.1 mn jobs last year\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-14T17:43:26+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\/2192.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\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/\",\"name\":\"EFG Hermes readies USD 300 mn Saudi education fund - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2192.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-03-25T00:00:00+00:00\",\"dateModified\":\"2025-12-14T17:43:26+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2192.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2192.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/#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\":\"EFG Hermes readies USD 300 mn Saudi education fund\"}]},{\"@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":"EFG Hermes readies USD 300 mn Saudi education fund - 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\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/","og_locale":"en_US","og_type":"article","og_title":"EFG Hermes readies USD 300 mn Saudi education fund","og_description":"All about the new zakat rules | Point-of-sale spending up 11% in January | Private sector created 1.1 mn jobs last year","og_url":"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/","og_site_name":"KSA","article_modified_time":"2025-12-14T17:43:26+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2192.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/","url":"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/","name":"EFG Hermes readies USD 300 mn Saudi education fund - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2192.jpg?fit=%2C&ssl=1","datePublished":"2024-03-25T00:00:00+00:00","dateModified":"2025-12-14T17:43:26+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2192.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2192.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/issues\/efg-hermes-readies-usd-300-mn-saudi-education-fund\/#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":"EFG Hermes readies USD 300 mn Saudi education fund"}]},{"@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\/84687","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\/84687\/revisions"}],"predecessor-version":[{"id":84723,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/84687\/revisions\/84723"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/84688"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=84687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=84687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=84687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}