{"id":85690,"date":"2024-05-01T00:00:00","date_gmt":"2024-05-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=85690"},"modified":"2025-12-14T17:59:07","modified_gmt":"2025-12-14T17:59:07","slug":"blackrock-hits-the-jackpot","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/blackrock-hits-the-jackpot\/","title":{"rendered":"BlackRock hits the jackpot"},"content":{"rendered":"<section id=\"85692\" 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=\"85692\">\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\/05\/01\/schools-are-remote-this-morning-as-rain-continues\/\">\r\n                            THIS MORNING: Schools are remote this morning as rain continues                        <\/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\/05\/01\/schools-are-remote-this-morning-as-rain-continues\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We have more rain and a chance of heavy thunderstorms in the forecast, per the national weather center. Time to fire up Madrasati and Rawdhati\u2026 Look for a high today of 27\u00b0C and a low overnight of 19\u00b0C. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- There\u2019s another storm moving into the UAE<\/strong>, sending schools there to remote learning tomorrow and Friday, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/03e8c281-a993-41c1-b91e-4baf7342c8e1\" style=\"\" rel=\"noopener\">EnterpriseAM UAE<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TODAY- The US Federal Reserve\u2019s open markets committee wraps up a <\/strong><strong>two-day meeting. <\/strong>Everyone and her cousin will be reading the sheep\u2019s entrails afterward in search of clues as to its current thinking on when rate cuts might begin. <\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- Tadawul Group will host the Hong Kong edition of its Capital Market Forum <\/strong><strong>next <\/strong><strong>Thursday, 9 May<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/global-cmf.com\/news-details\/saudi-tadawul-group-to-host-first-capital-markets-forum-in-hong-kong-with-hkex\" style=\"\" rel=\"noopener\">statement<\/a>. Headlined \u201cpowering connections,\u201d the two-day event is a partnership between Tadawul and the Hong Kong Stock Exchange (HKEX). You can find the <a target=\"_blank\" href=\"https:\/\/global-cmf.com\/#agenda\" style=\"\" rel=\"noopener\">agenda here<\/a> and <a target=\"_blank\" href=\"https:\/\/global-cmf.com\/registration-web\" style=\"\" rel=\"noopener\">registration form here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Top speakers <\/strong>at the first CMF event overseas in Hong Kong include Tadawul Group CEO <strong>Khalid Al Hussan,<\/strong> Saudi Exchange CEO <strong>Mohammed Al Rumaih<\/strong>, Capital Market Authority board member <strong>Abdulaziz bin Hassan<\/strong>, Deputy Investment Minister for Investment Development <strong>Saleh Al Khabti<\/strong> and others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART-<\/strong> Tadawul officials and other policymakers have been on a drive to build closer ties with China. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d68a2eb6-2f0d-4eb4-a958-a4eb0595b96f\" style=\"\" rel=\"noopener\">first Saudi exchange-traded fund in Asia<\/a> launched in Hong Kong this past December, PIF boss Yassir Al Rumayyan launched the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1cf6e512-02f8-4d9a-8422-73e99a9fecb5\" style=\"\" rel=\"noopener\">HK version of the Kingdom\u2019s flagship Future Investment Initiative conference<\/a> in December, and ministers attended a high-profile <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7c67021c-c2aa-4017-983d-ceb778ff8d5a\" style=\"\" rel=\"noopener\">China-Saudi investment conference<\/a> in Beijing saw MoUs worth SAR bns signed.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a><strong> #2- IPO WATCH- The IPO of healthcare outfit Qomel <\/strong><strong>on parallel<\/strong><strong> market Nomu was 2.75x <\/strong><strong>oversubscribed<\/strong>, its financial advisor, Watheeq Capital, said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83Z29TAwC_Rx9DSxdLY0MDAz1w_Wj9KOQlRgEB5gaBLoF-Br7GAQZuBuYQRUY4ACOBvoF2dmBAERHA9g!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFSklLSUtVUW9ncFJJa0EhIS9ZUFVFQUFBSUlFTUVDS0lFQUdJR09JT0lCSkZKRkJKTkROREJORUxMSEhQSFBMSEFnb2dvckFzQ0FBISEvNEpDaWpLMWJHTGppRUVwTWhUVlVrNUNpbXBwektETmJ0WmJPYW5tdDJzdGd0U0txb3lRIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9lbi9jb21wYW55U3ltYm9sLzExNjYvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5Njgw\/\" style=\"\" rel=\"noopener\">statement to Tadawul<\/a> yesterday. Qualified investors <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2e0fed0a-1af1-416b-ae84-47e03c18d759\" style=\"\" rel=\"noopener\">placed their orders<\/a> on 21-25 April at a set price of SAR 80 apiece. Qomel <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0211144f-6721-4388-955b-337053bec134\/qomel-plans-to-take-a-14%2525-stake-to-nomu\" style=\"\" rel=\"noopener\">is<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0211144f-6721-4388-955b-337053bec134\/qomel-plans-to-take-a-14%2525-stake-to-nomu\" style=\"\" rel=\"noopener\">offering<\/a> a 14.3% stake on Nomu.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:<\/strong> Watheeq Capital will complete procedures with Tadawul and then determine a date for Qomel\u2019s listing on Nomu.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds: <\/strong>Qomel will use proceeds from the offering to invest in growth, including a SAR 100 mn pharma manufacturing facility being built by fully owned subsidiary Qomel Factory Co. in Sudair Industrial City.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><strong>Miral Dental Group<\/strong><strong> has set guidance pricing of SAR 100 <\/strong><strong>per share<\/strong><strong> for its direct <\/strong><strong>listing on Nomu<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1723422\" style=\"\" rel=\"noopener\">Argaam<\/a> reported. Trading will be limited to qualified investors. Direct listings allow a company to list its shares on the exchange without having to issue fresh stock or raise funds. Instead, current shareholders can simply opt to start offering shares for sale after the company\u2019s stock is admitted to trading.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3- Hamburgini-related food poisoning under control:&nbsp;<\/strong>Half of the reported cases of food poisoning related to local burger joint Hamburgini have been released from hospital, the Health Ministry\u2019s spokesperson <a target=\"_blank\" href=\"https:\/\/twitter.com\/spokesman_moh\/status\/1785240826852839541\" style=\"\" rel=\"noopener\">said on X<\/a>. Hamburgini was indefinitely <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e59c67b4-c089-43e9-8edc-9fdb13d2fcfc\/blinken-due-in-town-as-world-economic-forum%25e2%2580%2599s-special-riyadh-meeting-gets-underway\" style=\"\" rel=\"noopener\">shut down<\/a> last week amid multiple reports of food poisoning. <\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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>Just a couple of stories are getting very wide play in the global business press <\/strong>on an otherwise very quiet Wednesday morning. It\u2019s a national holiday today from much of Europe (France, Germany, Italy, Spain, Sweden) to India, Korea, and Latin America in observance of labor day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Here\u2019s the rundown on what\u2019s making headlines:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Palace intrigue at HSBC: <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6f1ff561-8dac-4b2e-b377-436cafd29bb7\" style=\"\" rel=\"noopener\">Financial Times<\/a> has the best insider take we\u2019ve seen yet on the \u201cshock exit\u201d of Noel Quinn, the CEO of Europe\u2019s biggest bank. \u201cInside HSBC headquarters, the narrative is that it was impossible for both Quinn and group chair Mark Tucker to continue in their roles.\u201d Each effectively had a \u201cthree-year deadline\u201d to leave the lender at around the same time \u2014 and Tucker wanted to oversee the selection of the third CEO his board will work with. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Demand for artificial intelligence drove sales growth at Amazon\u2019s cloud division in 1Q <\/strong>\u2014 a fact you now know because every single news outlet from <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/28e3e064-df0f-4fc8-bb9c-1477f3ae125e\" style=\"\" rel=\"noopener\">the FT<\/a> and <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/earnings\/amazon-amzn-q1-earnings-report-2024-85bf00b1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-30\/amazon-reports-strong-cloud-unit-sales-on-rising-ai-demand\" style=\"\" rel=\"noopener\">Bloomberg<\/a> is leading with that story at the top of their homepages as we head to dispatch this morning. Germany\u2019s <a target=\"_blank\" href=\"https:\/\/www.handelsblatt.com\/technik\/it-internet\/quartalszahlen-amazon-enttaeuscht-mit-ausblick-cloud-sparte-schwaechelt\/100036203.html\" style=\"\" rel=\"noopener\">Handelsblatt<\/a> notes that both Google and Microsoft Azure (both admittedly smaller players) grew their AI cloud businesses twice as fast in the fourth quarter. <strong>Amazon\u2019s profit more than tripled<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/04\/30\/amazon-amzn-q1-earnings-report-2024.html\" style=\"\" rel=\"noopener\">comfortably ahead<\/a> of analyst expectations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#<\/strong><strong>3- Benjamin Netanyahu is signaling he will push ahead with a ground assault on Rafah <\/strong><strong>\u201cwith or without a deal.\u201d <\/strong>Speaking as Cairo-brokered ceasefire talks continued, Netanyahu said, \u201cThe idea that we will stop the war before achieving all of its goals is out of the question. We will enter Rafah and we will eliminate Hamas\u2019 battalions there \u2014 with or without a deal,\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ll know more tonight:<\/strong> Hamas is expected to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-30\/israel-won-t-join-truce-talks-until-hamas-responds-kan-says\" style=\"\" rel=\"noopener\">reply later today<\/a> to Israel\u2019s latest proposal and Israel says it\u2019s <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-30\/israel-won-t-join-truce-talks-until-hamas-responds-kan-says?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">not talking until it does<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Netanyahu\u2019s statement got a lot of attention on foreign press:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-iran-hamas-latest-04-30-2024-64a7c8736994e5ea282a8dbb674e0344\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/national\/2024\/04\/30\/israel-iran-hamas-latest-04-30-2024\/8a922c96-06c4-11ef-b60b-a512fc749f9b_story.html?ref=upstract.com\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-will-enter-rafah-with-or-without-gaza-hostage-deal-netanyahu-says-2024-04-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.politico.eu\/article\/israel-going-to-invade-rafah-regardless-of-hostage-deal-says-benjamin-netanyahu\/\" style=\"\" rel=\"noopener\">Politico<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/live\/2024\/apr\/30\/middle-east-crisis-live-biden-urges-egypt-qatar-release-israeli-hostages-ceasefire-talks-hamas\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/04\/29\/middleeast\/hamas-israel-ceasefire-proposal-cairo-talks-intl\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Pro-Palestinian protests on US college campuses \u2014 and heavy-handed responses to <\/strong><strong>them \u2014 are also getting plenty of ink. <\/strong>Columbia President Minouche Shafik is <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/us-news\/minouche-shafik-columbia-president-student-protests-spiral-68609268\" style=\"\" rel=\"noopener\">still under fire<\/a> from both sides, New York City is <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/us-news\/columbia-student-protesters-take-over-campus-building-525a8a78\" style=\"\" rel=\"noopener\">massing police next to the campus<\/a> after protesters \u201cdramatically\u201d took over a building, and those occupying the building have been <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/pro-palestinian-protesters-occupy-building-columbia-university-cnn-2024-04-30\/\" style=\"\" rel=\"noopener\">threatened with expulsion<\/a>.<\/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>#1- <\/strong><strong>Iraq and Kazakhstan have laid out their plans to catch up with <\/strong><strong>Opec-mandated oil <\/strong><strong>cuts they didn\u2019t comply with in 1Q 2024<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-30\/opec-laggards-have-presented-plans-on-compensatory-oil-cuts\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing an emailed statement from Kazakhstan\u2019s Energy Ministry and an Iraqi official who asked not to be named. Both countries have been pumping \u201cseveral hundred thousand barrels a day\u201d more than the limit they agreed to meet. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next on production cuts:<\/strong> The oil cartel is next scheduled to convene on Saturday, 1 June to determine whether or not to extend its oil-market-balancing production cuts into 2H 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong><strong>Bahrain is in the search for investors to fund a vital pipeline that transports crude <\/strong><strong>from Saudi<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-30\/bahrain-is-said-to-seek-investors-for-key-saudi-oil-pipeline\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported yesterday citing sources it says are familiar with the matter. The pipeline, which connects Saudi oil processing facilities at Abqaiq with Bahrain\u2019s Bapco refiner, has the capacity to transport up to 350k barrels of oil per day. The sources said the Bahraini government could raise a few hundred mn USD from the sale to investors.<\/p>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Automechanika Riyadh is still open until tomorrow<\/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\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\/hamburghini\/\">Hamburghini<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/miral-dental-group\/\">Miral Dental Group<\/a>\n        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href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/blackrock-hits-usd-5-bn-jackpot-with-pif\/\">\r\n                            BlackRock lands USD 5 bn commitment from PIF to launch multi-asset investment platform based in Riyadh                        <\/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\/05\/01\/blackrock-hits-usd-5-bn-jackpot-with-pif\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n         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data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/blackrock-hits-usd-5-bn-jackpot-with-pif\/2265-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2265.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2265.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2265.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2265.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85695\" class=\"content-area-description single-story post-85695 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-blackrock tag-investment-watch tag-public-investment-fund-pif 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\/.4e05abeb-0b5b-46e9-9948-127a91984f2e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>BlackRock, the world\u2019s largest asset manager, has lined up a USD 5 bn <\/strong><strong>commitment from the <\/strong><strong>Public Investment Fund (PIF)<\/strong> as part of a push to grow in the Kingdom, the two outfits <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/press-releases\/2024\/blackrock-signs-agreement-with-pif-to-accelerate-growth-of-capital-markets-in-saudi-arabia-by-launching-a-riyadh-based-multi-asset-investment-management-platform\/\" style=\"\" rel=\"noopener\">said in a statement yesterday<\/a>. The US-headquartered investment giant is setting up a new entity \u2014 BlackRock Riyadh Investment Management \u2014 which will be run by BlackRock and PIF.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A team in Riyadh to bring it together: <\/strong>A Riyadh-based investment team will manage the multi-asset platform, which will integrate strategies across multiple asset classes. It will also be looking to secure additional funding from local and foreign investors. The team will be \u201csupported by BlackRock\u2019s industry-leading global asset management platform,\u201d they said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThe continued growth of the kingdom\u2019s capital markets and diversification of its financial sector will contribute to future prosperity for its citizens,\u201d BlackRock CEO Larry Fink said. \u201cSaudi Arabia has become an increasingly attractive destination for international investment.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investing in talent: <\/strong>BlackRock Saudi Investment Management (or Brim, as the unit will be known) will staff up by \u201crelocating experienced investment professionals\u201d and will run a graduate training course to develop young Saudi talent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- BlackRock has had its eye on Saudi for a while:&nbsp;<\/strong>The world\u2019s biggest asset manager has been on what Bloomberg earlier this year called an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/aeb8a0fc-c57c-4745-98fd-d0c5511bc8ba\/\" style=\"\" rel=\"noopener\">\u201caggressive hunt for growth in Saudi Arabia.\u201d<\/a> Fink is here to visit multiple times per year, its 20-person Saudi team (now set to grow) is the biggest among its peers and challengers, and the firm is \u201cembedding itself in different parts of the country\u2019s institutions and capital markets,\u201d the business information service wrote.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This announcement makes clear what the dinner was about\u2026 <\/strong>The firm hosted a private gathering <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/16757360-653a-4b51-8202-cbc73d8056dc\" style=\"\" rel=\"noopener\">earlier this week<\/a> in Riyadh to highlight potential investments in the Kingdom for key corporate executives and regional investors. Key speakers at the event included PIF Governor Yasir Al Rumayyan and Energy Minister Prince Abdulaziz bin Salman.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story is getting plenty of attention in the global press: <\/strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0127f1d6-7b20-4b2e-8886-659d63e2e6a1\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/blackrock-launch-pif-backed-saudi-investment-platform-2024-04-30\/\" style=\"\" rel=\"noopener\">Retuers<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-30\/blackrock-to-get-5-billion-from-pif-to-boost-saudi-presence?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-today-earnings-04-30-2024\/card\/blackrock-teams-with-saudi-sovereign-wealth-fund-to-launch-riyadh-based-investment-firm-lBz0WqFlCSATyamSmAJq\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/blackrock\/\">BlackRock<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/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=\"85697\" 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=\"85697\">\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\">HEALTHCARE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/mumtada-medical-is-launching-a-rehab-and-long-term-care-center-in-riyadh-with-mass-general-eyes-national-expansion\/\">\r\n                            Mumtada Medical is launching a rehabilitation and long-term care center in Riyadh with Mass General, eyes national expansion                        <\/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\/05\/01\/mumtada-medical-is-launching-a-rehab-and-long-term-care-center-in-riyadh-with-mass-general-eyes-national-expansion\/\" 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 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href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/mumtada-medical-is-launching-a-rehab-and-long-term-care-center-in-riyadh-with-mass-general-eyes-national-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/14.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85698\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/mumtada-medical-is-launching-a-rehab-and-long-term-care-center-in-riyadh-with-mass-general-eyes-national-expansion\/14-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/14.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"14.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/14.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/14.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85697\" class=\"content-area-description single-story post-85697 post type-post status-publish format-standard has-post-thumbnail hentry category-healthcare tag-enterpriseam-ksa tag-healthcare tag-mass-general-brigham tag-mumtada-medical-company 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\/.be29e160-1d9c-46a9-b3bf-c0a1c6961d44.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Mumtada, Mass General Brigham team up on specialized rehab services:<font face=\"Arial\">&nbsp;<\/font><\/strong>Mumtada Medical Company and <a target=\"_blank\" href=\"https:\/\/www.massgeneralbrigham.org\/en\" style=\"\" rel=\"noopener\">Mass General Brigham<\/a> will kick off operations at a facility in Riyadh for long-term post-acute care and rehabilitation by the end of 2024, as part of a new partnership agreement between the two, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/2197.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they\u2019re building: <\/strong>The facility in Riyadh will have 200 beds, with 27 specialized clinics and 17 dialysis units, according to the statement. It will be supported by a diagnostics lab, pharmacy, radiology, and include both intensive care and high-dependency units serving adults and pediatrics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s just the start: Mumtada is also developing other facilities<\/strong> in the country, the statement says, noting that it is in \u201cadvanced stages\u201d on other announcements that will see it \u201crapidly expand\u201d its footprint.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s who:<\/strong> Mumtada is a specialized rehabilitation and long-term post-acute care company founded by Fawaz Alhokair, who is also Mumtada\u2019s chairman. Mass General Brigham is a Massachusetts-based integrated healthcare network. The network includes several teaching, community, and specialist hospitals, as well as medical experts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The market by the numbers: <\/strong>Mumtada, led by our friend CEO Aiman Shalbi, estimates that Saudi will need some 18k long-term care and rehabilitation beds by 2030, pegging the market as being worth up to USD 14 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the partnership will entail:<\/strong> The partnership will see \u201cworld-renowned physicians, therapists, nurses and subject-matter experts\u201d from Mass General Brigham\u2019s Spaulding Rehabilitation who will \u201cactively engage in clinical programming, workforce plan development, quality plan development, information technology, and on-site commissioning support for Mumtada.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What Mumtada is bringing to the table:<\/strong> \u201cIn this partnership, we will apply our understanding of the Saudi population, our ability to rapidly design, develop, build, operate, and scale large facilities and businesses,\u201d Alhokair said. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mass-general-brigham\/\">Mass General Brigham<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mumtada-medical-company\/\">Mumtada Medical Company<\/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=\"85699\" 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=\"85699\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/maaden-acquires-25-stake-in-jv-with-mosaic-sabic\/\">\r\n                            Ma\u2019aden acquires 25% stake in JV with Mosaic + Sabic as Mosaic exits stage left                        <\/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\/05\/01\/maaden-acquires-25-stake-in-jv-with-mosaic-sabic\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n           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Sabic&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/maaden-acquires-25-stake-in-jv-with-mosaic-sabic\/\">\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\/05\/01\/maaden-acquires-25-stake-in-jv-with-mosaic-sabic\/&title=Ma\u2019aden acquires 25% stake in JV with Mosaic + Sabic\">\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=Ma%E2%80%99aden+acquires+25%25+stake+in+JV+with+Mosaic+%2B+Sabic+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F01%2Fmaaden-acquires-25-stake-in-jv-with-mosaic-sabic%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\/05\/01\/maaden-acquires-25-stake-in-jv-with-mosaic-sabic\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2271.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85700\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/maaden-acquires-25-stake-in-jv-with-mosaic-sabic\/2271-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2271.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2271.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2271.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2271.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85699\" class=\"content-area-description single-story post-85699 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-almunajem-foods tag-balady-poultry-trading tag-enterpriseam-ksa tag-investment-watch tag-ma tag-ma-watch tag-sabic tag-saudi-arabian-mining-company-maaden 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\/.b36bbe59-3f25-4f95-bcf8-4ee0b61a8f8f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Ma\u2019aden ups its stake in JV with Mosaic + Sabic:<\/strong> Saudi Arabian Mining Company (Ma\u2019aden) is acquiring an additional 25% stake in Ma\u2019aden Wa\u2019ad Al Shamal Phosphate (MWSPC) \u2014 its joint venture with petrochemicals giant Sabic and <a target=\"_blank\" href=\"https:\/\/www.mosaicco.com\/\" style=\"\" rel=\"noopener\">the Mosaic Company<\/a> \u2014 to bring its total stake in MWSPC to 85%, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzEyMTEvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5Njcy\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Mosaic will offload its entire 25% stake in MWSPC in exchange for 111 mn newly issued shares in Ma\u2019aden, which will amount to 2.9% of Ma\u2019aden\u2019s share capital following the transaction. The mining company set a share swap ratio for its outgoing shares of 0.53 for every 1 share in MWSPC, which brings the total transaction value \u2014 including guarantor\u2019s rights and the fertilizer product marketing agreement \u2014 to SAR 5.6 bn. Both parties will be held to a lock-up period of 5 years.<\/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>HSBC <\/strong>are financial advisors to Ma\u2019aden, while <strong>AS&amp;H Clifford <\/strong><strong>Chance<\/strong> will provide counsel to Ma\u2019aden. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The Industry and Mineral Resources Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e05daf4b-eff6-4b06-997c-6fa072982e5e\/miners-exploring-for-copper,-rare-earths-could-get-access-to-sar-685-mn-incentive-program\" style=\"\" rel=\"noopener\">unveiled last month<\/a> a SAR 685 mn incentive program for mining exploration in the Kingdom as it aims to expand the sector and tap reserves of gold, phosphate and others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> Ma\u2019aden\u2019s Wa\u2019ad Al Shamal Phosphate 3 project was among 12 private-sector projects <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/903880ff-3695-4983-b933-7b2d38f5e2d8\/algeria-launches-tenders-for-15-solar-plants-%2B-neom-and-ma%25e2%2580%2599aden-receive-gov%25e2%2580%2599t-incentives\" style=\"\" rel=\"noopener\">selected for government incentives and support<\/a> under the Shareek program last month.<\/p>\n<p class=\"tag-border-left\">IN OTHER M&amp;A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul-listed Almunajem Foods signed a share purchase agreement to acquire an <\/strong><strong>additional 23% of Balady Poultry <\/strong><strong>Trading Co<\/strong>, Almunajem said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MTYyL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5NjYw\/\" style=\"\" rel=\"noopener\">Tadawul disclosure<\/a> yesterday. Almunajem will snap up the stake \u2014 equivalent to 1.51 mn shares \u2014 at SAR 120 per share, valuing the transaction at a total of SAR 181.3 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ownership structure post-transaction:<\/strong> Once the acquisition closes, Almunajem will hold a 40% stake in Balady Poultry, after previously holding a 17% stake, it said in the disclosure. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Almunajem had acquired an initial 17% stake in Balady Poultry <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-oyMjQyEA_ODVPvyA3NMIgMyA3XNdREQAIO3Zd\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83ODcxMS9jb21wYW55U3ltYm9sLzIxMjAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">in March<\/a> in a transaction worth SAR 134 mn, after signing a non-binding MoU to snap up Balady Poultry stakes. The Saudi Advanced Industries Company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/62cd5077-8b7c-461f-97f3-f7898507dac3\/amiantit%25e2%2580%2599s-subsidiaries-have-lined-up-sar-174-mn-in-contracts.-plus:-mining,-ipo,-desalination\" style=\"\" rel=\"noopener\">also snapped up<\/a> 567.2k shares in Balady Poultry from \u201cmultiple shareholders\u201d over separate batches dating back from September 2023 until March.<\/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\/almunajem-foods\/\">Almunajem Foods<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/balady-poultry-trading\/\">Balady Poultry Trading<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sabic\/\">SAbic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-arabian-mining-company-maaden\/\">Saudi Arabian Mining Company (Ma\u2019aden)<\/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=\"85701\" 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=\"85701\">\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\">REAL ESTATE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/ezdihar-real-estate-al-istithmar-capital-bank-on-rising-demand-for-offices-in-riyadh\/\">\r\n                            Ezdihar Real Estate, Al Istithmar Capital bank on rising demand for offices in Riyadh with SAR 1.1 bn real estate fund                        <\/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\/05\/01\/ezdihar-real-estate-al-istithmar-capital-bank-on-rising-demand-for-offices-in-riyadh\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The fund aims to develop a landmark business park in Riyadh.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In detail:<\/strong> The development, which spans a 103k sqm \u201cprime plot,\u201d is situated on the King Saud University campus in Riyadh along Prince Turki I Road. It will be designed as a \u201cGrade A office park\u201d with direct connections to King Khalid International Airport and major projects in the capital. The location has been \u201cstrategically chosen to attract leading businesses looking for premium office space in a dynamic area.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A SMART INVESTMENT-<\/strong> Grade A office occupancy levels in Riyadh hit 98%, which is among the highest globally, a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/2240.pdf\" style=\"\" rel=\"noopener\">3Q 2024 report (pdf)<\/a> by real estate services provider Savills showed. \u201cActivity remains so strong that under-construction buildings have recorded healthy pre-commitment levels,\u201d it said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the firms: <\/strong>Ezdihar Real Estate Development \u2014 a part of <a target=\"_blank\" href=\"https:\/\/ezdihar.com\/\" style=\"\" rel=\"noopener\">Ezdihar Holding<\/a> under the Fawaz Alhokair Group \u2014 aims to develop over 1 mn sqm of leasable area and deliver 2k residential units across major cities in the Kingdom by 2030. Al Istithmar Capital is the investment arm of Saib.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh\u2019s rising demand for offices has been luring many:<\/strong> Earlier this year, SNB Capital and Alshegrey Investment Group <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/21901196-389b-401b-9670-dec9d735bc72\" style=\"\" rel=\"noopener\">launched the SAR 1 bn<\/a> Al Ahli Al Basateen Real Estate fund. The SNB (the investment banking arm of SNB, the kingdom\u2019s largest bank by assets) and Alshegrey are looking to capitalize on rising demand in Riyadh for offices and commercial real estate.<\/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-istithmar-capital\/\">Al Istithmar Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ezdihar-real-estate\/\">Ezdihar Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-investment-bank-saib\/\">Saudi Investment Bank (Saib)<\/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=\"85703\" 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=\"85703\">\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\">DISPUTE WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/court-rules-for-middle-east-paper-as-years-long-legal-battle-with-environment-ministry-continues\/\">\r\n                            Court rules for Middle East Paper as years-long legal battle with Environment Ministry continues                        <\/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\/05\/01\/court-rules-for-middle-east-paper-as-years-long-legal-battle-with-environment-ministry-continues\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/court-rules-for-middle-east-paper-as-years-long-legal-battle-with-environment-ministry-continues\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1738.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85704\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/court-rules-for-middle-east-paper-as-years-long-legal-battle-with-environment-ministry-continues\/1738-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1738.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1738.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1738.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1738.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85703\" class=\"content-area-description single-story post-85703 post type-post status-publish format-standard has-post-thumbnail hentry category-dispute-watch tag-dispute-watch tag-enterpriseam-ksa tag-environment tag-middle-east-paper-mepco tag-water-and-agriculture-ministry-mewa 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\/.a84da862-fc23-4288-a2a2-f11d433604df.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Middle East Paper Co. was handed a favorable final verdict in a <\/strong><strong>property rights <\/strong><strong>case&nbsp;<\/strong><strong>against the Environment, Water and Agriculture Ministry (Mewa)<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVBNc4IwEP0tPXisWWUE2ltap4iDn2hVLp0QV2AGCBOC1v76gjhjtdqxmRzyXt6-fbvEI0vipWwbBUxFImVxiVee_tGhOrR7JoygN3sFHVxLn8_MVretk8W5wBxYOkyGdDJqGx2w3oF4_6oHd9yBydt4oDkwBQv0--rhxqF39PfOJSP6ZJQJ-i-W7VDN1I1LwZURL5r8nuEg-CNkn3hBLPx64TT1NTMgnsQNSpTNQpZ0qFSWPzegAbvdrhkIEcTY5CJpwLWSUOSKLM-VxMX0sC7j5j7sFllIzEUhOZJpgIqmqShSjgmmyoly1WWKkQlnPEQHtxiPWYDEreZj622UC5lXKrKqmBy5ErKb2esj3ie-iOt3JsW64Gq2z7AmlCitj--sNHWjrxK1oDZikocnbfU_LBIfZdcnq3ZFbaRITgasSs2rzD8a4KdyD0Y1XpfqMcpIVOmyZD5fQmQ_ev5e0xKamNr53dGHb8EHhK8!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8xMjAyL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5NjU2\/\" style=\"\" rel=\"noopener\">a regulatory filing to Tadawul<\/a>. Middle East Paper is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8d8f1fdc-560d-42af-a248-a0e2c9c04d03\/middle-east-paper-to-break-ground-on-fifth-production-line-in-3q\" style=\"\" rel=\"noopener\">23%<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8d8f1fdc-560d-42af-a248-a0e2c9c04d03\/middle-east-paper-to-break-ground-on-fifth-production-line-in-3q\" style=\"\" rel=\"noopener\">owned by the Public Investment Fund (PIF)<\/a>, which became the paper manufacturer\u2019s largest shareholder in January.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>The court of appeal upheld an initial ruling by Jeddah Administrative Court annulling compensation of SAR 2.6 mn ordered by the ministry\u2019s evaluation committee. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the issue? <\/strong>Mewa seized property belonging to Middle East Paper in 2007 and offered compensation of SAR 2.6 mn nine years later. The company claimed in a suit filed last September that officials had <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lZJBT4NAEIV_Sw8czQxL2N16W2ukNK0UAYW9mKUlSAILMdsa_PUSmzRplVbnNpP38uabDEhIQWq1r0plqlareugzSV9dQZHMOQY4j2dIMfJoEnP73nfg5VTAVx7F8FGEAWEues8I8l9-jNYuhg_rlbPEJ_SQ_s2PIyWu5meDn40LbIhAgsz7qG_ytoaMDHWYCK3bnd4UTaENZPawiTwNC8SUDSyLO89fCodTdi745Vhn6_68xrfgEu5FYEKvAIf0ALxpm07pI7VNkMACZFm3-eEr3ozpbi200Kit-tjV1hCttJ4pA6k9LvC3kDKXMxci9Q5dkyTpZ1zkU7_yb1TOe6fel5PJF6um5k0!\/dz\/d5\/L0lHSkovd0RNQUxrQUVnQSEhLzROVkUvZW4!\/\" style=\"\" rel=\"noopener\">improperly valued the asset<\/a> and demanded compensation closer to SAR 74 mn, citing an independent valuation report.<\/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\/dispute-watch\/\">DISPUTE WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/environment\/\">Environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/middle-east-paper-mepco\/\">Middle East Paper (Mepco)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/water-and-agriculture-ministry-mewa\/\">Water and Agriculture Ministry (Mewa)<\/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=\"85705\" 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=\"85705\">\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\">MANUFACTURING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/al-khorayef-lg-chem-to-localize-manufacturing-of-key-desalination-tech-at-new-factory\/\">\r\n                            Al Khorayef Group, LG Chem set to manufacture desalination membranes locally                        <\/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\/05\/01\/al-khorayef-lg-chem-to-localize-manufacturing-of-key-desalination-tech-at-new-factory\/\" 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\/05\/01\/al-khorayef-lg-chem-to-localize-manufacturing-of-key-desalination-tech-at-new-factory\/')\">\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\/05\/01\/al-khorayef-lg-chem-to-localize-manufacturing-of-key-desalination-tech-at-new-factory\/\">\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=Al Khorayef, LG Chem to localize manufacturing of key desalination tech at new factory&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/al-khorayef-lg-chem-to-localize-manufacturing-of-key-desalination-tech-at-new-factory\/\">\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\/05\/01\/al-khorayef-lg-chem-to-localize-manufacturing-of-key-desalination-tech-at-new-factory\/&title=Al Khorayef, LG Chem to localize manufacturing of key desalination tech at new factory\">\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=Al+Khorayef%2C+LG+Chem+to+localize+manufacturing+of+key+desalination+tech+at+new+factory+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F01%2Fal-khorayef-lg-chem-to-localize-manufacturing-of-key-desalination-tech-at-new-factory%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\/05\/01\/al-khorayef-lg-chem-to-localize-manufacturing-of-key-desalination-tech-at-new-factory\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2269.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85706\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/al-khorayef-lg-chem-to-localize-manufacturing-of-key-desalination-tech-at-new-factory\/2269-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2269.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2269.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2269.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2269.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85705\" class=\"content-area-description single-story post-85705 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-alkhorayef-industries tag-enterpriseam-ksa tag-infrastructure tag-manufacturing tag-saudi-water-forum tag-water-management 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\/.636bbecb-333d-474b-9740-f3e64a2b2225.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A push for local desalination:<\/strong> Al Khorayef Group signed a cooperation agreement with South Korean petrochemicals giant LG Chem to build an industrial complex in Saudi to manufacture seawater reverse osmosis (SWRO) membranes and a technical center, the leading industrial group said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7190916514374443008\/\" style=\"\" rel=\"noopener\">statement<\/a>. The agreement was signed on the sidelines of the <a target=\"_blank\" href=\"https:\/\/swforum.sa\/?lang=en\" style=\"\" rel=\"noopener\">Saudi Water Forum<\/a>, which concludes tomorrow in Riyadh.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong> The industrial complex and technical center will begin operations in 2026 and looks to \u201cmeet growing demand on desalination in the region,\u201d the statement said. The plant is set to manufacture 300k membranes annually and will see an investment of some SAR 320 mn, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2093480\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What went down at the forum:<\/strong> A number of partnership agreements and MoUs were signed between government institutions and the private sector to help develop the uses of recycled water and promote the adoption of technology in water management, according to SPA.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also signed at the forum:<\/strong><\/p>\n<ul>\n<li>A cooperation agreement between <strong>PIF-owned <\/strong><strong><a target=\"_blank\" href=\"https:\/\/sirc.sa\/\" style=\"\" rel=\"noopener\">Saudi Investment Recycling<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/sirc.sa\/\" style=\"\" rel=\"noopener\">Company<\/a><\/strong> and German wastewater treatment solutions <strong>GI Aquatech<\/strong> to \u201cbolster joint cooperation.\u201d<\/li>\n<li>Three agreements between the <strong><a target=\"_blank\" href=\"https:\/\/www.sio.gov.sa\/en\" style=\"\" rel=\"noopener\">Saudi Irrigation Organization<\/a><\/strong><strong> and unnamed local and foreign firms <\/strong>to develop the uses of<strong> recycled water<\/strong> and to develop <strong>agricultural production<\/strong> in the Kingdom.<\/li>\n<li><strong>An agreement <\/strong>between <strong>Alkhorayef Water and Power<\/strong>, local contractor <a target=\"_blank\" href=\"https:\/\/alawael.com\/ar\/home-ar\/\" style=\"\" rel=\"noopener\">Al Awael<\/a> and <strong><a target=\"_blank\" href=\"https:\/\/www.cwc.com.sa\/\" style=\"\" rel=\"noopener\">Civil Works Co<\/a><\/strong>. to set up two projects in Dammam and Al Khobar.<\/li>\n<\/ul>\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\/alkhorayef-industries\/\">AlKhorayef Industries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-water-forum\/\">Saudi Water Forum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/water-management\/\">water management<\/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=\"85707\" 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=\"85707\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">CABINET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/strategic-dialogue-with-japan-is-in-the-cards\/\">\r\n                            Strategic dialogue with Japan is in the cards                        <\/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\/05\/01\/strategic-dialogue-with-japan-is-in-the-cards\/\" 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\/05\/01\/strategic-dialogue-with-japan-is-in-the-cards\/')\">\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\/05\/01\/strategic-dialogue-with-japan-is-in-the-cards\/\">\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=Strategic dialogue with Japan is in the cards&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/strategic-dialogue-with-japan-is-in-the-cards\/\">\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\/05\/01\/strategic-dialogue-with-japan-is-in-the-cards\/&title=Strategic dialogue with Japan is in the cards\">\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=Strategic+dialogue+with+Japan+is+in+the+cards+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F01%2Fstrategic-dialogue-with-japan-is-in-the-cards%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\/05\/01\/strategic-dialogue-with-japan-is-in-the-cards\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/4.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85708\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/strategic-dialogue-with-japan-is-in-the-cards\/4-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/4.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"4.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/4.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/4.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85707\" class=\"content-area-description single-story post-85707 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-enterpriseam-ksa tag-isdb tag-world-economic-forum-wef 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\/.755e3458-e677-4c55-81ff-202773b21190.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cabinet approved yesterday an MoU between the government and Japan to establish a <\/strong><strong>strategic dialogue<\/strong> at the foreign minister level, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2093827\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The World Economic Forum (WEF) special meeting in Riyadh received praise <\/strong>from the ministers. They said the hosting of the event comes under the Kingdom\u2019s efforts to boost global economic growth amid its unprecedented economic transformation. The ministers also expressed appreciation for King Salman\u2019s sponsorship of the Riyadh-hosted Islamic Development Bank (IsDB) annual meetings. The support by Saudi reflects its keenness on continued cooperation with the IsDB bank to support economic cooperation between member states and others, they said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gaza also got a mention:<\/strong> The Cabinet also discussed exerted efforts by Saudi and its partners in regards to a ceasefire in Gaza and an international recognition of an independent Palestinian state. They reiterated Saudi\u2019s support to stability and development in the Middle East and elsewhere.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also approved at yesterday\u2019s Cabinet meeting:<\/strong><\/p>\n<ul>\n<li>A cooperation agreement between the government and <strong>Bahrain<\/strong> on <strong>energy<\/strong>;<\/li>\n<li>An MoU between the government and <strong>Nigeria<\/strong> on <strong>oil and gas<\/strong>;<\/li>\n<li>An MoU between the <strong>Industry and Mineral Resources Ministry<\/strong> and its counterpart in the Democratic Republic of <strong>Congo<\/strong> on <strong>mining<\/strong>;<\/li>\n<li>An MoU for <strong>industrial cooperation<\/strong> between the Industry and Mineral Resources Ministry and its <strong>Tunisian<\/strong> counterpart;<\/li>\n<li>A cooperation agreement between <strong>State Security Presidency<\/strong> and their counterparts in <strong>Pakistan<\/strong> on the fight against <strong>terrorism<\/strong>.<\/li>\n<\/ul>\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\/cabinet-watch\/\">CABINET WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/isdb\/\">IsDB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/world-economic-forum-wef\/\">World Economic Forum (WEF)<\/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=\"85709\" 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=\"85709\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/infobip-unveils-first-data-center-in-saudi-plus-manufacturing-waste-management-and-logistics\/\">\r\n                            Infobip unveils first data center in Saudi. Plus: manufacturing, waste management and logistics                        <\/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\/05\/01\/infobip-unveils-first-data-center-in-saudi-plus-manufacturing-waste-management-and-logistics\/\" 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\/05\/01\/infobip-unveils-first-data-center-in-saudi-plus-manufacturing-waste-management-and-logistics\/')\">\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\/05\/01\/infobip-unveils-first-data-center-in-saudi-plus-manufacturing-waste-management-and-logistics\/\">\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=Infobip unveils first data center in Saudi. Plus: manufacturing, waste management and logistics&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/infobip-unveils-first-data-center-in-saudi-plus-manufacturing-waste-management-and-logistics\/\">\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\/05\/01\/infobip-unveils-first-data-center-in-saudi-plus-manufacturing-waste-management-and-logistics\/&title=Infobip unveils first data center in Saudi. Plus: manufacturing, waste management and logistics\">\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=Infobip+unveils+first+data+center+in+Saudi.+Plus%3A+manufacturing%2C+waste+management+and+logistics+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F01%2Finfobip-unveils-first-data-center-in-saudi-plus-manufacturing-waste-management-and-logistics%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\/05\/01\/infobip-unveils-first-data-center-in-saudi-plus-manufacturing-waste-management-and-logistics\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85710\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/infobip-unveils-first-data-center-in-saudi-plus-manufacturing-waste-management-and-logistics\/2-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85709\" class=\"content-area-description single-story post-85709 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-abdi-ibrahim tag-alkhorayef-water-and-power-technologies-awpt tag-also-on-our-radar tag-baazeem-trading tag-cigalaha-healthcare tag-data-centers tag-enterpriseam-ksa tag-infobip tag-saudi-ports-authority 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\/.1f497c85-b811-4711-8f76-e6971cb70669.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">TECHNOLOGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Global cloud communication firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.infobip.com\/\" style=\"\" rel=\"noopener\">Infobip<\/a><\/strong><strong> launched its first data center <\/strong><strong>in Saudi<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/2244.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a>. The data center, colocated at an unnamed local service provider, will host and process data across the Kingdom in line with international data security standards, the statement read.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>Infobip\u2019s announcement comes amid rising global industry interest in the Kingdom and new data sovereignty regulations that will require many providers to house and process Saudi data in the Kingdom. <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/422651fb-d176-4872-8d79-8205368005cd\/\" style=\"\" rel=\"noopener\">Check out our primer here.<\/a><\/strong><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Communications and IT Minister <\/strong><strong>Abdullah Alswaha discussed potential investment in <\/strong><strong>emerging technologies and government digitalization <\/strong>with the digital economy ministers of Armenia, Estonia and Rwanda, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2093358\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported. Alwaha\u2019s meetings were on the sidelines of the World Economic Forum (WEF) special meeting in Riyadh.<\/p>\n<p class=\"tag-border-left\">MANUFACTURING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jeddah-based pharma manufacturer and <\/strong><strong>distributor <\/strong><strong><a target=\"_blank\" href=\"https:\/\/cigalah.com\/\" style=\"\" rel=\"noopener\">Cigalaha Healthcare<\/a><\/strong><strong> is set to <\/strong><strong>localize <\/strong><strong>the production and supply of 29 pharma products<\/strong> under a freshly-penned partnership with Turkish pharma player <a target=\"_blank\" href=\"https:\/\/alrihan.ly\/category\/abdiibrahim\/\" style=\"\" rel=\"noopener\">Abdi Ibrahim<\/a>, Cigalah\u2019s CEO Yasser Naghi told <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/04\/29\/article_2722306.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a>. The partnership will see both pharma firms manufacturing treatments for heart disease, cancer, diabetes and nervous system impairments and biopharma.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Phase one of the joint venture will see some SAR 180 mn deployed over the next five <\/strong><strong>years<\/strong>, with the goal of manufacturing up to 150 varieties of pharma products by the end of the period. The plant \u2014 which is scheduled for launch in 1Q 2025 \u2014 is expected to generate some SAR 500 mn in revenues, Naghi said. It aims to meet local and neighboring Gulf markets demand, he added.<\/p>\n<p class=\"tag-border-left\">WASTE MANAGEMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alkhorayef Water and Power Technologies (Awpt) signed a 15-year operation and <\/strong><strong>maintenance agreement worth SAR 1.7 bn <\/strong>with the National Water Company for four sewage treatment plants in Al Ahsa, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzIwODEvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5Njc0\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>.<\/p>\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICT solutions provider Perfect Presentation Commercial Services (2P)<\/strong> signed a two-year contract worth SAR 201 mn to operate and develop Health Ministry\u2019s contact centers, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/hZFNU4MwEIZ_iwfOu0SSoDcsNLWAKaUfNBcnrZ2KEz4OWKf_3oy9FCt1bzv7vPu-OwsKClC1PpYH3ZVNrY3tN4q90oAhmfgoxZhEmI0fnrIwEi7GHqz7gJ8KhtlLkEnCKWJOQF2OZcS51S-ku3IjImP-W4_5jFpglt4nOEeBrK8f8seBCvB_veojfhiOLBL7kylKgoxfAdcn9oE_bvgBboW8GVNwyPc1LCzEL2xWIw8ZSk-kie8KSmEK6mCa7flt713XPjroYKff9NencayLaXba7KGwywaIXVO1uj7lp2rb2DWcoAdttVwWWD5_eHNzTIK7b5Y2C7Q!\/dz\/d5\/L0lDU0lLVUtVSkNncFJDZ3BSQ2lDbEVLSUtVU0ovWUJVRUFBQUlJTUlFQUNJQ0tJS0lHT0JPQkdPSkZKRkdKTk5ETkRMSUVDTkhIUEhQTEhBb0VNSW9FRUEhLzRKQ2lqc1l1T0lRU2t5RkpOUlRrS2FhaG10MnN0bk5Uelc3V1d3V29wVlVZb0EhIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9BTk5PVU5DRU1FTlRfTlVNQkVSLzc5NjQxL2NvbXBhbnlTeW1ib2wvNzIwNC9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvYW5JZC9lbg!!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/p>\n<p class=\"tag-border-left\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mawani adds new shipping service to Jeddah port: <\/strong>The Saudi Port Authority (Mawani) has added a new weekly shipping service, operated by the Mediterranean Shipping Company (MSC), to Jeddah Islamic Port, according to a <a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=300424&amp;language=ar\" style=\"\" rel=\"noopener\">statement<\/a>. The service, dubbed Levante Express, will connect Jeddah with ports in northern and southern Europe, including Italy\u2019s La Spezia Port and the Port of Naples, Turkey\u2019s Port of Mersin, and Egypt\u2019s Alexandria. It will offer a capacity of up to 15k TEUs.<\/p>\n<p class=\"tag-border-left\">RETAIL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local FMCG distributor <\/strong><strong><a target=\"_blank\" href=\"https:\/\/baazeem.com\/en\/aboutus\/\" style=\"\" rel=\"noopener\">Baazeem Trading<\/a><\/strong><strong> will become the exclusive distributor for food <\/strong><strong>products by <\/strong><strong>Egypt-based food manufacturer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/eg.linkedin.com\/company\/kellogg-tolaram-noodles-egypt\" style=\"\" rel=\"noopener\">Kellogg Tolaram Noodles<\/a><\/strong> in the local market, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3zmnfmjc\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The contract, which is valued at SAR 20 mn, entails distributing Kellogg Tolaram\u2019s food products to supermarkets, mini markets, wholesale and others. Baazeem anticipates annual sales growth of SAR 20 mn annually over the course of the three-year contract , it 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\/abdi-ibrahim\/\">Abdi Ibrahim<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alkhorayef-water-and-power-technologies-awpt\/\">Alkhorayef Water and Power Technologies (AWPT)<\/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\/baazeem-trading\/\">Baazeem Trading<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cigalaha-healthcare\/\">Cigalaha Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/data-centers\/\">data centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infobip\/\">Infobip<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-ports-authority\/\">Saudi Ports Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85711\" 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=\"85711\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/adq-to-sell-first-usd-denominated-bonds-in-benchmark-sized-issuance\/\">\r\n                            ADQ to sell first USD-denominated bonds in benchmark-sized issuance                        <\/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\/05\/01\/adq-to-sell-first-usd-denominated-bonds-in-benchmark-sized-issuance\/\" 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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A global investor call reportedly took place on Monday to discuss the debut offering. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong>A benchmark sized issuance usually has a minimum value of USD 500 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADQ is looking to diversify its funding sources for future acquisitions<\/strong>, according to one of the sources. In addition to its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0b97fcf-95b0-4d39-86ae-0a4989221520\" style=\"\" rel=\"noopener\">landmark USD 35 bn<\/a> agreement with the Egyptian government back in February, ADQ has committed to plenty of investments over the last few months, including agreements <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1b1842e0-1a82-43d0-aea8-b71d3dab5adb\/uae-to-invest-usd-500-mn-in-kenya,-including-in-mining-and-tech-%2B-ecuador-next-in-line-for-trade-agreement\" style=\"\" rel=\"noopener\">in Kenya worth USD 500 mn<\/a> and initiated a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/708e3db3-9849-441c-b644-4412a3d64600\/uae-signs-usd-35-bn-partnerships-with-oman\" style=\"\" rel=\"noopener\">USD 180 mn tech-focused fund in Oman<\/a> just last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The offering comes one week after Abu Dhabi\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/01e6e28d-c584-49d5-a2e4-4d1c933d717b\/abu-dhabi-raises-usd-5-bn-in-first-eurobond-sale-in-three-years\" style=\"\" rel=\"noopener\">first eurobond sale<\/a><\/strong><strong> in three years<\/strong>, raising around USD 5 bn in one of the biggest emerging market transactions of the year, according to Bloomberg. Companies under Abu Dhabi\u2019s ownership had around USD 113 bn in outstanding debt by the end of 2023, according to the bond prospectus.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT: <\/strong> The wealth fund, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, manages around AED 720.5 bn (USD 196 bn) worth of assets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Our friends at HSBC Holdings and First Abu Dhabi Bank, alongside Citigroup, Cr\u00e9dit Agricole, Goldman Sachs International, and Standard Chartered will act as joint global coordinators and active bookrunners, according to Reuters and Bloomberg. <\/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>Most Asian markets are closed this morning in observance of Labor Day. <\/strong>The Nikkei was down about 0.7% in early trading, while Australia\u2019s ASX 200 was off a bit more than 1%. Markets are also closed today in France, Germany, Italy, and Spain and will look to make up ground tomorrow after the broad Stoxx 600 closed down nearly 1.5% for the month of April. <strong>Futures suggest shares in London and New York will face selling pressure <\/strong>at the opening bell later today.<\/p>\n<p><a target=\"_blank\" id=\"t.e29b550cad76b767b08e3efaf04925c03810aba9\" 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\">12,394.9<\/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: +3.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,561<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +10%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,336.3<\/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\">+0.4% (YTD: +7.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">24,449<\/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% (YTD: -1.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,067<\/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\">+0.05% (YTD: -5.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,156<\/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: +2.4%)<\/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>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\">5,065<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1% (YTD: +6.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,144<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +5.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,921<\/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\">-1.2% (YTD: +8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">87.9<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1.97  <\/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\">-2.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">2,305.2<\/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\">-2.2%<\/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>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\">60,374.9<\/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\">-4.3% (YTD: 117.3%)<\/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 closed up 0.2% <\/strong><strong>yesterday <\/strong>on turnover of SAR 7.5 bn. The index is up 3.6% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> MCDC (+7.9%), Nadec (+7.3%) and Saudi Re (+7.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Saudi Electricity (-3.7%), Chubb (-2.7%) and Raydan (-2.6%).<\/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><strong> closed up 0.4% <\/strong><strong>yesterday&nbsp;<\/strong>on turnover of SAR 54.8 mn. The index is up 7.4% 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> Future Care (+15.7%), AlBabtain Food (+7.9%) and SPC (+5.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Ghida AlSultan (-14.7%), Taqat (-8.4%) and Academy of Learning (-7.6%)<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bank AlBilad\u2019s board of directors recommended a capital hike to SAR 12.5 bn<\/strong> through issuing one bonus share for every four shares, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/526befum\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85713\" 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                            \"\r\n            id=\"85713\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/aramco-still-the-regions-most-valuable-brand\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2262.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85714\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/aramco-still-the-regions-most-valuable-brand\/2262-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2262.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2262.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2262.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2262.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85713\" class=\"content-area-description single-story post-85713 post type-post status-publish format-standard has-post-thumbnail hentry category-uncategorized tag-aramco 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\/12\/.66afd76f-75ec-4e3c-ba55-ddc56a9e457d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Oil giant Aramco has retained its position as the region\u2019s most valuable <\/strong><strong>brand<\/strong>, London-based valuation consultancy firm <a target=\"_blank\" href=\"https:\/\/brandirectory.com\/\" style=\"\" rel=\"noopener\">Brand Finance<\/a> \u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/2066.pdf\" style=\"\" rel=\"noopener\">latest report (pdf)<\/a> showed. This comes despite an 8% drop in brand value to USD 41.6 bn on the back of lower crude oil prices and sales volumes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another mention for Stc: <\/strong>Telecoms giant Stc clinched the top spot as the most valuable telecoms brand in the Middle East after a 12% increase in brand value to USD 13.9 bn. It ranked as the region\u2019s second strongest brand in the region with a brand strength index score of 88.1\/100.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All thanks for Telefonica: <\/strong>Stc <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/fae6b086-b7f3-41a1-bf1d-2117af671a8f\/stc,-yansab-report-results-for-fy-2023\" style=\"\" rel=\"noopener\">grabbed a 9.9% stake<\/a> in Spain\u2019s Telefonica in September 2023 to become the telecom giant\u2019s largest shareholder at USD 2.3 bn. That has sent Spain\u2019s government on a quest <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/36df35ca-d3e7-412f-8176-026b0812558a\" style=\"\" rel=\"noopener\">to edge out<\/a> Stc as the largest shareholder.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And one for healthcare: King Faisal Specialist Hospital and Research Center<\/strong> was named the region\u2019s most valuable healthcare brand on the back of a 31% increase in brand value to USD 1.5 bn. It ranked first in the region and 20th globally in Brand Finance\u2019s Global Top 250 Hospitals list with a brand strength index score of 73.9\/100.<\/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\/aramco\/\">Aramco<\/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=\"85715\" 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\/05\/01\/85715\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85715\" class=\"content-area-description single-story post-85715 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;\">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: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>BlackRock + PIF | Mumtada + Mass General | Banking on Riyadh offices | Aramco still the region\u2019s most valuable brand<\/p>\n","protected":false},"featured_media":85691,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-85690","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"7901b74f-aff6-4e5f-a374-1fc2e027f4ff","teaser":"BlackRock + PIF | Mumtada + Mass General | Banking on Riyadh offices | Aramco still the region\u2019s most valuable brand","photo_url":"https:\/\/ent.news\/2024\/4\/1148.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>BlackRock hits the jackpot - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/blackrock-hits-the-jackpot\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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