{"id":84775,"date":"2024-03-27T00:00:00","date_gmt":"2024-03-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=84775"},"modified":"2025-12-14T17:45:02","modified_gmt":"2025-12-14T17:45:02","slug":"larry-fink-says-what-saudi-already-knew-the-future-is-about-infrastructure-and-energy-pragmatism","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/larry-fink-says-what-saudi-already-knew-the-future-is-about-infrastructure-and-energy-pragmatism\/","title":{"rendered":"Larry Fink says what Saudi already knew: The future is about infrastructure and \u201cenergy pragmatism\u201d"},"content":{"rendered":"<section id=\"84777\" 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=\"84777\">\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\/27\/modern-mills-to-start-trading-on-tadawul-today-with-shares-opening-at-sar-48-00-each\/\">\r\n                            Modern Mills to start trading on Tadawul today, with shares opening at SAR 48.00 each                        <\/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\/27\/modern-mills-to-start-trading-on-tadawul-today-with-shares-opening-at-sar-48-00-each\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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No single story captures the imagination this morning<\/strong>, but we do have a trio of reports on M&amp;A and IPO activity, sentiment about banks, and the growth outlook for the non-oil economy that are worth a few minutes of your time. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Morning must-read: <\/strong>BlackRock is the world\u2019s biggest asset manager. Larry Fink, who helped push climate and ESG investing into the spotlight, now says the future for capital markets centers in no small part on infrastructure and \u201cenergy pragmatism.\u201d That view is about 99.9% congruent with economic policy here in the Arab world. We have the full rundown in this morning\u2019s Planet Finance. <\/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>Modern Mills <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e425aed8-1eec-447b-b368-6ffa94c86197\/%253cmark%253emodern-mills-%253c%2Fmark%253eto-make-tadawul-debut-tomorrow-%2B-fintech-player-rasan-files-for-ipo\" style=\"\" rel=\"noopener\">will ring the bell<\/a> on Tadawul\u2019s main market today. Shares will open at SAR 48.00 apiece as the milling company wraps up an IPO that saw it sell a 30% stake.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of IPOs: <\/strong><strong>Al Mohafaza Education shares gained on their first Nomu trading day<\/strong>, rising 6.6% to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/hidden\/company-profile-nomu-parallel\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz8_R0tzQ0C3byc3D19HI1dA030I4EKzBEKDMKcTQzMDPxN3H19LAzdTUz1wwkpKMhO8wQA9KBkIg!!\/?companySymbol=9598\" style=\"\" rel=\"noopener\">SAR 19.2 a piece<\/a> at yesterday\u2019s close. The school operator <a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/63200ca0-8687-4aaa-a93e-7fbb76261cf3\" style=\"\" rel=\"noopener\">floated 1.6 mn shares<\/a> \u2014 good for 20% stake of the company \u2014 in an IPO that was 324% covered. <strong>It was <\/strong><strong>Nomu\u2019s<\/strong><strong> fifth IPO of the year<\/strong>; Nomu is Tadawul\u2019s parallel market for smaller, earlier-stage companies and is open only to qualified investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SIGN OF THE TIMES- <\/strong><strong>Miss Universe to feature the first-ever Saudi pageant <\/strong><strong>queen<\/strong><strong>:<\/strong> 27-year-old Saudi model Rumy Alqahtani plans to compete on the Miss Universe Pageant stage in Mexico this September, the influencer told her 1 mn followers <a target=\"_blank\" href=\"https:\/\/www.instagram.com\/p\/C46cXXjsoOT\/?utm_source=ig_web_copy_link&amp;igsh=MzRlODBiNWFlZA==\" style=\"\" rel=\"noopener\">on Instagram<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s <\/strong><strong>Saudi Green Initiative day. <\/strong>Cabinet set 27 March of each year as the designated day for the initiative, which has three targets for a sustainable long-term climate action through emissions reduction across key sectors, greening the nation, and bolstering biodiversity. The SGI launched in 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Expect warmer temperatures and haze in Riyadh today<\/strong>, with a daytime high of 26\u00b0C falling to 15\u00b0C. Be sure to pop on those sunglasses and check if your A\/C is ready for what\u2019s to come. <\/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>Jeddah<\/strong>, with temperatures peaking at 32\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>Dammam <\/strong>is in for a light afternoon breeze and some sunshine, with a high of 28\u00b0C and a low of 16\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?<\/strong> Maghrib prayers are at 6:08 pm in the capital city, and you\u2019ll have until 4:38 am tomorrow to hydrate and caffeinate ahead of fajr. Today is day 17 of Ramadan.<\/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\"><a id=\"wwtt2\"><\/a> <strong>#1-<\/strong><strong>Overall merchandise exports fell 10.3% <\/strong><strong>y-o-y<\/strong><strong> in January 2024<\/strong>, driven by a 13.5% y-o-y drop in oil exports, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2341.pdf\" style=\"\" rel=\"noopener\">the latest General Authority for Statistics data (pdf)<\/a>. The share of oil exports in total exports was 77.6% less in January 2024, compared to the same month in the previous year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Non-oil exports inched up 0.8% <\/strong><strong>y-o-y<\/strong><strong>in the same month.<\/strong> Excluding re-exports, the figure dropped to 11.5%. Imports, meanwhile, fell 1.4% y-o-y.<\/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- Some 2.4k mining licenses were issued by the end of January 2024<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.okaz.com.sa\/economy\/saudi\/2158187\" style=\"\" rel=\"noopener\">Okaz<\/a> reports citing a government report. These included building material quarry licenses totalling 1.5k, followed by exploration licenses (613), mining and small mine exploitation licenses (195), surveying licenses (37), and surplus mineral ores licenses (25).<\/p>\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>OPEC+<\/strong><strong> is pushing for boosting investments in the oil sector by USD 14 tn in <\/strong><strong>the next 20 years <\/strong><strong>in a bid to ensure \u201csecure supplies for future generations<\/strong>,\u201d Secretary General Haitham Al Ghais told <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2blljo-opec-secretary-general-calls-for-increased\" style=\"\" rel=\"noopener\">Emirates News Agency (WAM)<\/a>. The breakdown includes USD 11.1 tn investments in the upstream sector, followed by the downstream sector (USD 1.7 tn) and the midstream sector (USD 1.2 tn).<\/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\"><a id=\"wwtt4\"><\/a> <strong>#1- The folks at Dubai-based asset manager <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.aditumim.com\/\" style=\"\" rel=\"noopener\">Aditum Capital<\/a><\/strong><strong> have gotten clearance <\/strong><strong>to advise on securities here<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3517.aspx\" style=\"\" rel=\"noopener\">a CMA statement<\/a>. The investment boutique was set up in 2018 to offer GCC investors a wide range of asset management solutions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- UAE\u2019s Air Arabia will run a new <\/strong><strong>direct <\/strong><strong>route linking Sharjah to Jizan over the summer. <\/strong>Flights start on Tuesday, 4 June, according to its <a target=\"_blank\" href=\"https:\/\/www.airarabia.com\/en\/g9-shj-giz-22mar24\" style=\"\" rel=\"noopener\">website<\/a>.<\/p>\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong>Saudi<\/strong><strong> drew with Tajikistan in Dushanbe yesterday 1-1 in the AFC FIFA World Cup <\/strong><strong>qualifiers<\/strong>, leaving the Green Falcons at the top of their group with 10 points, followed by Jordan with seven.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#2- The WWE is set to return to town in May 2024<\/strong>, UK-based sports daily <a target=\"_blank\" href=\"https:\/\/wrestletalk.com\/news\/wwe-saudi-arabia-return-date-plans-revealed-may-2024\/\" style=\"\" rel=\"noopener\">WrestleTalk<\/a><a target=\"_blank\" href=\"https:\/\/wrestletalk.com\/news\/wwe-saudi-arabia-return-date-plans-revealed-may-2024\/\" style=\"\" rel=\"noopener\">reports<\/a>. The wrestling giant held two shows here in 2023, with the latest <a target=\"_blank\" href=\"https:\/\/bleacherreport.com\/articles\/10096096-crown-jewel-was-another-predictable-roman-reigns-win-but-la-knight-passed-the-test#:~:text=WWE-,Crown%20Jewel%20Was%20Another%20Predictable%20Roman%20Reigns%20Win,LA%20Knight%20Passed%20the%20Test&amp;text=WWE%20wasn'\" style=\"\" rel=\"noopener\">in November<\/a> headlined by Roman Reigns vs LA Knight for the Undisputed WWE Universal Championship in Riyadh. Jeddah hosted the WWE World Heavyweight Championship <a target=\"_blank\" href=\"https:\/\/www.gea.gov.sa\/en\/wwe-3\/\" style=\"\" rel=\"noopener\">May last year<\/a>, which was won by Seth Rollins against rival AJ Styles.<strong> The show\u2019s name, brand and exact date are yet to be announced.<\/strong><\/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\">MORNING MUST READ- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Spanish gov\u2019t snaps up a 3% stake in Telefonica in bid to balance-out stc<\/strong><strong>:<font face=\"Arial\">&nbsp;<\/font><\/strong>The Spanish government has acquired a 3% stake in telecom giant Telefonica through its state holding company Sepi, according to a <a target=\"_blank\" href=\"https:\/\/www.sepi.es\/en\/press-room\/news\/sepi-alcanza-una-participacion-del-3-en-telefonica\" style=\"\" rel=\"noopener\">statement by Sepi<\/a>. The transaction was valued at EUR 698 mn at Telefonica\u2019s closing price on Monday, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-25\/spanish-government-buys-698-million-stake-in-telefonica\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A strategic transaction:<\/strong> \u201cThe entry of the Sepi\u2026 will provide Telefonica with greater shareholder stability to achieve its objectives, contributing to safeguarding the strategic capabilities of a company that is strategic for [Spain\u2019s] national interests.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context:<\/strong> The Spanish government has said it would seek a 10% stake in Telefonica in what analysts say was a bid to offset stc\u2019s acquisition of a 9.9% holding last year. Stc is the Kingdom\u2019s largest telecom operator. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Stc <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/fae6b086-b7f3-41a1-bf1d-2117af671a8f\/stc,-yansab-report-results-for-fy-2023\" style=\"\" rel=\"noopener\">grabbed a 9.9% stake<\/a><\/strong><strong> in Spain\u2019s Telefonica in September 2023<\/strong> to become the telecom giant\u2019s largest shareholder. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Stc is investing more abroad. Its unit Tawal has <a target=\"_blank\" href=\"https:\/\/united.group\/united-group-bv-completes-the-sale-of-mobile-tower-infrastructure-to-tawal\/\" style=\"\" rel=\"noopener\">agreed to buy<\/a> mobile tower infrastructure in Bulgaria, Croatia, and Slovenia worth EUR 1.2 bn from United Group. Stc has also reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2eda0942-e585-4f4b-bf2f-c257e2b4f1d5\/stc-inches-closer-to-acquiring-altice-portugal\" style=\"\" rel=\"noopener\">submitted<\/a> the highest binding offer to acquire Altice Portugal as part of its push into the European market.<\/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 four-day Townhall Expo is slated for Thursday, 2 May<\/strong>, at Holiday Inn Hotel in Riyadh, featuring over 200 projects from Saudi-Egyptian real estate developers and investors who are aiming to wrap up EGP 2 bn in real estate transactions during the expo. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The three-day Smart Future Expo will open its doors on Monday, 13 May<\/strong>, at the Riyadh Front Exhibition and Convention Center. The gathering will include execs, investors, startups, and exhibitors, offering insights into smart tech including AI, AR, digital twin, cybersecurity, cloud computing, blockchain, business intelligence, IoT solutions, big data, and 3D printing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Projects tracking and analysis platform Meed is hosting the Saudi Giga Projects 2024 <\/strong><strong>forum on Monday, 13 May<\/strong>, at Crowne Plaza Riyadh, convening contractors, suppliers and top industry execs. The summit will provide an overview of the USD 870 bn mega projects currently under development across the Kingdom including Qiddiya, Roshn, and Neom. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meed will also be hosting its annual MENA Construction Summit 2024 <\/strong>on Tuesday, 14 May, at the same venue, where industry leaders will have a chance to network and discuss the challenges and potentials of construction tech, climate change resilience and sustainable development in the digital economy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two-day Future Projects Forum kick starts on Monday, 20 May<\/strong>,<strong> <\/strong>at the Four Seasons Hotel in Riyadh, where contractors and investors will be able to meet 40 project owners including Aramco, the PIF, Investment Ministry, Asir Municipality, Mawani, Modon, and the Transport General Authority. The forum is expected to feature projects worth SAR 1 tn where contractors and investors can access information about these projects and weigh their bidding success chances. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cityscape Global is slated for 11-14 November 2024 in Riyadh.<\/strong> Last year the real estate event hosted 160k visitors, 380 speakers, 300 exhibitors and saw transactions worth a combined USD 30 bn close.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ Check out our full Calendar on the web for links to all of these conferences.<\/p>\n\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\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil-watch\/\">oil watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/opec-2\/\">OPEC+<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trade\/\">trade<\/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=\"84779\" 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=\"84779\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/saudi-among-regions-top-three-for-mas-number-one-in-ipos-pwc-report-shows\/\">\r\n                            Saudi closes 2023 with 99 transactions to come second in M&amp;As regionally, PwC report shows                        <\/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\/27\/saudi-among-regions-top-three-for-mas-number-one-in-ipos-pwc-report-shows\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The UAE, Saudi Arabia and Egypt continued to maintain leadership in the M&amp;As activity in the Middle East last year, accounting for 381 transactions \u2014 good for 85.2% of the total volume in the region. Transaction volumes were down for the three countries, with Saudi recording a 13% drop.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total transaction volume in MENA dropped last year <\/strong>to 447 from 635 in 2022. Corporate M&amp;A activity accounted for 56% of transactions, while private equity investors made up the rest. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By industry: <\/strong>Consumer-related mergers or acquisitions led with 106 transactions, followed by financial services (96) and industrial, manufacturing, and automotive (91). TMT and healthcare rounded out the top five. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regional outlook for 2024:<\/strong> \u201cWe anticipate that 2024 will be a year of growth and activity will be driven by economic diversification goals, decarbonisation, and a focus on localisation and value creation, as organizations transform their business models and look to expand capabilities,\u201d PwC transactions markets leader Romil Radia said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(Check out this morning\u2019s EnterpriseAM UAE for additional coverage of the report.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Public Investment Fund led two of the region\u2019s five largest M&amp;As last year.<\/strong> It <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/saudi-arabias-pif-invests-13-billion-4-local-construction-firms-2023-02-14\/\" style=\"\" rel=\"noopener\">acquired<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/saudi-arabias-pif-invests-13-billion-4-local-construction-firms-2023-02-14\/\" style=\"\" rel=\"noopener\">minority stakes<\/a> in local construction firms Nesma &amp; Partners, Almabani General Contractors, El Seif Engineering Contracting and Al Bawani Holding in a USD 1.4 bn transaction. Its <a target=\"_blank\" href=\"https:\/\/www.zain.com\/en\/press-release\/zainksa-pif\" style=\"\" rel=\"noopener\">acquisition of 80% stake in telecom operator Zain<\/a> for USD 806.8 mn through a consortium it led was second-largest. Investment bank SNB Capital also placed near the top of the league table when it <a target=\"_blank\" href=\"https:\/\/tamara.co\/en-SA\/tamara-series-c\" style=\"\" rel=\"noopener\">took 20% stake<\/a> in homegrown BNPL unicorn Tamara for USD 340 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PwC said the Kingdom\u2019s economic diversification drive, expansion of non-oil activity, <\/strong><strong>and growth in industrial manufacturing and clean technologies industries<\/strong> drove interest in investment here. Legislation was also a key driver in luring in fresh capital after the new Companies Law came into effect. It regulates all forms of businesses under comprehensive national law. Interest was also driven by reforms, including the introduction of the Civil Transactions Law, which is the first local written legal code meant to replace a system in which judges had full discretion in ruling on business disputes on a case-by-case basis according to their own interpretation of shariah.<\/p>\n<p class=\"tag-border-left\">SAUDI TOPS MENA IPOS IN 2023-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi reigned supreme in terms of Middle East IPOs in 2023<\/strong>, reporting the largest number of IPOs in the region with 36 offerings, according to the report. Despite its position as IPO leader, the figure is down from 41 IPOs a year earlier. Oil driller Ades Holding IPO was the Kingdom\u2019s largest at USD 1.2 bn, followed by SAL Saudi Logistics, which raised USD 700 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cIPO activity [in Saudi] has also remained strong and we are confident that the region will continue to see a strong pipeline coming through in 2024. We expect the positive momentum to continue as the government privatizes state assets and encourages private sector companies to list in a bid to attract investment, push reforms and move away from dependent on fossil fuels,\u201d PwC Middle East\u2019s Transaction Services Leader Imad Matar noted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Saudi\u2019s leadership of the IPO league table is largely thanks to the surge in listings on Nomu \u2014 that\u2019s Tadawul\u2019s parallel market for smaller, riskier, earlier-stage companies. Nomu is only open to qualified investors and has easier listing and disclosure requirements. Think of it as Tadawul\u2019s answer to London\u2019s AIM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More to come:<\/strong> The report took note of Aramco\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4b51a41c-d94e-4d73-adeb-17186d5bb104\/inching-closer-to-a-blockbuster%253cmark%253e-aramco-%253c%2Fmark%253eshare-sale\" style=\"\" rel=\"noopener\">potential secondary share sale<\/a> which could see the oil giant raise up to USD 20 bn. The state-owned oil company is currently in talks with bulge bracket investment banks to quarterback the sale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The domestic IPO market is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/118bc54f-40b7-49ac-9955-2bea33f264fa\" style=\"\" rel=\"noopener\">still going strong<\/a> in 1Q 2024 with regional broadcaster MBC debuting on Tadawul in January in a USD 222 IPO. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cf04af58-2e30-49e2-8df1-3b0176fe1c4c\" style=\"\" rel=\"noopener\">Avalon Pharma<\/a> has gone public on the main market and shares of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e425aed8-1eec-447b-b368-6ffa94c86197\/%253cmark%253emodern-mills-%253c%2Fmark%253eto-make-tadawul-debut-tomorrow-%2B-fintech-player-rasan-files-for-ipo\" style=\"\" rel=\"noopener\">Moderns Mills<\/a> will start trading today as it wraps its IPO. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7d8e3f25-ea6d-4560-a343-99d2bc217d5a\" style=\"\" rel=\"noopener\">Al Modawat Specialized Medical Hospital<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b46383a8-0302-491d-9416-f67af2fbb82f\" style=\"\" rel=\"noopener\">Pan Gulf Marketing<\/a> have both made their debuts on Nomu.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/avalon-pharma\/\">Avalon Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mbc\/\">MBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/modern-mills\/\">Modern Mills<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pwc\/\">PwC<\/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=\"84781\" 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=\"84781\">\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\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/nomu-listed-canadian-medical-center-prepares-for-transition-to-tadawuls-main-market\/\">\r\n                            Canadian Medical Center eyes transition to main market to help fuel expansion                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/nomu-listed-canadian-medical-center-prepares-for-transition-to-tadawuls-main-market\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/nomu-listed-canadian-medical-center-prepares-for-transition-to-tadawuls-main-market\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/nomu-listed-canadian-medical-center-prepares-for-transition-to-tadawuls-main-market\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Nomu-listed Canadian Medical Center prepares for transition to Tadawul\u2019s main market&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/nomu-listed-canadian-medical-center-prepares-for-transition-to-tadawuls-main-market\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/nomu-listed-canadian-medical-center-prepares-for-transition-to-tadawuls-main-market\/&title=Nomu-listed Canadian Medical Center prepares for transition to Tadawul\u2019s main market\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Nomu-listed+Canadian+Medical+Center+prepares+for+transition+to+Tadawul%E2%80%99s+main+market+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F27%2Fnomu-listed-canadian-medical-center-prepares-for-transition-to-tadawuls-main-market%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/nomu-listed-canadian-medical-center-prepares-for-transition-to-tadawuls-main-market\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2404.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84782\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/nomu-listed-canadian-medical-center-prepares-for-transition-to-tadawuls-main-market\/2404-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2404.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2404.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2404.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2404.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84781\" class=\"content-area-description single-story post-84781 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-al-rajhi-capital tag-canadian-medical-center tag-capital-markets tag-enterpriseam-ksa tag-nomu tag-tadawul wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.68f27e4b-1ad8-4c0c-af28-77027d7cdeb0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Nomu-listed <\/strong><strong><a target=\"_blank\" href=\"https:\/\/sa.canadian-mc.com\/\" style=\"\" rel=\"noopener\">Canadian Medical Center (CMC)<\/a><\/strong><strong> is gearing up for a <\/strong><strong>transition to <\/strong><strong>the main market Tadawul<\/strong>, Chairman Khaled Al Ammar told <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1715267\" style=\"\" rel=\"noopener\">Argaam<\/a> in an interview. He said his company is making the move as it pushes ahead with an ambitious expansion plan that will see it move into new segments of the industry including telemedicine, physiotherapy, outpatient clinics, and others. It is also looking to boost presence in the local emergency medical services market and open new branches in Jubail and Tabuk.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>CMC <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/399e70a3-e2fe-4f5f-8a42-286b5b4ce2db\/pif-said-to-be-pursuing-usd-40-bn,-world-scale-ai-play\" style=\"\" rel=\"noopener\">recently appointed Al Rajhi Capital<\/a> as financial advisor to quarterback the move, which is still subject to approval from the exchange. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>2023 KPIs: <\/strong>CMC\u2019s net income <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lZBRb4IwEMc_yx545U4RhL3VDLsZjTBixL6YsnWVBFqCVeK3X3VPJGzTvl37-939e8AgB6b4uZTclFrxytY7Fux9EuD4NcT1mkRTTOeLGX1bEi9OJ7DtA3Q-ji0QzdKXmI6QToE95GOW-BZIVt4S35FicJ-PvxyC__usjwz8oA8MRLwBf2RYAJOVLn72SVThhRJYK75EK1r31NrrgzHN8dlBB7uuc6XWshLuh64dHFIO-mgg75NX7trl1sTwT96dKmsz-9RwdckudaHtoMgfhZAJBU292eRYJvU2NH4xefoGrj0WSA!!\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODk0OS9jb21wYW55U3ltYm9sLzk1MTgvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">was flat<\/a> last year, inching up 0.4% to SAR 15.7 mn, while revenues were up 23.5% to SAR 100.3 mn as it expanded geographically. The company\u2019s BoD <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lZBRb4IwEMc_yx545U4RhL3VDLsZjTBixL6YsnWVBFqCVeK3X3VPJGzTvl37-939e8AgB6b4uZTclFrxytY7Fux9EuD4NcT1mkRTTOeLGX1bEi9OJ7DtA3Q-ji0QzdKXmI6QToE95GOW-BZIVt4S35FicJ-PvxyC__usjwz8oA8MRLwBf2RYAJOVLn72SVThhRJYK75EK1r31NrrgzHN8dlBB7uuc6XWshLuh64dHFIO-mgg75NX7trl1sTwT96dKmsz-9RwdckudaHtoMgfhZAJBU292eRYJvU2NH4xefoGrj0WSA!!\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODk2MS9jb21wYW55U3ltYm9sLzk1MTgvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">approved yesterday<\/a> a dividend payout of SAR 6.9 mn at SAR 0.09 a share for the second half of 2023. A distribution date has been set for Tuesday, 21 May.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About CMC: <\/strong>The healthcare provider offers multiple medical specialties and other services including setting up clinics, providing medical staff and others. Its client base includes Ades Holding and Arabian Drilling, among others, Al Ammar said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-rajhi-capital\/\">Al Rajhi Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/canadian-medical-center\/\">Canadian Medical Center<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nomu\/\">Nomu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tadawul\/\">Tadawul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84783\" 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=\"84783\">\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\">BANKING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/local-banks-top-online-conversation-about-gcc-financial-institutions\/\">\r\n                            Local banks top conversation on GCC banking online, new KPMG GCC Banking sentiment index shows                        <\/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\/27\/local-banks-top-online-conversation-about-gcc-financial-institutions\/\" 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\/27\/local-banks-top-online-conversation-about-gcc-financial-institutions\/')\">\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\/27\/local-banks-top-online-conversation-about-gcc-financial-institutions\/\">\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=Local banks top online conversation about GCC financial institutions&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/local-banks-top-online-conversation-about-gcc-financial-institutions\/\">\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\/27\/local-banks-top-online-conversation-about-gcc-financial-institutions\/&title=Local banks top online conversation about GCC financial institutions\">\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=Local+banks+top+online+conversation+about+GCC+financial+institutions+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F27%2Flocal-banks-top-online-conversation-about-gcc-financial-institutions%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\/27\/local-banks-top-online-conversation-about-gcc-financial-institutions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2402.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84784\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/local-banks-top-online-conversation-about-gcc-financial-institutions\/2402-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2402.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2402.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2402.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2402.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84783\" class=\"content-area-description single-story post-84783 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-banking tag-banks tag-enterpriseam-ksa tag-gcc tag-kpmg 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\/.90138bf7-6f90-4db8-a59e-8143ef98f740.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi banks dominated the online conversation about the GCC banking <\/strong><strong>sector<\/strong>, with local consumers the most active and vocal, accounting for 83.3% of total conversation on social media, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2371.pdf\" style=\"\" rel=\"noopener\">the KPMG GCC Banking sentiment index (pdf)<\/a>. Saudi bank clients dominated the conversation thanks in part to our large population and widespread internet access.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For the W:<\/strong> Solid operations accounted for 30% positive mentions of Saudi banks, followed by Kuwait at 19.1%, Oman (18.1%), UAE (16.5%), Qatar (9.7%), and Bahrain (7.5%). Local lenders ranked fourth in terms of reputational sentiment at 16.3% with positive reputational drivers including financial news, loan products, CSI activities and others. They also received the most positive feedback for their online applications.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For the L:<\/strong> Banks here and the UAE saw the highest volume of customer service-related complaints among their GCC peers. Complaints mainly concentrated on service downtime, transfer delays, and long waiting times. Negative sentiment came in second after the UAE, where 24.2% of online conversation focused on client frustration with issues including the speed of online apps and quality of services received.<\/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\/banking\/\">BANKING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/banks\/\">Banks<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/kpmg\/\">KPMG<\/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=\"84785\" 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=\"84785\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/robust-non-oil-growth-this-year-with-inflation-peaking-at-2-in-2h-2024-capital-economics\/\">\r\n                            Robust non-oil growth this year, with inflation peaking at 2% in 2H 2024 \u2014 Capital Economics                        <\/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\/27\/robust-non-oil-growth-this-year-with-inflation-peaking-at-2-in-2h-2024-capital-economics\/\" 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\/27\/robust-non-oil-growth-this-year-with-inflation-peaking-at-2-in-2h-2024-capital-economics\/')\">\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\/27\/robust-non-oil-growth-this-year-with-inflation-peaking-at-2-in-2h-2024-capital-economics\/\">\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=Robust non-oil growth this year, with inflation peaking at 2% in 2H 2024 \u2014 Capital Economics&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/robust-non-oil-growth-this-year-with-inflation-peaking-at-2-in-2h-2024-capital-economics\/\">\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\/27\/robust-non-oil-growth-this-year-with-inflation-peaking-at-2-in-2h-2024-capital-economics\/&title=Robust non-oil growth this year, with inflation peaking at 2% in 2H 2024 \u2014 Capital Economics\">\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=Robust+non-oil+growth+this+year%2C+with+inflation+peaking+at+2%25+in+2H+2024+%E2%80%94+Capital+Economics+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F27%2Frobust-non-oil-growth-this-year-with-inflation-peaking-at-2-in-2h-2024-capital-economics%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\/27\/robust-non-oil-growth-this-year-with-inflation-peaking-at-2-in-2h-2024-capital-economics\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1610.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84786\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/robust-non-oil-growth-this-year-with-inflation-peaking-at-2-in-2h-2024-capital-economics\/1610-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1610.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1610.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1610.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1610.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84785\" class=\"content-area-description single-story post-84785 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-capital-economics tag-consumer-prices tag-economy tag-enterpriseam-ksa tag-inflation tag-oil 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\/.a4750896-16bf-4599-acbb-dbb87f12f9fc.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The non-oil economy should grow a solid 5% this year<\/strong>, Mubasher reports citing <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2v8du4w3\" style=\"\" rel=\"noopener\">a note by Capital Economics<\/a>. This will be fuelled by increased investments by the Public Investment Fund, which plans to ramp up annual deployment capacity to USD 70 bn a year starting 2026. <strong>Meanwhile, GDP is forecasted to expand at a 2.8% clip in 2024.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflation is set to rise slightly in the second half of the year to reach a peak of a little over <\/strong><strong>2%<\/strong> on an annual basis, Capital Economics said, adding that price pressures would still remain relatively low. Inflation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ff77a08e-1a4d-48c2-b937-55bede915018\/consumer-prices-rose-again-in-february\" style=\"\" rel=\"noopener\">inched up<\/a> to 1.8% y-o-y in February 2024, marking a second consecutive monthly rise after January\u2019s reading interrupted a seven-month downward trend<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A key risk: <\/strong>Capital Economics warned of a major risk to the economy in case of a sudden plunge in oil prices under USD 70 a barrel. This would push the government to turn towards fiscal austerity instead of withdrawing from foreign reserves to alleviate pressure on the local currency\u2019s peg to the greenback.<\/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\/capital-economics\/\">Capital Economics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/consumer-prices\/\">consumer prices<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/inflation\/\">Inflation<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84787\" 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=\"84787\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/cenomi-centers-delivers-a-strong-performance-in-2023\/\">\r\n                            Cenomi Centers reports solid 2023 results, a record high footfall rate                        <\/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\/27\/cenomi-centers-delivers-a-strong-performance-in-2023\/\" 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\/27\/cenomi-centers-delivers-a-strong-performance-in-2023\/')\">\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\/27\/cenomi-centers-delivers-a-strong-performance-in-2023\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Cenomi Centers delivers a strong performance in 2023&url=https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/cenomi-centers-delivers-a-strong-performance-in-2023\/\">\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\/27\/cenomi-centers-delivers-a-strong-performance-in-2023\/&title=Cenomi Centers delivers a strong performance in 2023\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Cenomi+Centers+delivers+a+strong+performance+in+2023+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F27%2Fcenomi-centers-delivers-a-strong-performance-in-2023%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\/27\/cenomi-centers-delivers-a-strong-performance-in-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84788\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/cenomi-centers-delivers-a-strong-performance-in-2023\/263-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"263.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84787\" class=\"content-area-description single-story post-84787 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-cenomi-centers tag-earnings-watch tag-enterpriseam-ksa tag-lumi-rental tag-retail 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\/.2f5fb77a-b0d7-4619-bdeb-61b6178f7b3b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Our friends at Cenomi Centers recorded a 49% y-o-y surge in net income <\/strong><strong>to SAR 1.5 bn in 2023<\/strong>, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2332.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues were up 2% y-o-y to SAR 2.3 bn in the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis, <\/strong>the bottom line rose 24% y-o-y to SAR 482 mn in 4Q 2023, while the top line inched down 1.3% y-o-y to SAR 544 mn, according to <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/financial-reports\/company-report\/4638\/2023\/1?preview=true\" style=\"\" rel=\"noopener\">data seen by Argaam<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth drivers: <\/strong>The retail giant attributed the strong report to a mix of 3.8% y-o-y growth in net rental revenue to SAR 2.1 bn; 8.8% y-o-y growth in media sales to SAR 89 mn; and income from the sale of non-core franchise brands, as well as s from property investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cenomi reported record-high footfall across its portfolio with 124 mn visitors last year<\/strong> \u2014 a 19% y-o-y increase. Occupancy rates came in at 93% in 2023. Some 63 new brands were onboarded to Cenomi\u2019s malls portfolio, bringing the total to 160 by the end of last year. The new brands include Samsonite, Dyson, the inaugural Starbucks Reserve in Jeddah Park, and LuLu Hypermarket. Also on the occupancy front: U Walk Jeddah has a pre-let rate of 80%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The lifestyle destinations operator and developer has six projects in the pipeline that it expects will raise its total gross leased area (GLA) by 44% to around 2 mn sqm by 2027. \u201cCenomi Centers\u2019 has a robust pipeline with six flagship and lifestyle centers underway including flagships Jawharat Riyadh and Jawharat Jeddah set to open next year and Jawharat Al Khobar in 2027, delivering unique and differentiated premium shopping experiences,\u201d said CEO Alison Rehill-Erguven.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Boosting shareholder returns: <\/strong>The company will distribute a dividend of SAR 356 mn at SAR 0.75 per share for 2023 to eligible shareholders on Tuesday, 16 April, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzQzMjEvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4OTU5\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Meanwhile, Cenomi has approved a dividend policy which will see it pay SAR 0.38 per share on a quarterly basis for one year starting 2Q 2024, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzQzMjEvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4OTYw\/\" style=\"\" rel=\"noopener\">separate disclosure<\/a>. <\/p>\n<p class=\"tag-border-left\">LUMI + KINGDOM HOLDING ALSO REPORT RESULTS<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Car rental firm Lumi reported an 11.8% <\/strong><strong>y-o-y<\/strong><strong> rise in net income to SAR 160.6 mn<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lU_RUsIwEPwWP8DJQYe0PkarpU6BloJAX5yQntAZ2nTSFMWvt6HMICgOZu7h9rK3u0cSMidJwbfZiutMFnzT4EVCX3uMQrfvwAj6kwegEHt0OnE6bpeS2SnBGXgUoiGLRl27B94LkORf-xCHPYiewoEVwBg8oNftw4XHrvBPTikjdmc3CZ7vPT9glkPtc8IvJ56Z_LxhT_gjZIzF_hL7YlS_Q2YKK1krgWS8Qs2KQtaFwBwLHWSVdrnmJBJcrDHALW5CvkISG2uebrNKqsqwyMJMKhRaKrf00wPe5Uu5aftSybQWerIrsR1o2Ugf-rIRjbPPBnWgFeJKrI9c8z-s8yUqd0kWlhm9KZkfBbhJLUzmbwb4oeO9UIvThh2iyqRJV-bT6Rwy_9Z5f7Ry57TYzc0X8y6GgA!!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzQyNjIvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4OTQx\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Its revenues were up 41.3% y-o-y to SAR 1.1 bn in the same period. It attributed the growth in net income to higher sales which were driven by an increase in lease, rental and used car sales revenue.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Lumi <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-25\/lumi-rental-jumps-30-on-debut-after-290-million-saudi-ipo\" style=\"\" rel=\"noopener\">went public in September 2023<\/a> after raising USD 290 mn in one of the region\u2019s biggest IPOs last year. The six-month lockup for pre-IPO shareholders <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0db9eca2-7333-4887-898a-b95c14cb4ef0\/saudi-private-sector-adds-1.1-mn-jobs-in-2023,-women-are-now-37%2525-of-the-workforce\" style=\"\" rel=\"noopener\">expired earlier this week<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Kingdom <\/strong><strong>Holding\u2019s<\/strong><strong> net income fell 85.4% <\/strong><strong>y-o-y<\/strong><strong> to SAR 1 bn<\/strong>, while revenues were up 8.5% y-o-y to SAR 2.7 bn, 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\/lVBNT8JAEP0tHjjCTGko1dsqsWCQDwsKvZDtdihN2m6z3YL4622pkYBicLOHnbfvvXkz4MECvJRvo5DrSKY8LuulZ606zMJ238Yx9mcPaKHrWPOZbfTaFrydEuxnx8LpiE3H7W4HnVcE7196dCcdnD5Ons0hvqCD1nV6vHDYFf29U8qY3XbLBE_3zmDITNvqnhN-GfGsyc8ZDoQ_Qj6BF8bSrxfOUt-0Q_AUrUmRahWqhDdaZ_ldAxu42-1aoZRhTC0hkwb-JtnIXMPilAkupYd1dS_uY2DAm6JcFkoQvISkWZrKIhWUUKqHUa57XHOYCi42NKQtxRMeErjVfDzYRrlUecWCZdOosJyElqqXDYJvZJ_4MoZl9c6UDAqhZ_uMakDL0v7rnZXGbvRRVgbWVlyJzZFb_Y-KxCfV82HZrqC1ksnRgFfJRZW7FhmrOoGmd-0ezGpeUCompCJZZoQsmc8XGA2anr83zYQltnl6d-zmE9fOPEQ!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MjgwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4OTY3\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. It said the swing in net income owed in part to a tough comparable, as the FY 2022 figure included one-off gains from the sale of part of its stake in Four Season Holdings. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bottom line in 2023 also came under pressure from a rise in operating costs<\/strong> at its hotels, financial charges and general, administrative and marketing expenses. Separately, the investment firm has recommended a dividend payout of SAR 1 bn at SAR 0.28 per share for FY 2023, 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\/lVBNT8JAEP0tHjjCTGko1dsqsWCQDwsKvZDtdihN2m6z3YL4622pkYBicLOHnbfvvXkz4MECvJRvo5DrSKY8LuulZ606zMJ238Yx9mcPaKHrWPOZbfTaFrydEuxnx8LpiE3H7W4HnVcE7196dCcdnD5Ons0hvqCD1nV6vHDYFf29U8qY3XbLBE_3zmDITNvqnhN-GfGsyc8ZDoQ_Qj6BF8bSrxfOUt-0Q_AUrUmRahWqhDdaZ_ldAxu42-1aoZRhTC0hkwb-JtnIXMPilAkupYd1dS_uY2DAm6JcFkoQvISkWZrKIhWUUKqHUa57XHOYCi42NKQtxRMeErjVfDzYRrlUecWCZdOosJyElqqXDYJvZJ_4MoZl9c6UDAqhZ_uMakDL0v7rnZXGbvRRVgbWVlyJzZFb_Y-KxCfV82HZrqC1ksnRgFfJRZW7FhmrOoGmd-0ezGpeUCompCJZZoQsmc8XGA2anr83zYQltnl6d-zmE9fOPEQ!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MjgwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4OTcx\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Seera Group turned to profitability in FY 2023 to report a net income of SAR 265 mn <\/strong>versus a net loss of SAR 46 mn a year earlier, the leading travel agency group said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzE4MTAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4OTU3\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Its revenues jumped 55.7% y-o-y to SAR 3.3 bn. Its net booking value was up 35% y-o-y to SAR 12.5 bn to record its highest net booking value in its 40+ history.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Saudi Re\u2019s net income grew 63.6% <\/strong><strong>y-o-y<\/strong><strong> to SAR 124.4 mn in 2023<\/strong>, while revenues were down 10% y-o-y to SAR 627.2 mn, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNT8JAEP0tHjjCTGko1dsqsWCQDwsKvZDtdihN2m6z3YL4622pkYBicLOHnbfvvXkz4MECvJRvo5DrSKY8LuulZ606zMJ238Yx9mcPaKHrWPOZbfTaFrydEuxnx8LpiE3H7W4HnVcE7196dCcdnD5Ons0hvqCD1nV6vHDYFf29U8qY3XbLBE_3zmDITNvqnhN-GfGsyc8ZDoQ_Qj6BF8bSrxfOUt-0Q_AUrUmRahWqhDdaZ_ldAxu42-1aoZRhTC0hkwb-JtnIXMPilAkupYd1dS_uY2DAm6JcFkoQvISkWZrKIhWUUKqHUa57XHOYCi42NKQtxRMeErjVfDzYRrlUecWCZdOosJyElqqXDYJvZJ_4MoZl9c6UDAqhZ_uMakDL0v7rnZXGbvRRVgbWVlyJzZFb_Y-KxCfV82HZrqC1ksnRgFfJRZW7FhmrOoGmd-0ezGpeUCompCJZZoQsmc8XGA2anr83zYQltnl6d-zmE9fOPEQ!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC84MjAwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4OTY4\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> <strong>.<\/strong><\/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\/cenomi-centers\/\">Cenomi Centers<\/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\/lumi-rental\/\">Lumi Rental<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/retail\/\">Retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84789\" 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=\"84789\">\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\">MINERALS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/energy-transition-minerals-in-spotlight-as-riwaq-inks-jv-with-uks-power-metals-to-explore-arabian-shield\/\">\r\n                            Energy transition minerals in spotlight as Riwaq inks JV with UK\u2019s Power Metals to explore Arabian Shield      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  <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2360.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84790\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/energy-transition-minerals-in-spotlight-as-riwaq-inks-jv-with-uks-power-metals-to-explore-arabian-shield\/2360-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2360.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2360.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2360.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2360.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84789\" class=\"content-area-description single-story post-84789 post type-post status-publish format-standard has-post-thumbnail hentry category-minerals tag-critical-minerals tag-enterpriseam-ksa tag-minerals 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\/.90d628f8-e56f-45f5-930c-37e212aeb3c0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UK\u2019s Power Metals Resources + Saudi\u2019s Riwaq to cooperate on minerals <\/strong><strong>exploration in Saudi<\/strong><strong>:<font face=\"Arial\">&nbsp;<\/font><\/strong>Saudi\u2019s <a target=\"_blank\" href=\"https:\/\/riwaq.com.sa\/\" style=\"\" rel=\"noopener\">Riwaq Al Mawarid for Mining (Riwaq)<\/a> \u2014 a subsidiary of Australian battery chemicals and technology company EV Metals Group (EVM) \u2014 has signed a binding earn-in joint venture agreement with UK exploration company <a target=\"_blank\" href=\"https:\/\/www.powermetalresources.com\/\" style=\"\" rel=\"noopener\">Power Metals Resources<\/a> to expand EVM's exploration activities in the Arabian Shield, according to a <a target=\"_blank\" href=\"https:\/\/www.evmetalsgroup.com\/newsroom\/ev-metals-group-plc-subsidiary-riwaq-al-mawarid-for-mining-signs-earn-in-joint-venture-agreement-with-uk-listed-power-metals-resources-plc\/\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are they looking for? <\/strong>Lithium, nickel, and copper \/ molybdenum \u2014 all are critical for battery manufacturing and the energy transition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Riwaq holds legal ownership of 15 tenements covering 1487 sq km, with exploration licenses already granted for 11 and another four pending. Power Metals will invest USD 350k within 12 months to earn a 20% stake in the tenements and could go up to 30% with a follow-on investment. They plan to form a JV later to continue exploration. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Saudi recently completed an analysis on 88k geochemical samples from <\/strong><strong>the Arabian Shield: <\/strong>The Saudi Geological Survey (SGS) completed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/839c5c06-f588-4795-b3a0-1b0e9dd4e283\/egypt-signs-off-on-green-hydrogen-incentives-and-the-results-are-in-from-ksa%25e2%2580%2599s%253cmark%253e-arabian-shield-%253c%2Fmark%253escan\" style=\"\" rel=\"noopener\">geochemical analysis on 88k samples from the Arabian Shield<\/a> after a scanning 540k sq km in the region in a bid to identify investment locations for mining companies worldwide in February. SGS analyzed 76 elements per geochemical sample and final results will be fed into the country\u2019s National Geological Database. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Power Metals Resources:<\/strong> Power Metals Resources is a London-based metals exploration and development company, focused on financing and managing global resource projects to uncover significant metal discoveries. The company currently has active projects in Australia, Botswana, Canada, Tanzania and the US, according to its <a target=\"_blank\" href=\"https:\/\/www.powermetalresources.com\/\" style=\"\" rel=\"noopener\">website<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/critical-minerals\/\">critical minerals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/minerals\/\">MINERALS<\/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=\"84791\" 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=\"84791\">\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\">CABINET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/cabinet-gets-down-to-business-in-third-meeting-in-ramadan\/\">\r\n                            Cabinet approves rules for handling requests by public entities looking to form JVs                        <\/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\/27\/cabinet-gets-down-to-business-in-third-meeting-in-ramadan\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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No further details were provided on the decision. It said the government will bear visa costs for seasonal workers brought in for the livestock sacrifice program Adahi during Hajj.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gaza also gets a mention:<\/strong> The Cabinet welcomed a UN Security Council resolution calling for an immediate ceasefire in Gaza during Ramadan. This comes one day after the Foreign Ministry welcomed the resolution, the first since similar resolutions were vetoed by the US since Israel\u2019s war on Gaza in October.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also approved at yesterday\u2019s Cabinet meeting:<\/strong><\/p>\n<ul>\n<li>Mandating the <strong>Investment Minister<\/strong> to discuss and sign a MoU with the World Bank\u2019s private investment arm <strong>International Finance Corporation<\/strong> (IFC);<\/li>\n<li>Mandating the <strong>Investment Minister<\/strong> to discuss and sign a MoU with <strong>Tunisia<\/strong> to <strong>promote FDIs<\/strong>;<\/li>\n<li>Mandating the <strong>Culture Minister<\/strong> to discuss and sign a MoU on <strong>cultural cooperation<\/strong> with <strong>Tajikistan<\/strong>;<\/li>\n<li>A MoU between the <strong>Environment, Water and Mineral Resources Ministry<\/strong> and <strong>Turkey<\/strong> in <strong>agricultural fields<\/strong>;<\/li>\n<li>A MoU between the Industry and Mineral Resources Ministry and Mauritanian counterparts in mining;<\/li>\n<li>A MoU between the Saudi Space Agency (SSA) and the Egyptian Space Agency (EgSA) in space activities for peaceful purposes;<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cabinet-watch\/\">CABINET WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n   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Plus: technology, aviation, and debt news                        <\/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\/27\/tamimi-energy-partners-up-with-dubai-based-positive-zero-to-expand-solar-capacity-plus-technology-aviation-and-debt-news\/\" 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\/27\/tamimi-energy-partners-up-with-dubai-based-positive-zero-to-expand-solar-capacity-plus-technology-aviation-and-debt-news\/')\">\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\/27\/tamimi-energy-partners-up-with-dubai-based-positive-zero-to-expand-solar-capacity-plus-technology-aviation-and-debt-news\/\">\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=Tamimi Energy partners up with Dubai-based Positive Zero to expand solar capacity. 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Plus: technology, aviation, and debt news\">\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=Tamimi+Energy+partners+up+with+Dubai-based+Positive+Zero+to+expand+solar+capacity.+Plus%3A+technology%2C+aviation%2C+and+debt+news+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F03%2F27%2Ftamimi-energy-partners-up-with-dubai-based-positive-zero-to-expand-solar-capacity-plus-technology-aviation-and-debt-news%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\/27\/tamimi-energy-partners-up-with-dubai-based-positive-zero-to-expand-solar-capacity-plus-technology-aviation-and-debt-news\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2406.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84795\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/tamimi-energy-partners-up-with-dubai-based-positive-zero-to-expand-solar-capacity-plus-technology-aviation-and-debt-news\/2406-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2406.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2406.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2406.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2406.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84794\" class=\"content-area-description single-story post-84794 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-aviation tag-debt-watch tag-energy tag-enterpriseam-ksa tag-renewables tag-riyadh-air tag-technology wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.f3e3267a-e517-4628-af43-5bf9276615f3.mp3\"><\/audio><\/figure><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>Tamimi Energy + Positive Zero partner on expanding solar <\/strong><strong>capacity<\/strong><strong> at<\/strong><strong> home: <\/strong>Subsidiaries of local <a target=\"_blank\" href=\"https:\/\/www.tamimienergy.com\/\" style=\"\" rel=\"noopener\">Tamimi Energy<\/a> and Dubai-based decarbonization firm <a target=\"_blank\" href=\"https:\/\/www.positivezero.com\/\" style=\"\" rel=\"noopener\">Positive Zero<\/a> have signed a partnership agreement to develop solar projects across the Kingdom, according to a <a target=\"_blank\" href=\"https:\/\/sirajpower.com\/positive-zero-and-tamimi-energy-join-forces-to-support-rapid-growth-of-saudi-clean-energy-market\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/sirajpower.com\/positive-zero-and-tamimi-energy-join-forces-to-support-rapid-growth-of-saudi-clean-energy-market\/\" style=\"\" rel=\"noopener\">statement<\/a>. The companies will work together to finance, develop and source talent and tech for commercial and industrial solar power solutions across the Kingdom<font face=\"Arial\">.<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Positive Zero just received a lot of funds to put towards decarbonization <\/strong><strong>projects:<\/strong> US-based investment giant BlackRock <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/8fe9e705-13ed-477d-9135-d10d32696df7\/uae%25e2%2580%2599s%253cmark%253e-positive-zero-%253c%2Fmark%253eis-getting-usd-400-mn-from-blackrock-for-decarbonization-efforts\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/8fe9e705-13ed-477d-9135-d10d32696df7\/uae%25e2%2580%2599s%253cmark%253e-positive-zero-%253c%2Fmark%253eis-getting-usd-400-mn-from-blackrock-for-decarbonization-efforts\" style=\"\" rel=\"noopener\">invested USD 400 mn<\/a> in Positive Zero through a diversified infrastructure fund. The investment allows Positive Zero to grow its sustainable energy adoption and offer fully financed sustainable energy solutions across the GCC which it has already begun doing in the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/123c70da-9926-41c3-a0b4-28ed13d8fe12\/uae-and-france-launch-climate-investment-platform\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/123c70da-9926-41c3-a0b4-28ed13d8fe12\/uae-and-france-launch-climate-investment-platform\" style=\"\" rel=\"noopener\">UAE<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/93cfd03d-1ec6-4ad4-9a13-cda3b136e8e1\/saint-gobain-10-mw-solar-powered-glass-factory-in-progress\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/93cfd03d-1ec6-4ad4-9a13-cda3b136e8e1\/saint-gobain-10-mw-solar-powered-glass-factory-in-progress\" style=\"\" rel=\"noopener\">Oman<\/a>.<\/p>\n<p class=\"tag-border-left\">TECHNOLOGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investment Ministry teams up with UK\u2019s Envada on digital transformation<\/strong><strong>:&nbsp;<\/strong>The Investment Ministry has inked an MoU with NYSE-listed software development company Envada to support the digital acceleration of government entities and leading private sector businesses by offering advisory services, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/saudi-ministry-of-investment-signs-mou-with-global-tech-leader-endava-to-accelerate-digital-advancement-in-the-kingdom-i64row8r\" style=\"\" rel=\"noopener\">statement<\/a>. Envada has a market cap of over USD 2 bn and a solid record in the logistics, retail, and payment solutions industries. <\/p>\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tam Development secures Sharia-compliant loan from Banque Saudi Fransi: <\/strong>Digital solutions consultancy firm <a target=\"_blank\" href=\"https:\/\/tam.sa\/\" style=\"\" rel=\"noopener\">Tam Development<\/a> signed a one-year Sharia-compliant banking facility agreement worth SAR 25 mn with Banque Saudi Fransi (BSF) to cater to multiple financing needs and facilitate the issuance of bank letters of guarantee, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/mr44sac3\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. <\/p>\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh Air is now part of the United Nations Global Compact (UNGC) initiative<\/strong> \u2014 a corporate sustainability initiative focused on promoting sustainable development goals, according to a <a target=\"_blank\" href=\"https:\/\/www.riyadhair.com\/en\/media-center\/riyadh-air-joins-united-nations-global-compact-with-the-intentio\" style=\"\" rel=\"noopener\">statement<\/a>. In a formal letter to UN Secretary General Antonio Guterres, the PIF-owned airline pledged to adhere to the UN Global Compact\u2019s ten principles on sustainable practices in environment, labor, and anti-corruption. The airline also plans to release its inaugural sustainability report prior to its inaugural flight scheduled for mid-2025.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/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\/riyadh-air\/\">Riyadh Air<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/technology\/\">Technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84796\" 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=\"84796\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/blackrocks-larry-fink-says-what-the-arab-world-already-knew-its-all-about-infrastructure-and-energy-pragmatism\/\">\r\n                            BlackRock\u2019s Larry Fink says what the Arab world already knew: It\u2019s all about infrastructure and \u201cenergy pragmatism.\u201d                        <\/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 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   <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2438.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84797\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/blackrocks-larry-fink-says-what-the-arab-world-already-knew-its-all-about-infrastructure-and-energy-pragmatism\/2438-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2438.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2438.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2438.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2438.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84796\" class=\"content-area-description single-story post-84796 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-blackrock tag-energy tag-enterpriseam-ksa tag-financial-markets tag-infrastructure tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.30962360-e4e5-4e3a-aecd-4366a585109d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Finance will be \u201ckey to addressing two of the mid-21st century\u2019s biggest economic <\/strong><strong>challenges,\u201d BlackRock boss Larry Fink writes <\/strong>in his annual letter to shareholders, zeroing in on infrastructure in general (and energy infrastructure in particular) and how to pay for retirement when a growing percentage of the world\u2019s population is aging. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters #1: <\/strong>Fink co-founded and leads a business that he\u2019s grown from an eight-person shop into the world\u2019s largest asset manager. His writing is cogent and he has consistently put a ton of effort into making his annual letter to shareholders into exercises in strategic thinking. He\u2019s not just his generation\u2019s Warren Buffett, in that sense \u2014 his notes are now scrutinized at least as carefully as the Oracle of Omaha\u2019s were back at the height of his influence. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters #2: <\/strong>Fink\u2019s past letters made climate change and \u201cstakeholder capitalism\u201d (as it is now trendy to call ESG investing) mainstream topics on Planet Finance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s in it for folks who live, do business, or invest in our part of the world? <\/strong>The infrastructure piece, right now. And the retirement issue, too \u2014 if we\u2019re smart. (More on the retirement bit in another Planet Finance column to come.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On infrastructure: <\/strong>Fink argues that \u201cas countries decarbonize and digitize their economies, they\u2019re supercharging demand for all sorts of infrastructure, from telecom networks to new ways to generate power. In fact, in my nearly 50 years in finance, I\u2019ve never seen more demand for energy infrastructure.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Citing trips to nearly 20 countries worldwide, he writes that countries \u201chave twin aims: <\/strong>They want to transition to lower-carbon sources of power while also achieving energy security.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>His solution will sound awfully familiar if you live in Egypt, Saudi Arabia, or the UAE: <\/strong>\u201cThe future of infrastructure is public-private partnership,\u201d he writes, and the adoption of an <strong>\u201cenergy pragmatism\u201d<\/strong> approach \u2014 embrace renewables, yes, but don\u2019t abandon the fossil fuels we need to cool our homes and grow our economies until the moment is right. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BlackRock is a big investor in both renewable energy and hydrocarbon companies<\/strong>, and Fink knows that pragmatism will expose him to arrows from both sides. His argument that energy pragmatism is the real \u201cpath to decarbonization\u201d will ring true to Saudi ears \u2014 and to folks in Germany and Texas, which he cites as examples of the policy in action. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Putting his money where his mouth is: <\/strong>BlackRock said in January that it was going after the USD 1 tn infrastructure market by acquiring Global Infrastructure Partners to create a \u201cworld-leading infrastructure private markets investment platform.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Read for yourself:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/www.blackrock.com\/corporate\/investor-relations\/larry-fink-annual-chairmans-letter\" style=\"\" rel=\"noopener\">Fink\u2019s letter is online here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Read what others are saying:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/38fcdd1f-481a-44b8-8f0d-e1c0a39cdc55\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/investing\/blackrock-larry-fink-annual-letter-8484e68e\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/03\/26\/business\/dealbook\/blackrock-fink-letter-retirement.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.businessinsider.com\/retirement-crisis-social-security-savings-401k-genz-investing-blackrock-fink-2024-3\" style=\"\" rel=\"noopener\">Business Insider<\/a> <\/p>\n<p class=\"tag-border-left\"> THE MARKET THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mostly in the red this morning<\/strong>, with just the Nikkei bucking the trend. US stock futures are edging higher after the S&amp;P 500 recorded its third straight day of losses, suggesting there\u2019s a chance it will break into the green today. Futures for major European benchmarks trended mostly lower overnight. <\/p>\n<p><a target=\"_blank\" id=\"t.3e6c41b1037000209e231cabfb67bdfd019a6127\" 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\">12,586<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +5.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,590<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +2.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">26,658<\/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% (YTD: +8.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6.5% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">29,058<\/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% (YTD: +17%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,319<\/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\">-0.01% (YTD: -2.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,246<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&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\">5,216<\/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\">+0.04% (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\">+0.17% (YTD: +2.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,064<\/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: +12%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 86.1<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.75%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 1.6<\/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\">-2.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,178<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 70,176<\/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% (YTD: +160%)<\/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 0.7% <strong>yesterday <\/strong>on turnover of SAR 9.9 bn. The index is up 5.2% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Saudi Cable (+9.9%), Mouwasat (+8%) and Al Baha (+7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Alkhaleej Training (-9.9%), Riyad REIT (-7.9%) and Saudi Ground Services (-7.3%).<\/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 2% <strong>yesterday <\/strong>on turnover of SAR 656.6 mn. The index is up 9% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Tam Development (+9%), Al Babtain Food (+7.5%) and Fadeco (+6.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Jahez (-10.3%), Ghida AlSultan (-9.9%) and Lana (-9.6%)<\/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>Alinma Bank will hike its capital to SAR 25 bn<\/strong><strong>, up from SAR 20 bn <\/strong>through issuing one bonus share for every four shares, a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3518.aspx\" style=\"\" rel=\"noopener\">statement by the CMA<\/a> read. This will be financed through retained earnings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Arab National Bank\u2019s BoD has recommended a share buyback of up to 5 mn <\/strong><strong>shares&nbsp;<\/strong>for allocation to its employee stock ownership program (ESOP), 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\/lVBNT8JAEP0tHjjCTGko1dsqsWCQDwsKvZDtdihN2m6z3YL4622pkYBicLOHnbfvvXkz4MECvJRvo5DrSKY8LuulZ606zMJ238Yx9mcPaKHrWPOZbfTaFrydEuxnx8LpiE3H7W4HnVcE7196dCcdnD5Ons0hvqCD1nV6vHDYFf29U8qY3XbLBE_3zmDITNvqnhN-GfGsyc8ZDoQ_Qj6BF8bSrxfOUt-0Q_AUrUmRahWqhDdaZ_ldAxu42-1aoZRhTC0hkwb-JtnIXMPilAkupYd1dS_uY2DAm6JcFkoQvISkWZrKIhWUUKqHUa57XHOYCi42NKQtxRMeErjVfDzYRrlUecWCZdOosJyElqqXDYJvZJ_4MoZl9c6UDAqhZ_uMakDL0v7rnZXGbvRRVgbWVlyJzZFb_Y-KxCfV82HZrqC1ksnRgFfJRZW7FhmrOoGmd-0ezGpeUCompCJZZoQsmc8XGA2anr83zYQltnl6d-zmE9fOPEQ!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8xMDgwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc4OTcw\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The share buyback will be self-funded. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Budget Saudi\u2019s BoD has recommended a dividend payout of SAR 71.2 mn<\/strong> to its shareholders at SAR 1 per share for 2023, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc55b28v\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The distribution date is yet to be announced.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Shareholders of Y<\/strong><strong>amama Cement have approved a dividend payout of SAR 202.5 mn&nbsp;<\/strong>at SAR 1 a share for 2023, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2p32adxc\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. Dividends will be distributed on Sunday, 21 April.<\/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\/blackrock\/\">BlackRock<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n           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href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/crown-prince-discusses-saudi-us-cooperation-with-us-armed-services-committee-chairman\/\">\r\n                            Crown Prince discusses Saudi-US cooperation with US Armed Services Committee Chairman                        <\/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\/27\/crown-prince-discusses-saudi-us-cooperation-with-us-armed-services-committee-chairman\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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          <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2420.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84799\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/27\/crown-prince-discusses-saudi-us-cooperation-with-us-armed-services-committee-chairman\/2420-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2420.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2420.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2420.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2420.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84798\" class=\"content-area-description single-story post-84798 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-crown-prince tag-diplomacy tag-enterpriseam-ksa tag-mike-rogers tag-russian-state-duma tag-shura-council 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\/.d97b8e71-31fe-47fc-97a2-20b32f014982.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Crown Prince Mohammed bin Salman discussed avenues for cooperation between Saudi<\/strong><strong>and the US<\/strong> during a meeting with US House Armed Services Committee Chairman Mike Rogers, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2073642\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Shura Council Speaker Abdullah Al Sheikh has been invited to visit Russia <\/strong><strong>for talks with <\/strong><strong>counterparts in Moscow<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2073860\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. The invitation was extended by Russian State Duma Speaker Vyacheslav Volodin through Russia\u2019s Ambassador in Saudi, Sergey Kozlov.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Russia is eying joint parliamentary cooperation with Saudi:<\/strong> Volodin made his first visit to the Kingdom last month, where he <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/eebca1aa-daff-4acd-9c38-b95731f69ba4\/It%E2%80%99s-all-about-Gaza-in-Geneva\" style=\"\" rel=\"noopener\">discussed prospects<\/a> of joint parliamentary cooperation with Crown Prince Mohammed bin Salman. He also put forward a proposal that Saudi Arabia and Russia sign an inter-parliamentary agreement during a meeting with the Shura Council\u2019s Al Sheikh.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> OTHER DIPLO NEWS-<\/p>\n<ul>\n<li>Foreign Minister <strong>Prince Faisal bin Farhan<\/strong> discussed <strong>developments <\/strong>in <strong>Gaza <\/strong>during a phone call with <strong>French counterpart<\/strong> Stephane Sejourne. (<a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2074000\" style=\"\" rel=\"noopener\">SPA<\/a> <strong>) <\/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\/crown-prince\/\">Crown Prince<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mike-rogers\/\">Mike Rogers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/russian-state-duma\/\">Russian State Duma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/shura-council\/\">Shura Council<\/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=\"84800\" 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\/27\/84800\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84800\" class=\"content-area-description single-story post-84800 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>A Saudi Miss Universe contestant | M&#038;A + IPO standings | CMC eyes main market | Cenomi\u2019s strong results<\/p>\n","protected":false},"featured_media":84776,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-84775","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"739e70d4-791a-43ad-9ffe-a672a793f025","teaser":"A Saudi Miss Universe contestant | M&A + IPO standings | CMC eyes main market | 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