{"id":85651,"date":"2024-04-30T00:00:00","date_gmt":"2024-04-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=85651"},"modified":"2025-12-14T17:58:22","modified_gmt":"2025-12-14T17:58:22","slug":"modular-gigaprojects-and-a-30-year-timeline-to-rebuild-gaza","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/modular-gigaprojects-and-a-30-year-timeline-to-rebuild-gaza\/","title":{"rendered":"Modular Gigaprojects \u2014 and a 30-year timeline to rebuild Gaza"},"content":{"rendered":"<section id=\"85653\" 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=\"85653\">\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\/30\/blackrock-to-host-private-gathering-in-riyadh-bloomberg\/\">\r\n                            THIS MORNING: BlackRock to host \u201cprivate\u201d gathering in Riyadh -Bloomberg                        <\/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\/30\/blackrock-to-host-private-gathering-in-riyadh-bloomberg\/\" 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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Officials reassured investors yesterday that they\u2019re <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/11d20e6c-678e-468e-879b-82edc958350b\/is-neom-planning-its-first-ever-sukuk-sale%3F\" style=\"\" rel=\"noopener\">not scaling back<\/a>&nbsp;their gigaproject ambitions, though they hinted at the possibility that some see timelines stretched out, calling them \u201cmodular.\u201d That\u2019s in line with guidance from Finance Minister Mohamed Al Jadaan during last fall\u2019s budget process, when officials <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/63cece36-2173-462e-b416-e07d99393408\" style=\"\" rel=\"noopener\">could choose to pace-out components of some projects<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- We have updates on two Tadawul IPOs<\/strong>, including our first rundown on labor agency Smasco after the release yesterday of its prospectus. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ All of this and more in this morning\u2019s news well, below. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY here at home: Crown Prince Mohammed bin Salman said the Kingdom is <\/strong><strong>working with its global <\/strong><strong>partners to help \u201creach a resilient global economy,\u201d<\/strong><a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2093141\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. He said Saudi has provided direct support and made investments in development to help promote economic and financial stability across multiple economies. His statements came during a special dialogue session at the World Economic Forum (WEF) special meeting in Riyadh.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have full coverage of the second and final day of the forum at the top of this morning\u2019s news well, below.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT FIRST- On brand in so many ways: <\/strong><strong>Foreign Minister Prince Faisal bin Farhan was <\/strong><strong>spotted driving a Lucid-branded luxury <\/strong><strong>EV<\/strong>with his Egyptian and Jordanian counterparts on their way to a US ministerial consultative meeting for Gaza in Riyadh, <a target=\"_blank\" href=\"https:\/\/x.com\/AlArabiya_KSA\/status\/1784932061293252930\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reported.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Sama regional meeting on reserve management wraps today:<\/strong> The Saudi Central Bank (Sama) is holding a high-level regional meeting on reserve management in collaboration with the Bank for International Settlements, state-run <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2092694\" style=\"\" rel=\"noopener\">SPA<\/a> reports. The meeting, held in Riyadh, kicked off yesterday and wraps up today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Automechanika Riyadh opens today and runs through this Thursday, 2 May<\/strong> at the Riyadh International Convention and Exhibition Center. The annual trade fair will showcase the automotive industry\u2019s latest advances and innovations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also today: The US Federal Reserve kicks off a two-day monetary policy meeting. <\/strong>By late tomorrow, we could be a bit wiser on where the Fed\u2019s head is at right now on when it might start cutting interest rates.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong> Thundershowers in <strong>Riyadh<\/strong> and <strong>Al Taif <\/strong>are expected today with a high of 28\u00b0C and a low of 19\u00b0C. <strong>Makkah<\/strong> too with a high of 34\u00b0C and a low of 25\u00b0C.<\/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- US investment giant<\/strong><strong> BlackRock<\/strong><strong>is set<\/strong><strong> to host a \u201cprivate\u201d gathering in <\/strong><strong>Riyadh&nbsp;<\/strong>as the asset manager solidifies its footing in Saudi and the government continues to burnish the case it makes to foreign investors, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-29\/blackrock-lures-investors-at-saudi-arabia-event-mbs-may-attend?utm_content=business&amp;cmpid=socialflow-twitter-business&amp;utm_medium=social&amp;utm_source=twitter&amp;utm_campaign=socialflow-organic\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources it says are in the know. The event \u2014 which BlackRock is hosting with the Finance Ministry \u2014 is set to highlight potential investments in the Kingdom for key corporate executives and regional investors. \u201cThere is significant interest from our clients in the many investment [possibilities] in Saudi Arabia, arising from the continued economic transformation in the Kingdom,\u201d the business information service quotes a BlackRock spokesperson as saying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who we can expect to see:<\/strong> Public Investment Fund (PIF) governor Yasir Al Rumayyan and Energy Minister Prince Abdeulaziz bin Salman are set to speak at the event.. They will later join BlackRock CEO Larry Fink for talks on potential investments in Saudi, the sources told Bloomberg. Crown Prince Mohammed bin Salman could make an appearance at the private event, some of the sources said. It\u2019s unclear when the event is due to take place.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> BlackRock is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/aeb8a0fc-c57c-4745-98fd-d0c5511bc8ba\" style=\"\" rel=\"noopener\">said to be on an<\/a> \u201caggressive hunt for growth in Saudi Arabia,\u201d with Fink coming to town multiple times per year. The firm\u2019s 20-person Saudi team \u2014 the biggest among its peers and challengers \u2014 is \u201cembedding itself in different parts of the country\u2019s institutions and capital markets,\u201d the business information service writes.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#2- Neom has invested some SAR 2.5 bn (c. USD 675 mn) to date in foreign <\/strong><strong>companies<\/strong>, with most of the capital deployed focused on mobility technology, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/63185\/%D9%86%D9%8A%D9%88%D9%85-%D8%AA%D8%B3%D8%AA%D8%AB%D9%85%D8%B1-675-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%A8%D8%A7%D9%84%D8%AE%D8%A7%D8%B1%D8%AC-%D9%85%D8%B1%D9%83%D8%B2%D8%A9-%D8%B9%D9%84%D9%89-%D8%AA%D9%83%D9%86%D9%88%D9%84%D9%88%D8%AC%D9%8A%D8%A7-%D8%A7%D9%84%D8%AA%D9%86%D9%82%D9%84\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> cites Neom Deputy CEO Ryan Fayez as saying at an event yesterday. They include a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/542ff19b-5441-4350-89b8-ea41e1ae2cbd\" style=\"\" rel=\"noopener\">USD 175 mn investment<\/a> in German flying taxi maker Volocopter and multiple rounds of funding from the Neom Investment Fund in hydrogen-electric aircraft developer ZeroAvia. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Neom is all-in on non-traditional mobility solutions: <\/strong>Volocopter\u2019s eVTOLs will be essential to the mega city\u2019s smart and sustainable multimodal mobility system, which will be fully powered by renewables. It is also building a USD 8.4 bn green hydrogen facility \u2014 slated to be the world\u2019s largest of its kind.<\/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>#3- <\/strong><strong>The Bill and Melinda Gates Foundation will set up a regional office in Riyadh<\/strong>under a freshly-penned partnership with the Health Ministry, it said in a <a target=\"_blank\" href=\"https:\/\/reliefweb.int\/report\/world\/saudi-arabia-and-bill-melinda-gates-foundation-announce-landmark-push-eradicate-polio-and-lift-millions-out-poverty\" style=\"\" rel=\"noopener\">statement<\/a>. The office will help implement a plan to eradicate polio in Pakistan and Afghanistan, where polio is endemic. Saudi has written a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a2fddbf3-6f07-42c5-a909-bf47af342a97\/here%25e2%2580%2599s-what-you-need-to-know-about-day-one-of-the-world-economic-forum%25e2%2580%2599s-special-meeting-in-riyadh\" style=\"\" rel=\"noopener\">USD 500 mn ticket<\/a> to push forward the foundation\u2019s anti-polio drive. Separately, the Kingdom has earmarked <strong>USD 100 mn to<\/strong><strong> support<\/strong><strong> a development initiative that aims to reduce poverty<\/strong> in 33 of the least wealthy Islamic Development Bank member countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#4- Luxembourg-based air freight operator <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cargolux.com\/introducing-cargolux\/\" style=\"\" rel=\"noopener\">Cargolux<\/a><\/strong><strong> has chosen Dammam\u2019s King <\/strong><strong>Fahd <\/strong><strong>International Airport as its HQ for air freight operations in Saudi<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/04\/29\/article_2722061.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> quotes Transport and Logistics Minister Saleh Al Jasser as saying. He did not provide further details on when operations would be launched or the fleet set to be used by Cargolux. Authorities are also planning to establish logistics freezones at Dammam and Jeddah airports similar to the one at Riyadh Airport, Al Jasser said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- A Malta-flagged container ship was reportedly hit by three Houthi missiles while <\/strong><strong>traveling to Jeddah from Djibouti<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/container-ship-reportedly-targeted-with-missiles-near-yemens-mokha-ambrey-says-2024-04-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing British maritime security firm Ambrey. The United Kingdom Maritime Trade Operations agency confirmed the explosion near the vessel and assured safety of the crew, while Ambrey suggested the ship was targeted due to its operator\u2019s trade relations with Israel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#6- <\/strong><strong>Sabic aims to convert 1 mn tons of waste into feedstock by 2030<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4281708\/%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0%D9%8A-%D8%B3%D8%A7%D8%A8%D9%83-%D8%AA%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D8%AA%D8%AD%D9%88%D9%8A%D9%84-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%B7%D9%86-%D9%85%D9%86-%D8%A7%D9%84%D9%86%D9%81%D8%A7%D9%8A%D8%A7%D8%AA-%D8%A5%D9%84%D9%89-%D9%84%D9%82%D9%8A%D9%85-%D8%A8%D8%AD%D9%84%D9%88%D9%84-2030\/\" style=\"\" rel=\"noopener\">Mubasher<\/a> reported, citing statements by Sabic CEO Abdulrahman Al Faqih during a session at the World Economic Forum (WEF) special meeting yesterday. \u201cWe have adopted an alternative energy [source] from plastic waste, which we have used to begin manufacturing petrochemicals. We aim to have 1 mn tons by 2030,\u201d he said. He highlighted Sabic\u2019s commitment to sustainability, saying that the leading petrochem firm was able to slash its carbon footprint by 12.7% last year under a goal to reach net zero by the end of the decade.<\/p>\n<p class=\"tag-border-left\">DATA POINT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Assets held by real estate investment trusts grew 34% y-o-y in value terms to SAR 164.2 <\/strong><strong>bn in 4Q 2023<\/strong>, the highest level they\u2019ve been at in 15 quarters, according to <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/04\/28\/article_2721941.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> data. The newspaper attributes the increase to the number of participants in the asset class reaching a record of 61.1k in 2023 \u2014 that\u2019s 66% of the total number of people who have bought into any investment trust in the same period. <\/p>\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Asian buyers may be looking at higher crude prices from the Kingdom in <\/strong><strong>June<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-arabia-may-raise-prices-most-oil-grades-asia-june-2024-04-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing traders. Saudi Arabia is reportedly mulling a USD 0.70-0.90 per-barrel hike that would bring the prices of most of its crude grades to a five-month high. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>The price hikes come as market supply remains tight, Reuters notes, with prompt prices exceeding futures. The traders Reuters surveyed expect official selling prices of Arab Light, Arab Medium, and Arab Heavy to spike, \u201csupported by tight supply amid OPEC+ cuts and robust fuel oil margins.\u201d<\/p>\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taxpayers not yet selected for integration in the Zakat, Tax and Customs Authority <\/strong><strong>(Zatca) <\/strong><strong>electronic invoicing Fatoora portal<\/strong> will be notified six months in advance of a set period for their integration, Zatca said in a <a target=\"_blank\" href=\"https:\/\/x.com\/Zatca_sa\/status\/1784886817436598364\" style=\"\" rel=\"noopener\">post on X<\/a>. The e-invoicing rollout began in late 2021. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong>&nbsp;and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p 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>Gaza leads the front pages of the global business press<\/strong>, with hope rising in some quarters that an Egypt-brokered ceasefire agreement may be near.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could fresh talks begin as soon as today in Cairo? <\/strong>Israel has reportedly agreed to send a team of negotiators, and Hamas said it is \u201cstudying\u201d a ceasefire proposal, but hasn\u2019t yet confirmed it will participate. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The downside risk: <\/strong>An unconfirmed report by Egyptian broadcaster Al Qahera News claims the Hamas delegation left Cairo overnight and will respond in writing to the proposal (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=yi8PJjBAhNg\" style=\"\" rel=\"noopener\">watch, runtime: 0:22<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The hope: We could see something along the lines of a 40-day ceasefire in Gaza <\/strong>and the freeing of some Palestinian prisoners held in Israeli jails in return for the release of c. 33 Israelis held by Hamas. The exact details vary from report to report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Antony Blinken sounded like a hawker in Khan El Khalili<\/strong> as he told Hamas to accept Israel\u2019s \u201cextraordinarily generous\u201d offer, hinting it wouldn\u2019t be on the table for long. The US Secretary of State is expected to leave Riyadh for <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/blinken-begins-high-stakes-middle-east-trip-aimed-at-gaza-cease-fire-d0dfcc25?mod=hp_lead_pos9\" style=\"\" rel=\"noopener\">Jordan and Israel<\/a>, staying close to the region after meeting yesterday with Arab foreign ministers. Egyptian Foreign Minister Sameh Shoukry would say only that he\u2019s \u201chopeful.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The spin: <\/strong>Israel has <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/4a7e2b2d-dc49-4181-80b8-2f9d05bc6e13\" style=\"\" rel=\"noopener\">\u201csignificantly softened\u201d its stance<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Joe Biden put in calls to Egyptian President Abdel Fattah El Sisi <\/strong>and Qatari Emir Sheikh Tamim bin Hamad Al Thani to push forward the talks, while Secretary of State Antony Blinken <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/blinken-saudi-crown-prince-discuss-achieving-peace-security-gaza-us-says-2024-04-29\/\" style=\"\" rel=\"noopener\">met yesterday<\/a> in Riyadh with Crown Prince Mohammed bin Salman. (We have more on Biden and Prince Mohamed in this morning\u2019s Diplomacy section, below.) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- US politicians are circling the wagons and threatening the International <\/strong><strong>Criminal Court \u201cwith US retaliation\u201d<\/strong> if it goes ahead with plans to issue arrest warrants for Israeli officials over the conduct of the war in Gaza. Some lawmakers <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/04\/29\/icc-congress-netanyahu-israel-gaza\" style=\"\" rel=\"noopener\">are already preparing legislation<\/a> that would make the sanctions real. The Biden administration has <strong>claimed the ICC doesn\u2019t have jurisdiction over events in Gaza<\/strong> and said that <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-29\/israel-s-allies-warn-icc-action-could-jeopardize-ceasefire-with-hamas?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">arrest warrants could stop movement toward a ceasefire<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- At least 20 lawyers in the Biden administration are breaking ranks<\/strong> with the White House, calling on the president to <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/04\/29\/lawyers-israel-arm-sales-biden-00154958\" style=\"\" rel=\"noopener\">block further arms shipments to Israel<\/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\"><strong>AWAY FROM GAZA- <\/strong>Worries are mounting about the chances of <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/04\/29\/world\/africa\/el-fasher-darfur-sudan.html\" style=\"\" rel=\"noopener\">mass killing in Darfur<\/a>. | Spanish Prime Minister <a target=\"_blank\" href=\"https:\/\/www.politico.eu\/article\/pedro-sanchez-stays-prime-minister-spain\/\" style=\"\" rel=\"noopener\">Pedro S\u00e1nchez is not resigning<\/a>. | The <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6c115d61-7948-457e-ace9-f65c3cbb6ee9\" style=\"\" rel=\"noopener\">FT\u2019s obsession with Chinese spies<\/a>&nbsp;continues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SIGN OF THE TIMES- All Dubai government entities will appoint chief AI officers <\/strong>as part of a new AI blueprint aimed at adding AED 100 bn from digital transformation to the emirate\u2019s economy, according to an <a target=\"_blank\" href=\"https:\/\/twitter.com\/HamdanMohammed\/status\/1784933169772269721\" style=\"\" rel=\"noopener\">X post<\/a> by Dubai Crown Prince Sheikh Hamdan bin Mohammed. The blueprint will also see the emirate introduce a comprehensive program geared towards attracting data centers, AI company licenses, as well as AI incubators, the crown prince said, without disclosing further details. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/blackrock\/\">BlackRock<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gigaprojects\/\">Gigaprojects<\/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\" 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                 \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\/30\/of-modular-gigaprojects-and-a-30-year-timeline-to-rebuild-gaza\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2151.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85657\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/of-modular-gigaprojects-and-a-30-year-timeline-to-rebuild-gaza\/2151-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2151.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2151.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2151.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2151.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85656\" class=\"content-area-description single-story post-85656 post type-post status-publish format-standard has-post-thumbnail hentry category-spotlight tag-world-economic-forum 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\/5\/.42a1bfcc-c568-4a89-9733-acca701d74f4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The World Economic Forum\u2019s (WEF) special meeting in Riyadh wrapped up <\/strong><strong>yesterday&nbsp;<\/strong>with top government officials, public figures and industry leaders talking about private sector activity in a fragmented world, non-oil growth in the midst of regional tensions, and cost-efficient energy policies in emerging markets. We have the full rundown on day two of the event headlined \u201cGlobal Collaboration, Growth, and Energy for Development.\u201d<\/p>\n<p class=\"tag-border-left\">GIGAPROJECTS ARE \u201cMODULAR\u201d-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More reassurances on Neom: <\/strong>Gigaprojects will be delivered at their intended scale in a way that satisfies the market and investors \u2014 and ensures optimal economic growth for the Kingdom, Economy and Planning Minister Faisal Alibrahim told Bloomberg (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-04-29\/saudi-2030-plan-solid-as-non-oil-economy-grows-minister\" style=\"\" rel=\"noopener\">watch, runtime: 7:49<\/a>) amid reports of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d415e8f0-fa26-473b-acf6-0a2208bd6637\/\" style=\"\" rel=\"noopener\">slower buildout of Neom<\/a>. Nodding to the significant investment the projects would require, he said the government is being cautious not to \u201coverheat\u201d the economy to fund the projects. \u201cWe don\u2019t want to deliver these projects at the cost of importing too much against our own interests,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cAll projects are moving full steam ahead,\u201d <\/strong>Alibrahim said. \u201cWe set out to do something unprecedented and we\u2019re doing something unprecedented and we will deliver something that is unprecedented,\u201d he said. \u201cFor Neom, the intended scale is continuing as planned. There is no change in scale, it\u2019s a long-term project that\u2019s modular in design,\u201d he said.<\/p>\n<p class=\"tag-border-left\">STRONG SAUDI = STRONG MIDEAST-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Geopolitical tensions are not directly impacting Saudi growth or transformation plans<\/strong>, Alibrahim said. \u201cBut we are now more integrated into the global community. We don't want things that are happening in Europe or anywhere in the world or in the Middle East to impact that. If we continue our journey with this transformation, we will be in a stronger position to help the region around us. <strong>A stronger Saudi is a stronger Middle East. A stronger stable Middle East is better for the global economy<\/strong>,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Finance Minister Mohamed Al Jadaan said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a2fddbf3-6f07-42c5-a909-bf47af342a97\/here%25e2%2580%2599s-what-you-need-to-know-about-day-one-of-the-world-economic-forum%25e2%2580%2599s-special-meeting-in-riyadh\" style=\"\" rel=\"noopener\">earlier this week<\/a> that geopolitical tensions are endangering the global growth outlook explaining that \u201cgeopolitical risks are possibly the number one risk as you look at the global economy.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A growing non-oil sector would help accelerate its diversification strategy<\/strong>, Alibrahim told CNBC (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/video\/2024\/04\/29\/saudi-arabiaas-focus-is-on-non-oil-growth-and-momentum-is-strong-economy-minister-says.html?&amp;qsearchterm=Saudi\" style=\"\" rel=\"noopener\">watch, runtime: 5:41<\/a>). \u201cOur non-oil growth has been growing steadily with 5.9% in 2022 and 4.4% in 2023. The IMF is forecasting 5.0% and 5.1% this year and the next. We believe this will help us continue our diversification story in an accelerated format\u201d he said. The non-oil economy accounted for 50% of total real GDP last year, he said, a new high water mark.<\/p>\n<p class=\"tag-border-left\">A VISION POST-2030?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But what comes after Vision 2030? <\/strong>\u201cThis is a long term journey. Vision 2030 is a blueprint for us to accelerate diversification, kick up human capital development, and build strong institutions,\u201d Alibrahim told Bloomberg. When asked whether there would be a blueprint beyond 2030, he said \u201cyes.\u201d<\/p>\n<p class=\"tag-border-left\">30 YEARS TO REBUILD GAZA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\u201c<strong>It will take 30 years to rebuild Gaza, 15 years potentially just to remove the rubble<\/strong>,\u201d Foreign Minister Prince Faisal bin Farhan said in a separate panel titled \u201cMiddle East under stress\u201d (<a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/special-meeting-on-global-collaboration-growth-and-energy-for-development-2024\/sessions\/middle-east-under-stress\/\" style=\"\" rel=\"noopener\">watch, runtime: 52:20<\/a>). \u201cAnd that\u2019s just the physical infrastructure, nevermind the tremendous trauma that has now been formed in the civilians of Gaza that is now impacting civilians in the West Bank,\u201d he said. He stressed the necessity of a \u201ccredible pathway to a Palestinian state\u201d to \u201cbe able to talk about a sustainable pathway to stability and security for Israel.\u201d<\/p>\n<p class=\"tag-border-left\">US SECURITY PACT \u201cVERY, VERY CLOSE\u201d-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi \u201cis very, very close\u201d to finalizing a security pact with the US<\/strong>, bin Farhan said. \u201cMost of the work has already been done. We have broad outlines on what needs to be done on the Palestinian front\u2026It needs to be truly a credible, irreversible path to a Palestinian state.\u201d His statements come after US Secretary of State Antony Blinken <a target=\"_blank\" href=\"https:\/\/www.voazimbabwe.com\/a\/blinken-us-saudi-security-pact-for-israel-normalization-close-to-completion-\/7589707.html\" style=\"\" rel=\"noopener\">said earlier<\/a> that the agreement between Washington and Riyadh is \u201cpotentially very close to completion.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The agreement sees Saudi and the US working together<\/strong> on bilateral defense, military commitments and nuclear technology in exchange for a Saudi-Israel normalization accord. \u201cTo move forward with normalization, two things will be required: calm in Gaza and a credible pathway to a Palestinian state,\u201d Blinken <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/us-secretary-state-antony-blinken-arrives-saudi-arabia-2024-04-29\/\" style=\"\" rel=\"noopener\">said<\/a>. It has been in jeopardy since the Israeli war against Gaza broke in October. <\/p>\n<p class=\"tag-border-left\">A \u201cREALISTIC\u201d ENERGY TRANSITION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s an urgent need for a \u201crealistic energy transition program<\/strong><strong> that is just and <\/strong><strong>inclusive and includes everybody,\u201d<\/strong> Aramco CEO Amin Nasser said in a separate panel, \u201cThe business case for the energy transition\u201d (<a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/special-meeting-on-global-collaboration-growth-and-energy-for-development-2024\/sessions\/the-business-case-for-the-energy-transition\/\" style=\"\" rel=\"noopener\">watch, runtime: 48:48<\/a>). \u201cWe need to understand very clearly that policy without technological readiness and without economic competitiveness is not going to drive a solution. Incentives will drive a solution but it\u2019s not sustainable,\u201d he said, highlighting rising demand for hydrocarbons against renewable energy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of Aramco:<\/strong> The state-owned oil giant is looking to invest in new types of energy outside Saudi, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-aramco-is-looking-investment-new-energies-outside-kingdom-ceo-says-2024-04-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a> quotes Nasser as saying. He did not provide further details. Aramco has been pushing into both conventional and renewable energy across the world in the past 12 months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi is setting<\/strong><strong> an example for a circular economy:<\/strong> The Kingdom has been able to rally international support for its push towards a circular economy and carbon capture, Energy Minister Abdulaziz bin Salman said, according to <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4281941\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%AA%D9%85%D9%83%D9%86%D9%86%D8%A7-%D9%85%D9%86-%D8%AA%D8%A3%D9%85%D9%8A%D9%86-%D8%AF%D8%B9%D9%85-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85-%D9%84%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF-%D8%A7%D9%84%D8%AF%D8%A7%D8%A6%D8%B1%D9%8A-%D9%84%D9%84%D9%83%D8%B1%D8%A8%D9%88%D9%86-%D9%81%D9%8A-%D9%81%D8%AA%D8%B1%D8%A9-%D9%82%D8%B5%D9%8A%D8%B1%D8%A9\/\" style=\"\" rel=\"noopener\">Mubasher<\/a>. Our carbon capture and storage facilities can process nearly half a mn tons of carbon, bin Salman said, urging other countries to follow with similar initiatives. <\/p>\n<p class=\"tag-border-left\">PRIVATE SECTOR SENTIMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s emerging consensus on a sense of \u201ccautious optimism,\u201d<\/strong> WEF Managing Director Saadia Zahidi <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/agenda\/2024\/04\/specialmeeting24-day-2-what-to-know\/\" style=\"\" rel=\"noopener\">said on the wave of optimism<\/a> overtaking private sector sentiment against a backdrop of globally divergent needs. During a panel titled \u201cInvesting amid global facture\u201d yesterday, BlackRock CEO Larry Fink also echoed the same message of positivity regarding fiscal stimulus. \u201cThe amount of innovation that we are witnessing right now is going to create an incredibly large \u2026 investment cycle.\u201d he said (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=AjABXf8Z6yE\" style=\"\" rel=\"noopener\">watch, runtime: 0:40<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On mending a fractured global economy:<\/strong> Olayan CEO Lubna Olayan highlighted the importance of transparency in mending the currently fractured global economy. \u201c<strong>The key thing for investors is transparency, rule of law, and that rules are applied to everyone equally<\/strong>,\u201d she said (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=vMD2UHwygNo\" style=\"\" rel=\"noopener\">watch, runtime: 0:59<\/a>). \u201cEvery country needs to find its own way.\u201d she said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The key takeaway: \u201cWe are in a paradigm shift.<\/strong> There are still investment [possibilities]. And developing countries will need to work differently to attract them,\u201d Zahidi said.<\/p>\n<p class=\"tag-border-left\">ACWA HAS USD 10 BN FOR MALAYSIA?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Renewables energy giant Acwa Power plans to invest USD 10 bn in Malaysia <\/strong>over the next decade, Malaysian state news agency Bernama reported, citing statements by chairman Mohammed Abunayyan. The proposed \u201cenergy projects\u201d in Malaysia will be implemented with Malaysian integrated renewable energy provider Cypark Resources. Talks on the plan are set to be finalized by the end of the year, Cypark Resources executive chair Datuk Ami Moris was <a target=\"_blank\" href=\"https:\/\/themalaysianreserve.com\/2024\/04\/29\/saudi-based-acwa-power-keen-on-investing-over-us10b-in-malaysia\/\" style=\"\" rel=\"noopener\">quoted as saying<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cAcwa Power, one of the world\u2019s largest renewable energy companies, is keen on investing in Malaysia, implementing technology transfer and sharing its renewable energy expertise for industrial parks in Jasin, Melaka, and Kerian, Perak, to power up green data centers,\u201d Moris said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Saudi Space Agency signed an agreement with the World Economic Forum to set <\/strong><strong>up a Centre for Space Futures<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/press\/2024\/04\/saudi-arabia-to-launch-a-centre-for-space-futures-in-the-forum-s-fourth-industrial-revolution-network\/\" style=\"\" rel=\"noopener\">statement<\/a>. The center, set to open later this year, aims to \u201cfacilitate public-private discussions on space collaboration\u201d to help accelerate technologies, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The WEF\u2019s open innovation platform Uplink will help provide Saudi early-stage <\/strong><strong>startups with advanced technologies<\/strong> to help \u201creduce, recycle and remove carbon from the atmosphere,\u201d according to a <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/press\/2024\/04\/uplink-challenges-start-ups-to-present-ground-breaking-technology-solutions-to-advance-a-net-zero-economy\/\" style=\"\" rel=\"noopener\">statement<\/a>. They also launched a competition for local startups to help source technology to preserve marine diversity among other initiatives.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/world-economic-forum\/\">World Economic Forum<\/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=\"85658\" 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=\"85658\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/miahona-ipo-could-raise-as-much-as-sar-555-5-mn\/\">\r\n                            Water treatment company Miahona sets the price range for its main market Tadawul IPO                        <\/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\/30\/miahona-ipo-could-raise-as-much-as-sar-555-5-mn\/\" 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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Bankers will wrap up the marketing of the institutional tranche this coming Thursday (2 May). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IPO values the Riyadh-based water treatment company at as much as SAR 1.8 bn<\/strong>, according to Enterprise calculations, after advisors on the transaction announced an indicative price range of<strong> SAR 10.5-11.5 per share<\/strong>, they said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83Z29TAwC_Rx9DSxdLY0MDAz1w_Wj9KOQlRgEB5gaBLoF-Br7GAQZuBuYQRUY4ACOBvoF2dmBAERHA9g!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFSklLSUtVUW9ncFJJa0EhIS9ZUFVFQUFBSUlFTUVDS0lFQUdJR09JT0lCSkZKRkJKTkROREJORUxMSEhQSFBMSEFnb2dvckFzQ0FBISEvNEpDaWpLMWJHTGppRUVwTWhUVlVrNUNpbXBwektETmJ0WmJPYW5tdDJzdGd0U0txb3lRIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9lbi9jb21wYW55U3ltYm9sLzEwMDUvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5NjM1\/\" style=\"\" rel=\"noopener\">a statement to<\/a><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83Z29TAwC_Rx9DSxdLY0MDAz1w_Wj9KOQlRgEB5gaBLoF-Br7GAQZuBuYQRUY4ACOBvoF2dmBAERHA9g!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFSklLSUtVUW9ncFJJa0EhIS9ZUFVFQUFBSUlFTUVDS0lFQUdJR09JT0lCSkZKRkJKTkROREJORUxMSEhQSFBMSEFnb2dvckFzQ0FBISEvNEpDaWpLMWJHTGppRUVwTWhUVlVrNUNpbXBwektETmJ0WmJPYW5tdDJzdGd0U0txb3lRIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9lbi9jb21wYW55U3ltYm9sLzEwMDUvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5NjM1\/\" style=\"\" rel=\"noopener\">Tadawul<\/a>. The guidance indicates the IPO could raise as much as SAR 555.5 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:<\/strong> After the institutional subscription closes, bankers will set the offering\u2019s final price, initiating a two-day subscription process for the retail tranche which is slated to start on Tuesday, 21 May, the statement reads. The final step before ringing the bell in the exchange involves refunding any excess subscription fees on Thursday, 30 May. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The sole owner of Miahona \u2014 <a target=\"_blank\" href=\"https:\/\/visioninvest.com\/en\/\" style=\"\" rel=\"noopener\">Vision Invest<\/a> \u2014 will offload a 30% stake on main market Tadawul in secondary share sale, and its shares will remain locked up for six months from the first trading day, it said when it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1d76fa50-9aa2-4166-875f-2d6f8737e79a\/\" style=\"\" rel=\"noopener\">released its prospectus<\/a> last week. The selling shareholder will take home the proceeds from the offering after paying an estimated SAR 28 mn in fees associated with the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Our friends at <strong>EFG Hermes KSA <\/strong>are quarterbacking the transaction as financial advisor, bookrunner, and underwriter, along with <strong>Saudi Fransi Capital (SFC)<\/strong> which is also separately acting as the lead manager. <strong>SFC <\/strong>and <strong>Riyad Bank <\/strong>are receiving agents. <strong>Latham &amp; Watkins <\/strong>is acting as legal counsel, while <strong>PwC<\/strong> is financial due diligence advisor, <strong>KPMG<\/strong> are serving as auditors, and <strong>Arthur D. Little<\/strong> as market consultant.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/miahona\/\">Miahona<\/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=\"85660\" 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=\"85660\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/saudi-manpower-solutions-issues-a-prospectus-for-its-tadawul-ipo\/\">\r\n                            Saudi Manpower Solutions is gearing up to go public in secondary share sale                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/saudi-manpower-solutions-issues-a-prospectus-for-its-tadawul-ipo\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/saudi-manpower-solutions-issues-a-prospectus-for-its-tadawul-ipo\/')\">\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\/30\/saudi-manpower-solutions-issues-a-prospectus-for-its-tadawul-ipo\/\">\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=Saudi Manpower Solutions issues a prospectus for its Tadawul IPO&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/saudi-manpower-solutions-issues-a-prospectus-for-its-tadawul-ipo\/\">\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\/30\/saudi-manpower-solutions-issues-a-prospectus-for-its-tadawul-ipo\/&title=Saudi Manpower Solutions issues a prospectus for its Tadawul IPO\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Saudi+Manpower+Solutions+issues+a+prospectus+for+its+Tadawul+IPO+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F30%2Fsaudi-manpower-solutions-issues-a-prospectus-for-its-tadawul-ipo%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\/30\/saudi-manpower-solutions-issues-a-prospectus-for-its-tadawul-ipo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2140.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85661\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/saudi-manpower-solutions-issues-a-prospectus-for-its-tadawul-ipo\/2140-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2140.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2140.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2140.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2140.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85660\" class=\"content-area-description single-story post-85660 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-capital-markets tag-enterpriseam-ksa tag-ipo-watch 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\/.235e27bf-4236-41d2-8ee1-abb776289877.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi Manpower Solutions (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.smasco.com\/en\/\" style=\"\" rel=\"noopener\">Smasco<\/a><\/strong><strong>) plans to take a 30% stake to market <\/strong><strong>through a <\/strong><strong>secondary share sale of 120 mn shares on the main market Tadawul<\/strong>, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/2105.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a>. The recruitment company is yet to set a price range for the IPO.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Institutional investors will provisionally be able to subscribe to 100% of the offering\u2019s shares, while the financial advisor has the right to allocate 10% of the offering to retail investors \u201cif there is sufficient demand.\u201d Each institutional investor can subscribe to up to 20 mn shares and a minimum of 100k shares, while each individual investor can subscribe to a maximum of 2 mn and a minimum of 10 shares.<\/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 Riyadh-based company\u2019s selling shareholders will take the transaction\u2019s proceeds home after covering transaction-related expenses \u2014 estimated at SAR 45 mn. All the proceeds will be divided between the selling shareholders on a pro rata basis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meet <\/strong><strong>Smasco:&nbsp;<\/strong>The company provides recruitment solutions covering the full hiring cycle from contracting to facilitating the issuance of residency, driving license and medical and social ins. documents. The Riyadh-based company also helps businesses and the public sector hire on short-term contracts for seasonal jobs through a service it calls \u201cmawsemiah.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The investment case: <\/strong>Smasco is asset light, has digitized its operations, and runs with no debt. It is a \u201cfirst-mover in the industry,\u201d the prospectus claims, \u201c introducing on-demand hourly services, advanced mobile applications, dynamic pricing models, specialised services and strategic licensing and branding initiatives.\u201d It serves both corporate and individual demand and is positioned to grow as the government looks to create the conditions for 2 mn new jobs through 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>Smasco\u2019s top line was largely unchanged in 9M 2023 compared to the same year last year and its profit from ongoing operations declined 30% to SAR 121 mn, the prospectus says, citing reviewed (not audited) financial statements. <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/financial-reports\/company-report\/16903\/2023\/1\" style=\"\" rel=\"noopener\">Argaam<\/a> separately reports that Smasco\u2019s net income rose 10.7% y-o-y to SAR 166.3 mn in 2023, while its revenues dipped 0.7% y-o-y to SAR 1.8 mn,.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Smasco has five subsidiaries <\/strong>including tech-focused VC Saneem Investment Company, Saudi Logistics Services Company, Terhab Customer Experience, Romoz Development For Communications and Information Technology, and it is a 100% indirect shareholder in the Business Solutions Center. The company\u2019s website says it has facilitated the recruitment of 160k workers at 4k entities across the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shareholding structure: <\/strong>Majority shareholder <a target=\"_blank\" href=\"https:\/\/ahamh.com\/?lang=en\" style=\"\" rel=\"noopener\">Al Holoul Al Mutakamela Holding<\/a> will hold a 47.8% stake in the company after the offering, down from 70%, Rafid Advanced Investments Company\u2019s shareholding will inch down to 4.8% (from 7.5% before the offering), while Mohammed Abdulaziz All Habib and Sons Holding Company and Al Masa Real Estate Company will each holding 3.5% (down from 5.0% each) after the offering. The selling shareholders will not be able to execute any transactions on their shares for a period of six months starting from the first trading day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The timeline:<\/strong><\/p>\n<ul>\n<li><strong>Institutional investors <\/strong>will be able to place their orders starting on Wednesday, 8 May, until Tuesday, 14 May;<\/li>\n<li>The two-day<strong> retail subscription <\/strong>process is slated to start on Sunday, 26 May;<\/li>\n<li>Final allocation of the offering\u2019s shares will take place on Monday, 3 June;<\/li>\n<li>Any excess subscription fees will be refunded by Monday, 10 June.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- SNB Capital <\/strong>is quarterbacking the transaction as the sole lead manager, financial advisor, bookrunner, and underwriter. <strong>STAT Law Firm<\/strong> is legal advisor, <strong>Ernst &amp; Young Professional Services<\/strong> is the financial due diligence advisor, and <strong>Arthur D. Little Saudi Arabia<\/strong> is acting as market consultant. The receiving agents are <strong>SNB<\/strong>, <strong>SNB Capital <\/strong>and <strong>Al Rajhi Bank<\/strong>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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=\"85662\" 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=\"85662\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/normalization-with-israel-brownie-points-for-biden\/\">\r\n                            Biden could get Republican support from mediating a Saudi-Israeli normalization agreement                        <\/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\/30\/normalization-with-israel-brownie-points-for-biden\/\" 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\/30\/normalization-with-israel-brownie-points-for-biden\/')\">\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\/30\/normalization-with-israel-brownie-points-for-biden\/\">\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=Normalization with Israel = brownie points for Biden&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/normalization-with-israel-brownie-points-for-biden\/\">\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\/30\/normalization-with-israel-brownie-points-for-biden\/&title=Normalization with Israel = brownie points for Biden\">\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=Normalization+with+Israel+%3D+brownie+points+for+Biden+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F30%2Fnormalization-with-israel-brownie-points-for-biden%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\/30\/normalization-with-israel-brownie-points-for-biden\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1831.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85663\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/normalization-with-israel-brownie-points-for-biden\/1831-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1831.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1831.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1831.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1831.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85662\" class=\"content-area-description single-story post-85662 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-economy tag-enterpriseam-ksa tag-saudi-in-the-news tag-saudi-us-relations wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.97fae603-6ceb-46cd-a742-5096b1e5cba9.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A US-mediated Saudi-Israeli normalization agreement would ensure some Republican <\/strong><strong>support for US President Joe Biden in the upcoming presidential elections<\/strong>, Senator Lindsey Graham <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/04\/28\/politics\/lindsey-graham-saudi-arabia-biden-cnntv\/index.html\" style=\"\" rel=\"noopener\">told CNN<\/a>. \u201cIf we can get [an agreement] between Saudi Arabia and Israel, it ends the Arab-Israeli conflict, it isolates the Iranians, it creates some hope for the Palestinians, it provides security in a real way to Israel,\u201d the South Carolina Republican said. The story also got ink from <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/04\/28\/lindsey-graham-saudi-arabia-israel-biden-00154831\" style=\"\" rel=\"noopener\">Politico<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Graham \u2014 who has emerged as something akin to an informal partner of White House negotiators with Saudi officials \u2014 met with Crown Prince Mohammad Bin Salman <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b5f48c50-ad80-4ece-9504-f56787163bee\/king-salman%25e2%2580%2599s-checkup-%2B-lindsey-graham-are-driving-the-conversation-on-saudi-in-the-global-press\" style=\"\" rel=\"noopener\">late last month<\/a> to discuss normalizing diplomatic relations between the Kingdom and Israel.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-us-relations\/\">Saudi-US relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85664\" 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=\"85664\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/edfapay-gets-license-to-operate-in-tunisia-plus-debt-earnings-and-islamic-finance\/\">\r\n                            EdfaPay gets license to operate in Tunisia. Plus: debt, earnings, and Islamic finance                        <\/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\/30\/edfapay-gets-license-to-operate-in-tunisia-plus-debt-earnings-and-islamic-finance\/\" 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\/30\/edfapay-gets-license-to-operate-in-tunisia-plus-debt-earnings-and-islamic-finance\/')\">\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\/30\/edfapay-gets-license-to-operate-in-tunisia-plus-debt-earnings-and-islamic-finance\/\">\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=EdfaPay gets license to operate in Tunisia. Plus: debt, earnings, and Islamic finance&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/edfapay-gets-license-to-operate-in-tunisia-plus-debt-earnings-and-islamic-finance\/\">\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\/30\/edfapay-gets-license-to-operate-in-tunisia-plus-debt-earnings-and-islamic-finance\/&title=EdfaPay gets license to operate in Tunisia. Plus: debt, earnings, and Islamic finance\">\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=EdfaPay+gets+license+to+operate+in+Tunisia.+Plus%3A+debt%2C+earnings%2C+and+Islamic+finance+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F30%2Fedfapay-gets-license-to-operate-in-tunisia-plus-debt-earnings-and-islamic-finance%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\/30\/edfapay-gets-license-to-operate-in-tunisia-plus-debt-earnings-and-islamic-finance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85664\" class=\"content-area-description single-story post-85664 post type-post status-publish format-standard hentry category-also-on-our-radar tag-al-rajhi-bank tag-also-on-our-radar tag-saudi-national-bank 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\/5\/.99067eb9-3256-43c2-ac86-65f37cddbcd1.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">STARTUP WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Local fintech outfit EdfaPay has obtained the licenses it needs to operate in <\/strong><strong>Tunisia starting in May <\/strong>through its Tunisian financial payment solutions arm WePay, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/2065.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The expansion will help provide integrated payment solutions in Tunisia, it said. The Riyadh-based fintech will announce \u201cmany signed contracts with clients from Tunisia and Morocco\u201d in May, it said, without providing further details. EdfaPay CEO and Founder Ghormallah Al Ghamdi said the launch will help EdfaPay \u201copen new doors to our uttermost goal of worldwide expansion.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>EdfaPay <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7df2bfaa-cbe9-467f-a5c6-5369d023c410\/cenomi-centers-redeems-another-fcy-sukuk.-plus:-news-from-first-mills,%253cmark%253e-edfapay%253c%2Fmark%253e,-roshn,-and-more\" style=\"\" rel=\"noopener\">received accreditation<\/a> from leading global payments network Discover Global Network in March, paving the way for expansion into new markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About EdfaPay:<\/strong> Set up in 2022, EdfaPay is a fintech company that uses software point of sale (softPoS) and payment gateway services for online and offline merchants. It raised <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2022\/02\/saudi-fintech-edfapay-raises-16-million-pre-seed-round\" style=\"\" rel=\"noopener\">USD 1.6 mn<\/a> in a pre-seed round to help boost its progressive softPoS technology, which allows merchants accept card payments directly through their phones. It also <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2314296\/business-economy\" style=\"\" rel=\"noopener\">raised USD 3.2 mn<\/a> last year in a seed round to help fuel its expansion overseas.<\/p>\n<p class=\"tag-border-left\">DEVELOPMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The International Islamic Trade Finance Corporation (Itfc) plans to add to its <\/strong><strong>portfolio of projects with over 40 agreements <\/strong>to be signed during its ongoing Islamic Development Bank (IsDB) annual meetings in Riyadh, its CEO Hani Sonbol told <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/04\/28\/article_2721936.html\" style=\"\" rel=\"noopener\">Aleqisadiah<\/a> on the sidelines of the annual meetings. He did not provide a figure on the total funding that the bank, which is a member of the IsDB, intends to allocate for the fresh agreements. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some of the agreements include a USD 250 mn murabaha facility with African <\/strong><strong>Export-Import Bank (Afreximbank)<\/strong> to support the bank\u2019s trade finance activities, Sonbol said. The bank also signed a USD 150 mn agreement with Uganda to support sectors including energy, agriculture and others, he added. A USD 40 mn murabaha agreement between the Itfc and the Trade and Development Bank to facilitate trade between Eastern and Southern Africa was also signed, according to Sonbol. <\/p>\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul-listed Middle East Specialized Cables Company has secured a one-year SAR 100 <\/strong><strong>mn <\/strong><strong>sharia-compliant credit facility from Al Rajhi Bank<\/strong> to finance its working capital, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMjY3EA_ODVPvyA3NMIgMyA3XNdREQA-wDKp\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTYyNi9jb21wYW55U3ltYm9sLzIzNzAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a statement to Tadawul<\/a>. <\/p>\n<p class=\"tag-border-left\">EARNINGS WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Al Rajhi Bank\u2019s net income rose 6.3% y-o-y to SAR 4.4 bn in 1Q 2024<\/strong>, fueled by an increase in net financing and investment income, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyNDQyEA_ODVPvyA3NMIgMyA3XNdREQDruWgm\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTYzNi9jb21wYW55U3ltYm9sLzExMjAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. Meanwhile, revenues rose 6.6% to SAR 7.2 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Saudi National Bank\u2019s net income rose 0.4% y-o-y to SAR 5.0 bn in 1Q 2024<\/strong>, and revenues inched up 2% y-o-y to SAR 8.9 bn, according to <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-oyNDQwkC_IDc0wiAzIDfcUVERALKJuJs!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTYyOS9jb21wYW55U3ltYm9sLzExODAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a statement to Tadawul<\/a>.<\/p>\n<p class=\"tag-border-left\">WASTEWATER TREATMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Drake &amp; Scull subsidiary to expand Khobar\u2019s wastewater treatment plant<\/strong><strong>: <\/strong>Wastewater treatment technology provider Passavant Energy and Environment \u2014 a subsidiary of UAE-based contractor Drake and Scull International \u2014 was awarded a project to design and build an expanded wastewater treatment plant in Al Khobar with a capacity of 200k cubic meters per day, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/passavant-energy-and-environment-a-subsidiary-of-drake-and-scull-acquires-a-project-to-design-and-build-a-wastewater-treatment-plant-in-saudi-arabia-y4bwhivb\" style=\"\" rel=\"noopener\">statement<\/a>. The project, valued at SAR 789 mn (USD 215 mn), was awarded to Passavant along with an unnamed local contractor. Passavant\u2019s subcontract was valued at USD 48 mn, the statement said. No timeline for the project was disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Scope of work: <\/strong>The contract includes the design and technology of a process to convert waste into energy. It also includes a terminal pumping station, heavy waste treatment tanks, water distribution pipelines and other components. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-rajhi-bank\/\">Al Rajhi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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\/saudi-national-bank\/\">Saudi National Bank<\/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=\"85665\" 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=\"85665\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/arqaam-bullish-on-saudi-growth-tips-listed-banks\/\">\r\n                            Arqaam Capital is bullish on Saudi and UAE growth, tips listed banks                        <\/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\/30\/arqaam-bullish-on-saudi-growth-tips-listed-banks\/\" 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\/30\/arqaam-bullish-on-saudi-growth-tips-listed-banks\/')\">\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\/30\/arqaam-bullish-on-saudi-growth-tips-listed-banks\/\">\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=Arqaam bullish on Saudi growth, tips listed banks&url=https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/arqaam-bullish-on-saudi-growth-tips-listed-banks\/\">\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\/30\/arqaam-bullish-on-saudi-growth-tips-listed-banks\/&title=Arqaam bullish on Saudi growth, tips listed banks\">\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=Arqaam+bullish+on+Saudi+growth%2C+tips+listed+banks+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F04%2F30%2Farqaam-bullish-on-saudi-growth-tips-listed-banks%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\/30\/arqaam-bullish-on-saudi-growth-tips-listed-banks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2164.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85666\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/arqaam-bullish-on-saudi-growth-tips-listed-banks\/2164-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2164.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2164.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2164.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2164.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85665\" class=\"content-area-description single-story post-85665 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.26377231-3a22-4e2c-94b6-9f2142ea1d8b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arqaam Capital is bullish about Saudi and UAE growth:<\/strong> Saudi Arabia and the UAE are expected to see strong growth this year, Arqaam Capital\u2019s Equities Research Head Jaap Meijer told Bloomberg TV <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-04-29\/arqaam-s-meijer-on-uae-saudi-growth-prospects-video\" style=\"\" rel=\"noopener\">(watch, runtime: 4:44)<\/a>. Meijer pointed to aviation, oil and gas services, healthcare, and infrastructure as his big picks for what will drive growth this year, pointing out that new contracts and infrastructure developments, including the construction of the new <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9f47e051-fbaf-4d95-aa2a-9ac46f2506f5\/al-maktoum-airport-expansion-plans-are-back-on-track\" style=\"\" rel=\"noopener\">terminal at Al Maktoum airport<\/a>, are creating additional growth potential.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Equities are going to do well \u2014 and we\u2019ll have banks to thank:<\/strong> Banks in Saudi and the UAE can expect to maintain healthy margins amid a persistent high interest rate environment, which Meijer said \u201cis highly positive on top of very buoyant balance sheet growth.\u201d Some UAE banks are filling a liquidity gap in the Saudi market, which is also helping to stimulate lending growth.<\/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>FURTHER AFIELD- Morgan Stanley, fresh off the Reddit and Astera Labs IPOs, says it expects <\/strong><strong>10-15 more US tech listings this year<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/04\/29\/morgan-stanley-sees-10-to-15-more-tech-ipos-in-2024-better-2025.html\" style=\"\" rel=\"noopener\">CNBC<\/a> reports, with the company\u2019s global head of technology equity capital markets saying that 2025 could be an \u201ceven better year.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The turnaround: <\/strong>A good 2024 and 2025 would snap turn things around for tech offerings after a \u201clull began in 2022, when soaring inflation and rising interest rates pushed investors out of risk, slashed tech valuations and led many tech companies to delay their plans to go public,\u201d the broadcaster says.<\/p>\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 up this morning<\/strong>, led by the Nikkei as trading in Japan resumed after yesterday\u2019s holiday. Major Asian benchmarks were following Wall Street up \u2014 the Dow and S&amp;P 500 closed up slightly yesterday, while the Nasdaq was basically flat. US and European equities futures were little changed overnight. <\/p>\n<p><a target=\"_blank\" id=\"t.f36c337c16207dbc9e8a534691d506e3d6288e41\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,369.5<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: +3.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,569.8<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.6% (YTD: +19.1%)<\/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\">26,228<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.01% (YTD: +6.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Buy<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Sell<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6.5% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,011.3<\/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\">+5.6% (YTD: +4.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,063.3<\/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: -5.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,160.7<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +2.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,102.2<\/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\">+0.04% (YTD: +7.2%)<\/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>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\">8,147<\/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: +5.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,981.1<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +10.2%)<\/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\">88.5<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1%<\/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\">2.04<\/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\">+5.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">2,346.1<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1%<\/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>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\">62,614.6<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.8% (YTD: +49.3%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI rose 1.1% <\/strong><strong>yesterday <\/strong>on turnover of SAR 8.2 bn. The index is up 3.4% 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> MBC Group (+9.9%), AlBaha (+7.7%) and SPM (+7.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>SSP (-9.3%), Chubb (-4.2%) and Riyadh Cables (-4%).<\/p>\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong> fell 0.01% <strong>yesterday&nbsp;<\/strong>on turnover of SAR 52.3 mn. The index is up 6.9% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Mayar (+19.4%), Osool and Bakheet (+15%) and Ladun (+7.5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Group Five (-6%), AlBabtain Food (-5.3%) and AlMuneef (-5.1%)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    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\u201cextraordinarily generous\u201d Israeli proposal on truce                        <\/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\/30\/crown-prince-blinken-talk-gaza-as-us-official-urges-hamas-to-accept-extraordinarily-generous-israeli-proposal-on-truce\/\" 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=\"#\" 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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2154.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2154.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85667\" class=\"content-area-description single-story post-85667 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-antony-blinken tag-crown-prince tag-diplomacy tag-enterpriseam-ksa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.7ea0cf58-25f5-4fe1-bf51-268f599a93b2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>All about Gaza in Riyadh:<\/strong> Crown Prince and Prime Minister Mohammed bin Salman discussed exerted efforts to halt Israeli military operations against Gaza during a meeting with US Secretary of State Antony Blinken, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2093282\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. The meeting, held on the sidelines of the WEF special meeting in Riyadh, also discussed bilateral ties and joint cooperation. They also discussed the urgent necessity to reduce tensions in the region, according to a <a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-blinkens-meeting-with-saudi-crown-prince-and-prime-minister-mohammed-bin-salman-al-saud-in-riyadh-2\/\" style=\"\" rel=\"noopener\">statement by the US State Department.<\/a><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What went down throughout the day:<\/strong> Blinken urged Hamas to accept a \u201cextraordinarily, extraordinarily generous\u201d Israeli proposal for a ceasefire in Gaza, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/us-secretary-state-antony-blinken-arrives-saudi-arabia-2024-04-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported. \"The only thing standing between the people of Gaza and a ceasefire is Hamas. They have to decide and they have to decide quickly,\" he said. \"I'm hopeful that they will make the right decision.\" His statements come as Egyptian and Qatari negotiators are set to meet with representatives of Hamas for a response on the phased Israeli proposal which sees the release of fewer than 40 of the 130 hostages held by the Palestinian group in exchange for the release of Palestinians from Israeli jails.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US has seen \u201cmeasurable progress\u201d in the humanitarian crisis in Gaza<\/strong> in the last few weeks, yet more needs to be done by Israel, <a target=\"_blank\" href=\"https:\/\/www.xm.com\/ar\/research\/markets\/allNews\/reuters\/blinken-says-measurable-progress-on-gaza-humanitarian-situation-in-recent-weeks-53824607\" style=\"\" rel=\"noopener\">Reuters<\/a> reported, citing statements by Blinken. Speaking at the US-GCC ministerial meeting attended by Foreign Minister Prince Faisal bin Farhan in Riyadh, Blinken stressed on the urgency of a ceasefire to help mitigate the humanitarian crisis in Gaza. He said that Washington has been exerting efforts to prevent the war from expanding, without providing further details. The joint meeting saw discussions on the developments in Gaza and Rafah and the importance of an immediate ceasefire, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2092751\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported. Blinken had earlier met separately with FM bin Farhan for talks on a ceasefire in Gaza, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2092713\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One more assurance on \u201cprogressing\u201d talks for a ceasefire:<\/strong> Negotiations on a ceasefire in Gaza were \u201cmoving forward,\u201d French Foreign Minister Stephane Sejourne told Reuters on the sidelines of the WEF meeting. \"Things are moving forward but you always have to be careful in these discussions and negotiations. The situation in Gaza is catastrophic and we need a ceasefire,\" he said. \"We will discuss the hostages, humanitarian situation and the ceasefire. Things are progressing, but we must always remain prudent in these discussions and negotiations.\" Sejourne added.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/antony-blinken\/\">Antony Blinken<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/crown-prince\/\">Crown Prince<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85669\" 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\/30\/85669\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85669\" class=\"content-area-description single-story post-85669 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;\">27-30 April (Saturday-Wednesday): Islamic Development Bank (IsDB) Group's 2024 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;\">28-30 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 (Monday-Wednesday): 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 (Tuesday-Thursday): 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 style=\"font-weight:400;\">14-15 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:400;\">27-28 May (Monday-Tuesday): Smart Data & AI Summit Saudi, JW Marriott Hotel, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">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;\">25-27 November (Monday-Wednesday): World Investment Conference, Riyadh.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-28 November (Tuesday-Thursday): Saudi Electricity Expo, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11-14 November (Monday-Thursday): Cityscape Global, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-13 December (Monday-Friday): Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2024:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">The AFC Champions League Elite<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10-13 February (Monday-Thursday): Leap 2025, the Kingdom\u2019s premier tech investment conference.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>WEF wrap-up | Smasco + Miahona IPOs | Neom\u2019s foreign investments | Talking peace | Arqaam Capital tips list banks<\/p>\n","protected":false},"featured_media":85652,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-85651","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"beae5d4e-3215-4dbe-afd8-b730605b645a","teaser":"WEF wrap-up | Smasco + Miahona IPOs | Neom\u2019s foreign investments | Talking peace | Arqaam Capital tips list banks","photo_url":"https:\/\/ent.news\/2024\/4\/2166.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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