{"id":85096,"date":"2024-04-07T00:00:00","date_gmt":"2024-04-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=85096"},"modified":"2025-12-14T17:49:43","modified_gmt":"2025-12-14T17:49:43","slug":"big-tennis-win-for-the-kingdom","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/big-tennis-win-for-the-kingdom\/","title":{"rendered":"Big tennis win for the Kingdom"},"content":{"rendered":"<section id=\"85098\" 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=\"85098\">\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\/04\/07\/riyad-capital-is-eyeing-a-tadawul-ipo\/\">\r\n                            USD 3 bn Saudi investment program for Iraq + Saudi eyes distressed Chinese real estate companies                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/riyad-capital-is-eyeing-a-tadawul-ipo\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Like others across the Kingdom and the Muslim world, we\u2019ll be looking skyward tomorrow evening to see the Shawwal crescent that signals the end of Ramadan and the beginning of Eid Al Fitr. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have a meaty issue for you this morning <\/strong>before we send you off on vacation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Businesses will be off for Eid Al Fitr from <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/ministry-of-human-resources-and-social-development-ksa_aehaeyaexabraepaesaepaefaezabraepaesaetaeqaepaezaer-activity-7177288861096566784-onM4?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">Tuesday, 9 April, through Friday, 13<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/ministry-of-human-resources-and-social-development-ksa_aehaeyaexabraepaesaepaefaezabraepaesaetaeqaepaezaer-activity-7177288861096566784-onM4?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">April<\/a>, while banks and the stock market are from today and back on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/617757b3-5a94-4c5d-ba91-5dc52691ab50\/sama-confirms-founding-day,%253cmark%253e-eid-%253c%2Fmark%253eholidays-%2B-ramadan-work-hours\" style=\"\" rel=\"noopener\">Sunday, 14 April<\/a>..<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PROGRAMMING NOTE- This is our only issue this week. <\/strong>EnterpriseAM Saudi will be off for the rest of the week for Eid \u2014 we look forward to being back in your inboxes before 7am on Sunday, 14 April. We hope you\u2019re looking forward to a beautiful break with family and friends.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Tap or click here to read this section with all of the links <\/strong>to our background stories as well as external sources.<\/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=\"wwtt1\"><\/a>  <strong>#1- IPO WATCH- Riyad Capital may be on the verge of an IPO: <\/strong>PIF-backed lender Riyad Bank is considering the listing of its investment banking arm <a target=\"_blank\" href=\"https:\/\/www.riyadcapital.com\/\" style=\"\" rel=\"noopener\">Riyad Capital<\/a>, the Kingdom\u2019s third largest bank by assets said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWlQQ3WFEjI-IEiPOxgw6jiQwQ3CU-PeOusL46q7tubc3BQIxEEEvKacqlYJmut8QZ2t7DjZHLs6DYdPHxbDbXwz8wMJJG9Z1AKPQ1kA4a01xiQE6QP7R44fy8LeefEWCzivwJuID-JJhDIRnMnn-wxNJy-VASnZgJSvNc6nHR6WKU89AA6uqMrmUPGPmTuYGvpMc5UlBXCfv3N3lYaLonlbnTKuJXhVUXKNrnkh9yEILIWICinwVYxrma1fZSdtr3AAAY_MO\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTI4OC9jb21wYW55U3ltYm9sLzEwMTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawu<\/a> l. Both Riyad Bank and Riyad Capital will conduct \u201can assessment and preparation including determining the size, structure and the other relevant details of the IPO,\u201d the disclosure read without providing further details. The transaction would also require regulatory approval.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first spin-off of its kind: <\/strong>An IPO would see Riyad Capital operate as a distinct unit from its parent company, making Riyad Bank the first local lender to spin-off its investment banking unit.. EFG Hermes banking analyst Shabbir Malik tells <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/pif-backed-riyad-bank-says-board-considers-ipo-investment-banking-unit-2024-04-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> he believes the bank is pushing with a plan to monetise a unit whose value is \u201cnot [clearly] reflected at the moment.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who owns what? <\/strong>The PIF owns a 21.8% stake in Riyad Bank, while the government holds a 10.4% stake.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#2-<\/strong><strong> Saudi is launching a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2310276\/business-economy\" style=\"\" rel=\"noopener\">USD 3 bn vehicle to invest<\/a><\/strong><strong> in industries across Iraq. <\/strong>Dubbed the Saudi-Iraq Investment Co, the company will pursue transactions in the \u201cinfrastructure, mining, agriculture, real estate development and financial services\u201d sectors. The company, announced late yesterday, mirrors similar outfits set up to pursue investment in Egypt, Oman, Bahrain, Sudan, and Jordan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>Saudi in February pledged <a target=\"_blank\" href=\"https:\/\/english.aawsat.com\/home\/article\/1175051\/saudi-arabia-pledges-15-billion-help-rebuild-iraq\" style=\"\" rel=\"noopener\">USD 1.5 bn to help Iraq rebuild<\/a>, including USD 1 bn in finance through the Saudi Fund for Development and another USD 500 mn in export credit. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#3- Saudi, GCC funds eye China\u2019s distressed real estate sector: <\/strong>Gulf investment funds are in talks to acquire stakes in distressed Chinese real estate developers, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/04\/04\/article_2715566.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> reported last week, citing sources close to the matter. Investors from Saudi, Qatar, and Kuwait are in advanced talks, the newspaper writes, saying the transactions could prove interesting entry points into the massive Chinese market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi sovereign wealth fund Mubadala and the Abu Dhabi Investment Authority are <\/strong><strong>already there:<\/strong> They joined a consortium of investors led by Hong Kong-based private equity giant PAG <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/2914b5d6-d173-4cb9-8b71-ef3825fb7990\/mubadala,-adia-invest-in-chinese-mall-unit\" style=\"\" rel=\"noopener\">in February<\/a> for a USD 8.3 bn investment in the mall unit of Chinese property giant Dalian Wanda, taking a 60% stake.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- The Chinese real estate sector has been hit by crises since the <\/strong><strong>pandemic<\/strong> after a liquidity crunch triggered by a regulatory crackdown on high leverage among developers. Housing starts \u2014 a measure of new residential construction \u2014 fell by over 60% in comparison with pre-pandemic levels, with sales taking a hit on concerns that developers will not be able to complete projects due to a lack in funding, according to the <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2024\/02\/02\/cf-chinas-real-estate-sector-managing-the-medium-term-slowdown\" style=\"\" rel=\"noopener\">IMF in February<\/a>.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a>  <strong>#4- STC Pay is turning into a digital bank: <\/strong>Saudi Telecom\u2019s e-wallet business <a target=\"_blank\" href=\"https:\/\/stcpay.com.sa\/\" style=\"\" rel=\"noopener\">STC Pay<\/a> received Saudi Central Bank (Sama) approval to transition into a digital bank and will brand itself as STC Bank, it said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/stcpay_ksa\/status\/1775816830843560069\" style=\"\" rel=\"noopener\">post on X<\/a> last week. The beta launch will see a number of selected users\u2019 digital wallets upgraded into a full-service bank accounts. STC Bank will offer Shariah-compliant banking services and solutions to its clients, with a full launch of the digital bank planned this year, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About STC Pay: <\/strong>Established in 2018, STC Pay became the first Sama-licensed fintech company, emerging to become the GCC\u2019s largest e-wallet with 12 mn customers. It recently obtained Sama\u2019s approval to turn into a digital bank.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Aramco, and Shell are going head-to-head in negotiations for Temasek\u2019s <\/strong><strong>Pavilion Energy LNG <\/strong><strong>assets<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/shell-aramco-final-stage-pavilion-energy-talks-sources-2024-04-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported last week. The interest in the assets, which could bring in over USD 2 bn, comes as Aramco looks to increase its exposure to LNG after <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2023\/aramco-to-enter-global-lng-business-by-acquiring-stake-in-midocean-energy\" style=\"\" rel=\"noopener\">marking its entry<\/a> into the business with a minority stake acquisition in MidOcean Energy last year. Aramco wants to boost its total natgas production by over 60% by 2030.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#6- Five investors were hit with SAR 44.9 mn in fines and orders for repayment&nbsp;<\/strong>after an appeals committee by the Capital Market Authority (CMA) upheld a finding they had engaged in insider trading in the listing of Watani Steel, the market watchdog said in a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/NEWS\/Pages\/CMA_N_3531.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. The CMA said four of the investors executed a number of transactions before and after the listing of Watani Steel, raising their ownership in the steel producer without a required disclosure to Tadawul and shareholders. The fifth investor was also engaged in influencing the company\u2019s share price on WhatsApp.<\/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>Aramco has hiked the <\/strong><strong>official selling price (OSP) of its flagship Arab Light <\/strong><strong>crude oil to <\/strong><strong>Asian<\/strong><strong> buyers in May<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-05\/saudi-arabia-hikes-key-oil-prices-further-as-market-tightens\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported on Friday, citing a price list it has seen. The oil giant raised OSP for Asian buyers by USD 0.3 to USD 2.00 premium to the Oman\/Dubai average. The raise, which is the second consecutive for the grade, beat expectations of a USD 0.1 hike forecast by refiners and traders earlier. It comes amid tighter Middle Eastern crude markets, OPEC+ voluntary production cuts and an increased consumption by several producers in the region. <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-arabia-raises-may-crude-oil-osps-asian-med-buyers-2024-04-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> also had coverage.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Pakistani PM Shehbaz Sharif is in town for talks with Crown Prince <\/strong><strong>Mohammed bin <\/strong><strong>Salman<\/strong>, the Pakistani Foreign Affairs Ministry said in a <a target=\"_blank\" href=\"https:\/\/mofa.gov.pk\/press-releases\/curtain-raiser-prime-ministers-visit-to-saudi-arabia\" style=\"\" rel=\"noopener\">statement<\/a> on Friday. This is Sharif\u2019s first foreign visit since he was <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/world-asia-68462846\" style=\"\" rel=\"noopener\">reelected PM<\/a> in March.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-&nbsp;<\/strong>Saudi has been among key backers of the crisis-hit Pakistan, which is struggling from depleted foreign reserves. The Kingdom has <a target=\"_blank\" href=\"https:\/\/www.arabnews.pk\/node\/2417451\/pakistan\" style=\"\" rel=\"noopener\">extended the term<\/a> of a USD 3 bn in deposit at the State Bank of Pakistan for an additional year, maturing in December this year. The country also <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/saudi-arabia-deposits-2-bln-pakistan-central-bank-account-pakistan-finance-2023-07-11\/\" style=\"\" rel=\"noopener\">received last year USD 2 bn<\/a> in financial assistance from the Kingdom to shore up finances.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** So, when do we eat?<\/strong> Maghrib prayers are at 6:12pm in Riyadh and you have until 4:18 am to hydrate and caffeinate ahead of fajr.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER THIS WEEK-<\/strong><strong>Look for a mix of showers and thunderstorms in the <\/strong><strong>capital city <\/strong>through Wednesday evening.<\/p>\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Some<\/strong><strong> 20 mn worshipers visited<\/strong><strong> Madinah during the first three weeks of <\/strong><strong>Ramadan<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2488801\/saudi-arabia\" style=\"\" rel=\"noopener\">Arab News<\/a> reported yesterday, citing official data.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- More than SAR 664 mn worth of zakat has been transferred through t<\/strong><strong>he Zakat, Tax <\/strong><strong>and Customs <\/strong><strong>Authority (Zatca)\u2019s e-service Zakaty <\/strong>since its launch in 2017, Zatca said in a <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1225.aspx\" style=\"\" rel=\"noopener\">statement<\/a> on Friday.<\/p>\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Miners can apply to the Industry and Mineral Resources Ministry\u2019s <\/strong><strong>Exploration <\/strong><strong>and Enablement Program (EEP) <\/strong><strong>until 31 May<\/strong>, the ministry said in a <a target=\"_blank\" href=\"https:\/\/x.com\/Jarrah_4\/status\/1776346203048812726\" style=\"\" rel=\"noopener\">post on X<\/a> on Friday. The news comes after the ministry unveiled <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e05daf4b-eff6-4b06-997c-6fa072982e5e\/miners-exploring-for-copper,-rare-earths-could-get-access-to-sar-685-mn-incentive-program\" style=\"\" rel=\"noopener\">fresh incentives<\/a> worth SAR 685 mn to boost mineral exploration here. The program is being rolled out in collaboration with the Investment Ministry and aims to reduce early-stage risk for exploration companies. Miners can apply through the <a target=\"_blank\" href=\"https:\/\/taadeen.sa\/exploration-enablement-program\" style=\"\" rel=\"noopener\">Taadeen<\/a> platform, with awardees set to be announced by the end of July this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The <\/strong><strong>Interior Ministry is rolling out a 50% reduction in traffic fines incurred before <\/strong><strong>Thursday, 18 April<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/MOISaudiArabia\/status\/1775963690589634581\" style=\"\" rel=\"noopener\">statement on X<\/a> last week. It said motorists should pay accumulated fines within six months to benefit from the initiative.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#3- New rules for contracts with domestic workers: <\/strong>The Human Resources and Social Development Ministry has introduced a new initiative aimed at regulating contractual arrangements for domestic workers, it said in a <a target=\"_blank\" href=\"https:\/\/www.hrsd.gov.sa\/ar\/media-center\/news\/040420241\" style=\"\" rel=\"noopener\">statement<\/a> last week. The new regulations center on termination of employment for staff who go AWOL within the the first two years of their arrival in Saudi. <\/p>\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>WHISPERS- Romelu Lukaku could be the latest addition to the Saudi Pro League:&nbsp;<\/strong>Chelsea FC Chairman and American bn\u2019aire Todd Boehly has been in talks to sell the striker, currently on loan at Roma, to a Saudi Pro League club during the upcoming summer transfer window, according to Belgian reports picked up by <a target=\"_blank\" href=\"https:\/\/aawsat.com\/%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6%D8%A9\/%D8%B1%D9%8A%D8%A7%D8%B6%D8%A9-%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\/4950071-%D8%AA%D8%B4%D9%8A%D9%84%D8%B3%D9%8A-%D9%8A%D9%81%D8%A7%D9%88%D8%B6-%D9%84%D8%A8%D9%8A%D8%B9-%D9%84%D9%88%D9%83%D8%A7%D9%83%D9%88-%D9%84%D8%A3%D8%AD%D8%AF-%D8%A3%D9%86%D8%AF%D9%8A%D8%A9-%D8%A7%D9%84%D8%AF%D9%88%D8%B1%D9%8A-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A\" style=\"\" rel=\"noopener\">Asharq Al Awsat<\/a>. Boehly met with local officials in March in a bid to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e47b2290-0f07-48b7-883a-7f977f940c82\/golf,-tennis-and-football-dominate-the-conversation-on-saudi-in-the-global-press\" style=\"\" rel=\"noopener\">offload some Chelsea players<\/a> to the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\u26bd <strong>This weekend\u2019s matches:<\/strong><\/p>\n<ul>\n<li><strong>Damac <\/strong>vs. <strong>Al-Nassr<\/strong> (0-1);<\/li>\n<li><strong>Al-Khaleej <\/strong>vs. <strong>Al-Hilal <\/strong>(1-4);<\/li>\n<li><strong>Al-Ittihad <\/strong>vs. <strong>Al-Taawoun<\/strong> (0-0);<\/li>\n<li><strong>Al-Wehda<\/strong> vs. <strong>Al-<\/strong><strong>Ahli<\/strong>(1-1);<\/li>\n<li><strong>Al-Tai<\/strong> vs. <strong>Al-Shabab<\/strong> (0-0);<\/li>\n<li><strong>Al-Ettifaq<\/strong> vs. <strong>Al-Riyadh<\/strong> (1-0).<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tonight\u2019s matches<\/strong> (all scheduled for 9pm, not 10pm as has been the case throughout Ramadan):<\/p>\n<ul>\n<li><strong>Al-Raed<\/strong> vs. <strong>Al-Hazm<\/strong>;<\/li>\n<li><strong>Abha <\/strong>vs. <strong>Al Faleh<\/strong>;<\/li>\n<li><strong>Al Feiha <\/strong>vs. <strong>Al Akhdoud<\/strong>.<\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The news cycle has pivoted on AI as coverage tilts further toward the \u201cdoomer\u201d end of <\/strong><strong>the spectrum<\/strong> \u2014 or, at the very least, becomes more critical of the technology. Two pieces worth your time:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/648228e7-11eb-4e1a-b0d5-e65a638e6135\" style=\"\" rel=\"noopener\">AI keeps going wrong. What if it can\u2019t be fixed?<\/a><\/strong> in the Financial Times, wherein Henry Mance, the salmon-colored paper\u2019s chief features writer, talks to critics who say that AI \u201cis simply flawed.\u201d<\/p>\n<hr style=\"page-break-before:always;display:none;\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/04\/06\/technology\/tech-giants-harvest-data-artificial-intelligence.html\" style=\"\" rel=\"noopener\">How tech giants cut corners to harvest data for AI<\/a><\/strong>, in which the New York Times writes that OpenAI, Google, and Meta have \u201cignored corporate policies, altered their own rules and discussed skirting copyright law as they sought online information to train their newest artificial intelligence systems.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US presidential election is slowly heating up. <\/strong>The latest from the campaign trail came overnight, as President Joe Biden <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/04\/06\/biden-campaign-march-fundraising-90-million-00150868\" style=\"\" rel=\"noopener\">announced a USD 100 mn fundraising advantage<\/a> over Donald Trump hours before Agent Orange was scheduled to hold a fundraiser. Biden is claiming the most cash on hand \u201cof any Democratic candidate in history.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also making the rounds: <\/strong>The WSJ wonders where Tesla went wrong and whether it can <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/autos\/tesla-sales-decline-elon-musk-20613265?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">\u201cget<\/a><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/autos\/tesla-sales-decline-elon-musk-20613265?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">its mojo back\u201d<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- US, China agree to discuss working towards \u201cbalanced growth\u201d: <\/strong>US Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng agreed to hold \u201cextensive exchanges on balanced growth in the domestic and global economies,\u201d a Treasury <a target=\"_blank\" href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy2232#:~:text=I%20am%20particularly%20concerned%20about,have%20on%20the%20American%20economy.\" style=\"\" rel=\"noopener\">statement<\/a> said. The development comes as part of efforts to rebalance trade relations between the two and address US concerns about excess manufacturing capacity in China. <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/us-criticism-chinese-overcapacity-rehashes-china-threat-rhetoric-xinhua-says-2024-04-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> has more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE- A total eclipse of the sun will sweep across parts of North America <\/strong><strong>tomorrow. <\/strong>Mns of people will see the midafternoon sky go dark as the moon passes between Earth and the sun. <\/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 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2075948\" style=\"\" rel=\"noopener\">Gulf Film Festival (GFF)<\/a><\/strong><strong> will open from Sunday, 14 April till Thursday, 18 April in <\/strong><strong>Riyadh. <\/strong>Organized by the Film Commission in cooperation with the Gulf Cooperation Council (GCC) General Secretariat, the five-day event will showcase a selection of 29 films from across the region. It will also include three training workshops and six educational seminars focused on fostering artistic dialogue and raising awareness of cinema's social impact.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/automechanika-riyadh.ae.messefrankfurt.com\/riyadh\/en.html\" style=\"\" rel=\"noopener\">Automechanika Riyadh<\/a><\/strong><strong> will open on Tuesday, 30 April till Thursday, 2 May<\/strong> at the Riyadh International Convention and Exhibition Center. The annual trade fair will showcase the automotive industry\u2019s latest advances and innovations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday before 7am Riyadh time \u2014 without charge, thanks to our friends at Cenomi.<br \/><strong>***<\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/riyad-bank\/\">Riyad Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/riyad-capital\/\">Riyad Capital<\/a>\n                <!-- <span 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<p class=\"f-graphik\">GIGAPROJECTS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/a-slower-buildout-of-neom\/\">\r\n                            Will Neom slowing down the buildout of The Line?                        <\/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\/04\/07\/a-slower-buildout-of-neom\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> 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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\/04\/07\/a-slower-buildout-of-neom\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/635.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85102\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/a-slower-buildout-of-neom\/635-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/635.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"635.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/635.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/635.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85101\" class=\"content-area-description single-story post-85101 post type-post status-publish format-standard has-post-thumbnail hentry category-gigaprojects tag-economy tag-enterpriseam-ksa tag-gigaprojects tag-mohamed-al-jadaan tag-neom tag-public-investment-fund-pif tag-the-line 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\/4\/.14563180-fbe1-4386-aada-5359a7f555b3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Officials may be looking to slow the pace at which they\u2019re building out The <\/strong><strong>Line<\/strong>, a cornerstone of the USD 500 bn Neom development, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-05\/saudis-scale-back-ambition-for-1-5-trillion-desert-project-neom\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported last week, citing sources it says have knowledge of the matter. The discussion comes as the Public Investment Fund (PIF) is yet to approve Neom\u2019s budget for this year, they said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The crux of it: <\/strong>Neom\u2019s flagship project <a target=\"_blank\" href=\"https:\/\/www.neom.com\/en-us\/regions\/theline\" style=\"\" rel=\"noopener\">The Line<\/a> \u2014 which is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3b473a40-965c-44aa-b4d7-d023fd47bcf2\/saudi-has-multiple-multi-bn-usd-construction-projects-in-the-pipeline-%25e2%2580%2594-here%25e2%2580%2599s-a-rundown-of-high-profile-gigaprojects\" style=\"\" rel=\"noopener\">projected to cost<\/a> anywhere between USD 100 bn to USD 200 bn \u2014 is now expected to be home to less than 300k people by the end of 2030, down from an initial forecast of 1.5 mn residents, one of the sources said. A slowdown in construction could see only 2.4 km of the 170-km The Line completed by the end of the decade, the source said. This has pushed at least one of the contractors working on the project to layoff some of the workers on site, according to a document seen by Bloomberg.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A very selective slowdown?<\/strong> The sources said work is progressing on other parts of the sprawling Neom gigaproject, with its luxury island destination Sindalah set to open its doors to visitors sometime this year. Regular readers of EnterpriseAM Saudi will have read a drumbeat of announcements this year about progress at Oxagon, Neom\u2019s industrial hub.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Tap or click here to read this story with all of the links <\/strong>to our background stories as well as external sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This may have been in the works for a while: <\/strong>The government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/63cece36-2173-462e-b416-e07d99393408\/Some-projects-could-miss-2030-deadline-as-gov%E2%80%99t-aims-to-balance-inflation,-import-bill,-and-domestic-debt-market\" style=\"\" rel=\"noopener\">hinted in December<\/a> that it could strategically slow down the execution of some of its economic transformation projects, seeing some conclude past their initial 2030 deadlines. \u201cCertain projects can be expanded for three years \u2014 so it\u2019s 2033 \u2014 some will be expanded to 2035, some will be expanded even beyond that and some will be rationalized,\u201d Finance Minister Mohamed Al Jadaan said at the annual budget forum.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Officials don\u2019t want government borrowing to soak up liquidity the private sector needs to grow. Access to debt for both private companies and citizens is key to growth, Al Jadaan suggested at the time, noting that the government has no interest in crowding them out. Policymakers have also considered the delay in terms of how much international debt the Kingdom wants to take on, emphasizing the need to stay below a sustainable debt ceiling measured against both GDP and non-oil GDP, the minister added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The government will need to line up USD 640 bn to fund its construction pipeline, just for the next 5 years, squeezing local lenders for USD 384 bn if they are to take up 60% of the pipeline, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-15\/saudi-arabia-banks-embark-on-record-bond-binge-for-mega-projects\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported last month, citing data compiled by Dubai-based analysis firm MEED.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gigaprojects\/\">Gigaprojects<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mohamed-al-jadaan\/\">Mohamed Al Jadaan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neom\/\">NEOM<\/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\/the-line\/\">The Line<\/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=\"85103\" 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=\"85103\">\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\">Sports<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/its-official-riyadh-is-hosting-the-wta-finals-from-2024-2026\/\">\r\n                            Riyadh secures hosting rights for WTA Finals                        <\/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\/04\/07\/its-official-riyadh-is-hosting-the-wta-finals-from-2024-2026\/\" 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\/04\/07\/its-official-riyadh-is-hosting-the-wta-finals-from-2024-2026\/')\">\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\/04\/07\/its-official-riyadh-is-hosting-the-wta-finals-from-2024-2026\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=It's official: Riyadh is hosting the WTA Finals from 2024-2026&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/its-official-riyadh-is-hosting-the-wta-finals-from-2024-2026\/\">\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\/04\/07\/its-official-riyadh-is-hosting-the-wta-finals-from-2024-2026\/&title=It's official: Riyadh is hosting the WTA Finals from 2024-2026\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=It%27s+official%3A+Riyadh+is+hosting+the+WTA+Finals+from+2024-2026+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F07%2Fits-official-riyadh-is-hosting-the-wta-finals-from-2024-2026%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\/04\/07\/its-official-riyadh-is-hosting-the-wta-finals-from-2024-2026\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/655.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85104\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/its-official-riyadh-is-hosting-the-wta-finals-from-2024-2026\/655-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/655.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"655.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/655.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/655.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85103\" class=\"content-area-description single-story post-85103 post type-post status-publish format-standard has-post-thumbnail hentry category-_newspack_sports tag-sports wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.75bd85f9-310a-48f6-b020-160026599cce.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>An ace for Saudi:<font face=\"Arial\">&nbsp;<\/font><\/strong>Riyadh will host the WTA tennis finals from 2024-2026, the WTA said in a <a target=\"_blank\" href=\"https:\/\/www.wtatennis.com\/news\/3952623\/riyadh-selected-as-the-host-of-wta-finals-from-2024-2026\" style=\"\" rel=\"noopener\">statement<\/a> last week, ending months of speculation on the fate of the women\u2019s tennis flagship tour event after some in the tennis industry mounted a campaign against Saudi's bid for the rights. The WTA said it picked Riyadh \u201cfollowing a comprehensive evaluation process over several months, which has included assessment of multiple bids from different regions and engagement with players.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong> The tournament, which will run from 2-9 November in Riyadh, will feature the top women singles players as well as doubles matchups with a record purse of USD 15.25 mn on offer. That figure is set to grow for both the 2025 and 2026 editions; Riyadh replaces last year\u2019s host Cancun, which had offered a total purse of USD 9 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Tap or click here to read this story with all of the links <\/strong>to our background stories as well as external sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A \u201cdefining moment\u201d:<\/strong> \u201cTo have a women's tournament of this magnitude and profile is a defining moment for tennis in Saudi Arabia. The WTA Finals has the power to inspire far beyond the sport, especially for our young girls and women,\u201d Sports Minister Prince Abdulaziz bin Turki Al Faisal Al Saud told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/tennis\/wta-finals-be-held-saudi-arabia-2024-2026-2024-04-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> after the announcement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And that\u2019s not all: <\/strong>The Saudi Tennis Federation and the WTA will partner to develop multi-year initiatives to help boost the sport here. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been a long road: <\/strong>Saudi hosting this year\u2019s final comes after a wave of criticism in the past months from critics who said that the Kingdom was engaged in \u201csportswashing.\u201d <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/opinions\/2024\/01\/24\/evert-navratilova-wta-saudi-arabia\/\" style=\"\" rel=\"noopener\">Critics were led by retired tennis icons Chris Evert and Martina Navratilova<\/a>. The opposition drew a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/fee87af6-9bb3-4cca-8df5-0ec45361c7d6\" style=\"\" rel=\"noopener\">smart reply<\/a> from Princess Reema bint Bandar Al Saud, the Kingdom\u2019s ambassador to Washington. Princess Reema said Evert and Navratilova\u2019s opposition was \u201cbased on arguments that are outdated stereotypes and western-centric views of our culture.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Everyone\u2019s welcome:<\/strong> \u201cEveryone will be made to feel extremely welcome. Our country is moving forward. Much has been achieved already and many historic steps taken by women in all sectors in recent years, with sport driving much of the progress across our entire society. So, we have real momentum and hosting the world\u2019s best tennis players in Riyadh will only accelerate our transformation and help grow the game further,\u201d STF President Arij Muhtabagani said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>The Public Investment Fund (PIF) signed a \u201cmulti-year strategic partnership\u201d with the men\u2019s ATP Tour <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/20825c2e-d32f-4158-b2ba-15642c79a5e9\/game,-set,-match-to-pif\" style=\"\" rel=\"noopener\">in February<\/a> to become the official naming partner of ATP rankings and partner in ATP Tour events, including Indian Wells, Miami, Madrid, Beijing, and Italy\u2019s Nitto ATP Finals. It also includes the Next Gen ATP Finals, which Jeddah will host until 2027. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Six of the world\u2019s top-ranked men\u2019s tennis players <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/509469d1-41ce-42ea-a2eb-36908a70d3de\" style=\"\" rel=\"noopener\">will be in town<\/a><\/strong><strong> in October<\/strong> to compete in the first-ever \u201cSix Kings Slam.\u201d Rafael Nadal, Novak Djokovic, Carlos Alcaraz, Jannik Sinner, Daniil Medvedev, and Holger Rune will all be here for the tournament in Riyadh. Nadal was named ambassador for the Saudi Tennis Federation recently.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85105\" 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=\"85105\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/yaqeen-capital-is-taking-a-20-stake-to-market-on-nomu\/\">\r\n                            Yaqeen Capital to debut a 20% stake on Nomu in early May 2024                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/yaqeen-capital-is-taking-a-20-stake-to-market-on-nomu\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/yaqeen-capital-is-taking-a-20-stake-to-market-on-nomu\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/yaqeen-capital-is-taking-a-20-stake-to-market-on-nomu\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Yaqeen Capital is taking a 20% stake to market on Nomu&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/yaqeen-capital-is-taking-a-20-stake-to-market-on-nomu\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/yaqeen-capital-is-taking-a-20-stake-to-market-on-nomu\/&title=Yaqeen Capital is taking a 20% stake to market on Nomu\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Yaqeen+Capital+is+taking+a+20%25+stake+to+market+on+Nomu+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F07%2Fyaqeen-capital-is-taking-a-20-stake-to-market-on-nomu%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/yaqeen-capital-is-taking-a-20-stake-to-market-on-nomu\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/644.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85106\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/yaqeen-capital-is-taking-a-20-stake-to-market-on-nomu\/644-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/644.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"644.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/644.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/644.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85105\" class=\"content-area-description single-story post-85105 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-enterpriseam-ksa tag-ipo tag-ipo-watch tag-nomu tag-yaqeen-capital 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\/4\/.2fd43044-53f9-4339-9a82-664a79e16e75.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Yaqeen Capital is going public on Nomu in a secondary share sale. <\/strong>The Riyadh-based <a target=\"_blank\" href=\"https:\/\/www.yaqeen.sa\/en\/\" style=\"\" rel=\"noopener\">advisor, brokerage house, and asset manager<\/a> is preparing to float a 20% stake on the Tadawul\u2019s parallel market, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/633.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a>. No price range has been set for the offering yet. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>Yaqeen is itself a top advisor to other companies going public on Nomu.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The timeline:<\/strong><\/p>\n<ul>\n<li>Qualified Investors can place their orders starting Sunday, 5 April 2024, until Monday, 12 May, with each investor allowed to buy a minimum of 10 shares and a maximum of 750k shares;<\/li>\n<li>The final share allocation is slated for Wednesday, 15 May;<\/li>\n<li>Excess funds, if any, will be returned no later than Tuesday, 21 May.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds + substantial shareholders: <\/strong>Proceeds from the transaction will go to <a target=\"_blank\" href=\"https:\/\/falcomholding.com.sa\/\" style=\"\" rel=\"noopener\">Falcom Holding Company<\/a>, which will hold a 40% stake after the sale. The second substantial shareholder is fully owned by Flacom Holding, giving it an effective 80% stake after the offering wraps up. Falcom owns other non-bank financial services companies, its website shows. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lock-up period: <\/strong>Substantial shareholders will not be able to execute any transactions on their shares for a period of 12 months starting from the first trading day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The latest results in a nutshell:<\/strong> The company\u2019s net income grew 9x y-o-y to SAR 38.2 mn in 2023, despite revenues falling 18.6% y-o-y to SAR 77.8 mn, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/636.pdf\" style=\"\" rel=\"noopener\">latest earnings release (pdf)<\/a>. <\/p>\n<p class=\"tag-border-left\">STRONG IPO PIPELINE<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have a solid IPO pipeline for Tadawul\u2019s main market<\/strong> taking shape for this year:<\/p>\n<ul>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f3ed9b86-2901-4e81-b661-6296caae82ed\/extra-looks-to-ipo-30%2525-of-its-highly-profitable-consumer-finance-arm\" style=\"\" rel=\"noopener\">eXtra<\/a> is looking to sell 30% of its highly profitable consumer finance arm;<\/li>\n<li>hotels and resorts operator <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c8620363-c996-408b-8d01-914668fdbb63\/hotels-and-resorts-operator-boudl-says-it-will-file-to-go-public-this-year\" style=\"\" rel=\"noopener\">Boudl<\/a> has filed to go public;<\/li>\n<li>Labor agency <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8bbf4f55-e1ee-4916-9b7c-630b41d30d2d\/\" style=\"\" rel=\"noopener\">Smasco<\/a> is in the chute;<\/li>\n<li>Water treatment company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/98b54c57-61c8-446a-959a-c812b61b5f7e\/\" style=\"\" rel=\"noopener\">Miahona<\/a> has gotten approval for an offering of 30% of its shares;<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d75d0a47-62dd-49f0-acd2-6a6aeb2285c1\/hot-healthcare%253cmark%253e-ipo-%253c%2Fmark%253emarket-shows-no-sign-of-cooling-as-soliman-fakeeh-gets-nod-to-go-public\" style=\"\" rel=\"noopener\">Dr Soliman Abdul Kader Fakeeh Hospital (DSFH)<\/a> got clearance last week to go public;<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9da021c4-8337-47f8-b4f7-7e13f94d0e7e\/modern-mills-inches-closer-to-listing-on-main-market-tadawul\" style=\"\" rel=\"noopener\">Fourth Milling Company<\/a> will list before the end of June;<\/li>\n<li>Singapore\u2019s Olam Group is mulling the IPO of its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/927c9005-50b0-4a1f-b4e5-599628a82d8b\/singapore%25e2%2580%2599s-olam-group-is-still-looking-at-a-saudi-ipo-for-is-agriculture-unit\" style=\"\" rel=\"noopener\">Olam Agri subsidiary<\/a> on Tadawul;<\/li>\n<li>Hypermarket operator <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/eaeb2656-fa3e-4e48-8d21-772adfd9470f\/hypermarket-operator-lulu-is-said-to-be-shopping-for-bankers-as-it-eyes-ipo-on-tadawul-and-adx\" style=\"\" rel=\"noopener\">Lulu<\/a> is said to be eyeing a dual listing on Tadawul and ADX;<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/78df2631-68ae-4b15-86cd-59bab3c278b7\/aster-dm-healthcare-eyes-expansion-in-saudi,-dual-listing-of-gcc-unit-on-tadawul\" style=\"\" rel=\"noopener\">Aster DM Healthcare<\/a> looks set to spin-off its GCC assets and seek a dual listing on Tadawul and in the UAE.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Nomu pipeline also looks deep<\/strong> and includes medical supplies outfit <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0211144f-6721-4388-955b-337053bec134\/qomel-plans-to-take-a-14%2525-stake-to-nomu\" style=\"\" rel=\"noopener\">Qomel<\/a>, Riyadh-based construction and mining firm <a target=\"_blank\" href=\"https:\/\/alrasheedco.com.sa\/\" style=\"\" rel=\"noopener\">Mohammed Hadi Al-Rasheed<\/a>, <a target=\"_blank\" href=\"https:\/\/leafglobal.com.sa\/\" style=\"\" rel=\"noopener\">Leaf Global Environmental Services<\/a>, petroleum derivatives manufacturer <a target=\"_blank\" href=\"https:\/\/naaspetrol.com\/en\/news\/\" style=\"\" rel=\"noopener\">Petrol Naas<\/a>, <a target=\"_blank\" href=\"https:\/\/al-ayuni.com\/investment\/aufg\/\" style=\"\" rel=\"noopener\">Arabian United Float Glass<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ab9b6303-65a6-4cfe-99fa-d2df8b0a84bd\/gas-inches-closer-to-the-main-market.-plus:-tech,-manufacturing,-logistics\" style=\"\" rel=\"noopener\">Gas Arabian Services (GAS)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- Tadawul had a good 1Q. <\/strong>Regional broadcaster MBC made its debut in January <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7f0d3cbf-df24-43c0-92f9-50f3042697c4\" style=\"\" rel=\"noopener\">in a USD 222 IPO<\/a> on the main market, followed by <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bf94604c-d669-4f0d-9946-a119503f7306\/%253cmark%253emodern-mills-%253c%2Fmark%253ejumps-on-tadawul-debut\" style=\"\" rel=\"noopener\">Modern Mills<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cf04af58-2e30-49e2-8df1-3b0176fe1c4c\" style=\"\" rel=\"noopener\">Avalon Pharma<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- Alinma Investment<\/strong> is quarterbacking the transaction as the sole lead manager and financial advisor. Meanwhile,<strong> Receiving agents<\/strong> include SNB Capital, Riyadh Capital, Saudi Fransi Capital, AlJazira Capital, Albilad Capital, Yaqeen Capital, ANB Capital, Alistithmar Capital, Derayah, and Alrajhi Capital. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nomu\/\">Nomu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/yaqeen-capital\/\">Yaqeen Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85107\" 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=\"85107\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/tennis-and-neom-lead-the-conversation-on-saudi-in-the-global-press-this-morning\/\">\r\n                            Tennis and Neom lead the conversation on Saudi in the global press this morning                        <\/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\/04\/07\/tennis-and-neom-lead-the-conversation-on-saudi-in-the-global-press-this-morning\/\" 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 story is getting coverage everywhere from <a target=\"_blank\" href=\"https:\/\/www.independent.co.uk\/sport\/tennis\/wta-finals-saudi-arabia-money-human-rights-b2523528.html\" style=\"\" rel=\"noopener\">the Independent<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2f035527-ccd5-4460-bc17-93d7f35969b2\" style=\"\" rel=\"noopener\">Financial Times<\/a> to <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/wta-finals-saudi-arabia-riyadh-4b7052f076b0d3098d78706f3a5654f8\" style=\"\" rel=\"noopener\">the Associated Press<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/sport\/tennis\/68732673\" style=\"\" rel=\"noopener\">the BBC<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Neom <\/strong>after <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-05\/saudis-scale-back-ambition-for-1-5-trillion-desert-project-neom?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> report that the planners have scaled back their estimate for how many people will live in The Line by 2030. The new figure, the business information service says, is a bit under 300k compared to the original 1.5 mn, suggesting a slower buildout. The story has legs, having been picked up by <a target=\"_blank\" href=\"https:\/\/www.businessinsider.com\/saudi-arabia-revises-estimates-neom-project-the-line-2024-4\" style=\"\" rel=\"noopener\">Business Insider<\/a>. Bloomberg is also suggesting that the Kingdom's <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-04\/saudi-crown-prince-mbs-100-billion-quest-for-foreign-investment-falters\" style=\"\" rel=\"noopener\">USD 100 bn foreign investment target<\/a> may take a bit longer to hit \u2014 and that (hardly shocking) high oil prices are key to Saudi\u2019s economic diversification program. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- A bit from Planet Startup and AI. <\/strong><a target=\"_blank\" href=\"https:\/\/www.theinformation.com\/articles\/saudi-arabia-pushes-for-ai-power-with-megafund-direct-investments\" style=\"\" rel=\"noopener\">The Information<\/a>, the California-based tech daily, picks up on the Public Investment Fund\u2019s plan for a world-scale fund to invest in AI as well as a push to have startups establish a direct presence in Saudi.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/artificial-intelligence\/\">artificial intelligence<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neom\/\">NEOM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startups\/\">Startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/the-line\/\">The Line<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/womens-tennis-association\/\">Women\u2019s Tennis Association<\/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=\"85109\" 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=\"85109\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/ades-arabian-drilling-to-suspend-several-offshore-rigs-here\/\">\r\n                            ADES + Arabian Drilling to suspend several offshore rigs here                        <\/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\/04\/07\/ades-arabian-drilling-to-suspend-several-offshore-rigs-here\/\" 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 suspension, which covers a maximum duration of 12 months, will allow rigs the flexibility to complete terms of new deployments before returning to service here. One of the suspended rigs will be deployed in Thailand starting the second half of 2024, while another will be set for a deployment within the region, Ades said, without providing further details.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Tadawul-listed leading drilling contractor Arabian Drilling is in talks with Aramco to <\/strong><strong>suspend three of its offshore rigs in Saudi<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMjYwlA_ODVPvyA3NMIgMyA3XNdREQAR4P8F\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTMwNi9jb21wYW55U3ltYm9sLzIzODEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> last week. No further details were provided on the suspension, which could run for up to 12 months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Tap or click here to read this section with all of the links <\/strong>to our background stories as well as external sources.<\/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\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi <\/strong><strong>Electricity (SEC) has redeemed its USD 1.5 bn international sukuk due <\/strong><strong>tomorrow<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/kps869xp\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> last week. Some 7.5k sukuk were redeemed at a par value of USD 200k each, with trading on the Euronext Dublin-listed sukuk set to end tomorrow. The sukuk were issued by the SEC in 2014.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- SEC raised big in a dual-tranche sukuk offering in February: <\/strong>SEC <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2a338f6d-16c5-4176-a67c-59bb10fc72be\/%253cmark%253esaudi-electricity-%253c%2Fmark%253ewraps-up-an-fcy-sukuk-sale\" style=\"\" rel=\"noopener\">raised<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2a338f6d-16c5-4176-a67c-59bb10fc72be\/%253cmark%253esaudi-electricity-%253c%2Fmark%253ewraps-up-an-fcy-sukuk-sale\" style=\"\" rel=\"noopener\">USD 2.2 bn<\/a> from the sale of dual-tranche unsecured senior sukuk in February. The sukuk will be listed on the London Stock Exchange (LSE). It is part of a USD-denominated green and \/ or conventional sukuk program <a target=\"_blank\" href=\"https:\/\/www.se.com.sa\/en\/News\/Shareholders\/ArticleFolder\/2023\/05\/26\/13\/27\/Shareholders1131\" style=\"\" rel=\"noopener\">kicked off in March<\/a> last year and is open to qualified international and local investors.<\/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\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Jeddah Islamic Port saw the passing of a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/folkmaritime.com\/\" style=\"\" rel=\"noopener\">Folk Maritime<\/a><\/strong><strong> ship \u2014 the Sunset X \u2014 <\/strong><strong>for the first time ever<\/strong>, ports authority Mawani said in <a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=050424\" style=\"\" rel=\"noopener\">a news release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Mawani has recently added <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e7fb6a3d-c6e3-4581-8982-43b2138cd4c3\/emaar,-the-economic-city-reschedules-pif%25e2%2580%2599s-usd-1-bn-loan.-plus:-capital-markets,-commodities-and-healthcare\" style=\"\" rel=\"noopener\">a new shipping service<\/a> \u2014 NRS by Folk Maritime \u2014 to its Jeddah Islamic Port to boost connectivity along ports in the North Sea. The service, which will offer a capacity of up to 1.3k TEUs, will link Jeddah Islamic Port to Yanbu Commercial Port, Neom Port, Jordan\u2019s Aqaba and Egypt\u2019s Sokhna.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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\/folk-maritime\/\">Folk Maritime<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/jeddah-islamic-port\/\">Jeddah Islamic Port<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-ports-authority\/\">Saudi Ports Authority<\/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=\"85111\" 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=\"85111\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/africas-private-capital-took-a-hit-in-2023-amid-global-investment-slump\/\">\r\n                            Africa\u2019s private capital took a hit in 2023 amid global investment slump                        <\/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\/04\/07\/africas-private-capital-took-a-hit-in-2023-amid-global-investment-slump\/\" 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\/04\/07\/africas-private-capital-took-a-hit-in-2023-amid-global-investment-slump\/')\">\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\/04\/07\/africas-private-capital-took-a-hit-in-2023-amid-global-investment-slump\/\">\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=Africa\u2019s private capital took a hit in 2023 amid global investment slump&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/africas-private-capital-took-a-hit-in-2023-amid-global-investment-slump\/\">\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\/04\/07\/africas-private-capital-took-a-hit-in-2023-amid-global-investment-slump\/&title=Africa\u2019s private capital took a hit in 2023 amid global investment slump\">\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=Africa%E2%80%99s+private+capital+took+a+hit+in+2023+amid+global+investment+slump+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F07%2Fafricas-private-capital-took-a-hit-in-2023-amid-global-investment-slump%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\/04\/07\/africas-private-capital-took-a-hit-in-2023-amid-global-investment-slump\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/606.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85112\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/07\/africas-private-capital-took-a-hit-in-2023-amid-global-investment-slump\/606-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/606.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"606.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/606.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/606.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85111\" class=\"content-area-description single-story post-85111 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.c44b35a3-b36b-4ca9-a3ac-e917fa4f6b98.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Africa saw a significant dip in private capital activity in 2023<\/strong>, with 450 transactions worth some USD 5.9 bn, marking a 28% y-o-y decrease in volume and a 22% y-o-y decline in value, according to the African Private Capital Association\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/594.pdf\" style=\"\" rel=\"noopener\">private capital activity report (pdf)<\/a>. This marks the steepest decline in private capital volumes in over a decade, fueled by a slowdown in venture capital investments and sizable transactions, according to the report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The value of transactions rose 35% in 2H 2023&nbsp;<\/strong>in comparison to the first half of the year, mainly on the back of two large infrastructure projects in South Africa\u2019s renewable energy sector, each exceeding USD 250 mn and accounting for 27% of total investment value during the period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Tap or click here to read this section with all of the links <\/strong>to our background stories as well as external sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Macroeconomic challenges weighed heavily:<\/strong> Africa grappled with soaring inflation in 2023,reaching 17.8%, its highest level in over a decade, propelled by global spikes in food and energy prices, domestic \u201cfiscal extravagance,\u201d disruptions in agricultural supply chains, and currency depreciations against the USD. North Africa bore the brunt of headwinds, with inflation doubling to 16.6% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The continent\u2019s favorite asset class, venture capital, experienced a major slowdown<\/strong>, both on the continent and globally. Still, VCs contributed to 68% of total investment volume, with the financial sector taking the lead. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Exit activity also witnessed a 48% y-o-y decline in 2023<\/strong>, as the continent saw 42 exits in total during the year \u2014 unchanged from pre-2022 averages as 2022 marked an \u201coutlier year for exits in Africa\u201d \u2014 according to the report. North Africa was hit the hardest due to limited exits in Egypt, Africa\u2019s primary exit market, while South Africa demonstrated resilience with only a 17% decline. Sales to trade buyers remained the most common exit route. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some respite:<\/strong> Interim fundraising remained resilient, with Africa-focused fund managers achieving a record 40 interim closes valued at USD 3 bn, the highest to date. While overall fundraising declined for a second year, the overall trend saw larger funds take the backseat for smaller ones, which made up 65% of total closed funds, growing 1.6x in volume and 2.6x in value. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US institutional investors offload PE holdings amid liquidity concerns:<\/strong> Institutional investors in the US, including pension funds and endowments, are selling off private equity holdings at lower than their value to reduce exposure to illiquid assets, amidst a subdued market for traditional exits like stock listings and mergers, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a1612484-6511-41f3-9e3a-83eb2dea0347\" style=\"\" rel=\"noopener\">Financial Times<\/a> writes. Big investors sold 99% of their holdings in 2023, a marked increase from 95% in 2022 and 73% in 2021. <\/p>\n<p><a target=\"_blank\" id=\"t.5737821b611d38644ed555f4055a9ffde64f8c68\" 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-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,705<\/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: +6.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,631<\/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: +5.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">26,253<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6.5% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28,506<\/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: +14.5%)<\/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>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\">9,237<\/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\">-0.02% (YTD: -3.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,244<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +4.5%)<\/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>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\">5,204<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: 9.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,911<\/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: +2.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,015<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1% (YTD: +10.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">91.2<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1.8<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6%<\/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\">2,330<\/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\">+1.7%<\/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>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\">68,362<\/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: 64.7%)<\/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>rose 0.7% <strong>yesterday <\/strong>on turnover of SAR 7.9 bn. The index is up 6.2% 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> AlAkaria (+7.3%), AlKhaleej (+6.7%) and Al Arabia (+6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Sinad Holding (-6.1%), ADES (-5.3%) and Arabian Drilling (-4.5%).<\/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>rose 0.7% <strong>yesterday <\/strong>on turnover of SAR 42.4 mn. The index is up 7% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> AlMuneef (+12.5%), NGDC (+10%) and AlModawat (+9.6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Paper Home (-8%), APICO (-6.2%) and Atlas Elevators (-2.3%)<\/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>Banque Saudi Fransi (BSF)\u2019s Board of Directors have approved a 2.9 mn share <\/strong><strong>buyback <\/strong>and will transfer the shares it acquires to the bank\u2019s share-based employee comp program, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/ynuv25ju\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The buyback, which will be financed from the bank\u2019s own resources, will see shares retained as treasury shares for the employees-related program. The central bank has signed off on the move, which now requires a vote of shareholders. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Shareholders of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/azm.sa\/en\/about-azm\/\" style=\"\" rel=\"noopener\">Saudi Azm for Communication and IT<\/a><\/strong><strong> approved the buyback of up to <\/strong><strong>1<\/strong><strong>mn shares<\/strong>, also for the company\u2019s employee comp program, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/641.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The purchase, which will be financed from the company\u2019s own resources, should be completed within 12 months of its approval by shareholders. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The Capital Market Authority (CMA) approved renewables giant Acwa Power\u2019s <\/strong><strong>request to hike its capital by 0.2% to SAR 7.3 bn<\/strong> through a share issuance, it said in a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3530.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. The increase will be paid by the transfer of SAR 14.2 mn from retained earnings to the company\u2019s capital, increasing outstanding shares to 732.5 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Real estate developer <\/strong><strong>Red Sea International (RSI) has asked the CMA to approve a <\/strong><strong>hike in its <\/strong><strong>capital through a debt conversion<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3mzycuav\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The RSI is planning to convert some SAR 476 mn in debt owed by the company to Al Dabbagh Group Holding and from the acquisition of the Fundamental Installation for Electric Work (First Six).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85113\" 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\/04\/07\/85113\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85113\" class=\"content-area-description single-story post-85113 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 style=\"font-weight:400;\">5 April (Friday): Start of Eid Al Fitr vacation for banks and stock market<\/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>11-13 April (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ithra.com\/en\" style=\"\">Eid at Ithra<\/a><\/span><span>, Dhahran. <\/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;\">9 April (Tuesday): Start of Eid Al Fitr vacation for businesses<\/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;\">13 April (Friday): Last day of Eid Al Fitr \u2014 it\u2019s business as usual from Saturday onward. <\/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>30 April-2 May: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/automechanika-riyadh.ae.messefrankfurt.com\/riyadh\/en.html\" style=\"\">Automechanika Riyadh<\/a><\/span><span style=\"font-weight:400;\"> 2024 at Riyadh International Convention and Exhibition Center.<\/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:400;\">14-22 June (Friday-Saturday): Banks and capital markets closed for Eid Al Adha 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;\">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>2-9 November<\/span><span> (Saturday- Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wtatennis.com\/tournament\/808\/wta-finals\" style=\"\">WTA Finals<\/a><\/span><span>, Riyadh.<\/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\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>Riyad Capital IPO | Slowing down The Line? | STC Pay\u2019s bank ambitions | Yaqeen Capital files for Nomu IPO | Saudi eyes Chinese real estate?<\/p>\n","protected":false},"featured_media":85097,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-85096","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"0948ba68-e01f-4b2e-9442-429efc0bbfd3","teaser":"Riyad Capital IPO | Slowing down The Line? | STC Pay\u2019s bank ambitions | Yaqeen Capital files for Nomu IPO | Saudi eyes Chinese real estate?","photo_url":"https:\/\/ent.news\/2024\/4\/680.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Big tennis win for the Kingdom - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/big-tennis-win-for-the-kingdom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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