{"id":85291,"date":"2024-04-18T00:00:00","date_gmt":"2024-04-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=85291"},"modified":"2025-12-14T17:52:53","modified_gmt":"2025-12-14T17:52:53","slug":"is-neom-lining-up-its-first-ever-sukuk-sale","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/is-neom-lining-up-its-first-ever-sukuk-sale\/","title":{"rendered":"Is Neom lining up its first-ever sukuk sale?"},"content":{"rendered":"<section id=\"85293\" 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=\"85293\">\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\/18\/a-new-africa-focused-airline-may-be-coming-sama-wants-applicants-for-a-new-investment-banking-training-program\/\">\r\n                            THIS MORNING: A new Africa-focused airline may be coming to Saudi + Sama wants applicants for a new investment banking training program                        <\/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\/18\/a-new-africa-focused-airline-may-be-coming-sama-wants-applicants-for-a-new-investment-banking-training-program\/\" 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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We have a busy news morning for you, so let\u2019s jump right in:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>WATCH THIS SPACE #1- An unnamed investor is looking to launch a<\/strong><strong> new airline <\/strong><strong>serving routes to <\/strong><strong>Africa<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/04\/16\/article_2718196.html\" style=\"\" rel=\"noopener\">Aleqtisadiyah reports<\/a> citing unnamed sources it says have knowledge of the plan. The airline has received the go-ahead from both local regulators and the African Civil Aviation Commission, according to the sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s just one of a number of possible shakeups of the local aviation industry: <\/strong>The Public Investment Fund announced in March 2023 that it will launch Riyadh Air. The challenger to Emirates and Qatar Airways will see its first flights in the air <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8cb34099-b080-4684-a0e2-3a2488ce9c9c\/the-pif-wants-to-buy-saudia\" style=\"\" rel=\"noopener\">next year<\/a> and aims to serve 100 destinations by 2030. Current national flag carrier Saudia will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/b8a916d0-87ca-4a28-8726-543ac095fd3c\/today:-israel-accuses-houthis-of-seizing-british-owned-cargo-ship-in-the-red-sea-%2B%253cmark%253e-saudia-%253c%2Fmark%253ewill-leave-riyadh-in-2030-as-riyadh-air-takes-charge\" style=\"\" rel=\"noopener\">bid adieu<\/a> to Riyadh by 2030 to make way for Riyadh Air and will instead base itself out of King Abdulaziz International Airport.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>WATCH THIS SPACE #2- The Second Milling Co. (MC2) has changed its name to Arabian Mills<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/Arabianmills\/status\/1780205027484733525\" style=\"\" rel=\"noopener\">post on X<\/a>. The miller, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-arabia-completes-second-final-phase-mills-privatisation-sago-2021-04-20\/\" style=\"\" rel=\"noopener\">privatized in 2021<\/a> under the government\u2019s privatization scheme for its state-owned milling firms, is said to be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/253eea5f-4e1f-4a54-9773-c2451a1cc9a2\/mbc-timeline-update,-miller-smc-could-go-public-on-tadawul-%2B-armah-sports%25e2%2580%2599-nomu-offering-is-4x-oversubscribed\" style=\"\" rel=\"noopener\">eyeing an IPO<\/a> on Tadawul\u2019s main market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE #3- The Housing Ministry will ink an agreement next month with a Spanish real <\/strong><strong>estate <\/strong><strong>developer <\/strong>to build residential units within integrated residential communities and neighborhoods in Saudi, <a target=\"_blank\" href=\"https:\/\/www.alriyadh.com\/2070665\" style=\"\" rel=\"noopener\">Al Riyadh<\/a> reported yesterday, citing statements by minister Majed Al Hogail at the Saudi-Spain Business Forum in Madrid. He did not provide further details, but said the plan comes under the ministry\u2019s target to raise home ownership by 70% in 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>Al Hogail was in Spain for talks with Spanish officials on housing, infrastructure and real estate development among other topics.<\/p>\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The state-run <\/strong><strong><a target=\"_blank\" href=\"https:\/\/tawtheeq.musaned.com.sa\/\" style=\"\" rel=\"noopener\">Musaned<\/a><\/strong><strong> recruitment platform for labor agencies here and abroad <\/strong><strong>processed some 2 mn contracts <\/strong>last year for domestic workers from 33 countries, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2085207\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> <strong>. It didn\u2019t give a comparable figure for 2022, but said growth in contracts processed came on the back of growing numbers of contracts for people from <\/strong>Ethiopia, Burundi, Sierra Leone, Tanzania and Gambia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Honey production in Saudi rose 41% y-o-y in 2023 to 3.1k tons <\/strong>in comparison with 2021 levels, state news agency SPA reported yesterday, citing data by the Environment Ministry-affiliated Sustainable Agricultural Rural Development Program (Reef Saudi).<\/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\"><a id=\"wwtt2\"><\/a> <strong>#1- Do you have a recent finance or B-school grad in the family who is interested in a <\/strong><strong>career in investment banking? <\/strong>The Saudi Central Bank is accepting applications for a <strong>six-week investment banking training program<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.sama.gov.sa\/en-us\/news\/pages\/news-1020.aspx\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The program includes a mix of coursework and on-the-job training and was designed in partnership with the Wharton School at the University of Pennsylvania as well as top global banks and asset managers. <\/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:\/\/careers.sama.gov.sa\/job\/Head-Office-%D8%A8%D8%B1%D9%86%D8%A7%D9%85%D8%AC-%D8%AA%D8%B7%D9%88%D9%8A%D8%B1-%D8%A7%D9%84%D9%83%D9%81%D8%A7%D8%A1%D8%A7%D8%AA-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D9%8A%D8%A9-%D8%A7%D9%84%D9%86%D8%B3%D8%AE%D8%A9-%D8%A7%D9%84%D8%B1%D8%A7%D8%A8%D8%B9%D8%A9\/854392123\/\" style=\"\" rel=\"noopener\">You (or your spawn) can apply for the program<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/careers.sama.gov.sa\/job\/Head-Office-%D8%A8%D8%B1%D9%86%D8%A7%D9%85%D8%AC-%D8%AA%D8%B7%D9%88%D9%8A%D8%B1-%D8%A7%D9%84%D9%83%D9%81%D8%A7%D8%A1%D8%A7%D8%AA-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D9%8A%D8%A9-%D8%A7%D9%84%D9%86%D8%B3%D8%AE%D8%A9-%D8%A7%D9%84%D8%B1%D8%A7%D8%A8%D8%B9%D8%A9\/854392123\/\" style=\"\" rel=\"noopener\">here<\/a><\/strong><strong>. <\/strong>The deadline is 30 May.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>Get a 50% break on all of your unpaid traffic fines starting today<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2085668\" style=\"\" rel=\"noopener\">state<\/a><a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2085668\" style=\"\" rel=\"noopener\">news agency SPA<\/a> yesterday. Want to take advantage of the break? You\u2019ll need to cough up what you owe within the next six months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Look for clear skies in&nbsp;<strong>Riyadh<\/strong> with a high of 32\u00b0C, dipping to 17\u00b0C overnight <strong>Makkah<\/strong> could sprinkles today with a high of 38\u00b0C (cooling to 25\u00b0C overnight) while <strong>Tabuk<\/strong> is looking at the chance of blowing dust with a high of 34\u00b0C today and a low tonight of 17\u00b0C.<\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD: WAR?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To use the language of the weather forecasters: It\u2019s a mixed day for news <\/strong>around the world, with no single story holding sway and little but clouds in the sky. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Mattering most to our corner of the world: Israel\u2019s allies are increasingly convinced <\/strong><strong>that it will respond militarily <\/strong>\u2014 in one form or another \u2014 to Iran\u2019s Sunday missile and drone attack.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cIt is clear that the Israelis are making a decision to act.<\/strong> We hope that they do so in a way that does as little to escalate this as possible,\u201d British Foreign Minister David Cameron <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/04\/17\/world\/iran-israel-gaza-war-news\/britains-foreign-secretary-signals-that-israel-will-not-let-irans-assault-go-unanswered?smid=url-share\" style=\"\" rel=\"noopener\">said yesterday<\/a> as he headed into a meeting with Israel\u2019s Benjamin Netanyahu, who yesterday warned Cameron and German Foreign Minister <a target=\"_blank\" href=\"https:\/\/www.yahoo.com\/news\/german-foreign-minister-israel-prudent-160247911.html\" style=\"\" rel=\"noopener\">Annalena Baerbock<\/a> (also in Tel Aviv for a visit) that \u201cwe will make our own decisions.\u201d <strong>G7 nations have still not announced the sanctions <\/strong>on Iran that they hope might convince Netanyahu to sit tight.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Iran is readying its air force <\/strong>and said its navy will start escorting Iranian commercial ships in the Red Sea as it prepares for an Israeli attack on its territory or allies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- AND- Ceasefire talks on Gaza <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/qatar-says-gaza-ceasefire-talks-delicate-phase-2024-04-17\/\" style=\"\" rel=\"noopener\">seem as stalled as ever<\/a><\/strong> (Egypt and Qatar are mediating the negotiations) and Iran-backed <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/hezbollah-launches-missiles-drones-northern-israel-wounding-14-israeli-soldiers-2024-04-17\/\" style=\"\" rel=\"noopener\">Hezbollah wounded 14 Israeli soldiers<\/a> in a drone and missile attack yesterday in retaliation for Israeli attacks that killed Hezbollah troops.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: The UN General Security Council will <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/un-security-council-vote-friday-palestinian-un-membership-2024-04-17\/\" style=\"\" rel=\"noopener\">vote tomorrow<\/a><\/strong><strong> on a Palestinian <\/strong><strong>request for full membership <\/strong>in the world body. A \u201cyes\u201d vote would be tantamount to international recognition of Palestinian statehood, so expect a US veto. Palestinian President Mahmoud Abbas <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/04\/17\/un-palestine-membership-biden\" style=\"\" rel=\"noopener\">reportedly snubbed a request from the Biden administration<\/a> to delay the request.<\/p>\n<p class=\"tag-border-left\">IN THE BUSINESS PAGES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Wall Street is tempering its expectations of a Fed rate cut this year<\/strong>, with most interpreting <a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/21d76df7-6b42-4989-962a-9d346e5dbf68\" style=\"\" rel=\"noopener\">Jay Powell\u2019s remarks earlier this week<\/a> as meaning the first change in rates won\u2019t come until September at the earliest. Bank of America economists, meanwhile, say there\u2019s a \u201creal risk\u201d the central bank won\u2019t cut rates until March 2025 \u201cat the earliest.\u201d <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/04\/17\/wall-street-pushes-out-rate-cut-expectations-sees-risk-of-no-action-until-2025.html\" style=\"\" rel=\"noopener\">CNBC<\/a> has a solid roundup of sentiment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That comes as IMF boss Kristalina Giorgieva <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/imf-chief-warns-central-banks-against-cutting-too-soon-16033035\" style=\"\" rel=\"noopener\">warned overnight<\/a><\/strong><strong> that \u201ccentral banks should <\/strong><strong>resist the temptation to lower their key interest rates too early<\/strong> and risk a resurgence of inflation and a fresh bout of policy tightening.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s day four of the IMF and World Bank spring meetings <\/strong>in Washington, DC, so stay tuned for more policy discussion heading into the weekend. We\u2019ll have the wrap-up for you in EnterpriseAM at the start of next week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- US equities have now posted their longest losing streak so far this year<\/strong>after the S&amp;P 500 and the Nasdaq fell for a fourth day in a row. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SIGN OF THE TIMES- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/dddd996e-0ac0-48cf-b76a-99745e7b4c56\" style=\"\" rel=\"noopener\">The \u201cfear gauge\u201d is soaring<\/a><\/strong><strong> after Powell\u2019s remarks and amid <\/strong><strong>worries that Iran-Israel tensions could spill over into a regional war. <\/strong>The volatility index, or VIX, is at its highest level since Hamas\u2019 attack on Israel, meaning \u201cUS investors are paying the biggest premiums since October to protect their portfolios against market gyrations.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Tuesday\u2019s crazy rain and flooding in the UAE have captured the imagination of <\/strong><strong>business editors<\/strong>, with the story getting front-page play in the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3b1fa9d7-9151-4d0a-a94f-e3c16af4138b\" style=\"\" rel=\"noopener\">Financial Times<\/a>, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/04\/17\/photos-show-heavy-rain-and-severe-flooding-in-the-united-arab-emirates.html\" style=\"\" rel=\"noopener\">CNBC<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-17\/dubai-s-record-rainfall-forces-flight-diversions-and-floods-city\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, among others. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"http:\/\/enterprise.news\/uae\/en\/news\/story\/40defb25-3f93-4dbc-8a68-349b11bca13e\" style=\"\" rel=\"noopener\">EnterpriseAM UAE reports<\/a><\/strong><strong> that some buildings were still without power yesterday <\/strong>and Dubai International Airport warned passengers to \u201cNOT come to the airport unless absolutely necessary.\u201d<\/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\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- Al Hilal lost 4-2 to UAE\u2019s Al Ain in the first leg of the Asian Champions League <\/strong><strong>semi-final yesterday<\/strong>, with Al Ain\u2019s Soufiane Rahimi's putting an end to the Saudi side\u2019s record of 34 consecutive wins. The loss comes after the game was delayed for a day after Tuesday\u2019s historic rain storm lashed the Emirates. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Time to focus on Jeddah-Riyadh clash:<\/strong> A scheduled fixture between Al Hilal and Al Ahli in the Saudi Pro League on Friday will now be played on Monday, 6 May, the SPL said yesterday in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/SPL_EN\/status\/1780624998115246477\" style=\"\" rel=\"noopener\">post on X<\/a>. Blame the delay in the Al Ain fixture for the postponement. Al <strong>Hilal currently sits on top of the league table with 77 points<\/strong>, while Al Ahli is third with 52 points.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#2- The World Masters of Snooker will come back to Riyadh next year<\/strong> with USD 1 mn purse on offer as Riyadh Season becomes an official partner of the World Snooker Championship, General Entertainment Authority Chairman Turki Alshikh said yesterday in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/Turki_alalshikh\/status\/1780325641227026642\" style=\"\" rel=\"noopener\">post on X<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- World number one snooker player Ronnie O'Sullivan will become a Saudi <\/strong><strong>ambassador for the sport<\/strong> for the next three years. He\u2019ll take part in all World Snooker Tour events here and coach young Arab talent. <\/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 wraps today in Riyadh. <\/strong>The five-day event showcases 29 films from across the region.<\/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 is also it its last day today <\/strong>at the Cultural Center in Al-Qurayyat governorate. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/isdb-am.org\/\" style=\"\" rel=\"noopener\">2024 IsDB Group annual meeting<\/a><\/strong> from Saturday, 27 April until Wednesday, 30 April. <\/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>Riyadh will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/swforum.sa\/?lang=en\" style=\"\" rel=\"noopener\">Saudi Water Forum<\/a><\/strong><strong> from Monday, 29 April to Wednesday, 1 May<\/strong>.<\/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. <\/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:\/\/twitter.com\/RDIA\/status\/1779857258974769512\" style=\"\" rel=\"noopener\">Innovation Week 2024<\/a><\/strong><strong> will kick off on Sunday, 21 April, <\/strong>at the King Abdulaziz City for Science and Technology (KACST) in Riyadh.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-arabia-monetary-authority\/\">Saudi Arabia Monetary Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85294\" 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=\"85294\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">GIGAPROJECTS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/is-neom-planning-its-first-ever-sukuk-sale\/\">\r\n                            Is Neom planning its first-ever sukuk sale?                        <\/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\/18\/is-neom-planning-its-first-ever-sukuk-sale\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The moves comes as Neom looks to diversify its funding sources and accelerate the pace of construction for its USD 500 bn development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong> The sources said the offering could raise up to SAR 5 bn and could come as soon as 2H 2024, subject to market conditions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale? <\/strong><strong>The<\/strong><strong> Public Investment Fund has poured most of the funding into the project in the form of equity.<\/strong> The city\u2019s developers are looking to diversify their sources of funding. The business information service says Neom secured a SAR 10 bn facility from a number of local lenders, while Sindalah, its luxury island destination, has taken on an additional SAR 3 bn in debt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Our friends at HSBC and the securities units of Al Rajhi Bank and the Saudi National Bank are said to be advising on the sukuk sale. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The PIF is also looking to tap global debt markets: <\/strong>The fund is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9eb3e954-0280-4850-8be9-becd1d915544\/%253cmark%253epif%253c%2Fmark%253e-may-tap-the-int%25e2%2580%2599l-debt-markets-more-regularly,-move-ahead-with-ipos-as-it-looks-ramp-up-pace-of-investment\" style=\"\" rel=\"noopener\">reportedly considering<\/a> more global bond sales and IPOs as it looks to ramp-up pace of investment. The move comes as the PIF is stepping in as the Kingdom\u2019s treasury prepares to run deficits through 2026 and pace out the implementation of some aspects of select Vision 2030 projects. It plans to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/acceafd9-1836-42cf-a014-4ef36aa98a09\/pif-kicks-off-its-second-debt-sale-of-the-year\" style=\"\" rel=\"noopener\">ramp up annual deployment capacity<\/a> to USD 70 bn a year starting 2026, up from a current annual spending clip of USD 40-50 bn. The PIF has raised USD 7 bn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ba2ec221-20e3-415c-ae7a-0392be183bb4\/%253cmark%253epif-%253c%2Fmark%253eraises-usd-2-bn-from-second-debt-sale-of-2024,-could-tap-markets-again-in-second-half\" style=\"\" rel=\"noopener\">since the start of the year<\/a> in two global debt sales. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why international markets? <\/strong>Officials at multiple levels of government and the PIF have repeatedly said in recent months that they don\u2019t want to crowd private business out of the domestic debt market \u2014 and international appetite for the Saudi story is high. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been all about Neom in the past few weeks:<\/strong> Bloomberg said earlier this month that planners <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/083185a1-da33-46d9-809b-4562199b25b6\/a-slower-buildout-of%253cmark%253e-neom%253c%2Fmark%253e%3F\" style=\"\" rel=\"noopener\">had scaled back<\/a> their estimate for how many people would live in Neom\u2019s flagship project, The Line, by 2030, saying it would come in at a bit under 300k compared to the original 1.5 mn. That suggested a slower buildout with at least one of the contractors working on the project set to lay off some of the workers on site, the business information service wrote. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Neom has pushed back on the report \u2014 it brought in some 100 global construction firms <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d415e8f0-fa26-473b-acf6-0a2208bd6637\/everything-is-on-track-at%253cmark%253e-neom%253c%2Fmark%253e,-officials-tell-global-contractors-after-report-of-a-slower-build-out\" style=\"\" rel=\"noopener\">earlier this week<\/a><\/strong> to assure them that the build-out plan remains unchanged. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chinese interest? <\/strong>Neom officials yesterday marketed <a target=\"_blank\" href=\"https:\/\/www.neom.com\/en-us\/newsroom\/neom-hosts-leading-industry-figures-and-investors\" style=\"\" rel=\"noopener\">potential investments<\/a> to Chinese companies while attending a construction forum in Shanghai. More than 100 Chinese contractors attended the session, part of Neom\u2019s global \u201cDiscover Neom\u201d tour.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-rajhi-bank\/\">Al Rajhi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gigaprojects\/\">Gigaprojects<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hsbc\/\">HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neom\/\">NEOM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-national-bank-snb\/\">Saudi National Bank (SNB)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/the-line\/\">The Line<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85296\" 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=\"85296\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/extra-inches-closer-to-the-ipo-of-a-30-stake-in-tasheel-operator-united-international-holding\/\">\r\n                            eXtra gets shareholder approval to list 30% stake of subsidiary UIHC on Tadawul\u2019s main market                        <\/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\/18\/extra-inches-closer-to-the-ipo-of-a-30-stake-in-tasheel-operator-united-international-holding\/\" 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\/18\/extra-inches-closer-to-the-ipo-of-a-30-stake-in-tasheel-operator-united-international-holding\/')\">\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\/18\/extra-inches-closer-to-the-ipo-of-a-30-stake-in-tasheel-operator-united-international-holding\/\">\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=eXtra inches closer to the IPO of a 30% stake in Tasheel operator United International Holding&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/extra-inches-closer-to-the-ipo-of-a-30-stake-in-tasheel-operator-united-international-holding\/\">\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\/18\/extra-inches-closer-to-the-ipo-of-a-30-stake-in-tasheel-operator-united-international-holding\/&title=eXtra inches closer to the IPO of a 30% stake in Tasheel operator United International Holding\">\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=eXtra+inches+closer+to+the+IPO+of+a+30%25+stake+in+Tasheel+operator+United+International+Holding+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F18%2Fextra-inches-closer-to-the-ipo-of-a-30-stake-in-tasheel-operator-united-international-holding%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\/18\/extra-inches-closer-to-the-ipo-of-a-30-stake-in-tasheel-operator-united-international-holding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1106.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85297\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/extra-inches-closer-to-the-ipo-of-a-30-stake-in-tasheel-operator-united-international-holding\/1106-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1106.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1106.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1106.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1106.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85296\" class=\"content-area-description single-story post-85296 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-enterpriseam-ksa tag-ipo-watch tag-united-electronics-company-extra 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\/.71cde954-4ac9-41e9-8faf-edc27dd692be.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Shareholders of electronics retailer <\/strong><strong>eXtra<\/strong><strong> have approved the sale via IPO of <\/strong><strong>a 30% stake in the unit that <\/strong><strong>owns and operates Tasheel Finance<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2xvsan58\" style=\"\" rel=\"noopener\">disclosure<\/a><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2xvsan58\" style=\"\" rel=\"noopener\">to Tadawul<\/a> yesterday. Extra will sell <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f3ed9b86-2901-4e81-b661-6296caae82ed\/%253cmark%253eextra%253c%2Fmark%253e-looks-to-ipo-30%2525-of-its-highly-profitable-consumer-finance-arm\" style=\"\" rel=\"noopener\">7.5 mn shares<\/a> of United International Holding Co. (UIHC), its non-bank financial services arm, on Tadawul\u2019s main market. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not yet clear<\/strong><strong> how much eXtra hopes to <\/strong><strong>raise from the listing<\/strong>, but CEO Mohamed Galal told Al Arabiya yesterday the company would pull the trigger on the transaction by the end of the second quarter or of the fourth quarter of this year (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7185950353689849856\/\" style=\"\" rel=\"noopener\">watch, runtime: 9:50<\/a>). \u201cAfter receiving the necessary approvals [from relevant authorities], we will have six months [to finalize the listing],\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise? Second <\/strong><strong>or<\/strong><strong> fourth? <\/strong>Yep \u2014 nobody in this part of the world goes to market with an IPO in the summer months. The equity-raising window runs January-May (or June) using FY or 1Q numbers and reopens in September. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds: <\/strong>A portion of the IPO\u2019s proceeds would be channeled towards \u201crepaying a part of eXtra\u2019s debt estimated at SAR 190 mn,\u201d Galal said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A quick look at ownership:<\/strong> eXtra owns 99% of UIHC, which owns and operates the Tasheel brand, as well as Procco Financial Services in Bahrain. eXtra Bahrain owns 1% of UIHC.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UIHC has been doing well: <\/strong>The company turned in net income of SAR 156.8 mn for 9M 2023, up nearly 12% year on year \u2014 and good for a 41% net margin given that it posted revenues of SAR 383.2 mn in the same period. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And has big plans:<\/strong> UIHC says it wants to be the largest provider of shariah-compliant consumer finance in the Kingdom operating across multiple categories. It benefits from access to the 14 mn customers that pass through eXtra\u2019s 48 stores across the country and is broadening the base of companies that it works with.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Our friends at HSBC are quarterbacking the transaction. Look for news of the other advisors when the company\u2019s prospectus drops.\/<\/p>\n<p class=\"tag-border-left\">A SOLID IPO PIPELINE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have a solid IPO pipeline for Tadawul\u2019s main market <\/strong>taking shape for the remainder of the year:<\/p>\n<ul>\n<li>PIF-backed lender Riyad Bank is considering the listing of its investment banking arm <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/291a8d44-0629-42f6-ae3b-2f9c2eb7bcbd\/riyad-capital-is-eyeing-a-tadawul%253cmark%253e-ipo%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Riyad Capital<\/a><\/strong>;<\/li>\n<li>Hotels and resorts operator <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c8620363-c996-408b-8d01-914668fdbb63\/hotels-and-resorts-operator-boudl-says-it-will-file-to-go-public-this-year\" style=\"\" rel=\"noopener\">Boudl<\/a><\/strong> has filed to go public;<\/li>\n<\/ul>\n<ul>\n<li>Labor agency <strong><font face=\"Arial\">S<\/font>masco<\/strong> is in the chute;<\/li>\n<li>Water treatment company <strong>Miahona<\/strong> has gotten approval for an offering of 30% of its shares;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d75d0a47-62dd-49f0-acd2-6a6aeb2285c1\/hot-healthcare%253cmark%253e-ipo-%253c%2Fmark%253emarket-shows-no-sign-of-cooling-as-soliman-fakeeh-gets-nod-to-go-public\" style=\"\" rel=\"noopener\">Dr Soliman Abdul Kader Fakeeh Hospital (DSFH)<\/a><\/strong> has gotten regulatory approval to go public;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9da021c4-8337-47f8-b4f7-7e13f94d0e7e\/modern-mills-inches-closer-to-listing-on-main-market-tadawul\" style=\"\" rel=\"noopener\">Fourth Milling Company<\/a><\/strong> will list before the end of June;<\/li>\n<li>Singapore\u2019s <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/927c9005-50b0-4a1f-b4e5-599628a82d8b\/singapore%25e2%2580%2599s-olam-group-is-still-looking-at-a-saudi-ipo-for-is-agriculture-unit\" style=\"\" rel=\"noopener\">Olam Group<\/a><\/strong> is mulling the IPO of its Olam Agri subsidiary on Tadawul;<\/li>\n<li>Hypermarket operator <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/eaeb2656-fa3e-4e48-8d21-772adfd9470f\/hypermarket-operator-lulu-is-said-to-be-shopping-for-bankers-as-it-eyes-ipo-on-tadawul-and-adx\" style=\"\" rel=\"noopener\">Lulu<\/a><\/strong> is said to be eyeing a dual listing on Tadawul and ADX;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/78df2631-68ae-4b15-86cd-59bab3c278b7\/aster-dm-healthcare-eyes-expansion-in-saudi,-dual-listing-of-gcc-unit-on-tadawul\" style=\"\" rel=\"noopener\">Aster DM Healthcare<\/a><\/strong> looks set to spin-off its GCC assets and seek a dual listing on Tadawul and in the UAE.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And it\u2019s shaping up to be a good run for Nomu: <\/strong>The parallel market\u2019s pipeline this year includes Riyadh-based advisor <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d3827f9d-1d4d-4c69-9356-a44c16cce176\/yaqeen-capital-is-taking-a-20%2525-stake-to-market-on-nomu\" style=\"\" rel=\"noopener\">Yaqeen Capital<\/a> (itself a top advisor on Nomu IPOs), medical supplies outfit <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0211144f-6721-4388-955b-337053bec134\/qomel-plans-to-take-a-14%2525-stake-to-nomu\" style=\"\" rel=\"noopener\">Qomel<\/a>, Riyadh-based construction and mining firm <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b157eaa5-e651-4c5e-9e50-17a6190c92be\/al-rasheed-issues-a-prospectus-for-its-upcoming-ipo-on-nomu\" style=\"\" rel=\"noopener\">Mohammed Hadi Al-Rasheed<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0cc58c0f-fd29-427c-a17b-d7d08cd22820\/three-more-companies-line-up-to-list-on-nomu,-tadawul%25e2%2580%2599s-parallel-market\" style=\"\" rel=\"noopener\">Leaf Global Environmental Services<\/a>, petroleum derivatives manufacturer Petrol Naas and Arabian United Float Glass. Nomu-listed Gas Arabian Services (GAS) also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ab9b6303-65a6-4cfe-99fa-d2df8b0a84bd\/%253cmark%253egas%253c%2Fmark%253e-inches-closer-to-the-main-market.-plus:-tech,-manufacturing,-logistics\" style=\"\" rel=\"noopener\">plans to debut<\/a> an additional 10% stake on the market in a secondary share sale to meet the requirements to transition to Tadawul\u2019s main market.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/united-electronics-company-extra\/\">United Electronics Company (Extra)<\/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=\"85298\" 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=\"85298\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/riyad-capital-says-listed-software-services-and-healthcare-companies-will-post-fastest-earnings-growth-in-1q\/\">\r\n                            Riyad Capital is bullish about the software and services sector, but likes petrochems a bit less in its 1Q earnings forecast                        <\/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\/18\/riyad-capital-says-listed-software-services-and-healthcare-companies-will-post-fastest-earnings-growth-in-1q\/\" 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\/18\/riyad-capital-says-listed-software-services-and-healthcare-companies-will-post-fastest-earnings-growth-in-1q\/')\">\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\/18\/riyad-capital-says-listed-software-services-and-healthcare-companies-will-post-fastest-earnings-growth-in-1q\/\">\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=Riyad Capital says listed software, services, and healthcare companies will post fastest earnings growth in 1Q&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/riyad-capital-says-listed-software-services-and-healthcare-companies-will-post-fastest-earnings-growth-in-1q\/\">\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\/18\/riyad-capital-says-listed-software-services-and-healthcare-companies-will-post-fastest-earnings-growth-in-1q\/&title=Riyad Capital says listed software, services, and healthcare companies will post fastest earnings growth in 1Q\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> 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             <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1268.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85299\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/riyad-capital-says-listed-software-services-and-healthcare-companies-will-post-fastest-earnings-growth-in-1q\/1268-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1268.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1268.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1268.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1268.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85298\" class=\"content-area-description single-story post-85298 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-banking tag-cement tag-earnings-watch tag-enterpriseam-ksa tag-healthcare tag-manufacturing tag-petrochemicals tag-technology tag-telecoms 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\/.f83486b0-47fe-4d68-b4fb-876f70e4dfff.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asset manager Riyad Capital published its 1Q 2024 earnings <\/strong><strong>forecast<\/strong><strong> for Tadawul-listed <\/strong><strong>companies in its coverage universe. <\/strong>The software and services sector leads the list of companies it expects to post the sharpest earnings growth in the first quarter of 2024 (+17% y-o-y), followed by the healthcare sector at 13%, and banking at 8%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- The petrochemicals leads those facing margin pressure<\/strong>, with earnings set to contract at seven of the eight companies Riyad covers. Cement sector earnings will fall 23% and telecoms 10% year-on-year in 1Q, the bank preducts. <\/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\">BULLISH CALLS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>research house<\/strong><strong> expects tech earnings to grow 8% y-o-y in 2024<\/strong>, led by Solutions by stc\u2019s 10% y-o-y rise in net income to SAR 333 mn. It\u2019s penciling in a 15% rise in Solutions\u2019 revenues to SAR 3 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The healthcare sector is expected to post healthy results<\/strong>, despite Ramadan falling in March this year around and placing pressure on results, the report reads. Riyad sees healthcare companies in its coverage universe growing their inpatient and outpatient segments as they take advantage of new capacity. HMG\u2019s net income is expected to rise 9% y-o-y in 1Q 2024 to SAR 535 mn, and revenues to increase 10% to SAR 2.5 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alinma\u2019s net income is expected to rise 46% y-o-y to SAR 1.4 bn in 1Q 2024<\/strong>, followed by Albilad at 6%, ANB and Al Rajhi at 4% each, and Banque Saudi Fransi (BSF), and Saudi Awwal Bank (SAB) at 3% each, the report reads.<\/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\">BEARISH CALLS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Petrochems:<\/strong> Aramco\u2019s price hikes of feedstocks, along with the rise in shipping prices due to tensions in the Red Sea are expected to weigh on the 1Q earnings results of the petrochemicals sector. \u201cPetrochemical companies in The Kingdom will have to weather continued soft demand and potentially begin right-sizing,\u201d according to the report. Riyad Capital is maintaining its \u201cuncertain-to-negative outlook in the short term for 1H24.\u201d Tasnee is expected to be in the red this quarter with its net income falling 217% y-o-y, and Saudi Kayan is expected to remain in the red with a net loss of SAR 919 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER: <\/strong>Petrochemicals giant Sabic said, <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\">earlier this year<\/a>, it expects feedstock prices to surge by 1.7% of the company\u2019s annual cost of sales on the back of Aramco\u2019s hike in feedstock prices, with the impact materializing in the current quarter. Also Fertilizers maker Sabic Agri-Nutrients forecasted a 3.8% increase of the company\u2019s annual cost of sales, while Yanbu National Petrochemical Co (Yansab) expected an increase averaging 2.8% of the company's annual cost of sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyad is also bearish on the performance of the cement, and telecoms sectors. <\/strong>By contrast, Al Jazira Capital expects cement producers under its active coverage to see their net income rise almost <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d6dbdaa6-0335-4a58-9c92-af291a8114b5\/banks-will-lead-uptick-in-corporate-earnings-in-1q-2024-%25e2%2580%2593al-jazira-capital\" style=\"\" rel=\"noopener\">33% y-o-y in 1Q 2024<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/banking\/\">BANKING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cement\/\">cement<\/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\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/petrochemicals\/\">petrochemicals<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/telecoms\/\">telecoms<\/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=\"85300\" 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=\"85300\">\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\">DESALINATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/acwa-power-dewa-reach-financial-close-for-uae-desalination-plant\/\">\r\n                            Acwa Power, Dewa reach financial close of solar-powered Hassyan desalination project                        <\/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\/18\/acwa-power-dewa-reach-financial-close-for-uae-desalination-plant\/\" 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\/18\/acwa-power-dewa-reach-financial-close-for-uae-desalination-plant\/')\">\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\/18\/acwa-power-dewa-reach-financial-close-for-uae-desalination-plant\/\">\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=Acwa Power, Dewa reach financial close for UAE desalination plant&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/acwa-power-dewa-reach-financial-close-for-uae-desalination-plant\/\">\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\/18\/acwa-power-dewa-reach-financial-close-for-uae-desalination-plant\/&title=Acwa Power, Dewa reach financial close for UAE desalination plant\">\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=Acwa+Power%2C+Dewa+reach+financial+close+for+UAE+desalination+plant+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F18%2Facwa-power-dewa-reach-financial-close-for-uae-desalination-plant%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\/18\/acwa-power-dewa-reach-financial-close-for-uae-desalination-plant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1251.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85301\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/acwa-power-dewa-reach-financial-close-for-uae-desalination-plant\/1251-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1251.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1251.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1251.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1251.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85300\" class=\"content-area-description single-story post-85300 post type-post status-publish format-standard has-post-thumbnail hentry category-desalination tag-acwa-power tag-desalination tag-enterpriseam-ksa tag-reverse-osmosis 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\/.c9ebaab5-b44b-4d37-86a8-0f15c0a79820.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Renewable energy giant Acwa Power reached financial close with Dubai <\/strong><strong>state utility Dewa <\/strong>on its solar-powered Hassyan water desalination project in Dubai, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1219.pdf\" style=\"\" rel=\"noopener\">statement from Dewa (pdf)<\/a> yesterday. The news <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/93d12163-4a43-406c-87e9-74f3e4fcf28c\/acwa-power-locks-in-sar-2.8-bn-worth-of-financing-for-uae-desalination-planet\" style=\"\" rel=\"noopener\">comes weeks<\/a>&nbsp;after Acwa Power secured SAR 2.77 bn (USD 738.4 mn) from local and international lenders to fund the development and construction of the AED 3.4 bn (USD 925.8 mn) Hassyan project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The largest of its kind: <\/strong>The plant, which is set to produce 180 mn imperial gallons per day, is the \u201cworld's largest project of its kind using reverse osmosis technology\u201d on what the industry calls an independent water producer (or \u201cIWP\u201d) model, according to the statement. Acwa Power holds a 20.4% stake in the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- Dewa <\/strong><strong>signed a 30-year water <\/strong><strong>purchase agreement<\/strong><strong> with Acwa Power<\/strong> to buy water from phase one of the plant. Dewa will purchase the desalinated water at a price of around USD 0.365 per cbm \u2014 the lowest bid the Dubai state facility received.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- An IWP is just an industry-specific type of public-private partnership<\/strong> that sees a private-sector partner ink a long-term (20-30 year) agreement to design, build, finance, and operate a water plant for a government. The state, in turn, will derisk the project with an offtake agreement (called a \u201cwater purchase agreement,\u201d or WPA, as we note above) that generally provides a floor for pricing and clarity to would-be bankers about the project\u2019s financials. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/acwa-power\/\">ACWA power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/desalination\/\">Desalination<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/reverse-osmosis\/\">reverse osmosis<\/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=\"85302\" 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=\"85302\">\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\">DECARBONIZATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/sabic-opens-worlds-first-demo-plant-for-electrically-heated-steam-cracking-furnace\/\">\r\n                            Sabic opens world\u2019s first pilot plant for steam cracker furnaces powered by renewable energy                        <\/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\/18\/sabic-opens-worlds-first-demo-plant-for-electrically-heated-steam-cracking-furnace\/\" 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\/18\/sabic-opens-worlds-first-demo-plant-for-electrically-heated-steam-cracking-furnace\/')\">\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\/18\/sabic-opens-worlds-first-demo-plant-for-electrically-heated-steam-cracking-furnace\/\">\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=Sabic opens world\u2019s first demo plant for electrically-heated steam cracking furnace&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/sabic-opens-worlds-first-demo-plant-for-electrically-heated-steam-cracking-furnace\/\">\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\/18\/sabic-opens-worlds-first-demo-plant-for-electrically-heated-steam-cracking-furnace\/&title=Sabic opens world\u2019s first demo plant for electrically-heated steam cracking furnace\">\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=Sabic+opens+world%E2%80%99s+first+demo+plant+for+electrically-heated+steam+cracking+furnace+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F18%2Fsabic-opens-worlds-first-demo-plant-for-electrically-heated-steam-cracking-furnace%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\/18\/sabic-opens-worlds-first-demo-plant-for-electrically-heated-steam-cracking-furnace\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1266.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85303\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/sabic-opens-worlds-first-demo-plant-for-electrically-heated-steam-cracking-furnace\/1266-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1266.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1266.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1266.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1266.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85302\" class=\"content-area-description single-story post-85302 post type-post status-publish format-standard has-post-thumbnail hentry category-decarbonization tag-enterpriseam-ksa tag-petrochemicals tag-sabic 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\/.00edf971-b372-4a1f-b0e3-20edcc56024b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Sabic takes steps to build renewables into the petchem industry:&nbsp;<\/strong>Petrochemicals giant Sabic has inaugurated the world\u2019s first demo plant incorporating steam cracker furnaces powered by renewable energy, it said in a <a target=\"_blank\" href=\"https:\/\/www.sabic.com\/en\/news\/43001-basf-sabic-and-linde-celebrate-the-start-up-of-the-worlds-first-large-scale-electrically-heated-steam-cracking-furnace\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The plant was built with technology from German chemical company BASF and US-German industrial gases giant Linde.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong> The demonstration plant sees electricity used as a heat source for the production of olefin \u2014 a key hydrocarbon used to make plastics and synthetic fiber \u2014 at BASF\u2019s Verbund site in Ludwigshafen. The technology could potentially cut emissions from the energy-intensive production process by at least 90%, according to Sabic. The plant has two separate furnaces fired by 6 MW of energy generated from renewable sources and can process around 4 tons of hydrocarbon per hour. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Steam cracker furnaces for dummies:&nbsp;<\/strong>In the chemicals industry, steam cracker furnaces are used to break longer hydrocarbons into shorter chains used to manufacture chemical and polymer products including plastic, rubber and detergents as well as raw materials used in the clothing and packaging industries. It\u2019s a crazily energy-intensive process, relying on natural gas to achieve temperatures of around 850\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> Linde will look to commercialize the technologies in the future under new trademark Starbridge, hoping to sell into the petchem industry\u2019s drive to reduce its carbon footprint.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Sabic is on a decarbonization spree: <\/strong>Sabic signed a memorandum of understanding <a target=\"_blank\" href=\"https:\/\/www.sabic.com\/en\/news\/42572-sabic-sd-linde-enter-strategic-collaboration\" style=\"\" rel=\"noopener\">in December<\/a> that will see it and its affiliate Scientific Design (SD) work with Linde Engineering to explore how to decarbonize SD\u2019s ethylene glycol process, which is used under license at glycol manufacturing plants around the world. Its efforts come under a <a target=\"_blank\" href=\"https:\/\/www.sabic.com\/en\/reports\/sustainability-2022\/energy-efficiency\/our-approach\" style=\"\" rel=\"noopener\">pledge in 2021<\/a> to achieve carbon neutrality by 2050. It has set an interim target of lowering greenhouse gas emissions (Scope 1 and 2) by 20% by 2030.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/petrochemicals\/\">petrochemicals<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85304\" 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=\"85304\">\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\">AVIATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/2023-was-a-record-year-for-the-saudi-aviation-industry\/\">\r\n                            Passenger numbers across Saudi airports hit record 112 mn last year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/2023-was-a-record-year-for-the-saudi-aviation-industry\/\" 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\/18\/2023-was-a-record-year-for-the-saudi-aviation-industry\/')\">\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\/18\/2023-was-a-record-year-for-the-saudi-aviation-industry\/\">\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=2023 was a record year for the Saudi aviation industry&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/2023-was-a-record-year-for-the-saudi-aviation-industry\/\">\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\/18\/2023-was-a-record-year-for-the-saudi-aviation-industry\/&title=2023 was a record year for the Saudi aviation industry\">\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=2023+was+a+record+year+for+the+Saudi+aviation+industry+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F18%2F2023-was-a-record-year-for-the-saudi-aviation-industry%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\/18\/2023-was-a-record-year-for-the-saudi-aviation-industry\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2058.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85305\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/2023-was-a-record-year-for-the-saudi-aviation-industry\/2058-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2058.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2058.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2058.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2058.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85304\" class=\"content-area-description single-story post-85304 post type-post status-publish format-standard has-post-thumbnail hentry category-aviation tag-aviation tag-enterpriseam-ksa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.8b10d51c-520b-4d98-b8b4-6f75c604bc8c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi\u2019s <\/strong><strong>aviation sector saw a 26% y-o-y jump in passenger numbers to a <\/strong><strong>record 112 mn <\/strong><strong>in 2023<\/strong>, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1221.pdf\" style=\"\" rel=\"noopener\">General Authority of Civil Aviation\u2019s (GACA) annual report (pdf)<\/a>. The total number of flights grew 16% y-o-y to 815k, the report showed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Deep dive:<\/strong> Some 421k domestic flights \u2014 both scheduled and non-scheduled \u2014 transported 51mn travelers domestically, while international flights hit 394k with 61 mn passengers, according to the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That beats pre-pandemic levels: <\/strong>GACA said Saudi\u2019s airports operated 9% more flights last year than they did in 2019, when covid-19 set in. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jeddah leads the pack: <\/strong>Jeddah\u2019s King Abdulaziz International Airport topped Saudi airports in the number of flights and passengers volumes in 2023, beating Riyadh\u2019s King Khalid International Airport\u2019s lead in 2022. Jeddah saw 262 flights carrying 43 mn passengers last year, while Riyadh served 239k flights with 31.9 mn passengers on board.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Jeddah\u2019s airport outperformed peers among all airports serving 15 mn or more passengers per year, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a29e8e73-a83e-416a-92a2-ae36f27a50f7\/jed-outperforms-peers-in-december-gaca-report\" style=\"\" rel=\"noopener\">data by GACA<\/a> in January showed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Three busiest months:<\/strong> GACA said that March, July and December were the busiest at airports last year. Peaks in the summer were driven by tourists and pilgrims for Hajj, accounting for 53% of total international arrivals.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aviation\/\">AVIATION<\/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=\"85306\" 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=\"85306\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/saudi-cable-names-new-ceo\/\">\r\n                            Saudi Cable appoints Fawaz Al Muqbel as new CEO                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/saudi-cable-names-new-ceo\/\" target=\"_blank\">\n                    Open in new tab                  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data-image-title=\"1254.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1254.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1254.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85306\" class=\"content-area-description single-story post-85306 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-ksa tag-fawaz-mubarak-al-muqbel tag-moves tag-nael-samir-fayez tag-saudi-cable 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\/.fe80b240-aa82-43d5-a251-2e893fa9d386.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 Saudi Cable appointed Fawaz Mubarak Al Muqbel (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/manhom.com\/%D8%B4%D8%AE%D8%B5%D9%8A%D8%A7%D8%AA\/%D9%81%D9%88%D8%A7%D8%B2-%D9%85%D8%A8%D8%A7%D8%B1%D9%83-%D8%A2%D9%84-%D9%85%D9%82%D8%A8%D9%84\/\" style=\"\" rel=\"noopener\">bio<\/a><\/strong><strong>) as its <\/strong><strong>new CEO<\/strong>, effective yesterday, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzIxMTAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5NDAy\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Mubarak is replacing Nael Samir Fayez (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/fnael\/\" style=\"\" rel=\"noopener\">Linkedin<\/a>), who was appointed advisor to the board. Al Muqbel holds over 34 years of experience, with top leadership positions in the Middle East Cable Company (Misk), the National Industrial Company, and the Steel Products Company (Stepco).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fawaz-mubarak-al-muqbel\/\">Fawaz Mubarak Al Muqbel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nael-samir-fayez\/\">Nael Samir Fayez<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/cenomis-rehill-makes-forbes-real-estate-list-saudi-asset-managers-dominate-ranking\/\">\r\n                            Cenomi\u2019s Rehill makes Forbes real estate list + Saudi asset managers dominate ranking                        <\/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\/18\/cenomis-rehill-makes-forbes-real-estate-list-saudi-asset-managers-dominate-ranking\/\" target=\"_blank\">\n                    Open in new tab                    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           <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1236.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85310\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/cenomis-rehill-makes-forbes-real-estate-list-saudi-asset-managers-dominate-ranking\/1236-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1236.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1236.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1236.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1236.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85309\" class=\"content-area-description single-story post-85309 post type-post status-publish format-standard has-post-thumbnail hentry category-thursday-kudos tag-cenomi-centers tag-enterpriseam-ksa tag-forbes-middle-east tag-newsmakers tag-thursday-kudos 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\/.373d2914-2645-4ed1-aa19-51cb0c5e49b7.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Cenomi Centers CEO <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/alisonrehillerguven\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Alison Rehill<\/a><\/strong> was named among Forbes Middle East\u2019s <a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/most-impactful-real-estate-leaders-2024\/alison-rehill-erguven\/\" style=\"\" rel=\"noopener\">Most Impactful Real Estate Leaders<\/a> in 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Some <\/strong><strong>14 Saudi asset managers were recognized <\/strong>in the magazine\u2019s list of <a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-30-asset-managers-2024\/\" style=\"\" rel=\"noopener\">Top 30<\/a><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-30-asset-managers-2024\/\" style=\"\" rel=\"noopener\">Asset<\/a><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-30-asset-managers-2024\/\" style=\"\" rel=\"noopener\">Managers<\/a> for 2024, the best placing by any country on the list. Among those recognized:<\/p>\n<ul>\n<li>#1- <a target=\"_blank\" href=\"https:\/\/www.alahlicapital.com\/Pages\/executive_team1.aspx?lang=en\" style=\"\" rel=\"noopener\">Rashed Sharif<\/a>, CEO of SNB Capital;<\/li>\n<li>#3- <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mazin-baghdadi-74022842\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Mazin Fawaz Boghdady<\/a>, CEO of Alinma Investment;<\/li>\n<li>#4- <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/alshwer\/\" style=\"\" rel=\"noopener\">Abdullah Abulrahman Alshwer<\/a>, CEO of Riyadh Capital;<\/li>\n<li>#6- <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/waleed-alrashed-alhumaid-18b598133\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Waleed AlRashed AlHumain<\/a>, CEO of Al Rajhi Capital;<\/li>\n<li>#8- <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/tariq-al-sudairy-335233\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Tariq Al-Sudairy<\/a>, managing director and CEO of Jadwa Investment;<\/li>\n<li>#11- <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/khaledalrayes\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Khaled Abdulaziz Alrayes<\/a>, CEO of Alithmar Capital; <\/li>\n<li>#12- <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ali-almansour-cfa-43639b5\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Ali Almansour<\/a>, managing director and CEO of SAB Invest;<\/li>\n<li>#14- <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/salam-al-khunaizi-99a3162\/\" style=\"\" rel=\"noopener\">Salam AlKhunaizi<\/a>, CEO of Saudi Fransi Capital;<\/li>\n<li>#15- <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/samer-abu-aker-64225b44\/\" style=\"\" rel=\"noopener\">Samer Abu Aker<\/a>, CEO of Sedco Capital;<\/li>\n<li>#17- <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/khalid-al-ghamdi-b796691a\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Khalid S. Al-Ghamdi<\/a>, CEO of ANB Capital;<\/li>\n<li>#19- <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/naif-almesned-82788546\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Naif Almesned<\/a>, managing director and CEO of AlJazira Capital;<\/li>\n<li>#21- <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/zaid-almufarih-ab35661a\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Zaid Almufarih<\/a>, CEO of Albilad Capital;<\/li>\n<li>#23- <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/hani-baothman-5981435\/\" style=\"\" rel=\"noopener\">Hani Othman Baothman<\/a>, Chairman of Sidra Capital; <\/li>\n<li>#25- <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ahmed-ghouth-7031258\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Ahmed Saud Ghouth<\/a>, CEO of Alkhabeer Capital.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Diriyah Group <\/strong><strong>CEO<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/jerry-inzerillo\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Jerry Inzerillo<\/a><\/strong><strong> was <\/strong><strong>named first UN ambassador for sustainable <\/strong><strong>tourism in the Kingdom<\/strong>, the PIF-owned company said in <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/diriyah-company_un-tourism-ambassador-activity-7186288712844988416-aBut\/?utm_source=share&utm_medium=member_ios\" style=\"\" rel=\"noopener\">a LinkedIn post<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Madinah\u2019s Prince Mohammad bin Abdulaziz International Airport was named best <\/strong><strong>regional airport in the Middle East <\/strong>at the Skytrax World Airport Awards for 2024, a <a target=\"_blank\" href=\"https:\/\/www.worldairportawards.com\/worlds-best-regional-airports-2024\/\" style=\"\" rel=\"noopener\">rankings list by Skytrax<\/a> showed.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cenomi-centers\/\">Cenomi Centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/forbes-middle-east\/\">Forbes Middle East<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/newsmakers\/\">Newsmakers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/thursday-kudos\/\">THURSDAY KUDOS<\/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=\"85311\" 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=\"85311\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/a-mix-of-everything\/\">\r\n                            Iran-Israel tensions, AlUla and Esports drive the conversation for foreign press                        <\/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\/18\/a-mix-of-everything\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The statement came following a phone call between Crown Prince Mohammed Bin Salman and Emirati President Mohamed bin Zayed Al Nahyan, in which the two discussed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/36df35ca-d3e7-412f-8176-026b0812558a\/Spanish-gov%E2%80%99t-ups-stake-in-Telefonica-in-bid-to-counter-Stc-%E2%80%94-just-as-Housing-Minister-AL-Hogail-lands-in-town\" style=\"\" rel=\"noopener\">Iran\u2019s unprecedented attack on Israel<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/04\/16\/sport\/esports-world-cup-saudi-arabia-spt-intl\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a><\/strong><strong> sees Riyadh\u2019s Esports World Cup (EWC) as a lifeline to the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/05\/20\/technology\/e-sports-revenue-video-gaming.html\" style=\"\" rel=\"noopener\">ailing<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/05\/20\/technology\/e-sports-revenue-video-gaming.html\" style=\"\" rel=\"noopener\">industry<\/a><\/strong>, featuring the \u201clargest prize pool in esports history\u201d \u2014 a <a target=\"_blank\" href=\"https:\/\/twitter.com\/ESWCgg\/status\/1780219657003078100\" style=\"\" rel=\"noopener\">USD 60 mn<\/a> jackpot. The event \u2014 which is not funded by the Public Investment Fund \u2014 will run for eight weeks, starting late June. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Although not everyone is on the same page:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/PlayApex?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor\" style=\"\" rel=\"noopener\">Apex Legends<\/a> \u2014 one of the clubs competing in EWC \u2014 will reportedly not be altering its inclusive characters and cosmetics to fit the Kingdom\u2019s cultural norms, the game\u2019s developers have told <a target=\"_blank\" href=\"https:\/\/kotaku.com\/apex-legends-lgbtqia-characters-tournament-saudi-arabia-1851411189\" style=\"\" rel=\"noopener\">Kotaku<\/a> after the tournament faced some backlash over it being hosted in the Kingdom. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH A SKIM-<\/strong><\/p>\n<ul>\n<li><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2024-04-17\/habitas-alula-review-saudi-arabia-luxury-resort-reveals-travel-challenges\" style=\"\" rel=\"noopener\">Bloomberg<\/a><\/strong><strong> is out with a travel review and extensive critique of Habitas AlUla<\/strong>\u2019s too-good-to-be-true resort in the desert. <\/li>\n<li><a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/commentisfree\/2024\/apr\/16\/saudi-arabia-moderate-country-travel-ban-crime-womens-rights\" style=\"\" rel=\"noopener\">The Guardian<\/a> is out with yet another piece on <strong>Saudi women\u2019s rights.<\/strong><\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alula\/\">AlUla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85313\" 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=\"85313\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/tourism-ministry-talks-up-investment-at-berlins-ihif-plus-debt-energy-and-localization\/\">\r\n                            Saudi Tourism Ministry talks up investment at Berlin\u2019s IHIF. Plus: debt, energy and localization                        <\/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\/18\/tourism-ministry-talks-up-investment-at-berlins-ihif-plus-debt-energy-and-localization\/\" 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\/18\/tourism-ministry-talks-up-investment-at-berlins-ihif-plus-debt-energy-and-localization\/')\">\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\/18\/tourism-ministry-talks-up-investment-at-berlins-ihif-plus-debt-energy-and-localization\/\">\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=Tourism Ministry talks up investment at Berlin\u2019s IHIF. Plus: debt, energy and localization&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/tourism-ministry-talks-up-investment-at-berlins-ihif-plus-debt-energy-and-localization\/\">\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\/18\/tourism-ministry-talks-up-investment-at-berlins-ihif-plus-debt-energy-and-localization\/&title=Tourism Ministry talks up investment at Berlin\u2019s IHIF. Plus: debt, energy and localization\">\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=Tourism+Ministry+talks+up+investment+at+Berlin%E2%80%99s+IHIF.+Plus%3A+debt%2C+energy+and+localization+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F18%2Ftourism-ministry-talks-up-investment-at-berlins-ihif-plus-debt-energy-and-localization%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\/18\/tourism-ministry-talks-up-investment-at-berlins-ihif-plus-debt-energy-and-localization\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1256.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85314\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/18\/tourism-ministry-talks-up-investment-at-berlins-ihif-plus-debt-energy-and-localization\/1256-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1256.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1256.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1256.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1256.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85313\" class=\"content-area-description single-story post-85313 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-alinma-bank tag-also-on-our-radar tag-enterpriseam-ksa tag-national-building-and-marketing tag-saudi-fund-of-development-sfd tag-sedco-capital-multi-asset-traded-fund tag-st-kitts-and-nevis tag-tourism-investment-enablers-program tag-tourism-ministry tag-zain 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\/.a7c229a1-752a-41ef-bb47-5cc30365d4e1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TOURISM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Tourism Ministry highlighted potential investments in Saudi\u2019s tourism sector <\/strong>with several unnamed global investors at the International Hospitality Investment Forum (IHIF) in Berlin, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2085464\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. They highlighted a new tourism investment program <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a35151a1-033e-49d7-85a5-bbe29bf3da9b\/it%25e2%2580%2599s-day-2-at-leap-2024,-deepfest-and-efg-hermes-one-on-one\" style=\"\" rel=\"noopener\">unveiled last month<\/a> to facilitate doing business and attracting local and foreign investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The Tourism Investment Enablers Program (TIEP) includes regulatory reforms for tourism licensing depending on type and scale of operations and reduced fees. It aims to lure in investments of up to SAR 42 bn (c. USD 11 bn) with inflows of SAR 16 bn to GDP by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4d43f6ce-8ecc-41b8-8135-0da085f9952c\" style=\"\" rel=\"noopener\">recently doubled<\/a> its target for 2030, hoping now to be host to 150 mn tourist trips after it hit its target last year ahead of schedule. The new 2030 target sees 80 mn by domestic travelers and 70 mn by international travelers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nomu-listed <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nbm.com.sa\/en\" style=\"\" rel=\"noopener\">National Building and Marketing<\/a><\/strong><strong> has renewed a nine-month SAR 85 <\/strong><strong>mn <\/strong><strong>shariah-compliant credit facility with Alinma Bank<\/strong> to finance its working capital, 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\/jZHNboJAFIWfhq1zgTJAdyMiYgSkQAU2BioiKT8GUWKfvqMmTUExzm4y35l7zrkoRD4Ky-iUpVGTVWWU03sQ4rVAMHAzCSyYuQpgcDTsuRI70Xm06gLalFPBnspje6JqLGgiCv8_W0QW6fN8rOkLwqv2W18PzlKgwNLgF_ABGuCufmg-DBwCr-n_AMnQMNgmsS1OFED7fEEfdpEHDfT-uI94BZ5leOqCw32gW7OE7zzcx5yjMM2r-LbyXdPs3xlgoIk2UXvMGWrhqyr2UXl2zkVcUUgWWBhCo7JUogb57DCgb5AvyryMLwgpY15KUVgn26RO6tGxpgMuusNV2LbtKK2qNE9G1AQDjyS76kAHdkkU0N2Kg7XZGK1OWdIir6zqggZ3Li0R07Q8U1EN1XTXpmeM1Q8U3JyG_RKCawkurfbpFCcp0b7wPM-HTM-WxUpqhPjM56dCiX-23-QXold76Q!!\/dz\/d5\/L0lHSkovd0RNQUxrQUVnQSEhLzROVkUvYXI!\/\" style=\"\" rel=\"noopener\">a regulatory filing to Tadawul<\/a>. The Riyadh-based group manufactures and installs construction materials including glass, aluminum and iron. <\/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\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Caribbean island St. Kitts and Nevis secured USD 40 mn soft loan from the Saudi Fund <\/strong><strong>for Development on the sidelines of IMF \/ World Bank spring meetings<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2085013\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reports. The funds are earmarked for the construction of a 18 MW dual-fuel power generation station.<\/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\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GameChange Solar + JZNEE to build 3 GW component production facility in Saudi<\/strong><strong>: <\/strong>US-based solar tracker manufacturer GameChange Solar (GCS) and Chinese renewables firm Jiangsu Zhenjiang New Energy Equipment (JZNEE) will partner on building a 3 GW capacity tracker manufacturing facility in Dammam, with hopes to expand to 5 GW, according to a <a target=\"_blank\" href=\"https:\/\/gamechangesolar.com\/news\/gamechange-solar-announces-strategic-partnership-with-jiangsu-zhenjiang-new-energy-equipment\" style=\"\" rel=\"noopener\">statement<\/a>. The components produced \u2014 including actuators, node controllers, and drive systems \u2014 will be used for GCS\u2019s Genius Tracker projects, the statement said, without naming any specific projects. The facility is expected to be operational by June.<\/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\">LOCALIZATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul-listed telecoms operator Zain has unveiled a new fleet management <\/strong><strong>system <\/strong><strong>that\u2019s 100% locally produced<\/strong>, the company said in <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/zain-ksa-unveils-100-saudi-made-fleet-management-system-xr6jaxgg\" style=\"\" rel=\"noopener\">a press release<\/a>. The new service offers businesses a real-time GPS tracking option on their logistics operations, allowing them to optimize travel routes and curb fuel consumption. The monitoring solution is connected to a local cloud-based platform.<\/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\">FINANCIAL SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi Economic and Development Securities Co. has been cleared to offer its <\/strong><strong>SEDCO Capital Multi Asset Traded <\/strong><strong>Fund <\/strong><strong>units on Tadawul<\/strong> as a close-ended traded fund, a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/NEWS\/Pages\/CMA_N_3534.aspx\" style=\"\" rel=\"noopener\">statement from the Capital Market Authority (CMA)<\/a> read. The fund, which has a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/Market\/imf\/Documents\/0554-1-12-011.pdf\" style=\"\" rel=\"noopener\">capital of SAR 1 bn<\/a>, invests in real estate.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alinma-bank\/\">Alinma Bank<\/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\/national-building-and-marketing\/\">National Building and Marketing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-fund-of-development-sfd\/\">Saudi Fund of Development (SFD)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sedco-capital-multi-asset-traded-fund\/\">SEDCO Capital Multi Asset Traded Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/st-kitts-and-nevis\/\">St. Kitts and Nevis<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tourism-investment-enablers-program\/\">Tourism Investment Enablers Program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tourism-ministry\/\">Tourism Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/zain\/\">Zain<\/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=\"85315\" 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=\"85315\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/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\/18\/deficits-in-the-us-china-could-hurt-global-economy\/\">\r\n                            Deficits in the US, China could hurt global economy                        <\/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\/18\/deficits-in-the-us-china-could-hurt-global-economy\/\" 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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Rampant spending from the world\u2019s two largest economies could \u201chave profound effects for the global economy and pose significant risks for baseline fiscal projections in other economies,\u201d the Fund said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How bad is it?<\/strong> The US will record a fiscal deficit of 7.1% in 2025, over three times the 2%average clocked in by other advanced economies, while China will record a deficit over twice the average of other EMs with 7.6%, the IMF said. The shortfall comes as both countries look set to face challenges ahead, with China dealing with weak domestic demand and a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6aebd11-0b16-4f0a-809e-e588163a8434\/hong-kong-court-calls-for-the-liquidation-of-evergrande\" style=\"\" rel=\"noopener\">real estate crisis<\/a> and the US entering a key year for fiscal policy in an election year that will see candidates pledging further tax cuts and increased state spending.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When the US spends, EMs pay:<\/strong> \u201cLarge and sudden increases\u201d in US borrowing costs willlikely send global government bond yields soaring and exchange rates into murky waters in emerging markets and developing economies, the IMF said. \u201cA 1 percentage point spike in US rates results in a 90 basis point rise in other advanced economies and an increase in EMs of 1 percentage point,\u201d the salmon-coloured paper writes.<\/p>\n<p class=\"tag-border-left\">THE MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are little changed in early trading this morning <\/strong>after Wall Street posted on Wednesday its first four-day string of losing days since the start of the year. The Kospi is the sole standout, up a bit more than 1.4% at dispatch time this morning. European and US equities futures were mostly unchanged overnight. <\/p>\n<p><a target=\"_blank\" id=\"t.e47d8b1787fd41f14f15303776a57c1ace88f67d\" 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\">12,466<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +4.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,569<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +1.2%)<\/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\">26,402<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +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 Buy<\/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<\/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\">29,668<\/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: +19.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,165<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: -4.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,173<\/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: +2.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,022<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: 5.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,848<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: 1.6%)<\/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\">4,914<\/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: 8.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 89.40<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 1.72<\/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-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,380<\/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-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 61,397<\/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\">-3.9% (YTD: +112.9%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI <\/strong>fell 0.3% <strong>yesterday <\/strong>on turnover of SAR 9.6 bn. The index is up 4.2% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Sharqiyah Dev (+10%), Batic (+9.3%) and SGS (+9.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Cenomi Retail (-5.2%), Astra Industrial (-3.7%) and Etihad Etisalat (-3.4%).<\/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 0.4% <strong>yesterday <\/strong>on turnover of SAR 30 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> Future Care (+10.7%), Ladun (+10%) and Mayar (+7.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> AlQemam (-9.7%), SPC (-6.1%) and Clean Life (-5.7%)<\/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>Shareholders of Edarat Communication and IT have approved doubling the company\u2019s <\/strong><strong>capital to SAR 25.2 mn<\/strong> through a bonus issuance, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5n8jkb6c\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The capital hike will be made to support the cloud service provider\u2019s capital base and future activities, it said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fiscal-policy\/\">fiscal policy<\/a>\n                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            <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85317\" class=\"content-area-description single-story post-85317 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;\">21-27 April (Sunday-Saturday): Innovation Week 2024 at KACST, 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;\">27-30 April (Saturday-Wednesday): IsDB Group Annual Meetings, 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\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>Latest on IPO of Tasheel operator UIHC | Riyad Capital\u2019s 1Q earnings preview | Acwa hits financial close on Dewa facility | 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