{"id":85786,"date":"2024-05-05T00:00:00","date_gmt":"2024-05-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=85786"},"modified":"2025-12-14T18:00:38","modified_gmt":"2025-12-14T18:00:38","slug":"fakeeh-care-ipo-fully-covered-set-to-be-saudis-largest-listing-so-far-this-year","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/fakeeh-care-ipo-fully-covered-set-to-be-saudis-largest-listing-so-far-this-year\/","title":{"rendered":"Fakeeh Care IPO fully covered, set to be Saudi\u2019s largest listing so far this year"},"content":{"rendered":"<section id=\"85788\" 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=\"85788\">\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\/05\/jake-sullivan-says-theres-no-unilateral-saudi-us-deal-but-tom-friedman-says-its-still-in-the-cards\/\">\r\n                            THIS MORNING: Jake Sullivan says there\u2019s no unilateral Saudi-US deal, but Tom Friedman says it\u2019s still 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 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/190.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"190.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/190.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/190.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85788\" class=\"content-area-description single-story post-85788 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-blackrock tag-enterpriseam-ksa tag-saudi-us-relations tag-what-were-tracking-today 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\/.828a6058-267e-4568-a691-820c71407ba6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends<\/strong> \u2014 we have a big issue for you this morning to kick off the week, so let\u2019s jump right in:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>THE BIG STORY HERE AT HOME- White House national security advisory Jake Sullivan <\/strong><strong>says there\u2019s no defense pact with Saudi unless there\u2019s normalization with Israel. <\/strong>Sullivan made the comment at <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/8f5b6401-6c7c-4f73-8bea-ca9e9a10e9ed\" style=\"\" rel=\"noopener\">Financial Times<\/a>&nbsp;event over the weekend, saying \u201cThe integrated vision is a bilateral understanding between the US and Saudi Arabia combined with normalization between Israel and Saudi Arabia, combined with meaningful steps on behalf of the Palestinian people. All of that has to come together \u2026 you can\u2019t disentangle one piece from the others.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT, BUT, BUT\u2026 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us-saudi-arabia-nearing-agreement-security-pact-sources-say-2024-05-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong><strong> has joined <\/strong><strong><a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/ba65a930-c5b2-4b06-949f-33c9ba29e60c\/this-morning:-saudi-and-the-us-said-to-be-closing-in-on-ai,-defense,-and-nuclear-pacts\" style=\"\" rel=\"noopener\">Bloomberg<\/a><\/strong> in reporting that an agreement is in the works, citing multiple sources. And the New York Times\u2019 Tom Friedman claims sources in Riyadh and DC tell him that <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/05\/02\/opinion\/israel-saudi-arabia.html\" style=\"\" rel=\"noopener\">\u201c<\/a> <strong><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/05\/02\/opinion\/israel-saudi-arabia.html\" style=\"\" rel=\"noopener\">the US and the Saudis are considering finalizing the deal and taking it to Congress<\/a><\/strong>&nbsp;with the stated proviso that Saudi Arabia will normalize relations with Israel the minute Israel has a government ready to meet the Saudi-US terms.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A way of putting pressure on Netanyahu? <\/strong>Are the two news agencies picking up on a strategy that would see Riyadh and Washington tell the Israelis, in effect, \u201cWe\u2019re in agreement on everything from a defense pact to normalization \u2014 but you need to recognize an independent Palestinian state. Are you in or out?\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Squint the right way, and Sullivan told the FT as much<\/strong>, saying \u201cit will ultimately be up to the Israeli leadership and frankly ultimately the Israeli people can decide whether that\u2019s a path they want to take or not.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- Agreements on at least three issues are in the works<\/strong>, reports suggest. Beyond the defense pact, we could see: <\/p>\n<ul>\n<li><strong>A new agreement on artificial intelligence<\/strong> that would see lost of investment in (and cooperation on) AI and quantum computing while we agree to \u201climit\u201d the use of some Chinese technology in Saudi;<\/li>\n<li><strong>US help building a domestic nuclear power industry<\/strong>, a key \u201calways-on\u201d component of our drive to ensure energy security (and cement our position as an exporter of green and low-emission electrons).<\/li>\n<li><strong>Riyadh agree to continue to price oil in USD<\/strong> for the long term and not switch China\u2019s RMB.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have more on the story in this morning\u2019s Saudi in the News, below.<\/p>\n<p class=\"tag-border-left\">ALSO HAPPENING-<\/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- Foreign Minister Prince Faisal bin Farhan is leading Saudi\u2019s delegation to this <\/strong><strong>year\u2019s <\/strong><strong>Islamic Summit Conference in Gambia\u2019s Banjul<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2095914\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. In a speech, Bin Farhan reiterated the Kingdom\u2019s call for an immediate and permanent ceasefire in Gaza and an end to the suffering of the Palestinian people. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Iran, Pakistan meetings: <\/strong>Bin Fahan held one-on-ones yesterday with <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2095932\" style=\"\" rel=\"noopener\">Iranian FM Hossein<\/a><a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2095932\" style=\"\" rel=\"noopener\">Amirabdollahian<\/a> and <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2095907\" style=\"\" rel=\"noopener\">Pakistan Foreign Minister Ishaq Dar<\/a>. The event wraps up today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Residents looking to enter Makkah need to show proof of residency<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2095587\" style=\"\" rel=\"noopener\">state news<\/a><a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2095587\" style=\"\" rel=\"noopener\">agency SPA<\/a> reported yesterday. Only people with residence permits issued by Makkah or permits to do Umrah or Hajj will be allowed into the city ahead of Hajj season. The measure came into effect on Saturday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#3- Prince Badr bin Abdul Mohsen bin Abdul Aziz Al Saud passed away yesterday<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/twitter.com\/spagov\/status\/1786778446091202739\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>. The late prince was a renowned poet whose work has been sung by leading artists including Mohammed Abdu, the late Talal Maddah, Kadim Al Sahir, Assala and others.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.chamber.org.sa\/sites\/English\/MediaCenter\/ChamberNews\/Pages\/NewsDetails.aspx?Title=Environmental%20Investment%202024%20monitors%20investment%20opportunities%20and%20financing%20programs%20for%20environmental%20projects\" style=\"\" rel=\"noopener\">Environmental Investment Forum<\/a><\/strong><strong> will open in Dammam in just a <\/strong><strong>couple of hours<\/strong> at Asharqia Chamber\u2019s HQ. The event offers a number of environmental investment and funding options to investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>There\u2019s a chance of rainfall in <strong>Riyadh<\/strong> today with a high of 35\u00b0C and a low of 22\u00b0C. <strong>Makkah<\/strong> will somehow see a moderate weather with a high of 39\u00b0C and a low of 26\u00b0C, while <strong>Al Taif<\/strong> will be mostly cloudy with a high of 29\u00b0C and a low of 18\u00b0C<\/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>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a>&nbsp;to get your own copy of EnterpriseAM Saudi delivered every weekday before 7am Riyadh time \u2014 without charge, thanks to our friends at Cenomi.<br \/><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- US investment giant BlackRock has locked in Capital Market Authority <\/strong><strong>approval <\/strong><strong>to have its Saudi unit <\/strong>manage investments, operate funds, and provide securities advisory in the Kingdom, according to a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3544.aspx\" style=\"\" rel=\"noopener\">statement by the CMA<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That caps a big week for the world\u2019s largest asset manager<\/strong>, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/21971744-56a6-435d-a24e-362419866213\" style=\"\" rel=\"noopener\">lined up a USD 5 bn<\/a> commitment from the Public Investment Fund (PIF). The agreement will see BlackRock setting up a new entity \u2014 BlackRock Riyadh Investment Management \u2014 which will be run by BlackRock and PIF. The multi-asset platform will invest in multiple asset classes and will look to secure additional funding from local and foreign investors.<\/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- Trade officials launch dumping probe: <\/strong>The General Authority for Foreign Trade has launched an investigation into allegations Chinese and Taiwanese companies are dumping stainless steel pipes on the Saudi market, <a target=\"_blank\" href=\"https:\/\/gaft.gov.sa\/ar\/media-center\/news\/Pages\/GAFT-announces-the-initiation-of-an-anti-dumping-investigation-against-the-Kingdoms-imports-of-stainless-steel-or-steel.aspx\" style=\"\" rel=\"noopener\">a<\/a><a target=\"_blank\" href=\"https:\/\/gaft.gov.sa\/ar\/media-center\/news\/Pages\/GAFT-announces-the-initiation-of-an-anti-dumping-investigation-against-the-Kingdoms-imports-of-stainless-steel-or-steel.aspx\" style=\"\" rel=\"noopener\">statement says<\/a>. The investigation covers welded circular pipes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Officials are increasingly active when it comes to dumping:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/45d14d9f-1c46-4d9c-b631-c744d2073b13\" style=\"\" rel=\"noopener\">Saudi imposed last month<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/45d14d9f-1c46-4d9c-b631-c744d2073b13\" style=\"\" rel=\"noopener\">anti-dumping duties<\/a> on seven imported products from ten European and Asian countries. Those include Iranian clinker, select car batteries from South Korea and superabsorbent polymer from five countries among others.<\/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<\/strong><strong>- Fines handed down in market-manipulation case. <\/strong>The <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3542.aspx\" style=\"\" rel=\"noopener\">Capital Market<\/a><a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3542.aspx\" style=\"\" rel=\"noopener\">Authority<\/a><a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3542.aspx\" style=\"\" rel=\"noopener\">says<\/a> that the General Secretariat of Committees for Resolution of Securities Disputes <a target=\"_blank\" href=\"https:\/\/crsd.org.sa\/en\/MediaCenter\/Announcements\/Pages\/Announcement-346.aspx\" style=\"\" rel=\"noopener\">has ordered 13 investors<\/a> and other market participants to pay fines totaling nearly SAR 43 mn for illegally trying to influence the share prices of a number of high-profile listed companies between May 2020 and May 2021. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The CMA said it is receiving both individual and class action complaints<\/strong> from anyone who thinks they may have suffered losses as a result of the manipulation. <a target=\"_blank\" href=\"https:\/\/investorprotection.cma.org.sa\/en\/Services\/ServiceDetails\/10\" style=\"\" rel=\"noopener\">They can file complaints here<\/a>.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Off-plan sales probe: <\/strong>The Real Estate General Authority has referred a developer to \u201crelevant authorities\u201d for violating rules on the sale and lease of off-plan projects, it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/SpokespRega\/status\/1786327535137006037\" style=\"\" rel=\"noopener\">post on X<\/a>. The developer began marketing for the project without permits in hand, it said, without providing further details or naming the company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#5- One person died of food poisoning linked to<\/strong><strong> local burger joint Hamburgini<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2095784\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported. The Health Ministry provided a breakdown of the 75 food poisoning linked cases reported in late April, saying that 43 people have been discharged from hospitals. 20 patients are currently at the ICU, while 11 are receiving medical care, according to the ministry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- King Salman has issued a decree abolishing the title \u201cHis Excellency\u201d for any senior <\/strong><strong>officials convicted of corruption<\/strong> or treason, according to <a target=\"_blank\" href=\"https:\/\/www.okaz.com.sa\/news\/local\/2160837\" style=\"\" rel=\"noopener\">Okaz<\/a>. Anyone convicted will also lose benefits and any honors or awards they had previously received.<\/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>A ceasefire in Gaza and what\u2019s next for investment juggernaut Berkshire Hathaway <\/strong>dominate the global business press on this busy Sunday morning. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Hamas officials are in Cairo for ceasefire talks \u2014 and it\u2019s going well<\/strong>, regional and international media report. \u201cHamas negotiators are prepared to accept the terms of an Egypt-brokered deal,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-04\/talks-on-potential-gaza-truce-set-to-restart-saturday-in-egypt?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes, while <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/05\/04\/politics\/gaza-hostage-ceasefire-negotiations\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> cites Israeli and American officials as saying it could take a few more days to hammer out the finer points of a pact. Israeli official aren\u2019t in the Egyptian capital, saying they\u2019re waiting for Hamas\u2019 formal answer. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the works: <\/strong>A multi-week ceasefire (there\u2019s no clarity on how long, exactly) and the release of Palestinian prisoners in exchange for Hamas letting go Israelis it has held hostage. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Time is of the essence: <\/strong>\u201c<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/05\/04\/world\/middleeast\/gaza-famine-mccain-israel.html\" style=\"\" rel=\"noopener\">Parts of Gaza are in \u2018full-blown famine<\/a>\u201d the New York Times quotes the leader of the UN\u2019s World Food Program as saying. The Times\u2019 influential columnist Nicholas Kristof gave his column over yesterday to a photo taken by a US surgeon of a Palestinian mother speaking to her dead son. The boy died of \u201c <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/05\/04\/opinion\/gaza-child-deaths.html\" style=\"\" rel=\"noopener\">complications from malnutrition<\/a>,\u201d Kristof writes. And <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-03\/gaza-faces-extreme-heat-worsening-conditions-for-palestinians-displaced-by-war?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">the situation will only get worse<\/a> as the summer heat picks up.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Everyone from the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a3e25396-972a-4989-931e-7369fdd8d55b\" style=\"\" rel=\"noopener\">Financial Times<\/a><\/strong><strong> to Germany\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.handelsblatt.com\/finanzen\/banken-versicherungen\/berkshire-hathaway-warren-buffett-ueber-seine-designierten-nachfolger-es-laeuft-unglaublich-gut\/100035280.html\" style=\"\" rel=\"noopener\">Handelsblatt<\/a><\/strong><strong> are covering Warren <\/strong><strong>Buffett\u2019s big annual meeting<\/strong>, which the Oracle of Omaha calls Woodstock for Capitalists. Warren still likes Apple despite trimming his position and says he has faith in the guys he\u2019s chosen to run his firm when he steps down. \u201cNot only do I hope you come next year, but I hope I come next year,\u201d the 94-year-old said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to go deeper? <\/strong><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/04\/live-updates-warren-buffett-at-berkshire-hathaway-annual-meeting-2024.html\" style=\"\" rel=\"noopener\">CNBC<\/a> has wall-to-wall coverage, while <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/berkshire-shareholders-descend-omaha-annual-meeting-kicks-off-2024-05-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-04\/a-post-buffett-berkshire-is-omaha-focus-after-munger-s-passing?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> are also on the story.<\/p>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudismash.com\/home\" style=\"\" rel=\"noopener\">Saudi Smash 2024<\/a><\/strong><strong> is underway. <\/strong>It\u2019s the Kingdom\u2019s first-ever professional table tennis event and say 53 matches played yesterday. Another 41 matches will take place today, including the first all-Saudi men\u2019s doubles matchup, organizers say. The event is organized by World Table Tennis and the Saudi Table Tennis Federation and runs through 11 May. Games include men\u2019s and women\u2019s singles and doubles as well as mixed doubles. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A Saudi first: <\/strong>Ali Alkhadrawi and women\u2019s world number 29 Hana Goda from Egypt took their mixed doubles round of 32 match 3-0, marking the first time a Saudi player has entered a mixed double match in the Kingdom. <\/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\/saudi-us-relations\/\">Saudi-US relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n       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     <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15542.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85791\" 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=\"85791\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/fakeeh-care-ipo-looks-set-to-be-saudis-largest-listing-so-far-this-year\/\">\r\n                            Fakeeh Care is looking to raise up to SAR 2.9 bn from its Tadawul IPO                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/fakeeh-care-ipo-looks-set-to-be-saudis-largest-listing-so-far-this-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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           <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Fakeeh+Care+IPO+looks+set+to+be+Saudi%E2%80%99s+largest+listing+so+far+this+year+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F05%2Ffakeeh-care-ipo-looks-set-to-be-saudis-largest-listing-so-far-this-year%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\/05\/fakeeh-care-ipo-looks-set-to-be-saudis-largest-listing-so-far-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/221.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85792\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/fakeeh-care-ipo-looks-set-to-be-saudis-largest-listing-so-far-this-year\/221-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/221.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"221.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/221.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/221.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85791\" class=\"content-area-description single-story post-85791 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-enterpriseam-ksa tag-fakeeh-care tag-ipo-watch tag-modern-mills 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\/.828a6058-267e-4568-a691-820c71407ba6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Private healthcare provider Fakeeh Care Group is looking to raise up to SAR <\/strong><strong>2.9 bn<\/strong> from its IPO on Tadawul\u2019s main market in what is on track to be the largest share sale in the Kingdom so far this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investor appetite is strong: <\/strong>Fund and portfolio managers fully covered the IPO in just the first hour that bankers started taking orders on Thursday, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-02\/saudi-hospital-group-fakeeh-tees-up-riyadh-s-biggest-ipo-of-2024\" style=\"\" rel=\"noopener\">Bloomberg<\/a> says. Bankers say they will price the transaction in the SAR 53.00-57.50 per-share range. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE\u2019s ADIA is emerging as a key buyer in Fakeeh Care IPO: <\/strong>UAE\u2019s largest sovereign wealth fund Abu Dhabi Investment Authority (Adia) is is set to purchase 1.04 mn shares as a cornerstone investment in Fakeeh Care\u2019s IPO, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/206.pdf\" style=\"\" rel=\"noopener\">supplementary prospectus (pdf)<\/a>. Alongside Olayan Saudi Investment \u2014 the other cornerstone investor \u2014 the two funds will buy 1.99 mn shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next<\/strong>: Bookbuilding for institutional investors will continue until Wednesday, 8 May, while orders from retail investors will run from Tuesday, 21 May to Wednesday, 22 May. Bankers will price the sale on Tuesday, 14 May.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the IPO: <\/strong>Fakeeh Care, formally Dr. Soliman Abdul Kader Fakeeh Hospital, is taking a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/341bef0a-b671-4d76-8852-f8d5914c345c\/fakeeh-care-group-aims-to-sell-21.5%2525-stake-in-tadawul-debut\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/341bef0a-b671-4d76-8852-f8d5914c345c\/fakeeh-care-group-aims-to-sell-21.5%2525-stake-in-tadawul-debut\" style=\"\" rel=\"noopener\">21.5% stake<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/341bef0a-b671-4d76-8852-f8d5914c345c\/fakeeh-care-group-aims-to-sell-21.5%2525-stake-in-tadawul-debut\" style=\"\" rel=\"noopener\">to market<\/a> through an offering of both new and existing shares: It plans to offer 30 mn new shares and 19.8 mn existing shares held by the Fakeeh family. Upon completion of the offering, current shareholders (members of the Fakeeh family) will collectively own a 77% stake in the company. <strong><a target=\"_blank\" href=\"https:\/\/en.fakeeh.care\/ipo\" style=\"\" rel=\"noopener\">Check out the key documents in the IPO here<\/a><\/strong>&nbsp;on the transaction microsite.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IPO by the private healthcare provider comes as listings in Saudi pick up pace.&nbsp;<\/strong>Bankers wrapped up on Thursday the institutional tranche of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/64487eae-b41b-4768-8cd8-8aea40b3a0f6\" style=\"\" rel=\"noopener\">water treatment company Miahona\u2019s IPO<\/a>. Nearly USD 697 mn were raised through IPOs in the Kingdom so far, with the largest current IPO being Modern Mills which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bf94604c-d669-4f0d-9946-a119503f7306\" style=\"\" rel=\"noopener\">listed in March<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi healthcare companies are on a roll:<\/strong> Al Hammadi (2015) and Saudi German Healthcare (2016) led the way with high-profile IPOs, with Dr Sulaiman Al Habib, pharma group Al Nahdi Medical, and drugmakers Jamjoom Pharma and Avalon Pharma all having followed suit. Aster DM Healthcare, meanwhile, is said to be looking to spin off its GCC unit with a dual listing on Tadawul and the Dubai Financial Market.<\/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 acting as sole financial adviser. <strong>HSBC<\/strong> is joint bookrunner together with our friends at<strong> EFG Hermes<\/strong> as well as <strong>ANB Capital<\/strong>. <strong>Moelis<\/strong> is advising the selling shareholders, while<strong> AlRajhi Bank<\/strong>, <strong>Saudi National Bank<\/strong>, <strong>Arab National Bank<\/strong>,<strong> SAB<\/strong>, <strong>Alinma Bank <\/strong>and <strong>Bank Aljazira<\/strong> are serving as receiving banks.<\/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\/fakeeh-care\/\">Fakeeh Care<\/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\/modern-mills\/\">Modern Mills<\/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=\"85793\" 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=\"85793\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/bookbuilding-for-leaf-globals-ipo-on-nomu-set-for-26-may\/\">\r\n                            Subscription period for Leaf Global\u2019s IPO on Nomu to begin 26 May                        <\/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\/05\/bookbuilding-for-leaf-globals-ipo-on-nomu-set-for-26-may\/\" 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 <a target=\"_blank\" href=\"https:\/\/leafglobal.com.sa\/\" style=\"\" rel=\"noopener\">Jeddah-based environment consultant<\/a> is preparing to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0cc58c0f-fd29-427c-a17b-d7d08cd22820\/three-more-companies-line-up-to-list-on-nomu,-tadawul%25e2%2580%2599s-parallel-market\" style=\"\" rel=\"noopener\">float a 30% stake<\/a> or 1.5 mn ordinary shares on Nomu at SAR 5 apiece.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The subscription period for the share sale, which is only open to qualified investors, <\/strong><strong>runs through Thursday, 30 May. <\/strong>Investors can place orders for a minimum of ten shares and a maximum of 250k shares each. Final allotment of shares is slated for Thursday, 6 June. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A look at ownership post-IPO: <\/strong>The share sale will see Ghaith Saleh Mohammed Bin Laden \u2014 one of the company\u2019s two shareholders \u2014 sell down to a 4.5% hold from 34% before the transaction. Abdullah Saleh Mohammed Bin Laden will sell just 0.5%, retaining a 65.5% stake post-offering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the company:<\/strong> Established in 2007, Leaf offers multiple environmental consultancy services, including environmental impact assessment, ground and environmental surveys, marine environment services and monitoring and others. <strong>Its clients include Aramco, Acwa Power, <\/strong>Neom, Maaden, Samsung, Saudi BinLadin Group, and others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Al Khair Capital is quarterbacking the transaction as financial advisor and lead manager, while receiving banks include SNB Capital, Al Rajhi Capital, Saudi Fransi Capital, Riyad Capital, Albilad Capital, AlJazira Capital, Alinma Investment and Derayah Financial. <\/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\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/leaf-global-environmental-services\/\">Leaf Global Environmental Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nomu\/\">Nomu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85795\" 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=\"85795\">\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\">BANKING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/local-lenders-may-need-to-look-for-alternative-funding-sources-sp-global-says\/\">\r\n                            Local lenders may need to tap external funding sources amid diversification plan, S&amp;P Global says                        <\/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\/05\/local-lenders-may-need-to-look-for-alternative-funding-sources-sp-global-says\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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It said that growing needs of the Kingdom\u2019s diversification plan, along with loan-to-deposit ratio north of 100%, could push banks to turn to international debt markets or mortgage backed sukuk issuances \u2014or liquidate part of their portfolios \u2014 to narrow the gap.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>The Kingdom\u2019s loan-to-deposit ratio broke past 100% in 2022, up from 86% at the end of 2019, with corporate borrowing expected to drive this trend over the coming years, according to S&amp;P Global. It also highlighted what it described as a \u201cmaturity mismatch\u201d between lending and deposits in banks\u2019 balance sheets, where mortgages accounted for 23.5% of total bank assets at the end of 2023, up from 12.8% in 2019 on the back of government efforts to boost home ownership. On the plus side: the \u201crelative stability of Saudi deposits.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the table:<\/strong> Liquidating a portion of their investment portfolio could leave banks booking previously unrealized losses. S&amp;P seems to think it\u2019s more likely that lenders will issue mortgage-backed sukuk (MBS) to get assets off their balance sheets and shore up liquidity. Banks could do this independently, but the Saudi Real Estate Refinance Company (SRC) could also be a player: At the end of last year, it \u201cbought about SAR 26.7 billion, or about 5% of banks' total mortgage-lending\u201d and could sell them off as government-backed MBS. Banks could also do private MBS sales. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>S&amp;P says most banks like their mortgage portfolios: <\/strong>Default rates are low, it\u2019s relatively simple to repossess properties from defaulters, and bankers like the profitability of mortgages, it says. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That makes it likely that Saudi lenders will continue to tap international debt markets <\/strong>for the next three to five years, flipping to \u201ca net external-debt position within a few years,\u201d with net foreign liabilities expanding from about USD 19.2 bn at the end of 2023 to meet the funding requirements of strong lending growth and amid lower deposit expansion.\u201d<\/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\/banking\/\">BANKING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sp-global\/\">S&amp;P Global<\/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=\"85797\" 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=\"85797\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/robo-advisor-abyan-capital-closes-series-a-round\/\">\r\n                            Robo-advisor Abyan Capital closes series A round with participation from three VCs                        <\/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\/05\/robo-advisor-abyan-capital-closes-series-a-round\/\" 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\/05\/robo-advisor-abyan-capital-closes-series-a-round\/')\">\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\/05\/robo-advisor-abyan-capital-closes-series-a-round\/\">\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=Robo-advisor Abyan Capital closes series A round&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/robo-advisor-abyan-capital-closes-series-a-round\/\">\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\/05\/robo-advisor-abyan-capital-closes-series-a-round\/&title=Robo-advisor Abyan Capital closes series A round\">\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=Robo-advisor+Abyan+Capital+closes+series+A+round+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F05%2Frobo-advisor-abyan-capital-closes-series-a-round%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\/05\/robo-advisor-abyan-capital-closes-series-a-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/231.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85798\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/robo-advisor-abyan-capital-closes-series-a-round\/231-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/231.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"231.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/231.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/231.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85797\" class=\"content-area-description single-story post-85797 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-investment-watch tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.828a6058-267e-4568-a691-820c71407ba6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Robo-advisory <\/strong><strong><a target=\"_blank\" href=\"https:\/\/abyancapital.sa\/about.html\" style=\"\" rel=\"noopener\">Abyan Capital<\/a><\/strong><strong> raised SAR 68 mn (USD 18 mn) in a Series A <\/strong><strong>round <\/strong>led by early stage tech-focused VC firm <a target=\"_blank\" href=\"https:\/\/stv.vc\/\" style=\"\" rel=\"noopener\">Saudi Technology Ventures (STV)<\/a>, according to <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/05\/abyan-capital-secures-18-million-series-led-stv\" style=\"\" rel=\"noopener\">a joint press release<\/a>. Aramco-backed VC fund <a target=\"_blank\" href=\"https:\/\/www.waed.net\/\" style=\"\" rel=\"noopener\">Wa'ed Ventures<\/a> and Riyadh-based VC firm <a target=\"_blank\" href=\"https:\/\/rzm.com.sa\/ar\/\" style=\"\" rel=\"noopener\">RZM investment<\/a> also joined the round. The company didn\u2019t offer information on its capital structure following the offering. Two founders we reached out to for comment didn\u2019t reply to messages by dispatch time this morning.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s Abyan?<\/strong> Founded in 2022 by Abdullah Al-Jeraiwi (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/abdullah-aljeraiwi-7b2753179\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), Omar Al-Mania (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/omar-almania-phd-cfa\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), and Saleh Al-Aqeel (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/salehalaqeel\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), Abyan says it provies \u201cautomated, easy-to-use, and shariah-compliant investment and savings solutions,\u201d allowing retail investors to \u201cefficiently manage their investments, optimize their asset allocations, and achieve their financial goals with ease.\u201d The company offers educational resources for amateur investors <a target=\"_blank\" href=\"https:\/\/blog.abyancapital.sa\/\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to go deeper? <\/strong>Download the app (<a target=\"_blank\" href=\"https:\/\/apps.apple.com\/us\/app\/abyan-%D8%A3%D8%A8%D9%8A%D8%A7%D9%86\/id1613480345?mt=8\" style=\"\" rel=\"noopener\">App Store<\/a> | <a target=\"_blank\" href=\"https:\/\/apps.apple.com\/us\/app\/abyan-%D8%A3%D8%A8%D9%8A%D8%A7%D9%86\/id1613480345?mt=8\" style=\"\" rel=\"noopener\">Google Play<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds: <\/strong>Abyan plans to use the fresh funds to improve its platform, expand its product offering, and broaden its market presence to reach more customers, and grant them greater access to global and local financial markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investment solutions: <\/strong>The company offers three multi-asset investment portfolios including a <strong>low-risk portfolio<\/strong> with a distribution of 70% sukuk, 20% real estate, and 10% stocks, a <strong>moderate-risk wallet<\/strong> \u2014 45% stocks, 30% sukuk, and 30% real estate \u2014 and <strong>a high-risk portfolio<\/strong> (70% stocks and 30% sukuk and real estate), according to its <a target=\"_blank\" href=\"https:\/\/abyancapital.sa\/about.html\" style=\"\" rel=\"noopener\">website<\/a>. The minimum deposit for investment through the Abyan platform is SAR 100k which can be deposited through Apple Pay, Mada cards, and \/ or bank transfer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cAbyan has exceeded deposits of over SAR 1.4 bn and invested more than 100k portfolios. And we will be launching new, diversified products soon with the goal of making Abyan a digital retail investment house,\u201d CEO Abdullah Al-Jeraiwi said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- Local robo-advisors manage assets of more than <\/strong><strong>SAR 1 bn<\/strong>, Capital Market Authority official Yazeed Al Demaigi said in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/af8d8b0c-5e65-4e83-af70-cffbfb1ec9a3\/is-vladimir-putin-coming-to-riyadh%3F-plus:-pmi-shows-the-economy-is-roaring-despite-cost-pressure\" style=\"\" rel=\"noopener\">December 2023<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are robo-advisors? <\/strong>They are financial advisory and asset management firms that look to keep costs low by using algorithms to automate some of their operations, including coming up with portfolio splits and making decisions about asset allocation. <\/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\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85799\" 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=\"85799\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/acwa-power-set-to-build-central-asias-largest-wind-farm\/\">\r\n                            Acwa Power signs SAR 18.2 bn power purchase agreement for 5 GW wind farm in Uzbekistan                        <\/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\/05\/acwa-power-set-to-build-central-asias-largest-wind-farm\/\" 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\/05\/acwa-power-set-to-build-central-asias-largest-wind-farm\/')\">\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\/05\/acwa-power-set-to-build-central-asias-largest-wind-farm\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Acwa Power set to build Central Asia\u2019s largest wind farm&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/acwa-power-set-to-build-central-asias-largest-wind-farm\/\">\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\/05\/acwa-power-set-to-build-central-asias-largest-wind-farm\/&title=Acwa Power set to build Central Asia\u2019s largest wind farm\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Acwa+Power+set+to+build+Central+Asia%E2%80%99s+largest+wind+farm+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F05%2Facwa-power-set-to-build-central-asias-largest-wind-farm%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\/05\/acwa-power-set-to-build-central-asias-largest-wind-farm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2161.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85800\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/acwa-power-set-to-build-central-asias-largest-wind-farm\/2161-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2161.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2161.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2161.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2161.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85799\" class=\"content-area-description single-story post-85799 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-acwa-power tag-energy tag-enterpriseam-ksa tag-renewables tag-uzbekistan 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\/.828a6058-267e-4568-a691-820c71407ba6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Acwa Power inches closer to another Uzbek wind farm: <\/strong>Renewables giant Acwa Power signed a SAR 18.2 bn (c. USD 4.9 bn) power purchase agreement with the <a target=\"_blank\" href=\"https:\/\/www.uzbekistonmet.uz\/en\" style=\"\" rel=\"noopener\">National Electric Grid of Uzbekistan (Negu)<\/a> to develop a new 5 GW wind farm \u2014 set to become the <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/acwa-power-signs-485bln-deal-for-central-asias-largest-wind-farm-owyw12jl\" style=\"\" rel=\"noopener\">largest<\/a><a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/acwa-power-signs-485bln-deal-for-central-asias-largest-wind-farm-owyw12jl\" style=\"\" rel=\"noopener\">in Central Asia<\/a>, 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\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzIwODIvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5NzQz\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The 25-year contract for the Aral 5GW wind independent power producer project is under a build, own, operate, and transfer model. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we don\u2019t know: <\/strong>Information about the construction timeline and financing was not made public.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beating its own record:<\/strong> The Aral project \u2014 which is the 15th project by Acwa Power in Uzbekistan \u2014 beats a planned 1.5 GW wind energy farm by Acwa Power that it <a target=\"_blank\" href=\"https:\/\/climate.enterprise.press\/stories\/2023\/01\/03\/acwa-power-inks-ppa-and-financing-agreements-for-uzbekistan-wind-farm-92623\/\" style=\"\" rel=\"noopener\">said last year<\/a> would be the largest in Central Asia. It is the second agreement Acwa Power signs with Negu for a wind plant in nearly a month after it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/37882122-e8ad-490b-a75a-36f14257935b\" style=\"\" rel=\"noopener\">signed a SAR 985 mn power purchase agreement<\/a> to develop a 200 MW wind farm known as Nukus 2 as well as a battery energy storage system. This brings Acwa Power\u2019s total investments to Uzbekistan at USD 13.9 bn, with the Central Asian country becoming its second largest after Saudi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- Acwa has been busy in Uzbekistan: <\/strong>Last year, Acwa signed <a target=\"_blank\" href=\"https:\/\/climate.enterprise.press\/stories\/2023\/03\/06\/acwa-power-is-upping-its-renewables-game-in-uzbekistan-98690\/\" style=\"\" rel=\"noopener\">three power<\/a><a target=\"_blank\" href=\"https:\/\/climate.enterprise.press\/stories\/2023\/03\/06\/acwa-power-is-upping-its-renewables-game-in-uzbekistan-98690\/\" style=\"\" rel=\"noopener\">purchase agreements<\/a> totaling USD 2.5 bn with Negu and the country\u2019s Investment, Industry, and Trade Ministry for 1.4 GW worth of solar projects and three battery story facilities with capacity of 1.5 GWh. It is also <a target=\"_blank\" href=\"https:\/\/climate.enterprise.press\/stories\/2023\/01\/22\/ksas-acwa-power-will-develop-uzbekistans-first-green-hydrogen-and-green-ammonia-projects-94190\/\" style=\"\" rel=\"noopener\">set to develop<\/a> a green hydrogen plant and a green ammonia pilot project in Uzbekistan, the first of their kind in the Central Asian country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Officials in Saudi and Uzbekistan signed agreements worth USD 12 bn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/838dfecd-8c87-4ca0-bb64-f125e8e5261c\" style=\"\" rel=\"noopener\">in November<\/a> that will see the Kingdom invest in everything from energy, agriculture, chemistry and IT to pharma and infrastructure. The announcement was made as officials broke ground on a pilot green hydrogen production project implemented by Acwa Power in the Tashkent region.<\/p>\n<p class=\"tag-border-left\">DEBT WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa signed two debt financing agreements worth SAR 5.7 bn (c. USD 1.5 bn) each for <\/strong><strong>two of its 1.8 <\/strong><strong>GW c<\/strong><strong>ombined cycle power plants<\/strong> at home\u2014 Taiba 1 and Qassim 1, according to two separate disclosures to Tadawul (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lU9fb4IwEP8sfgDTQ2Nhj2xsyIIKolN5MbXclEQoKcXNffpRMDG6ubjmHu6uv39HYrIkcc4O6ZapVORsX8-rmK4HNoXe0IIJDGdPQCFy6XxmGU6PksUlwBq5FMKxHU565gDcNyDxv_gQBQMIX4JR34cpuEDv48ONZ9_hH19CJvaDWSd4fXQ93-5b1LwG_HLilcnPGxrAHyEjzJtLzJtRPYMsJJaikhzJdIvKznNR5RwzzJWflsphipGQM75DHw-4D9gWSaStWXJISyFLjSIrvSmRKyGdwktO8zHbiH3bF1IkFVezY4HtQola-tQXtWiUftWTAa0Qk3x3xur_cZVtUDobsurr1bsU2VmA6dRcZ25JxrprNCb4qaJGrMUlNSNAmQqdsMjm8yWkXtf6eO5n1mXZnc43YOmwjA!!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzIwODIvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5NzE3\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lU9fb4IwEP8sfgDTQ2Nhj2xsyIIKolN5MbXclEQoKcXNffpRMDG6ubjmHu6uv39HYrIkcc4O6ZapVORsX8-rmK4HNoXe0IIJDGdPQCFy6XxmGU6PksUlwBq5FMKxHU565gDcNyDxv_gQBQMIX4JR34cpuEDv48ONZ9_hH19CJvaDWSd4fXQ93-5b1LwG_HLilcnPGxrAHyEjzJtLzJtRPYMsJJaikhzJdIvKznNR5RwzzJWflsphipGQM75DHw-4D9gWSaStWXJISyFLjSIrvSmRKyGdwktO8zHbiH3bF1IkFVezY4HtQola-tQXtWiUftWTAa0Qk3x3xur_cZVtUDobsurr1bsU2VmA6dRcZ25JxrprNCb4qaJGrMUlNSNAmQqdsMjm8yWkXtf6eO5n1mXZnc43YOmwjA!!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzIwODIvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5NzIz\/\" style=\"\" rel=\"noopener\">here<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s on board? <\/strong>The senior debt was funded by a mix of local and international lenders, including Riyad Bank, SNB, Alinma Bank, Saudi Investment Bank, SAB, Standard Chartered and Bank of China. Acwa Power holds a 40% stake in each project. A consortium led by the Saudi Electricity Company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c2ce65ae-bed1-484a-aac4-bf6aa09897ef\/saudi-electricity-company-reports-a-32.3%2525-drop-in-net-income-in-2023\" style=\"\" rel=\"noopener\">signed power purchase agreements<\/a> worth SAR 14.6 bn for the two power stations.<\/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\/acwa-power\/\">ACWA power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/renewables\/\">RENEWABLES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/uzbekistan\/\">Uzbekistan<\/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=\"85801\" 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=\"85801\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/no-real-estate-tax-payable-if-you-effectively-sell-yourself-a-property-you-already-own-zatca\/\">\r\n                            No real estate tax payable if you (effectively) sell yourself a property you already own \u2013Zatca                        <\/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\/05\/no-real-estate-tax-payable-if-you-effectively-sell-yourself-a-property-you-already-own-zatca\/\" target=\"_blank\">\n                    Open in 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href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/no-real-estate-tax-payable-if-you-effectively-sell-yourself-a-property-you-already-own-zatca\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2164.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85802\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/no-real-estate-tax-payable-if-you-effectively-sell-yourself-a-property-you-already-own-zatca\/2164-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2164.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2164.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2164.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2164.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85801\" class=\"content-area-description single-story post-85801 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-enterpriseam-ksa tag-real-estate tag-regulation-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.828a6058-267e-4568-a691-820c71407ba6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>P<\/strong><strong>roperty owners aren\u2019t on the hook for real estate transaction tax (Rett) if <\/strong><strong>they\u2019re just moving ownership from one pocket to another<\/strong>, the Zakat and Tax Authority (Zatca) said in a <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1232.aspx\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The 5% Rett comes into effect any time an owner sells a property to someone else.<\/strong> Zatca is offering comfort to property holders that they won\u2019t be taxed in some cases where they make their real estate assets an \u201cin-kind\u201d contribution to another investment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Property owners won\u2019t be required to pay the Rett if:<\/strong><\/p>\n<ul>\n<li>They\u2019re contributing a property they own to a real estate investment fund instead of using cash to subscribe to the fund. Owners can contribute a property to a fund at any time and different kinds of real estate funds (subject to a handful of terms and conditions);<\/li>\n<li>They\u2019re transferring ownership of a property to a company in which they already hold shares.<\/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\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85803\" 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=\"85803\">\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\">Tech<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/99-of-everyone-in-saudi-has-access-to-internet-govt-data-shows-and-more-than-half-of-us-are-online-7-hours-a-day\/\">\r\n                            99% of everyone in Saudi has access to internet, gov\u2019t data shows \u2014 and more than half of us are online &gt;7 hours a day                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div 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               <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/223.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85804\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/99-of-everyone-in-saudi-has-access-to-internet-govt-data-shows-and-more-than-half-of-us-are-online-7-hours-a-day\/223-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/223.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"223.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/223.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/223.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85803\" class=\"content-area-description single-story post-85803 post type-post status-publish format-standard has-post-thumbnail hentry category-_newspack_tech tag-enterpriseam-ksa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.828a6058-267e-4568-a691-820c71407ba6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More than half of internet users in the Kingdom spent more than seven <\/strong><strong>hours a day&nbsp;<\/strong><strong>online in 202<\/strong><strong>3<\/strong>, according to the latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/216.pdf\" style=\"\" rel=\"noopener\">Saudi Internet report (pdf)<\/a>&nbsp;by the Communications, Space, and Technology Commission. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our top 10 sites <\/strong>(in order of popularity):<\/p>\n<ul>\n<li>Google<\/li>\n<li>Youtube<\/li>\n<li>X<\/li>\n<li>Facebook<\/li>\n<li>Tiktok<\/li>\n<li>Instagram<\/li>\n<li>Wikipedia<\/li>\n<li>WhatsApp<\/li>\n<li>Amazon<\/li>\n<li>Madrasati<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More than 60% of traffic in Saudi went through Chrome<\/strong>, followed by Safari at 31.9%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Internet penetration <\/strong><strong>inched up<\/strong><strong> 0.4% y-o-y to<\/strong><strong> 99%<\/strong><strong> in 2023<\/strong>, with 99.3% of men and 98.5% of women having access. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gen Z and younger millennials are the most online<\/strong>, with 100% internet penetration in the 25-29 age group. Older folks are the least, with 77.3% of people in that demographic having internet access.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Peak hours: 9pm to 11pm daily in 2023<\/strong>, with Friday of every week usually seeing the most traffic. December was 2023\u2019s busiest month in terms of internet usage. Mobile phones were the primary access point for 98.9% of users last year, followed by desktops\/laptops, tablets and others (think smartwatch, gaming platforms, e-readers). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Internet use was a mix of everything:<\/strong> Top activities online ranged from downloading apps to buying goods and services online to staying updated on news to downloading games and movies to sending emails among others. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good news for Digital Saudi: <\/strong>Online government services last year saw 95.5% usage rate last year, followed by digital banking at 73.6% and e-commerce at 63.7%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most-downloaded apps:&nbsp;<\/strong>Nafath (the Kingdom\u2019s official digital identity application), followed by online fast-fashion retailer Shein and TikTok. AlRajhi Bank had the most popular fintech app, followed by Stc Pay and Tabby. Ninja topped delivery apps, followed by HungerStation and the McDonald\u2019s app. <\/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<section id=\"85805\" 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=\"85805\">\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\">EARNINGS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/bank-aljazira-net-income-soars-47-in-1q-2024-as-transformation-plan-delivers-results\/\">\r\n                            Bank AlJazira net income soars 47% in 1Q 2024 as transformation story delivers results                        <\/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\/05\/bank-aljazira-net-income-soars-47-in-1q-2024-as-transformation-plan-delivers-results\/\" 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\/05\/bank-aljazira-net-income-soars-47-in-1q-2024-as-transformation-plan-delivers-results\/')\">\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\/05\/bank-aljazira-net-income-soars-47-in-1q-2024-as-transformation-plan-delivers-results\/\">\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=Bank AlJazira net income soars 47% in 1Q 2024 as transformation plan delivers results&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/bank-aljazira-net-income-soars-47-in-1q-2024-as-transformation-plan-delivers-results\/\">\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\/05\/bank-aljazira-net-income-soars-47-in-1q-2024-as-transformation-plan-delivers-results\/&title=Bank AlJazira net income soars 47% in 1Q 2024 as transformation plan delivers results\">\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=Bank+AlJazira+net+income+soars+47%25+in+1Q+2024+as+transformation+plan+delivers+results+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F05%2Fbank-aljazira-net-income-soars-47-in-1q-2024-as-transformation-plan-delivers-results%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\/05\/bank-aljazira-net-income-soars-47-in-1q-2024-as-transformation-plan-delivers-results\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1268.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85806\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/bank-aljazira-net-income-soars-47-in-1q-2024-as-transformation-plan-delivers-results\/1268-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1268.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1268.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1268.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1268.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85805\" class=\"content-area-description single-story post-85805 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings tag-bahri tag-bank-aljazira tag-banking tag-earnings tag-enterpriseam-ksa tag-insurance tag-logistics tag-tawuniya tag-transport 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\/.828a6058-267e-4568-a691-820c71407ba6.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">BANK ALJAZIRA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bank <\/strong><strong>AlJazira<\/strong><strong>\u2019s net income rose 47.3% y-o-y to SAR 300.4 mn in 1Q 2024 <\/strong>on the back of a 13% rise in operating income, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/4strmvtv\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. Net financing and investment income rose 11%, reflecting better income from its corporate segment, in line with the trend it posted in 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Bank AlJazira is <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/226.pdf\" style=\"\" rel=\"noopener\">pushing a transformation story (pdf)<\/a>&nbsp;designed to grow its financing while locking in better-priced feedstock through an improved deposit mix. The corporate segment was important to the bank last year and continues to be in 1Q as it looks to grow selectively in the mid- and large-sized segments and pursue \u201csmart growth\u201d in the SME segment, all with a focus on trade finance and improved risk management. <strong>It\u2019s also looking to position itself as the \u201cbank of choice for affluent customers.\u201d<\/strong><\/p>\n<p class=\"tag-border-left\">BAHRI-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>National shipping company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bahri.sa\/\" style=\"\" rel=\"noopener\">Bahri<\/a><\/strong><strong> saw its <\/strong><strong>net income<\/strong><strong> fall 8% y-o-y <\/strong><strong>in 1Q 2024 to SAR 453 <\/strong><strong>mn<\/strong>, down from SAR 492.6 mn a year earlier, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/4un36rsy\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. Revenues dropped 2.6% y-o-y to reach SAR 2.3 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the plunge:<\/strong> Bahri reported lower revenues from its oil and chemical transport units as well as logistics. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Blame it on the Houthis who have held the <\/strong><strong>Red Sea trade hostage for months<\/strong>, causing \"the biggest diversion of international trade in decades,\" according to <a target=\"_blank\" href=\"https:\/\/www.bnnbloomberg.ca\/red-sea-turmoil-sends-economic-shockwaves-far-and-wide-1.2025686\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The Houthis are looking to put pressure on Israel, but their actions have started to have an impact on some <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/most-gulf-markets-fall-geopolitical-tensions-caution-before-fed-2024-01-31\/\" style=\"\" rel=\"noopener\">Gulf markets<\/a>.<\/p>\n<p class=\"tag-border-left\">TAWUNIYA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tawuniya\u2019s net income more than doubled y-o-y to SAR 197 mn in 1Q 2024 <\/strong>on the back of \u201csignificant improvement\u201d in ins. services, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/57dta7ax\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. Its ins. revenues rose 28.7% y-o-y to SAR 4.4 bn on the back of better results from its health, automotive and general ins. lines of business. <\/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\/bahri\/\">Bahri<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/bank-aljazira\/\">Bank Aljazira<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/banking\/\">BANKING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings\/\">Earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tawuniya\/\">Tawuniya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/transport\/\">transport<\/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=\"85807\" 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=\"85807\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/nyts-tom-friedman-says-he-has-the-inside-scoop-on-saudi-us-pact\/\">\r\n                            NYT\u2019s Tom Friedman says he has the inside scoop on Saudi-US pact                        <\/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 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                   \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/nyts-tom-friedman-says-he-has-the-inside-scoop-on-saudi-us-pact\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/684.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85808\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/nyts-tom-friedman-says-he-has-the-inside-scoop-on-saudi-us-pact\/684-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/684.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"684.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/684.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/684.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85807\" class=\"content-area-description single-story post-85807 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-liv-golf tag-saudi-in-the-news tag-sports 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\/.828a6058-267e-4568-a691-820c71407ba6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It was a mixed weekend, with no single story driving the conversation on Saudi <\/strong>in the international press. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On an agreement with the US: <\/strong>Israeli media sounds more optimistic than do <a target=\"_blank\" href=\"https:\/\/foreignpolicy.com\/2024\/05\/03\/saudi-arabia-israel-deal-diplomacy\/\" style=\"\" rel=\"noopener\">Foreign Policy<\/a> and <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/05\/02\/middleeast\/us-saudi-treaty-israel-palestinian-statehood-intl\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a>, with the <a target=\"_blank\" href=\"https:\/\/www.timesofisrael.com\/us-very-close-to-bilateral-deal-with-saudis-but-it-hinges-on-israel-normalization\/\" style=\"\" rel=\"noopener\">Times of Israel<\/a> saying that Riyadh and Washington a \u201cvery close\u201d to an agreement that hinges on how normalization plays out, citing remarks by State Department spokesman Matthew Miller on Thursday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NYT columnist Thomas Friedman <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/05\/02\/opinion\/israel-saudi-arabia.html\" style=\"\" rel=\"noopener\">claims to have in inside scoop<\/a><\/strong><strong>:&nbsp;<\/strong>\u201cGet out of Gaza, freeze the building of settlements in the West Bank and embark on a three- to five-year \u2018pathway\u2019 to establish a Palestinian state,\u201d he says of Saudi\u2019s conditions. \u201cThe good news is that they are 90 percent done with the mutual defense treaty that they have drawn up, both sides tell me,\u201d he writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? \u201cThe US and the Saudis are considering finalizing the deal and taking it to <\/strong><strong>Congress<\/strong> with the stated proviso that Saudi Arabia will normalize relations with Israel the minute Israel has a government ready to meet the Saudi-US terms,\u201d Friedman writes.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bloomberg continues to up the volume of coverage it is giving the Kingdom<\/strong>, covering how <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-02\/saudi-arabia-jpmorgan-deutsche-others-ramp-up-amid-mbs-s-pressure-campaign?utm_medium=social&amp;utm_content=middleeast&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">global banks are moving staff to Riyadh<\/a>&nbsp;in the wake of the regional HQ law and the Saudi Pro League\u2019s ambition of landing <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-02\/saudi-league-home-to-ronaldo-in-talks-for-documentary-series?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">a \u201cDrive to Survive\u201d style documentary<\/a>&nbsp;with a major streaming video platform.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Liv Golf looks like it wants <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2024-05-03\/liv-golf-ceo-greg-norman-speaks-to-bloomberg-in-singapore-about-buying-golf?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">to own golf courses<\/a><\/strong><strong> \u2014 and mixed-use developments: <\/strong>\u201cThink about LIV owning all their own golf courses, each team having a home venue and they host. And now you can build out around that. It's not just a golf course. You bring in education, you bring in hospitality, you bring in real estate, you bring in merchandise, you bring in management, you bring in all these other different opportunities that the game of golf has to deliver to a community, to a region. We are gonna be doing that,\u201d said CEO and Commission Greg Norman.<\/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\/liv-golf\/\">Liv Golf<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/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=\"85809\" 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=\"85809\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/lucid-to-work-with-kacst-on-joint-research-for-ev-infrastructure-plus-tourism-ma-and-logistics\/\">\r\n                            Lucid to work with Kacst on joint research for EV infrastructure. Plus: tourism, M&amp;A 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\/05\/lucid-to-work-with-kacst-on-joint-research-for-ev-infrastructure-plus-tourism-ma-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\/05\/lucid-to-work-with-kacst-on-joint-research-for-ev-infrastructure-plus-tourism-ma-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\/05\/lucid-to-work-with-kacst-on-joint-research-for-ev-infrastructure-plus-tourism-ma-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=Lucid to work with Kacst on joint research for EV infrastructure. Plus: tourism, M&#038;A and logistics&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/lucid-to-work-with-kacst-on-joint-research-for-ev-infrastructure-plus-tourism-ma-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\/05\/lucid-to-work-with-kacst-on-joint-research-for-ev-infrastructure-plus-tourism-ma-and-logistics\/&title=Lucid to work with Kacst on joint research for EV infrastructure. 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The agreement will see them use Kacst facilities to study, test and evaluate EV batteries, autonomous driving and artificial intelligence technologies. They will also assess the performance of EVs in regards to the local weather. The joint research is scheduled for launch in 3Q 2024, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> The PIF\u2019s investments in a lower-carbon future include national electric vehicle brand Ceer and investments in US-headquartered Lucid Motors among others. Ceer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/366185a1-c8a6-4015-84d4-78d3bc757b7c\/ceer-awards-sar-5-bn-contract-for-ev-production-facility\" style=\"\" rel=\"noopener\">awarded in March<\/a> a SAR 5 bn construction contract for its electric vehicle complex to local contractor Modern Building Leaders. It <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c7c9b939-9eb5-4149-9315-0caca0657eb0\/aramex-opens-regional-hq-in-saudi-arabia\" style=\"\" rel=\"noopener\">expects to complete<\/a> works at its electric vehicle complex within two years. Lucid inaugurated last year its first overseas production facility in King Abdullah Economic City (Kaec). It plans to produce 155k EVs yearly in the Kingdom once it hits full capacity here in 2025. It <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/24d261bb-f0f8-4a49-988c-7e3eeebeaa2a\" style=\"\" rel=\"noopener\">said in March<\/a> that it is raising USD 1 bn in capital from PIF unit Ayar Third Investment. The potential proceeds will finance the company\u2019s capex and working capital, among other things.<\/p>\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICT solutions provider Perfect Presentation for Commercial Services (2P) has signed a <\/strong><strong>SAR 149 mn Shariah-compliant bank facility from Banque Saudi Fransi (BSF)<\/strong> to fund newly awarded projects, 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\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzcyMDQvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5NzQw\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The facility runs till 31 December of this year. <\/p>\n<p class=\"tag-border-left\">TOURISM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The <\/strong><strong>Saudi Tourism Investment Company (Asfar)\u2014 a wholly-owned subsidiary of the <\/strong><strong>PIF\u2014 plans to set up tourist destinations in small cities nationwide <\/strong>to bridge the gap in the hospitality sector in those areas, its CEO Fahd Ibn Mushait told <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/05\/04\/article_2723436.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a>. The move comes as part of the company\u2019s strategy to transform smaller cities into tourism and entertainment hubs through partnerships with the private sector, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Asfar is currently developing projects in Al Baha, Yanbu, Al Ahsa and Taif in collaboration with private sector players such as Aoun, Al Tamimi, Batterjee Group and others, he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Abu-Dhabi based hotel operator Rotana Hotels will launch seven hotels across <\/strong><strong>the <\/strong><strong>Kingdom over the next five years<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1724320\" style=\"\" rel=\"noopener\">Argaam<\/a> reported. The move is part of a broader expansion plan that will bring the total of Rotana-branded hotel rooms to 4.4k at 16 hotels across the Kingdom. It marked the launch of its five-year expansion strategy <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/rotana-announces-the-soft-opening-of-dar-rayhaan-by-rotana-in-al-khobar-kingdom-of-saudi-arabia-e3cd3acj\" style=\"\" rel=\"noopener\">with the opening<\/a> of its Rotana Dar Rayhaan in Al Khobar. The hotel operator currently runs a total nine hotels locally between Riyadh, Jeddah, Al Khobar and two other cities.<\/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>N<\/strong><strong>ew shipping service added to Jeddah port: <\/strong>The Saudi Port Authority (Mawani) has added a new shipping service by local feeder and short sea shipping operator Folk Maritime to Jeddah Islamic Port, according to a <a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=020524&amp;language=ar\" style=\"\" rel=\"noopener\">statement<\/a>. The shipping service \u2014 dubbed the Port Sudan Service (PSS) \u2014 will connect Jeddah Islamic Port with Port Sudan. The service, which has a capacity of up to 700 standard containers via regular weekly trips, aims to facilitate market needs and growing trade in the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND<\/strong>- Mawani has recently added <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e7fb6a3d-c6e3-4581-8982-43b2138cd4c3\/emaar,-the-economic-city-reschedules-pif%25e2%2580%2599s-usd-1-bn-loan.-plus:-capital-markets,-commodities-and-healthcare\" style=\"\" rel=\"noopener\">a new shipping service<\/a> \u2014 NRS by Folk Maritime \u2014 to its Jeddah Islamic Port to boost connectivity along ports in the North Sea. The service, which will offer a capacity of up to 1.3k TEUs, will link Jeddah Islamic Port to Yanbu Commercial Port, Neom Port, Jordan\u2019s Aqaba and Egypt\u2019s Sokhna.<\/p>\n<p class=\"tag-border-left\">M&amp;A WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taqat Mineral wants all of Bayan Al Naql: <\/strong>Taqat Mineral Trading signed a non-binding MoU to fully acquire scrap recycling firm <a target=\"_blank\" href=\"https:\/\/www.bayanalnaql.sa\" style=\"\" rel=\"noopener\">Bayan Al Naql<\/a>, 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\/ldBNC4JAEAbgX-MxdrLUtttKuiWGmoi2l1grTHB3PVjhv2-pk2Bfcxt4XnhnEEMFYpLf6op3tZK80fue2QeL2GCuFxBFBDuQ-IFLNyGZeckc5UNAfdPTALvJyqNToA5if-UhjS0N4u0shB1QsH_Lw5sh8D3PhmTkgiEYqfgEHzoEiFWNKl__vHRduzTAgI6f-P3aGLrjUYmWyz7tRak0whbGKD1L1IosK6CORT4hD8avSHA!\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTcyOC9jb21wYW55U3ltYm9sLzk1OTkvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The four-month MoU sees both parties initiating discussions on the possibility of a transaction. A binding agreement should be finalized before 1 September unless both parties agree to an extension, according to the disclosure. No further details were disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER\u2014 <\/strong>Taqat Mineral <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b157eaa5-e651-4c5e-9e50-17a6190c92be\/al-rasheed-issues-a-prospectus-for-its-upcoming-ipo-on-nomu\" style=\"\" rel=\"noopener\">rang the bell<\/a> on Nomu in March after floating a 20% stake. <\/p>\n<p class=\"tag-border-left\">DEVELOPMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi Fund for Development (SFD) is set to fund a water treatment and biogas <\/strong><strong>energy general project plant <\/strong><strong>in El Salvador<\/strong> under a freshly-inked MoU, it said in a <a target=\"_blank\" href=\"https:\/\/www.sfd.gov.sa\/en\/n751\" style=\"\" rel=\"noopener\">statement<\/a>. SFD said the MoU \u201crepresents a step towards\u201d the financing of the planned project on the Acelhuate River. It said a development loan will be provided by the SFD, with an agreement set to be signed later. No financial information or timeline for the project were disclosed. <\/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\/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\/folk-maritime\/\">Folk Maritime<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/king-abdulaziz-city-for-science-and-technology-kacst\/\">King Abdulaziz City for Science and Technology (KACST)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/lucid\/\">Lucid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-fund-for-development\/\">Saudi Fund for Development<\/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=\"85811\" 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=\"85811\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/05\/warren-buffett-praises-apple-after-trimming-positions-and-is-a-bit-freaked-out-about-ai\/\">\r\n                            Warren Buffett praises Apple after trimming positions \u2014 and is a bit freaked out about AI                        <\/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  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style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It\u2019s a quiet morning on Planet Finance<\/strong>, with no single story having dominated the markets pages over the weekend. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Warren Buffett is getting attention on both sides of the Atlantic and in Asia. <\/strong>Berkshire Hathaway\u2019s annual meeting is this weekend, and it\u2019s generating lots of headlines. <strong>Here\u2019s the Oracle of Omaha on:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Apple: <\/strong>Buffett <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/investing\/berkshire-hathaway-q1-earnings-report-2024-4ed1f9ca?mod=finance_lead_pos4\" style=\"\" rel=\"noopener\">went out of his way to praise Apple<\/a>&nbsp;\u2014 his most important holding \u2014 after Berkshire trimmed its stake. The WSJ thinks the size of the company\u2019s stake in Apple <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/stocks\/apple-is-buffetts-best-investment-its-also-now-one-of-his-riskiest-fb11f9a2?mod=finance_lead_story\" style=\"\" rel=\"noopener\">worries some investors<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Artificial intelligence: <\/strong>AI-powered scamming will be a global growth industry \u2014 and likened the technology\u2019s potential impact on the world to that of nuclear weapons <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/video\/2024\/05\/04\/warren-buffett-ai-will-turn-scams-into-the-growth-industry-of-all-time.html\" style=\"\" rel=\"noopener\">(watch, runtime: 1:29)<\/a>.<\/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\">Shares in Europe and on Wall Street closed up on Friday.<\/p>\n<p><a target=\"_blank\" id=\"t.dfb48aa8782a74a1f1b5bc864eee0c03839c8e59\" 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\">12,352<\/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: +3.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,547<\/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: -0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">26,458<\/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: +7.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,114<\/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\">+3.3% (YTD: +4.9%)<\/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\">9,037<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: -5.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,143<\/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%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,128<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3% (YTD: +7.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,213<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +9.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">+0.6% (YTD: +8.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 82.96  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.14  <\/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\">+5.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,309<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.04%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 63,919<\/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\">+1.4% (YTD: 44.3%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI rose 0.1% on Thursday <\/strong>on turnover of SAR 6.5 bn. The index is up 3.2% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Al Baha (+7.7%), Raydan (+7.3%) and Tawuniya (+6.6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Chemical (-5.4%), Marafiq (-5.2%) Zoujaj (-4.8%).<\/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> rose 0.4% on Thursday <\/strong>on turnover of SAR 77.1 mn. The index is up 7.9% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Future Care (+7.5%), NGDC (+6.3%) and Apico (+5.6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Al Rashid Industrial (-10.4%), Almuneef (-6.6%) and Taqat (-5.8%)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85813\" 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\/05\/85813\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85813\" class=\"content-area-description single-story post-85813 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\">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;\">13-15 May (Monday-Wednesday): Poultry 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;\">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: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: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;\">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: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:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-13 December (Monday-Friday): Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2024:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">The AFC Champions League Elite<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-13 February (Monday-Thursday): Leap 2025, the Kingdom\u2019s premier tech investment conference.<\/span><\/p>\n\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>US security pact: Deal or no deal? | Real estate tax regulation tweaks | We\u2019re online 7 hours a day | Warren Buffett is freaked about AI<\/p>\n","protected":false},"featured_media":85787,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-85786","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"34eeae62-9378-4378-8069-5e347535f231","teaser":"US security pact: Deal or no deal? | Real estate tax regulation tweaks | We\u2019re online 7 hours a day | Warren Buffett is freaked about AI","photo_url":"https:\/\/ent.news\/2024\/4\/1386.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>Fakeeh Care IPO fully covered, set to be Saudi\u2019s largest listing so far this year - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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