{"id":85940,"date":"2024-05-08T00:00:00","date_gmt":"2024-05-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=85940"},"modified":"2025-12-14T18:02:54","modified_gmt":"2025-12-14T18:02:54","slug":"aramco-will-boost-dividend-payments-this-year-even-as-1q-earnings-slump","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/aramco-will-boost-dividend-payments-this-year-even-as-1q-earnings-slump\/","title":{"rendered":"Aramco will boost dividend payments this year even as 1Q earnings slump"},"content":{"rendered":"<section id=\"85942\" 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=\"85942\">\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\/08\/saudi-nationals-dont-need-appointments-for-french-visa-applications\/\">\r\n                            THIS MORNING: Aramco isn\u2019t slashing dividends. Plus: Saudi nationals don\u2019t need appointments for French visa applications                        <\/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\/08\/saudi-nationals-dont-need-appointments-for-french-visa-applications\/\" 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\/08\/saudi-nationals-dont-need-appointments-for-french-visa-applications\/')\">\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\/08\/saudi-nationals-dont-need-appointments-for-french-visa-applications\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Saudi nationals don\u2019t need appointments for French visa applications&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/saudi-nationals-dont-need-appointments-for-french-visa-applications\/\">\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\/08\/saudi-nationals-dont-need-appointments-for-french-visa-applications\/&title=Saudi nationals don\u2019t need appointments for French visa applications\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Saudi+nationals+don%E2%80%99t+need+appointments+for+French+visa+applications+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F08%2Fsaudi-nationals-dont-need-appointments-for-french-visa-applications%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\/08\/saudi-nationals-dont-need-appointments-for-french-visa-applications\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85942\" class=\"content-area-description single-story post-85942 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-enterpriseam-ksa tag-hospitality tag-mohammed-bin-salman tag-nomu tag-qomel tag-real-estate 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\/.18c1b215-16c0-4156-8136-cb112158d63a.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>It\u2019s another very busy morning for news, but there\u2019s one clear lead story: Aramco, which signaled it will pay higher dividends this year than last (when accounting for special dividends) despite dip in first-quarter profitability. <\/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>WEATHER-<\/strong><strong>Riyadh<\/strong> will be windy today with a high of 35\u00b0C and a low of 24\u00b0C. Meanwhile, <strong>Makkah<\/strong> is going to see a hotter day with a high of 40\u00b0C and a low of 23\u00b0C. <strong>Al Taif<\/strong> will be nice and sunny with a high of 30\u00b0C and a low of 17\u00b0C<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh\u2019s <\/strong><strong>drainage system now has seven new flood and rainwater drains, covering about <\/strong><strong>55% of the capital city<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/05\/06\/article_2724021.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> quotes Riyadh Governor Faisal bin Bandar Al Saud and Riyadh Municipality official Al Walid Al Akrash as saying. The new arteries on the drainage system cost some SAR 2.4 bn and another 12 projects at an estimated cost of SAR 3.9 bn are underway.<\/p>\n<p class=\"tag-border-left\">HAPPENING TOMORROW-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Healthcare outfit Qomel will ring the bell <\/strong><strong>on parallel<\/strong><strong> market Nomu tomorrow to mark the <\/strong><strong>first day of trading on its<\/strong><strong> shares<\/strong>, Tadawul said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details\/!ut\/p\/z1\/vVLLdoIwEP2WLrrkZHiFuKQv1INViqiw4aQQbFoIqKn08xu1C_X4aDfNau6cO7kzcwclaIYSQdd8TiWvBS0VjhOc2i4Go0tg6I19HYKJ45NJMNahZ6EJSlCSCdnINxRLmtP2s0yZuIUV1X7gNm6WPGMrKnIucqaibVKwdhdUdPnB5A5mcg9qBhgW2OBoJV9JLuYbubLOaMlQzMQGNRnPUYyx3bGM10JjOs01CxeFRkxsabmjM0ZoBxMAND2chgw8DMGzGwwNxwZvAii5POxRPYQjG4Kn0cD04QU8wL-rhzPPvaofqolj9YdzluQqkTVnLYpEvayUgeEfV6TY0_tBGkSPL0ppb9NdQP1r_alr4e-LReKqk6iFZF8Szf7jJqabtvdbG7odRznTv_N6vmsS7BwTTlh_SDjh7ZZwwbymqohZaVE0a9sxi9MHvwh73L35Bsri4GQ!\/dz\/d5\/L2dBISEvZ0FBIS9nQSEh\/?locale=en\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. Qomel\u2019s IPO was 2.75 oversubscribed earlier this month after qualified investors placed their orders on 21-25 April at a set price of SAR 80 apiece. Qomel is offering a 14.3% stake on Nomu.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>Tadawul will host the Hong Kong edition of its flagship markets conference.<\/strong> The two-day event continues on Friday and will see a mix of plenary sessions and one-on-one sessions between investors and listed companies. <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/64a8be1f-f047-4b14-aa4e-65d64fe813af\/\" style=\"\" rel=\"noopener\">Tap or click here<\/a><\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/64a8be1f-f047-4b14-aa4e-65d64fe813af\/\" style=\"\" rel=\"noopener\">for the full rundown<\/a> and a link to the agenda for the invite-only event.<\/p>\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>R<\/strong><strong>emittances from expats living in the Kingdom rose 4% y-o-y to c.SAR 12 bn (USD <\/strong><strong>2.3) in<\/strong><strong> March<\/strong>, hitting their highest level since June 2022, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1725333\" style=\"\" rel=\"noopener\">Argaam<\/a> reports, citing Saudi Central Bank (SAMA) data. Meanwhile, remittances from Saudi nationals to other countries fell 9% y-o-y to SAR 5.1 bn during the month.<\/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- Crown Prince Mohammed bin Salman could visit Pakistan sometime this <\/strong><strong>month<\/strong>, Pakistan\u2019s <a target=\"_blank\" href=\"https:\/\/dunyanews.tv\/en\/Pakistan\/810120-Saudi-Crown-Prince-MBS-to-visit-Pakistan-soon,-says-FM-Dar\" style=\"\" rel=\"noopener\">Dunya News<\/a> quotes Pakistan\u2019s Deputy Prime Minister and Foreign Minister Ishaq Dar as saying. Dar was speaking as a delegation of senior Saudi officials wraps up a visit to Pakistan during which they attended a two-day investment conference. Meetings between private Saudi players and Pakistani counterparts were \u201cvery productive,\u201d Dar is quoted as saying. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s been a lot of traffic between Riyadh and Islamabad of late: <\/strong>Foreign Minister Prince Faisal bin Farhan visited Pakistan <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d2cc076a-3ccd-4038-b2dc-874b485fd02a\" style=\"\" rel=\"noopener\">last month<\/a> nearly a week after Pakistan\u2019s prime minister <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/saudi-crown-prince-meets-pakistani-premier-stresses-india-pakistan-dialogue-2024-04-08\/\" style=\"\" rel=\"noopener\">discussed a USD 5 bn investment package<\/a> during a meeting in Makkah with the Crown Prince. Saudi has been among key backers of crisis-hit Pakistan, which is now struggling with depleted reserves. The Kingdom has <a target=\"_blank\" href=\"https:\/\/www.arabnews.pk\/node\/2417451\/pakistan\" style=\"\" rel=\"noopener\">extended the term<\/a> of a USD 3 bn in deposit at the State Bank of Pakistan for an additional year, maturing in December this year. Pakistan also <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/saudi-arabia-deposits-2-bln-pakistan-central-bank-account-pakistan-finance-2023-07-11\/\" style=\"\" rel=\"noopener\">received last year<\/a> USD 2 bn in financial assistance from the Kingdom to shore up finances.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Fawry eyes Saudi expansion:<\/strong> EGX-listed fintech giant Fawry, the largest e-payments and digital financial solutions player in Egypt, is in talks with as many as six Saudi companies on a potential partnership as the firm looks to expand into the kingdom, Fawry CEO Ashraf Sabry told <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1787808764847915505\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#3- Real estate developers can now apply for off-plan project licenses online <\/strong>through the e-platform for Wafi, the Municipal, Rural Affairs and Housing Ministry\u2019s off-plan sales and leasing arm, the Real Estate General Authority said in a <a target=\"_blank\" href=\"https:\/\/rega.gov.sa\/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2-%D8%A7%D9%84%D8%A7%D8%B9%D9%84%D8%A7%D9%85%D9%8A\/%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1-%D8%AA%D8%B9%D9%84%D9%86-%D8%A8%D8%AF%D8%A1-%D8%A7%D8%B3%D8%AA%D9%82%D8%A8%D8%A7%D9%84-%D8%B7%D9%84%D8%A8%D8%A7%D8%AA-%D8%AA%D8%B1%D8%AE%D9%8A%D8%B5-%D8%A7%D9%84%D9%85%D8%B4%D8%A7%D8%B1%D9%8A%D8%B9-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D8%AE%D8%A7%D8%B1%D8%B7%D8%A9-%D8%A8%D8%A7%D9%84%D8%AA%D8%B2%D8%A7%D9%85%D9%86-%D9%85%D8%B9-%D9%86%D8%B4%D8%B1-%D8%A7%D9%84%D9%84%D8%A7%D8%A6%D8%AD%D8%A9-%D8%A7%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0%D9%8A%D8%A9-%D9%84%D9%84%D9%86%D8%B8%D8%A7%D9%85-%D8%A8%D8%B9%D8%AF-%D8%A7%D8%B9%D8%AA%D9%85%D8%A7%D8%AF%D9%87%D8%A7\/?page=1&amp;search=&amp;sort=\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. Applicants should pass a qualification program, present a feasibility study on the project, as well as details on how it will be financed and delivery dates to obtain the license. They should also present proof of the project meeting requirements for building permits. The move aims to regulate the sector, reduce irregularities, and increase supply of offered real estate projects across the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- There\u2019s growing interest in off-play sales:<\/strong> Some 47 off-plan sales projects were licensed in the first six months of 2023, a 50% increase over the same period a year earlier, according to Wafi <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2359636\/business-economy\" style=\"\" rel=\"noopener\">figures<\/a>. S&amp;P Global <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a29090e7-d1d0-400c-936d-532112f2490e\" style=\"\" rel=\"noopener\">said in March<\/a> that a better regulated off-plan industry in Saudi would fuel demand.<\/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- Hotel operator <\/strong><strong>BWH<\/strong><strong> \u2014 which owns the Best Western Hotels brand \u2014 is <\/strong><strong>looking to add 40 hotels in the Kingdom to its portfolio <\/strong><strong>by the end of 2028<\/strong> and is eyeing franchise or management agreements to reach that target, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/business\/tourism\/atm-2024-hotel-groups-sign-up-for-more-action-in-saudi-arabia-1.1715071165724\" style=\"\" rel=\"noopener\">Gulf News<\/a> quotes EMEA Vice President Wytze van den Berg as saying on the sidelines of the ongoing Arabian Travel Market in Dubai. \u201cWe find there is still quite good demand for hotels especially in the western parts of the country. Riyadh continues to perform well as a destination, and we see that continuing given the government spending that\u2019s backing it up.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BWH\u2019s first hotel in Makkah is coming next year:<\/strong> The hotel group recently landed its first three hotel towers in Makkah, with 150 keys each. \u201cThe opening will likely be in 3Q 2025, and we will have three separate brands take care of the hotels,\u201d van den Berg said.<\/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>#5- What\u2019s missing from Saudi\u2019s real estate market? Luxurious residential towers<\/strong>, Cheval Collection\u2019s director of development and acquisitions, Daniel Johansson, told <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1725351\" style=\"\" rel=\"noopener\">Argaam<\/a> on the sidelines of the Future Hospitality Summit. Johansson pointed to \u201cthe fact that hotels in Riyadh are fully booked on event and conference days\u201d as an indication that luxury residential towers are lacking in the market. Cheval Collection is set to open the doors to a luxury residential tower, Cheval Ladun Living, in Riyadh in 2027, Johansson said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> S&amp;P Global <a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/3b9bbf2a-2d55-4062-ac1d-9878060846b5\/saudi-restate-developers-need-to-put-the-pedal-to-the-metal-to-keep-pace-with-demand,-says-s&amp;p-global\" style=\"\" rel=\"noopener\">said earlier this week<\/a> that real estate developers in the Kingdom need to ramp up supply to keep pace with growing market demand \u2014 particularly in the capital and Jeddah \u2014 as their populations grow. S&amp;P expects that demand will outstrip supply in Riyadh in particular, where real estate supply is already tight.<\/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>#6- The government is looking to triple current polymer production levels and increase <\/strong><strong>exports fivefold by 2035<\/strong>, Deputy Minister for Industry Affairs Khalil Ibrahim bin Salamah tells <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1725307\" style=\"\" rel=\"noopener\">Argaam<\/a>. The plans include using more than 4 mn bbl of oil for petrochemical production, \u201cwhich will significantly boost local manufacturing,\u201d Salamah is quoted as saying.<\/p>\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- Don\u2019t have a Hajj permit? Steer clear of Makkah during the season unless <\/strong><strong>you\u2019re <\/strong><strong>a resident of the city:&nbsp;<\/strong>Expats and citizens found in Makkah and designated areas within the city without providing a Hajj permit or proof of residency in the Holy City will face a SAR 10k fine, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2097594\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported. Expats will also be deported and banned from entering the Kingdom for an unspecified period of time. The rules will be in effect from Sunday, 2 June until Thursday, 20 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3- Saudi citizens can now apply for a visa to France at VFS centers without <\/strong><strong>booking an<\/strong><strong> appointment<\/strong>, the French embassy said in a <a target=\"_blank\" href=\"https:\/\/sa.ambafrance.org\/%D8%A7%D8%B3%D8%AA%D8%AD%D8%AF%D8%A7%D8%AB-%D8%AE%D8%AF%D9%85%D8%A9-%D8%A7%D9%84%D8%AF%D8%AE%D9%88%D9%84-%D9%85%D9%86-%D8%AF%D9%88%D9%86-%D9%85%D9%88%D8%B9%D8%AF-%D9%84%D9%84%D9%85%D9%88%D8%A7%D8%B7%D9%86%D9%8A%D9%86\" style=\"\" rel=\"noopener\">statement<\/a>. The new walk-in service is available for Saudi nationals at VFS centers in Riyadh and Dammam, with 100 appointments available per day in Riyadh and 50 per day in Dammam. Applicants are admitted on a first-come, first served basis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Businesses can issue seasonal contracts for temporary workers during the Hajj <\/strong><strong>seasons<\/strong> as part of the Human Resources and Social Development Ministry\u2019s Ajeer Al Hajj service, reports <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2097352\" style=\"\" rel=\"noopener\">state-run SPA<\/a>. The service will also connect job seekers with available positions through an online portal. <\/p>\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Hilal solidified its position at the top of the Saudi Pro League with a 2-1 victory against <\/strong><strong>Al <\/strong><strong>Ahli Saudi.<\/strong> A goal by Aleksandar Mitrovic reversed Al-Ahli\u2019s lead in the first half, while Malcom sealed the victory with a decisive goal in the final minute. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Second-place Al Nassr is now 12 points behind Al Hilal<\/strong> in the standings, while Al Ahli Saudi is third in the league.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Matchday 31 of 34 kicks off tomorrow, with the following fixtures:<\/strong><\/p>\n<ul>\n<li>Al Feiha vs. AlFateh at 6pm;<\/li>\n<li>Al Riyadh vs. Al Taawoun at 6pm;<\/li>\n<li>Al Akhdoud vs. Al Nassr at 9pm.<\/li>\n<\/ul>\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?&nbsp;<\/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\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a busy morning on the front pages <\/strong>of the world\u2019s business press. <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/israeli-forces-seize-key-gaza-crossing-ahead-of-planned-rafah-offensive-45c4d31b?mod=hp_lead_pos3\" style=\"\" rel=\"noopener\">Truce talks<\/a> between Hamas and Israel continue even as <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/rafah-live-israel-takes-control-gazas-rafah-crossing-2024-05-07\/\" style=\"\" rel=\"noopener\">Israeli forces took over control of the Rafah<\/a> crossing into Egypt, a key port of entry for humanitarian aid.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Wall Street Journal is leading with Stormy Daniels\u2019 \u201c<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/us-news\/law\/porn-star-stormy-daniels-to-testify-at-donald-trumps-hush-money-trial-ee9f8ce6?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">salacious details of her alleged<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/us-news\/law\/porn-star-stormy-daniels-to-testify-at-donald-trumps-hush-money-trial-ee9f8ce6?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">tryst<\/a><\/strong><strong>\u201d <\/strong>with former US President Donald Trump, but gives more prominence to <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/saudi-arabia-neom-line-construction-99b3f54f\" style=\"\" rel=\"noopener\">a deep look at The Line<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong>The US will no longer allow Intel and Qualcomm to <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cf965960-b083-49ee-bae1-6ce95fe872a3\" style=\"\" rel=\"noopener\">sell chips to Huawei<\/a>, the Dow has now posted its <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/06\/stock-market-today-live-updates.html\" style=\"\" rel=\"noopener\">longest streak in the green<\/a> since December, and Semafor reports on the pipeline that\u2019s now driving Wall Street financial firms to <a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/05\/07\/2024\/military-generals-report-for-duty-on-wall-street\" style=\"\" rel=\"noopener\">load up on former military brass<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FOR OUR FELLOW TECH NERDS- Apple finally moved the iPad\u2019s FaceTime camera to the <\/strong><strong>long edge <\/strong>as it launched a redesign of the iconic gadget that also leapfrogged the M3 generation of processors straight to M4. The Verge notes that the tablet is <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/24151128\/apple-ipad-pro-2024-hands-on\" style=\"\" rel=\"noopener\">super-thin<\/a>&nbsp;and that the Pro\u2019s new keyboard case aims to make it <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2024\/5\/7\/24146311\/apple-updates-magic-keyboard-ipad-pro-event\" style=\"\" rel=\"noopener\">feel \u201cjust like a MacBook.\u201d<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Google launched yesterday its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2024\/5\/7\/24150360\/google-pixel-8a-price-specs-camera-best-take-magic-editor\" style=\"\" rel=\"noopener\">Pixel 8A<\/a><\/strong>&nbsp;phone, a midrange device that packs most of the power of the Pixel 8 and 8 Pro into a package that will now include seven years of software updates. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FINALLY- OpenAI is getting into the AI search game<\/strong>, developing a product to rival Google, Bing, and Perplexity, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-07\/openai-is-readying-an-ai-search-product-to-rival-google-perplexity\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. The ChatGPT maker is also reportedly poaching Google staff for the project, per <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2024\/5\/7\/24151616\/openai-is-entering-the-search-game\" style=\"\" rel=\"noopener\">the Verge<\/a>.<\/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>Are you subject to withholding tax?<\/strong> You have until Sunday, 12 May to submit and pay withholding taxes for April, according to a <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/ar\/MediaCenter\/News\/Pages\/news_1233.aspx\" style=\"\" rel=\"noopener\">Zatca statement<\/a>. Late payers will face a fine equivalent to 1% of unpaid fees for every 30 days of delay. <\/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:\/\/events.meed.com\/event\/saudigigaprojects\/\" style=\"\" rel=\"noopener\">Saudi Giga Projects Summit<\/a><\/strong><strong> will open next Monday, 13 May<\/strong> at the Hilton Riyadh Hotel and Residences. The Meed event will showcase Saudi\u2019s USD 870 bn giga projects drive. It brings together contractors, suppliers and relevant stakeholders from the region and elsewhere for discussions on potential investments.<\/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:\/\/events.meed.com\/event\/menaconstructionsummit\/\" style=\"\" rel=\"noopener\">MENA Construction Summit<\/a><\/strong><strong> will kick off next Tuesday, 14 May<\/strong> at the Hilton Riyadh Hotel &amp; Residences. Also organized by Meed, the one-day event will bring together developers, contractors, key executives and others to discuss the latest innovations in the construction industry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Red Sea Fashion Week will make its debut on Thursday, 16 May and run until Saturday, <\/strong><strong>18 <\/strong><strong>May <\/strong>at the St. Regis Red Sea Resort, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2096864\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>. The event, organized by the <a target=\"_blank\" href=\"https:\/\/fashion.moc.gov.sa\/en\" style=\"\" rel=\"noopener\">Saudi Fashion Commission<\/a>, will feature an opening show on the first day, followed by two days of runway shows showcasing collections from both Saudi and international designers.<\/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\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mohammed-bin-salman\/\">Mohammed bin Salman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nomu\/\">Nomu<\/a>\n        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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=\"85944\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/aramco-reports-lower-net-income-in-1q-2024-but-looks-on-track-to-boost-this-years-dividend\/\">\r\n                            Aramco reports lower net income in 1Q 2024, but looks on track to boost this year\u2019s dividend                        <\/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\" 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2262.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2262.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2262.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2262.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85944\" class=\"content-area-description single-story post-85944 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-aramco tag-earnings-watch tag-enterpriseam-ksa tag-oil tag-opec-2 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\/.a354a9ce-671c-4072-9377-fa4681d73dd0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Aramco\u2019s net income fell 14.4% <\/strong><strong>y-o-y<\/strong><strong> to SAR 102.3 bn (USD 27.3 bn) in 1Q <\/strong><strong>2024<\/strong>, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/386.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company\u2019s revenues during the quarter dipped 3.7% y-o-y to SAR 402.0 bn (USD 107.2 bn), which it attributed to lower crude oil sales and falling refining and chemicals margins. The lower income was, however, \u201cpartially offset by lower production royalties and an increase in crude oil prices,\u201d the company said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors will be happy: Dividends <\/strong><strong>will get richer<\/strong><strong>:&nbsp;<\/strong>The oil giant will pay out SAR 76.1 bn (USD 20.3 bn) in base dividends on its 1Q 2024 earnings, as well as SAR 40.5 bn (USD 10.8 bn) as a performance-linked dividend, which will be paid out in 2Q 2024, 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\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC8yMjIyL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5ODM0\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The company said it expects to pay SAR 466.2 bn (USD 124.3 bn) in dividends in 2024, including SAR 161.7 bn (USD 43.1) bn that will be performance-linked. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s a big shift: <\/strong>Profitability is down, but the company is now aiming to pay out total dividends worth about 30% more than last year, when it reported its second-highest net profit ever.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The government relies heavily on Aramco\u2019s dividend to bridge the budget deficit and finance its diversification away from oil \u2014 oil accounts for about 75% of government revenues at present.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Capex rose c.24% y-o-y in 1Q 2024 to SAR 40.6 bn (USD 10.8 bn)<\/strong>, as Aramco continued to capitalize on \u201cunique growth opportunities,\u201d mainly in upstream liquids and gas, downstream liquids to chemicals, and new energies such as renewables, lower-carbon fuels, and blue ammonia and hydrogen.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cashflow fell a bit more than <\/strong><strong>26%<\/strong><strong>y-o-y<\/strong><strong> to SAR 85.4 bn (USD 22.8 bn) in 1Q 2024<\/strong> on the back of weaker earnings and \u201cunfavorable movements\u201d in its working capital. Expenditures increased by SAR 7.8 bn in the same period as the company looked to maintain a maximum sustainable capacity of 12 mn barrels per day (bbl \/ d), while maintaining output at 9 mn bbl \/ d.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More production incoming:&nbsp;<\/strong>The Marjan and Berri crude oil increments \u2014 expected to add crude oil production capacities of 300k bbl \/ d and 250k bbl \/ d \u2014 are on track and forecasted to be onstream by next year. Construction on the Dammam development project also remained on track and is expected to add 25k bbl \/ d to crude oil production in 2024, and 50k bbl \/ d come 2027. This means that Aramco will be adding more than 1 mn bbl \/ d in crude oil production capacity by 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> The company said it leveraged operational efficiency and an improved market to generate strong results despite lower sales volumes amid OPEC+ output cuts. \u201cIn the first quarter [Aramco] made significant progress on expanding our gas business and growing our globally-integrated downstream value chain, while maintaining our focus on consistently delivering value for our shareholders,\u201d said President and CEO Amin Nasser. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Downstream operations refer to Aramco\u2019s refining and marketing of their product, while upstream operations refer to exploration and production. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No material impact PIF increasing its stake: <\/strong>Sovereign wealth fund PIF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/27c8534c-1cc4-40c9-a7c7-061f695a9404\" style=\"\" rel=\"noopener\">doubled up its stake in Aramco to 16%<\/a> back in March, which Aramco says did not affect its total number of issued shares nor its operations, strategy or dividend distribution policy, maintaining that the Saudi government holds its largest stake at 82.19% in direct shareholding. <\/p>\n<p class=\"tag-border-left\">OTHER 1Q HIGHLIGHTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco increased VC funding for its Aramco Ventures by SAR 15 bn<\/strong>, half of which will be earmarked for non-energy \u201cdisruptive technologies,\u201d while the other half will go towards larger late-stage investments in sustainability and digital domains. This brings the total investment funds in its VC programs to SAR 28.1 bn, including Wa\u2019ed Ventures, which recently participated in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0bba0ca7-725b-499b-86ed-da5111d00e74\/robo-advisor-abyan-capital-closes-series-a-round\" style=\"\" rel=\"noopener\">SAR 68 mn series A round<\/a> for Robo-advisory Abyan Capital. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong><\/p>\n<ul>\n<li>Aramco acquired a minority stake in <strong>MidOcean Energy<\/strong> in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6daa8e9c-1944-49a5-aa9e-44b3c11c414a\/aramco,-mapei-get-regulatory-approvals-for-separate-mergers-in-kuwait\" style=\"\" rel=\"noopener\">USD 500 mn transaction<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a98144c8-7b43-48fc-b6b9-945284fe8123\/aramco-wraps-up-its-acquisition-of-chile%25e2%2580%2599s%253cmark%253e-esmax%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">closed its acquisition<\/a> of a 100% equity stake in Chile\u2019s fuel distributor <a target=\"_blank\" href=\"https:\/\/www.esmax.cl\/\" style=\"\" rel=\"noopener\">Esmax Distribuci\u00f3n<\/a> ;<\/li>\n<li>The company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ac89b719-2b25-4f9f-aef1-cefc0a2eecf8\/aramco-pushes-ahead-with-usd-7.7-bn-fadhili-natural-gas-plant-expansion\" style=\"\" rel=\"noopener\">awarded USD 7.7 bn<\/a> in engineering, procurement and construction (EPC) contracts to expand its <strong>Fadhili gas plant<\/strong> in the Eastern Province;<\/li>\n<li>It was also made <strong>FIFA\u2019s Major Worldwide Partner<\/strong> after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e59c67b4-c089-43e9-8edc-9fdb13d2fcfc\/blinken-due-in-town-as-world-economic-forum%25e2%2580%2599s-special-riyadh-meeting-gets-underway\" style=\"\" rel=\"noopener\">signing a four-year global partnership<\/a>, securing rights to major tournaments including the Fifa World Cup 2025 and Fifa Women\u2019s World Cup 2027. <\/li>\n<\/ul>\n<p class=\"tag-border-left\">MOVES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New board members: <\/strong>Shareholders of Aramco approved the appointment of Economy and Planning Minister <strong>Faisal Alibrahim<\/strong> as a member of the board, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyAgI9INT8_QLckMjDDIDcsN1HRUBQR0L9w!!\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTgzNS9jb21wYW55U3ltYm9sLzIyMjIvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">separate disclosure to Tadawul<\/a> yesterday. Former BP CEO <strong>Bob Dudley<\/strong> will also join the board. The new board\u2019s three-year term \u2014 which sees the reelection of PIF boss Yassir Al Rumayan and former cabinet member Ibrahim Al Assaf as chairman and deputy chairman \u2014 will begin on 1 July this year and end on 30 June, 2027.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil\/\">Oil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/opec-2\/\">OPEC+<\/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=\"85946\" 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=\"85946\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/pif-unit-eyes-controlling-stake-in-egypts-leading-education-company-with-view-to-turning-it-into-a-regional-platform\/\">\r\n                            PIF unit eyes controlling stake in Egypt\u2019s leading education company with view to turning it into a regional platform                        <\/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\/08\/pif-unit-eyes-controlling-stake-in-egypts-leading-education-company-with-view-to-turning-it-into-a-regional-platform\/\" 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 transaction is the first investment by the Saudi Egyptian Investment Company (SEIC) since Egypt floated its currency earlier this spring.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the transaction? <\/strong>SEIC, a wholly-owned PIF subsidiary, will buy into Social Impact Capital (SIC), the vehicle through which the founding El Kalla family holds a controlling take in EGX-listed CIRA Education, the nation\u2019s leading private-sector education company. SIC will use the cash injection to launch a mandatory tender offer to buy CIRA shares at a price of EGP 14 each, the two companies said in a joint <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/411.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIRA shares closed up 9.8% yesterday at EGP 14.00<\/strong>, giving the company a market cap of a bit under EGP 8.2 bn, by our math. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Egypt has the rundown on the transaction<\/strong>, a test case for how Egyptian officials will move on critical regulatory and other approvals on a high-profile transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- The PIF has already deployed substantial capital in Egypt. <\/strong>The fund \u2014 which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/43da5fe1-bc9d-4ed3-b816-afc38d7a9962\/saudi-arabia%25e2%2580%2599s-public-investment-fund-ranked-as-world%25e2%2580%2599s-top-sovereign-wealth-fund-big-spender-in-2023\" style=\"\" rel=\"noopener\">ranked<\/a> as the world\u2019s highest-spending sovereign wealth fund in 2023 \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/316415e5-ccc3-42ca-b442-80dd3b8b2e16\" style=\"\" rel=\"noopener\">invested<\/a>&nbsp;over USD 1.3 bn via SEIC to acquire stakes in state-held EGX-listed companies in 2022. Its holdings here include a 25% stake in Mopco, a 19.82% stake in Abu Qir Fertilizers, a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/580af8a9-0b28-47e9-8cb0-043811c265a6\" style=\"\" rel=\"noopener\">27% stake in E-finance<\/a>, and a 20% stake in Alexandria Container and Cargo Handling.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Rothschild &amp; Co is advising PIF, with Allen &amp; Overy and our friends at Matouk Bassiouny doing legal duties. Our friends at EFG Hermes are advising El Kalla family, while White &amp; Case is legal counsel, we\u2019re told.<\/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\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85948\" 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=\"85948\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/horizon-educational-inches-closer-to-an-ipo-on-nomu\/\">\r\n                            Horizon Educational sets IPO guiding price range ahead of booking investor orders next week                        <\/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\/08\/horizon-educational-inches-closer-to-an-ipo-on-nomu\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/horizon-educational-inches-closer-to-an-ipo-on-nomu\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/horizon-educational-inches-closer-to-an-ipo-on-nomu\/&title=Horizon Educational inches closer to an IPO on Nomu\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Horizon+Educational+inches+closer+to+an+IPO+on+Nomu+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F08%2Fhorizon-educational-inches-closer-to-an-ipo-on-nomu%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/horizon-educational-inches-closer-to-an-ipo-on-nomu\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/129.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85949\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/horizon-educational-inches-closer-to-an-ipo-on-nomu\/129-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/129.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"129.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/129.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/129.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85948\" class=\"content-area-description single-story post-85948 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-capital-markets tag-ipo-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\/.47b09d80-9187-4daf-8bdf-df8e10c55030.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>S<\/strong><strong>chool operator Horizon Educational<\/strong><strong> is guiding on a price range of SAR <\/strong><strong>48-54 apiece for its IPO on parallel market Nomu<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZBND4IwDIZ_iweutCIgesOoGD8iSoy4ixk6JwlsBKfEf-_UE4mivTV9nrdNgUAMRNBbyqlKpaCZ7nfE3Tu-i9bEw2Uwtka4GvcGq-EoaOPMhm0dwCh0NBAuOnNcY4AukH98_FI-_vZJHflwwQtoWtG4JOjCFAjPZPL-x1mpom-ggYoeaXXNDB1wkHlBxT2654nUUBst-4n6Iul4HEjJTqxkpXkt9fDpX14BVVWZXEqeMVMH6JwPylleFMR1EiImoMg3MaZhvvWUk9h-6wHygaMO\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTg0Mi9jb21wYW55U3ltYm9sLzEwMjQvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a filing to the exchange<\/a>. The company is taking <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/95215e1a-888d-431c-bb69-1cac75c1bc8f\/some-300-uk-companies-are-heading-to-riaydh-in-may-2024-for-a-gov%25e2%2580%2599t-investment-conference\" style=\"\" rel=\"noopener\">a 20% stake to market<\/a> by issuing 500k new shares. At the top of the range, that would give the company a post-IPO market cap of SAR 135 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Horizon Educational:<\/strong> Established in 2007, Horizon Educational provides pre-school, kindergarten, primary, middle and secondary education for male and female students at its two educational complexes in Riyadh\u2019s Al Wurud and Al Olaya districts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Proceeds + valuation: <\/strong>The price range could see the offering generate up to SAR 27 mn in proceeds, according to our calculations. Some SAR 2.3 mn of that figure will be used to cover the offering\u2019s expenses, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/406.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a>. The remainder will be earmarked for financing the company\u2019s expansion plan, which includes acquiring new branches and ramping up capacity for 1k additional students in Al Olaya campus and 2.5k additional students in Al Wurud.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>Qualified investors will be able to place orders starting from Sunday, 12 May through to Monday, 20 May, for a minimum of 10 shares and a maximum of 125k shares each. The final allotment will then follow on Sunday, 26 May.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A snapshot of its 2023 <\/strong><strong>earnings:&nbsp;<\/strong>Horizon Educational\u2019s net income grew 25% y-o-y to SAR 8.9 mn last year and revenues were up 13.7% y-o-y to SAR 36.8 mn in FY 2023, which ends on 30 June. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Post-IPO ownership structure + lock-up period:<\/strong> The ownership of the two substantial shareholders will settle at a combined 71.3% stake after the sale, down from 89.1%.Their shares will remain locked up for a period of 12 months from the first day of trading. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- Yaqeen Capital<\/strong> is quarterbacking the transaction as financial advisor and lead manager, while <strong>RSM<\/strong> is providing counsel. Receiving agents include <strong>Alistithmar Capital, Alinma Investment, SNB Capital, AlJazira Capital, Riyadh Capital, ANB Capital, Albilad Capital, Al Rajhi Capital, Derayah, and Saudi Fransi Capital<\/strong>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85950\" 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=\"85950\">\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\">CABINET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/cabinet-approves-tax-exemptions-for-industrial-inputs\/\">\r\n                            Cabinet approves tax exemptions for industrial inputs                        <\/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\/08\/cabinet-approves-tax-exemptions-for-industrial-inputs\/\" 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\/08\/cabinet-approves-tax-exemptions-for-industrial-inputs\/')\">\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\/08\/cabinet-approves-tax-exemptions-for-industrial-inputs\/\">\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=Cabinet approves tax exemptions for industrial inputs&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/cabinet-approves-tax-exemptions-for-industrial-inputs\/\">\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\/08\/cabinet-approves-tax-exemptions-for-industrial-inputs\/&title=Cabinet approves tax exemptions for industrial inputs\">\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=Cabinet+approves+tax+exemptions+for+industrial+inputs+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F08%2Fcabinet-approves-tax-exemptions-for-industrial-inputs%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\/08\/cabinet-approves-tax-exemptions-for-industrial-inputs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/485.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85951\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/cabinet-approves-tax-exemptions-for-industrial-inputs\/485-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/485.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"485.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/485.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/485.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85950\" class=\"content-area-description single-story post-85950 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet tag-cabinet-watch 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\/.2d7e6eed-bc61-45ea-a3ab-304ddaccae0b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Cabinet approved yesterday implementing tax exemptions for industrial inputs<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2097804\" style=\"\" rel=\"noopener\">state<\/a><a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2097804\" style=\"\" rel=\"noopener\">news agency SPA<\/a> reports. The decision follows the Gulf Cooperation Council\u2019s Financial and Economic Cooperation Committee\u2019s adoption of a final draft of amended controls for the exemption of industrial inputs from tax in <a target=\"_blank\" href=\"https:\/\/www.gcc-sg.org\/en-us\/MediaCenter\/NewsCooperation\/News\/Pages\/news2023-10-5-4.aspx\" style=\"\" rel=\"noopener\">October last year<\/a>. No further details were provided on the timeline for implementation or the scope of the exemptions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And new names for two gov\u2019t bodies:<\/strong> The Saline Water Conversion Corporation will now be known as the Saudi Water Authority, while the Water &amp; Electricity Regulatory Authority will be renamed the Saudi Electricity Regulatory Authority.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also approved at yesterday\u2019s Cabinet meeting:<\/strong><\/p>\n<ul>\n<li>A cooperation agreement between the government and <strong>Jordan<\/strong> on <strong>energy<\/strong>;<\/li>\n<li>An MoU between the <strong>Energy Ministry<\/strong> and its counterpart in <strong>Brazil<\/strong>;<\/li>\n<li>An MoU between the<strong> Industry and Mineral Resources Ministry<\/strong> and<strong> Morocco<\/strong>\u2019s Energy Transition and Sustainable Development and another similar MoU on mining with <strong>Japan<\/strong>\u2019s Economy, Trade and Industry;<\/li>\n<li>An MoU on cooperation between the Saudi Central Bank (<strong>Sama<\/strong>) and<strong> Qatar Central Bank<\/strong>;<\/li>\n<li>Joining the <strong>Geneva Act of the Hague Agreement Concerning the International Registration of Industrial Designs<\/strong>.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cabinet\/\">Cabinet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cabinet-watch\/\">CABINET 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=\"85952\" 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=\"85952\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/americana-bottom-line-drops-as-boycott-ramadan-slowdown-bite\/\">\r\n                            Americana bottom line drops as boycott, Ramadan slowdown bite                        <\/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\/08\/americana-bottom-line-drops-as-boycott-ramadan-slowdown-bite\/\" 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\/08\/americana-bottom-line-drops-as-boycott-ramadan-slowdown-bite\/')\">\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\/08\/americana-bottom-line-drops-as-boycott-ramadan-slowdown-bite\/\">\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=Americana bottom line drops as boycott, Ramadan slowdown bite&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/americana-bottom-line-drops-as-boycott-ramadan-slowdown-bite\/\">\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\/08\/americana-bottom-line-drops-as-boycott-ramadan-slowdown-bite\/&title=Americana bottom line drops as boycott, Ramadan slowdown bite\">\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=Americana+bottom+line+drops+as+boycott%2C+Ramadan+slowdown+bite+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F08%2Famericana-bottom-line-drops-as-boycott-ramadan-slowdown-bite%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\/08\/americana-bottom-line-drops-as-boycott-ramadan-slowdown-bite\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/501.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85953\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/americana-bottom-line-drops-as-boycott-ramadan-slowdown-bite\/501-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/501.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"501.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/501.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/501.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85952\" class=\"content-area-description single-story post-85952 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseam-ksa tag-retail tag-savola 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\/.cbbe3fe7-08b3-460b-abff-f3f67f0cb43e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Americana reports weaker 1Q earnings amid \u201cgeopolitical tensions\u201d + Ramadan <\/strong><strong>slowdown:<\/strong> Tadawul and ADX-listed MENA restaurants operator Americana Restaurants International reported USD 28 mn in net income in 1Q 2024, falling 51.8% y-o-y, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/389.pdf\" style=\"\" rel=\"noopener\">earnings statement (pdf)<\/a>. The company\u2019s revenues also dropped 16.3% y-o-y to USD 493.5 mn during the quarter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The culprits: <\/strong>The F&amp;B giant attributed the lower earnings to \u201clower sales as a result of the geopolitical situation and onset of Ramadan, as well as higher depreciation charges and rent expenses on account of new store openings during the period.\u201d <\/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> It\u2019s difficult to establish a comparison of how much of the hit is attributed to customer boycotts as opposed to the seasonality effect of Ramadan, because most of the holy month fell within 1Q 2024, while last year it was mostly in 2Q 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expansion plans:<\/strong> The company plans to open 37 more stores, with these locations currently under construction. Americana had opened 37 new stores in 1Q, bringing the total number of its stores at 2.5k as of the end of March 2024. The restaurant operator is set to open 200-225 new stores this year \u201cin markets which are less impacted by the current regional macro-environment.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The way forward:<\/strong> Americana will continue to deploy \u201crevenue recovery initiatives such as smart pricing, targeting, promotion and marketing, with sharp focus on driving transactions through value, crave and familiarity.\u201d <\/p>\n<p class=\"tag-border-left\">SAVOLA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Savola Group\u2019s net income was down 11.2% <\/strong><strong>y-o-y<\/strong><strong> to SAR 348.7 mn in 1Q 2024<\/strong> on the back of lower income from its food processing segment due to Egypt\u2019s currency devaluation, the leading food group said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMjA1EC_IDc0wiAzIDfcUVERAKsxRJo!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTg0OS9jb21wYW55U3ltYm9sLzIwNTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The drop in net income was also attributed to higher operating expenses and a higher net finance cost due to the EGP devaluation and rising interest rates, among other factors. Meanwhile, Savola\u2019s revenues were essentially flat during the quarter at SAR 7.8 bn.<\/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\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/retail\/\">Retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/savola\/\">Savola<\/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=\"85954\" 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=\"85954\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/abdalla-elebiary-named-managing-director-at-alvarez-marsal-will-lead-on-services-for-swfs\/\">\r\n                            Private equity veteran Abdalla ElEbiary named managing director at Alvarez &amp; Marsal, will lead on services for SWFs                        <\/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\/08\/abdalla-elebiary-named-managing-director-at-alvarez-marsal-will-lead-on-services-for-swfs\/\" 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\/08\/abdalla-elebiary-named-managing-director-at-alvarez-marsal-will-lead-on-services-for-swfs\/')\">\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\/08\/abdalla-elebiary-named-managing-director-at-alvarez-marsal-will-lead-on-services-for-swfs\/\">\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=Abdalla ElEbiary named managing director at Alvarez &#038; Marsal, will lead on services for SWFs&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/abdalla-elebiary-named-managing-director-at-alvarez-marsal-will-lead-on-services-for-swfs\/\">\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\/08\/abdalla-elebiary-named-managing-director-at-alvarez-marsal-will-lead-on-services-for-swfs\/&title=Abdalla ElEbiary named managing director at Alvarez &#038; Marsal, will lead on services for SWFs\">\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=Abdalla+ElEbiary+named+managing+director+at+Alvarez+%26%23038%3B+Marsal%2C+will+lead+on+services+for+SWFs+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F08%2Fabdalla-elebiary-named-managing-director-at-alvarez-marsal-will-lead-on-services-for-swfs%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\/08\/abdalla-elebiary-named-managing-director-at-alvarez-marsal-will-lead-on-services-for-swfs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/427.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85955\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/abdalla-elebiary-named-managing-director-at-alvarez-marsal-will-lead-on-services-for-swfs\/427-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/427.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"427.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/427.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/427.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85954\" class=\"content-area-description single-story post-85954 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-moves 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\/.7c661204-6220-465e-932b-fbd24c5bb2bc.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Professional services firm Alvarez &amp; Marsal has welcomed our friend Abdalla ElEbiary <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alvarezandmarsal.com\/our-people\/abdalla-elebiary\" style=\"\" rel=\"noopener\">(bio)<\/a><\/strong><strong>&nbsp;as managing director for sovereign advisory<\/strong>, the firm said yesterday in a <a target=\"_blank\" href=\"https:\/\/www.alvarezandmarsal.com\/insights\/alvarez-marsal-appoints-abdalla-elebiary-managing-director-sovereign-advisory-services\" style=\"\" rel=\"noopener\">statement<\/a>. He will be based in Dubai. ElEbiary, who has 30-years of experience working with sovereign wealth funds, private equity, investment banking, and corporate finance, will support the firm\u2019s sovereign advisory services that it provides to governments, state-owned companies, sovereign wealth funds, central banks, and multilateral development banks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ElEbiary was the first chief investment officer of the Sovereign Fund of Egypt<\/strong>, where he helped close more than 23 investments in sectors including infrastructure, banking, education, healthcare, and real estate, and helped lead sales of state-owned enterprises that collectively brought in USD 5 bn. He is also past chair of the Egyptian Private Equity and Venture Capital Association and was managing director at Qalaa Holdings, where he served for 14 years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alvarez &amp; Marsal noted ElEbiary\u2019s proven experience advising on a range of issues <\/strong>including \u201cinvestment, the restructuring and IPO of state-owned enterprises, promotion of FDI, and interfacing with DFIs (such as the IMF, IFC, and EBRD) as well as international equity and sovereign debt investors.\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\/moves\/\">MOVES<\/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=\"85956\" 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=\"85956\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/its-all-about-aramco\/\">\r\n                            Aramco\u2019s earnings drive the conversation for foreign press                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/its-all-about-aramco\/\" 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\/08\/its-all-about-aramco\/')\">\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\/08\/its-all-about-aramco\/\">\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=It\u2019s all about Aramco&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/its-all-about-aramco\/\">\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\/08\/its-all-about-aramco\/&title=It\u2019s all about Aramco\">\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=It%E2%80%99s+all+about+Aramco+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F08%2Fits-all-about-aramco%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\/08\/its-all-about-aramco\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/477.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85957\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/its-all-about-aramco\/477-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/477.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"477.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/477.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/477.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85956\" class=\"content-area-description single-story post-85956 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-aramco tag-enterpriseam-ksa tag-neom tag-saudi-in-the-news tag-the-line 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\/.9ba0841b-a31d-421c-b261-01bbc5156049.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco is leading the conversation on Saudi in the foreign press this morning<\/strong>, with everyone taking note of the oil giant sticking to its promise to pay USD 31 bn in dividends despite lower earnings. We have the full rundown in the news well, above. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-aramco-maintains-dividend-despite-lower-net-income-q1-2024-05-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-07\/aramco-to-pay-31-billion-dividend-as-saudi-posts-budget-deficit\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.barrons.com\/news\/saudi-aramco-s-q1-profit-down-14-5-percent-statement-c1bb3f1c?refsec=topics_afp-news\" style=\"\" rel=\"noopener\">AFP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/energy-oil\/saudi-aramco-net-income-falls-on-declining-crude-oil-volumes-314737e3?mod=business_feat1_energy-oil_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.telegraph.co.uk\/business\/2024\/05\/07\/saudi-oil-giant-pay-100bn-crown-princes-desert-mirror-city\/\" style=\"\" rel=\"noopener\">The Telegraph<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/saudi-arabia-neom-line-construction-99b3f54f\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a><\/strong><strong> is the latest to look at the buildout timeline for Neom<\/strong>, and suggests the real cost of developing Neom could be higher than initially anticipated.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neom\/\">NEOM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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\/the-line\/\">The Line<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85958\" 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=\"85958\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/saudi-electricity-secures-usd-1-bn-murabaha-loan-from-snb-plus-ma-trade-and-aviation\/\">\r\n                            Saudi Electricity secures USD 1 bn murabaha loan from SNB. Plus: M&amp;A, trade and aviation                        <\/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\/08\/saudi-electricity-secures-usd-1-bn-murabaha-loan-from-snb-plus-ma-trade-and-aviation\/\" 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\/08\/saudi-electricity-secures-usd-1-bn-murabaha-loan-from-snb-plus-ma-trade-and-aviation\/')\">\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\/08\/saudi-electricity-secures-usd-1-bn-murabaha-loan-from-snb-plus-ma-trade-and-aviation\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Saudi Electricity secures USD 1 bn murabaha loan from SNB. Plus: M&#038;A, trade and aviation&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/saudi-electricity-secures-usd-1-bn-murabaha-loan-from-snb-plus-ma-trade-and-aviation\/\">\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\/08\/saudi-electricity-secures-usd-1-bn-murabaha-loan-from-snb-plus-ma-trade-and-aviation\/&title=Saudi Electricity secures USD 1 bn murabaha loan from SNB. Plus: M&#038;A, trade and aviation\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Saudi+Electricity+secures+USD+1+bn+murabaha+loan+from+SNB.+Plus%3A+M%26%23038%3BA%2C+trade+and+aviation+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F08%2Fsaudi-electricity-secures-usd-1-bn-murabaha-loan-from-snb-plus-ma-trade-and-aviation%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\/08\/saudi-electricity-secures-usd-1-bn-murabaha-loan-from-snb-plus-ma-trade-and-aviation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/483.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"85959\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/saudi-electricity-secures-usd-1-bn-murabaha-loan-from-snb-plus-ma-trade-and-aviation\/483-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/483.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"483.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/483.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/483.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85958\" class=\"content-area-description single-story post-85958 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-almosafer tag-also-on-our-radar tag-enterpriseam-ksa tag-lana-medical tag-saudi-electricity tag-saudi-film-fund tag-saudi-national-bank tag-seera tag-tihama 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\/.12d0f411-beb2-4657-b45a-ecfc91c612a3.mp3\"><\/audio><\/figure><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>Saudi Electricity has lined up a five-year USD 1 bn murabaha facility from <\/strong><strong>the Saudi <\/strong><strong>National Bank <\/strong>(SNB) to \u201cfinance its capital expenditures and general corporate purposes,\u201d 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\/rZJLc6JAEMc_yx7wptO8lN0qKkV84BqNISyKXFItToAEGDK84rffMV6WlHH3sHOa7v719L97mgTEJ0GOTRJhlbAcU2HvguGTbg1BmRuwtmfKFJzZ91tnMrVluNPItguA-6AL4GGlLuERbBiS4F_y4Ytjwd_zgy5irOwhOPeWs1ZGOoCrfAYuSPwArmm4qsIekQUJopTtzwOz8r1qRCTg9Jlyygc1F-64qoryhwQStG07iBiLUjoIWSaBCN-8md14ifUhoe9hjHlEhSW8RSlBwXiFqQSdsASs5hnyV1oJJMMk75-tfotVGEuyOktZiCkVtwnyXomm1yvfElPpNfRgKhh7d9P2ZZGGidI29cx692-jJ5jPN88vluc5s5xNx1boWE6vLiPTWjcbbFUrMBZl1moqvi61CrfGvfw4udR9zMqK-N2mL3ElRR7GBXLMys_j-o_juDnPwkR-EnEq81GlwgO2tXiLBGeA-DT_ihAdFJgf3WO2Z-JrdVkG4gp8J3Z59MeibcYaDGGt2aulIdu6TrZNQlvi5UwITIl72qtUaCY7kfxL7NjV5CLzfEh-9oP9UU2bJd327fHeiL79BnhBS8U!\/dz\/d5\/L0lDU0lLVUtVSkNncFJDZ3BSQ2lDbEVLSUtVU0ovWUJVRUFBQUlJTUlFQUNJQ0tJS0lHT0JPQkdPSkZKRkdKTk5ETkRMSUVFTkhIUEhQTEhBb0VLSW9FTUEhLzRKQ2lqc1l1T0lRU2t5RkpOUlRrS2FhaG10MnN0bk5Uelc3V1d3V29wVlVZb0EhIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9BTk5PVU5DRU1FTlRfTlVNQkVSLzc5ODQzL2NvbXBhbnlTeW1ib2wvNTExMC9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvYW5JZC9lbg!!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The fresh facility \u2014 in which SNB is marked as a related party \u2014 is subject to renewal for up to two years.<\/p>\n<p class=\"tag-border-left\">CONSTRUCTION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China\u2019s geotechnical engineering service provider <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.geoharbour.com\/en\/\" style=\"\" rel=\"noopener\">Geoharbour<\/a><\/strong><strong> was awarded nine <\/strong><strong>contracts worth SAR 150 mn<\/strong> in Saudi this year, its regional director for the Middle East Tom Bi told <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/05\/06\/article_2723931.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a>. Geoharbour has completed the first phase of <a target=\"_blank\" href=\"https:\/\/www.coliseum-online.com\/china-firm-land-jeddah-stadium-project\/\" style=\"\" rel=\"noopener\">Jeddah\u2019s stadium<\/a> foundations, which is set to host Fifa World Cup 2034 games, at a cost of SAR 15 mn. Work on the second phase is set to begin after four months, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A busy pipeline: <\/strong>The projects awarded to the Shanghai-based company include work for the <a target=\"_blank\" href=\"https:\/\/www.seetao.com\/details\/208540.html\" style=\"\" rel=\"noopener\">Red Sea development project<\/a>, <a target=\"_blank\" href=\"https:\/\/saudithesquare.com\/\" style=\"\" rel=\"noopener\">The Square in Riyadh<\/a>, the upgrade of Aramco\u2019s <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/elements-magazine\/2022\/jafurah-the-jewel-of-our-unconventional-gas-program\" style=\"\" rel=\"noopener\">Jafurah gas field<\/a> and <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2023\/yanbu-refinery-becomes-fourth-aramco-facility-to-receive-wef-global-lighthouse-network-status\" style=\"\" rel=\"noopener\">Yanbu Refinery<\/a>, Neom\u2019s <a target=\"_blank\" href=\"https:\/\/www.neom.com\/en-us\/regions\/oxagon\" style=\"\" rel=\"noopener\">Oxagon<\/a>, Riyadh\u2019s <a target=\"_blank\" href=\"https:\/\/www.power-technology.com\/data-insights\/power-plant-profile-saad-2-solar-pv-park-saudi-arabia\/\" style=\"\" rel=\"noopener\">Saad 2 Solar PV Park<\/a>, Acwa Power\u2019s <a target=\"_blank\" href=\"https:\/\/acwapower.com\/en\/projects\/shuaibah-iwpp\/\" style=\"\" rel=\"noopener\">Shuaibah<\/a>, and soil improvement for schools in Jubail in collaboration with the Royal Commission for Jubail and Yanbu.<\/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>#1-<\/strong><strong>Healthcare supplier Lana Medical signed an MoU to acquire a 50% stake in&nbsp;<\/strong><strong>Belarusia\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/solar-laser.com\/en\/\" style=\"\" rel=\"noopener\">Solar Laser Systems<\/a><\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/mrnnt4ah\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a> yesterday. The MoU is valid for three months or until a binding agreement is signed. The acquisition \u2014 which is internally funded by Lana \u2014 is aimed at boosting Lana\u2019s market share as a supplier of medical lasers in the Kingdom. It also aims to transfer the medical laser industry and related technologies to Saudi. No financial details were disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Riyadh-based Lana Medical has been supplying Solar Laser Systems\u2019 medical lasers to the local market since 2015, according to the disclosure.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Tihama inked an investment agreement with <\/strong><strong>the Saudi Film Fund valued at SAR 37.5 <\/strong><strong>mn in exchange for a 10% stake<\/strong> in the fund\u2019s SAR 375 mn capital, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5n6ttfke\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a> yesterday. The six-year agreement, with a possibility of a one-year extension, was reached after Tihama\u2019s board explored potential investments in the film industry following its financial reorganization. It examined the terms and conditions of the fund back in July 2023, the disclosure says. Tihama \u2014 an advertising, public relations, publishing, and media group \u2014 said it was the \u201cfirst public joint stock company to participate in this type of investment.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- The Saudi Film Fund plans to distribute 6% dividends semi-annually<\/strong> starting from the third year of operation. It is penciling in a total return of 17% as set in its subscription memorandum, according to the disclosure.<\/p>\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Modon partners with China\u2019s Arctech for solar tech initiative:<\/strong> The <a target=\"_blank\" href=\"https:\/\/www.modon.gov.sa\/en\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Saudi Industrial Cities<\/a><a target=\"_blank\" href=\"https:\/\/www.modon.gov.sa\/en\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">and Technology Zones Authority<\/a> (Modon) and Chinese solar equipment maker <a target=\"_blank\" href=\"https:\/\/www.arctechsolar.us\/\" style=\"\" rel=\"noopener\">Arctech Solar<\/a> will develop a facility for the production of smart solar trackers and building-integrated solar photovoltaic systems in Jeddah's Second Industrial City, according to a <a target=\"_blank\" href=\"https:\/\/www.arctechsolar.us\/news\/378.html\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the facility: <\/strong>The factory will manufacture the SkyWings solar tracking systems with a 3 GW capacity for the regional market and a 10 GW local delivery capacity. It will span about 97k sq meters, according to the press release. <\/p>\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New routes + loyalty programs for Riyadh Air:&nbsp;<\/strong>The Public Investment Fund\u2019s second flagship carrier Riyadh Air signed an MoU with the Saudi Tourism Authority that will see the two launch new air routes, loyalty programs, and global sponsorships, the authority said <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7193513333646340098\/\" style=\"\" rel=\"noopener\">on LinkedIn<\/a>. The agreement was sealed on the sidelines of the ongoing Arabian Travel Market in Dubai.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh Air is expanding \u2014 and wants to be known for its experience:<\/strong> The carrier is looking to \u201csell experiences,\u201d not just airline tickets, Riyadh Air\u2019s Vice President for Marketing and Corporate Communications Osamah Alnuaiser told <a target=\"_blank\" href=\"https:\/\/skift.com\/2024\/05\/07\/riyadh-air-to-sell-package-holidays\/\" style=\"\" rel=\"noopener\">Skift<\/a> at the travel trade show. Riyadh Air CEO Tony Douglas told Bloomberg <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e7d03226-86b1-4abf-b012-aa40a8158a5c\" style=\"\" rel=\"noopener\">earlier this week<\/a> that the airline is also planning to make follow-up aircraft orders to meet its fleet needs ahead of its planned 2025 debut. The move would add to the airline\u2019s order for up to 72 Boeing Dreamliners in March, according to the business information service.<\/p>\n<p class=\"tag-border-left\">FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kuwait-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.arabfund.org\/\" style=\"\" rel=\"noopener\">Arab Fund for Economic and Social Development<\/a><\/strong><strong> has joined the&nbsp;<\/strong><strong>International Finance Corporation (IFC) co-lending platform Master Cooperation Agreement (MCA)<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/pressroom.ifc.org\/all\/pages\/PressDetail.aspx?ID=28152\" style=\"\" rel=\"noopener\">statement<\/a> by the World Bank\u2019s private investment arm. As part of the agreement, the Arab Fund will pour USD 500 mn to support private sector growth and job creation in the fund\u2019s member countries. The Kuwait-based fund is the third signatory from the region after Jeddah-based Islamic Corporation for the Development of the Private Sector (ICD) and Dammam-based Arab Petroleum Investments Corp (Apricorp).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MCA? <\/strong>It is a co-lending platform that allows borrowers in developing countries to obtain loans from multiple development institutions under a single package. The IFC acts as lead arranger for the platform which has provided some USD 12 bn under the framework.<\/p>\n<p class=\"tag-border-left\">ENVIRONMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ten MoUs and investment contracts focused on developing <\/strong><strong>plant cover<\/strong><strong> and related <\/strong><strong>infrastructure across the Kingdom were signed<\/strong> during the inaugural National Greening Forum, <a target=\"_blank\" href=\"https:\/\/www.alriyadh.com\/2073988\" style=\"\" rel=\"noopener\">Al Riyadh<\/a> reported yesterday. The signatories of agreements include the Zakat, Tax and Customs Authority (Zatca), National Housing Company, PIF-owned Red Sea Global, Riyad Bank, Estidamah and others. No further details were provided.<\/p>\n<p class=\"tag-border-left\">TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Multinational <\/strong><strong>IT services player <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cognizant.com\/us\/en\" style=\"\" rel=\"noopener\">Cognizant<\/a><\/strong><strong> and Google Cloud will work together on <\/strong><strong>generative AI and data in Saudi Arabia<\/strong> as part of a new strategic partnership, according to a joint <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/cognizant-and-google-cloud-forge-strategic-partnership-to-drive-ai-innovation-in-saudi-arabia-uqrrwlmr\" style=\"\" rel=\"noopener\">press release<\/a>. The two companies plan to focus on generative AI through Google Cloud\u2019s Gemini platform and data modernization as well as investments in local businesses, as they look to \u201cunlock the transformative potential of AI, empowering businesses to enhance operational efficiency, elevating customer experiences, and driving growth throughout Saudi Arabia and the wider region,\u201d said Google Cloud\u2019s Saudi Country Manager Bader Almadi.<\/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\/almosafer\/\">Almosafer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/lana-medical\/\">Lana Medical<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-electricity\/\">Saudi Electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-film-fund\/\">Saudi Film Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-national-bank\/\">Saudi National Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/seera\/\">Seera<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tihama\/\">Tihama<\/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=\"85960\" 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=\"85960\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/saudis-tilt-toward-silicon-valley-is-nearly-complete-plus-srmg-to-restructure-some-of-its-holdings\/\">\r\n                            Saudi\u2019s tilt toward Silicon Valley is nearly complete. Plus: SRMG to restructure some of its holdings.                        <\/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\/08\/saudis-tilt-toward-silicon-valley-is-nearly-complete-plus-srmg-to-restructure-some-of-its-holdings\/\" 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\/08\/saudis-tilt-toward-silicon-valley-is-nearly-complete-plus-srmg-to-restructure-some-of-its-holdings\/')\">\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\/08\/saudis-tilt-toward-silicon-valley-is-nearly-complete-plus-srmg-to-restructure-some-of-its-holdings\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Saudi\u2019s tilt toward Silicon Valley is nearly complete. 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They\u2019re simultaneously negotiating agreements on defense and nuclear power as part of a wider process that Washington hopes will see us normalize relations with Israel. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s going to be a delicate balancing act: <\/strong>Riyadh and Beijing have been on a drive to build deeper ties. China is a critical crude oil market for Aramco, which is looking to invest more in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a736ad2b-3d0a-4860-87b0-e2bccbea3fe8\/more-love-from-aramco-for-chinese-refineries\" style=\"\" rel=\"noopener\">Chinese refining capacity<\/a>&nbsp;and petchems. The first <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d68a2eb6-2f0d-4eb4-a958-a4eb0595b96f\" style=\"\" rel=\"noopener\">China-based ETF of Saudi shares<\/a>&nbsp;started trading late last year, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/64a8be1f-f047-4b14-aa4e-65d64fe813af\/tadawul-to-host-hong-kong-edition-of-flagship-markets-conference-this-thursday\" style=\"\" rel=\"noopener\">Tadawul will host tomorrow the Hong Kong edition<\/a>&nbsp;of its flagship capital markets conference. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/75787763-837c-42a8-9501-9061ab9fc3fe\/neom-taps-domestic-banks-for-sar-10-bn-to-finance-short-term-needs\" style=\"\" rel=\"noopener\">Gigaprojects are in play, too<\/a>: Neom was on the road in China a few weeks ago and it\u2019s courting Chinese bankers to help finance work there. <\/p>\n<p class=\"tag-border-left\"> MARKETS THIS MORNING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed this morning <\/strong>as investors <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/08\/asia-markets.html\" style=\"\" rel=\"noopener\">sift through earnings reports<\/a>, CNBC reports, while US stock futures are largely unchanged after the Dow yesterday hit its longest stint in the green since December. European equities futures were also little changed in overnight trading. <\/p>\n<p><a target=\"_blank\" id=\"t.eb4ae372d06e15fab5932687ad48664622680b80\" 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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,358<\/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: +3.3%)<\/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>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\">1,548<\/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: -0.2%)<\/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>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\">26,741<\/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: +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\">26,429<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2% (YTD: +6.2%)<\/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>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\">9,071<\/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: -5.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,156<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.01% (YTD: +2.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,188<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,314<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2% (YTD: +9.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,016<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2% (YTD: +10.9%)<\/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 83.04<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2.21<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,324.20<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 63,141.70<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: -49.3%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI fell 0.1% yesterday <\/strong>on turnover of SAR 7 bn. The index is up 3.3% 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> Batic (+6.4%), DWF (+5.4%) and EIC (+5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Al Akaria (-7.6%), Al Baha (-7.1%) and Americana (-5.1%).<\/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> fell -0.2% yesterday <\/strong>on turnover of SAR 25.7 mn. The index is up 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> Enma Alrawabi (+6.9%), Al Mohafaza For Education (+4.6%) and Future Care (+3.8%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Group Five (-4.9%), Alnaqool (-4.7%) and Ghida Alsultan (-4.5%)<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The board of m<\/strong><strong>edia giant Saudi Research Media Group (SRMG) approved a plan to <\/strong><strong>restructure a number of its non-operating and wholly owned subsidiaries<\/strong> here and overseas, 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\/jZDLDoJADEW_xQVbWhEQ3WFUjI-IEgPOxgw6jiQwQ3CU-PeOutL46q7tubc3BQIJEEHPGacqk4Lmul8Td-P4LlojD-fB0BrgYtjpLfqDoIkTG-JnAKPQ0UA4a01xiQG6QP7R44fy8beefEWC9ivwJuId-JJhDITnMn38wxdpy-NAKrZnFavMU6XHB6XKY9dAA-u6NrmUPGfmVhYGvpMc5FFB8kzeuJvL3UTRHa1PuVYTvSqpuESXIpX6kG01ESImoCxWCWZhEXvKSW2_cQX6df6J\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTg1MS9jb21wYW55U3ltYm9sLzQyMTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The move, which it said would help streamline operations, will see it restructure 26 subsidiaries via voluntary liquidation, deregistration, or turning them into branches. This represents more than half of SRMG\u2019s portfolio of 40 companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The list of subsidiaries includes<\/strong> Arab Media, the News Hub, Numu Media, Sayidaty Products Co, Kuwaiti Group for Publishing and Distribution Co, Moroccan Printing and Publishing Co and many others, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/457.pdf\" style=\"\" rel=\"noopener\">list (pdf)<\/a>&nbsp;provided by the company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A snapshot of SRMG\u2019s results last year:<\/strong> SRMG\u2019s net income <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/60d06878-7d99-40bb-a57c-6a28808d4581\" style=\"\" rel=\"noopener\">fell 14% y-o-y<\/a> to SAR 560 mnin FY 2023 on the back of losses by the Saudi Printing and Packaging Company (SPPC), of which SRMG owns a majority 70% stake. Its revenues grew 1% y-o-y to SAR 3.7 bn. It is yet to release its results for Q1 2024.<\/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\/alat\/\">Alat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/artificial-intelligence\/\">artificial intelligence<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-china-relations\/\">Saudi-China relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-us-relations\/\">Saudi-US relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"85962\" 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\/08\/85962\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-85962\" class=\"content-area-description single-story post-85962 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>4-11 May (Saturday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudismash.com\/about-us\" style=\"\">Saudi Smash 2024<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-9 May (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-smartmanufacturing.com\/\" style=\"\">Saudi Smart Manufacturing<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-9 May (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-smartlogistics.com\/\" style=\"\">Saudi Smart Logistics<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-11 May (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theiconshow.com\/\" style=\"\">The Icon Show<\/a><\/span><span style=\"font-weight:400;\">, Jeddah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12 May (Sunday): Bookbuilding starts for Rasan\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ipo.rasan.co\/\" style=\"\">Tadawul IPO<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13 May (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/events.meed.com\/event\/saudigigaprojects\/\" style=\"\">Saudi Giga Projects<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-15 May (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.smartfuturexpo.com\/\" style=\"\">Smart Future Expo<\/a><\/span><span style=\"font-weight:400;\">, 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;\">14-15 May (Tuesday-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>15-16 May (Wednesday-Thursday): Arab Forum of Anti-Corruption, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-18 May (Thursday-Saturday):<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.spa.gov.sa\/en\/N2096956#:~:text=Red%20Sea%20Fashion%20Week%20Makes%20Its%20Debut%20in%20May%202024&text=Riyadh%2C%20May%2006%2C%202024%2C,Resort%20development%20in%20Saudi%20Arabia.\" style=\"\">Red Sea Fashion Week<\/a><\/span><span style=\"font-weight:400;\">, The St. Regis Red Sea Resort. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-21 May (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudienergyconvention.com\/\" style=\"\">Saudi Energy Convention<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-21 May (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fpf.sa\/en\" style=\"\">Future Projects Forum<\/a><\/span><span style=\"font-weight:400;\">, 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>21-23 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thesaudifoodshow.com\/\" style=\"\">The Saudi Food Show<\/a><\/span><span style=\"font-weight:400;\">, 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 May (Saturday): Bidding deadline for Duba\u2019s seawater reverse osmosis desalination plant in Tabuk.<\/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;\">2-3 June (Sunday-Monday): Global Project Management Forum, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 June (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudisportshow.com\/\" style=\"\">Saudi Sports Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 June (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/aqaratexpo.com\/en\/home\/\" style=\"\">Aqarat Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/saudi-arabia-host-world-environment-day-2024-focus-land-restoration\" style=\"\">World Environment Day<\/a><\/span><span style=\"font-weight:400;\">.<\/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>11-12 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/informaconnect.com\/saudi-event-show\/\" style=\"\">The Saudi Event Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-19 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/evautoshowonline.com\/\" style=\"\">EV Auto Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-26 September (Tuesday-Thursday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiinfrastructureexpo.com\/\" style=\"\">Saudi Infrastructure Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention and Exhibition Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 September (Monday): National Day (national holiday)<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-9 November (Saturday- Saturday): WTA Finals, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiarabia-energy.com\/en\/home.html\" style=\"\">Saudi Electricity Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-14 November (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cityscapeglobal.com\/en\/home.html\" style=\"\">Cityscape Global<\/a><\/span><span style=\"font-weight:400;\">, 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 2024<\/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>Aramco keeps divvies in place despite lower income | Alat is tilting away from China | PIF\u2019s SEIC eyes Egypt\u2019s CIRA Education | Tax exemptions for industrial inputs<\/p>\n","protected":false},"featured_media":85941,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-85940","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"27879a70-a736-4944-bfb4-e5c446325876","teaser":"Aramco keeps divvies in place despite lower income | Alat is tilting away from China | PIF\u2019s SEIC eyes Egypt\u2019s CIRA Education | Tax exemptions for industrial inputs","photo_url":"https:\/\/ent.news\/2024\/2\/2852.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>Aramco will boost dividend payments this year even as 1Q earnings slump - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/aramco-will-boost-dividend-payments-this-year-even-as-1q-earnings-slump\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aramco will boost dividend payments this year even as 1Q earnings slump\" \/>\n<meta property=\"og:description\" content=\"Aramco keeps divvies in place despite lower income | Alat is tilting away 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