{"id":86118,"date":"2024-05-14T00:00:00","date_gmt":"2024-05-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=86118"},"modified":"2025-12-14T18:05:43","modified_gmt":"2025-12-14T18:05:43","slug":"of-brits-ai-scarjo-and-the-passing-of-time","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/of-brits-ai-scarjo-and-the-passing-of-time\/","title":{"rendered":"Of Brits, AI ScarJo, and the passing of time"},"content":{"rendered":"<section id=\"86120\" 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=\"86120\">\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\/14\/over-300-british-companies-will-are-in-riyadh-today-for-high-profile-business-and-investment-summit\/\">\r\n                            THIS MORNING: Over 300 British companies will start landing in Riyadh today                        <\/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\/14\/over-300-british-companies-will-are-in-riyadh-today-for-high-profile-business-and-investment-summit\/\" 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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Two themes run deep: Capital markets (we have another IPO) and technology (where the global obsession with AI looks set to get even more intense in the weeks ahead). <strong>But first:<\/strong><\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>As many as 450 execs from some 300 British companies will <\/strong><strong>descend upon Riyadh today and tomorrow<\/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 officials hope will result in expanded \u201ctrade, tourism, education, and cultural activity.\u201d Dowden is no stranger to 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>\u201cWe\u2019re opening up our markets to one another<\/strong>, so that investment, exports, tourism and collaboration flows in both directions,\u201d Dowden told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-13\/uk-seeks-stronger-saudi-ties-with-450-strong-business-delegation?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/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>Also getting attention this morning: Gigaprojects <\/strong>after yesterday\u2019s Saudi Gigaprojects 2024, hosted by Meed. Top execs from projects including The Line, Diriyah, and New Murabba were on hand to talk up a USD 880 bn pipeline. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big issue? Time. <\/strong>\u201cI think our biggest problem with these projects is time,\u201d said Oussama Kabbani, a top official at PIF-backed Roshn Real Estate. \u201cMake no mistake we made commitments to His Royal Highness that we will be a showcase of the 2030 Vision. The challenge now is how much we can achieve from our promise,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-13\/saudi-mega-projects-seek-partners-in-bid-to-hit-economic-goals\" style=\"\" rel=\"noopener\">Bloomberg<\/a> quotes him as saying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We saw this coming: <\/strong>We reported in December that officials had accepted that they may have to accept modest fiscal deficits as the price of pursuing growth. \u201c <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cb9e503d-90eb-4c7f-bd82-7d455ca6c784\/%253cmark%253ebudget%253c%2Fmark%253e%253cmark%253e-deficit%253c%2Fmark%253e-for-fy-2023-is-better-than-finmin-had-forecast\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cb9e503d-90eb-4c7f-bd82-7d455ca6c784\/%253cmark%253ebudget%253c%2Fmark%253e%253cmark%253e-deficit%253c%2Fmark%253e-for-fy-2023-is-better-than-finmin-had-forecast\" style=\"\" rel=\"noopener\">We intentionally decided to spend more<\/a> and cause the deficit. If you spend that money right, on productive assets, then it\u2019s money well spent,\u201d Finance Minister Mohamed Al Jadaan said at the time. He signaled the ministry would continue to run deficits to support the \u201cgovernment\u2019s strategic expansionary spending\u201d even as it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/63cece36-2173-462e-b416-e07d99393408\" style=\"\" rel=\"noopener\">paced out some components of select gigaprojects<\/a>. Some officials have taken to calling gigaprojects <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/90373716-a067-4b54-bad2-897195c8cd1f\/of-modular-gigaprojects-%25e2%2580%2594-and-a-30-year-timeline-to-rebuild-gaza\" style=\"\" rel=\"noopener\">modular<\/a> and Neom has gone on a drive to underscore to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d415e8f0-fa26-473b-acf6-0a2208bd6637\/\" style=\"\" rel=\"noopener\">contractors<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e8706c8f-4009-4953-8129-18c0cd862016\/\" style=\"\" rel=\"noopener\">bankers<\/a> that everything is on track.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>A delegation headed by <\/strong><strong>Transport Minister Saleh Al Jasser is in Finland to <\/strong><strong>discuss <\/strong><strong>localizing the smart <\/strong><strong>transport industry<\/strong> with Finnish officials, the Transport Ministry <a target=\"_blank\" href=\"https:\/\/twitter.com\/SaudiTransport\/status\/1790068078962671728\" style=\"\" rel=\"noopener\">said yesterday<\/a>. Al Jasser will meet Finnish Foreign Trade and Development Minister Ville Tavio, as well as the ministers of transport and communication, and economic affairs, along with some industry leaders, according to <a target=\"_blank\" href=\"https:\/\/um.fi\/press-releases\/-\/asset_publisher\/ued5t2wDmr1C\/content\/saudi-arabian-liikenneministeri-vierailee-suomessa\/35732\" style=\"\" rel=\"noopener\">a Finnish Foreign Ministry statement<\/a>. The trip wraps up today.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>There\u2019s a chance of rain in <strong>Riyadh <\/strong>with a daytime high of 38\u00b0C and a low of 29\u00b0C. <strong>Makkah<\/strong> is set for a clear sky with a high of 41\u00b0C while the low is expected at 29\u00b0C, while a windy weather is in the cards for <strong>Jeddah<\/strong> 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\"><strong>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>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\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- Car prices rose 15% over the last five years<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/05\/12\/article_2725601.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> quotes <a target=\"_blank\" href=\"https:\/\/www.hha.com.sa\/web\/en\/index.html\" style=\"\" rel=\"noopener\">Haji Husein<\/a><a target=\"_blank\" href=\"https:\/\/www.hha.com.sa\/web\/en\/index.html\" style=\"\" rel=\"noopener\">Alireze (HHH)<\/a> Managing Director Ali Reda as saying. HHH is the distributor of the Mazda, Man, and Aston Martin brands in the Kingdom. The surge in prices is a result of global inflation as well as higher shipping and ins. costs due to geopolitical tensions (think: the Houthis), Reda said. The market has also been impacted by the higher interest rate environment \u2014 which also impacted purchasing power and drove down demand, he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Some 93k cars were imported last year, a 39% y-o-y increase<\/strong>, the news outlet reports, citing data from the Zakat, Tax, and Customs Authority (Zatca).<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>The number of listed companies in Saudi reached 310 by the end of 2023<\/strong>, rising 50% since the pandemic, Capital Market Authority Chairman Mohammed Bin Abdullah Elkuwaiz said in a <a target=\"_blank\" href=\"https:\/\/www.globenewswire.com\/news-release\/2024\/05\/13\/2880150\/0\/en\/Elkuwaiz-Our-Goal-is-to-Create-a-Capital-Market-that-is-Liquid-Enough-to-Contribute-to-Financing-New-Sectors-of-Economic-Activity.html\" style=\"\" rel=\"noopener\">statement<\/a>. Speaking at a public session hosted by the Milken Institute last week, Elkuwaiz said the local capital market was now among the top 10 leading markets globally and had the 16th highest IPO proceeds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In his words:<\/strong> \u201cBeing open to the world and easing foreign investment in a way that shall achieve the Kingdom\u2019s objectives are among the enablers of creating a capital market that is liquid enough to contribute to financing new sectors of economic activity and sustainably increase the capacity of our markets via more international investors, increasing freefloat, and more liquidity,\u201d Elkuwaiz said.<\/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=\"wwtt5\"><\/a> <strong>#1- PIF-owned Saudi Entertainment Ventures (Seven) has been added to Qiddiya <\/strong><strong>Investment Company\u2019s portfolio<\/strong>, which is also owned by the sovereign wealth fund, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2102224\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. Seven\u2019s addition to QIC aims to \u201cachieve integration between the two company\u2019s activities in the [entertainment] sector.\u201d No further details were provided. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Qiddiya, a USD multi-bn development, aims to become the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cb413357-ff17-44df-891a-5daffda105c3\" style=\"\" rel=\"noopener\">world\u2019s largest<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cb413357-ff17-44df-891a-5daffda105c3\" style=\"\" rel=\"noopener\">entertainment hub<\/a>. The district will be home to the first Dragon Ball themed park as well as a multi-use stadium where Qiddiya plans to host major sports, cultural and entertainment events, including games at the 2034 Fifa World Cup. The destination will also be home to the world\u2019s first gaming and esports district. QIC\u2019s board <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6a76107c-cbf1-4df6-b792-b1bd0ddcac89\" style=\"\" rel=\"noopener\">recently approved<\/a> the launch of a new water theme park that is slated to be the first of its kind in Saudi and the largest in the region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Seven has some plans up its sleeve:<\/strong> It\u2019s investing over SAR 50 bn to build 21 entertainment destinations in 14 cities across the country, including Riyadh, Makkah, Taif, Dammam, Madinah, Yanbu and others. It <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/19b37fb9-9466-4fa8-8bef-f8cf9a76cdb4\" style=\"\" rel=\"noopener\">unveiled its first entertainment destination<\/a> in Abha\u2019s Aseer province in November last year.<\/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- Shareholders of Kingdom Holding Company (KHC), will vote on the group\u2019s <\/strong><strong>acquisition of an <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5a6c6a15-ba72-44f4-a940-b6b5d0b54aa5\" style=\"\" rel=\"noopener\">additional stake in Citigroup<\/a><\/strong> on Monday, 3 June, the Tadawul-listed company 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-oyMTIwkA_ODVPvyA3NMIgMyA3XNdREQBwaPd5\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDAxNy9jb21wYW55U3ltYm9sLzQyODAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The transaction will see Kingdom raise its stake in Citigroup to 2.2% through the acquisition of an additional stake worth SAR 1.7 bn (USD 450 mn) from its chairman, Prince Alwaleed bin Talal. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Alwaleed and Citigroup go way back: <\/strong>Alwaleed\u2019s ties with Citigroup date back to the early 1990s, when he poured in USD 590 mn to become the investment bank\u2019s largest shareholder at the time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KHC\u2019s ownership:<\/strong> Prince Alwaleed currently owns a 78.1% stake in the company, with 5% of its stock trading on Tadawul. The PIF <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/saudi-arabias-alwaleed-sell-1687-kingdom-holding-pif-15-bln-2022-05-22\/\" style=\"\" rel=\"noopener\">acquired a 17% stake<\/a> in KHC from Prince Alwaleed in 2022 in a USD 1.5 bn transaction.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3- Pakistan plans to have a number of \u201cmajor agreements\u201d ready for signing <\/strong>ahead of a Saudi delegation visit to Islamabad, Pakistan\u2019s Commerce Minister Jam Kamal Khan said at a press conference (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=PuW5cLaKXqE\" style=\"\" rel=\"noopener\">watch, runtime: 1:04<\/a>) yesterday. \u201cA higher delegation from Saudi Arabia will definitely come to Pakistan, so before that, we should make a final form of these things, so that in the final form of B2B (business-to-business), some major agreements are signed,\u201d he said. Khan did not disclose details on when the Saudi delegation will visit Pakistan or the specific agreements that could be signed during their visit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context- <\/strong>Pakistani officials said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/855db7b2-5a28-4a59-aed7-9c8edb873fc8\" style=\"\" rel=\"noopener\">earlier this week<\/a> that arrangements were being \u201cworked out\u201d for Crown Prince and Prime Minister Mohammed bin Salman\u2019s visit to Pakistan. Plans for the visit were first made public by Pakistan\u2019s Deputy Prime Minister and Foreign Minister Ishaq Dar last week after the conclusion of a visit by a delegation of senior Saudi officials to Pakistan during which they attended a two-day investment conference. There had been rumblings that the visit could take place as early as this month, but officials have yet to confirm a date.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A much anticipated visit for crisis-hit Pakistan: <\/strong>The visit could help bring Pakistan closer to a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/saudi-crown-prince-meets-pakistani-premier-stresses-india-pakistan-dialogue-2024-04-08\/\" style=\"\" rel=\"noopener\">USD 5 bn investment package<\/a> by Saudi that was discussed during a meeting between the Crown Prince and Pakistan\u2019s prime minister last month. Saudi has been among key supporters of Pakistan, <a target=\"_blank\" href=\"https:\/\/www.arabnews.pk\/node\/2417451\/pakistan\" style=\"\" rel=\"noopener\">extending the term<\/a> of a USD 3 bn in deposit at the State Bank of Pakistan for an additional year to mature in December 2024. This is in addition to USD 2 bn in financial assistance from the Kingdom <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/saudi-arabia-deposits-2-bln-pakistan-central-bank-account-pakistan-finance-2023-07-11\/\" style=\"\" rel=\"noopener\">last year<\/a> to shore up the country\u2019s finances.<\/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> 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>Want to subscribe? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> 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\"> PSA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REGULATION WATCH- <\/strong>The government will gradually roll out a decision to make it mandatory for employers to pay the monthly salaries of their domestic workers through the <a target=\"_blank\" href=\"https:\/\/tawtheeq.musaned.com.sa\/\" style=\"\" rel=\"noopener\">Musaned platform<\/a>, according to <a target=\"_blank\" href=\"https:\/\/www.hrsd.gov.sa\/ar\/media-center\/news\/130520241\" style=\"\" rel=\"noopener\">a statement<\/a> from the Human Resources and Social Development Ministry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new system will be applied to all new contracts starting Monday, 1 July 2024<\/strong>, while it will be rolled out gradually to existing contracts between 1 January and 1 October, 2025. It\u2019s expected that by 1 January, 2026, everyone will be part of the new system. Musaned has been available to be used on a voluntary basis since 1 April, 2022.<\/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 really, really tech-heavy morning in the business press: <\/strong>Reviews are out for the <strong>iPad <\/strong><strong>Air and iPad Pro<\/strong> models that Apple announced last week, <strong>ChatGPT<\/strong> maker OpenAI released a voice-assistant-like product that will chat with you in the (unauthorized, dystopian) <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2024\/5\/13\/24155652\/chatgpt-voice-mode-gpt4o-upgrades\" style=\"\" rel=\"noopener\">voice of Scarlett Johansson in Her<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meet Her: <\/strong>OpenAI is actually calling it Chat-GPT4o (the letter \u2018o\u2019 at the end, not a zero) and it lit our X and Threads on fire for sounding exactly like Johansson in a movie in which a character falls in love with an AI voice assistant. You can chat with GPT4o using your voice \u2014 and it can turn on your device\u2019s camera to have a look around if it\u2019s relevant to your \u2018conversation.\u2019 And unlike the current incarnation of Siri, it appears pretty seamless. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You can try it now for yourself: <\/strong><strong><a target=\"_blank\" href=\"https:\/\/openai.com\/index\/hello-gpt-4o\/\" style=\"\" rel=\"noopener\">Head here to learn more or listen to a demo<\/a><\/strong><strong>.<\/strong> If you already have a subscription to ChatGPT and have it running in a browser, do a hard refresh and then hit the dropdown menu on the top left to choose ChatGPT-4o.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story is everywhere: <\/strong><a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2024\/5\/13\/24155493\/openai-gpt-4o-launching-free-for-all-chatgpt-users\" style=\"\" rel=\"noopener\">The Verge<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/90a1fa9e-8c59-4563-b528-1039851ba5ba\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/ai\/openai-voice-assistant-chatgpt-app-376ef6a2?mod=hp_lead_pos11\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/openai-announce-chatgpt-product-improvements-monday-2024-05-13\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/13\/openai-launches-new-ai-model-and-desktop-version-of-chatgpt.html\" style=\"\" rel=\"noopener\">CNBC<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You can already feel the ennui <\/strong>in this CNBC headline: <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/13\/ai-skill-you-must-learn-to-stay-competitive-in-the-jobs-market.html\" style=\"\" rel=\"noopener\">AI may not replace you, but someone who uses it can \u2014 here\u2019s the No. 1 skill you need to stay relevant<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UP NEXT- the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/io.google\/2024\/\" style=\"\" rel=\"noopener\">Google I\/O<\/a><\/strong><strong> developer conference starts this morning.<\/strong> The Mountain View company is expected to announce (you guessed it) a new AI-powered voice assistant and a bunch of other Android goodies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Consider it the prelude to a few very tech-heavy weeks: <\/strong>Microsoft\u2019s <a target=\"_blank\" href=\"https:\/\/build.microsoft.com\/en-US\/home\" style=\"\" rel=\"noopener\">Build conference<\/a> runs next week (21-23 May) and could see Redmond announce an AI-powered search app based on ChatGPT. All eyes then turn to Cupertino for <a target=\"_blank\" href=\"https:\/\/developer.apple.com\/wwdc24\/\" style=\"\" rel=\"noopener\">Apple\u2019s WWDC<\/a>, at which the tech giant will unveil new versions of its various operating systems with plenty of AI baked in. Pundits will be watching to see how much of the AI goop Apple layers onto its OSes is homegrown and how much is licensed from ChatGPT or Google \u2014 it\u2019s in talks with both. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO IN AI- A UAE research institute has rolled out a new, open-source GenAI model <\/strong><strong>named Falcon 2<\/strong>, it <a target=\"_blank\" href=\"https:\/\/www.tii.ae\/news\/falcon-2-uaes-technology-innovation-institute-releases-new-ai-model-series-outperforming-metas\" style=\"\" rel=\"noopener\">said in a statement<\/a> yesterday. The institute says the model outperforms both Llama 3 from Meta as well as Google\u2019s Gemma, which underpins the Gemini products. \u201cWe were able to achieve way higher performance than a lot of the bigger guys, and at a fraction of their compute and a fraction of their team size,\u201d a top UAE tech official told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-13\/uae-releases-new-falcon-ai-model-11b-to-rival-meta-s-llama-openai-and-google\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REVIEWS- So, should you buy a new iPad? <\/strong>Will the device be transformed in a few weeks\u2019 time by the unveiling of a new iPadOS that makes it as Mac-like as the new keyboard case now on sale for the Pro model? In search of answers, we bring you:<\/p>\n<ul>\n<li><a target=\"_blank\" href=\"https:\/\/www.theverge.com\/24155440\/apple-ipad-pro-2024-review\" style=\"\" rel=\"noopener\">Apple iPad Pro (2024) review: the best kind of overkill<\/a>. (The Verge)<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/www.theverge.com\/24155407\/apple-ipad-air-review-2024\" style=\"\" rel=\"noopener\">The new Apple iPad Air is great \u2014 but it\u2019s not the one to get<\/a>. (The Verge)<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/personal-tech\/ipad-pro-vs-macbook-the-great-apple-laptop-tradeoff-3304323d?mod=hp_lead_pos10\" style=\"\" rel=\"noopener\">iPad Pro vs. MacBook: The great Apple laptop trade-off<\/a>. (WSJ)<\/li>\n<\/ul>\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>CLOSER TO HOME- <\/strong>Israeli troops have been <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-forces-step-up-attacks-jabalia-camp-rafah-gaza-2024-05-13\/\" style=\"\" rel=\"noopener\">let loose in both the north and south of Gaza<\/a> and Israel has proposed that <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/05\/13\/israel-palestinian-authority-rafah-crossing\" style=\"\" rel=\"noopener\">the Palestinian Authority should run the Rafah border crossing<\/a>, which Israeli troops took over last week.<\/p>\n<p class=\"tag-border-left\">JOIN US IN CAIRO? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s top executives and business owners will gather in Cairo on Wednesday, 5 June <\/strong>for the Enterprise Optimism Forum.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the menu: <\/strong>Blunt talk about a future that sees Saudi Arabia, Egypt, and the the UAE at the heart of a more vital Middle East economy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The goal: <\/strong>To provide an early, actionable roadmap for those who are \u201clong Egypt.\u201d<\/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:\/\/forum.enterprise.news\/\" style=\"\" rel=\"noopener\">** Interested in attending? Tap or click here to let us know. **<\/a><\/strong> Seating is limited and available on an invitation-only basis. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/forum.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/227.jpg?ssl=1\"><\/a><\/p>\n\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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/gigaprojects\/\">Gigaprojects<\/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-uk-relations\/\">Saudi-UK relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/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=\"86122\" 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=\"86122\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/pif-readies-medical-procurement-outfit-nupco-for-tadawul-debut\/\">\r\n                            Saudi\u2019s Nupco is shopping for bankers ahead of its IPO on the Tadawul                        <\/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\/14\/pif-readies-medical-procurement-outfit-nupco-for-tadawul-debut\/\" 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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Co as financial advisor for its potential Tadawul IPO,&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-13\/saudi-wealth-fund-said-to-invite-bank-pitches-for-nupco-ipo\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources it says are familiar with the matter. The medical procurement company has reportedly opened the door for banks to \u201cpitch for roles\u201d in its upcoming debut, the business information service says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know so far:<\/strong> The offering could raise less than USD 1 bn in proceeds, the sources added without providing further details on the scale or timeline of the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Word that Nupco might be headed for an IPO first surfaced back <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-23\/pif-backed-medical-procurement-firm-nupco-said-to-plan-saudi-ipo\" style=\"\" rel=\"noopener\">in October 2023<\/a> as part of the PIF\u2019s strategy to unlock fresh sources of capital to finance the government\u2019s economic diversification projects. Pieces of PIF\u2019s portfolio companies may soon be up for grabs as part of the fund\u2019s plan. This could include anything from Saudi Telecom (Stc) to Maaden and Tadawul Group, with Saudi Global Ports also said to be a candidate to list before the year is done.<\/p>\n<p class=\"tag-border-left\">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>Fintech startup <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/acdb8d91-d4b7-48d8-ac15-7edee6e26513\" style=\"\" rel=\"noopener\">Rasan<\/a> is set to sell a 30% stake, with subscription now open to institutional investors; <\/li>\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> 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> 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> 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> 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>;<\/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> 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> 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> 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> 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> looks set to spin-off its GCC assets and seek a dual listing on Tadawul and in the UAE.<\/li>\n<\/ul>\n<p class=\"tag-border-left\">IN OTHER IPO NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Y<\/strong><strong>aqeen Capital has extended the subscription period for its IPO on parallel market Nomu&nbsp;<\/strong><strong>until<\/strong><strong> Thursday, 23 May<\/strong>, from the initial deadline this past Sunday, 12 May, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/905.pdf\" style=\"\" rel=\"noopener\">a supplementary prospectus (pdf)<\/a>. The final shares allocation is slated for Tuesday, 28 May and refunds are scheduled for Monday, 3 June.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86124\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15542.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86125\" 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=\"86125\">\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\">TECHNOLOGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/saudi-others-are-falling-behind-on-overall-cybersecurity-readiness-cisco-report-shows\/\">\r\n                            Only 1% of local businesses are at an advanced stage for overall cybersecurity readiness, says Cisco                        <\/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\/14\/saudi-others-are-falling-behind-on-overall-cybersecurity-readiness-cisco-report-shows\/\" 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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This compares with a declining global average of 3% from 15% last year in terms of the most advanced state for overall readiness as Cisco sheds light on the declining state of overall cybersecurity readiness globally in comparison with 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dive deep:<\/strong> 27% of local firms are at the \u201cprogressive\u201d stage for overall cybersecurity readiness while 69% are at the \u201cformative stage\u201d and 3% are beginners, according to the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The report assesses cybersecurity readiness across five pillars<\/strong>, which include identity intelligence, machine trustworthiness, network resilience, cloud reinforcement, and AI fortification. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Most of the local firms surveyed by Cisco \u201care in the early stages\u201d of identity intelligence&nbsp;<\/strong><strong>readiness <\/strong>with 58% in the formative stage and 27% in the beginner stage. Only 2% of companies fall under the mature category, with Cisco describing the figures as \u201cworrying given the clear threat presented by identity management.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The majority of local companies are also at the most basic levels of readiness in terms&nbsp;<\/strong><strong>of network resilience<\/strong>, with 56% at the formative stage and 10% at the beginners stage. Only 3% are at the mature stage, with 31% at the progressive stage. Cloud reinforcement (think improved cloud security) show Saudi businesses lagging begin, with the majority at the most basic levels of readiness. Only 3% of firms are at the mature stage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi businesses are doing better in one pillar than everyone else:<\/strong> Some 68% of local businesses surveyed are working ot understand what AI means to them in comparison to the global average of 46%, according to Cisco. Another 27% are in the formative stage, while 1% are at the beginners phase, and 4% of businesses are at the mature stage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The PIF, meanwhile, is ahead of the game<\/strong><strong>:<\/strong> The PIF\u2019s Saudi Information Technology (Site) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3536b78d-6bca-46f4-ab63-2f298ecbdf80\" style=\"\" rel=\"noopener\">signed an agreement<\/a> last month with South Korean IT solutions provider AhnLab to establish a cybersecurity joint venture. They\u2019re looking to market cybersecurity solutions to government agencies and the private sector in Saudi and across the region and into North Africa. A wholly owned unit of Site is set to acquire a stake in the Seoul-based firm through a KRW 74.4 bn (c. USD 55.3 mn) capital injection on 27 June. Cyberani, a subsidiary of Aramco, <a target=\"_blank\" href=\"https:\/\/www.thalesgroup.com\/en\/worldwide\/security\/press_release\/cyberani-and-thales-enter-strategic-alliance-strengthen-kingdoms\" style=\"\" rel=\"noopener\">recently partnered<\/a> with French defense electronics provider Thales to bolster local digital infrastructure for cybersecurity.<\/p>\n\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\/artificial-intelligence\/\">artificial intelligence<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cisco\/\">Cisco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cybersecurity-readiness-index-report\/\">Cybersecurity Readiness Index report<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86127\" 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=\"86127\">\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\">TECHNOLOGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/a-look-at-saudi-domains-last-year\/\">\r\n                            An overview of Saudi domains in 2023                        <\/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\/14\/a-look-at-saudi-domains-last-year\/\" 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\/14\/a-look-at-saudi-domains-last-year\/')\">\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\/14\/a-look-at-saudi-domains-last-year\/\">\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=A look at Saudi domains last year&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/a-look-at-saudi-domains-last-year\/\">\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\/14\/a-look-at-saudi-domains-last-year\/&title=A look at Saudi domains last year\">\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=A+look+at+Saudi+domains+last+year+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F14%2Fa-look-at-saudi-domains-last-year%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/a-look-at-saudi-domains-last-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/954.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86128\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/a-look-at-saudi-domains-last-year\/954-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/954.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"954.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/954.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/954.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86127\" class=\"content-area-description single-story post-86127 post type-post status-publish format-standard has-post-thumbnail hentry category-technology tag-domains tag-enterpriseam-ksa tag-registry tag-space-and-technology-commission-cst tag-technology tag-the-communications 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\/.286161ec-2978-4eac-a05c-f4033e965f87.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More than 17k new domains were registered in Saudi in 2023<\/strong>, rising 40%y-o-y, the Communications, Space and Technology Commission (CST) said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/888.pdf\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/888.pdf\" style=\"\" rel=\"noopener\">Saudi Domain Report 2024 (pdf)<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/888.pdf\" style=\"\" rel=\"noopener\"><\/a>. The rate of growth in new domain registrations tripled last year compared to 2022, the report showed. The private sector accounted for 89% of registered new domain names, followed by the public sector with 9%, and individuals at 2%, the report showed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The monthly transaction rate on the CST\u2019s registry system rose by 75% y-o-y last year<\/strong>, according to the report, with the monthly rate for inquiries on domain registration growing 87% y-o-y. The domains are supported by 150 distributed servers globally, including eight local servers across Riyadh, Jeddah and Dammam.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amazon.sa and Google.com.sa were among the most visited domains at home<\/strong>, according to the report. Government websites such as the Interior Ministry\u2019s Absher, the Kingdom\u2019s official digital identity application Nafath, education platform Madrasti among others. AlRajhi Bank\u2019s website, e-commerce platform Salla and buy and sell platform Haraj were also among the most visited domains.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How the <\/strong><strong>CST<\/strong><strong> transformed domain registrations: <\/strong>The report looked at the CST\u2019s work to remodel domain registration in Saudi to the registry-registrar model, which follows international practices in the industry. Domain registrations are now made through licensed registrars by the CST instead of direct registration through the governmental communications authority\u2019s platform in a bid to boost the private sector\u2019s role in the sector, according to the report. Registrants were given a transition period that allowed them to transfer the management of their domains to licensed registrars, without disrupting any of their services, it added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- What\u2019s a registry-registrar model?<\/strong> In this model, accredited registrars <a target=\"_blank\" href=\"https:\/\/nic.sa\/en\/registrars\/\" style=\"\" rel=\"noopener\">manage the<\/a><a target=\"_blank\" href=\"https:\/\/nic.sa\/en\/registrars\/\" style=\"\" rel=\"noopener\">main database of domain names<\/a> registered in the top-level domains (TLD) and other add-on services including hosting, email, and others. They then provide them to registrants who can manage everything related to domains through a one-step platform. Some of registrars accredited by the CST include dnet, Hawsabah, Sahara Net, NourNet solutions by stc, and T2.sa.<\/p>\n\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\/domains\/\">domains<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/registry\/\">registry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/space-and-technology-commission-cst\/\">Space and Technology Commission (CST)<\/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\/the-communications\/\">The Communications<\/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=\"86129\" 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=\"86129\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/maadens-net-income-more-than-doubles-in-1q-2024\/\">\r\n                            Ma\u2019aden\u2019s net income more than doubles in 1Q 2024 due to higher sales                        <\/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\/14\/maadens-net-income-more-than-doubles-in-1q-2024\/\" 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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Revenues were down 8.7% y-o-y during the quarter to SAR 7.4 bn due to lower commodity prices except for gold and alumina.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It was a busy quarter for Ma\u2019aden:<\/strong> Some of Ma\u2019aden\u2019s key highlights during the quarter were the start of full operations at the Kingdom\u2019s largest gold mine, Mansourah Massarah, with an annual production capacity of 250k ounces of gold. The company also focused on drilling for new gold finds in Uruq south of its gold mine. It <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/projects\/industry\/maaden-and-glasspoint-announce-phase-1-of-the-worlds-largest-industrial-solar-thermal-project-in-saudi-arabia-nrkq3iin\" style=\"\" rel=\"noopener\">also unveiled<\/a> with California-based solar startup GlassPoint building the world\u2019s largest industrial solar thermal project in Ras Al Kheir to decarbonize the company\u2019s aluminum supply chain. The first phase of the project could supply nine tons of steam per hour.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And since then: <\/strong>Manara Minerals \u2014 a JV between Ma\u2019aden and the PIF \u2014 completed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1e626509-bb2c-4938-9947-ab2106259b40\" style=\"\" rel=\"noopener\">earlier<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1e626509-bb2c-4938-9947-ab2106259b40\" style=\"\" rel=\"noopener\">this month<\/a> the acquisition of a 10% stake in Brazilian miner Vale Base Metals. Manara is 51% owned by Ma\u2019aden, and 49% owned by PIF. The transaction is worth an estimated USD 2.6 bn, based on a USD 26 bn enterprise value the Brazilian mining giant had previously disclosed. Ma\u2019aden also completed a SAR 5.6 bn transaction <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3ec899bd-7a3f-439f-87c0-8dacf57de897\" style=\"\" rel=\"noopener\">earlier in May<\/a> which saw it up its stake in Ma\u2019aden Wa\u2019ad Al Shamal Phosphate \u2014 its JV with the Mosaic Company and Sabic \u2014 to 85% after it purchased Mosaic\u2019s entire 25% stake.<\/p>\n<p class=\"tag-border-left\">ADES HOLDING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ades Holding\u2019s net income rose 124.6% to SAR 200.8 mn in <\/strong><strong>1Q 2024<\/strong>, and its revenues rose 60.5% y-o-y to SAR 1.5 bn, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/876.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. \u201cNew awards were broadly secured at higher daily rates compared to Ades\u2019 current offshore average daily rates, translating into a favorable impact on overall profitability,\u201d CEO Mohamed Farouk said. The Egypt-born company had a total backlog of SAR 26.8 bn as of 31 March 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Business is concentrated in the Saudi segment:<\/strong> The oil and gas giant attributed growth in its top line to booking more business in the Kingdom, fueled by the deployment of 19 rigs as part of a large tender. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New business abroad:<\/strong> Growth was also supported by a 3x increase in operational rigs in Kuwait to a total of 10, along with a new rig going live in India, and another in Algeria. The quarter also marked the company\u2019s entry into its ninth market of operation \u2014 Thailand \u2014 with an 18-month contract.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rig suspensions are well cushioned:<\/strong> \u201cWe were largely successful in mitigating the impact of the <a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/0804d732-5219-49e2-90ad-936ba0af84ec\/ades-+-arabian-drilling-to-suspend-several-offshore-rigs-here\" style=\"\" rel=\"noopener\">temporary suspensions in Saudi Arabia<\/a>,\u201d Farouk added, saying that suspended contracts will be extended to compensate for the suspension period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Partially offsetting the suspensions: <\/strong>The Tadawul-listed company\u2019s total number of operating rigs rose 47% y-o-y to 75 in 1Q 2024, on the back of new deployments in Egypt, Qatar, and Thailand, reducing the number of total suspended rigs to only two, down from five. <\/p>\n<p class=\"tag-border-left\">ABDULLAH AL OTHAIM MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Grocery chain owner<\/strong><strong> Abdullah Al Othaim\u2019s net income declined 3% y-o-y to SAR <\/strong><strong>116.4 <\/strong><strong>mn in <\/strong><strong>1Q 2024<\/strong> on the back of higher costs from new store openings and the drop on performance of subsidiaries among other factors, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2v3bys4p\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Meanwhile, revenues grew 9% y-o-y over the same period to SAR 3 bn due to higher sales from existing and new stories. The board approved disbursing SAR 135 mn in dividends for the period at SAR 0.15 per share, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMTAwFA_ODVPvyA3NMIgMyA3XNdREQCYtcpV\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDAwMS9jb21wYW55U3ltYm9sLzQwMDEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">separate disclosure<\/a>. Payment is due on Wednesday, 12 June.<\/p>\n\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\/maaden\/\">Ma\u2019aden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86131\" 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=\"86131\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/playing-the-long-game-with-saudis-pro-league\/\">\r\n                            Playing the long game with Saudi\u2019s Pro League                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/967.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86132\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/playing-the-long-game-with-saudis-pro-league\/967-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/967.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"967.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/967.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/967.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86131\" class=\"content-area-description single-story post-86131 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-enterpriseam-ksa tag-saudi-in-the-news tag-sports wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.7820cc9f-8821-4ed4-8932-d6666c0e8ac4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a relatively quiet morning for Saudi in the foreign press, with no single story<\/strong><strong> leading the conversation.&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20240513-saudi-arabia-s-billion-dollar-football-league-a-work-in-progress\" style=\"\" rel=\"noopener\">AFP<\/a> has commentary on Saudi\u2019s \u201cUSD bn football league,\u201d saying that investments in the Saudi Pro League will take some time to bear fruit and reach its goal of \u201cbecoming one of the world's top five domestic competitions.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong>Saudi also got a mention as a benchmark for a newly proposed US mega-city, with the <a target=\"_blank\" href=\"https:\/\/www.the-express.com\/news\/us-news\/137332\/new-320bn-mega-city-united-states-telosa-nevada-arizona-utah\" style=\"\" rel=\"noopener\">Express<\/a> likening the USD 400 bn project \u2014 to be built in the middle of the desert \u2014 to Neom\u2019s The Line.<\/p>\n\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\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86133\" 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=\"86133\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/sipchem-inks-refinancing-agreement-with-bsf-alrajhi-plus-trade-pharma-and-infrastructure\/\">\r\n                            Sipchem inks refinancing agreement with BSF, AlRajhi. Plus: trade, pharmaceuticals and infrastructure                        <\/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\/14\/sipchem-inks-refinancing-agreement-with-bsf-alrajhi-plus-trade-pharma-and-infrastructure\/\" 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\/14\/sipchem-inks-refinancing-agreement-with-bsf-alrajhi-plus-trade-pharma-and-infrastructure\/')\">\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\/14\/sipchem-inks-refinancing-agreement-with-bsf-alrajhi-plus-trade-pharma-and-infrastructure\/\">\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=Sipchem inks refinancing agreement with BSF, AlRajhi. Plus: trade, pharma and infrastructure&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/sipchem-inks-refinancing-agreement-with-bsf-alrajhi-plus-trade-pharma-and-infrastructure\/\">\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\/14\/sipchem-inks-refinancing-agreement-with-bsf-alrajhi-plus-trade-pharma-and-infrastructure\/&title=Sipchem inks refinancing agreement with BSF, AlRajhi. Plus: trade, pharma and infrastructure\">\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=Sipchem+inks+refinancing+agreement+with+BSF%2C+AlRajhi.+Plus%3A+trade%2C+pharma+and+infrastructure+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F14%2Fsipchem-inks-refinancing-agreement-with-bsf-alrajhi-plus-trade-pharma-and-infrastructure%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\/14\/sipchem-inks-refinancing-agreement-with-bsf-alrajhi-plus-trade-pharma-and-infrastructure\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/282.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86134\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/sipchem-inks-refinancing-agreement-with-bsf-alrajhi-plus-trade-pharma-and-infrastructure\/282-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/282.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"282.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/282.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/282.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86133\" class=\"content-area-description single-story post-86133 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-akasa-air tag-alrajhi-bank tag-also-on-our-radar tag-banque-saudi-fransi tag-enterpriseam-ksa tag-jamjoom-pharma tag-national-water-company tag-sahara-and-maaden-petrochemicals-co-samapco tag-sahara-international-petrochemical-company-sipchem tag-saudi-exim 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\/.cb887157-83ad-4695-b196-789b46ee9399.mp3\"><\/audio><\/figure><p class=\"tag-border-left\"> DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sipchem affiliate renews syndicated bank facility with BSF, AlRajhi: <\/strong>Sahara and Ma\u2019aden Petrochemicals Co (Samapco) \u2014 an affiliate of chemicals producer Sahara International Petrochemical Company (Sipchem) \u2014 signed a refinancing agreement for an existing syndicated bank facility amounting to SAR 1.5 bn with Banque Saudi Fransi (BSF) and AlRajhi Bank, Sipchem said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83Z29TAwC_Rx9DSxdLY0MDAz1w_Wj9KOQlRgEB5gaBLoF-Br7GAQZuBuYQRUY4ACOBvoF2dmBAERHA9g!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFSklLSUtVUW9ncFJJa0EhIS9ZUFVFQUFBSUlFTUVDS0lFQUdJR09JT0lCSkZKRkJKTkROREJORUxMSEhQSFBMSEFnb2dvckFzQ0FBISEvNEpDaWpLMWJHTGppRUVwTWhUVlVrNUNpbXBwektETmJ0WmJPYW5tdDJzdGd0U0txb3lRIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9lbi9jb21wYW55U3ltYm9sLzIzMTAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMDA0\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. This brings the total financing amount provided by the two banks after a disbursed SAR 724.6 mn to SAR 2.3 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The agreements also include a revolving Islamic murabaha facility totaling SAR 200 mn <\/strong><strong>with each bank<\/strong>, according to the disclosure. Sipchem said the new banking facilities would help lower finance costs due to their \u201cmore favorable commercial terms and competitive pricing.\u201d<\/p>\n<p class=\"tag-border-left\"> TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Boosting non-oil exports:<\/strong> Saudi Export-Import Bank (Saudi Exim Bank) signed an ins. agreement and a murabaha agreement with the Saudi National Bank to fund the export of non-oil products, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2101609\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported. The agreements are designed to promote growth of Saudi\u2019s non-oil exports by improving documentary credits and providing ins. and financing solutions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Saudi Exim <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6c9fa888-91d8-4d66-b39b-aa812e00dd59\" style=\"\" rel=\"noopener\">signed last month<\/a> a number of reins. treaties with global reins. firms led by the world's second biggest reins. company Swiss Re. The agreements aim to expand ins. coverage to help drive growth of local exporters in overseas markets.<\/p>\n<p class=\"tag-border-left\"> PHARMA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jamjoom Pharma expects production to rise in the coming quarters <\/strong>as its new sterile factory in Jeddah starts commercial operations and its facility in Egypt sees increased output, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1726991\" style=\"\" rel=\"noopener\">Argaam<\/a> quotes CEO Tarek Hosni as saying. The Tadawul-listed pharma producer increased its presence in key markets in the GCC and the region during the first quarter of the year, including Saudi, Egypt and Iraq, Hosni said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Jamjoom Pharma\u2019s net income <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d2ae0486-c3bd-4fe6-a9a3-b0b9d55666b3\" style=\"\" rel=\"noopener\">grew 22% y-o-y<\/a> to SAR 103 mn in 1Q 2024 onthe back of sales growth despite the impact of the EGP devaluation. Its revenues were up 28.1% over the same period to SAR 385.5 mn in the same period on the back of higher sales volume across its key markets and the launch of new brands. Revenues from its KSA business rose 24.9% y-o-y.<\/p>\n<p class=\"tag-border-left\"> INFRASTRUCTURE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>National Water Company<\/strong><strong> kicks off SAR 500 mn water projects in Madinah: <\/strong>The National Water Company (NWC) began implementing nine drinking water and sewage network projects in Madinah at an estimated cost of SAR 500 mn, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2101673\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. The announcement <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6a9aab53-0c95-4db8-be7f-3bbc38a55e4a\" style=\"\" rel=\"noopener\">comes days<\/a> after the NWC started work on 12 water projects worth SAR 1.5 bn in the Eastern Province. The NWC is wholly owned by the PIF.<\/p>\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Indian budget carrier <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.akasaair.com\/\" style=\"\" rel=\"noopener\">Akasa Air<\/a><\/strong><strong> has added Saudi as its second international destination <\/strong><strong>on its network<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/AkasaAir\/status\/1789987366037283232\" style=\"\" rel=\"noopener\">post on X<\/a>. The airline said it will launch two direct routes from Mumbai and Ahmedabad to Jeddah starting July. Akasa Air will fly to Jeddah from Mumbai starting Monday, 15 July while flights from Ahmedabad will start on Sunday, 20 July. The airline added Doha as its first international destination <a target=\"_blank\" href=\"https:\/\/twitter.com\/AkasaAir\/status\/1773357629827326221\" style=\"\" rel=\"noopener\">earlier this year<\/a>.<\/p>\n<p class=\"tag-border-left\">FINTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh Capital has set up a new fund to support the local fintech sector<\/strong>, it said <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/riyad-capital_riyadcapital-fintech-activity-7195735576266878977-C-FI?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">on<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/riyad-capital_riyadcapital-fintech-activity-7195735576266878977-C-FI?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">LinkedIn<\/a>. The 1957 Ventures fund will be backed by Riyad Bank, with the purpose of spurring new fintech business models, directly supporting the sector and promoting competition, the statement read without providing further information.<\/p>\n\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\/akasa-air\/\">Akasa Air<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alrajhi-bank\/\">AlRajhi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/banque-saudi-fransi\/\">Banque Saudi Fransi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/jamjoom-pharma\/\">Jamjoom Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-water-company\/\">National Water Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sahara-and-maaden-petrochemicals-co-samapco\/\">Sahara and Ma\u2019aden Petrochemicals Co (Samapco)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sahara-international-petrochemical-company-sipchem\/\">Sahara International Petrochemical Company (SIPCHEM)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-exim\/\">Saudi Exim<\/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=\"86135\" 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=\"86135\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/roaring-kitty-is-back\/\">\r\n                            Memelord Roaring Kitty is back \u2014 and GameStop shorts are feeling the pinch                        <\/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\/14\/roaring-kitty-is-back\/\" 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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(See this morning\u2019s Big Story Abroad, above.) Meanwhile:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not Groundhog Day, and you\u2019ve not stumbled into a real-world Hot Tub Time <\/strong><strong>Machine: GameStop really is back in the headlines. <\/strong>Short-selling hedge funds lost USD 1 bn yesterday after Roaring Kitty re-entered the chat: The meme lord <a target=\"_blank\" href=\"https:\/\/x.com\/TheRoaringKitty\/status\/1789807772542067105\" style=\"\" rel=\"noopener\">posted on X yesterday<\/a> for the first time since 2021, triggering a frenzy that saw GameStop shares soar 74% and put the squeeze on the shorts. <strong>Kitty\u2019s memes have <\/strong><strong><a target=\"_blank\" href=\"https:\/\/x.com\/TheRoaringKitty\/status\/1790170162265460831\" style=\"\" rel=\"noopener\">flown fast and furious<\/a><\/strong><strong> in the hours since.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Does it have legs? <\/strong>Bloomberg\u2019s <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2024-05-13\/gamestop-is-back?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">amazing Money Stuff columnist Matt Levine<\/a> is back on the trail and even the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-today-dow-jones-05-13-2024\/card\/gamestop-stock-jumps-in-premarket-trading-jqab95Dbm1aoGiyExvAt?mod=hp_lead_pos4\" style=\"\" rel=\"noopener\">WSJ<\/a> is taking note. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND, for those of you who may have forgotten (or were otherwise blissfully <\/strong><strong>unaware<\/strong> of what a \u201cmeme stock\u201d is), courtesy <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/13\/gamestop-short-sellers-have-already-lost-1-billion-from-mondays-monster-rally.html\" style=\"\" rel=\"noopener\">CNBC<\/a>: The 2021 \u201cmeme stock frenzy involved individual investors taking aim at short sellers and hedge funds who were pessimistic about the outlook for GameStop and other companies, forcing them to cover their short positions and drive up the price of the target stocks.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO worth knowing about: Melinda French Gates is hitting the eject <\/strong><strong>button. <\/strong>She\u2019s resigning as the co-chair of the Gates Foundation and will take with her some USD 12.5 bn to continue doing philanthropy. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fc9e3da3-c54d-40ab-9d49-87ed3a051ba3\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p>\n<p class=\"tag-border-left\"> MARKETS THIS MORNING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed <\/strong>with no real catalyst appearing to drive early trading and both European and US stock futures are little changed as we prepare to hit \u201csend\u201d on this morning\u2019s issue. <\/p>\n<p><a target=\"_blank\" id=\"t.e15cb586466acad49096015f1a1f0b028e01a577\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,260<\/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: +2.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,536<\/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: -1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,859<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2% (YTD: +9.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">25,381<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +2%)<\/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>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\">9,093<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: -5.1%)<\/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>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\">0.0% (YTD: +2.8%)<\/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>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\">5,2215,221<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +9.5%)<\/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>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\">8,415<\/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: +8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,079<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +12.3%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 83.44<\/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\">+0.8%<\/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>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 2.37<\/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\">+5.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,343<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 63,046<\/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\">+2.9% (YTD: +49.3%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI rose 0.4% yesterday <\/strong>on turnover of SAR 7 bn. The index is up 2.4% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Acig (+9.9%), Al Jouf (+7.8%) and Acwa Power (+5.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Medgulf (-10%), Gulf General (-10%) and Walaa (-10%)<\/p>\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong><strong> fell 1.2% yesterday <\/strong>on turnover of SAR 28.3 mn. The index is up 9.5% 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> Qomel (+16.8%), Pro Medex (+9.2%) and Food Gate (+7.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong>Osool and Bakheet (-9%), Future Care (-8.1%) and AZM (-6.9%).<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Our friends at First Mills have completed a share buyback of 300k shares worth <\/strong><strong>SAR 25.4 <\/strong><strong>mn<\/strong> earmarked for its employee shares program, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWkEQ3WFUjI-IEgPOxgw6jiQwQ3CU-PeOutL46q7tubc3BQIJEEHPGacqk4Lmul8Td-P4LlojD-fB0BrgYtjpLfqDoImTFsTPAEaho4FwZk9xiQG6QP7R44fy8beefEWC9ivwJuId-JJhDITnMn38wxep7XEgFduzilXmqdLjg1LlsWuggXVdm1xKnjNzKwsD30kO8qggeSZv3M3lbqLojtanXKuJXpVUXKJLkUp9yLI8GyImoCxWCWZhEXvKSVt-4wruHZdA\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTk5Mi9jb21wYW55U3ltYm9sLzIyODMvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The move comes as the milling company looks \u201cto attract and retain key talents and to motivate them to further strengthen their performance to achieve its strategic objectives.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Capital Market Authority has cleared Dammam-based Bena Steel to increase its&nbsp;<\/strong><strong>capital by 20% to SAR 60 mn<\/strong> through a bonus issuance, it said in a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3548.aspx\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The capital increase will see the transfer of 1 mn shares from the company\u2019s retained earnings to the company\u2019s capital. This will bring the steel maker\u2019s total shares up to 6 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The board of Jarir Marketing (Jarir Bookstore) approved disbursing SAR 228 mn in <\/strong><strong>dividends at SAR 0.19 apiece for 1Q 2024<\/strong>, the leading bookstore chain 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-oyMTQ0kA_ODVPvyA3NMIgMyA3XNdREQDipbwB\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDAxNi9jb21wYW55U3ltYm9sLzQxOTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Eligible shareholders can cash out on Wednesday, 29 May.<\/p>\n\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=\"86137\" 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=\"86137\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/foreign-minister-prince-faisal-bin-farhan-lands-in-bahrain-ahead-of-arab-summit\/\">\r\n                            Foreign Minister Prince Faisal bin Farhan lands in Bahrain ahead of Arab Summit                        <\/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\/14\/foreign-minister-prince-faisal-bin-farhan-lands-in-bahrain-ahead-of-arab-summit\/\" 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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Bin Farhan is set to meet a number of his regional counterparts on the sidelines of the meeting. The crisis in Gaza is expected to take center stage during the meetings in Bahrain.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Finance Minister Mohamed Al Jadaan landed in Bahrain first, where he led Saudi\u2019s&nbsp;<\/strong><strong>delegation in preparatory meetings<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.mof.gov.sa\/mediacenter\/news\/Pages\/News_13052024.aspx\" style=\"\" rel=\"noopener\">Finance Ministry statement<\/a>. He highlighted the previous Arab Summit hosted by Jeddah last year saw leaders agreeing on completing requirements for the Greater Arab Free Trade Area (Gafta) and the adoption of an Arab tourism strategy.<\/p>\n\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\/arab-summit\/\">Arab Summit<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mohamed-al-jadaan\/\">Mohamed Al Jadaan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/prince-faisal-bin-farhan\/\">Prince Faisal bin Farhan<\/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=\"86139\" 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=\"86139\">\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\">Sports<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/golf-merger-in-the-rough-and-a-lot-of-foodball-news\/\">\r\n                            The Liv Golf-PGA merger is in the rough \u2014 and we have lots of foodball news this morning                        <\/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\/14\/golf-merger-in-the-rough-and-a-lot-of-foodball-news\/\" target=\"_blank\">\n                    Open in new tab                    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href=\"https:\/\/x.com\/intent\/post?text=Golf merger in the rough \u2014 and a lot of foodball news&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/golf-merger-in-the-rough-and-a-lot-of-foodball-news\/\">\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\/14\/golf-merger-in-the-rough-and-a-lot-of-foodball-news\/&title=Golf merger in the rough \u2014 and a lot of foodball news\">\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=Golf+merger+in+the+rough+%E2%80%94+and+a+lot+of+foodball+news+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F14%2Fgolf-merger-in-the-rough-and-a-lot-of-foodball-news%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\/14\/golf-merger-in-the-rough-and-a-lot-of-foodball-news\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/983.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86140\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/14\/golf-merger-in-the-rough-and-a-lot-of-foodball-news\/983-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/983.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"983.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/983.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/983.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86139\" class=\"content-area-description single-story post-86139 post type-post status-publish format-standard has-post-thumbnail hentry category-_newspack_sports tag-boxing tag-enterpriseam-ksa tag-football tag-golf tag-liv-golf tag-ma-watch tag-pga-tour tag-racing tag-sports wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.ef540654-d54e-4072-9399-e07b46b24a17.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>We have plenty of news from the world of sports this morning:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Another sign that the PGA Tour unlikely to go through with its Liv Golf merger: The <\/strong><strong>PGA board member most in favor of the transaction is quitting. <\/strong>Investment banker Jimmy Dunne \u201cis resigning from his post, saying he has been shut out from stalled talks. \u201cNo meaningful progress has been made toward a transaction with the PIF,\u201d he said in a letter to the board seen by the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/sports\/golf\/pga-tour-jimmy-dunne-liv-golf-saudi-arabia-4ef94364?mod=Searchresults_pos1&amp;page=1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>.<\/p>\n<p class=\"tag-border-left\">RACING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Saudi driver Yazeed Al Rajhi and German co-driver Timo Gottschalk took the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/saudi-championship.samf.gov.sa\/t-en\/tabuk-rally\" style=\"\" rel=\"noopener\">Tabuk<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/saudi-championship.samf.gov.sa\/t-en\/tabuk-rally\" style=\"\" rel=\"noopener\">Toyota Rally<\/a><\/strong><strong> in a second consecutive victory on Saturday<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2100858\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported, with a 16:37 margin of victory. \u201cIt was good for us,\u201d Al Rajhi said, according to <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2508581\/sport\" style=\"\" rel=\"noopener\">Arab News<\/a>. \u201cIt was not easy, very tricky actually. We have good stages in Saudi now. Before it was flat, flat and now it is more technical with good navigation and you need to focus all the time. Now we look ahead to Baja Greece.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Other notable performances include <strong>Saudi female driver Dania Akeel and co-driver <\/strong><strong>Stephane Duple who finished second overall<\/strong>.<\/p>\n<p class=\"tag-border-left\">BOXING<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The buildup for the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.visitsaudi.com\/en\/events\/ring-of-fire\" style=\"\" rel=\"noopener\">Ring of Fire<\/a><\/strong><strong> boxing showdown between heavyweight champion <\/strong><strong>Tyson Fury and Oleksandr Usyk has begun<\/strong> with the arrival of Anthony Joshua, former two-time former world heavyweight champion, in Saudi to spectate the Riyadh Season event, organizers said in a <a target=\"_blank\" href=\"https:\/\/x.com\/RiyadhSeason\/status\/1789760846198927758\" style=\"\" rel=\"noopener\">post on X<\/a>. The fight is set to take place on Saturday, 18 May in the Kingdom Arena. You can book your tickets <a target=\"_blank\" href=\"https:\/\/webook.com\/en\/events\/ring-of-fire-tickets\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p class=\"tag-border-left\">FOOTBALL<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- PIF boss Yasir Al Rumayyan was spotted on Tyneside earlier this week amid talks of <\/strong><strong>transfers by <\/strong><strong>Newcastle, majority owned by the PIF<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.newcastleworld.com\/sport\/football\/newcastle-united\/saudi-arabian-representatives-visit-newcastle-united-for-crunch-talks-amid-stadium-sporting-director-and-transfer-plans-4625213\" style=\"\" rel=\"noopener\">Newcastle World<\/a> writes. There\u2019s also talk of a stadium expansion that could draw in Al Rumayyan, who was spotted with other fund executives in the stands during the team\u2019s 1-1 draw with Brighton. Newcastle\u2019s European quest will be decided later this month if it secures sixth spot and Manchester City wins the FA Cup final.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Speaking of football: <\/strong>A number of the Saudi Pro League clubs are looking to sign Manchester United\u2019s Brazilian duo Casemiro and Bruno Fernanes in the upcoming summer transfer window, <a target=\"_blank\" href=\"https:\/\/www.telegraph.co.uk\/football\/2024\/05\/13\/man-utd-saudi-clubs-sign-casemiro-bruno-fernandes\/\" style=\"\" rel=\"noopener\">The Telegraph<\/a> reported yesterday. Casemiro is reportedly on Cristiano Ronaldo\u2019s Al Nassr\u2019s radar. There is also interest from local clubs for Liverpool goalkeeper Alisson and Manchester City\u2019s goalkeeper Ederson. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve been expecting more player transfers:<\/strong> More players are inbound, joining the likes of Karim Benzema, Cristiano Ronaldo and Neymar, officials <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2de424a1-8d9b-4c27-892f-ff2a08436a20\" style=\"\" rel=\"noopener\">said in March<\/a>. It remains unclear if the transfers would be of the same caliber as their predecessors, but Liverpool star Mo Salah is among those names that could be coming to Saudi.<\/p>\n\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\/boxing\/\">boxing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/football\/\">football<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/golf\/\">golf<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/liv-golf\/\">Liv Golf<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pga-tour\/\">PGA Tour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/racing\/\">racing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86141\" 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\/14\/86141\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86141\" class=\"content-area-description single-story post-86141 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 style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 May (Saturday): Bidding deadline for Duba\u2019s seawater reverse osmosis desalination plant in Tabuk.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-28 May (Monday-Tuesday): Smart Data & AI Summit Saudi, JW Marriott Hotel, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in May:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Global Trade Review (GTR): KSA<\/span><\/li>\n<li><span style=\"font-weight:400;\">Saudi Energy Convention<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-3 June (Sunday-Monday): Global Project Management Forum, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 June (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudisportshow.com\/\" style=\"\">Saudi Sports Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 June (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/aqaratexpo.com\/en\/home\/\" style=\"\">Aqarat Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/saudi-arabia-host-world-environment-day-2024-focus-land-restoration\" style=\"\">World Environment Day<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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 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;\">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 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>11-12 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 style=\"font-weight:400;\">, 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><\/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 style=\"font-weight:400;\">, Dammam.<\/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\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>Rothschild gets Nupco IPO | OpenAI\u2019s ScarJo chatbot sets up a tech-heavy season | Saudi Great Futures | Cybersecurity laggards | Liv-PGA merger in the rough | Time is biggest challenge for gigaprojects<\/p>\n","protected":false},"featured_media":86119,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-86118","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e279faa6-a139-46c2-887e-22cd5b955904","teaser":"Rothschild gets Nupco IPO | OpenAI\u2019s ScarJo chatbot sets up a tech-heavy season | Saudi Great Futures | Cybersecurity laggards | Liv-PGA merger in the rough | Time is biggest challenge for gigaprojects","photo_url":"https:\/\/ent.news\/2024\/5\/985.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>Of Brits, AI ScarJo, and the passing of time - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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