{"id":86166,"date":"2024-05-15T00:00:00","date_gmt":"2024-05-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=86166"},"modified":"2025-12-14T18:06:33","modified_gmt":"2025-12-14T18:06:33","slug":"gigaprojects-cant-be-allowed-to-overheat-economy-al-jadaan","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/gigaprojects-cant-be-allowed-to-overheat-economy-al-jadaan\/","title":{"rendered":"Gigaprojects can\u2019t be allowed to \u201coverheat\u201d economy \u2013Al Jadaan"},"content":{"rendered":"<section id=\"86168\" 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=\"86168\">\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\/15\/have-talks-on-a-gcc-china-trade-pact-ground-to-a-halt\/\">\r\n                            THIS MORNING: Have talks on a GCC-China trade pact ground to a halt?                        <\/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\/15\/have-talks-on-a-gcc-china-trade-pact-ground-to-a-halt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The daily, which frequently telegraphs government policy, said the finance minister had \u201curged economic planners to optimize their strategies to curb \u2018economic leakage\u2019 and prevent resources or funds from being wasted.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>There\u2019s an argument to be made that Al Jadaan\u2019s remarks represent a shift in policy. The finance minister was the first official to talk openly about pacing out some aspects of gigaprojects even as he noted that the treasury would run modest deficits to continue investing in economic diversification. Others, including Economy Minister Faisal Alibrahim, have joined him \u2014 Alibrahim recently called gigaprojects \u201cmodular.\u201d Officials have also flagged that it is important that state borrowing activity not crowd the private sector out of the domestic debt market. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Al Jadaan was speaking at a forum in Qatar. <\/strong>While on-stage content at the forum was produced by Bloomberg, the event itself is put on by the Qatari government. Al Jadaan\u2019s appearance there \u2014 and his choice of the venue to make a significant policy statement \u2014 speaks to consistently warming ties between Doha and Riyadh.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have more in this morning\u2019s news well, below. <\/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- Joe Biden\u2019s national security advisor, Jake Sullivan, is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/white-houses-sullivan-travel-saudi-arabia-israel-2024-05-14\/\" style=\"\" rel=\"noopener\">coming back to Saudi<\/a><\/strong><strong> this <\/strong><strong>weekend<\/strong>, a senior White House official said yesterday in remarks that got wide pickup in the global business press overnight. He\u2019ll also be heading to Israel, where he\u2019s expected to focus on the IDF\u2019s ramp-up of its assault on Rafah. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sullivan\u2019s visit will raise expectations that there may be progress on a series of key <\/strong><strong>agreements <\/strong>between the two countries covering defense, artificial intelligence and advanced technologies, and the creation of a domestic nuclear power industry. He had been scheduled to travel to Riyadh a few weeks back, but canceled at the last minute after cracking a rib in an accident.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Washington had originally hoped to sign the three pacts as part of a wider series of accords that would see Saudi normalize ties with Israel, but some in the Biden administration are pushing to close the bilateral agreements now to put pressure on Israel to come to the table on Gaza. While Axios is positioning that as a <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/05\/14\/sullivan-saudi-arabia-israel-tension-gaza-rafah-war\" style=\"\" rel=\"noopener\">\u201clong shot,\u201d<\/a> it also notes that \u201cUS and Saudi officials say they've made significant progress in their talks.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sullivan will be the third senior US official to stop in Riyadh in less than a week. <\/strong>Energy Secretary Jennifer Granholm is due here shortly (she\u2019s a key player in the nuclear pact) and Nasa chief Bill Nelson will also be here this week. <\/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>#3- It\u2019s the second and final day of a high-profile Saudi-UK business summit. <\/strong><a target=\"_blank\" href=\"https:\/\/www.events.great.gov.uk\/website\/13088\/\" style=\"\" rel=\"noopener\">Saudi Great<\/a><a target=\"_blank\" href=\"https:\/\/www.events.great.gov.uk\/website\/13088\/\" style=\"\" rel=\"noopener\">Futures<\/a>, a UK government-sponsored investment conference, is backed by our friends at HSBC and brings together as many as 450 executives from some 300 British companies. We have chapter and verse on the first day of the conference in this morning\u2019s news well, below. <\/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 41\u00b0C and a low of 25\u00b0C. <strong>Makkah<\/strong> is set for a clear sky and a cooler day with a high of 39\u00b0C and a more pleasant low expected at 30\u00b0C, while windy weather is in the cards for <strong>Jeddah<\/strong> with a high of 36\u00b0C and a low of 26\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>Red Sea Fashion Week will get underway tomorrow and run until Saturday, 18 May <\/strong>at the St. Regis Red Sea Resort, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2096864\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>. The event, organized by the <a target=\"_blank\" href=\"https:\/\/fashion.moc.gov.sa\/en\" style=\"\" rel=\"noopener\">Saudi Fashion Commission<\/a>, will feature an opening show on the first day, followed by two days of runway shows showcasing collections from both Saudi and international designers.<\/p>\n<p 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 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<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=\"wwtt1\"><\/a>  <strong>#1- <\/strong><strong>China-Gulf trade agreement in jeopardy? <\/strong>Trade talks between the Gulf Cooperation Council (GCC) and China are hitting a wall as Saudi remains concerned that low-cost Chinese products could hinder its efforts to boost domestic manufacturing and become an industrial powerhouse, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china-gulf-free-trade-talks-stall-saudi-industrial-agenda-sources-say-2024-05-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing sources it says are in the know. The agreement is not yet entirely off the table, but will require compromises from both sides of the table to move forward, the sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The last stretch is proving the hardest:&nbsp;<\/strong>Chinese officials said <a target=\"_blank\" href=\"https:\/\/english.aawsat.com\/business\/4822066-beijing-china-gcc-complete-90-free-trade-agreement\" style=\"\" rel=\"noopener\">earlier this year<\/a> that while talks were \u201c90%\u201d of the way there, a number of difficult issues were still on the table. Trade talks first began 20 years ago but lapsed without a conclusion. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of China:<\/strong> Local real estate developers expect freshly-inked agreements between the Housing Ministry\u2019s real estate investment arm, National Housing Company (NHC), and Chinese contractors will help to provide high-quality housing at affordable price points, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/05\/13\/article_2725961.html#:~:text=%D9%8A%D9%86%D8%AA%D8%B8%D8%B1%20%D8%A3%D9%86%20%D8%AA%D8%B9%D9%88%D8%AF%20%D8%A7%D9%84%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A7%D8%AA%20%D8%A7%D9%84%D8%AA%D9%8A,%D9%84%D9%80%22%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9%22%20%D9%85%D8%B7%D9%88%D8%B1%D9%88%D9%86%20%D8%B9%D9%82%D8%A7%D8%B1%D9%8A%D9%88%D9%86.\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> reported. The agreements will help accelerate the pace of construction and halve costs, Riyadh-based real estate developer Menassat Realty CEO Khaled Al Mobid told Aleqtisadiah.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>NHC signed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b76dcb4e-15ea-4639-8e18-e2c22e6080e2\" style=\"\" rel=\"noopener\">cooperation agreement<\/a> with Chinese-state owned conglomerate Citic to establish an industrial city and logistics zones for building materials <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/am\/2024-05-13\/11\" style=\"\" rel=\"noopener\">and another<\/a> with Chinese contractor China Machinery Engineering to build 20k homes in NHC projects. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>With <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3b473a40-965c-44aa-b4d7-d023fd47bcf2\/saudi-has-multiple-multi-bn-usd%253cmark%253e-construction%253c%2Fmark%253e-projects-in-the-pipeline-%25e2%2580%2594-here%25e2%2580%2599s-a-rundown-of-high-profile-gigaprojects\" style=\"\" rel=\"noopener\">multiple USD bn gigaprojects<\/a> in the works and a push to add housing in Riyadh and beyond, officials are increasingly wary of ensuring that building materials are available \u2014 and that the Kingdom <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/21b92bd1-ce7a-4d09-b834-a40f900a7830\/pif-eyes-stake-in-saudi-binladin-group\" style=\"\" rel=\"noopener\">has the construction players able to execute<\/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>#2- WHISPERS- It looks like merger talks between PIF-backed Liv Golf and the PGA Tour are still on. <\/strong>\u201cWe\u2019re working on negotiations with PIF. It\u2019s ongoing; it\u2019s fluid; it changes day-to-day. We\u2019re making steps and it may not be giant steps, but we\u2019re making steps,\u201d golf star Tiger Woods said yesterday, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/golf\/pga-tour-liv-golf-negotiations-could-keep-woods-ryder-cup-post-2024-05-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Woods, a member of two key PGA boards, suggested that talks between the two sides meant that he may not have time to captain the US Ryder Cup team this 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\"><a id=\"wwtt2\"><\/a> <strong>#3- You can now spend up to SAR 3k at dutyfree shops on arrival: <\/strong>The Zakat, Tax and Customs Authority (Zatca) signed off on new regulations for dutyfree purchases on arrival at air, sea, and land ports across the country, capping spending at SAR 3k per person, Zatca said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/Zatca_sa\/status\/1790322905877733644\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The new rules also cap the number of smokes each person can purchase at 200. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zatca has begun receiving licensing requests from operators interested in establishing <\/strong><strong>dutyfree stores within arrival halls<\/strong>, according to the statement. <\/p>\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Opec\u2019s forecast for strong global oil demand in 2024 remain \u201cbroadly <\/strong><strong>unchanged,\u201d<\/strong> itsaid in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1068.pdf\" style=\"\" rel=\"noopener\">monthly<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1068.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>, saying it expects oil demand to grow by 2.25 mn barrels per day (bbl \/ d) this year and 1.85 mn bbl \/ d next year. This is the last report to be released by the Vienna-based group before OPEC+ meets on 1 June to decide on whether to extend voluntary oil cuts into the second half of the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The calculus for forecasting world demand on crude is changing a little:<\/strong> Opec said it will scrap a previous approach to calculating the world\u2019s demand of its own crude, and will instead use forecasts on \u201cdemand for DoC crude\u201d in reference to the OPEC+ framework. The move \u201cnot only demonstrates solidarity and unity\u2026but also helps eliminate the potential for misunderstanding and\/or misinterpretations.\u201d An OPEC+ source told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/opec-switches-call-opec-global-oil-demand-outlook-sources-say-2024-05-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> last week that OPEC+ demand was more relevant since its framework was the main forum for cooperation on the oil market.<\/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>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday before 7am Riyadh time \u2014 without charge, thanks to our friends at Cenomi.<br \/><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a mixed bag on global front pages this morning <\/strong>as a number of stories captivate the attention of the business pages. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US has imposed a series of new tariffs on Chinese imports<\/strong>, including a 100% tariff on Chinese EVs as part of \u201c <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/article\/2024\/may\/14\/joe-biden-tariff-chinese-made-electric-vehicles\" style=\"\" rel=\"noopener\">a package of measures designed to protect US manufacturers from cheap imports<\/a>.\u201d Also on the list: semiconductors. We have the details in this morning\u2019s Planet Finance, below. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>YOUR DAILY DOSE OF AI NEWS- Google introduced its AI assistant <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fc2f9c44-76ad-4f00-8f1a-e15d268660f2\" style=\"\" rel=\"noopener\">Project Astra<\/a><\/strong><strong>. <\/strong>Think of Project Astra as your personal assistant who can help you find the keys you misplaced or explain a complicated piece of code. It will be powered by an upgraded version of Google\u2019s Gemini and eventually be available across all of Google\u2019s software. Like OpenAI\u2019s Scarlett Johansson-sounding model yesterday, <strong>Project Astra can interact with users through text, audio, and video.<\/strong> The Verge\u2019s David Pierce has a solid rundown <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2024\/5\/14\/24156296\/google-ai-gemini-astra-assistant-live-io\" style=\"\" rel=\"noopener\">here<\/a> if you want more. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Google is also going to start to roll out AI search summaries <\/strong>to its users, starting in the US.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- OpenAI cofounder\u2019s and chief scientist is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/14\/openai-co-founder-ilya-sutskever-says-he-will-leave-the-startup.html\" style=\"\" rel=\"noopener\">out<\/a><\/strong><strong>. <\/strong>Ilya Sutskever leaves six months after he participated in a palace coup that saw CEO Sam Altman briefly kicked out of the hot AI startup.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- THE MEME STOCK FRENZY CONTINUES <\/strong>as Roaring Kitty and his army of winged monkeys pushed Reddit shares up 7% to USD 62.34 during trading yesterday. It\u2019s reddit\u2019s second-highest close since it made its market debut. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want the backstory? <\/strong>Check out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eba1a3ca-e0f0-4b43-8658-89d86cb25f25\/roaring-kitty-is-back%25e2%2580%25a6\" style=\"\" rel=\"noopener\">yesterday\u2019s Planet Finance<\/a>, where we dove into the return of Roaring Kitty and its impact on meme stocks. The Wall Street Journal is not along in wondering whether <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/stocks\/meme-stocks-jump-gamestop-amc-keith-gill-returns-c46f76c8?mod=hp_lead_pos7\" style=\"\" rel=\"noopener\">Kitty coming \u201cout of hibernation\u201d<\/a> means meme stocks are a thing again \u2014 or if this is just a blip.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Mining group Anglo American is planning to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/why-the-world-has-gone-cuckoo-for-copper-ef8c385a\" style=\"\" rel=\"noopener\">break up<\/a><\/strong><strong> after rejecting second BHP <\/strong><strong>offer<\/strong> in a bid to retain control of its most profitable companies, including its copper mining outfit \u2014 a smart move given the current <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f7487018-726e-4854-8165-dda1612e893f\" style=\"\" rel=\"noopener\">copper boom<\/a>.<\/p>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudienergyconvention.com\/\" style=\"\" rel=\"noopener\">Saudi Energy Convention<\/a><\/strong><strong> from Sunday, 19 May to Tuesday, 21 <\/strong><strong>May<\/strong>. The convention will see energy and utilities industry leaders advance collaborative decarbonization efforts and identify innovation areas. It will also host the <strong>Saudi Utilities Convention<\/strong> and <strong>Saudi Hydrogen Convention<\/strong> to address the role and challenges of rolling out hydrogen, water and utility projects that are in line with the global energy transition. Over 10k energy professionals and 200 industry speakers will be present at the event. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/futureaviationforum.com\/en\" style=\"\" rel=\"noopener\">Future Aviation Forum<\/a><\/strong><strong> will get underway on Monday, 20 May and run until <\/strong><strong>Wednesday, 22 May<\/strong> at the King Abdulaziz International Conference Center in Riyadh. The event, organized by the General Authority of Civil Aviation, will see the Kingdom showcasing some USD 100 bn worth of investment options in the aviation and logistics sector at large.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh&nbsp;<\/strong><strong><a target=\"_blank\" href=\"https:\/\/waga-aci.expoplatform.com\/\" style=\"\" rel=\"noopener\">will host<\/a><\/strong><strong> the annual conference of the Airports Council International<\/strong> \u2014 also known as <a target=\"_blank\" href=\"https:\/\/aci.aero\/events\/aci-asia-pacific-aci-world-annual-general-assembly-conference-and-exhibition-waga\/\" style=\"\" rel=\"noopener\">WAGA<\/a> \u2014 from Tuesday, 21 May to Thursday, 23 May. The global gathering brings together leading senior executives from around the world to cover topics that shape the aviation industry. The event\u2019s speakers include PIF-owned airline Riyadh Air CEO Rony Douglas, Saudi Air Connectivity Program Majid Khan, Riyadh Airports CEO Ayman Aboabah and others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>D<\/strong><strong>emo day for the final round of the Sanabil 500 MENA seed accelerator will kick off<\/strong><strong> on <\/strong><strong>Wednesday, 29 May<\/strong> in Riyadh with seven finalists. Applications for the next batch <a target=\"_blank\" href=\"https:\/\/mena.aplica.500.co\/\" style=\"\" rel=\"noopener\">are now open<\/a> and will close on 6 August 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh will host a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/globalaisummit\/status\/1789658478690078841\" style=\"\" rel=\"noopener\">Global AI Summit<\/a><\/strong><strong> from 10-12 September<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2101219\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. The event, which is organized by the Saudi Authority for Data and Artificial Intelligence, will focus on key AI topics and trends, delving into its local and global adoptions, ethics, and infrastructure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dammam will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudimaritimecongress.com\/en\/home.html\" style=\"\" rel=\"noopener\">Saudi Maritime and Logistics Congress<\/a><\/strong><strong> from Wednesday, 18 <\/strong><strong>September to Thursday, 19 September.<\/strong> The two-day event looks to gather up to 10k attendees and 200 exhibitors, and will discuss topics including interlinked logistics, developments in supply chains, digitalisation, decarbonisation, the energy transition, and workforce development.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/foreign-trade\/\">foreign trade<\/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\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-china-relations\/\">Saudi-China relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-uk-relations\/\">Saudi-UK relations<\/a>\n          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class=\"\r\n                story-section            \"\r\n            id=\"86171\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/no-overheating\/\">\r\n                            Gov\u2019t doesn\u2019t want mega projects to \u201coverheat\u201d the economy, says FinMin                        <\/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 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1116.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1116.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1116.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1116.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86171\" class=\"content-area-description single-story post-86171 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-mohamed-al-jadaan tag-neom tag-public-investment-fund-pif wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.cce09ce3-638a-47fc-ba53-cd8639c59a71.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The local economy should be given time to catch up with the significant <\/strong><strong>investments <\/strong><strong>needed to implement gigaprojects<\/strong>, Finance Minister Mohamed Al Jadaan said at the Qatar Economic Forum yesterday, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-14\/saudi-economic-overheating-fears-emerge-as-constraint-on-plans\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The government should be cautious about \u201coverheating\u201d the economy, Al Jadaan said, using the same term as Economy and Planning Minister Faisal Alibrahim last month to provide assurances on the economy\u2019s capacity to fund projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In his words:<\/strong> \u201cIf you don\u2019t allow your economy to catch up with your projects, basically what will happen is you\u2019ll import a lot more,\u201d Al Jadaan said, warning that overheating the economy could lead inflation to accelerate and result in what he called \u201ceconomic leakage,\u201d suggesting that pushing ahead with the projects without the domestic capacity to support implementation would end up incurring higher costs. \u201cSo giving it more time is actually wise,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> Officials have lately hammered the idea of preventing the economy from overheating on the back of its economic diversification push. It coincides with reports of a slower buildout of Neom, which drove officials at the project to assure <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 the buildout of the city was proceeding on schedule. Neom also recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/083185a1-da33-46d9-809b-4562199b25b6\/\" style=\"\" rel=\"noopener\">came off the road<\/a> in China with officials looking to rally interest from Hong Kong, Beijing, and Shanghai. It is looking to diversify its funding sources away from PIF, securing a fresh revolving credit facility <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/75787763-837c-42a8-9501-9061ab9fc3fe\" style=\"\" rel=\"noopener\">worth SAR 10 bn<\/a> from local banks and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/11d20e6c-678e-468e-879b-82edc958350b\" style=\"\" rel=\"noopener\">reportedly planning<\/a> what could be its first-ever sukuk sale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Jadaan first alluded to this view on allowing the economy to catch up with the <\/strong><strong>government\u2019s projects in December<\/strong>, when he hinted that the government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/63cece36-2173-462e-b416-e07d99393408\" style=\"\" rel=\"noopener\">could strategically slow down<\/a> the execution of some of its economic transformation projects, meaning some could wrap past their initial 2030 deadlines. \u201cCertain projects can be expanded for three years \u2014 so it\u2019s 2033 \u2014 some will be expanded to 2035, some will be expanded even beyond that and some will be rationalized,\u201d Al Jadaan said late last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Officials don\u2019t want government borrowing to soak up liquidity the private sector needs to grow. Access to debt for both private companies and citizens is key to growth, Al Jadaan said, noting that the government has no interest in crowding out the private sector. Policymakers have also considered the delay in terms of how much international debt the Kingdom wants to take on, emphasizing the need to stay below a sustainable debt ceiling measured against both GDP and non-oil GDP, the minister added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The Kingdom <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c2fc3553-9b62-45b2-976c-e59edea1878e\" style=\"\" rel=\"noopener\">reported its sixth consecutive quarter<\/a> with a budget deficit, posting a deficit of SAR 12.4 bn in the first quarter of 2024 \u2014 four times higher than its shortfall in 1Q 2023. Officials had accepted that they may have to accept modest fiscal deficits as the price of pursuing growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A wave of optimism:<\/strong> Al Jadaan said he was positive on plans remaining on track despite higher spending to implement projects. \u201cWe are very conservative in our projections and therefore our plans on how the oil revenue will cover that expenditure,\u201d he said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/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\/neom\/\">NEOM<\/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=\"86173\" 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=\"86173\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/saudi-great-futures-day-1-uk-saudi-business-ties-in-the-spotlight\/\">\r\n                            UK seeks \u201cstronger than ever\u201d ties with Saudi at Great Futures conference                        <\/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\/15\/saudi-great-futures-day-1-uk-saudi-business-ties-in-the-spotlight\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The two-day Saudi-UK investment conference \u2014 which is backed by our friends at HSBC\u2014 is set to wrap up today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UK wants to be a part of Vision 2030:<\/strong> \u201cOur collaboration across the breadth of the relationship is remarkable. Britain doesn\u2019t just endorse Saudi Arabia\u2019s Vision 2030, we want to be a part of it,\" UK Deputy Prime Minister Oliver Dowden <a target=\"_blank\" href=\"https:\/\/twitter.com\/cabinetofficeuk\/status\/1790326645938692601\" style=\"\" rel=\"noopener\">said<\/a>. \u201cWe participate in leading the economic and social elements of our relations as a means of work, execution and transformation,\u201d Dowden <a target=\"_blank\" href=\"https:\/\/www.saudigazette.com.sa\/article\/642854\/SAUDI-ARABIA\/Sunak-British-Saudi-trade-exchange-crosses-$21-billion\" style=\"\" rel=\"noopener\">added<\/a>. Check out his full remarks <a target=\"_blank\" href=\"https:\/\/www.gov.uk\/government\/speeches\/deputy-prime-minister-speech-at-great-futures-event\" 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>A new, deeper friendship:&nbsp;<\/strong>\u201cOver the next two days, we will hear from Saudi leaders and companies about how to make Vision 2030 a reality, and the tremendous opportunities it presents to all of us,\u201d UK Prime Minister <a target=\"_blank\" href=\"https:\/\/www.saudigazette.com.sa\/article\/642854\/SAUDI-ARABIA\/Sunak-British-Saudi-trade-exchange-crosses-$21-billion\" style=\"\" rel=\"noopener\">Rishi Sunak said<\/a> during a virtual appearance. The push for closer cooperation comes as the UK looks to \u201c[launch] the next phase of the deep and growing partnership\u201d between the two countries, Sunak said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>With an ambitious goal for bilateral trade:<\/strong> The UK wants to see bilateral trade between London and Riyadh to hit GBP 30 bn by 2030, with bilateral trade \u201calready growing quite rapidly,\u201d Dowden told <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2510171\/saudi-arabia\" style=\"\" rel=\"noopener\">Arab News<\/a>. Trade exchange between the two countries surpassed the <a target=\"_blank\" href=\"https:\/\/www.saudigazette.com.sa\/\" style=\"\" rel=\"noopener\">GBP 17 bn<\/a> mark in 2023, Sunak said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi wants<\/strong><strong> to venture into trade across new industries as it diversifies its economy<\/strong>, including culture, sports, entertainment, and ins., Commerce Minister Majid Al Qasabi said <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2510106\/business-economy\" style=\"\" rel=\"noopener\">during a panel with Dowden<\/a>. Dowden said he sees technology and artificial intelligence a potential area of cooperation due to Saudi\u2019s \u201chuge expertise\u201d in the industry.<\/p>\n<p class=\"tag-border-left\">INVESTMENT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE-<\/strong> Al Qasabi and Dowden agreed to boost cooperation in conventional energy, renewable energy, petrochemicals, green hydrogen, carbon capture and storage and others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- Investment in film, entertainment, and esports? <\/strong>UK Culture Minister Lucy Frazer is also in Riyadh. In a keynote yesterday, she talked up prospects for Saudi-UK cooperation in esports, film and television, the museum space, education, and training for the tourism industry, among other sectors. <a target=\"_blank\" href=\"https:\/\/www.gov.uk\/government\/speeches\/culture-secretary-speech-at-great-futures\" style=\"\" rel=\"noopener\">Read her full remarks here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia has invested USD 21 bn in the UK since 2017<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2102747\" style=\"\" rel=\"noopener\">joint statement<\/a> from the conference\u2019s partnership board, led by Al Qasabi and Dowden. Some 52 British companies have opened regional offices in Riyadh, with the PIF and Neom opening offices in the UK. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UK accounted for some 52% of investments made in Saudi during 1Q 2024<\/strong>, making it Riyadh\u2019s second-largest investor, Investment Minister Khaled Al Falih <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1727480\" style=\"\" rel=\"noopener\">said during the conference<\/a>. Saudi is actively looking to unlock more capital from the UK, Al Falih said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- UK-based sustainable chemicals player <\/strong><strong><a target=\"_blank\" href=\"https:\/\/matthey.com\/\" style=\"\" rel=\"noopener\">Johnson Mathey<\/a><\/strong><strong> is setting up an office in <\/strong><strong>Riyadh<\/strong> \u201cvery soon,\u201d it said in a <a target=\"_blank\" href=\"https:\/\/www.prnewswire.co.uk\/news-releases\/johnson-matthey-announces-new-office-in-riyadh-ksa-extending-its-commitment-to-the-region-and-its-sustainability-goals-302145012.html\" style=\"\" rel=\"noopener\">statement<\/a>. \u201cJM technologies will support KSA as it seeks to diversify its energy sources and reach its sustainability goals,\u201d the company\u2019s CEO for Catalyst Technologies Maurits van Tol said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/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=\"86175\" 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=\"86175\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/fakeeh-group-sets-final-ipo-price-at-the-top-of-the-range\/\">\r\n                            Fakeeh Group sets final IPO price at the top of the range                        <\/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\/15\/fakeeh-group-sets-final-ipo-price-at-the-top-of-the-range\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The institutional portion of the offering drew orders worth a combined SAR 341 bn (USD 91 bn).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Share price set:<\/strong> The company set its final IPO price at the top of its initial price range at SAR 57.50 per share, which would give the family business a market cap of SAR 13.3 bn post-listing. The pricing means Fakeeh is set to raise SAR 2.9 bn from the offering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The two-day retail subscription period starts on Tuesday, 21 May. Final allocations are slated for Monday, 27 May, and refunds, if any, by Tuesday, 4 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The group is taking a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/341bef0a-b671-4d76-8852-f8d5914c345c\/fakeeh-care-group-aims-to-sell-21.5%2525-stake-in-tadawul-debut\" style=\"\" rel=\"noopener\">21.5% stake to market<\/a> through an offering of both new and existing shares. It plans to offer 30 mn new shares and 19.8 mn existing shares held by the Fakeeh family. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Our friends at<strong> HSBC<\/strong> are acting as sole financial adviser. <strong>HSBC<\/strong> is joint bookrunner together with our friends at<strong> EFG Hermes <\/strong>as well as<strong> ANB Capital<\/strong>. <strong>Moelis<\/strong> is advising the selling shareholders, while AlRajhi Bank, Saudi National Bank, Arab National Bank, SAB, Alinma Bank and Bank Aljazira are serving as receiving banks.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-market\/\">Capital market<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fakeeh-group\/\">Fakeeh Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tadawul\/\">Tadawul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86177\" 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=\"86177\">\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\">Food<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/mmmm-chicken\/\">\r\n                            Poultry industry majors sign SAR 4 bn in agreements at Middle East Poultry Expo                        <\/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\/15\/mmmm-chicken\/\" 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\/15\/mmmm-chicken\/')\">\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\/15\/mmmm-chicken\/\">\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=Mmmm\u2026 chicken&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/mmmm-chicken\/\">\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\/15\/mmmm-chicken\/&title=Mmmm\u2026 chicken\">\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=Mmmm%E2%80%A6+chicken+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F15%2Fmmmm-chicken%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\/15\/mmmm-chicken\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1130.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86178\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/mmmm-chicken\/1130-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1130.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1130.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1130.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1130.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86177\" class=\"content-area-description single-story post-86177 post type-post status-publish format-standard has-post-thumbnail hentry category-food tag-enterpriseam-ksa tag-food tag-investment-watch tag-manufacturing 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\/.2ce71e2c-ccbf-4487-9219-84b67068704a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>L<\/strong><strong>ocal, regional, and international <\/strong><strong>poultry players signed agreements worth <\/strong><strong>a collective SAR 4 bn<\/strong> at the Middle East Poultry Expo, which kicked off yesterday, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2102406\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reports. This is the \u201clargest exhibition specialized in the poultry industry,\u201d featuring some 207 exhibitors from 37 countries and over visitors from 54 countries, according to the <a target=\"_blank\" href=\"https:\/\/www.mep-expo.com\/en\/home-4\/\" style=\"\" rel=\"noopener\">expo\u2019s page<\/a>. The event wraps up today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The market, by the numbers: <\/strong>Saudi is the Middle East and Africa\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7988938e-22fa-44e8-a51c-7fa1b52e073d\/saudi-gigaproject-summit-kicks-off-%2B-mohammed-hadi-al-rasheed-wraps-nomu-ipo\" style=\"\" rel=\"noopener\">top poultry producer<\/a> and the third-largest consumer of poultry and meat products globally. The local industry hit a record high production level with 100 mn kilograms of poultry produced <a target=\"_blank\" href=\"https:\/\/www.saudigazette.com.sa\/article\/641515\" style=\"\" rel=\"noopener\">in February 2024<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Almarai had a busy day:<\/strong> Food and dairy giant Almarai inked several agreements at the event, including two with Swiss company <a target=\"_blank\" href=\"https:\/\/www.buhlergroup.com\/global\/en\/homepage.html\" style=\"\" rel=\"noopener\">B\u00fchler<\/a> to establish feed mills, one with Belgium\u2019s <a target=\"_blank\" href=\"https:\/\/www.petersime.com\/\" style=\"\" rel=\"noopener\">Petersime<\/a> to set up hatcheries, and another agreement with Germany\u2019s <a target=\"_blank\" href=\"https:\/\/www.bigdutchman.com\/en\/homepage\/\" style=\"\" rel=\"noopener\">Big Deutschmann<\/a> to work together on supplying feed equipment to serve the sector. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Feed supply and hatcheries:<\/strong> Saudi <a target=\"_blank\" href=\"https:\/\/balady-sa.com\/?lang=en\" style=\"\" rel=\"noopener\">Balady Poultry<\/a> and Danish company <a target=\"_blank\" href=\"https:\/\/www.baader.com\/\" style=\"\" rel=\"noopener\">Baader Food<\/a><a target=\"_blank\" href=\"https:\/\/www.baader.com\/\" style=\"\" rel=\"noopener\">Processing<\/a> agreed to set up a poultry processing plant with a maximum capacity of 25k chickens per hour. This is in addition to another agreement with China\u2019s <a target=\"_blank\" href=\"http:\/\/en.famsungroup.com\/\" style=\"\" rel=\"noopener\">Famsun Group<\/a> to establish a feed factory with a production capacity of 60 tons per hour. <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/osoulpoultry\/about\/\" style=\"\" rel=\"noopener\">Assir Cooperative Poultry Processing Plant<\/a> also signed an agreement with Canadian firm <a target=\"_blank\" href=\"https:\/\/jamesway.com\/\" style=\"\" rel=\"noopener\">Jamesway<\/a> for a 15k per hour poultry processing plant and local hatcheries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong><\/p>\n<ul>\n<li>Jeddah-based <a target=\"_blank\" href=\"https:\/\/www.radwachicken.com\/home\" style=\"\" rel=\"noopener\">Radwa Chicken<\/a> penned an installation agreement with <a target=\"_blank\" href=\"https:\/\/escoconstructioncompany.com\/\" style=\"\" rel=\"noopener\">Esco<\/a><a target=\"_blank\" href=\"https:\/\/escoconstructioncompany.com\/\" style=\"\" rel=\"noopener\">Construction<\/a> ;<\/li>\n<li>Homegrown <a target=\"_blank\" href=\"https:\/\/cavalotec.com\/\" style=\"\" rel=\"noopener\">Cavalo Contracting<\/a> inked two broiler supply agreements with <a target=\"_blank\" href=\"https:\/\/alnaqaa-qa.com\/pages\/home\" style=\"\" rel=\"noopener\">Al Naqaa<\/a> and <a target=\"_blank\" href=\"https:\/\/www.vdlagrotech.com\/en\/home\" style=\"\" rel=\"noopener\">VDL Agrotech<\/a> for projects in a combined 8 farms, 108 broiler barns;<\/li>\n<li>Assir Cooperative signed three supply and installation agreements with Dutch companies <a target=\"_blank\" href=\"https:\/\/marel.com\/?creative=413889303757&keyword=marel&matchtype=e&network=g&device=c&gad_source=1&gclid=CjwKCAjwl4yyBhAgEiwADSEjeB9q8W2dlOasuX7-IrfHJ_i5ePYlGaUoaS7yRFccNPVtsQu1dBmcTxoCHh0QAvD_BwE\" style=\"\" rel=\"noopener\">Marel Food Technology<\/a> and <a target=\"_blank\" href=\"https:\/\/www.aarsen.com\/en\/\" style=\"\" rel=\"noopener\">Van Aarsen Group<\/a> ; <\/li>\n<li>Riyadh-based <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/abdulmohsen-alsahli-holding\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Abdulmohsen<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/abdulmohsen-alsahli-holding\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Alsahli<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/abdulmohsen-alsahli-holding\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Holding<\/a>, and Chinese company <a target=\"_blank\" href=\"https:\/\/www.made-in-china.com\/showroom\/adelexu\" style=\"\" rel=\"noopener\">Shenzhen IMP<\/a> agreed to locally set up a poultry lighting line and greenhouses;<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/gcshop.sa\/\" style=\"\" rel=\"noopener\">Golden Chicken<\/a> inked a poultry equipment supply agreement with US-based <a target=\"_blank\" href=\"https:\/\/www.choretime.com\/\" style=\"\" rel=\"noopener\">Chore-Time<\/a> and one with Dutch company <a target=\"_blank\" href=\"https:\/\/mavitec.com\/\" style=\"\" rel=\"noopener\">Mavitec<\/a> to develop a solid-waste treatment plant.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/manufacturing\/\">manufacturing<\/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=\"86179\" 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=\"86179\">\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\">AVIATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/airport-passenger-traffic-on-the-rise\/\">\r\n                            Saudi airports\u2019 passenger traffic grew 26% y-o-y to 112 mn passengers 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\/15\/airport-passenger-traffic-on-the-rise\/\" 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\/15\/airport-passenger-traffic-on-the-rise\/')\">\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\/15\/airport-passenger-traffic-on-the-rise\/\">\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=Airport passenger traffic on the rise&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/airport-passenger-traffic-on-the-rise\/\">\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\/15\/airport-passenger-traffic-on-the-rise\/&title=Airport passenger traffic on the rise\">\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=Airport+passenger+traffic+on+the+rise+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F15%2Fairport-passenger-traffic-on-the-rise%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\/15\/airport-passenger-traffic-on-the-rise\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1740.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86180\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/airport-passenger-traffic-on-the-rise\/1740-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1740.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1740.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1740.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1740.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86179\" class=\"content-area-description single-story post-86179 post type-post status-publish format-standard has-post-thumbnail hentry category-aviation tag-air-transport tag-aviation tag-enterpriseam-ksa tag-king-abdulaziz-airport tag-passengers tag-tourism 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\/.2ce71e2c-ccbf-4487-9219-84b67068704a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Passenger traffic at the nation\u2019s airports rose 26% y-o-y to 112 mn <\/strong><strong>passengers in <\/strong><strong>2023<\/strong>, according to data released yesterday by <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1027.pdf\" style=\"\" rel=\"noopener\">government statistics agency Gastat (pdf)<\/a>. International passengers arriving at the Kingdom\u2019s airports rose 46% y-o-y last year to 61 mn passengers, while domestic flight passengers domestic rose 9% y-o-y to 51 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The number of international flights arriving at and departing from airports in the Kingdom <\/strong><strong>grew 36% y-o-y to 394k last year<\/strong>, while the number of domestic flights inched up 2% y-o-y to 421k, according to the report. Local airports saw 62k private international flights and 14k domestic flights during the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growing capacity to handle more: <\/strong>Total capacity across all of Saudi\u2019s airports reached 116 mn passengers annually in 2023. Jeddah\u2019s King Abdulaziz International Airport led the list with a capacity of 45 mn passengers annually, followed by Riyadh\u2019s King Khalid International Airport (37 mn) and Dammam\u2019s King Fahd International Airport (13 mn).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gong for the largest number of global routes went to King Abdulaziz Airport<\/strong>, which had 365, up 20% y-o-y. Madinah\u2019s Prince Mohammed bin Abdulaziz Airport came in second with 258, up 21% y-o-y, followed by King Khalid International Airport (176) and King Fahd International Airport (92).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The government aims to open up its aviation sector to turn it into <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2507926\/business-economy\" style=\"\" rel=\"noopener\">a USD 2 bn<\/a><a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2507926\/business-economy\" style=\"\" rel=\"noopener\">industry<\/a>, and the country is extending air connectivity to a total of <a target=\"_blank\" href=\"https:\/\/gaca.gov.sa\/web\/ar-sa\/news\/translation-of-ar_sa-8-may-2024-_39254\" style=\"\" rel=\"noopener\">250 countries<\/a> by 2030. This also plays into the government\u2019s tourism target, which was more than doubled aiming to lure <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4d43f6ce-8ecc-41b8-8135-0da085f9952c\" style=\"\" rel=\"noopener\">150 mn tourist trips by 2030<\/a>, after hitting an earlier target of 100 mn last year ahead of plan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Keep an eye out for a flurry of aviation news next week:<\/strong> Riyadh is hosting two major, overlapping aviation events: <a target=\"_blank\" href=\"https:\/\/futureaviationforum.com\/en\" style=\"\" rel=\"noopener\">The Future Aviation Forum (FAF)<\/a> \u2014 where investment projects worth USD 100 bn will be up for grabs \u2014 and the <a target=\"_blank\" href=\"https:\/\/www.icao.int\/Meetings\/FAL2024\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">International Civil Aviation Organization\u2019s (ICAO)<\/a> Facilitation 2024 Global Summit. The FAF is set to run from Monday, 20 May, through to Wednesday, 22 May, while the two-day ICAO summit is scheduled for kickoff on Tuesday, 21 May.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/air-transport\/\">Air transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/king-abdulaziz-airport\/\">King Abdulaziz Airport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/passengers\/\">passengers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tourism\/\">tourism<\/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=\"86181\" 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=\"86181\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/self-storage-startup-wheekeep-closes-usd-8-mn-series-a-round\/\">\r\n                            Self-storage startup Wheekeep closes USD 8 mn series A round led by US-based Fintech Collective                        <\/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\/15\/self-storage-startup-wheekeep-closes-usd-8-mn-series-a-round\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/self-storage-startup-wheekeep-closes-usd-8-mn-series-a-round\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/self-storage-startup-wheekeep-closes-usd-8-mn-series-a-round\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Self-storage startup Wheekeep closes USD 8 mn series A round&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/self-storage-startup-wheekeep-closes-usd-8-mn-series-a-round\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/self-storage-startup-wheekeep-closes-usd-8-mn-series-a-round\/&title=Self-storage startup Wheekeep closes USD 8 mn series A round\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Self-storage+startup+Wheekeep+closes+USD+8+mn+series+A+round+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F15%2Fself-storage-startup-wheekeep-closes-usd-8-mn-series-a-round%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/self-storage-startup-wheekeep-closes-usd-8-mn-series-a-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1000.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86182\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/self-storage-startup-wheekeep-closes-usd-8-mn-series-a-round\/1000-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1000.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1000.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1000.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1000.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86181\" class=\"content-area-description single-story post-86181 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam-ksa tag-fintech tag-logistics tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.2ce71e2c-ccbf-4487-9219-84b67068704a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Logistics and self-storage startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/wheekeep.com\/\" style=\"\" rel=\"noopener\">Wheekeep<\/a><\/strong><strong> raised SAR 30 mn (USD 8 mn) <\/strong><strong>in a series <\/strong><strong>A round<\/strong> led by New York-based venture capital firm <a target=\"_blank\" href=\"https:\/\/fintech.io\/\" style=\"\" rel=\"noopener\">Fintech Collective<\/a>, it <a target=\"_blank\" href=\"https:\/\/twitter.com\/WheeKeep\/status\/1790004902229323891\" style=\"\" rel=\"noopener\">said on X<\/a>. Unnamed local and international investors also participated in the round. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds: <\/strong>The funding will finance the company\u2019s short-term growth in the local market, especially in the Eastern and Western regions, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/05\/12\/article_2725521.html\" style=\"\" rel=\"noopener\">Aleqtesadiah<\/a> quotes unnamed company executives as saying. They also have plans for franchising and expansion into the GCC in the medium term, the sources added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we don\u2019t know:<\/strong> There\u2019s no publicly available information on the equity the investors received in return for their investment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s Wheekeep? <\/strong>Founded in 2020, the storage solutions provider caters to individuals and businesses alike by delivering its mobile storage units to their customers\u2019 doorstep to fill up, and then takes them back to their storage facilities. The startup also offers a <a target=\"_blank\" href=\"https:\/\/wheekeep.com\/space-calculator\/\" style=\"\" rel=\"noopener\">space calculator<\/a> to allow customers to gauge exactly how much space they need before delivery. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fintech Collective\u2019s portfolio in the region: <\/strong>The VC participated last year in a <a target=\"_blank\" href=\"https:\/\/waya.media\/qlub-uaes-fintech-startup-raises-25m-in-a-funding-round\/\" style=\"\" rel=\"noopener\">USD 25 mn<\/a><a target=\"_blank\" href=\"https:\/\/waya.media\/qlub-uaes-fintech-startup-raises-25m-in-a-funding-round\/\" style=\"\" rel=\"noopener\">funding round by fintech player Qlub<\/a> which offers in-store payment solutions here, in the UAE, Turkey, Indian, Japan, Australia and Brazil. Fintech Collective also participated in a <a target=\"_blank\" href=\"https:\/\/www.pymnts.com\/news\/investment-tracker\/2022\/dubai-based-fintech-pemo-snags-12m-in-seed-funding\/\" style=\"\" rel=\"noopener\">USD 12 mn seed round<\/a> in 2022 for <a target=\"_blank\" href=\"https:\/\/www.pemo.io\/\" style=\"\" rel=\"noopener\">spend-management platform Pemo<\/a> which is based out of the UAE but also has operations in the Kingdom, Egypt, Kuwait, Bahrain, Oman, and Pakistan. Also part of their <a target=\"_blank\" href=\"https:\/\/fintech.io\/portfolio\" style=\"\" rel=\"noopener\">portfolio<\/a> is the UAE-based peer-to-peer payment app <a target=\"_blank\" href=\"https:\/\/ziina.com\/en\" style=\"\" rel=\"noopener\">Ziina<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> IN OTHER STARTUP NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>500 Global is kicking off the final round of its latest batch of the Sanabil 500 MENA seed<\/strong><strong> accelerator<\/strong> in partnership with PIF-owned <a target=\"_blank\" href=\"https:\/\/www.sanabil.com\/en\/home\" style=\"\" rel=\"noopener\">Sanabil Investments<\/a>, it said in a <a target=\"_blank\" href=\"https:\/\/www.businesswire.com\/news\/home\/20240514562505\/en\" style=\"\" rel=\"noopener\">press release<\/a>. The accelerator supports pre-seed and seed-stage startups that scale up through a 12-week mentorship program that focuses on \u201cbusiness strategy development, fundraising, and growth.\u201d It also offers equity investment of more than USD 100k to selected startups. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The final stage will culminate in a demo day slated for <\/strong><strong>Wednesday, 29 May<\/strong>, at the Four Seasons Hotel, Riyadh, and will feature seven finalists. <a target=\"_blank\" href=\"https:\/\/500.co\/accelerators\/sanabil-mena-seed-accelerator\" style=\"\" rel=\"noopener\">Applications for the next batch are now open<\/a> and will close on 6 August. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meet the finalists: <\/strong>Saudi startups include <a target=\"_blank\" href=\"https:\/\/agileloop.ai\/\" style=\"\" rel=\"noopener\">Agile Loop<\/a>, <a target=\"_blank\" href=\"https:\/\/www.doos.sa\/\" style=\"\" rel=\"noopener\">Doos<\/a>, <a target=\"_blank\" href=\"https:\/\/fai.sa\/\" style=\"\" rel=\"noopener\">Fai<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.sweply.com\/\" style=\"\" rel=\"noopener\">Sweply<\/a>. Meanwhile, hailing from UAE are <a target=\"_blank\" href=\"https:\/\/comfi.ai\/\" style=\"\" rel=\"noopener\">Comfi<\/a>, <a target=\"_blank\" href=\"https:\/\/metricapp.ai\/\" style=\"\" rel=\"noopener\">Metric<\/a>, <a target=\"_blank\" href=\"https:\/\/weareocta.com\/\" style=\"\" rel=\"noopener\">Octa<\/a>, <a target=\"_blank\" href=\"https:\/\/poultrysync-ai.webflow.io\/\" style=\"\" rel=\"noopener\">Poultry Sync<\/a>, <a target=\"_blank\" href=\"https:\/\/www.renohome.ae\/\" style=\"\" rel=\"noopener\">Reno<\/a>, and <a target=\"_blank\" href=\"https:\/\/sav.money\/\" style=\"\" rel=\"noopener\">Sav<\/a>. <a target=\"_blank\" href=\"https:\/\/mlnetworks.io\/\" style=\"\" rel=\"noopener\">MLNetworks<\/a> is from Morocco and <a target=\"_blank\" href=\"https:\/\/desertfarms.com\/\" style=\"\" rel=\"noopener\">Desert Farms<\/a> from the US. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86183\" 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=\"86183\">\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\">E-COMMERCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/online-shopping-in-saudi-has-seen-staggering-growth-since-pandemic\/\">\r\n                            Some 2.6 mn Saudi shoppers made at least one online purchase                        <\/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\/15\/online-shopping-in-saudi-has-seen-staggering-growth-since-pandemic\/\" 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\/15\/online-shopping-in-saudi-has-seen-staggering-growth-since-pandemic\/')\">\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\/15\/online-shopping-in-saudi-has-seen-staggering-growth-since-pandemic\/\">\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=Online shopping in Saudi has seen \u201cstaggering\u201d growth since pandemic&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/online-shopping-in-saudi-has-seen-staggering-growth-since-pandemic\/\">\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\/15\/online-shopping-in-saudi-has-seen-staggering-growth-since-pandemic\/&title=Online shopping in Saudi has seen \u201cstaggering\u201d growth since pandemic\">\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=Online+shopping+in+Saudi+has+seen+%E2%80%9Cstaggering%E2%80%9D+growth+since+pandemic+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F15%2Fonline-shopping-in-saudi-has-seen-staggering-growth-since-pandemic%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\/15\/online-shopping-in-saudi-has-seen-staggering-growth-since-pandemic\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1113.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86184\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/online-shopping-in-saudi-has-seen-staggering-growth-since-pandemic\/1113-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1113.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1113.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1113.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1113.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86183\" class=\"content-area-description single-story post-86183 post type-post status-publish format-standard has-post-thumbnail hentry category-e-commerce tag-e-commerce tag-enterpriseam-ksa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.2ce71e2c-ccbf-4487-9219-84b67068704a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Some 2.6 mn Saudi shoppers make online purchases at least once per day&nbsp;<\/strong>as the boom in the Kingdom\u2019s e-commerce industry continues, according to Checkout.com\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1037.pdf\" style=\"\" rel=\"noopener\">State of Digital Commerce in MENA 2024 report (pdf)<\/a>. Saudi Arabia is seeing \u201cstaggering\u201d growth in online shopping with the number of Saudi consumers shopping online daily growing 90% in the past four years, according to the report. This is 10 percentage points above the regional average, according to the report. The growth rate of Saudi shoppers online jumps to 180% when measured weekly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The methodology<\/strong><strong>: <\/strong>Global payment service provider <a target=\"_blank\" href=\"http:\/\/checkout.com\" style=\"\" rel=\"noopener\">Checkout.com<\/a> and British market research firm <a target=\"_blank\" href=\"https:\/\/yougov.co.uk\/\" style=\"\" rel=\"noopener\">YouGov<\/a> collected and analyzed data on the region over the past four years. The report analyzes data from 19k consumers across Saudi, UAE, Kuwait, Qatar, Bahrain and Egypt. Surveys for the latest report were conducted in September 2023, covering the first half of 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Spend, spend, spend: <\/strong>Online shoppers from the region expect even more online spending in the future with 54% of Saudi consumers anticipating an increase in their e-commerce engagement, followed closely by Kuwait at 53%. Some of that engagement will likely be directed abroad with 34% of Saudi shoppers citing cross-border transactions as a leading incentive for e-commerce shopping. Saudi leads the region in terms of cross-border transactions in absolute value, but comes fourth in terms of consumers percentage after Qatar, Kuwait and Bahrain.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cashless is the way to go: <\/strong>Preference for cash on delivery has more than halved in the region from 41% in 2020 to 20%, the report showed. Only 10% of shoppers in Saudi, Kuwait, and UAE opt for cash when making online purchases, it said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/e-commerce\/\">e-commerce<\/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=\"86185\" 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=\"86185\">\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\">CABINET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/cabinet-gives-the-go-ahead-for-mou-with-us-department-of-justice\/\">\r\n                            Cabinet gives the go-ahead for MoU with US Department of Justice                        <\/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\/15\/cabinet-gives-the-go-ahead-for-mou-with-us-department-of-justice\/\" 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\/15\/cabinet-gives-the-go-ahead-for-mou-with-us-department-of-justice\/')\">\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\/15\/cabinet-gives-the-go-ahead-for-mou-with-us-department-of-justice\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Cabinet gives the go-ahead for MoU with US Department of Justice&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/cabinet-gives-the-go-ahead-for-mou-with-us-department-of-justice\/\">\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\/15\/cabinet-gives-the-go-ahead-for-mou-with-us-department-of-justice\/&title=Cabinet gives the go-ahead for MoU with US Department of Justice\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Cabinet+gives+the+go-ahead+for+MoU+with+US+Department+of+Justice+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F15%2Fcabinet-gives-the-go-ahead-for-mou-with-us-department-of-justice%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\/15\/cabinet-gives-the-go-ahead-for-mou-with-us-department-of-justice\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/485.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86186\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/cabinet-gives-the-go-ahead-for-mou-with-us-department-of-justice\/485-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/485.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"485.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/485.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/485.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86185\" class=\"content-area-description single-story post-86185 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-enterpriseam-ksa tag-legislation-watch tag-regulation-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.2ce71e2c-ccbf-4487-9219-84b67068704a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cabinet mandated the Interior Ministry to discuss and sign a cooperation agreement with <\/strong><strong>the US Department of Justice on exchanging criminal information<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2102624\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. No further details were disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ministers also approved an amendment restructuring the <\/strong><strong>National Authority to Implement <\/strong><strong>Conventions on the Prohibition of Chemical and Biological Weapons <\/strong>to be chaired by the Foreign Ministry. The authority\u2019s board will include representatives of a number of entities, the Cabinet said, without providing further details.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong>The government\u2019s <strong>State Properties General Authority<\/strong> (SPGA) has gotten cabinet approval to allocate state property to the non-oil sector under rules approved by the authority\u2019s board. No further details were provided. The SPGA was formed by the Cabinet in 2018 to help \u201coptimize the use of state properties and transform the government's properties into developmental and economic opportunities.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also approved at yesterday\u2019s Cabinet meeting: <\/strong><\/p>\n<ul>\n<li>Two separate agreements on <strong>mutual exemptions<\/strong> of <strong>visa requirements <\/strong>for holders of diplomatic, service and special passports with<strong> Costa Rica<\/strong> and <strong>Malta<\/strong>;<\/li>\n<li>An agreement with <strong>Slovakia<\/strong> to avoid <strong>double taxation<\/strong> and prevent <strong>tax evasion<\/strong>;<\/li>\n<li>Mandating the Industry and Mineral Resources Minister to discuss and sign a MoU with <strong>Vietnam<\/strong> on <strong>mineral resources<\/strong>.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cabinet-watch\/\">CABINET WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/legislation-watch\/\">LEGISLATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86187\" 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=\"86187\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/lazurde-ceo-resigns\/\">\r\n                            L'azurde CEO resigns                        <\/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\/15\/lazurde-ceo-resigns\/\" 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\/15\/lazurde-ceo-resigns\/')\">\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\/15\/lazurde-ceo-resigns\/\">\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=L'azurde CEO resigns&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/lazurde-ceo-resigns\/\">\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\/15\/lazurde-ceo-resigns\/&title=L'azurde CEO resigns\">\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=L%27azurde+CEO+resigns+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F15%2Flazurde-ceo-resigns%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\/15\/lazurde-ceo-resigns\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1101.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86188\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/lazurde-ceo-resigns\/1101-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1101.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1101.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1101.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1101.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86187\" class=\"content-area-description single-story post-86187 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-ksa tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.2ce71e2c-ccbf-4487-9219-84b67068704a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The CEO of Tadawul-listed jewelry maker L\u2019azurde, S\u00e9lim Chidiac (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/s%C3%A9lim-chidiac\/?original_referer=https%3A%2F%2Fwww%2Egoogle%2Ecom%2F&amp;originalSubdomain=sa\" style=\"\" rel=\"noopener\">Linkedin<\/a><\/strong><strong>), resigned&nbsp;<\/strong>due to \u201cpersonal reasons,\u201d L\u2019azurde 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-oyMTA0FA_ODVPvyA3NMIgMyA3XNdREQDANSiC\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDA0Mi9jb21wYW55U3ltYm9sLzQwMTEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Chidiac will continue in his role for six months before ending his 14-year tenure at the company. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86189\" 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=\"86189\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/boxing-drama-outside-the-ring\/\">\r\n                            Drama ahead of Usyk-Fury boxing match makes the rounds                        <\/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\/15\/boxing-drama-outside-the-ring\/\" 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\/15\/boxing-drama-outside-the-ring\/')\">\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\/15\/boxing-drama-outside-the-ring\/\">\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=Boxing drama outside the ring&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/boxing-drama-outside-the-ring\/\">\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\/15\/boxing-drama-outside-the-ring\/&title=Boxing drama outside the ring\">\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=Boxing+drama+outside+the+ring+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F15%2Fboxing-drama-outside-the-ring%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\/15\/boxing-drama-outside-the-ring\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1099.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86190\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/boxing-drama-outside-the-ring\/1099-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1099.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1099.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1099.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1099.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86189\" class=\"content-area-description single-story post-86189 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-enterpriseam-ksa tag-qiddiya 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\/.2ce71e2c-ccbf-4487-9219-84b67068704a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The long-anticipated Usyk-Fury boxing match is dominating coverage of Saudi in the <\/strong><strong>foreign press this morning<\/strong>, but with Fury Senior grabbing the spotlight this time after he headbutted someone from the Usyk camp, leaving him with a bloody gash on his forehead. If there are no further delays, the heavyweight fight will happen at The Kingdom Arena in Riyadh this coming Saturday, 18 May. (<a target=\"_blank\" href=\"https:\/\/www.thesun.co.uk\/sport\/27891248\/john-fury-bleeding-tyson-fury-oleksandr-usyks-camps-clash\/\" style=\"\" rel=\"noopener\">The Sun<\/a> | <a target=\"_blank\" href=\"https:\/\/www.dailymail.co.uk\/sport\/boxing\/article-13413109\/John-Fury-headbutt-Oleksandr-Usyk-Riyadh.html\" style=\"\" rel=\"noopener\">Dailymail<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/sport\/boxing\/articles\/c1ejjz99k7wo\" style=\"\" rel=\"noopener\">BBC Sport<\/a> | <a target=\"_blank\" href=\"https:\/\/www.skysports.com\/boxing\/news\/30778\/13126510\/oleksandr-usyk-s-promoter-praying-tyson-fury-avoids-injury-ahead-of-undisputed-heavyweight-title-showdown\" style=\"\" rel=\"noopener\">Sky Sports<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The Financial Times has joined the \u201cSaudi is pacing out the gigaprojects\u201d bandwagon. <\/strong>Bloomberg has been setting the tone for the rest of the global business press with its reports that officials at Neom may be scaling back their ambitions. Read: <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f895c60a-8a36-4552-ba76-7a7ca0fec719\" style=\"\" rel=\"noopener\">Saudi Arabia grapples with tough choices over cost of flagship projects<\/a>, which was out just as Saudi Great Futures \u2014 the UK-Saudi business forum \u2014 got underway yesterday morning.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> Qiddiya Investment Company adding PIF-owned Saudi Entertainment Ventures (Seven) to its portfolio is getting ink from <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/desert-ventures-merger-with-entertainment-firm-latest-test-saudi-arabia-ambition-2024-05-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/qiddiya\/\">Qiddiya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86191\" 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=\"86191\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/svc-invests-in-general-atlantic-fund-plus-telecoms-financial-services-and-earnings\/\">\r\n                            SVC invests in General Atlantic fund. Plus: Telecoms, financial services and earnings                        <\/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\/15\/svc-invests-in-general-atlantic-fund-plus-telecoms-financial-services-and-earnings\/\" 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\/15\/svc-invests-in-general-atlantic-fund-plus-telecoms-financial-services-and-earnings\/')\">\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\/15\/svc-invests-in-general-atlantic-fund-plus-telecoms-financial-services-and-earnings\/\">\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=SVC invests in General Atlantic fund. Plus: Telecoms, financial services and earnings&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/svc-invests-in-general-atlantic-fund-plus-telecoms-financial-services-and-earnings\/\">\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\/15\/svc-invests-in-general-atlantic-fund-plus-telecoms-financial-services-and-earnings\/&title=SVC invests in General Atlantic fund. Plus: Telecoms, financial services and earnings\">\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=SVC+invests+in+General+Atlantic+fund.+Plus%3A+Telecoms%2C+financial+services+and+earnings+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F15%2Fsvc-invests-in-general-atlantic-fund-plus-telecoms-financial-services-and-earnings%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\/15\/svc-invests-in-general-atlantic-fund-plus-telecoms-financial-services-and-earnings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1107.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86192\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/svc-invests-in-general-atlantic-fund-plus-telecoms-financial-services-and-earnings\/1107-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1107.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1107.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1107.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1107.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86191\" class=\"content-area-description single-story post-86191 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-al-rajhi-bank tag-also-on-our-radar tag-arabian-pipes tag-aramco tag-debt-watch tag-earnings-watch tag-enterpriseam-ksa tag-financial-services tag-general-atlantic tag-healthcare tag-investment-watch tag-itqan-capital tag-petro-rabigh tag-qsalary tag-saudi-venture-capital-svc tag-zain-ksa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.2ce71e2c-ccbf-4487-9219-84b67068704a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INVESTMENT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Venture Capital (SVC) has made a SAR 112.5 mn investment in a <\/strong><strong>fund managed by US-based private equity giant General Atlantic<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2102629\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reports. The fund will focus on high-growth firms operating in technology, life sciences, healthcare, financial services, and consumer products, which \u201caligns with [SVC\u2019s] strategy to attract leading global fund managers to invest in Saudi companies and stimulate investment in later stages,\u201d CEO Nabeel Koshak said. 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>SPEAKING OF WHICH- General Atlantic plans to open offices in the Gulf<\/strong> as it looks to plant deeper roots in the Middle East, where it has been investing since 2015, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-14\/general-atlantic-to-deepen-mideast-push-with-regional-offices\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported, citing statements by General Atlantic\u2019s Global Head of Capital Solutions Chris Kojima during the Qatar Economic Forum. \u201cCertainly in Qatar, Saudi Arabia, and the United Arab Emirates we are seeing government policies incredibly supportive, political dynamics very stable and capital market formation encouraging,\u201d Kojima said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- General Atlantic said earlier this year it was acquiring our friends at <\/strong><strong>Actis<\/strong>, the emerging markets PE giant, with a view to creating a USD 96 bn asset manager. Actis will become General Atlantic\u2019s sustainable infrastructure arm and will retain its name and ability to make its own decisions on where it deploys capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zain KSA secured two financing facilities from Al Rajhi Bank<\/strong>, including a 10-year vendor financing facility worth up to SAR 1.13 bn for upgrading the company\u2019s network infrastructure, 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\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzcwMzAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMDM2\/\" style=\"\" rel=\"noopener\">disclosure on Tadawul<\/a>. The second loan is a one-year revolving receivables discounting facility worth up to SAR 500 mn, which will go towards boosting the telecom company\u2019s working capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FINANCIAL SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asfa Ventures\u2019 fintech arm Qsalary and Itqan Capital launched a SAR 300 mn <\/strong><strong>investment <\/strong><strong>fund<\/strong> aimed at providing innovative financial solutions to streamline salary payments and the management of administrative expenses associated with payroll processing for investors seeking growth, it said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/qsalary_qsalary-aeraeyaewaebaepaesaepaezaey-activity-7194239984424361985-v0GX?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">post on LinkedIn<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>International Medical Supplies \u2014 a unit of Arabian International Healthcare Holding <\/strong><strong>(Tibbiyah) \u2014 was awarded a SAR 87 mn contract<\/strong> from the National Guard Ministry to provide orthopedic and spine consumables, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzk1MzAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMDM0\/\" style=\"\" rel=\"noopener\">a filing to the exchange<\/a>. The contract is yet to be signed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arabian Pipes will supply steel pipes to Aramco <\/strong>after signing a 10-month, SAR 107 mncontract, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzIyMDAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMDQw\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EARNINGS WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Petro Rabigh<\/strong><strong> extended its net losses by 41.6% y-o-y to SAR 1.4 bn <\/strong><strong>in 1Q 2024<\/strong> on the back of lower sales volumes resulting from an unplanned shutdown of a number of its refinery conversion units, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/mrn9kcvk\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. Meanwhile, revenues fell 27.3% y-o-y over the same period to c. SAR 8 bn. Petro Rabigh is a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/petrorabighco\/\" style=\"\" rel=\"noopener\">joint venture<\/a> between Aramco and Japan\u2019s Sumitomo Chemical.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-rajhi-bank\/\">Al Rajhi 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\/arabian-pipes\/\">Arabian Pipes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/general-atlantic\/\">General Atlantic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/itqan-capital\/\">Itqan Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/petro-rabigh\/\">Petro Rabigh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/qsalary\/\">Qsalary<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-venture-capital-svc\/\">Saudi Venture Capital (SVC)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/zain-ksa\/\">Zain KSA<\/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=\"86193\" 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=\"86193\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/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\/15\/us-quadruples-tariffs-on-chinese-evs-to-100\/\">\r\n                            US quadruples tariffs on Chinese EVs to 100%                        <\/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\/15\/us-quadruples-tariffs-on-chinese-evs-to-100\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/15\/us-quadruples-tariffs-on-chinese-evs-to-100\/1078-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1078.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1078.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1078.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1078.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86193\" class=\"content-area-description single-story post-86193 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-china tag-enterpriseam-ksa tag-financial-markets tag-planet-finance tag-trade 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\/.2ce71e2c-ccbf-4487-9219-84b67068704a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The US has gone on the offensive in the trade war with China<\/strong>, with the White House yesterday <a target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2024\/05\/14\/fact-sheet-president-biden-takes-action-to-protect-american-workers-and-businesses-from-chinas-unfair-trade-practices\/\" style=\"\" rel=\"noopener\">announcing<\/a> a raft of tariff increases on USD 18 bn worth of Chinese imports that will each begin taking effect between 2024 and 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Biden has his eyes set on green tech<\/strong>, deciding thattariffs on Chinese EVs will <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/972cabfb-f587-4cb3-ab21-ec3380b049da\" style=\"\" rel=\"noopener\">quadruple<\/a> to 100%, those on lithium-ion EV batteries to more than triple to 25%, those on solar cells to double to 50%. <strong>And he hasn\u2019t forgotten about semiconductors<\/strong>, as tariffs on chips from the world\u2019s second biggest economy are set to double to 50%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Biden\u2019s tough talk seems to be directed to US voters as much as it does to China<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-14\/biden-imposes-sweeping-tariffs-on-chinese-chips-minerals-evs?srnd=homepage-middle-east&embedded-checkout=true\" style=\"\" rel=\"noopener\">warning<\/a> the world\u2019s factory yesterday that \u201cwhen you make tactics like this, you\u2019re not competing, it\u2019s not competition, it\u2019s cheating. And we\u2019ve seen damage here in America\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=83j7_BSIVgs\" style=\"\" rel=\"noopener\">watch, runtime: 22:30<\/a>). The US is a minor market for Chinese EVs today. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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>YOU HAVE TO LOVE IT- Evli Emerging Frontier Fund has beaten 99% of its peers over the <\/strong><strong>past five years. <\/strong>Its next big thing? small-cap stocks, this time in Turkey. An ambitious fund manager that\u2019s building a story about a great segment of the economy in a country that has plenty of challenges \u2014 and tons of potential? What\u2019s not to like? <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-14\/emerging-market-fund-with-30-return-bets-on-turkish-small-caps\" style=\"\" rel=\"noopener\">Bloomberg<\/a> has more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- BlackRock is making its presence felt in the crypto space<\/strong> after <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3b80713e-41d1-4965-900e-4bb37b1dbc2c\" style=\"\" rel=\"noopener\">building up USD<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3b80713e-41d1-4965-900e-4bb37b1dbc2c\" style=\"\" rel=\"noopener\">16.7 bn in assets<\/a> since the launch of its crypto exchange-traded fund (ETF) in January 2024. Despite initial reluctance to move into crypto \u2014 which CEO Larry Fink <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2017\/10\/13\/blackrock-ceo-larry-fink-calls-bitcoin-an-index-of-money-laundering.html\" style=\"\" rel=\"noopener\">called<\/a> \u201can index of money laundering\u201d in 2017 \u2014 BlackRock is now the second-largest BTC fund after market leader Grayscale. The asset manager has also rolled out a crypto treasury fund that is already being used by hedge funds and money markets to source collateral for crypto trades.<\/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>It\u2019s a mixed morning in Asia: <\/strong>The Shanghai Composite is down, the Nikkei is up, and markets in both Hong Kong and South Korea are closed in observance of Buddha\u2019s birthday. Futures suggest European and US markets will open in the green later today as traders wait for a key US consumer price report later today.<\/p>\n<p><a target=\"_blank\" id=\"t.667ba3d28e80c3172f15e8531b42f691786fd4a1\" 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<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,120<\/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\">-1.1% (YTD: +1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,519<\/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\">-1.1% (YTD: -2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,659<\/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% (YTD: +8.7%)<\/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\">USD 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\">USD 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\">6.5% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">25,339<\/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: +1.8%)<\/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>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\">9,058<\/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: \u20135.4%)<\/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>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\">4,136<\/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: +1.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&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\">5,247<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +10.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,428<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +9.0%)<\/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>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\">5,080<\/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: +12.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 82.38<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.34<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,363<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 61,595<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.1% (YTD: +45.9%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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 <\/strong>fell 1.1% <strong>yesterday <\/strong>on turnover of SAR 7.3 bn. The index is up 1.3% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Al Jouf (+7.6%), BCI (+7.4%) and Al Babtain (+3.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Saptco (-9.9%), 2P (-9.9%) and Medgulf (-9.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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> fell -0.8% <strong>yesterday <\/strong>on turnover of SAR 30.3 mn. The index is up 8.7% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Al Qemam (+4..7%), Mayar (+4.6%) and Nofoth (+4.5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Tam Development (-10%), AZM (-7.1%) and Rawasi (-6.9%)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Capital Market Authority has cleared Saudi Ceramic to raise its capital by 25% to<\/strong><strong>SAR 1 bn<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3550.aspx\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The capital increase will see the transfer of SAR 200 mn from the company\u2019s retained earnings to the company\u2019s capital. This will bring Saudi Ceramic\u2019s total shares up to 100 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The authority also gave Riyadh Steel the green light to increase its capital by 40% to SAR<\/strong><strong> 70 mn<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3549.aspx\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The capital increase will be executed through the transfer of SAR 20 mn from the company\u2019s retained earnings to its capital. This will bring the steel maker\u2019s total shares up to 7 mn shares.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trade\/\">trade<\/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=\"86195\" 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\/15\/86195\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86195\" class=\"content-area-description single-story post-86195 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>29 May (Wednesday): Sanabil 500 MENA seed accelerator demo day, Four Seasons Hotel, <\/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: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>1 June (Saturday): OPEC+ meeting.<\/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\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>Fakeeh prices IPO | GCC-China trade talks foundering? | UK spotlight | Jake Sullivan inbound | Wheekeep series A | So. Much. Chicken.<\/p>\n","protected":false},"featured_media":86167,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-86166","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"6e394d6b-8125-4969-9216-da471be371fa","teaser":"Fakeeh prices IPO | GCC-China trade talks foundering? | UK spotlight | Jake Sullivan inbound | Wheekeep series A | So. Much. Chicken.","photo_url":"https:\/\/ent.news\/2024\/5\/1134.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>Gigaprojects can\u2019t be allowed to \u201coverheat\u201d economy \u2013Al Jadaan - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/gigaprojects-cant-be-allowed-to-overheat-economy-al-jadaan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gigaprojects can\u2019t be allowed to \u201coverheat\u201d economy \u2013Al Jadaan\" \/>\n<meta property=\"og:description\" content=\"Fakeeh prices IPO | GCC-China trade talks foundering? | UK spotlight | Jake Sullivan inbound | Wheekeep series A | So. Much. 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