{"id":86073,"date":"2024-05-13T00:00:00","date_gmt":"2024-05-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=86073"},"modified":"2025-12-14T18:04:58","modified_gmt":"2025-12-14T18:04:58","slug":"rasan-looks-to-raise-as-much-as-sar-841-mn-in-tadawul-debut","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/rasan-looks-to-raise-as-much-as-sar-841-mn-in-tadawul-debut\/","title":{"rendered":"Rasan looks to raise as much as SAR 841 mn in Tadawul debut"},"content":{"rendered":"<section id=\"86075\" 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=\"86075\">\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\/13\/saudi-gigaproject-summit-kicks-off-mohammed-hadi-al-rasheed-wraps-nomu-ipo\/\">\r\n                            THIS MORNING: Saudi Gigaproject Summit kicks off + Mohammed Hadi Al Rasheed wraps Nomu IPO                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/saudi-gigaproject-summit-kicks-off-mohammed-hadi-al-rasheed-wraps-nomu-ipo\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Let\u2019s jump right in:<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/events.meed.com\/event\/saudigigaprojects\/\" style=\"\" rel=\"noopener\">Saudi Gigaproject Summit<\/a><\/strong><strong> will open today at the Hilton Riyadh Hotel and <\/strong><strong>Residences. <\/strong>The Meed event will showcase Saudi\u2019s USD 870 bn gigaproject drive. The Kingdom\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3b473a40-965c-44aa-b4d7-d023fd47bcf2\/saudi-has-multiple-multi-bn-usd-construction-projects-in-the-pipeline-%25e2%2580%2594-here%25e2%2580%2599s-a-rundown-of-high-profile-gigaprojects\" style=\"\" rel=\"noopener\">multi-bn USD pipeline of construction projects<\/a> is changing the face of the country and creating significant room for the private sector as a catalyst for Saudi\u2019s diversification away from oil. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.mep-expo.com\/en\/home-4\/\" style=\"\" rel=\"noopener\">Middle East Poultry Expo<\/a><\/strong><strong> opens in a few hours in the capital at the Riyadh <\/strong><strong>International Convention and Exhibition Center.<\/strong> The Environment, Water, and Agriculture Ministry-sponsored event is the Kingdom\u2019s largest event of its kind for the poultry industry. It wraps up on Wednesday, 15 May.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> Saudi is the Middle East and Africa\u2019s top poultry producer and the third-largest consumer of poultry and meat products globally, according to the expo page.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>There\u2019s a chance of rain in <strong>Riyadh<\/strong> with a daytime high of 41\u00b0C and a low of 27\u00b0C. <strong>Makkah<\/strong> will be sunny today with a high of 42\u00b0C while the low is expected at 29\u00b0C. Meanwhile, <strong>Jeddah<\/strong> is looking windy with a high of 35\u00b0C and a low of 29\u00b0C.<\/p>\n<p class=\"tag-border-left\">HAPPENING THIS WEEK- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> !_Anchor07_! <strong>More than 300 British companies will descend upon Riyadh tomorrow and Wednesday <\/strong>for <a target=\"_blank\" href=\"https:\/\/www.events.great.gov.uk\/website\/13088\/\" style=\"\" rel=\"noopener\">Saudi Great Futures<\/a>, a UK government-sponsored investment conference backed by our friends at HSBC.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Deputy Prime Minister Oliver Dowden will be leading the delegation <\/strong>as part of a year-long campaign that UK official hope will result in expanded \u201ctrade, tourism, education, and cultural activity.\u201d Dowden is no stranger to the Saudi \u2014 the Tory MP spoke last fall at the Future Investment Initiative \u2014 check out his remarks <a target=\"_blank\" href=\"https:\/\/www.gov.uk\/government\/speeches\/deputy-prime-minister-oliver-dowdens-speech-to-the-future-investment-initiative-24-october-2023\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch:<\/strong> \u201cThe Saudis have a respect and appetite for British intelligence, ingenuity, skills and experience from architecture to education, clean tech to AI, luxury to fashion and creativity to construction,\u201d the event website declares. Dowden\u2019s office notes that the \u201cfive lead gigaprojects\u201d will see investment of c. USD 3 tn through 2030.<\/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>AND- It\u2019s shaping up to be an important week for Saudi-US relations. <\/strong>US Energy Secretary Jennifer Granholm is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/478b8709-dd5b-4c60-a18c-60a2a0d3e193\" style=\"\" rel=\"noopener\">due in town later this week<\/a>, suggesting that talks are advancing on a pact that could see US support for the Saudi nuclear power industry. A nuclear energy pact is one of three cornerstone agreements (along with one on defense and a third on AI and advanced technologies) that could be part of a grand accord that sees 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>Some in Washington are again speculating that Washington could aim to go it alone <\/strong>and conclude <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4f8c0a4d-68ec-47a3-b22d-411374abe3a6\/\" style=\"\" rel=\"noopener\">bilateral agreements with Riyadh on defense, AI, and nuclear power<\/a>&nbsp;if Israeli Prime Minister Benjamin Netanyahu refuses to move on a clear path to statehood for Palestine \u2014 a key Saudi requirement for normalization. <a target=\"_blank\" href=\"https:\/\/www.voanews.com\/a\/us-nears-decision-point-on-security-deal-with-saudis\/7608146.html?utm_source=pocket_reader\" style=\"\" rel=\"noopener\">State-funded Voice of America<\/a> is the latest to advance the idea. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO THIS WEEK- Nasa Administrator Bill Nelson will be in Riyadh this week <\/strong>as part of a tour that will also take him to Italy. \u201cNelson will meet with Saudi Space Agency and other senior officials to discuss future collaboration and underscore the importance of civil space cooperation for the broader United States and Saudi Arabia relationship,\u201d a <a target=\"_blank\" href=\"https:\/\/www.nasa.gov\/news-release\/nasa-administrator-to-engage-officials-in-italy-vatican-saudi-arabia\/\" style=\"\" rel=\"noopener\">Nasa statement<\/a> reads.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a>  <strong>#1- Riyadh-based construction and mining firm Mohammed Hadi Al <\/strong><strong>Rasheed wrapped up <\/strong><strong>its <\/strong><strong>IPO <\/strong><strong>on parallel<\/strong><strong> market Nomu<\/strong> yesterday, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1726828\" style=\"\" rel=\"noopener\">Argaam<\/a> reports, citing a statement from the company\u2019s financial advisor and lead manager Yaqeen Capital. Tadawul will set a listing date on Nomu following the completion of the necessary paperwork, the statement says. Subscription for qualified investors on a price range of SAR 22 to SAR 28 per share wrapped last Monday, 6 May. The company is <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1726828\" style=\"\" rel=\"noopener\">going public with a 12% stake<\/a> on the parallel market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have a solid IPO pipeline for Nomu:<\/strong> The parallel market\u2019s pipeline includes school operator <strong>Horizon Educational<\/strong> which will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0c079d3d-57fd-428f-bbc5-271112fe5ac7\/strong-investor-appetite-sees-miahona-price-at-the-top-of-the-range\" style=\"\" rel=\"noopener\">wrap up its book-building process<\/a>&nbsp;on Thursday. The Riyadh-based school operator is taking a 20% stake to market that could see it generate up to SAR 27 mn in proceeds. Other Nomu listings unfolding now include Riyadh-based advisor <strong>Yaqeen Capital<\/strong> (itself a top advisor on Nomu IPOs) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4e5ca942-40dd-422b-97d5-18ea183f6fe8\" style=\"\" rel=\"noopener\">with a 20% stake<\/a> and <strong>Leaf Global<\/strong> Environmental Services <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3cd30d00-bff4-49a2-8d03-72cd2400bd39\" style=\"\" rel=\"noopener\">with a 30% stake<\/a>. Medical supplies outfit <strong>Qomel&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/61ac3aa3-9b66-4cdf-939c-bfd106406bc2\" style=\"\" rel=\"noopener\">rang the bell<\/a> on Nomu last week to mark the first day of trading on its shares. It took a 14.3% stake to the market.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2- Local investors and businessmen were in Egypt for a show and tell on the <\/strong><strong>New <\/strong><strong>Administrative Capital<\/strong>, the Administrative Capital for Urban Development (ACUD) said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/ACUDEGY\/posts\/pfbid0JKykYvxVN7cZfj4ykYQys1CHkSTNm6U5L6eoz58KmVjAtk7F4wmLmQcRtR4Jhnq7l?locale=ar_AR\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The delegation members met with ACUD Chairman Khaled Abbas, toured the city, and were briefed on its landmark projects and potential investments in the USD 58 bn development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The GCC is looking to reduce dependency on<\/strong><strong> oil revenues with a comprehensive <\/strong><strong>economic diversification strategy<\/strong>, GCC Secretary-General Jassim Mohammed Al Budaiwi said at the Gulf Creatives Conference at Harvard, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2101049\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>. The strategy was designed to build flexible economic structures among the GCC, as well as to lure in foreign direct investments, he said. Al Budaiwi also highlighted efforts to boost trade among the GCC, including the unified economic agreement, the Gulf Common Market, and a waiver of tariffs on products of GCC member countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Madinah began the process of becoming the Middle East\u2019s first autism-certified city&nbsp;<\/strong>by the US-based International Board of Credentialing and Continuing Education Standards, according to a <a target=\"_blank\" href=\"https:\/\/ibcces.org\/blog\/2024\/05\/09\/medina\/\" style=\"\" rel=\"noopener\">statement<\/a>. The push for certification comes under a partnership to develop the city\u2019s landscape to help accommodate autistic folks and their families. The designation would help \u201censure there are welcoming options for everyone\u201d in Madinah, according to the statement.<\/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>Saudi imported <\/strong><strong>SAR 6.8 bn<\/strong><strong>-worth of goods from other GCC countries in February, <\/strong><strong>up 19% <\/strong><strong>y-o-y<\/strong>, <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/844.pdf\" style=\"\" rel=\"noopener\">data from the government\u2019s statistics agency Gastat (pdf)<\/a> showed. The UAE accounted for the lion\u2019s share of imports, making up 65% or SAR 4.4 bn of the overall GCC exports to Saudi. Oman came in second with SAR 1.3 bn worth of exports to the Kingdom in February, marking a 40% y-o-y increase. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zooming out: <\/strong>China was the largest source market for imports to Saudi in February, with SAR 12.6 bn worth of goods, the data showed. The US came in second with exports of SAR 5 bn to Saudi.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong>&nbsp;and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a>&nbsp;to get your own copy of EnterpriseAM Saudi delivered every weekday before 7am Riyadh time \u2014 without charge, thanks to our friends at Cenomi.<br \/><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\">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 reasonably quiet morning in the global business press<\/strong>, as is often the case on Mondays. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some 300k Palestinians are on the move in Gaza <\/strong>after being forced out of Rafah by the Israeli army. \u201cMany say they have nowhere to go,\u201d writes the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/05\/11\/world\/middleeast\/israel-gaza-rafah-palestinians.html\" style=\"\" rel=\"noopener\">New York Times<\/a> in the understatement of the year. Hamas troops, meanwhile, are pinning down the IDF in northern Gaza and other areas that the IDF had claimed to have cleared of the group, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/palestinians-flee-expanded-rafah-fighting-even-as-hamas-resurges-in-northern-gaza-55531eec?mod=hp_lead_pos9\" style=\"\" rel=\"noopener\">WSJ notes<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME: Kuwait\u2019s foreign minister as well as its ministers of petroleum and <\/strong><strong>finance retained their posts<\/strong> after Prime Minister Sheikh Ahmad Abdullah Al-Sabah <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/kuwait-forms-new-government-headed-by-ahmad-abdullah-al-sabah-2024-05-12\/\" style=\"\" rel=\"noopener\">formed a new cabinet<\/a> just a couple of days after the country\u2019s emir dissolved parliament. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ELSEWHERE- Shakeup in Russia. <\/strong>Russian President Vladimir Putin has appointed a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/putin-proposes-sacking-defence-minister-shoigu-parliament-says-2024-05-12\/\" style=\"\" rel=\"noopener\">civilian<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/putin-proposes-sacking-defence-minister-shoigu-parliament-says-2024-05-12\/\" style=\"\" rel=\"noopener\">economist to run the Defense Ministry<\/a> in a surprise shakeup.<\/p>\n<p class=\"tag-border-left\">THE WORLD THIS WEEK- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Washington powerbrokers, lobbyists, and diplomats the world over will be watching <\/strong><strong>closely as US Senator Bob Menendez goes on trial <\/strong>for allegedly taking \u201cbribes to influence state and federal prosecutors to go easy on his associates, aid the government of Egypt and help seal a deal between an associate and an investment company led by a member of the Qatari royal family.\u201d <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/05\/12\/gold-bars-bob-menendez-trial-00157434\" style=\"\" rel=\"noopener\">Politico<\/a>&nbsp;and the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/05\/12\/nyregion\/robert-nadine-menendez-corruption-trial.html\" style=\"\" rel=\"noopener\">New York Times<\/a>&nbsp;have more. Menendez was chair of the Senate Foreign Relations Committee at the time of his arrest late last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Arab League heads of state will gather in Bahrain<\/strong> on Thursday for a summit \u2014 one day after Nakba Day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Dueling reports: <\/strong>Opec\u2019s oil report is out tomorrow, setting up its June production meeting, while the IEA\u2019s monthly oil market report is due out Wednesday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- The Cannes film festival gets underway and the US presidential campaign heats up:&nbsp;<\/strong>Prosecutors are hoping to finish presenting their case against Donald Trump in a hush money trial even as Agent Orange schedules a big fundraising event for tomorrow, and Joe Biden has a number of public events scheduled. <\/p>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/events.meed.com\/event\/menaconstructionsummit\/\" style=\"\" rel=\"noopener\">MENA Construction Summit<\/a><\/strong><strong> will kick off tomorrow<\/strong> at the Hilton Riyadh Hotel &amp; Residences. 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 get underway on Thursday, 16 May and run until Saturday, <\/strong><strong>18 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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudienergyconvention.com\/\" style=\"\" rel=\"noopener\">Saudi Energy Convention<\/a><\/strong><strong> from Sunday, 19 May to Tuesday, 21 <\/strong><strong>May<\/strong>. The convention will see energy and utilities industry leaders advance collaborative decarbonization efforts and identify innovation areas. It will also host the <strong>Saudi Utilities Convention<\/strong> and <strong>Saudi Hydrogen Convention<\/strong> to address the role and challenges of rolling out hydrogen, water and utility projects that are in line with the global energy transition. Over 10k energy professionals and 200 industry speakers will be present at the event. <\/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:\/\/futureaviationforum.com\/en\" style=\"\" rel=\"noopener\">Future Aviation Forum<\/a><\/strong><strong> will get underway on Monday, 20 May and run until <\/strong><strong>Wednesday, 22 May<\/strong> at the King Abdulaziz International Conference Center in Riyadh. The event, organized by the General Authority of Civil Aviation, will see the Kingdom showcasing some USD 100 bn worth of investment options in the aviation and logistics sector at large.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh will host a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/globalaisummit\/status\/1789658478690078841\" style=\"\" rel=\"noopener\">Global AI Summit<\/a><\/strong><strong> from 10-12 September<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2101219\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. The event, which is organized by the Saudi Authority for Data and Artificial Intelligence, will focus on key AI topics and trends, delving into its local and global adoptions, ethics, and infrastructure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dammam will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudimaritimecongress.com\/en\/home.html\" style=\"\" rel=\"noopener\">Saudi Maritime and Logistics Congress<\/a><\/strong><strong> from Wednesday, 18 <\/strong><strong>September to Thursday, 19 September.<\/strong> The two-day event looks to gather up to 10k attendees and 200 exhibitors, and will discuss topics including interlinked logistics, developments in supply chains, digitalisation, decarbonisation, the energy transition, and workforce development.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div 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          <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/rasan-one-step-closer-to-tadawul-ipo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1764.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86079\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/rasan-one-step-closer-to-tadawul-ipo\/1764-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1764.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1764.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1764.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1764.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86078\" class=\"content-area-description single-story post-86078 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-capital-markets tag-enterpriseam-ksa tag-ipo-watch tag-rasan tag-tadawul wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.ad6a8609-c3b6-42ef-b3f9-8d6baad8a810.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fintech startup Rasan has set a price range of SAR 35-37 per share for its <\/strong><strong>IPO on<\/strong><strong> Tadawul\u2019s <\/strong><strong>main market<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/787.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. It is selling a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/acdb8d91-d4b7-48d8-ac15-7edee6e26513\/fintech-player%253cmark%253e-rasan%253c%2Fmark%253e-files-to-go-public\" style=\"\" rel=\"noopener\">30% stake<\/a> through an offering of existing and new shares. That range means Rasan could raise as much as SAR 841 mn from the IPO, and values the company at up to SAR 2.8 bn, according to our calculations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Subscription to the IPO kicked off yesterday for institutional investors<\/strong> and will run until this Thursday, 16 May. Retail investors will have two days to place their orders starting Thursday, 29 May. The share sale sees Rasan offering 22.7 mn shares, including 17.4 mn shares from 15 selling shareholders and 5.3 mn news shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> The final allocation of shares will take place on Tuesday, 4 June, with any excess subscription fees set to be refunded by Thursday, 6 June. The first day of trading remains contingent on meeting fulfilling relevant regulatory requirements.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds:<\/strong> Rasan plans to use the proceeds to \u201cexpand the group\u2019s current operations and products, market and develop the group\u2019s new products, and finance the general purposes of the group,\u201d it had said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/854.pdf\" style=\"\" rel=\"noopener\">intention to float (pdf)<\/a>. A portion of the net proceeds \u2014 after deducting SAR 40.4 mn to cover IPO-related expenses \u2014 will be distributed to the selling shareholders on a pro rata basis. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Rasan is a first mover in an industry with plenty of room to grow <\/strong>thanks to both the under-penetration of the industry and ins. industry targets in Vision 2030. Per the ITF: \u201cIns. penetration in the Kingdom, defined as gross written premiums as % of GDP, stood at 1.3% in 2022, considerably lower relative to regional markets (UAE: 2.5%, Bahrain: 1.7%) and even lower compared to the global average of 6.6%.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong><strong> Saudi Fransi Capital<\/strong> is quarterbacking the transaction as financial advisor, lead manager, bookrunner and underwriter. <strong>Morgan Stanley Saudi Arabia<\/strong> is also acting as financial advisor, bookrunner, and underwriter. Receiving banks include <strong>Banque Saudi Fransi <\/strong>and <strong>AlRajhi Bank<\/strong>.&nbsp;<strong>Latham &amp; Watkins<\/strong> is Rasan\u2019s legal advisor, while <strong>White &amp; Case<\/strong> was appointed as legal advisor to the lead manager, financial advisors, underwriters, and bookrunners.&nbsp;<strong>PwC <\/strong>is financial due diligence advisor and marketing consultant and <strong>EY<\/strong> is serving as auditor.<\/p>\n<p class=\"tag-border-left\">SAUDI IPO PIPELINE AT A GLANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among the transactions now in the market or expected soon:<\/strong><\/p>\n<ul>\n<li>Labor agency <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/96911c23-6f1f-4fcd-9761-e120d97d11b7\" style=\"\" rel=\"noopener\">Saudi Manpower Company (Smasco)<\/a>&nbsp;is selling a 30% stake;<\/li>\n<li>Water treatment outfit <a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/0c079d3d-57fd-428f-bbc5-271112fe5ac7\/water-company-miahona-prices-its-ipo-top-of-the-range-as-investors-show-strong-interest\" style=\"\" rel=\"noopener\">Miahona<\/a>&nbsp;has priced its IPO at the top of the range after recording strong investor appetite;<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a19c1059-f5ee-49d2-94a6-00b3bac9c60b\" style=\"\" rel=\"noopener\">Dr Soliman Abdul Kader Fakeeh Hospital<\/a>&nbsp;looks set to become the largest IPO so far this year;<\/li>\n<\/ul>\n<ul>\n<li>Budget airline <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e299d7ad-c3f0-4533-bc3f-4dfb58ab2eb4\/\" style=\"\" rel=\"noopener\">Flynas<\/a>&nbsp;is reportedly looking to go public this year;<\/li>\n<\/ul>\n<ul>\n<li>PIF-backed lender Riyad Bank is considering the listing of its investment banking arm <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/291a8d44-0629-42f6-ae3b-2f9c2eb7bcbd\/riyad-capital-is-eyeing-a-tadawul%253cmark%253e-ipo%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Riyad Capital<\/a>&nbsp;;<\/li>\n<li>Hotels and resorts operator <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c8620363-c996-408b-8d01-914668fdbb63\/hotels-and-resorts-operator-boudl-says-it-will-file-to-go-public-this-year\" style=\"\" rel=\"noopener\">Boudl<\/a>&nbsp;has filed to go public;<\/li>\n<\/ul>\n<ul>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9da021c4-8337-47f8-b4f7-7e13f94d0e7e\/modern-mills-inches-closer-to-listing-on-main-market-tadawul\" style=\"\" rel=\"noopener\">Fourth Milling Company<\/a>&nbsp;will list before the end of June;<\/li>\n<li>Singapore\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/927c9005-50b0-4a1f-b4e5-599628a82d8b\/singapore%25e2%2580%2599s-olam-group-is-still-looking-at-a-saudi-ipo-for-is-agriculture-unit\" style=\"\" rel=\"noopener\">Olam Group<\/a>&nbsp;is mulling the IPO of its Olam Agri subsidiary on Tadawul;<\/li>\n<li>Hypermarket operator <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/eaeb2656-fa3e-4e48-8d21-772adfd9470f\/hypermarket-operator-lulu-is-said-to-be-shopping-for-bankers-as-it-eyes-ipo-on-tadawul-and-adx\" style=\"\" rel=\"noopener\">Lulu<\/a>&nbsp;is said to be eyeing a dual listing on Tadawul and ADX;<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/78df2631-68ae-4b15-86cd-59bab3c278b7\/aster-dm-healthcare-eyes-expansion-in-saudi,-dual-listing-of-gcc-unit-on-tadawul\" style=\"\" rel=\"noopener\">Aster DM Healthcare<\/a>&nbsp;looks set to spin-off its GCC assets and seek a dual listing on Tadawul and in the UAE.<\/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\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/rasan\/\">Rasan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tadawul\/\">Tadawul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86080\" 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=\"86080\">\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\">AVIATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/the-future-aviation-forum-icao-global-summit-get-underway-next-week\/\">\r\n                            The Future Aviation Forum + ICAO Global Summit get underway 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\/13\/the-future-aviation-forum-icao-global-summit-get-underway-next-week\/\" 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\/13\/the-future-aviation-forum-icao-global-summit-get-underway-next-week\/')\">\n                    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-->\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\/13\/the-future-aviation-forum-icao-global-summit-get-underway-next-week\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/786.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86081\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/the-future-aviation-forum-icao-global-summit-get-underway-next-week\/786-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/786.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"786.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/786.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/786.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86080\" class=\"content-area-description single-story post-86080 post type-post status-publish format-standard has-post-thumbnail hentry category-aviation tag-aviation tag-enterpriseam-ksa tag-facilitation-2024-global-summit tag-future-aviation-forum-faf tag-international-civil-aviation-organization-icao 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\/.8b671186-4d82-4a7b-b52e-ff79ea5092ba.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Riyadh is hosting two major, overlapping aviation events next week:<\/strong> The <a target=\"_blank\" href=\"https:\/\/futureaviationforum.com\/en\" style=\"\" rel=\"noopener\">Future Aviation Forum (FAF)<\/a> \u2014 where investment projects worth USD 100 bn will be up for grabs \u2014 and the <a target=\"_blank\" href=\"https:\/\/www.icao.int\/Meetings\/FAL2024\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">International Civil Aviation Organization\u2019s (ICAO)<\/a> Facilitation 2024 Global Summit. The FAF is set to run from Monday, 20 May, through to Wednesday, 22 May, while the two-day ICAO summit is scheduled for kickoff on Tuesday, 21 May. Both events will be hosted at the King Abdulaziz International Conference Center.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some 5k aviation executives from aviation majors including Boeing, Airbus, China\u2019s <\/strong><strong>Comac, and Embraer<\/strong>, along with industry experts, manufacturers and government officials are expected to arrive in the capital for both events. The FAF will be hosted and run by the General Civil Aviation Authority (Gaca). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context:<\/strong> The events are part of the Kingdom\u2019s aviation strategy, which the government hopes to turn into <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2507926\/business-economy\" style=\"\" rel=\"noopener\">a USD 2 bn industry<\/a>, and the country\u2019s extending air connectivity to a total of <a target=\"_blank\" href=\"https:\/\/gaca.gov.sa\/web\/ar-sa\/news\/translation-of-ar_sa-8-may-2024-_39254\" style=\"\" rel=\"noopener\">250 countries<\/a> by 2030. FAF \u2014 headlined \u201cElevating global connectivity\u201d \u2014 is expected to see the government draw back the curtain on how it plans to achieve these goals. This also plays into the government\u2019s tourism target, which was more than doubled aiming to lure <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4d43f6ce-8ecc-41b8-8135-0da085f9952c\" style=\"\" rel=\"noopener\">150 mn tourist trips by 2030<\/a>, after hitting an earlier target of 100 mn last year ahead of plan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown potential investments on the table: <\/strong>Some USD 50 bn are earmarked for local airport development, and USD 40 bn for new aircraft orders, according to <a target=\"_blank\" href=\"https:\/\/spa.gov.sa\/en\/N2100150\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>. Some USD 5 bn are reserved for setting up special logistics zones in some of the airports in Riyadh, Jeddah, and Dammam, and the remaining USD 5 bn will be channeled towards other aviation-related projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the agenda for FAF:<\/strong> Air mobility, travel safety, sustainable jet fuels, digitization, and the use of AI. You can check out the full <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/759.pdf\" style=\"\" rel=\"noopener\">agenda (pdf) here<\/a>&nbsp;and watch the event live <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/channel\/UCX16r5UYLzUoWeHJ4yw8QdQ\/videos\" style=\"\" rel=\"noopener\">here<\/a> or register to attend <a target=\"_blank\" href=\"https:\/\/registration.futureaviationforum.com\/en\/join\/public-delegate\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE-<\/strong> ICAO\u2019s summit will focus on facilitation measures that make it easier and quicker for passengers, cargo, and aircrafts to move across international borders. This includes strategies to improve services for persons with disability and elderly, and innovation to improve traveler experiences. Here\u2019s the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/777.pdf\" style=\"\" rel=\"noopener\">preliminary agenda (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among the<\/strong><strong> prominent speakers at both events include:<\/strong><\/p>\n<ul>\n<li>Transport and Logistics Minister <strong>Saleh Bin Nasser Al-Jasser;<\/strong><\/li>\n<li>GACA President <strong>Abdulaziz Bin Abdullah Al-Duailej<\/strong>; <\/li>\n<li>CEO of Riyadh Air <strong>Tony Douglas<\/strong>;<\/li>\n<li>CEO of Flyadeal <strong>Steven Greenway<\/strong>; <\/li>\n<li>CEO and Managing Director of Flynas <strong>Bander AlMohana<\/strong>;<\/li>\n<li>ICAO President <strong>Salvatore Sciacchitano<\/strong>;<\/li>\n<li>ICAO\u2019s Secretary General, <strong>Juan Carlos Salazar<\/strong>;<\/li>\n<li>CEO of Wizz Air <strong>J\u00f3zsef V\u00e1radi<\/strong>;<\/li>\n<li>Director General of Global Express Association <strong>Carlos Grau Tanner<\/strong>; <\/li>\n<li>CEO of Flydubai <strong>Ghaith AlGhaith<\/strong>; <\/li>\n<li>Riyadh Airports Company CEO <strong>Ayman Abdul Aziz AboAbah<\/strong>;<\/li>\n<li>US Department of State official<strong> Callan Thomas<\/strong>;<\/li>\n<li>Canadian Transportation Agency Chairperson and CEO,<strong> France P\u00e9geot<\/strong>;<\/li>\n<li>Finnish Immigration Service CTO, <strong>Christopher Bonn<\/strong>;<\/li>\n<li>UN\u2019s Countering Terrorist Travel Chief, <strong>Christine Bradley<\/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\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/facilitation-2024-global-summit\/\">Facilitation 2024 Global Summit<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/future-aviation-forum-faf\/\">Future Aviation Forum (FAF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/international-civil-aviation-organization-icao\/\">International Civil Aviation Organization (ICAO)<\/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=\"86082\" 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=\"86082\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/film-commission-becomes-movie-regulator\/\">\r\n                            Saudi Film Commission takes over from General Authority of Media Regulation as regulator of the Kingdom\u2019s burgeoning film industry                        <\/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\/13\/film-commission-becomes-movie-regulator\/\" 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\/13\/film-commission-becomes-movie-regulator\/')\">\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\/13\/film-commission-becomes-movie-regulator\/\">\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=Film Commission becomes movie regulator&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/film-commission-becomes-movie-regulator\/\">\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\/13\/film-commission-becomes-movie-regulator\/&title=Film Commission becomes movie regulator\">\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=Film+Commission+becomes+movie+regulator+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F13%2Ffilm-commission-becomes-movie-regulator%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\/13\/film-commission-becomes-movie-regulator\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/864.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86083\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/film-commission-becomes-movie-regulator\/864-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/864.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"864.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/864.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/864.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86082\" class=\"content-area-description single-story post-86082 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-enterpriseam-ksa tag-film tag-general-authority-of-media-regulation tag-regulation-watch tag-saudi-film-commission tag-television 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\/.a0c382b0-2826-40b4-84bd-c7e0e64df28f.mp3\"><\/audio><\/figure><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:\/\/film.moc.gov.sa\/en\" style=\"\" rel=\"noopener\">Saudi Film Commission<\/a><\/strong><strong> will now be tasked with issuing licenses and permits for the <\/strong><strong>film industry<\/strong> instead of the General Authority of Media Regulation, the commission said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/FilmMOC\/status\/1789672290529013797\/photo\/1\" style=\"\" rel=\"noopener\">post on X<\/a> yesterday. Its scope of work will include licenses for the production of films and series, the operation of studios, and distribution of foreign movies. It will also issue licenses for operators to run permanent, temporary, and specialized cinemas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> The transfer of competence to the Film Commission comes as part of its key role in developing the industry\u2019s value chain. You can explore the licenses on offer through the Abde\u2019a platform <a target=\"_blank\" href=\"https:\/\/abdea.moc.gov.sa\/\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s all to drive demand:<\/strong> The Film Commission <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6c2cfbf8-89ba-4718-9252-e5ded6410e93\/less-expensive-movie-tickets-could-be-happening\" style=\"\" rel=\"noopener\">approved last month<\/a> imposing a lower sales tax on the sale of tickets at the local box office, in a move it said will help encourage private cinema operators to reduce ticket prices and drive demand. The commission approved slashing licensing fees levied on operators to run permanent, temporary and specialized cinemas.<\/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\/film\/\">film<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/general-authority-of-media-regulation\/\">General Authority of Media Regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-film-commission\/\">Saudi Film Commission<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/television\/\">television<\/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=\"86084\" 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=\"86084\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/who-appraises-the-real-estate-appraisers\/\">\r\n                            Taqeem proposes regulations on real estate appraisal services                        <\/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\/13\/who-appraises-the-real-estate-appraisers\/\" 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\/13\/who-appraises-the-real-estate-appraisers\/')\">\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\/13\/who-appraises-the-real-estate-appraisers\/\">\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=Who appraises the (real estate) appraisers?&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/who-appraises-the-real-estate-appraisers\/\">\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\/13\/who-appraises-the-real-estate-appraisers\/&title=Who appraises the (real estate) appraisers?\">\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=Who+appraises+the+%28real+estate%29+appraisers%3F+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F13%2Fwho-appraises-the-real-estate-appraisers%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\/13\/who-appraises-the-real-estate-appraisers\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1594.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86085\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/who-appraises-the-real-estate-appraisers\/1594-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1594.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1594.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1594.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1594.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86084\" class=\"content-area-description single-story post-86084 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-enterpriseam-ksa tag-real-estate tag-regulation-watch tag-saudi-authority-of-accredited-valuers-taqeem 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\/.831bb572-5564-42e0-b0b8-6901cd330f56.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Saudi Authority of Accredited Valuers (Taqeem) is out with two <\/strong><strong>proposed <\/strong><strong>sets of<\/strong><strong> regulations related to real estate appraisal services<\/strong>, including rules on the real estate appraisal process as well as guidelines on who can be accredited as an appraiser. The breakdown:<\/p>\n<p class=\"tag-border-left\">REAL ESTATE APPRAISAL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/734.pdf\" style=\"\" rel=\"noopener\">Regulations (pdf)<\/a><\/strong><strong>&nbsp;on real estate appraisal services set out the framework.<\/strong> They\u2019ve been put up on the government\u2019s survey platform, <a target=\"_blank\" href=\"https:\/\/istitlaa.ncc.gov.sa\/ar\/Trade\/taqeem\/Regulationsofproviderealestatevaluationservi\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Istitlaa<\/a>, for public consultation until Monday, 20 May.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A look at requirements for eligibility: <\/strong>Appraisers or relevant partners must obtain a fellowship certificate from Taqeem in real estate appraisal. They need 20k hours of experience registered on the authority\u2019s electronic platforms and have no less than five of the authority\u2019s members on board of the real estate appraisal entity. Their license should be valid for at least 120 days. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All applications for registration would be submitted online through the authority\u2019s <\/strong><strong>dedicated <\/strong><strong><a target=\"_blank\" href=\"https:\/\/qaym.sa\/\" style=\"\" rel=\"noopener\">Qaym platform<\/a><\/strong>, and the relevant department must take a decision on the application for no more than 15 days. Taqeem will compile a list of qualified appraisal entities which will be updated periodically. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A specialized Taqeem department<\/strong><strong> could suspend accredited appraisal entities from <\/strong><strong>receiving requests through Qaym <\/strong>if they fail to meet these terms. Suspension of orders could also occur in case of accredited appraisers requesting the halt of orders or reaching the maximum allotted number of daily orders. Orders for entities could also be paused if they take too long to complete requests or respond to objections.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Appraisals are not set in stone<\/strong>, and financial institutions (think commercial banks and finance firms under Saudi Central Bank supervision) could reject an appraisal report if the appraising entity fails to submit it within three days after it was due or respond to comments by financial institutions on the report within two working days of their submission. They can also be rejected in case multiple reports of the same real estate asset show a 15% discrepancy in value between submitted reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fines + penalties: <\/strong>Appraisers can face fee cuts of 10% of the agreed upon fee in the case of delays, which rises in increments of five percentage points each day to a maximum of 20% if the report is delayed by three days. Failure to submit reports after will see requests assigned to another appraisal entity within the platform who will be paid through the originally tasked appraiser\u2019s financial dues from Taqeem. Multiple infractions by the same appraiser will result in its exclusion from the platform, and will only be able to re-apply after 180 days from the date of their exclusion. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An accredited appraiser will be permanently excluded from the platform in the event of:<\/strong><\/p>\n<ul>\n<li>Being found in violation of the provisions more than once in the same year by a committee tasked with considering irregularities;<\/li>\n<li>Providing services to financial institutions outside of the platform;<\/li>\n<li>Hiring people who aren\u2019t cleared to execute appraisals through the platform;<\/li>\n<li>Enlisting a beneficiary or property owner to inspect and photograph the real estate asset subject to appraisal;<\/li>\n<li>Disclosing a client's information;<\/li>\n<li>Appraising an asset in a situation where there is a conflict of interest;<\/li>\n<li>Assigning assessment tasks to others off the books;<\/li>\n<li>Being found guilty of fraud, manipulation, and other gross violations.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Financial institutions<\/strong><strong> are responsible for submitting the necessary documents for each <\/strong><strong>appraisal request through Qaym.<\/strong> They should also ensure that there is no influence on the appraiser that might compromise their independence or decision and are required to address remarks from the appraiser within a maximum period of five days and review reports within 10 days at most. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Minimum fees for appraisal services provided to financial institutions are determined by <\/strong><strong>Taqeem\u2019s CEO<\/strong>, the rules showed. The fees are set depending on appraisal entities fulfilling regulatory compliance and occupational requirements. Fees are disbursed to appraisal entities through Qaym on a monthly basis after they are paid by financial institutions. They will be paid out through Qaym within up to 15 days from the completion of payment.<\/p>\n<p class=\"tag-border-left\">PROFESSIONAL CERTIFICATES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taqeem is also seeking the public\u2019s opinion on <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/765.pdf\" style=\"\" rel=\"noopener\">another set of rules (pdf)<\/a><\/strong><strong> regulating <\/strong><strong>obtaining professional certification for accredited appraisers.<\/strong> Applicants, who will be put through qualification programs by the authority, should be Saudi nationals and hold a minimum of a high school degree.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> The regulations aim to unify the policies and procedures for obtaining certificates for the appraisal of real estate, machinery, equipment and movable property, as well as vehicle damage inspection. They also target meeting market needs for specialized personnel in the industry. They are up for public consultations on <a target=\"_blank\" href=\"https:\/\/istitlaa.ncc.gov.sa\/ar\/Trade\/taqeem\/taqeem\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Istitlaa<\/a> until Thursday, 16 May.<\/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\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-authority-of-accredited-valuers-taqeem\/\">Saudi Authority of Accredited Valuers (Taqeem)<\/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=\"86086\" 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=\"86086\">\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\">GIGAPROJECTS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/neom-is-hiring-everything-from-builders-to-marketers\/\">\r\n                            Neom is hiring everything from builders to marketers                        <\/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\/13\/neom-is-hiring-everything-from-builders-to-marketers\/\" 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\/13\/neom-is-hiring-everything-from-builders-to-marketers\/')\">\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\/13\/neom-is-hiring-everything-from-builders-to-marketers\/\">\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=Neom is hiring everything from builders to marketers&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/neom-is-hiring-everything-from-builders-to-marketers\/\">\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\/13\/neom-is-hiring-everything-from-builders-to-marketers\/&title=Neom is hiring everything from builders to marketers\">\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=Neom+is+hiring+everything+from+builders+to+marketers+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F13%2Fneom-is-hiring-everything-from-builders-to-marketers%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\/13\/neom-is-hiring-everything-from-builders-to-marketers\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1185.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86087\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/neom-is-hiring-everything-from-builders-to-marketers\/1185-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1185.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1185.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1185.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1185.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86086\" class=\"content-area-description single-story post-86086 post type-post status-publish format-standard has-post-thumbnail hentry category-gigaprojects tag-gigaprojects tag-neom 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\/.cd11425e-3ba4-4447-a852-0f9da84f2299.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Neom is seeking fresh hires:<\/strong> Recruitment remains at full speed at Neom, with some 246 job openings, its <a target=\"_blank\" href=\"https:\/\/careers.neom.com\/careers\" style=\"\" rel=\"noopener\">website<\/a> showed. The openings range from typical contractor jobs related to the ongoing construction of the USD 500 bn development to marketing positions to promote the city in Europe and elsewhere.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The hiring spree comes as Neom embarked on a drive to assure <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d415e8f0-fa26-473b-acf6-0a2208bd6637\/\" style=\"\" rel=\"noopener\">contractors<\/a>&nbsp;and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e8706c8f-4009-4953-8129-18c0cd862016\/\" style=\"\" rel=\"noopener\">bankers<\/a>&nbsp;that the buildout of the city was proceeding on schedule after reports of the government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/083185a1-da33-46d9-809b-4562199b25b6\/\" style=\"\" rel=\"noopener\">scaling back the project<\/a>. Neom also recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/75787763-837c-42a8-9501-9061ab9fc3fe\" style=\"\" rel=\"noopener\">came off the road in China<\/a> with officials looking to rally interest from Hong Kong, Beijing, and Shanghai. It is looking to diversify its funding sources away from PIF, which has poured most of the funding into the project in the form of equity. Last month, Neom secured a fresh revolving credit facility <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/75787763-837c-42a8-9501-9061ab9fc3fe\" style=\"\" rel=\"noopener\">worth SAR 10 bn<\/a> from local banks to help it meet short-term financing needs. It is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/11d20e6c-678e-468e-879b-82edc958350b\" style=\"\" rel=\"noopener\">reportedly planning<\/a> a SAR-denominated bond sale in what could be its first-ever sukuk sale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch:<\/strong> Economy and Planning Minister Faisal Alibrahim <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/90373716-a067-4b54-bad2-897195c8cd1f\" style=\"\" rel=\"noopener\">said last month<\/a> that gigaprojects like Neom will be delivered at their intended scale in a way that satisfies the market and investors and ensures optimal economic growth for the Kingdom. However, he stressed that the government is being cautious not to \u201coverheat\u201d the economy to fund the projects.<\/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\/gigaprojects\/\">Gigaprojects<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neom\/\">NEOM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86088\" 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=\"86088\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/the-1q-earnings-season-is-in-full-swing\/\">\r\n                            The 1Q earnings season is in full swing                        <\/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\/13\/the-1q-earnings-season-is-in-full-swing\/\" 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 company\u2019s revenues rose 18.5% y-o-y to SAR 15.9 bn over the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Strong performance: <\/strong>SEC attributed the growth to booking more business, higher returns on investment, lower financing costs, and holding less provisions for receivables. This has resulted in a 178% increase in total comprehensive income to SAR 1.2 bn last quarter. SEC spent SAR 10 bn in capex, a 48% y-o-y increase, CEO Khalid Al Gnoon told <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2101027\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>.<\/p>\n<p class=\"tag-border-left\">MOBILY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Etihad <\/strong><strong>Etisalat (Mobily) booked SAR 638 mn in net income in 1Q 2024, up 37% y-o-y<\/strong>, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/732.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Meanwhile, the telecom company recorded its \u201chighest quarterly revenues in the past decade,\u201d at SAR 4.5 bn \u2014 a 11.7% y-o-y increase \u2014 reflecting strong performance across all revenue streams and a widening subscriber base.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mobily\u2019s capex remained largely unchanged in 1Q 2024<\/strong>, inching up 0.5% y-o-y to SAR 223 mn, while its freecash flow increased 6.7% y-o-y to SAR 1.4 bn. The company also reduced its net debt position by SAR 2.6 bn on an annual basis last quarter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KUDOS- <\/strong>The telecom giant received the best customer award from CST for the third year running, along with other awards for video experience and download speed. The company was also branded the fastest growing telecom brand in the Middle East by Brand Finance.<\/p>\n<p class=\"tag-border-left\"> ZAIN KSA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Telecom operator <\/strong><strong>Zain KSA\u2019s net income dropped to SAR 67 mn in 1Q 2024, down from <\/strong><strong>SAR 1.1 bn in the <\/strong><strong>same quarter last year<\/strong>,<strong> <\/strong>according to a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/ynrb2uas\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The telecom company had initially reported <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/761.pdf\" style=\"\" rel=\"noopener\">SAR 480 mn in net income for 1Q 2023 (pdf)<\/a>, before adjusting the figure to SAR 1.1 bn to account for realizing the full gain from the sale of <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/financial-reports\/company-report\/1058\/2024\/70\" style=\"\" rel=\"noopener\">3.6k towers to Golden Lattice Investment (Glic)<\/a>. Meanwhile, revenues inched up 4.7% y-o-y to SAR 2.5 bn last quarter on the back of growth in the B2B, 5G services, wholesale and Tamam segments.<\/p>\n<p class=\"tag-border-left\">ELM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Digital security firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.elm.sa\/en\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Elm<\/a><\/strong><strong> \u2014 a unit of the PIF \u2014 reported a 7.1% y-o-y increase <\/strong><strong>in net <\/strong><strong>income <\/strong><strong>to SAR 345 mn in 1Q 2024<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/57yuzu2x\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. Revenues rose 27.3% y-o-y to SAR 1.6 bn last quarter, fueled by booking more business from the digital business and business process outsourcing segments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re yet to hear an update about Elm\u2019s efforts to acquire the PIF\u2019s stake in business <\/strong><strong>service provider Thiqah.<\/strong> The related parties <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDRboIwFP0WP2BpwVDwEUeGLKggOIUXU0qHJEJJKWT69Stg4nTTbU0fem_POffcA2KwBXGJ2zzDImclPsg6itFOMxFUZwZcwln4DBEMbLQODcVSEdhcA4y5jaC_MP2lqmvQfoMg_hcfBp4G_RdvPnbhCtoQ_Y0P7xzz1_mR5Ot3AY4CAhCDODkGxyJhBxDpKhwPHbMsWVMSWtBSgEiRTuLrYUtzostdXqe245pjA-m3gB_CurH7PY0e8GDdgJZ9Jg932nBas4YTClYZFV8XcfNaWFhg4BNM9tSlLT14OKNDDDht85rxukPJ5GSnpkQwblVOeq5vYqo4SxsiwmNFB4BgUv78rqRwkJ9kpcBBDHOyv2C7_0VTJJRbCYjUrvXOWXERwJ1z0vkeSMruSemH0A8R9GIDLpUMj_KcdS6rYr3enkKaTJzca-fThdZe32w0-gSMBtWc\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzcyMDMvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc0MTc1\/\" style=\"\" rel=\"noopener\">began talks in June<\/a> to fully acquire the fund\u2019s stake in Thiqah. PIF is a majority shareholder in both Elm and <a target=\"_blank\" href=\"https:\/\/thiqah.sa\/en\/\" style=\"\" rel=\"noopener\">Thiqah<\/a>.<\/p>\n<p class=\"tag-border-left\">SAUDI LOGISTICS SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Logistics Services\u2019 net income doubled <\/strong><strong>y-o-y<\/strong><strong> to SAR 208.5 mn in 1Q 2024<\/strong>, and revenues rose 33% to SAR 452.5 mn, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/737.pdf\" style=\"\" rel=\"noopener\">shareholders relations prospectus (pdf)<\/a>. The growth in top line was attributed to a 24% increase in booked business from the cargo handling segment \u2014 which accounted for 81% of overall revenues \u2014 along with an 89% hike in revenues from the logistics solutions segment which accounts for the remainder of overall revenues. <\/p>\n<p class=\"tag-border-left\">ALMUNAJEM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Almunajem Foods\u2019 net income grew 39.2% <\/strong><strong>y-o-y<\/strong><strong> to SAR 114 mn<\/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\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MTYyL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5OTc0\/\" style=\"\" rel=\"noopener\">a disclosure<\/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\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MTYyL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5OTc0\/\" style=\"\" rel=\"noopener\">to Tadawul<\/a>. Meanwhile, its top line remained essentially unchanged at SAR 903 mn last quarter.<\/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\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/technology\/\">Technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/telecoms\/\">telecoms<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86090\" 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=\"86090\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/spark-appoints-new-chairman\/\">\r\n                            Spark names Nasir Al-Naimi as its new chairman                        <\/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\/13\/spark-appoints-new-chairman\/\" 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\/13\/spark-appoints-new-chairman\/')\">\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\/13\/spark-appoints-new-chairman\/\">\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=Spark appoints new chairman&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/spark-appoints-new-chairman\/\">\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\/13\/spark-appoints-new-chairman\/&title=Spark appoints new chairman\">\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=Spark+appoints+new+chairman+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F13%2Fspark-appoints-new-chairman%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\/13\/spark-appoints-new-chairman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/804.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86091\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/spark-appoints-new-chairman\/804-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/804.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"804.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/804.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/804.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86090\" class=\"content-area-description single-story post-86090 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-ksa tag-king-salman-energy-park-spark tag-moves tag-nasir-al-naimi 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\/.6d84c41c-0cf3-4dbe-9fed-b59d63af914a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>King Salman Energy Park (Spark) has appointed <\/strong><strong>Nasir Al Naimi<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/about-us\/our-leadership\/nasir-al-naimi\" style=\"\" rel=\"noopener\">bio<\/a>)as its new chairman, succeeding Mohammed Al Qahtani (<a target=\"_blank\" href=\"http:\/\/linkedin.com\/in\/mohammed-al-qahtani-256804225\" style=\"\" rel=\"noopener\">Linkedin<\/a>), according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/people-in-the-news\/king-salman-energy-park-announces-chairman-appointment-qq5h0shh\" style=\"\" rel=\"noopener\">a press release<\/a>. Al Naimi has previously held leadership roles at Aramco, and the Arabian Drilling Company.<\/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\/king-salman-energy-park-spark\/\">King Salman Energy Park (Spark)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nasir-al-naimi\/\">Nasir Al-Naimi<\/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=\"86092\" 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=\"86092\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/biden-administration-at-crossroads-over-defense-pact-with-saudi\/\">\r\n                            Biden administration at crossroads over defense pact with Saud                        <\/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\/13\/biden-administration-at-crossroads-over-defense-pact-with-saudi\/\" 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\/13\/biden-administration-at-crossroads-over-defense-pact-with-saudi\/')\">\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\/13\/biden-administration-at-crossroads-over-defense-pact-with-saudi\/\">\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=Biden administration at crossroads over defense pact with Saudi&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/biden-administration-at-crossroads-over-defense-pact-with-saudi\/\">\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\/13\/biden-administration-at-crossroads-over-defense-pact-with-saudi\/&title=Biden administration at crossroads over defense pact with Saudi\">\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=Biden+administration+at+crossroads+over+defense+pact+with+Saudi+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F13%2Fbiden-administration-at-crossroads-over-defense-pact-with-saudi%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\/13\/biden-administration-at-crossroads-over-defense-pact-with-saudi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/846.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86093\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/biden-administration-at-crossroads-over-defense-pact-with-saudi\/846-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/846.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"846.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/846.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/846.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86092\" class=\"content-area-description single-story post-86092 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-enterpriseam-ksa tag-jake-sullivan tag-joe-biden tag-normalization tag-saudi-in-the-news 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\/.28a7035f-d4ba-48bd-bcf3-c78a4e986079.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s no single story dominating coverage of Saudi in the foreign press this morning<\/strong>, but the <a target=\"_blank\" href=\"https:\/\/www.voanews.com\/a\/us-nears-decision-point-on-security-deal-with-saudis\/7608146.html\" style=\"\" rel=\"noopener\">Voice of America<\/a> is out with a piece on what\u2019s at stake for a defense pact between Saudi and the US. The Biden administration is mulling whether to proceed with an agreement that doesn\u2019t include Saudi normalization with Israel, or hold its ground on the normalization, pundits say. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Reuters and Bloomberg reported <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4f8c0a4d-68ec-47a3-b22d-411374abe3a6\" style=\"\" rel=\"noopener\">earlier this month<\/a> that an agreement is in the works despite White House national security adviser Jake Sullivan saying that Washington agreeing to the bilateral pact is contingent on normalization.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Elsewhere: Local professionals aren\u2019t thrilled with foreign consultants \u2014 or their price <\/strong><strong>tags.<\/strong> That\u2019s the takeaway from a piece in the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/908b1883-f4de-4d53-bfee-acdc01602223\" style=\"\" rel=\"noopener\">Financial Times<\/a> on the ubiquity of international consultancy firms in the Kingdom, which some have argued has become an unnecessary expense with little return.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context:<\/strong> Saudi\u2019s consultancy market grew to a record USD 3 bn in 2023, the salmon-colored paper writes, citing data by Source Global Research. That\u2019s about the same size as the Swiss market for the same services.<\/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\/jake-sullivan\/\">Jake Sullivan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/normalization\/\">Normalization<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86094\" 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=\"86094\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/chinese-contractor-cmec-to-build-20k-residential-units-in-projects-in-saudi-plus-technology-tourism-and-manufacturing\/\">\r\n                            Chinese contractor CMEC to build 20k residential units in projects in Saudi. Plus: technology, tourism and manufacturing                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/chinese-contractor-cmec-to-build-20k-residential-units-in-projects-in-saudi-plus-technology-tourism-and-manufacturing\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/chinese-contractor-cmec-to-build-20k-residential-units-in-projects-in-saudi-plus-technology-tourism-and-manufacturing\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/chinese-contractor-cmec-to-build-20k-residential-units-in-projects-in-saudi-plus-technology-tourism-and-manufacturing\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Chinese contractor CMEC to build 20k residential units in projects in Saudi. 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Neither the financial value, timeline, or project locations were disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> This comes just weeks after NHC sealed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e90b0c8a-850a-47b4-a92a-e647a2ce38a9\/spanish-contractor-urbas-to-build-residential-units-at-riyadh%25e2%2580%2599s-al-fursan.-plus:-education,-debt-and-digital-solutions\" style=\"\" rel=\"noopener\">SAR 1 bn contract<\/a> with Spanish company <a target=\"_blank\" href=\"https:\/\/grupourbas.com\/en\/infrastructure-building\/\" style=\"\" rel=\"noopener\">Urbas<\/a> to build 589 residential units for its Al Fursan project. The project, which is being developed by the Housing Ministry\u2019s real estate investment arm, is one of the biggest suburbs regionally.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Al Akaria finalizes contract for Diriyah car parking project: <\/strong>Binyah \u2014 a unit of Saudi Real Estate (Al Akaria) \u2014 signed a SAR 532.1 mn contract to carry out excavation work for two car parks for PIF-owned Diriyah Gate, 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\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MDIwL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5OTU0\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The freshly-inked contract will be valid for c. 14 months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Binyah is carrying out excavation work for a new metro line under a SAR 722 mn contract signed with Diriyah Gate last month.<\/p>\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- The Islamic Development Bank (IsDB) raised USD 2 bn from its first <\/strong><strong>benchmark sukuk <\/strong><strong>issuance this year<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.isdb.org\/news\/isdb-issues-us-2-billion-sukuk-in-first-benchmark-of-the-year\" style=\"\" rel=\"noopener\">statement last week<\/a>. It was priced at a final yield of 4.754% payable on a semi-annual basis. The sale for the five-year sukuk was oversubscribed, with \u201cstrong participation from real money accounts and official institutions as well as a number of first-time investors,\u201d the Jeddah-based multilateral lender said. The final allocation saw 58% to investors from the region, followed by 17% for Asian investors and 16% to European investors and 9% for US offshore and others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds:<\/strong> The IsDB said it will channel proceeds from the sale for the development of sustainable projects across its 57 member countries. The projects aim to boost food security, reduce poverty and provide sustainable infrastructure among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>IsDB hired out friends at HSBC as joint lead manager and joint bookrunners along with Citi, Cr\u00e9dit Agricole Corporate and Investment Bank, Standard Chartered, DBS Bank, ICBC, Natixis, SNB Capital, Dubai Islamic Bank, and Sharjah Islamic Bank.<\/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- Al Rajhi Bank wrapped up the issuance of USD 1 bn additional tier 1 sustainable <\/strong><strong>sukuk<\/strong> at a final yield of 6.375%, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyNDQyEA_ODVPvyA3NMIgMyA3XNdREQDruWgm\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTk1NS9jb21wYW55U3ltYm9sLzExMjAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The debt transaction saw heavy demand from local and foreign investors with some USD 3.5 bn in orders, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3150dc12-d5dc-4b50-a079-677085c457c4\" style=\"\" rel=\"noopener\">according to Reuters<\/a>. The sukuk have no fixed maturity rate and can first be redeemed after five years, according to the bank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>Al Rajhi Bank hired our friends at HSBC, along with Al Rajhi Capital, Citigroup Global Markets, Dubai Islamic Bank, Emirates NBD Bank, Goldman Sachs International and Standard Chartered Bank as joint lead managers and bookrunners.<\/p>\n<p class=\"tag-border-left\">TECHNOLOGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Local tech company DataVolt signed an investment agreement <\/strong><strong>with the Uzbekistan <\/strong><strong>government under a plan to develop up to 500 MW of green data centers <\/strong>across the Central Asian country, it said <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7195370108112748545\/\" style=\"\" rel=\"noopener\">on Linkedin<\/a> yesterday. The announcement comes a week after it <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7195374086175236097\/\" style=\"\" rel=\"noopener\">broke ground<\/a> on what it says is the world\u2019s first data center to be operated on \u201cgreen energy\u201d at the IT Park Uzbekistan. The data center, valued at USD 150 mn, will have a total capacity of 10 MW.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Al Moammar Information Systems (MIS) signed two contracts to provide system <\/strong><strong>support <\/strong><strong>services to the Justice Ministry and the Saudi Electricity Company (SEC)<\/strong>, it said in two separate disclosures (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzcyMDAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5OTYz\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzcyMDAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzc5OTYw\/\" style=\"\" rel=\"noopener\">here<\/a>). MIS signed a SAR 81.2 mn contract with the Justice Ministry to support and upgrade IT systems used by the Justice Ministry. The second contract, valued at SAR 86.5 mn, sees the Tadawul-listed IT company providing network management and operation support services to SEC.<\/p>\n<p class=\"tag-border-left\">TOURISM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Almosafer to turn Aseer into \u201ctop-tier global tourist destination\u201d: <\/strong>Seera Group\u2019s Almosafer entered a strategic partnership with Aseer Development Authority (Asda) to turn the southern mountainous Aseer province into a leading tourist hub, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/743.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> yesterday. Under a new MoU, Asda will provide training and advisory services on the region to Almosafer front-line staff through the Almosafer Academy. The travel group will create package options to promote Aseer through its destination management subsidiary Discover Saudi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big plans for Aseer: <\/strong>Asda plans to turn Aseer into a world-class tourist destination while preserving the area\u2019s natural environment, <a target=\"_blank\" href=\"https:\/\/www.asda.gov.sa\/en\/strategy\/\" style=\"\" rel=\"noopener\">according to its website<\/a>. It eyes luring in 9.3 mn tourists by 2030.<\/p>\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cairo-listed Elsewedy Electric could earmark EGP 5 bn in capex in its 2024 budget as it <\/strong><strong>looks to complete ongoing investments in its pipeline including in the Gulf<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/749.pdf\" style=\"\" rel=\"noopener\">disclosure to the EGX (pdf)<\/a> yesterday. This includes Elsewedy\u2019s investments in the Kingdom, as the company looks to expand the production capacity of its factory here as part of its activities in the GCC, the statement read.<\/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>Riyadh-based steel and wire maker <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/aslak\/\" style=\"\" rel=\"noopener\">United Wire Factories (Aslak)<\/a><\/strong><strong> has extended an <\/strong><strong>MoU <\/strong><strong>for the potential acquisition of a stake in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/asiiggroup\" style=\"\" rel=\"noopener\">Al Raeda Industrial Investment<\/a><\/strong> foran additional period of 180 days, 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_xQVbWkQQ3WFUjI-IEgPOxgw6jiQwQ3CU-PeOutL46q7tubc3BQIJEEHPGacqk4Lmul8Td-P4LjZHHs6DYXOAi2Gnt-gPAgsnLYifAYxCRwPhzJ7iEgN0gfyjxw_l4289-YoE7VfgTcQ78CXDGAjPZfr4hy9S2-NAKrZnFavMU6XHB6XKY9dAA-u6NrmUPGfmVhYGvpMc5FFB8kzeuJvL3UTRHa1PuVYTvSqpuESXIpX6kGWjBRETUBarBLOwiD3lpC2_cQU8RLba\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTk3MS9jb21wYW55U3ltYm9sLzEzMDEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Upon fruition, the agreement \u2014 which was initially signed <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lZJBT4NAEIV_Sw8czcxC2AVva42UppUioLAXs7QESWAhZluDv14iJ6q0OreZvJc332RAQApCyVNVSl21StZDnwn6anOK5srBAFfxEilGHk1ih9z7FrxMBc7Woxg-8jAwmY3eM4L4lx-jnY3hw25rbfAJPaR_8-NM8av52eBn8wICEQgQeR_1Td7WkBELyTjhSrVHtS-aQulhPmwipmEBd9nAsr7z_A23HMrOBb8c62zdn9f4FlzCvQhs0ivAIR2B923TSTWlXoMo6zYfv-JN6-7WQAO1PMiPY20M0VKppdSQknmBf4CUUZcwiOQ7dE2SpJ9xkbt-5d_I3Omt-lQuFl_WZe-f\/dz\/d5\/L0lHSkovd0RNQUxrQUVnQSEhLzROVkUvZW4!\/\" style=\"\" rel=\"noopener\">in November of last year<\/a> \u2014 will see Aslak acquire an unspecified stake in the Jeddah-based polymers manufacturing company in a bid to diversify its income.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-akaria\/\">Al Akaria<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-raeda-industrial-investment\/\">Al Raeda Industrial Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/binyah\/\">Binyah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/china-machinery-engineering-cmec\/\">China Machinery Engineering (CMEC)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/data-centers\/\">data centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/datavolt\/\">DataVolt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diriyah-gate\/\">Diriyah Gate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-housing-company-nhc\/\">National Housing Company (NHC)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/united-wire-factories-aslak\/\">United Wire Factories (Aslak)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/urbas\/\">Urbas<\/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=\"86096\" 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=\"86096\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/13\/saudi-and-egyptian-assemblers-take-note-theres-opportunity-in-a-looming-global-ev-shakeout\/\">\r\n                            Saudi and Egyptian assemblers take note: There\u2019s opportunity in a looming global EV shakeout                        <\/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        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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/860.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"860.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/860.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/860.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86096\" class=\"content-area-description single-story post-86096 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.a604c830-299d-4c8d-97a4-6029e625b2b5.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Planet Finance feels more than a little China-obsessed this morning <\/strong>in the latest sign that post-covid economic policy is running headlong into the long-simmering \u201cnew Cold War\u201d between Beijing and some western capitals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Car assembly is among the first industries it could up-end<\/strong> as many governments \u2014 not all of them western \u2014 complain that Chinese manufacturers are dumping EVs on their markets at cut-rate prices. Here\u2019s what you need to know this morning:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Allegations that China unfairly subsidizes EVs continue to get plenty of attention<\/strong>, triggered by the USD 441 mn IPO this past Friday of EV maker Zeekr. The Geely unit saw its shares pop 34% in the biggest US debut for a Chinese company since 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zeekr went public as the Biden administration gets ready to slap tariffs of up to 100% on <\/strong><strong>Chinese EVs<\/strong>, prompting the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c738e26c-ce5b-409c-86b2-39336f893ddc\" style=\"\" rel=\"noopener\">Financial Times<\/a> to note that rising protectionism makes \u201cthe outlook for Chinese automakers in Europe and the US is highly uncertain.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That will likely see Chinese car makers push to set up shop in abroad<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/12\/with-evs-the-detroit-of-asia-wants-to-be-china-hedge-for-automakers.html\" style=\"\" rel=\"noopener\">CNBC<\/a> says that Thailand, which bills itself as the \u201cDetroit of the East,\u201d could benefit. Byd and rival Neta Auto could start producing in Indonesia soon, as we <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/62a04f24-fc77-41bf-a5c1-c24d88bc963b\" style=\"\" rel=\"noopener\">noted last week<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound like a familiar playbook? <\/strong>It\u2019s effectively what Japanese automakers did in the 1980s to smooth-over tensions with the US as imports threatened the American car industry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hey, Saudi and Egyptian assemblers \u2014 are you taking note?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Speaking of huge subsidies: A <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2024-05-12\/chip-technology-spending-gets-81-billion-boost-in-china-rivalry?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">\u201cUSD 81 bn subsidy surge\u201d<\/a><\/strong><strong>&nbsp;is fuelling the global <\/strong><strong>battle for chipmaking supremacy<\/strong> between China and the West, Bloomberg writes in a deep dive this morning. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Fast-fashion retailer Shein is looking at a possible London IPO <\/strong>after it was rebuffed by the United States, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/shein-steps-up-london-ipo-preparations-amid-us-hurdles-listing-sources-say-2024-05-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports.<\/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>Major Asian benchmarks have started the trading week in the red. <\/strong>It\u2019s anybody\u2019s guess what\u2019s driving sentiment this morning \u2014 the Monday blues? Earnings season ennui? \u2014 but <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/13\/asia-markets.html\" style=\"\" rel=\"noopener\">CNBC<\/a> suggests it\u2019s because investors are \u201cassessing China\u2019s stronger-than-expected April inflation data.\u201d Whatever the sheep\u2019s entrails suggest\u2026 <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US and European stock futures are largely unchanged this morning<\/strong>, and <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/12\/stock-market-news-for-may-12-2024.html\" style=\"\" rel=\"noopener\">CNBC<\/a> thinks there\u2019s room for US equities in particular to extend last week\u2019s gains. \u201cEarnings estimates may have become too pessimistic leading into 1Q 2024 results, and widespread beat-and-raise throughout reporting season appears to have catalyzed a turnaround in sentiment,\u201d it quotes one analyst as saying.<\/p>\n<p><a target=\"_blank\" id=\"t.4609df773e0df0e58cdcd480daed1f650dff0a31\" 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\">12,217<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +2.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,530<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: -1.3%)<\/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>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\">27,195<\/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: +10.9%)<\/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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">25,156<\/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\">-3.3% (YTD: +1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,090<\/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: -5.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,173<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +2.8%)<\/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>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\">5,223<\/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: +9.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,434<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +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\">5,085<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +12.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 82.79<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.25<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.1%<\/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>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 2,375<\/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\">+1.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 61,207<\/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: +44.8%)<\/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 0.6% yesterday <\/strong>on turnover of SAR 5.3 bn. The index is up 2.1% 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> Sadafco (+10%), Chemical (+10%) and AlJouf (+9.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Thimar (-9.9%), Tanmiah (-9.9%) and Walaa (-9.9%).<\/p>\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong><strong> rose 0.4% yesterday <\/strong>on turnover of SAR 28.8 mn. The index is up 10.9% 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> NBM (+6.9%), Lana (+6.3%) and AlRashid Industrial (+5.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Alhasoob (-9.1%), Pro Medex (-5.7%) and Raoom (-5.4%)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86098\" 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\/13\/86098\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86098\" class=\"content-area-description single-story post-86098 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>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 style=\"font-weight:400;\">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, 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;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;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:\/\/aci.aero\/events\/aci-asia-pacific-aci-world-annual-general-assembly-conference-and-exhibition-waga\/\" style=\"\">WAGA 2024<\/a><\/span><span>, 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>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/optimism.enterprise.news\/\" style=\"\">The Optimism Forum<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/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:\/\/digitransformationsummit.com\/ksa\/\" style=\"\">Digital Transformation Summit<\/a><\/span><span>, Riyadh<\/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>10-12 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/globalaisummit\/status\/1789658478690078841\" style=\"\">Global AI Summit<\/a><\/span><span>, Riyadh.<\/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;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>18-19 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudimaritimecongress.com\/en\/home.html\" style=\"\">Saudi Maritime & Logistics Congress<\/a><\/span><span>, Dammam.<\/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;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>21-22 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/smartportstransformation.com\/\" style=\"\">Smart Ports & Logistics Transformation Summit<\/a><\/span><span>, Riyadh<\/span><span>.<\/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;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>18-20 November (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theheatshow.com\/beta\/\" style=\"\">The Heavy Equipment and Truck Show<\/a><\/span><span>, Damma<\/span><span style=\"font-weight:400;\">m.<\/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>Big aviation news coming next week | Neom is recruiting | New real estate regulations | Film Commission to regulate movie industry<\/p>\n","protected":false},"featured_media":86074,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-86073","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3fdf8e8d-fff2-4d33-9b4f-e6db2c383dec","teaser":"Big aviation news coming next week | Neom is recruiting | New real estate regulations | Film Commission to regulate movie industry","photo_url":"https:\/\/ent.news\/2024\/5\/866.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>Rasan looks to raise as much as SAR 841 mn in Tadawul debut - 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\/rasan-looks-to-raise-as-much-as-sar-841-mn-in-tadawul-debut\/\" \/>\n<meta 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