{"id":85437,"date":"2024-04-23T00:00:00","date_gmt":"2024-04-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=85437"},"modified":"2025-12-14T17:55:10","modified_gmt":"2025-12-14T17:55:10","slug":"pif-wants-to-build-the-regions-biggest-telecom-infrastructure-play","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/pif-wants-to-build-the-regions-biggest-telecom-infrastructure-play\/","title":{"rendered":"PIF wants to build the region\u2019s biggest telecom infrastructure play"},"content":{"rendered":"<section id=\"85439\" 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=\"85439\">\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\/23\/hundreds-of-bankers-flying-in-to-neom-this-week-for-show-and-tell\/\">\r\n                            THIS MORNING: \u201cHundreds\u201d of bankers flying in to Neom this week for show-and-tell                        <\/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\/23\/hundreds-of-bankers-flying-in-to-neom-this-week-for-show-and-tell\/\" 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\u2019ve got a packed issue this morning<\/strong> with everything from the PIF cooking up the next big thing in the region\u2019s telecoms industry, to Aramco\u2019s appetite for China, more investments in Egyptian companies, Acwa Power cementing its reach in Azerbaijan, and IPO news in both the news well and Planet Finance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UP FIRST- The Public Investment Fund has acquired a controlling stake in <\/strong><strong>stc-owned Telecoms <\/strong><strong>Towers Company<\/strong>, better known as Tawal, in an agreement that will see PIF consolidate its telecoms assets under what\u2019s being positioned as the region\u2019s largest telecom infrastructure company with capital of SAR 1.2 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have more on the story at the head of this morning\u2019s news well, below, along with an a look back at what PIF got up to in 1Q.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TODAY- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.unep.org\/inc-plastic-pollution\/session-4\" style=\"\" rel=\"noopener\">Global talks<\/a><\/strong><strong> on eliminating plastic waste get underway this morning <\/strong><strong>in Ottawa<\/strong>, Canada. Negotiators hope to move closer to an agreement by year\u2019s end on what would be the first-ever global pact setting limits on plastic pollution and setting out goals to reduce it. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some 3.5k people are set to attend<\/strong>, including diplomats, business leaders, and lobbyists, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/climate-energy\/what-do-countries-companies-want-global-plastic-treaty-talks-2024-04-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> adds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia, Iran and China are being called the Like-Minded Countries<\/strong>, which have so far opposed language on production caps, scheduled reduction target, or requirements to disclose the chemicals used in production, the newswire writes.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- \u201cHundreds\u201d of bankers will fly to Neom this week as the USD 500 <\/strong><strong>b<\/strong><strong>n <\/strong><strong>development seeks new funding options and looks to drum up business<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-22\/neom-hosts-show-and-tell-for-bankers-as-it-scours-for-more-cash?srnd=homepage-europe\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported yesterday, citing sources it says are in the know. They said Neom\u2019s CEO Nadhmi Al Nasr plans to show visiting bankers progress on the city\u2019s flagship project The Line. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the agenda: <\/strong>Bankers will see actual work being done in the futuristic city instead of virtual reality videos showcased by Neom during previous roadshows in the US and UK. Neom just came off the road in China \u2014 officials have been particularly interested in driving interest from Hong Kong, Beijing, and Shanghai.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> Bloomberg reported recently that the buildout of The Line was moving <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/083185a1-da33-46d9-809b-4562199b25b6\/\" style=\"\" rel=\"noopener\">slower<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/083185a1-da33-46d9-809b-4562199b25b6\/\" style=\"\" rel=\"noopener\">than planned<\/a>. Officials at Neom replied quickly, bringing in top execs from some 100 global construction firms last week to assure them <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d415e8f0-fa26-473b-acf6-0a2208bd6637\/\" style=\"\" rel=\"noopener\">the buildout is proceeding on schedule<\/a> \u2014 and that more business is in the pipeline. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Neom is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/11d20e6c-678e-468e-879b-82edc958350b\" style=\"\" rel=\"noopener\">looking to diversify<\/a><\/strong><strong> its funding sources away from the PIF<\/strong>, which has poured most of the funding into the project in the form of equity. Its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/11d20e6c-678e-468e-879b-82edc958350b\" style=\"\" rel=\"noopener\">plans include<\/a> a SAR-denominated bond sale in what could be the giga-project\u2019s first-ever sukuk sale.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- First-time Saudi and GCC visa applicants will be allowed to stay longer in the <\/strong><strong>Shengen zone: <\/strong>The European Commission will roll out relaxed rules for Schengen visas for Saudis and several other GCC countries, <a target=\"_blank\" href=\"https:\/\/www.okaz.com.sa\/news\/local\/2160045\" style=\"\" rel=\"noopener\">Okaz<\/a> reported yesterday. they include five-year multiple-entry visas for applicants from Saudi, Bahrain and Oman, with the longer visa validity also offered to first-time applicants, according to <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2497346\/saudi-arabia\" style=\"\" rel=\"noopener\">Arab News<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is not entirely what GCC officials wanted <\/strong>\u2014 they <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2076ef60-066c-4602-9e47-958abb155dcf\" style=\"\" rel=\"noopener\">have been looking<\/a> to strike an agreement with the EU that would see Gulf citizens exempted from Schengen visas entirely. GCC Secretary General Jasem Al Budaiwi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/399e70a3-e2fe-4f5f-8a42-286b5b4ce2db\" style=\"\" rel=\"noopener\">said that talks<\/a> with the EU on the Schengen visa waiver scheme \u201crequires a series of long procedures on the European side.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also in Luxembourg yesterday: <\/strong>GCC and EU officials talked about boosting strategic and security cooperation, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2087951\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>. Foreign Minister Prince Faisal bin Farhan also met with several of his European counterparts on the sidelines of the forum (<a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2087817\" style=\"\" rel=\"noopener\">here<\/a>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2087820\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2087830\" style=\"\" rel=\"noopener\">here<\/a>)<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#3- <\/strong><strong>Tomorrow <\/strong><strong>is the bid deadline for hosting the tenth Masters 1000 event on the <\/strong><strong>ATP Tour.&nbsp;<\/strong>Saudi, Dubai, Doha, Abu Dhabi, and Australia were invited to bid, <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/sport\/tennis\/articles\/c4n1kjgze1ko\" style=\"\" rel=\"noopener\">BBC<\/a> reports. That will be followed by a two-day meeting of the ATP Board, which can either select the host or run a final round of bidding. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If we\u2019re successful, the first Masters 1000 here will be in 2027<\/strong>, and we\u2019ll be waiting until 2H 2025 for specific dates. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#4- The first batch of Iranian umrah pilgrims in nine years traveled to Saudi <\/strong><strong>yesterday<\/strong>, Iran\u2019s state-owned media agency <a target=\"_blank\" href=\"https:\/\/en.irna.ir\/photo\/85453014\/First-group-of-Iran-s-umrah-pilgrims-depart-for-Saudi-Arabia\" style=\"\" rel=\"noopener\">IRNA<\/a> reported yesterday. Some 85 Iranians traveled to Madinah yesterday to mark the resumption of flights between the two countries as ties improve. It comes months after flights between Saudi and Iran <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ef97e0ed-eb0f-450f-a0c8-c26ae025a465\/\" style=\"\" rel=\"noopener\">were delayed in December<\/a> on the back of what Tehran officials said were technical issues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters:<\/strong> It\u2019s a significant sign that relations are improving. Iranians were previously only allowed to perform hajj, but officials said they would permit umrah visits after Riyadh and Tehran reestablished ties in March 2024. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#5- <\/strong><strong>China Eastern Airlines will fly into Riyadh starting next Saturday<\/strong>, the General Authority of Civil Aviation (GACA) said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/ksagaca\/status\/1782465207475806657\" style=\"\" rel=\"noopener\">post on X<\/a> yesterday. The Chinese carrier will run three weekly flights between Shanghai Pudong Airport and Riyadh\u2019s King Khalid International Airport, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/67552659-9ba7-4ad6-9245-8f0eae1efab1\/\" style=\"\" rel=\"noopener\">we noted last month<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Budget carrier <\/strong><strong>Flynas will resume in late June service between Riyadh and Al <\/strong><strong>Jouf<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2087766\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- Local fintech<\/strong><strong> Thuluthain<\/strong><strong> has gotten Capital Market Authority permission to test <\/strong><strong>robo-advisory <\/strong>as part of its product offering, the <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3536.aspx\" style=\"\" rel=\"noopener\">CMA said in a statement<\/a> yesterday. No further details were provided.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#7- Fee collection for environmental permits is now expected to take not more than a few <\/strong><strong>seconds, down from a 10 day-long wait <\/strong>through the deployment of Virtual Robotic Process Automation (RPA), <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2087498\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. The automated system helps process 8-10k requests daily, helping eliminate human error.<\/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=\"wwtt5\"><\/a> <strong>Seven more days for businesses on the hook for VAT to submit their tax returns:&nbsp;<\/strong>VAT-liable businesses with annual revenues exceeding SAR 40 mn have until Tuesday, 30 April, to submit their tax returns for March 2024, and those with revenues less than SAR 40 mn have to do the same for their 1Q 2024 tax returns, according <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/ar\/MediaCenter\/News\/Pages\/news_1230.aspx\" style=\"\" rel=\"noopener\">a statement<\/a> by the Zakat, Tax, and Customs Authority (ZATCA). <strong>Non-complying businesses will face fines ranging from 5% to 25% of the tax owed. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Expect light showers with a high of 33\u00b0C and a low of 22\u00b0C in the <strong>capital, <\/strong>according to our favorite weather app. It\u2019s more of the same in<strong> Al-Taif, <\/strong>while the<strong> AlUla <\/strong>folks will be enjoying a sunny day with clear skies all along.<\/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\"><span style=\"background-color: transparent;\"><\/span><\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a pleasantly slow morning in the international business press.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yesterday saw opening arguments in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/04\/22\/trump-hush-money-trial-gag-order-contempt-00153154\" style=\"\" rel=\"noopener\">Donald Trump\u2019s criminal hush-money trial<\/a><\/strong> \u2014 today will see prosecutors argue that The Donald is also in contempt of court for refusing to abide by a gag order against attacking prosecutors, jury members, and witnesses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not a great time to be in professional services (outside of Saudi): <\/strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/pwc-looks-to-shrinknewu-s-consulting-partner-class-by-more-than-50-150a3388?mod=business_feat2_c-suite_pos1\" style=\"\" rel=\"noopener\">PwC is looking to cut<\/a> in half (compared to last year) the number of people it makes partners in the United States. Blame slowing demand for advisory services. McKinsey, meanwhile, is at the forefront of a movement among big consulting firms to cull underperformers. A <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/8c3679c4-b34a-41d0-93c9-af96ea6f90e2\" style=\"\" rel=\"noopener\">\u201cbrutal round of career reviews\u201d<\/a> is now in process at the high-flying firm.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The noise about tech stocks is about to go to 11: <\/strong>Tesla reports its 1Q earnings today, Meta follows suit tomorrow, while Google parent Alphabet and Microsoft both release on Thursday. They\u2019re all filing financials after a rough couple of weeks for tech stocks in New York.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US colleges are having a moment <\/strong>as student protests of Israel\u2019s war against Gaza (and US backing for it) continues to grow. Egypt-born Columbia President Dame Minouche Shafik has suspended in-person classes to allow a cooling off period after she sent police to arrest over 100 protestors. Police have separately arrested over 50 protesters at Yale and Harvard is closing campus gates to non-students. Activists have organized \u201ctent cities\u201d at all three. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SIGN OF THE TIMES- The UAE\u2019s Emirates still needs <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-22\/emirates-says-needs-time-to-clear-backlog-as-clark-says-sorry\" style=\"\" rel=\"noopener\">\u201csome more days\u201d<\/a><\/strong> to clear a backlog of \u201crebooked passengers\u201d from more than 400 canceled flights and some 30k pieces of luggage left at the airport after last week\u2019s once-a-century (isA) storm. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/optimism.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/221.jpg?ssl=1\"><\/a> <\/p>\n<p class=\"tag-border-left\">OUR NEXT FORUM IN CAIRO-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign investors are falling in love with Egypt again\u2026<\/strong> Foreign investors we speak with (debt, equity, and strategic alike) have growing appetite for Egypt. They\u2019re buying into local debt, eyeing promising shares, and committing bns of USD to both new ventures here and the growth of their existing businesses. They like the Egypt story that\u2019s taking shape after the float of the EGP, and its competitive advantages are clear to many of them: <strong>It\u2019s a massive consumer opportunity and a regional export hub of tomorrow.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Enterprise Optimism Forum 2024 will do exactly what it says on the tin:<\/strong> Spark conversations about a future that sees Saudi Arabia, Egypt, and the the UAE at the heart of a more vital Middle East economy \u2014 and provide an early, actionable roadmap for those who are \u201clong Egypt.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>We\u2019ll be talking with you about the agenda over the coming couple of weeks.<\/strong>It features speakers from Egypt and abroad who are future-proofing their businesses and angling to capture tomorrow\u2019s opportunities \u2014 and who aren\u2019t afraid to answer some tough questions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/optimism.enterprise.news\/\" style=\"\" rel=\"noopener\">** Interested in attending? Tap or click here to let us know<\/a><\/strong><strong>.<\/strong> Seating is limited. <\/p>\n<hr style=\"page-break-before:always;display:none;\">\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\/climate\/\">CLIMATE<\/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\/sports\/\">sports<\/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=\"85441\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" 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target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/108985.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>The Luxury of Certainty<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85442\" 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=\"85442\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/pif-aims-to-create-regions-largest-telecom-infrastructure-company\/\">\r\n                            PIF aims to create region\u2019s largest telecom infrastructure company                        <\/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\/23\/pif-aims-to-create-regions-largest-telecom-infrastructure-company\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n        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wp-post-image\" alt=\"\" data-attachment-id=\"85443\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/pif-aims-to-create-regions-largest-telecom-infrastructure-company\/1599-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1599.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1599.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1599.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1599.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85442\" class=\"content-area-description single-story post-85442 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-ma-watch tag-stc 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\/.c5b3b12e-37ed-4857-bf9e-637ed90f204d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The <\/strong><strong>Public Investment Fund is acquiring a controlling stake in <\/strong><strong>stc-owned Telecoms <\/strong><strong>Towers Company<\/strong>, better known as Tawal, according to two separate statements, <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/press-releases\/2024\/pif-and-stc-group-sign-definitive-agreements-to-form-regions-largest-telecom-tower-company\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qCGId6BALsgxSxIpiSPHgdKvbx5IiBYqavngHc_Mzi5xyZq4CTuEPlOhSFhU1BvX2HaoAe2-CRPoL97AAMcylgtT67UNsrommCPLgNmYzibtbgesDyDuv_TgTDswe5-O9CHMwQLjMT3cOfSB_u41ZUKfu0WCwatlD6luGt2fhBsj_mjye4aK8EfIAXH9SHj1wmni6aZPXIl7lChbuSzgQKk0e2lAA47HY8sXwo-wxUXcgFuSQGSKrK-ZxMGkWlf37j5sjawkZiKXHMncR0WTROQJxxgTNQwz1WOKkRlnPMAhHjCaMh-JU87HdocwEzIrWWRTIhlyJWQvtXfn-hR7IqrfqRS7nKvFKcUaUKKwPr_TwtQJv4pKg9qISR5cuOX_OI89lD2PbNoltJcivhiwMjUvM9cibdvUqib4qZzKrObtCsUUZSjKhGm8XK4htJuud9L1mMamfn2P9OkbK6f_eg!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC83MDEwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5NDk1\/\" style=\"\" rel=\"noopener\">here<\/a>. The move still needs approval from stc\u2019s general assembly and regulatory clearance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is a related-party transaction: Stc is majority owned by the PIF with <\/strong><strong>a 64% stake.<\/strong> The agreement will also trigger the launch of a completely new entity under which the PIF\u2019s telecoms assets will be consolidated, the statements read. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Becoming the region\u2019s largest telecom infrastructure company: <\/strong>The PIF and stc will work together to consolidate Tawal and <a target=\"_blank\" href=\"https:\/\/latis.com.sa\/\" style=\"\" rel=\"noopener\">Golden Lattice<\/a><a target=\"_blank\" href=\"https:\/\/latis.com.sa\/\" style=\"\" rel=\"noopener\">Investment<\/a> (Glic) under a new entity that is expected to own and manage a portfolio of around 30k towers across five countries. <strong>The new entity will have annual revenues in the USD 1.3 bn range<\/strong>, the PIF statement reads. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Glic: <\/strong>GLIC owns and manages 8k telecom towers across the Kingdom and is majority owned by the PIF. Prince Saud Bin Fahad bin Abdulaziz and Sultan Holding Company hold minority stakes in Glic.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This has been in the works since 2022: <\/strong>A PIF consortium bought a 60% stake in <a target=\"_blank\" href=\"https:\/\/www.zain.com\/en\/press-release\/zainksa-pif\" style=\"\" rel=\"noopener\">Zain KSA\u2019s<\/a><a target=\"_blank\" href=\"https:\/\/www.zain.com\/en\/press-release\/zainksa-pif\" style=\"\" rel=\"noopener\">Glic<\/a> back in 2022 for SAR 3 bn, which landed the consortium a 60% majority stake in the telecom towers company. Later that year, The PIF made a non-binding offer to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-24\/saudi-pif-offers-to-buy-stake-in-5-8-billion-stc-towers-unit\" style=\"\" rel=\"noopener\">buy a 51% stake in Tawal<\/a> with a view to combining the two. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How it\u2019s going down: A share swap + cash-settlement: <\/strong>The acquisition of Tawal will be done by means of a share swap where stc along with the minority owners of Glic will get ownership shares in the new entity, while <strong>stc will also receive SAR 8.7 bn<\/strong> that it plans to use to finance its \u201cgrowth and expansion strategy along with maximizing its shareholders\u2019 return.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who will own what?<\/strong> The PIF will hold a majority stake of 54%, followed by stc (43%), along with with minority shareholders holding a combined 3%. Stc will also have to inject SAR 533 mn into the new entity for its shareholding amount to settle at 43%, <strong>bringing the capital of the new entity at SAR 1.2 bn, <\/strong>according to our calculations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Talking valuation: Tawal <\/strong>is valued at SAR 22 bn, and <strong>Glic <\/strong>is valued at SAR 3 bn \u2014 both valuations are excluding the companies\u2019 cashflow and debt obligations.<\/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\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/stc\/\">STC<\/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=\"85444\" 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=\"85444\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">ENTERPRISE EXPLAINS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/the-pif-had-a-really-busy-1q-2024-heres-what-you-need-to-know\/\">\r\n                            Here\u2019s what you need to know about the Saudi Public Investment Fund\u2019s very busy first quarter of 2024                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/the-pif-had-a-really-busy-1q-2024-heres-what-you-need-to-know\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Its mandate to go big now sees it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0f958dca-07ac-4151-85cb-8b51c097592f\" style=\"\" rel=\"noopener\">ramping up<\/a> its annual deployment capacity with the goal of hitting USD 70 bn a year starting 2026, up from the current annual pace of USD 40-50 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Its spending spree easily placed it atop the sovereign fund league table for 2023<\/strong>, with investments up 33% y-o-y to USD 21.6 bn through 49 transactions. PIF dethroned Singapore's sovereign Government of Singapore Investment Corporation (GIC) for the first time in five years in the ranking. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The PIF had a relatively busy 1Q:<\/strong> Since the start of the year, the PIF has been on track to secure the top SWF spot for a second consecutive year with multiple investments across sectors including oil, technology, and gaming.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It doubled the size of its stake in Aramco: <\/strong>The PIF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/27c8534c-1cc4-40c9-a7c7-061f695a9404\" style=\"\" rel=\"noopener\">grabbed a bigger piece<\/a> of Aramco in March ahead of a potential secondary share sale by the state-owned oil giant. The private transaction \u2014 which was worth about USD 164 bn \u2014 saw the government offloading an 8% stake in Aramco to the fund. The transfer brought the PIF\u2019s direct and indirect ownership of the oil giant to 16%, providing it \u201cwith over USD 9 bn in annual dividend revenue from Aramco\u201d. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And banking on sustainable tech manufacturing: <\/strong>The PIF\u2019s new advanced manufacturing investment platform Alat <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4a3cbdd1-60dd-4955-bd83-a2f9d378e836\" style=\"\" rel=\"noopener\">unveiled in February<\/a> four new global partnerships under a plan to create a sustainable manufacturing hub in the Kingdom. It plans to invest USD 100 bn through 2030. The partnerships include a USD 150 mn investment by Alat with Japanese technology investment giant Softbank to create an industrial automation venture that will manufacture advanced industrial robots.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While still maintaining its love for EVs:<\/strong> PIF unit Ayar Third Investment Company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/24d261bb-f0f8-4a49-988c-7e3eeebeaa2a\" style=\"\" rel=\"noopener\">is set<\/a> to buy an additional USD 1 bn worth of stock in US luxury EV manufacturer Lucid Motors. The EV maker raised USD 3 bn in capital in 2Q 2023 of which USD 1.8 bn came from the PIF. The potential proceeds will finance the company\u2019s capex and working capital, among other things.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And a push for world-scale AI play + gaming: <\/strong>PIF executives <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/399e70a3-e2fe-4f5f-8a42-286b5b4ce2db\" style=\"\" rel=\"noopener\">have been reportedly<\/a> exploring the setup of a USD 40 bn fund to invest in AI, making the fund the world\u2019s largest investor in AI. The fund could start investing as early as the second half of this year. It would invest in everything AI, from chipmakers and AI companies to data centers. PIF-owned Savvy Games Group said it is eyeing more investments in mobile game development after its online board game Monopoly Go gained major traction, grossing some USD 2 bn in sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cybersecurity was also on the PIF\u2019s radar: <\/strong>The PIF\u2019s Saudi Information Technology (Site) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3536b78d-6bca-46f4-ab63-2f298ecbdf80\" style=\"\" rel=\"noopener\">signed an agreement<\/a> with South Korean IT solutions provider AhnLab to establish a cybersecurity joint venture. They\u2019re looking to market cybersecurity solutions to government agencies and the private sector in Saudi and across the region and into North Africa. A wholly owned unit of Site is set to acquire a stake in the Seoul-based firm through a KRW 74.4 bn (c. USD 55.3 mn) capital injection on 27 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we expect to see in the coming months: <\/strong>Sabic\u2019s sale of steel subsidiary Hadeed to the PIF \u2014 which could draw in USD 1.7 bn to USD 1.9 bn upon its completion \u2014 is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/927c9005-50b0-4a1f-b4e5-599628a82d8b\" style=\"\" rel=\"noopener\">set to close<\/a> during the first half of the year. PIF-backed Manara is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ef5171e7-6692-4b5d-80be-a73cd23640b3\" style=\"\" rel=\"noopener\">reportedly close<\/a> to a USD 1 bn investment in Barrick Gold\u2019s Reko Diq copper and gold mining project in Pakistan. It is also vying for a stake in Zambia's First Quantum Minerals copper mines Sentinel and Kansanshi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And beyond:<\/strong> The Public Investment Fund (PIF) is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8cb34099-b080-4684-a0e2-3a2488ce9c9c\" style=\"\" rel=\"noopener\">reportedly in early talks<\/a> to acquire national carrier Saudia as soon as next year to add it to its aviation assets portfolio. Saudia\u2019s ownership will be taken over by PIF from the government with the intention of improving its efficiency and net income. It could be either privatized or merged with Riyadh Air \u2014 a second flagship carrier being set up by PIF, they added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The spending spree is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9eb3e954-0280-4850-8be9-becd1d915544\" style=\"\" rel=\"noopener\">sending the PIF<\/a><\/strong><strong> considering more global bond sales and IPOs<\/strong> as it looks to build up the liquidity it needs to invest faster. The fund <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ba2ec221-20e3-415c-ae7a-0392be183bb4\" style=\"\" rel=\"noopener\">raised USD 7 bn<\/a> since the start of the year in two global debt sales. Pieces of PIF\u2019s portfolio companies may soon be up for grabs as part of the fund\u2019s plan. This could include anything from Saudi Telecom (Stc) to Maaden and Tadawul Group. Some of those lined up for share sales by the PIF this year include leading pharma player Nupco and Saudi Global Ports. The plan comes as the PIF\u2019s liquid assets fell to its lowest level since 2020 to USD 15 bn as of September.<\/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\/enterprise-explains\/\">ENTERPRISE EXPLAINS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pif-watch\/\">PIF watch<\/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=\"85446\" 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=\"85446\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/more-love-from-aramco-for-chinese-refineries\/\">\r\n                            Aramco could grab a 10% stake in China\u2019s Hengli Petrochemical                        <\/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\/23\/more-love-from-aramco-for-chinese-refineries\/\" 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\/23\/more-love-from-aramco-for-chinese-refineries\/')\">\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\/23\/more-love-from-aramco-for-chinese-refineries\/\">\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=More love from Aramco for Chinese refineries&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/more-love-from-aramco-for-chinese-refineries\/\">\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\/23\/more-love-from-aramco-for-chinese-refineries\/&title=More love from Aramco for Chinese refineries\">\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=More+love+from+Aramco+for+Chinese+refineries+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F23%2Fmore-love-from-aramco-for-chinese-refineries%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\/23\/more-love-from-aramco-for-chinese-refineries\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1615.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85447\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/more-love-from-aramco-for-chinese-refineries\/1615-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1615.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1615.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1615.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1615.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85446\" class=\"content-area-description single-story post-85446 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-aramco tag-enterpriseam-ksa tag-hengli-group tag-hengli-petrochemical tag-ma-watch 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\/.a5e5a413-d60e-4af1-aec4-1ac13576ab25.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco is in talks to acquire a 10% stake in China\u2019s Hengli <\/strong><strong>Petrochemical<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2024\/aramco-in-talks-to-acquire-10-percent-stake-in-chinese-company-hengli-petrochemical\" style=\"\" rel=\"noopener\">statement by the oil giant<\/a> yesterday. It signed an MoU with parent Hengli Group to explore the potential acquisition, which is subject to due diligence and regulatory approvals. No financial details or timeline on the proposed transaction was provided, but the minority stake <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-22\/aramco-in-talks-to-buy-10-stake-in-hengli-petrochemical\" style=\"\" rel=\"noopener\">could be valued at USD 1.5 bn<\/a> based on the Chinese refiner\u2019s current share price.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale: <\/strong>Aramco wants to expand its downstream expansion strategy in \u201ckey high-value markets, advance its liquids-to-chemicals program, and secure long-term crude oil supply agreements,\u201d according to the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Hengli Petrochemical: <\/strong>The company owns and operates a number of oil production facilities across several Chinese provinces, including a 400k bpd refinery and petrochemicals complex in Liaoning.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco has been banking on Chinese refineries for some time: <\/strong>The state-owned oil company signed a MoU <a target=\"_blank\" href=\"https:\/\/english.alarabiya.net\/News\/middle-east\/2024\/01\/02\/Saudi-Aramco-China-s-Rongsheng-in-talks-to-buy-stake-in-each-other-s-units\" style=\"\" rel=\"noopener\">earlier this year<\/a> with Chinese privately-owned refiner Rongsheng Petrochemical to explore the possibility of buying stakes in each other\u2019s units. The MoU came months after Aramco <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2023\/aramco-completes-purchase-of-rongsheng-petrochemical-stake\" style=\"\" rel=\"noopener\">closed in last year<\/a> the acquisition of a 10% stake in Rongsheng Petrochemical for USD 3.4 bn through its Netherlands-based subsidiary, Aramco Overseas Company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And more:<\/strong> Aramco <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2023\/aramco-and-eastern-shenghong-sign-cooperation-framework-agreement\" style=\"\" rel=\"noopener\">said last year<\/a> that it aims to become a strategic investor in Jiangsu Shenghong Petrochemical through a possible 10% stake in the refiner which owns and operates a 320k bpd integrated refinery and petrochemicals complex. The interest in Jiangsu Shenghong came weeks after it <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2023\/aramco-assesses-possible-investment-in-shandong-yulong-petrochemical\" style=\"\" rel=\"noopener\">signed a MoU<\/a> with Shandong Yulong Petrochemical to discuss a potential 10% stake acquisition in the refiner which processes c. 400k bpd of crude oil.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taking Beijing\u2019s side: <\/strong>The growing commercial ties between Aramco and China sent the oil company\u2019s CEO Amin Nasser taking Beijing\u2019s side against accusations that China is dumping low-cost solar panels and EVs on Europe, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c382eec3-5b03-48ec-8acf-5589fdaa6527\" style=\"\" rel=\"noopener\">Financial Times<\/a> reported. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What Nasser said:<\/strong> \u201cChina really helped by reducing the cost of solar energy,\u201d he said during the World Energy Congress in Rotterdam. \u201cA lot of what happened in solar panels is because of what China did in terms of reducing [prices]. We can see the same now in electric vehicles. Their cost is one-third to one-half the cost of other electric vehicles. So we need globalization and collaboration if we are going to achieve our energy targets by 2050.\u201d<\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hengli-group\/\">Hengli Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hengli-petrochemical\/\">Hengli Petrochemical<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85448\" 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=\"85448\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/mohammed-hadi-al-rasheed-inches-closer-to-an-ipo-on-nomu\/\">\r\n                            Mohammed Hadi Al Rasheed sets IPO price at SAR 22-28 a piece                        <\/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\/23\/mohammed-hadi-al-rasheed-inches-closer-to-an-ipo-on-nomu\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/mohammed-hadi-al-rasheed-inches-closer-to-an-ipo-on-nomu\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/mohammed-hadi-al-rasheed-inches-closer-to-an-ipo-on-nomu\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Mohammed Hadi Al Rasheed inches closer to an IPO on Nomu&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/mohammed-hadi-al-rasheed-inches-closer-to-an-ipo-on-nomu\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/mohammed-hadi-al-rasheed-inches-closer-to-an-ipo-on-nomu\/&title=Mohammed Hadi Al Rasheed inches closer to an IPO on Nomu\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Mohammed+Hadi+Al+Rasheed+inches+closer+to+an+IPO+on+Nomu+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F23%2Fmohammed-hadi-al-rasheed-inches-closer-to-an-ipo-on-nomu%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/mohammed-hadi-al-rasheed-inches-closer-to-an-ipo-on-nomu\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1575.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85449\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/mohammed-hadi-al-rasheed-inches-closer-to-an-ipo-on-nomu\/1575-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1575.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1575.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1575.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1575.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85448\" class=\"content-area-description single-story post-85448 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-enterpriseam-ksa tag-ipo-watch tag-mohammed-hadi-al-rasheed tag-nomu tag-tadawul wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.ef2352f0-1b1b-4759-94aa-a83353f2041c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Mohammed <\/strong><strong>Hadi Al-Rasheed is going public<\/strong>: Riyadh-based construction and mining firm <a target=\"_blank\" href=\"https:\/\/alrasheedco.com.sa\/\" style=\"\" rel=\"noopener\">Mohammed Hadi Al-Rasheed<\/a> is gearing up to float 1.44 mn ordinary shares \u2014 good for a 12% stake\u2014 on parallel market Nomu, according to its <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&amp;id=6518132cb6&amp;e=8e5fca127e\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Al-Rasheed\u2019s is guiding on a price range of SAR 22 to SAR 28 per share, according to <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/y42a479z\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. Qualified investors can place their orders from Sunday, 28 April, to Monday, 6 May. Each investor can purchase a minimum of 10 shares and a maximum of 600k shares.<strong> The final share allocation is scheduled for Sunday, 12 May.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds:<\/strong> Selling shareholders will take home the proceeds from the transaction after covering some SAR 2.8 mn in transaction-related expenses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lock-up period:<\/strong> Al-Rasheed has three main shareholders whose ownership will settle at a combined 66.7% stake after the sale, down from a previous 75.8%. Substantial shareholders will not be able to execute any transactions on their shares for a 12 months period from the start of trading.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- Yaqeen Capital <\/strong>is quarterbacking the transaction as lead manager and financial advisor, while <strong>RSM<\/strong> is acting as legal council. The <strong>underwrites <\/strong>include Derayah, Al Jazira Capital, Albilad Capital, SNB Capital, Alinma Investment, Alistithmar Capital, Riyad Capital, and ANB Capital.<\/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 Nomu:<\/strong> The parallel market\u2019s pipeline this year includes schools operator <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/95215e1a-888d-431c-bb69-1cac75c1bc8f\/\" style=\"\" rel=\"noopener\">Horizon Educational<\/a>, Riyadh-based advisor <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d3827f9d-1d4d-4c69-9356-a44c16cce176\/\" 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\/\" style=\"\" rel=\"noopener\">Qomel<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0cc58c0f-fd29-427c-a17b-d7d08cd22820\/\" style=\"\" rel=\"noopener\">Leaf Global Environmental Services<\/a>, petroleum derivatives manufacturer Petrol Naas and Arabian United Float Glass. <\/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\/mohammed-hadi-al-rasheed\/\">Mohammed Hadi Al Rasheed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nomu\/\">Nomu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tadawul\/\">Tadawul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85450\" 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=\"85450\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/value-makers-studio-invests-in-egypt-based-waffarha\/\">\r\n                            Value Makers Studio led the seed funding round of Egypt-based Waffarha                        <\/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\/23\/value-makers-studio-invests-in-egypt-based-waffarha\/\" 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\/23\/value-makers-studio-invests-in-egypt-based-waffarha\/')\">\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\/23\/value-makers-studio-invests-in-egypt-based-waffarha\/\">\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=Value Makers Studio invests in Egypt-based Waffarha&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/value-makers-studio-invests-in-egypt-based-waffarha\/\">\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\/23\/value-makers-studio-invests-in-egypt-based-waffarha\/&title=Value Makers Studio invests in Egypt-based Waffarha\">\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=Value+Makers+Studio+invests+in+Egypt-based+Waffarha+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F23%2Fvalue-makers-studio-invests-in-egypt-based-waffarha%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\/23\/value-makers-studio-invests-in-egypt-based-waffarha\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1540.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85451\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/value-makers-studio-invests-in-egypt-based-waffarha\/1540-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1540.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1540.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1540.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1540.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85450\" class=\"content-area-description single-story post-85450 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam-ksa tag-startup-watch tag-value-makers-studio tag-waffarha 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\/.071bc440-8d00-4c4b-b4a3-dd71cbc82420.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Value Makers Studio (VMS) led a seven-figure seed funding round for <\/strong><strong>Egypt-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/waffarha.com\/en\" style=\"\" rel=\"noopener\">coupon app Waffarha<\/a><\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/04\/waffarha-secures-seven-figure-seed-round-vms\" style=\"\" rel=\"noopener\">press release<\/a>. There\u2019s no publicly available information about the funding structure, the of the stake accumulated by VMS, or clarity on the currency of the seven-figure raise. <strong>Egypt\u2019s fintech giant <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.fawry.com\/\" style=\"\" rel=\"noopener\">Fawry<\/a><\/strong><strong> holds a 30% stake in Waffarha.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This strategic partnership with a local player plays well into Waffarha\u2019s plan to expand <\/strong><strong>into the local market<\/strong>, get a grip on the customer persona of the Saudi consumers while targeting them with appealing marketing campaigns. <strong>The venture studio aims at helping early-stage startups succeed in the local market.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds:<\/strong> The funds are earmarked to finance the company\u2019s expansion strategy including in the Kingdom, along with growing its team, and enhancing its tech offering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Waffarha provides discounted offers for products and services in multiple sectors <\/strong>including F&amp;B, entertainment, health &amp; beauty, and hospitality through its network of 1k merchants and 3k stores. Waffarha also has a B2B segment that offers white-label loyalty solutions to partners and vendors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More and more Egyptian startups are pushing into the Saudi market<\/strong>, the latest of which is Bluworks. The blue-collar HR-tech startup raised <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/697d272b-a69b-4859-847e-ba75a073d34b\/\" style=\"\" rel=\"noopener\">USD 1 mn<\/a> in a pre-seed funding round led by Khawarizmi Ventures.<\/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\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/value-makers-studio\/\">Value Makers Studio<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/waffarha\/\">Waffarha<\/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=\"85452\" 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=\"85452\">\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\">RENEWABLES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/acwa-power-to-decarbonize-parts-of-azerbaijans-state-oil-company-socar\/\">\r\n                            Acwa Power to decarbonize parts of Azerbaijan\u2019s state oil company, Socar                        <\/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\/23\/acwa-power-to-decarbonize-parts-of-azerbaijans-state-oil-company-socar\/\" 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\/23\/acwa-power-to-decarbonize-parts-of-azerbaijans-state-oil-company-socar\/')\">\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\/23\/acwa-power-to-decarbonize-parts-of-azerbaijans-state-oil-company-socar\/\">\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 to decarbonize parts of Azerbaijan\u2019s state oil company, Socar&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/acwa-power-to-decarbonize-parts-of-azerbaijans-state-oil-company-socar\/\">\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\/23\/acwa-power-to-decarbonize-parts-of-azerbaijans-state-oil-company-socar\/&title=Acwa Power to decarbonize parts of Azerbaijan\u2019s state oil company, Socar\">\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+to+decarbonize+parts+of+Azerbaijan%E2%80%99s+state+oil+company%2C+Socar+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F23%2Facwa-power-to-decarbonize-parts-of-azerbaijans-state-oil-company-socar%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\/23\/acwa-power-to-decarbonize-parts-of-azerbaijans-state-oil-company-socar\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1617.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85453\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/acwa-power-to-decarbonize-parts-of-azerbaijans-state-oil-company-socar\/1617-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1617.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1617.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1617.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1617.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85452\" class=\"content-area-description single-story post-85452 post type-post status-publish format-standard has-post-thumbnail hentry category-renewables tag-acwa-power tag-azerbaijan tag-enterpriseam-ksa tag-green-hydrogen tag-renewables tag-socar 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\/.bff22858-5233-4e7f-a701-1c0b61419e39.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa <\/strong><strong>power and Azerbaijan\u2019s state oil company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.socar.az\/en\/page\/about-us\" style=\"\" rel=\"noopener\">Socar<\/a><\/strong><strong> have agreed to work <\/strong><strong>together to decarbonize of some of Socar\u2019s downstream assets<\/strong> through the production of green hydrogen, according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/acwa-power-and-socar-forge-partnership-to-drive-renewable-energy-development-in-azerbaijan-ftp5e3fg\" style=\"\" rel=\"noopener\">a joint press release<\/a>. Information about the value and timeline for the project has not yet been disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The project\u2019s initial phase will focus on Socar\u2019s carbamide fertilizer facility. The two will also conduct feasibility studies on green fertilizers, with Acwa Power taking the lead on renewable-energy production.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said<\/strong>: \"The cooperation with ACWA Power represents a significant step forward in Azerbaijan's transition towards a low-carbon economy and underscores the commitment of both organizations to sustainable development practices\", said Anar Mammadov, vice president of Socar. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa Power has a strong foothold in Baku\u2019s renewables industry:<\/strong> The water desalination giant is currently building what\u2019s talked up to be Azerbaijan's and the region's largest <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c2a3255a-af8f-40f6-85c6-415778cccb0d\" style=\"\" rel=\"noopener\">240 MW wind power plant<\/a> with USD 345 mn in investments, the statement reads. The project is expected to generate 1 mn MWh of electricity to offset 400k tons of CO2 emissions annually. The company also signed a roadmap agreement <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7a867c0d-a494-4f3b-a7f2-9611b8ab29c4\" style=\"\" rel=\"noopener\">in October 2023<\/a> to develop a 200 MW onshore wind farm with battery storage facilities in the landlocked country. This is in addition to a cooperation agreement inked in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dedf7d18-da3d-4901-adb5-2a1d77be0b1d\" style=\"\" rel=\"noopener\">February 2023<\/a> that will see the company set up a 1.5 GW offshore wind energy project. Earlier in 2022, Acwa <a target=\"_blank\" href=\"https:\/\/www.power-technology.com\/news\/acwa-power-azerbaijan\/\" style=\"\" rel=\"noopener\">broke ground<\/a> on another 240 MW in Azerbaijan with a reported investment ticket of USD 300 mn.<\/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\/azerbaijan\/\">Azerbaijan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/green-hydrogen\/\">Green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/renewables\/\">RENEWABLES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/socar\/\">Socar<\/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=\"85454\" 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=\"85454\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/islamic-development-bank-outlines-investment-plan-for-2024-with-focus-on-energy\/\">\r\n                            Islamic Development Bank to invest USD 4.5 bn in 57 projects in MENA and Asia                        <\/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\/23\/islamic-development-bank-outlines-investment-plan-for-2024-with-focus-on-energy\/\" 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\/23\/islamic-development-bank-outlines-investment-plan-for-2024-with-focus-on-energy\/')\">\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\/23\/islamic-development-bank-outlines-investment-plan-for-2024-with-focus-on-energy\/\">\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=Islamic Development Bank outlines investment plan for 2024 with focus on energy&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/islamic-development-bank-outlines-investment-plan-for-2024-with-focus-on-energy\/\">\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\/23\/islamic-development-bank-outlines-investment-plan-for-2024-with-focus-on-energy\/&title=Islamic Development Bank outlines investment plan for 2024 with focus on energy\">\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=Islamic+Development+Bank+outlines+investment+plan+for+2024+with+focus+on+energy+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F23%2Fislamic-development-bank-outlines-investment-plan-for-2024-with-focus-on-energy%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\/23\/islamic-development-bank-outlines-investment-plan-for-2024-with-focus-on-energy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1522.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85455\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/islamic-development-bank-outlines-investment-plan-for-2024-with-focus-on-energy\/1522-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1522.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1522.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1522.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1522.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85454\" class=\"content-area-description single-story post-85454 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-enterpriseam-ksa tag-islamic-development-bank tag-muhammad-al-jasser 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\/.7ba41b4c-4eed-4542-8957-4ac39a7bcbce.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Islamic Development Bank (IsDB) plans to invest USD 4.5 bn in as many <\/strong><strong>as 57 <\/strong><strong>sustainable and infrastructure projects<\/strong> across member states this year, chairman Muhammad Al Jasser told <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/04\/21\/article_2719721.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a>. This is up from USD 4.3 bn that the Jeddah-based multilateral lender committed to 40 projects last year, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Already in the pipeline:<\/strong> The IsDB has already approved allocating USD 533 mn in fundingsince the start of the year for projects in Africa and Asia. These include a transportation project in Nigeria and agriculture projects in Benin, Cameroon, Senegal and Tajikistan. It also approved an energy project in Malaysia and a solar plant in Uzbekistan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong>Some 58% of total funds for this year will be channeled into the energy and transportation sectors, according to Jassir. The agriculture and education sectors will then follow with 19% and 9%, respectively. The remainder of the funds will be distributed between rural and water and urban development, health and finance. MENA will account for 32% of total investments with Asia and the rest of Africa getting 34% and 32%, respectively. The bank has also included South America, which will account for 2% of investments this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IsDB\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/isdb-am.org\/\" style=\"\" rel=\"noopener\">annual meeting in Riyadh<\/a><\/strong><strong> next week will serve as a window <\/strong>for member countries to mull economic ties and maximize cooperation with participating financial institutions, Al Jasser said. The meeting, which will also include the IsDB\u2019s Golden Jubilee to mark the bank\u2019s 50th anniversary, will see participation from policymakers, the private sector, financial institutions and the private sector. It will run from Saturday, 27 April until Wednesday, 30 April.<\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/islamic-development-bank\/\">Islamic Development Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/muhammad-al-jasser\/\">Muhammad Al Jasser<\/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=\"85456\" 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=\"85456\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/a-new-shipping-service-in-dammam-plus-healthcare-tech-and-manufacturing\/\">\r\n                            A new shipping service in Dammam. Plus: healthcare, tech and manufacturing                        <\/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\/23\/a-new-shipping-service-in-dammam-plus-healthcare-tech-and-manufacturing\/\" 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\/23\/a-new-shipping-service-in-dammam-plus-healthcare-tech-and-manufacturing\/')\">\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\/23\/a-new-shipping-service-in-dammam-plus-healthcare-tech-and-manufacturing\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=A new shipping service in Dammam. 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Plus: healthcare, tech and manufacturing\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=A+new+shipping+service+in+Dammam.+Plus%3A+healthcare%2C+tech+and+manufacturing+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F23%2Fa-new-shipping-service-in-dammam-plus-healthcare-tech-and-manufacturing%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\/23\/a-new-shipping-service-in-dammam-plus-healthcare-tech-and-manufacturing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1634.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85457\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/a-new-shipping-service-in-dammam-plus-healthcare-tech-and-manufacturing\/1634-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1634.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1634.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1634.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1634.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85456\" class=\"content-area-description single-story post-85456 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-al-yamamah-steel-industries tag-also-on-our-radar tag-enterpriseam-ksa tag-national-medical-care tag-openspace tag-saudi-ports-authority tag-wakecap 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\/.d63522a4-e444-4801-8bae-e92be839786e.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mawani adds new shipping service to Dammam: <\/strong>The Saudi Port Authority (Mawani) has added a new weekly service, operated by the Mediterranean Shipping Company (MSC), to King Abdul Aziz Port in Dammam, it said in a <a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=220424\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The new shipping service, dubbed East Africa Express, will connect Dammam\u2019s port to India\u2019s Mundra Port, Pakistan\u2019s Qasim Port, and UAE\u2019s Abu Dhabi and Jebel Ali Ports. It will offer a capacity of up to 11k TEUs.<\/p>\n<p class=\"tag-border-left\">HEALTHCARE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul-listed National Medical Care has landed a three-year SAR 381 mn <\/strong><strong>contract with <\/strong><strong>Prince Sultan Military Medical City<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMTAwFQ_ODVPvyA3NMIgMyA3XNdREQCeYmJe\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTUwNy9jb21wYW55U3ltYm9sLzQwMDUvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The agreement \u2014 which is still subject to regulatory approval \u2014 will see the healthcare provider provide medical services to the armed forces hospital\u2019s long-term care patients. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- National Medical Care\u2019s board has recommended a dividend payout of SAR 89.7 <\/strong><strong>mn <\/strong>at SAR 2 per share for FY2023, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMTAwFQ_ODVPvyA3NMIgMyA3XNdREQCeYmJe\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTUwOC9jb21wYW55U3ltYm9sLzQwMDUvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">separate disclosure<\/a>. The distribution date is yet to be announced. <\/p>\n<p class=\"tag-border-left\">TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Smarter construction management is coming to the market: <\/strong>Homegrown IoT-based construction workforce management solution Wakecap signed partnership agreement with US-based AI construction technology company OpenSpace, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/wakecap-and-openspace-partner-to-transform-saudi-construction-with-advanced-global-technology-hwfs7kur\" style=\"\" rel=\"noopener\">statement<\/a>. The partnership hopes to convince local contractors that remote progress monitoring and tracking will help them better track and manage projects.<\/p>\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>Al Yamamah Steel Industries has begun commercial operations of the first phase <\/strong><strong>of its <\/strong><strong>Jeddah pipes plant expansion<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/mrxw7wwc\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a> yesterday. The start of operations at the first phase of the SAR 33 mn plant expansion comes a few years after the steel producer\u2019s board signed off the plan in 2021. The first phase <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1721250\" style=\"\" rel=\"noopener\">was first set<\/a> to begin operations in the second quarter of 2022, before being pushed back to Q2 2024 last year.<\/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-yamamah-steel-industries\/\">Al Yamamah Steel Industries<\/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-medical-care\/\">National Medical Care<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/openspace\/\">OpenSpace<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-ports-authority\/\">Saudi Ports Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/wakecap\/\">Wakecap<\/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=\"85458\" 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=\"85458\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/saudi-led-the-regional-equity-capital-market-league-table-as-the-year-gets-off-to-a-slow-start\/\">\r\n                            Saudi led the MENA equity capital market league table in a quiet 1Q 2024                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/saudi-led-the-regional-equity-capital-market-league-table-as-the-year-gets-off-to-a-slow-start\/\" 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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That\u2019s down 6% year-on-year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IPOs accounted for 80% of equity capital market activity<\/strong>, with follow-on offerings making up the rest. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi transactions led the way, accounting for seven of eight capital raises<\/strong> (two of them on Nomu) but the UAE had the single largest. In total, the region saw IPOs worth a combined USD 931 mn in 1Q 2024, while rights issues and other follow-on offerings make up the balance of the USD 1.2 bn raised. The big three IPOs: <\/p>\n<ul>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/de573f5b-c1df-4b13-ba64-58e95fdfcffb\/\" style=\"\" rel=\"noopener\">Dubai parking operator Parkin<\/a> \u2014 USD 428.7 mn (DFM) <\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bf94604c-d669-4f0d-9946-a119503f7306\/\" style=\"\" rel=\"noopener\">Modern Mills<\/a> \u2014 USD 314 mn (Tadawul)<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5261b26e-e759-43d6-9184-ec46b1506a08\" style=\"\" rel=\"noopener\">Avalon Pharma<\/a> \u2014 USD 130 mn (Tadawul)<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>{** Tap or click here to read this story with all of the links}<\/strong> to our background pieces as well as external resources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The current Saudi pipeline is looking robust<\/strong>, with the following offerings on deck for Tadawul\u2019s main market:<\/p>\n<ul>\n<li>Electronic retailer <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b0baadd8-46d4-4499-bd0b-9eaec84bcfef\/\" style=\"\" rel=\"noopener\">eXtra<\/a><\/strong> is looking to float a 30% stake UIHC, which operates its consumer finance arm under the Tasheel brand;<\/li>\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\/\" 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\/\" style=\"\" rel=\"noopener\">Boudl<\/a><\/strong> has filed to go public;<\/li>\n<\/ul>\n<ul>\n<li>Labor agency <strong>Smasco<\/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\" 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\/\" 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\/\" 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\/\" 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\/\" 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>Our friends at HSBC as well as Emirates NBD led the underwriting league table<\/strong> with equal market shares, the data shows. <\/p>\n<p class=\"tag-border-left\"> NYSE 24\/7?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Are you ready to trade New York equities around the clock? <\/strong>The New York Stock Exchange is polling \u201cmarket participants\u201d about their appetite for 24 \/ 7 stock trading. Regulators are separately looking into an application that could make the move possible. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Getting in step with the times? Or the fall of the last bastion of work-life balance in <\/strong><strong>finance<\/strong><strong>? <\/strong>\u201cStock exchanges have become something of a laggard in a world where other big markets, including US treasuries, major currencies, and leading stock index futures, can be traded around the clock from Monday to Friday,\u201d writes the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/31c3a55b-9af9-4158-8a49-4397540571bf\" style=\"\" rel=\"noopener\">Financial Times<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And some brokers already simulate 24 \/ 7 weekday trading<\/strong> in a Rube Goldberg-type system that sees \u201ctrades either matched with their internal holdings, or conducted via a \u2018dark pool\u2019 trading venue such as Blue Ocean, where shares are often traded with Asian retail investors in their daytime,\u201d the paper notes. <\/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\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian shares are mixed in early trading this morning <\/strong>and futures suggest a soft opening for European markets and on Wall Street later today. <\/p>\n<p><a target=\"_blank\" id=\"t.4e547902646f0c175562f77f384a6f7a2ecc89eb\" 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\">12,509<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +4.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,567.2<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">26,596.2<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: +8.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28,144<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.7% (YTD: +13.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,076<\/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: -5.2%)<\/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>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\">4,168<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -2.7%)<\/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>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\">5,011<\/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: +5.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,024<\/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\">+1.6% (YTD: +3.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,937<\/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: +9.2%)<\/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>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 87.00<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 1.80<\/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 2,342<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">66,904<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+3% (YTD: +143.3%)<\/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 fell 0.1% <\/strong><strong>yesterday <\/strong>on turnover of SAR 8.9 bn. The index is up 4.5% 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> Al Rajhi Takaful (+9.9%), LIVA (+9.9%) and Gulf Central (+9.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Saudi Cable (-4.9%), AlKhaleej Training (-4.8%) and Sharqiyah Development (-4.1%).<\/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> fell 1.3% <strong>yesterday<\/strong>on turnover of SAR 38 mn. The index is up 8.4% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Dar AlMarkabah (+9.7%), Mayar (+7%) and AlQemam (+5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong>Raoom (-7.3%), NGDC (-5.6%) and Tadweer (-5.2%)<\/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 Riyadh Cables have approved a dividend payout of SAR 224.6 <\/strong><strong>mn<\/strong> at SAR 1.5 per share for FY 2023, it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1531.pdf\" style=\"\" rel=\"noopener\">a<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1531.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1531.pdf\" style=\"\" rel=\"noopener\">) to Tadawul<\/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\/capital-markets\/\">Capital Markets<\/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\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85460\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/23\/85460\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85460\" class=\"content-area-description single-story post-85460 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;\">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;\">21-24 April (Sunday-Wednesday): International Conference on Renewable Energy Generation and Application 2024, Dhahran.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">24-25 April (Wednesday-Thursday): Middle East Change Management Conference 2024, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-29 April (Saturday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/riseupsaudi.com\/home\" style=\"\">RiseUp Saudi<\/a><\/span><span style=\"font-weight:400;\"> 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;\">27-30 April (Saturday-Wednesday): Saudi International Luxury Week 2024, Jeddah. <\/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>28-29 April (Sunday-Monday): International Conference on <\/span><span>Economics Finance<\/span><span style=\"font-weight:400;\"> and Accounting 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;\">28-30 April (Sunday-Tuesday): Saudi Mechanical Engineering Technology Conference and Exhibition 2024, Al Khobar. <\/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:400;\">30 April (Tuesday): GC Summit Saudi Arabia 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;\">30 April (Tuesday): HR Leaders Conference Riyadh 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: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>1<\/span><span>4-15 May (Tuesday and Wednesday): Saudi Great Futures, 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>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>PIF\u2019s busy 1Q | Bankers head to Neom | Aramco\u2019s China play | Saudi at global plastic negotiations | Saudi leads MENA ECM league table<\/p>\n","protected":false},"featured_media":85438,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-85437","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"95007c2c-3615-4abe-955e-3c614b2040f1","teaser":"PIF\u2019s busy 1Q | Bankers head to Neom | Aramco\u2019s China play | Saudi at global plastic negotiations | Saudi leads MENA ECM league table","photo_url":"https:\/\/ent.news\/2024\/3\/1397.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PIF wants to build the region\u2019s biggest telecom infrastructure play - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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