{"id":85171,"date":"2024-04-15T00:00:00","date_gmt":"2024-04-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=85171"},"modified":"2025-12-14T17:50:50","modified_gmt":"2025-12-14T17:50:50","slug":"where-we-stand-in-the-race-for-data-center-supremacy","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/where-we-stand-in-the-race-for-data-center-supremacy\/","title":{"rendered":"Where we stand in the race for data center supremacy"},"content":{"rendered":"<section id=\"85173\" 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=\"85173\">\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\/15\/strap-in-and-get-ready-for-a-really-busy-news-week\/\">\r\n                            Conflict between Iran and Israel, the IMF \/ World Bank spring meetings, and earnings season set up a very busy news week                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/strap-in-and-get-ready-for-a-really-busy-news-week\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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It\u2019s the singular priority in policymaking circles this morning, as underscored by the banner headline in the Wall Street Journal: <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/biden-wanted-to-avoid-a-regional-war-now-hes-got-one-770745f3\" style=\"\" rel=\"noopener\">Biden wanted to avoid a regional war. Now he\u2019s got one<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The key message to Israel, per Politico: <\/strong><a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/04\/14\/us-israel-responding-iran-00152150\" style=\"\" rel=\"noopener\">Don\u2019t do something you\u2019ll regret.<\/a> Saudi has expressed \u201cdeep concern\u201d about the attack and is calling on both sides to exercise restraint. (More than that in this morning\u2019s Diplomacy section, below.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh and Abu Dhabi could be key to how this all plays out<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/gulf-states-vulnerable-influential-seek-stop-new-iran-israel-war-2024-04-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> notes, given our unique positions as intermediaries between Iran, Israel, and the United States. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- How will markets react? <\/strong>Traders around the world are taking Iran\u2019s missile and drone attack on Israel \u2014 unprecedented though it may have been \u2014 with a grain of salt:<\/p>\n<ul>\n<li>US stock futures ticked up overnight and European futures inched down ever so slightly;<\/li>\n<li>Major Asian benchmarks have recouped some of their losses in early trading this morning after sagging a modest 1.3-1.5% at the opening bell; <\/li>\n<li>Gold and oil prices \u2014 both on an upward march of late \u2014 pulled back slightly yesterday;<\/li>\n<li>The USD is holding steady.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The wildcard: How will Netanyahu react? <\/strong>And on what time scale? International leaders will have plenty of forums in which to express \u201cdeep concern\u201d this week, with G7 foreign ministers and EU heads of state both set to meet on Wednesday and G20 finance ministers meeting on Thursday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also \u201ctop of mind\u201d<\/strong> as we keep shrugging off the post-Eid blues:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a>  <strong>#4- The IMF and World Bank annual meetings get fully underway later today<\/strong> in Washington, DC. The IMF will release its World Economic Outlook and part of its Global Financial Stability report tomorrow and its fiscal monitor on Wednesday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Finance Minister Mohamed Al Jaadan will lead the Saudi delegation<\/strong> to the meetings, a <a target=\"_blank\" href=\"https:\/\/www.mof.gov.sa\/en\/MediaCenter\/news\/Pages\/News_14042024.aspx\" style=\"\" rel=\"noopener\">Finance Ministry statement<\/a> said. Al Jadaan lead a meeting of the IMF\u2019s top policy advisory body, the International Monetary and Financial Committee (IMFC), his first since he <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2023\/12\/13\/pr23443-imfc-selects-saudi-arabias-minister-of-finance-mohammed-aljadaan-as-new-chair\" style=\"\" rel=\"noopener\">was named<\/a> chair of the committee for a three-year term. The delegation also includes Sama Governor <strong>Ayman Al Sayari<\/strong>, Saudi Fund for Development CEO <strong>Sultan Al Marshad<\/strong> and other officials.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a><strong> #5- It\u2019s earnings season once again. <\/strong>Saudi companies have until 19 May to release 1Q figures and the trickle will turn into a flood this week in the West, with Goldman Sachs, Bank of America, Morgan Stanley, and BNY Mellon all set to release between today and tomorrow. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not enough news in the pipeline for you?&nbsp;<\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/fa1844c4-ac2e-48ce-9c99-a8352533d6e2\/\" style=\"\" rel=\"noopener\">The halving of BTC<\/a><\/strong> should take place sometime around Saturday, <strong>Donald Trump\u2019s criminal hush-money trial<\/strong> gets underway today in New York City, and <strong>India kicks off its 44-day parliamentary election<\/strong> process on Friday.<\/p>\n<p class=\"tag-border-left\">GET READY FOR THE WEF IN RIYADH<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>MEANWHILE- There are less than two weeks to go until Riyadh is host to a special <\/strong><strong>meeting of the <\/strong><strong>World Economic Forum. <\/strong>The headline: \u201cGlobal collaboration, growth and energy for development.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A who\u2019s who will be in town for the gathering: <\/strong>Everyone from IMF boss Kristalina Georgieva (who just got a second term in office) to General Atlantic chief William Ford, and (sigh) the NYT\u2019s Thomas Friedman (maybe his Uber driver will get a name check in a column?). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the agenda: <\/strong>Everything from AI and the energy transition to forest fires, digital healthcare, and \u201cthe Middle East under stress.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong>Aramco CEO Amin Nasser and Lubna Olayan are among the co-chairs of the gathering and have helped set the agenda. <\/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>Growth in oil use will slow this year, the International Energy Agency says<\/strong>, in stark contrast with Opec, which as we <a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/45d14d9f-1c46-4d9c-b631-c744d2073b13\" style=\"\" rel=\"noopener\">noted yesterday<\/a> is predicting \u201crobust oil demand\u201d during the summer, leaving its 2024 forecast unchanged in its latest monthly report. <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/91bafe0c-cac5-4037-a623-d575132ee7ad\" style=\"\" rel=\"noopener\">The Opec nemesis says<\/a> \u201cdemand will increase by 1.2mn barrels per day this year, a 130k b\/d reduction on its previous monthly forecast\u201d thanks to stabilizing demand in China and a mild winter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The risk to both forecasts: <\/strong>Brent crude is at about USD 90 \/ barrel right now \u2014 and could go to USD 100 or above if Israel and Iran don\u2019t cool off, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/04\/15\/oil-prices-could-surge-above-100-after-irans-first-attack-on-israel.html\" style=\"\" rel=\"noopener\">CNBC<\/a> writes.<\/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\"><a id=\"wwtt2\"><\/a>  <strong>Economic cooperation is on the agenda as Foreign Minister Prince <\/strong><strong>Faisal bin Farhan lands in Pakistan today<\/strong>, a <a target=\"_blank\" href=\"https:\/\/twitter.com\/ForeignOfficePk\/status\/1779553999965802953?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\" style=\"\" rel=\"noopener\">statement on X<\/a> by Pakistan\u2019s Foreign Ministry read. The two-day visit by the FM comes nearly a week after Pakistan\u2019s prime minister <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/saudi-crown-prince-meets-pakistani-premier-stresses-india-pakistan-dialogue-2024-04-08\/\" style=\"\" rel=\"noopener\">discussed<\/a> a USD 5 bn investment package during a meeting in Makkah with Crown Prince Mohammed bin Salman.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Farhan is leading a large delegation<\/strong>, with <a target=\"_blank\" href=\"https:\/\/www.voanews.com\/a\/saudi-foreign-minister-to-visit-pakistan-for-wide-ranging-talks\/7569813.html\" style=\"\" rel=\"noopener\">reports<\/a> suggesting he is being joined by officials from the water and agriculture, energy, investment, and industry and mineral resources ministries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Saudi has been among key backers of crisis-hit Pakistan, which is now struggling with depleted 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. Pakistan <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\">also received<\/a> last year USD 2 bn in financial assistance from the Kingdom to shore up finances.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Homegrown fintech <\/strong><strong><a target=\"_blank\" href=\"https:\/\/fundingsouq.com\/ae\/en\/about-us\/\" style=\"\" rel=\"noopener\">Funding Souq<\/a><\/strong><strong> has gotten the green light from the <\/strong><strong>Saudi Central <\/strong><strong>Bank (Sama) to provide crowdfunded debt solutions <\/strong><strong>to SMEs<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/funding-souq-receives-license-from-the-saudi-central-bank-sama-to-operate-debt-crowdfunding-platform-in-the-kingdom-of-saudi-arabia-o7j4bqd2\" style=\"\" rel=\"noopener\">a press release<\/a>. \u201cWe are pleased to announce that we have officially obtained our license from the Saudi central Bank,\u201d CEO and founder Martin Jaouni said last week. The Riyadh-based fintech, founded in 2020, offers financing and investment services to SMEs by connecting them to retail and institutional investors. <\/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- WEATHER WARNING-<\/strong> The General Directorate of Civil Defense has urged the public to stay cautious and avoid flash flood-prone areas until Wednesday, it said in <a target=\"_blank\" href=\"https:\/\/x.com\/SaudiDCD\/status\/1779241094334632270\" style=\"\" rel=\"noopener\">a post on X<\/a>, yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Intermittent thunderstorms are in the cards through Wednesday <\/strong>for the Riyadh, Eastern Province, and Al-Qassim.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Umrah visas will be valid for three months at most starting from the date <\/strong><strong>of issuance <\/strong>and expiring on 15 Zu Al-Qa\u2019dah of every Islamic calendar year, instead of the previous expiration date of 29 Zu Al-Qa\u2019dah, per a <a target=\"_blank\" href=\"https:\/\/twitter.com\/MOHU_Care\/status\/1779383291927294352\" style=\"\" rel=\"noopener\">post on X by the Ministry of Hajj and Umra<\/a>. The Ministry advised pilgrims in <a target=\"_blank\" href=\"https:\/\/twitter.com\/HajMinistry\/status\/1779132269627674869\/photo\/1\" style=\"\" rel=\"noopener\">a separate post<\/a> to leave the Kingdom before their visas expire<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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<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 Gulf Film Festival (GFF) runs through 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>Riyadh will host a special meeting of the World Economic Forum<\/strong> on 28-29 April.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Automechanika Riyadh 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>The King Salman bin Abdulaziz Royal Reserve Festival will kick off today <\/strong>at the Cultural Center in Al-Qurayyat governorate, state news agency SPA reports. The art and culture event runs until Thursday, 18 April.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil-watch\/\">oil watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-iran-relations\/\">Saudi-Iran relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span 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<p class=\"f-graphik\">ENTERPRISE EXPLAINS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/a-snapshot-of-saudis-data-center-industry-as-we-angle-for-regional-leadership\/\">\r\n                            A snapshot of Saudi\u2019s data center industry as we angle for regional leadership                        <\/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\/15\/a-snapshot-of-saudis-data-center-industry-as-we-angle-for-regional-leadership\/\" target=\"_blank\">\n 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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/855.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85176\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/a-snapshot-of-saudis-data-center-industry-as-we-angle-for-regional-leadership\/855-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/855.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"855.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/855.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/855.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85175\" class=\"content-area-description single-story post-85175 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-explains tag-artificial-intelligence tag-enterprise-explains tag-enterpriseam-ksa tag-investment tag-technology wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.538cd591-6305-4f65-bd4d-f2712f5a7b13.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi and the UAE have both made it clear they have ambitions to be the <\/strong><strong>region\u2019s AI superpower<\/strong>, and realities of demand (if bulls are right), cash on hand, and national sovereignty suggest each will carve out unique roles.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are <\/strong><strong>24 operational data centers in Saudi today with a capacity of 123 MW<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.arizton.com\/market-reports\/saudi-arabia-data-center-market-investment-analysis\" style=\"\" rel=\"noopener\">a report by market researcher Arizton<\/a>. Another 37 facilities are in the cards, the report reads. Meanwhile, the UAE currently hosts 52 data centers with an overall capacity of 235 MW, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-11\/race-for-ai-supremacy-in-middle-east-is-measured-in-data-centers\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports citing data platform analytics platform DC Byte.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But we\u2019re well behind advanced economies: <\/strong>Germany alone has more than 1 GW of data center capacity, according to the business news information service. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">AI is expected to contribute USD 135 bn to Saudi Arabia\u2019s economy by 2023, a <a target=\"_blank\" href=\"https:\/\/www.pwc.com\/m1\/en\/publications\/potential-impact-artificial-intelligence-middle-east.html#:~:text=The%20US%24320%20billion%20impact%20of%20AI%20for%20the%20Middle%20East&amp;text=When%20we%20look%20at%20the,equivalent%20to%20US%24320%20billion.\" style=\"\" rel=\"noopener\">recent report from PwC showed<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(Sound smart: Data center capacity is measured in MW because energy is the only <\/strong><strong>common denominator <\/strong>for the power-hungry centers. Data centers house thousands of servers as well as networking equipment and cooling systems, all of which consume massive amounts of power.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>Data centers provide the kind of computational power required for training and deploying complex AI models. Localizing the facilities speeds up their performance and makes them more accessible to local users at higher speeds, thereby potentially streamlining progress in AI technology, <a target=\"_blank\" href=\"https:\/\/www.digitalrealty.com\/resources\/articles\/data-center-ai\" style=\"\" rel=\"noopener\">according to Digital Reality<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And then there\u2019s data sovereignty: <\/strong>Countries around the world want to keep close tabs on their data \u2014 and to control who it might be shared with, and when. Concern about data sovereignty are at the heart of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/87eda04f-8799-43ec-8360-cf8b49594df3\/\" style=\"\" rel=\"noopener\">proposed regulations<\/a> on which the Saudi Data and AI Authority is now seeking public feedback, as we reported last month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi is vying for the lead: <\/strong>The Kingdom plans to boost its data center capacity by an additional 467 MW over the coming years, with a future supply that outpaces the UAE\u2019s 343 MW of planned data center capacity over the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>The local data center market was valued at USD 1.78 bn in 2023, and is projected to grow at a CAGR of 10% until it hits USD 3.2 bn in 2029, the Arizton report reads. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Incentives: <\/strong>The government is offering lower energy rates for large cloud providers to set up shop here, a subsidy that the UAE has failed to match, according to Equinix MENA MD Kamel Al-Tawil. The Kingdom is also mulling over plans to fastrack licenses and approvals for foreign companies interested in developing the local digital infrastructure. <\/p>\n<p class=\"tag-border-left\"> WHO\u2019S DOING WHAT? FOREIGN INVESTORS<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Per a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.blackridgeresearch.com\/blog\/latest-list-of-top-largest-biggest-data-center-projects-in-saudi-arabia-ksa\" style=\"\" rel=\"noopener\">report<\/a><\/strong> by market research and consulting firm Blackridge:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.oracle.com\/\" style=\"\" rel=\"noopener\">Oracle<\/a><\/strong><strong> has a USD 1.5 bn investment plan for local data centers <\/strong>including the existing <a target=\"_blank\" href=\"https:\/\/docs.oracle.com\/en-us\/iaas\/releasenotes\/changes\/b38848ee-ecd2-4c36-9491-95628f16dffd\/\" style=\"\" rel=\"noopener\">Oracle<\/a><a target=\"_blank\" href=\"https:\/\/docs.oracle.com\/en-us\/iaas\/releasenotes\/changes\/b38848ee-ecd2-4c36-9491-95628f16dffd\/\" style=\"\" rel=\"noopener\">cloud Jeddah region<\/a> and the upcoming Oracle cloud region in Neom. Its planned <a target=\"_blank\" href=\"https:\/\/www.oracle.com\/eg\/news\/announcement\/oracle-to-invest-us-1-point-5-billion-to-meet-cloud-computing-demand-in-saudi-arabia-2023-02-06\/\" style=\"\" rel=\"noopener\">Oracle cloud Riyadh region<\/a> will be hosted by Stc-owned regional data center provider <a target=\"_blank\" href=\"https:\/\/center3.com\/\" style=\"\" rel=\"noopener\">Center3<\/a>. The cloud infrastructure company also has a new data center in the pipeline slated to go online in 2026 with a capacity of 60 MW.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based Damac Group and fiber firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cinturiongroup.com\/\" style=\"\" rel=\"noopener\">Cinturion<\/a><\/strong><strong> have a planned data center and cable <\/strong><strong>landing station in Jeddah\u2019s King Abdullah Economic City <\/strong>with a total capacity of 33 MW and IT load of 10 MW. Damac unit Edgnex is currently working on additional facilities in Dammam and Riyadh. Edgnex has also signed an MoU with Salam, Cinturion, and Emaar, the Economic City to develop a digital infrastructure hub in KAEC. This is part of Damac\u2019s USD 1 bn data center development strategy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chinese internet services giant Tencent Holding wants to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/63200ca0-8687-4aaa-a93e-7fbb76261cf3\/aramco-wants-to-become-china%25e2%2580%2599s-partner-of-choice-on-more-than-just-oil\" style=\"\" rel=\"noopener\">up its cloud business game in<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/63200ca0-8687-4aaa-a93e-7fbb76261cf3\/aramco-wants-to-become-china%25e2%2580%2599s-partner-of-choice-on-more-than-just-oil\" style=\"\" rel=\"noopener\">Saudi and the UAE<\/a><\/strong><strong>.<\/strong> The Shenzhen-based firm is particularly interested in offering cloud storage services to local gaming companies, as a starting point for further investments in computing power for AI applications, and developing an Arabic language model. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amazon Web Services recently <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/72e23e4f-4eab-455f-9a17-23a22cad6710\/\" style=\"\" rel=\"noopener\">unveiled<\/a><\/strong><strong> a plan to <\/strong><strong>invest more than USD 5.3 bn<\/strong> in cloud infrastructure here. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New York-listed customer experience management platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sprinklr.com\/\" style=\"\" rel=\"noopener\">Sprinklr<\/a><\/strong><strong> has unveiled <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cdc315d2-7a49-42dc-9f13-ca334be4636e\/sprinklr,%253cmark%253e-google-cloud-%253c%2Fmark%253elaunch-local-data-hosting\" style=\"\" rel=\"noopener\">a local<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cdc315d2-7a49-42dc-9f13-ca334be4636e\/sprinklr,%253cmark%253e-google-cloud-%253c%2Fmark%253elaunch-local-data-hosting\" style=\"\" rel=\"noopener\">data hosting solution on Google Cloud for Saudi clients<\/a>&nbsp;<\/strong>who need local data hosting solutions. The collaboration with Google Cloud marks Sprinklr\u2019s first big expansion into the domestic market.<\/p>\n<p class=\"tag-border-left\"> WHO\u2019S DOING WHAT? DOMESTIC INVESTORS<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/data-volt.com\/\" style=\"\" rel=\"noopener\">DataVolt<\/a>&nbsp;<\/strong><strong>is pledging <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/72e23e4f-4eab-455f-9a17-23a22cad6710\/day-1-recap:-leap-2024-lines-up-%253eusd-11.9-bn-in-tech-investment\" style=\"\" rel=\"noopener\">USD 5 bn<\/a><\/strong><strong> to locally develop sustainable data centers, <\/strong><strong>with a planned capacity of over 300 MW. <\/strong>The data services provider is currently operational in Riyadh, Dubai and California.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The USD 500 mn <\/strong><strong><a target=\"_blank\" href=\"https:\/\/tonomus.neom.com\/en-us\" style=\"\" rel=\"noopener\">Tonomus<\/a><\/strong><strong> digital communication facility owned by NEOM is set to <\/strong><strong>operate software controlled networks supporting up to 60 locations by 2025<\/strong> and a total of 200 mn loT devices by 2030. Another data center is in the works in Neom under a partnership between stc and its subsidiary solutions by stc.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al-Moammar Information Systems Company (MIS) is set to carry out a USD 414 mn <\/strong><strong>expansion of two data centers in Dammam.<\/strong> The company entered into an agreement with Saudi Fransi Capital in 2021 for the construction, design and administration of six data centers with an expected budget of USD 2.6 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alibaba-STC have entered a partnership that will see the Chinese tech giant earmark USD <\/strong><strong>238 mn to develop cloud computing infrastructure in the Kingdom.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE GAME-CHANGER? A USD 40 bn PIF fund. <\/strong>The Public Investment Fund may be cooking up a world-scale AI play, with officials said to be exploring the setup of <a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/399e70a3-e2fe-4f5f-8a42-286b5b4ce2db\" style=\"\" rel=\"noopener\">a USD 40 bn fund to invest in artificial intelligence<\/a>. The fund would make PIF the world\u2019s largest investor in AI and it could start investing as early as the second half of this year. The fund would invest in everything AI, from chipmakers and AI companies to data centers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/artificial-intelligence\/\">artificial intelligence<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/enterprise-explains\/\">ENTERPRISE EXPLAINS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment\/\">Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/technology\/\">Technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85177\" 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=\"85177\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/banks-will-lead-uptick-in-corporate-earnings-in-1q-2024-al-jazira-capital\/\">\r\n                            Banks will lead uptick in corporate earnings in 1Q 2024 \u2013Al Jazira Capital                        <\/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\/15\/banks-will-lead-uptick-in-corporate-earnings-in-1q-2024-al-jazira-capital\/\" 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\/15\/banks-will-lead-uptick-in-corporate-earnings-in-1q-2024-al-jazira-capital\/')\">\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\/15\/banks-will-lead-uptick-in-corporate-earnings-in-1q-2024-al-jazira-capital\/\">\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=Banks will lead uptick in corporate earnings in 1Q 2024 \u2013Al Jazira Capital&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/banks-will-lead-uptick-in-corporate-earnings-in-1q-2024-al-jazira-capital\/\">\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\/15\/banks-will-lead-uptick-in-corporate-earnings-in-1q-2024-al-jazira-capital\/&title=Banks will lead uptick in corporate earnings in 1Q 2024 \u2013Al Jazira Capital\">\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=Banks+will+lead+uptick+in+corporate+earnings+in+1Q+2024+%E2%80%93Al+Jazira+Capital+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F15%2Fbanks-will-lead-uptick-in-corporate-earnings-in-1q-2024-al-jazira-capital%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\/15\/banks-will-lead-uptick-in-corporate-earnings-in-1q-2024-al-jazira-capital\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/840.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85178\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/banks-will-lead-uptick-in-corporate-earnings-in-1q-2024-al-jazira-capital\/840-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/840.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"840.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/840.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/840.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85177\" class=\"content-area-description single-story post-85177 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-al-rajhi-bank tag-alinma-bank tag-aramco tag-business tag-earnings-watch tag-enterpriseam-ksa tag-sabic tag-sipchem 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\/.68c9e724-ccba-4e4d-bee5-046f537815d2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Al Jazira Capital sees a strong performance by banks compensating for <\/strong><strong>falling profitability at telecoms companies <\/strong>as petrochemical players in its coverage universe start to return to profitability.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Jazira expects a 5.2% y-o-y rise in the combined net income of the 51 <\/strong><strong>companies<\/strong><strong> it has <\/strong><strong>under active coverage<\/strong>. The uptick to a combined SAR 16.3 bn will be led by 11.8% growth in <strong>bank<\/strong> earnings, while <strong>cement<\/strong> producers will see their net income rise almost 33%. <strong>Healthcare<\/strong> providers will far well thanks to growth in admissions and better pricing power, while <strong>tourism<\/strong> and <strong>transportation<\/strong> players are benefiting from rising tourism and air traffic activity. <strong>Fintech<\/strong> and <strong>media<\/strong> companies should also report growing bottom lines.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Under pressure: <\/strong>Al Jazira sees <strong>petchem<\/strong> players starting to return to profitability after racking up losses in 4Q, while <strong>telecoms<\/strong> will see their bottom lines dip a combined 12% year-on-year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Q1 results for the petrochemicals sector are the first since Aramco <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/12379f52-2d29-4e73-8c9e-7e2825e2f0f0\/aramco-hikes-diesel-prices-for-manufacturers-by-53%2525,-but-impact-on-consumers-should-be-limited\" style=\"\" rel=\"noopener\">hiked<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/12379f52-2d29-4e73-8c9e-7e2825e2f0f0\/aramco-hikes-diesel-prices-for-manufacturers-by-53%2525,-but-impact-on-consumers-should-be-limited\" style=\"\" rel=\"noopener\">feedstock prices<\/a> earlier this year. While most Tadawul-listed firms said they expect the price hike to hit their cost of production in 1Q 2024, Al Jazira Capital doesn\u2019t forecast the impact of the hike in prices to fully materialize this quarter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Red Sea crisis to bite:<\/strong> Al Jazira Capital said it expects the ongoing Red Sea crisis to take a toll on the petrochemicals industry due to shipment delays (cutting into revenues) and a rise in shipments costs (eating into margins).<\/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\">BANKS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Rajhi Bank, Alinma Bank, and Bank Al Bilad are expected to see their combined net <\/strong><strong>income grow by 11.8% y-o-y in 1Q 2024<\/strong> on the back of an increase in net interest margin and growth in financial positions, Al Jazira Capital said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Rajhi Bank \u2014 the largest Islamic bank globally \u2014 will turn in a 5.7% y-o-y rise in net <\/strong><strong>income<\/strong> to SAR 4.4 bn, while Alinma Bank\u2019s net income is set to grow by 38.9% yo SAR 1.3 bn. It expects Al Bilad Bank\u2019s net income to rise by 10% y-o-y to SAR 616 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The three will see combined loan growth of 6.3% y-o-y in the period<\/strong>, with Alinma Bank leading the pack with a projected growth of 16% y-o-y. It sees combined deposits up 7.7% y-o-y during the period, led by 20.2% growth in deposits by Alinma Bank.<\/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\">PETROCHEMICALS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nearly all petrochemical manufacturers that Al Jazira Capital covers are set for a <\/strong><strong>drop in net income <\/strong>on an annual basis in the first quarter of the year despite a return to profitability when compared with the last quarter of 2023. Those include petrochemicals giant Sabic which is set to see net income down by 35.4% y-o-y in 1Q to SAR 424 mn. It sees Sabic Agri-Nutrients\u2019 net income down by 9.7% y-oy during the period to SAR 885 mn, with Sipchem\u2019s net income plunging by 67.8% y-o-y to SAR 151.3 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Go deeper: <\/strong>Mubasher has more <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4274199\/%D8%B4%D8%B1%D9%83%D8%A9-%D8%A3%D8%A8%D8%AD%D8%A7%D8%AB-%D8%AA%D8%AA%D9%88%D9%82%D8%B9-%D9%86%D8%AA%D8%A7%D8%A6%D8%AC-51-%D8%B4%D8%B1%D9%83%D8%A9-%D9%85%D8%AF%D8%B1%D8%AC%D8%A9-%D9%84%D9%84%D8%B1%D8%A8%D8%B9-%D8%A7%D9%84%D8%A3%D9%88%D9%84-%D9%85%D9%86-%D8%B9%D8%A7%D9%85-2024\/\" style=\"\" rel=\"noopener\">here<\/a>, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4274214\/%D8%B4%D8%B1%D9%83%D8%A9-%D8%A3%D8%A8%D8%AD%D8%A7%D8%AB-%D8%AA%D9%88%D9%82%D8%B9%D8%A7%D8%AA-%D8%A8%D9%86%D9%85%D9%88-%D8%A3%D8%B1%D8%A8%D8%A7%D8%AD-3-%D8%A8%D9%86%D9%88%D9%83-11-8-%D9%81%D9%8A-%D8%A7%D9%84%D8%B1%D8%A8%D8%B9-%D8%A7%D9%84%D8%A3%D9%88%D9%84-2024\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4274262\/%D8%B4%D8%B1%D9%83%D8%A9-%D8%A3%D8%A8%D8%AD%D8%A7%D8%AB-963-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%B1%D9%8A%D8%A7%D9%84-%D8%A3%D8%B1%D8%A8%D8%A7%D8%AD-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D9%83%D9%8A%D9%85%D8%A7%D9%88%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%AA%D9%88%D9%82%D8%B9%D8%A9-%D8%A8%D8%A7%D9%84%D8%B1%D8%A8%D8%B9-%D8%A7%D9%84%D8%A3%D9%88%D9%84-2024\/?currentUserCountryCode=EG\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-rajhi-bank\/\">Al Rajhi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alinma-bank\/\">Alinma Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/business\/\">BUSINESS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sabic\/\">SAbic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sipchem\/\">SIPCHEM<\/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=\"85179\" 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=\"85179\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/dairy-and-juice-giant-nadec-reappoints-abdulaziz-alrebdi-as-chairman\/\">\r\n                            Dairy and juice giant Nadec reappoints Abdulaziz Alrebdi as chairman                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/dairy-and-juice-giant-nadec-reappoints-abdulaziz-alrebdi-as-chairman\/\" 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\/15\/dairy-and-juice-giant-nadec-reappoints-abdulaziz-alrebdi-as-chairman\/')\">\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\/15\/dairy-and-juice-giant-nadec-reappoints-abdulaziz-alrebdi-as-chairman\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Dairy and juice giant Nadec reappoints Abdulaziz Alrebdi as chairman&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/dairy-and-juice-giant-nadec-reappoints-abdulaziz-alrebdi-as-chairman\/\">\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\/15\/dairy-and-juice-giant-nadec-reappoints-abdulaziz-alrebdi-as-chairman\/&title=Dairy and juice giant Nadec reappoints Abdulaziz Alrebdi as chairman\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Dairy+and+juice+giant+Nadec+reappoints+Abdulaziz+Alrebdi+as+chairman+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F15%2Fdairy-and-juice-giant-nadec-reappoints-abdulaziz-alrebdi-as-chairman%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\/15\/dairy-and-juice-giant-nadec-reappoints-abdulaziz-alrebdi-as-chairman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/842.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85180\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/dairy-and-juice-giant-nadec-reappoints-abdulaziz-alrebdi-as-chairman\/842-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/842.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"842.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/842.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/842.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85179\" class=\"content-area-description single-story post-85179 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-ksa tag-moves 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\/.cb993cd6-fa70-4a76-8303-c159cc7649d4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The board of Tadawul-listed dairy giant Natural Agricultural Development <\/strong><strong>Company (<\/strong><strong>Nadec) has&nbsp;<\/strong><strong>Abdulaziz Saleh Alrebdi (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/nadec.com\/en\/about\/#section-1087-67\" style=\"\" rel=\"noopener\">bio<\/a><\/strong><strong>) <\/strong><strong>as its chairman<\/strong> for a new four-year term running through April 2028, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3xpb7esd\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Alrebdi\u2019s service on boards of major companies includes terms with Abdullah Al Othaim Markets and Al Hokair Group, among others.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85181\" 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=\"85181\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/saudi-ground-services-gets-sar-2-bn-renewal-of-flynas-contract\/\">\r\n                            Saudi Ground Services gets SAR 2 bn renewal of Flynas contract                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Saudi Ground Services gets SAR 2 bn renewal of Flynas contract&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/saudi-ground-services-gets-sar-2-bn-renewal-of-flynas-contract\/\">\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\/15\/saudi-ground-services-gets-sar-2-bn-renewal-of-flynas-contract\/&title=Saudi Ground Services gets SAR 2 bn renewal of Flynas contract\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Saudi+Ground+Services+gets+SAR+2+bn+renewal+of+Flynas+contract+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F15%2Fsaudi-ground-services-gets-sar-2-bn-renewal-of-flynas-contract%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\/15\/saudi-ground-services-gets-sar-2-bn-renewal-of-flynas-contract\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/867.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85182\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/saudi-ground-services-gets-sar-2-bn-renewal-of-flynas-contract\/867-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/867.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"867.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/867.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/867.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85181\" class=\"content-area-description single-story post-85181 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-ades-holding tag-also-on-our-radar tag-enterpriseam-ksa tag-knowledge-economic-city 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\/.72eee79f-98f8-44e4-bd45-2419e5f5a142.mp3\"><\/audio><\/figure><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>Saudi Ground Services (SGS) renewed its ground handling services <\/strong><strong>contract with Flynas<\/strong> covering domestic and international flights for the next five years under a SAR 2 bn contract, 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\/lVDLbsIwEPyWHjiCN0SEtDe3qCGId6BALsgxSxIpiSPHgdKvbx5IiBYqavngHc_Mzi5xyZq4CTuEPlOhSFhU1BvX2HaoAe2-CRPoL97AAMcylgtT67UNsrommCPLgNmYzibtbgesDyDuv_TgTDswe5-O9CHMwQLjMT3cOfSB_u41ZUKfu0WCwatlD6luGt2fhBsj_mjye4aK8EfIAXH9SHj1wmni6aZPXIl7lChbuSzgQKk0e2lAA47HY8sXwo-wxUXcgFuSQGSKrK-ZxMGkWlf37j5sjawkZiKXHMncR0WTROQJxxgTNQwz1WOKkRlnPMAhHjCaMh-JU87HdocwEzIrWWRTIhlyJWQvtXfn-hR7IqrfqRS7nKvFKcUaUKKwPr_TwtQJv4pKg9qISR5cuOX_OI89lD2PbNoltJcivhiwMjUvM9cibdvUqib4qZzKrObtCsUUZSjKhGm8XK4htJuud9L1mMamfn2P9OkbK6f_eg!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MDMxL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5MzQz\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Flynas has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/55c51d3c-653b-4209-8f5f-b7d63399e779\/retail-inks-sar-1.2-bn-housing-contract-in-jubail.-plus:-chinese-tourism-bookings,-foster-%2B-partners,-blueberries,-and-more\" style=\"\" rel=\"noopener\">recently joined<\/a> the UN World Tourism Organization as an affiliate member, becoming the first Saudi airline and low cost carrier to join from the Middle East. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reaction<\/strong>: SGS shares rose 5.2% to SAR 51.50 a piece at yesterday\u2019s close.<\/p>\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Knowledge Economic City has inked two construction contracts for<\/strong><strong> Al Alya project <\/strong><strong>with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.elkhereiji-contracting.com.sa\/\" style=\"\" rel=\"noopener\">Elkhereiji Commerce and Contracting<\/a><\/strong>, it said in two separate filings to Tadawul, <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MzEwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5MzUw\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MzEwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5MzQ2\/\" style=\"\" rel=\"noopener\">here<\/a>. Implementation includes structural, landscaping, electromechanical and site works on a total of 12 residential buildings \u2014 396 apartments \u2014 for phase one of the Al-Alya mixed-use project in Madinah. The SAR 171 mn contract covers eight of the 12 complexes and will run for 20 months starting Sunday, 5 May 2024. The second contract includes the remaining four residential buildings for an additional SAR 117.5 mn. It will run for a period of 24 months.<\/p>\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:\/\/alkathiriholding.com\/en\/\" style=\"\" rel=\"noopener\">Al<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/alkathiriholding.com\/en\/\" style=\"\" rel=\"noopener\">Kathiri<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/alkathiriholding.com\/en\/\" style=\"\" rel=\"noopener\">Holding<\/a><\/strong><strong> has secured a SAR 21 mn infrastructure development <\/strong><strong>project with <\/strong><strong>the State Security Presidency<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qCGId6BALsgxSxIpiSPHgdKvbx5IiBYqavngHc_Mzi5xyZq4CTuEPlOhSFhU1BvX2HaoAe2-CRPoL97AAMcylgtT67UNsrommCPLgNmYzibtbgesDyDuv_TgTDswe5-O9CHMwQLjMT3cOfSB_u41ZUKfu0WCwatlD6luGt2fhBsj_mjye4aK8EfIAXH9SHj1wmni6aZPXIl7lChbuSzgQKk0e2lAA47HY8sXwo-wxUXcgFuSQGSKrK-ZxMGkWlf37j5sjawkZiKXHMncR0WTROQJxxgTNQwz1WOKkRlnPMAhHjCaMh-JU87HdocwEzIrWWRTIhlyJWQvtXfn-hR7IqrfqRS7nKvFKcUaUKKwPr_TwtQJv4pKg9qISR5cuOX_OI89lD2PbNoltJcivhiwMjUvM9cibdvUqib4qZzKrObtCsUUZSjKhGm8XK4htJuud9L1mMamfn2P9OkbK6f_eg!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8zMDA4L2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5MzQy\/\" style=\"\" rel=\"noopener\">a regulatory filing to Tadawul<\/a>. <a target=\"_blank\" href=\"https:\/\/msandh.com\/ar\/\" style=\"\" rel=\"noopener\">Msandh Alemdad<\/a> \u2014 a unit of Al Kathiri \u2014 will carry out the supply and implementation of structural, architectural, mechanical and electrical works of a building in Riyadh. No further details were provided.<\/p>\n<p class=\"tag-border-left\">OIL &amp; GAS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>O<\/strong><strong>il and gas drilling company Ades Holding <\/strong><strong>was awarded a SAR 350 mn jack-up drilling <\/strong><strong>project in Qatar<\/strong>, with what it says is \u201cone of the major international oil companies,\u201d according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/784.pdf\" style=\"\" rel=\"noopener\">a company press release (pdf)<\/a>. The one-year contract is subject to renewal for up to 18 months. Operations on the rigs are scheduled for kick off in 2H 2024. <\/p>\n<p class=\"tag-border-left\">EDUCATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>National Company for Learning and Education (NCLE) <\/strong>has inked a 20-year lease contract valued at SAR 87 mn to operate an educational complex in Riyadh, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc4z3ne6\" style=\"\" rel=\"noopener\">a statement to Tadawul<\/a>. <\/p>\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.smeh.com.sa\/en\" style=\"\" rel=\"noopener\">Scientific and Medical Equipment House<\/a><\/strong><strong> signed a five-year agreement with the Health <\/strong><strong>Ministry, <\/strong><strong>valued at SAR 180.3 mn <\/strong>to supply cooked food services for Madinah-based hospitals including King Fahd Cardiac Center, Uhud, and Al-Miqat General, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/46sxumvh\" style=\"\" rel=\"noopener\">a statement to Tadawul<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ades-holding\/\">Ades Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/knowledge-economic-city\/\">Knowledge Economic City<\/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=\"85183\" 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=\"85183\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/market-regulators-and-imf-hold-first-joint-conference-on-sidelines-of-spring-meetings\/\">\r\n                            Market regulators and IMF hold first joint conference on sidelines of spring meetings                        <\/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\/15\/market-regulators-and-imf-hold-first-joint-conference-on-sidelines-of-spring-meetings\/\" 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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Headlined \u201cStabilizing the future: Managing the nexus between growing capital markets and stability implications,\u201d the conference will deliver high-level discussions on funding market resilience, the rising significance of private funds, as well as cooperation between central banks and securities regulators.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first panel will look into how to avoid liquidity crunches in various funding <\/strong><strong>markets<\/strong>, including short-term funding markets, corporate bond, and government bond markets. Speakers will include Egyptian Financial Regulatory Authority (FRA) Chairman Mohamed Farid as well as officials from the IMF, Barclays, and Blackrock. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The second panel will explore reasons behind the rise of private funds over the last <\/strong><strong>decade to reach an excess of USD 11 tn.<\/strong> It will untangle risks emerging from the rise of the sector and how policymakers could address such risks to financial stability. Speakers will include the head of the UK Financial Conduct Authority. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One for the regulators:<\/strong> The conference\u2019s high-level policy panel will bring together representatives of central banks and securities regulators to chew over how to regulate a market in which non-banks are increasingly important. Speakers include IOSCO Chairman Jean-Paul Servais, and a top US Treasury Department official.<\/p>\n<p class=\"tag-border-left\"> THE MARKET THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Major Asian benchmarks are down across the board this morning <\/strong>as traders absorb yesterday\u2019s Iranian missile and drone attack on Israel \u2014 itself a response to Israel\u2019s unprecedented attack on Iran\u2019s embassy compound in Damascuts. The Shanghai Composite is taking it in stride, off 0.3% in early trading, while the Hang Seng, Kospi, and Nikkei are all down 1.1-1.3%. <strong>US stock futures are up slightly<\/strong> and European futures have edged a bit lower overnight. <\/p>\n<p><a target=\"_blank\" id=\"t.9a48996be0da11d4b25f42e0629bc18e77a17926\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,667<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +5.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,615<\/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: +4.2%)<\/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\">26,390<\/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\">+0.5% (YTD: 7.6%)<\/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\">28,504<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3% (YTD: +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-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,123<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.5% (YTD: 7.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 1<\/strong><strong>0<\/strong><strong>0<\/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\">7,995.6<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (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>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,955<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +9.6%)<\/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>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\">90.45<\/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%<\/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\">+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">2,374<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-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\">64,121<\/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\">+2.1% (YTD: +53.2%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI<\/strong> fell 0.3% <strong>yesterday <\/strong>on turnover of SAR 6.3 bn. The index is up 5.9% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Atheeb Telecom (+10%), Acwa Power (+6.7%) and SSP (+6.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Sipchem (-4.7%), ANB (-4.1%) and SNB (-3.3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong> rose 0.5% <strong>yesterday <\/strong>on turnover of SAR 44.8 mn. The index is up 7.6% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong>Raoom (+19.9%), Paper Home (+9.6%) and AlRashid Industrial (+9.5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>AlBabtain Food (-8.6%), Naseeh Tech (-8.3%) and AlMujtama Medical (-7.8%)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Tawuniya\u2019s BoD recommended the distribution of a SAR 150 mn dividend for 2023 at <\/strong><strong>SAR 1 per share<\/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\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC84MDEwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5MzQ5\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Gulf Insurance Group\u2019s BoD<\/strong><strong>recommended the distribution of a SAR 78.8 mn <\/strong><strong>dividend for 2023 at SAR 1.5 per share<\/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\/lVDLbsIwEPyWHjiCN0SEtDe3qCGId6BALsgxSxIpiSPHgdKvbx5IiBYqavngHc_Mzi5xyZq4CTuEPlOhSFhU1BvX2HaoAe2-CRPoL97AAMcylgtT67UNsrommCPLgNmYzibtbgesDyDuv_TgTDswe5-O9CHMwQLjMT3cOfSB_u41ZUKfu0WCwatlD6luGt2fhBsj_mjye4aK8EfIAXH9SHj1wmni6aZPXIl7lChbuSzgQKk0e2lAA47HY8sXwo-wxUXcgFuSQGSKrK-ZxMGkWlf37j5sjawkZiKXHMncR0WTROQJxxgTNQwz1WOKkRlnPMAhHjCaMh-JU87HdocwEzIrWWRTIhlyJWQvtXfn-hR7IqrfqRS7nKvFKcUaUKKwPr_TwtQJv4pKg9qISR5cuOX_OI89lD2PbNoltJcivhiwMjUvM9cibdvUqib4qZzKrObtCsUUZSjKhGm8XK4htJuud9L1mMamfn2P9OkbK6f_eg!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC84MjUwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5MzQx\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regulation\/\">REGULATION<\/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=\"85185\" 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=\"85185\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/riyadh-abu-dhabi-could-be-key-to-averting-a-wider-regional-conflict-as-iran-and-israel-exchange-strikes\/\">\r\n                            Riyadh, Abu Dhabi could be key to averting a wider regional conflict as Iran and Israel exchange strikes                        <\/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\/15\/riyadh-abu-dhabi-could-be-key-to-averting-a-wider-regional-conflict-as-iran-and-israel-exchange-strikes\/\" 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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class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Riyadh%2C+Abu+Dhabi+could+be+key+to+averting+a+wider+regional+conflict+as+Iran+and+Israel+exchange+strikes+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F15%2Friyadh-abu-dhabi-could-be-key-to-averting-a-wider-regional-conflict-as-iran-and-israel-exchange-strikes%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\/15\/riyadh-abu-dhabi-could-be-key-to-averting-a-wider-regional-conflict-as-iran-and-israel-exchange-strikes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85185\" class=\"content-area-description single-story post-85185 post type-post status-publish format-standard hentry category-diplomacy tag-diplomacy tag-enterpriseam-ksa tag-saudi-iran-relations tag-saudi-us-relations 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\/.fd3c7eba-8a01-4ae4-a6b9-6c6172f88774.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Riyadh and Abu Dhabi could be key to preventing a wider regional war after <\/strong><strong>Iran and Israel exchange unprecedented attacks<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/gulf-states-vulnerable-influential-seek-stop-new-iran-israel-war-2024-04-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> writes, noting that the two regional leaders have the right network of ties to Washington, Tel Aviv, and Tehran to guide things onto a less volatile path. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A spillover that everyone is trying to avoid:<\/strong> \u201cNobody wants an escalation. Everybody wants to contain the situation,\u201d a Gulf source with knowledge of his government\u2019s thinking said. \u201cThe pressure is not on Iran alone. The pressure is now on Israel not to retaliate,\u201d the source said, adding that a retaliatory attack by Israel on vital Iranian sites \u201cwill affect all the region.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi is working overtime to put a lid on the brewing conflict:<\/strong> Foreign Minister Prince Faisal bin Farhan put in a call to his Iranian counterpart Hossein Amirabdollahian, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2082899\" style=\"\" rel=\"noopener\">state news<\/a><a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2082899\" style=\"\" rel=\"noopener\">agency SPA<\/a> reported, while Defense Minister Prince Khaled bin Salman <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2082895\" style=\"\" rel=\"noopener\">reached out<\/a> to US Defense Secretary Lloyd Austin. Crown Prince Mohammed bin Salman, meanwhile, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2082906\" style=\"\" rel=\"noopener\">spoke with<\/a> Iraqi Prime Minister Mohammed Shia Al Sudani.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Foreign Ministry urged both sides to \u201cexercise maximum restraint\u201d<\/strong> in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/KSAMOFA\/status\/1779300183378977073\" style=\"\" rel=\"noopener\">statement on<\/a><a target=\"_blank\" href=\"https:\/\/twitter.com\/KSAMOFA\/status\/1779300183378977073\" style=\"\" rel=\"noopener\">X<\/a>. It warned of the \u201cserious repercussions\u201d for the region if either took things to the next level. The statement came just hours after Iran fired over 300 drones and missiles in what is Tehran\u2019s first direct attack against Tel Aviv from its own soil. Iran said it <a target=\"_blank\" href=\"https:\/\/en.mfa.gov.ir\/portal\/newsview\/743288\" style=\"\" rel=\"noopener\">carried out the strikes<\/a> on Israeli military bases under its \u201cinherent right for self defense\u201d after Israel\u2019s unprecedented attack on its embassy compound in Syria.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ll stop, if you do: <\/strong>Iran said it has concluded its retaliatory action against Israel, but warned of a \u201cconsiderably more severe\u201d response if Israel responds, its mission to the UN said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/Iran_UN\/status\/1779269993043022053\" style=\"\" rel=\"noopener\">post on X<\/a>. Israeli war cabinet minister Benny Gantz said his country will \u201cexact a price\u201d from Iran in return, according to <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/live\/world-middle-east-68737710?src_origin=BBCS_BBC\" style=\"\" rel=\"noopener\">BBC<\/a>. \u201cWe will build a regional coalition and exact the price from Iran in the fashion and timing that is right for us,\u201d Gantz said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US President Joe Biden reportedly told Israeli PM Benjamin Netanyahu that America will <\/strong><strong>not be involved in retaliatory action against Iran<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israels-netanyahu-vows-victory-after-iran-strikes-fears-wider-conflict-grow-2024-04-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported yesterday, citing officials. Washington will help Tel Aviv protect itself, but has no interest in a wider conflict, White House top national security spokesperson John Kirby said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-iran-relations\/\">Saudi-Iran relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-us-relations\/\">Saudi-US relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85186\" 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\/15\/85186\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85186\" class=\"content-area-description single-story post-85186 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;\">11-20 April (Thursday-Saturday): IMF and World Bank spring meetings, Washington, DC.<\/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;\">14-18 April (Sunday-Thursday): The King Salman bin Abdulaziz Royal Reserve Festival, Al-Qurayyat. <\/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;\">16 April (Tuesday): FEI World Cup Equestrian, 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;\">28-29 April (Sunday-Monday): World Economic Forum Special Meeting, 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;\">29 April-1 May: Future Hospitality Summit at Al Faisaliah Hotel, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 April-2 May: Automechanika Riyadh 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 style=\"font-weight:400;\">2-5 May (Thursday-Sunday): Townhall 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:400;\">6-9 May (Monday-Thursday): Saudi Smart Manufacturing, 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;\">6-9 May (Monday-Thursday): Saudi Smart Logistics, 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;\">13-15 May (Monday-Wednesday): Smart Future 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:400;\">13 May (Monday): Saudi Giga Projects, 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;\">19-21 May (Sunday-Tuesday): Saudi Energy Convention, 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;\">20-21 May (Monday-Tuesday): Future Projects Forum, 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 style=\"font-weight:400;\">20-22 May (Monday-Wednesday): Future Aviation Forum 2024, 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;\">21-23 May (Tuesday-Thursday): The Saudi Food Show, 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 style=\"font-weight:400;\">4-7 June (Tuesday-Friday): Saudi Sports Show, 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;\">4-7 June (Tuesday-Friday): Aqarat 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:400;\">5 June (Wednesday): World Environment Day.<\/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 style=\"font-weight:400;\">11-12 September (Wednesday-Thursday): The Saudi Event Show, 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;\">17-19 September (Tuesday-Thursday): EV Auto Show, 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;\">24-26 September (Tuesday-Thursday) Saudi Infrastructure Expo, 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 style=\"font-weight:400;\">2-9 November (Saturday- Saturday): WTA Finals, 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;\">26-28 November (Tuesday-Thursday): Saudi Electricity 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:400;\">11-14 November (Monday-Thursday): Cityscape Global, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-13 December (Monday-Friday): Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2024:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">The AFC Champions League Elite<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10-13 February (Monday-Thursday): Leap 2025, the Kingdom\u2019s premier tech investment conference<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Al Jazira Capital\u2019s earnings outlook | IMF \/ World Bank spring meetings start | Flynas renews SGS contract | Crowdfunded debt for SMEs<\/p>\n","protected":false},"featured_media":85172,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-85171","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"27ef0f73-7ff1-4b57-8f9b-4e1317bfbbf3","teaser":"Al Jazira Capital\u2019s earnings outlook | IMF \/ World Bank spring meetings start | Flynas renews SGS contract 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