{"id":86360,"date":"2024-05-21T00:00:00","date_gmt":"2024-05-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=86360"},"modified":"2025-12-14T18:09:30","modified_gmt":"2025-12-14T18:09:30","slug":"saudia-places-record-order-with-airbus","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/saudia-places-record-order-with-airbus\/","title":{"rendered":"Saudia places record order with Airbus"},"content":{"rendered":"<section id=\"86362\" 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=\"86362\">\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\/21\/crown-prince-postpones-japan-trip-as-king-salman-receives-medical-treatment\/\">\r\n                            THIS MORNING: Crown Prince postpones Japan trip as King Salman receives medical treatment                        <\/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\/21\/crown-prince-postpones-japan-trip-as-king-salman-receives-medical-treatment\/\" 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 big headline: Airbus just landed Saudi Arabia\u2019s largest-ever aircraft order. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The conference continues today<\/strong>, and we have the rundown on everything you need to know at the head of this morning\u2019s news well, below. It overlaps with the <strong>International Civil Aviation Organization\u2019s Facilitation 2024 Global Summit<\/strong> and with the <strong><a target=\"_blank\" href=\"https:\/\/waga-aci.expoplatform.com\/\" style=\"\" rel=\"noopener\">annual conference<\/a><\/strong><strong> 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\">WA<\/a><a target=\"_blank\" href=\"https:\/\/aci.aero\/events\/aci-asia-pacific-aci-world-annual-general-assembly-conference-and-exhibition-waga\/\" style=\"\" rel=\"noopener\">GA<\/a> \u2014 which runs through Thursday, 23 May. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT FIRST- Crown Prince Mohammed bin Salman postponed yesterday a four-day <\/strong><strong>official <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/7cceb387-1b1a-41c3-9e69-2304b64aa5e7\/saudi-manpower-prices-ipo-at-top-of-the-range#:~:text=%232%2D%20It%E2%80%99s%20a%20big%20week%20for%20relations%20with%20Japan%3A%20Crown%20Prince%20and%20Prime%20Minister\" style=\"\" rel=\"noopener\">visit<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/7cceb387-1b1a-41c3-9e69-2304b64aa5e7\/saudi-manpower-prices-ipo-at-top-of-the-range#:~:text=%232%2D%20It%E2%80%99s%20a%20big%20week%20for%20relations%20with%20Japan%3A%20Crown%20Prince%20and%20Prime%20Minister\" style=\"\" rel=\"noopener\">to Japan<\/a><\/strong><strong>. <\/strong>A senior Japanese official <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-king-undergo-tests-due-high-fever-state-news-agency-says-2024-05-19\/\" style=\"\" rel=\"noopener\">said at a press conference<\/a> that the postponement was \u201cdue to the health of King Salman,\u201d who is being treated at Jeddah\u2019s Al Salam Royal Palace for inflammation in the lungs. The Crown Prince was due to lead a business delegation to discuss investment and climate tech, as well as gaming and esports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other talks with Japan are going ahead as scheduled:<\/strong> The Economic Cities and Special Zones Authority (Ecza) is in Japan as part of the Kingdom\u2019s trade mission, where Ecza officials are pitching Japanese investors on incentives in specialized economic zones in Saudi, <a target=\"_blank\" href=\"https:\/\/x.com\/ECZA_GOV\/status\/1791877228722036742\" style=\"\" rel=\"noopener\">Ecza said on X<\/a>. \u201cSectors benefiting from tailored support and streamlined access include manufacturing, logistics, and technology,\u201d Ecza said. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The Global Supply Chain Forum gets underway in Barbados today<\/strong>, with Mawani <a target=\"_blank\" href=\"https:\/\/x.com\/MawaniKSA\/status\/1792513062995427343\" style=\"\" rel=\"noopener\">set<\/a><a target=\"_blank\" href=\"https:\/\/x.com\/MawaniKSA\/status\/1792513062995427343\" style=\"\" rel=\"noopener\">to participate<\/a>. The UNCTAD-organized forum, which wraps on Friday, will discuss current and future supply chain challenges. The event will be livestreamed <a target=\"_blank\" href=\"https:\/\/unctad.org\/conference\/global-supply-chain-forum-2024\" 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>WEATHER- Riyadh<\/strong>\u2019s skies will be sunny with a daytime high of 41\u00b0C and a low of 28\u00b0C, with similar forecasts for <strong>Jeddah<\/strong> with a high of 38\u00b0C and a low of 29\u00b0C. <strong>Makkah<\/strong> might be seeing thunderstorms with a high of 45\u00b0C and a low of 31\u00b0C.<\/p>\n<p class=\"tag-border-left\">DATA POINT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>The Kingdom\u2019s e-commerce market is expected to be worth USD 44 bn by 2030, <\/strong><strong>up from USD 21 bn today<\/strong>, economic analyst Mohammed Al Qahtani told <a target=\"_blank\" href=\"https:\/\/english.aawsat.com\/business\/5022504-saudi-e-commerce-set-reach-44-bln-2030\" style=\"\" rel=\"noopener\">Asharq Al Awsat<\/a>. Al Qahtani sees the sector growing by 13.5% annually, beating a global average of 11.2%, as digital infrastructure and e-commerce are a key pillar of the Kingdom\u2019s diversification efforts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- E-commerce is booming:<\/strong> Some 2.6 mn Saudi shoppers <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/75a0937e-e67a-4b15-bc7f-df3a4a987992\" style=\"\" rel=\"noopener\">make online<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/75a0937e-e67a-4b15-bc7f-df3a4a987992\" style=\"\" rel=\"noopener\">purchases<\/a> at least once per day, according to Checkout.com\u2019s State of Digital Commerce in MENA 2024 report. 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, 10 percentage points above the regional average.<\/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>Saudi crude exports hit a nine-month high <\/strong>after exports rose for a second consecutive month in March to 6.4 mn barrels per day (bbl \/ d), according to <a target=\"_blank\" href=\"https:\/\/www.jodidata.org\/oil\/database\/customisable-charts.aspx#dchart1821\" style=\"\" rel=\"noopener\">Joint Organizations<\/a><a target=\"_blank\" href=\"https:\/\/www.jodidata.org\/oil\/database\/customisable-charts.aspx#dchart1821\" style=\"\" rel=\"noopener\">Data Initiative data<\/a>. However, crude production dipped slightly m-o-m to 8.97 mn bbl \/ d. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>OPEC+ meets on 1 June to decide on whether to extend voluntary oil cuts into the second half of the year. The oil cartel kept earlier this month its forecast for a strong global oil demand this year \u201cbroadly unchanged.\u201d It expects oil demand to grow by 2.25 mn bbl \/ d this year and 1.85 mn bbl \/ d next year. <\/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=\"wwtt4\"><\/a> <strong>#1- Egypt-born mass transit app Swvl could be expanding its footprint here under <\/strong><strong>an <\/strong><strong>expansion push in the GCC<\/strong> that also includes the UAE, CEO and founder Mostafa Kandil told <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/41aa8140-2ecb-42c1-80a0-6d9d157e87f3\/\" style=\"\" rel=\"noopener\">EnterpriseAM UAE<\/a>. Kandil discussed the Dubai-headquartered company\u2019s turnaround, its strategy for ensuring profitability, and future expansion plans. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Saudi is currently Swvl\u2019s only operational market outside Egypt, contributing some USD 1.9 mn to the app\u2019s revenues in 2023 to account for 4.55% of its top line, according to the startup\u2019s <a target=\"_blank\" href=\"https:\/\/investors.swvl.com\/node\/8261\/html\" style=\"\" rel=\"noopener\">financials<\/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- Riyadh will be home to the permanent headquarters of the Council of Arab Ministers <\/strong><strong>for Cybersecurity<\/strong> after the Arab League Summit ratified the council\u2019s statute in Manama last week, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2107389\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported. Under the regulations, the council will work under the umbrella of the Arab League and will have a secretariat and an executive office in Saudi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Scope of work: <\/strong>The council will be tasked with outlining policy and strategies to develop joint Arab work in cybersecurity and bolster related initiatives and programs. <\/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- D<\/strong><strong>erivative contracts expiring next month will expire on Thursday, 13 June \u2014 a week <\/strong><strong>earlier than their previously set expiration date<\/strong> \u2014 to account for the Eid Al Adha holiday, Tadawul said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details\/!ut\/p\/z1\/tVPLVsIwEP0WF12WTN_VXXxVPEUs5WG76QkhlGqb1BKpn28AF8AB0YVZzZ3cyTzuBKXoBaWcrIqcyEJwUiqcpG7mYBfMBx_6wTA0IBp7oT-OhgZ0bTRGKUopl7VcoESSGWk_yoxxDZZE_4Ybu24KypaEzwo-Y8raODlrt0ZFmjcmt5DKHaibYNrgmKATzs11rlJQUjKUML5GNS1mKDGmHoW5Yeg2Y0S3XZvovu1QHWyTUsu8dDyw0WS_Fb8XuBA94ahveg4EY0Dpz50exEP87EB0_9yzQhhAAO7v4uHEwWfzx6rjRL3hnSRhlWRVsBaNuGgqpV78xxEp9uSml0Wju4HKtDPpB0CP5-pTq1K8vr-nWO2D4JJ9SvTy7wsxWde8W1cfX3pKlsfroBtiy3e9Q8IR3fcJR4TdEH5QTs0mL8V0-18wn1p-jtKGzVnDms5Ho9wLKevllQYatG3byYXIS9ahotLgWMhCLNXw9pmorirfqvTRSF0MWZLdhvO4--qUqxBffAEnJR4F\/dz\/d5\/L2dBISEvZ0FBIS9nQSEh\/?locale=en\" style=\"\" rel=\"noopener\">statement<\/a>. Tadawul will be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/7cceb387-1b1a-41c3-9e69-2304b64aa5e7\" style=\"\" rel=\"noopener\">closed for Eid Al Adha<\/a> from Friday, 14 June until Saturday 22 June. Trading on the stock market will resume on Sunday, 23 June.<\/p>\n<p class=\"tag-border-left\">PSA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Businesses whose activities are subject to VAT, and that have annual revenues <\/strong><strong>exceeding SAR 40 mn, have until Friday, 31 <\/strong><strong>May to submit their tax returns for April 2024<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/ar\/MediaCenter\/News\/Pages\/news_1240.aspx\" style=\"\" rel=\"noopener\">statement<\/a> by the Zakat, Tax, and Customs Authority (Zatca). Non-complying businesses will face fines ranging from 5% to 25% of the tax owed.<\/p>\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You can now book your tickets for the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ufc.com\/news\/middleweight-contenders-robert-whittaker-and-khamzat-chimaev-collide-ufcs-debut-event-saudi\" style=\"\" rel=\"noopener\">UFC clash<\/a><\/strong><strong> between middleweight contenders&nbsp;<\/strong><strong>Robert Whittaker<\/strong><strong> and Khamzat Chimaev in Riyadh\u2019s Kingdom Arena<\/strong> on Saturday, 22 June. The event is the first taking place under a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6a9aab53-0c95-4db8-be7f-3bbc38a55e4a\" style=\"\" rel=\"noopener\">recently extended partnership<\/a> between Riyadh Season and the UFC. Book your tickets for the inaugural event <a target=\"_blank\" href=\"https:\/\/webook.com\/en\/events\/ufc-fight-night-tickets\" style=\"\" rel=\"noopener\">here<\/a>. <\/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>Our corner of the world is the undisputed big story around the world <\/strong>as journalists around the world take stock of the death of Iran\u2019s president and foreign minister, the health of King Salman, and the prospect of arrest warrants for the top leaders of Israel and Hamas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The International Criminal Court\u2019s chief prosecutor has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.icc-cpi.int\/news\/statement-icc-prosecutor-karim-aa-khan-kc-applications-arrest-warrants-situation-state\" style=\"\" rel=\"noopener\">requested<\/a><\/strong><strong> arrest <\/strong><strong>warrants for Israeli Prime Minister Benjamin Netanyahu<\/strong>, his defense minister, and three Hamas leaders on charges of war crimes and crimes against humanity. A panel of ICC judges will decide whether or not to accept the prosecutor\u2019s request. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US isn\u2019t happy: <\/strong>US President Joe Biden was quick to respond to the news. In a brief <a target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2024\/05\/20\/statement-from-president-joe-biden-on-the-warrant-applications-by-the-international-criminal-court\/\" style=\"\" rel=\"noopener\">statement<\/a>, he called the move \u201coutrageous.\u201d Meanwhile, US Secretary of State Antony Blinken is <a target=\"_blank\" href=\"https:\/\/www.state.gov\/warrant-applications-by-the-international-criminal-court\/#:~:text=Fundamentally%2C%20this%20decision%20does%20nothing,States%20continues%20to%20pursue%20relentlessly.\" style=\"\" rel=\"noopener\">warning of the implications<\/a> of this move, saying that it could jeopardize ongoing efforts to reach a ceasefire agreement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The death of Iranian President Ibrahim Raisi has opened a conversation on the future of the<\/strong><strong> region\u2019s leadership<\/strong>, writes <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-20\/saudi-king-s-health-iran-leader-s-death-spark-succession-bets?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WORTH READING- <\/strong>The <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/iran-government-future-raisi-khamenei-succession-mojtaba-6d3b970bce0c6d436b25b550d887ceaf\" style=\"\" rel=\"noopener\">AP<\/a> is out with a piece asking \u201cwhat\u2019s next for Iran\u2019s government?\u201d Among the questions is who among the hard-liners could step into the presidency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND IN TECH NEWS- <\/strong>Microsoft <a target=\"_blank\" href=\"https:\/\/blogs.microsoft.com\/blog\/2024\/05\/20\/introducing-copilot-pcs\/\" style=\"\" rel=\"noopener\">announced<\/a> its Copilot+ PCs, which it is billing as \u201cthe fastest, most intelligent Windows PCs ever built\u201d \u2014 designed for AI, of course, as is the flavor of the day. The device will call on AI to perform tasks such as helping users recall things they have come across on their computer. Look for it to be available starting 18 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Wall Street Journal\u2019s Joanna Stern is no shill \u2014 and she\u2019s impressed<\/strong>, writing that the device \u2014 which she\u2019s had the chance to play with \u2014 left her thinking that <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/personal-tech\/microsoft-ceo-satya-nadella-interview-ai-laptops-76eef1e1\" style=\"\" rel=\"noopener\">\u201cWindows is exciting again.\u201d<\/a> The bottom line: \u201cThey\u2019ve got improved performance, battery life and enhanced AI features. Finally. Microsoft is promising some real competition to Apple\u2019s M-powered MacBooks.\u201d <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2024\/5\/20\/24160463\/microsoft-windows-laptops-copilot-arm-chips-m1\" style=\"\" rel=\"noopener\">The Verge\u2019s Tom Warren<\/a> has more.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-japan-relations\/\">Saudi-Japan relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT 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<a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/day-1-of-the-future-aviation-forum-ends-on-a-high-note\/\">\r\n                            Airbus lands Saudi\u2019s largest aircraft order in its history                        <\/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\/21\/day-1-of-the-future-aviation-forum-ends-on-a-high-note\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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data-attachment-id=\"86365\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/day-1-of-the-future-aviation-forum-ends-on-a-high-note\/1585-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1585.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1585.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1585.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1585.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86364\" class=\"content-area-description single-story post-86364 post type-post status-publish format-standard has-post-thumbnail hentry category-spotlight tag-aviation tag-public-investment-fund-pif tag-riyadh-air 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\/.0f29d9fe-ecea-4d16-aea1-8fd62da9c984.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Day one of the Future Aviation Forum (FAF) kicked off yesterday, with <\/strong><strong>national flag <\/strong><strong>carrier <\/strong><strong>Saudia landing the Kingdom\u2019s largest-ever aircraft order.<\/strong> The first day of the gathering also saw the General Authority of Civil Aviation (Gaca) launch two reports on the domestic industry, how it plays into the Kingdom\u2019s economic growth strategy, and a roadmap to turn it into a USD 2 bn industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Some 5k executives from aviation majors including Boeing, Airbus, China\u2019s Comac, and Embraer, along with industry experts, manufacturers and government officials are in the capital for talks on industry trends and the signing of agreements on the sidelines of the forum. Over 70 agreements worth USD 12 bn are expected to be signed at FAF, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2107059\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fast figures:<\/strong> The civil aviation sector <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/2474bf66-4d77-40cf-8afb-b9ff6bb72776\" style=\"\" rel=\"noopener\">has contributed<\/a> USD 53 bn to the Kingdom\u2019s GDP, according to Gaca\u2019s inaugural State of Aviation Report. Some USD 20.8 bn came from aviation related activities, while USD 32.2 bn came from tourism. The full report has not yet been made public. <\/p>\n<p class=\"tag-border-left\">A LANDMARK SAUDIA BUY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudia has placed an order for 105 narrow-body aircraft from Airbus<\/strong>, which will see it add additional A320neo aircraft to its fleet, <a target=\"_blank\" href=\"https:\/\/www.saudia.com\/pages\/experience\/about-us\/corporate-communication\/press-releases-and-news\/press-releases\/press-release-20052024\" style=\"\" rel=\"noopener\">Saudia<\/a> and <a target=\"_blank\" href=\"https:\/\/www.airbus.com\/en\/newsroom\/press-releases\/2024-05-saudia-group-orders-105-a320neo-family-aircraft-to-support-saudi\" style=\"\" rel=\"noopener\">Airbus<\/a> said in statements. The order, worth USD 19 bn, is the largest aircraft order in the Kingdom\u2019s history, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/19bln-aircraft-order-headlines-first-morning-of-future-aviation-forum-rxdf3ikw\" style=\"\" rel=\"noopener\">statement<\/a> from the forum. Saudia secured the purchase at a reduced price tag, which is usual in the industry, Flyadeal CEO Steven Greenway told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/saudia-group-agrees-deal-with-airbus-105-aircraft-2024-05-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> without providing further details. The aircraft will be distributed between the flagship carrier and its low-cost subsidiary Flyadeal, with Saudia set to receive 54 A321neo, while Flyadeal will get 12 A320neo and 39 A321neo. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale: <\/strong>Saudia wants to increase the number of its passengers to 330 mn and expand destinations to 250 by 2030, it said. The target plays into the Tourism Ministry\u2019s goal to lure in 150 mn tourist trips after it hit its target last year ahead of schedule. It also accommodates a target to increase the number of pilgrims to 30 mn by the end of the decade.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\"Saudia has ambitious operational objectives to meet growing demand. We are increasing flights and seat capacity across our existing 100+ destinations on four continents, with plans for further expansion. The progress of Saudi Vision 2030 is attracting more visits, tourists, entrepreneurs, and pilgrims each year,\u201d Saudia Director General Ibrahim Al Omar said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The landmark order could have been even bigger but Airbus cannot handle any more <\/strong><strong>deliveries before<\/strong><strong> 2032<\/strong>, Saudia spokesman Abdullah Alshahrani told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-20\/airbus-wins-historic-order-from-saudi-arabia-s-flagship-carrier\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. \u201cWe need more than 180 aircraft but there are no slots,\u201d Alshahrani said. \u201cWe need the planes now. That\u2019s our demand,\u201d he said. Saudia will begin receiving aircraft from Airbus starting 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> Saudia has 144 aircraft in its fleet include 93 Airbus and 51 Boeing aircraft, according to its <a target=\"_blank\" href=\"https:\/\/www.saudia.com\/pages\/experience\/about-us\/our-fleet?sc_lang=en&amp;sc_country=US\" style=\"\" rel=\"noopener\">website<\/a>. Its subsidiary flyadeal\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e7d03226-86b1-4abf-b012-aa40a8158a5c\" style=\"\" rel=\"noopener\">entire fleet<\/a> is Airbuses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beating Boeing: <\/strong>Saudia <a target=\"_blank\" href=\"https:\/\/www.saudia.com\/pages\/experience\/about-us\/corporate-communication\/press-releases-and-news\/press-releases\/press-release-14032023-3\" style=\"\" rel=\"noopener\">signed last year<\/a> an agreement with US planemaker Boeing for the order of 39 787 Dreamliners with options for ten more aircraft. PIF-owned airline Riyadh Air <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/boeing-nabs-order-78-787-dreamliners-two-saudi-airlines-2023-03-14\/\" style=\"\" rel=\"noopener\">made a similar order last year<\/a> with options for an additional 33 aircraft. Riyadh Air was <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/saudia-group-agrees-deal-with-airbus-105-aircraft-2024-05-20\/\" style=\"\" rel=\"noopener\">reportedly close<\/a> to placing a large narrow-body order in November which <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-11\/riyadh-air-set-for-100-boeing-max-order-in-dubai-to-extend-fleet\" style=\"\" rel=\"noopener\">Bloomberg<\/a> said involved the Boeing 737 Max planes, but no agreement was closed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Boeing\u2019s negative press didn\u2019t help:<\/strong> \u201cWhat happened was the media three weeks later spent every hour of every day writing negative stories about commercial aviation,\u201d Riyadh Air CEO Tony Douglas told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/saudia-group-agrees-deal-with-airbus-105-aircraft-2024-05-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Political considerations had no bearing on the Boeing agreement being stalled or any other aircraft announcements, Douglas said, telling the newswire that future aircraft purchases will continue to \u201cstay as split [between suppliers] as we can.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tried and tested: <\/strong>Flyadeal chose Airbus because it\u2019s familiar with the European planemaker despite delivery delays. \u201cIt\u2019s public knowledge there have been constraints and delivery delays for everyone,\u201d he said. \u201cI don't like it.... [but] what can you do?\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Saudia could soon land in PIF\u2019s portfolio: <\/strong>PIF reportedly in talks <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8cb34099-b080-4684-a0e2-3a2488ce9c9c\" style=\"\" rel=\"noopener\">to acquire<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8cb34099-b080-4684-a0e2-3a2488ce9c9c\" style=\"\" rel=\"noopener\">Saudia<\/a> as soon as next year to add it to its aviation assets portfolio. PIF could take over Saudia\u2019s ownership from the government with the intention of improving its efficiency and net income. It could be either privatized or merged with Riyadh Air \u2014 the second flag carrier being set up by PIF.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Saudia will <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/b8a916d0-87ca-4a28-8726-543ac095fd3c\/today:-israel-accuses-houthis-of-seizing-british-owned-cargo-ship-in-the-red-sea-%2B%253cmark%253e-saudia-%253c%2Fmark%253ewill-leave-riyadh-in-2030-as-riyadh-air-takes-charge\" style=\"\" rel=\"noopener\">bid adieu to Riyadh<\/a><\/strong><strong> by 2030<\/strong> to make way for Riyadh Air and will instead base itself out of Jeddah\u2019s King Abdulaziz International Airport<\/p>\n<p class=\"tag-border-left\">ALSO FROM THE FORUM-<\/p>\n<ul>\n<li><strong>Saudi Arabia <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2513566\/business-economy\" style=\"\" rel=\"noopener\">could be running<\/a><\/strong><strong> space tourism trials later this year<\/strong>, Saudi Space Agency CEO Mohammed Al Tamimi said. \u201cWithin a window of 60 days from now, there will be an announcement to do some trials here in Saudi Arabia about space tourism,\u201d he said.<\/li>\n<li><strong>Local firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/front-end-limited-company-felco-\/\" style=\"\" rel=\"noopener\">Front End<\/a><\/strong><strong> is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2513696\/business-economy\" style=\"\" rel=\"noopener\">bringing electronic passenger drones<\/a><\/strong><strong> to Saudi by the end <\/strong><strong>of the year<\/strong> under a partnership with Chinese drone maker <a target=\"_blank\" href=\"https:\/\/www.ehang.com\/\" style=\"\" rel=\"noopener\">EHang<\/a> ;<\/li>\n<li><strong>Saudi and Kuwait <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.kuna.net.kw\/ArticleDetails.aspx?id=3152747#\" style=\"\" rel=\"noopener\">agreed to provide<\/a><\/strong><strong> perks to each other\u2019s airlines<\/strong> to boost cooperation. No further details were disclosed.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aviation\/\">AVIATION<\/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\/riyadh-air\/\">Riyadh Air<\/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=\"86366\" 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=\"86366\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/talco-could-raise-up-to-sar-516-mn-from-its-tadawul-ipo\/\">\r\n                            Talco could raise up to SAR 516 mn from its Tadawul IPO                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img 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<\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/talco-could-raise-up-to-sar-516-mn-from-its-tadawul-ipo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1384.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86367\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/talco-could-raise-up-to-sar-516-mn-from-its-tadawul-ipo\/1384-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1384.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1384.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1384.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1384.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86366\" class=\"content-area-description single-story post-86366 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-al-taiseer-group-talco-industrial-talco tag-capital-markets tag-enterpriseam-ksa tag-ipo-watch tag-tadawul wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.ed1e6c81-0d3a-4453-8790-8c9f4a12b119.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Aluminum products maker <\/strong><strong>Al Taiseer Group Talco Industrial (Talco) is <\/strong><strong>guiding on <\/strong><strong>a price range of SAR 40-43 <\/strong><strong>per share for its IPO on Tadawul\u2019s main market<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDBUsIwEIafxUOv3Q00pXqrAmEQhmJVSi5MqjF0bJNOCXZ4ewNc7Ayie8vs9__fToBDBlyLr0IJWxgtSvde83BD4xB7kwgXbNwb4XJ8e78cjhjBxwBWXQDThDogmfdn-IQMQ-D_yeMvE-Pfed5FLlxwAq4prkrYAJ4dMPiheH0IMMRFwOaziDBKIZUapsBVafLzp22tre889NCKd9HuS89Z3kxVC31ID1VuHEQIJUc01nk_UsAb-SEb2fj7xi2P-d2poG1bXxmjSum7AtdzIbI1OwtZl4S6esmwSD7ZKrJ0Hd98A6KHlyE!\/dz\/d5\/L0lDU0lLVUtVSkNncFJDZ3BSQ2lDbEVLSUtVU0ovWUJVRUFBQUlJTUlFQUNJQ0tJS0lHT0JPQkdPSkZKRkdKTk5ETkRMSUVDTkhIUEhQTEhBb0VFSW9FTUEhLzRKQ2lqc1l1T0lRU2t5RkpOUlRrS2FhaG10MnN0bk5Uelc3V1d3V29wVlVZb0EhIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9BTk5PVU5DRU1FTlRfTlVNQkVSLzgwMjQ0L2NvbXBhbnlTeW1ib2wvMTE1MS9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvYW5JZC9lbg!!\/\" style=\"\" rel=\"noopener\">a filing to the exchange<\/a>. The company is taking a 30% stake to market in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e4da0e33-8975-4fbe-9a11-1f4ae81456a4\/aluminum-products-maker%253cmark%253e-talco%253c%2Fmark%253e-the-latest-to-join-in-the-ipo-boom\" style=\"\" rel=\"noopener\">a secondary share sale<\/a>. At the top of the range, the pricing would see it raise up to SAR 516 mn in IPO proceeds, and give it a market cap of up to SAR 1.7 bn post-listing, according to our calculations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Institutional investors have until this Thursday, 23 May to place their orders<\/strong>, with each able to subscribe to a maximum of 2 mn shares and a minimum of 50k shares, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1379.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a>. The book-building process for retail investors will run for a two-day period starting Tuesday, 28 May, during which they can subscribe to a maximum of 250k shares and a minimum of 10 shares each. The final share allocation is expected to happen by Sunday, 2 June. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds: <\/strong>Talco\u2019s selling shareholders will take the transaction\u2019s proceeds home after covering transaction related-expenses \u2014 estimated at SAR 16 mn. All the proceeds will be divided between the selling shareholders on a pro rata basis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch:<\/strong> Talco is a leader in the industry, with a footprint in 26 countries across the GCC, MENA region and East Asia, Europe, US, and Australia. Several expansions throughout the years helped bring its aluminum production capacity to 60k MT as of June 2023. It currently operates two factories in Riyadh and one in Jeddah.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- Alinma Investment<\/strong> is quarterbacking the transaction as financial advisor, lead manager, bookrunner and underwriter, while <strong>Stat Law Firm<\/strong> is acting as counsel. <strong>PwC<\/strong> is Talco\u2019s financial due diligence advisor. <strong>Front &amp; Sullivan<\/strong> is serving as market consultant, while KPMG is acting as the company\u2019s auditor. The receiving agents are <strong>Alinma Bank, Al Rajhi Bank, and Riyad Bank<\/strong>.<\/p>\n<p class=\"tag-border-left\">SAUDI IPO PIPELINE AT A GLANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among the transactions now in the market <\/strong>or in the pipeline:<\/p>\n<ul>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/49df4304-4dc9-4573-b7d6-1e6540d7469d\" style=\"\" rel=\"noopener\">Fakeeh Care Group<\/a> has priced its IPO at the top range after strong demand from institutional investors as it looks to become the largest IPO so far this year;<\/li>\n<li>Fintech startup <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/108d78f3-ae8f-43fc-aeaa-39f9d514e131\" style=\"\" rel=\"noopener\">Rasan<\/a> is set to sell a 30% stake, with subscription period for retail investors kicking-off on Thursday, 29 May;<\/li>\n<li>Labor agency <a target=\"_blank\" href=\"http:\/\/enterprise.news\/ksa\/en\/news\/story\/8a0c26ac-91ab-4953-9ea7-fb4b2e3dd793\/labor-agency-smasco-prices-its-ipo-at-top-range-after-strong-demand-from-institutional-investors\" style=\"\" rel=\"noopener\">Saudi Manpower Company (Smasco)<\/a> is selling a 30% stake and has priced the IPO at the top of the range; <\/li>\n<li>Water treatment outfit <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0c079d3d-57fd-428f-bbc5-271112fe5ac7\" style=\"\" rel=\"noopener\">Miahona<\/a> has priced its IPO at the top of the range after recording strong investor appetite;<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1c55c7a4-ce77-4a0c-a7bd-1ad23a8256e0\" style=\"\" rel=\"noopener\">Nupco<\/a> \u2014 a unit of the PIF \u2014 has reportedly tapped Rothschild &amp; Co as financial advisor for its potential Tadawul IPO;<\/li>\n<li>Budget airline <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e299d7ad-c3f0-4533-bc3f-4dfb58ab2eb4\/\" style=\"\" rel=\"noopener\">Flynas<\/a> is reportedly looking to go public this year;<\/li>\n<li>PIF-backed lender Riyad Bank is considering the listing of its investment banking arm <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/291a8d44-0629-42f6-ae3b-2f9c2eb7bcbd\" style=\"\" rel=\"noopener\">Riyad Capital<\/a> ;<\/li>\n<li>Hotels and resorts operator <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c8620363-c996-408b-8d01-914668fdbb63\" style=\"\" rel=\"noopener\">Boudl<\/a> has filed to go public;<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9da021c4-8337-47f8-b4f7-7e13f94d0e7e\" style=\"\" rel=\"noopener\">Fourth Milling Company<\/a> will list before the end of June;<\/li>\n<li>Singapore\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/927c9005-50b0-4a1f-b4e5-599628a82d8b\" style=\"\" rel=\"noopener\">Olam Group<\/a> is mulling the IPO of its Olam Agri subsidiary on Tadawul;<\/li>\n<li>Hypermarket operator <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/eaeb2656-fa3e-4e48-8d21-772adfd9470f\" style=\"\" rel=\"noopener\">Lulu<\/a> is said to be eyeing a dual listing on Tadawul and ADX;<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/78df2631-68ae-4b15-86cd-59bab3c278b7\" style=\"\" rel=\"noopener\">Aster DM Healthcare<\/a> looks set to spin off its GCC assets and seek a dual listing on Tadawul and in the UAE.<\/li>\n<\/ul>\n\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-taiseer-group-talco-industrial-talco\/\">Al Taiseer Group Talco Industrial (Talco)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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=\"86368\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div 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data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1627.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1627.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86368\" class=\"content-area-description single-story post-86368 post type-post status-publish format-standard has-post-thumbnail hentry category-logistics tag-enterpriseam-ksa tag-industry tag-infrastructure tag-logistics tag-national-housing-company-nhc 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\/.53a35b62-1109-42f1-b8b8-25558b20a66a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The National Housing Company and Chinese state-owned conglomerate Citic will spend <\/strong><strong>some SAR 3 bn on the first phase of a planned industrial city and logistics zone <\/strong>targeting the building materials industry, NHC CEO Mohammad Albuty told Al Arabiya <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=-01Pjp7wV-A\" style=\"\" rel=\"noopener\">(watch, runtime: 10:10)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project will be home to 12 Chinese factories as well as a number of local players.&nbsp;<\/strong>\u201cThis will help localize the [building materials] industry and supply for [ongoing] projects by the NHC,\u201d Albaty said. The Housing Ministry\u2019s real estate investment arm, NHC plans to \u201cexpand further in the field\u201d to ensure a fast delivery of projects, Albaty said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Think <\/strong><strong>localization of the whole construction supply chain: <\/strong>Albaty said the NHC is seeking the localization of the construction supply chain at its planned ambitious project with Citic. \u201cIt will cover all of the construction supply chain starting with precast concrete to the production of different materials that are used in building residential units. All of these factories will be localized in Saudi \u2026 with partnerships planned with local factories to boost their production and customize production lines solely for NHC projects and its developer partners,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The NHC <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b76dcb4e-15ea-4639-8e18-e2c22e6080e2\" style=\"\" rel=\"noopener\">signed recently<\/a> a cooperation agreement with Citic to establish an industrial city and logistics zones for building materials. The move comes under a localization drive for the local building materials sector by helping local firms expand and directly supply real estate projects, according to officials. It will also help raise the quality of finish units, officials say.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/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\/national-housing-company-nhc\/\">National Housing Company (NHC)<\/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=\"86370\" 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=\"86370\">\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\">REAL ESTATE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/surprising-nobody-looking-to-rent-riyadhs-office-market-was-strong-in-1q-2024\/\">\r\n                            Riyadh\u2019s office market was tight in 1Q 2024 with 98% occupancy of Grade A offices                        <\/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\/21\/surprising-nobody-looking-to-rent-riyadhs-office-market-was-strong-in-1q-2024\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/surprising-nobody-looking-to-rent-riyadhs-office-market-was-strong-in-1q-2024\/')\">\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\/21\/surprising-nobody-looking-to-rent-riyadhs-office-market-was-strong-in-1q-2024\/\">\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=Surprising nobody looking to rent, Riyadh\u2019s office market was strong in 1Q 2024&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/surprising-nobody-looking-to-rent-riyadhs-office-market-was-strong-in-1q-2024\/\">\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\/21\/surprising-nobody-looking-to-rent-riyadhs-office-market-was-strong-in-1q-2024\/&title=Surprising nobody looking to rent, Riyadh\u2019s office market was strong in 1Q 2024\">\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=Surprising+nobody+looking+to+rent%2C+Riyadh%E2%80%99s+office+market+was+strong+in+1Q+2024+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F21%2Fsurprising-nobody-looking-to-rent-riyadhs-office-market-was-strong-in-1q-2024%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\/21\/surprising-nobody-looking-to-rent-riyadhs-office-market-was-strong-in-1q-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/684.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86371\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/surprising-nobody-looking-to-rent-riyadhs-office-market-was-strong-in-1q-2024\/684-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/684.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"684.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/684.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/684.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86370\" class=\"content-area-description single-story post-86370 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-enterpriseam-ksa tag-real-estate tag-regional-headquarters-program 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\/.47e2edf7-6515-434c-aaf3-92b10c993b53.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Riyadh\u2019s office market was tight in 1Q 2024, buoyed by a 4.4% growth in the <\/strong><strong>non-oil sector<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1588.pdf\" style=\"\" rel=\"noopener\">Savills\u2019 Riyadh Office Market report (pdf)<\/a>. Grade A offices saw an occupancy rate of 98% during the quarter as demand continues to pick up pace on the back of the Kingdom\u2019s diversification plan and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ae469b11-e29f-4dd2-a4b0-f5c317c075f4\" style=\"\" rel=\"noopener\">regional headquarters program<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the office market and foreign interest: <\/strong>New rentals fell 27% q-o-q due to lack of office space availability, with growing demand leading rent prices for Grade A offices to rise 5% q-o-q. Savills said it expects upward pressure on pricing to continue this year thanks to efforts to attract foreign investments and the Kingdom\u2019s regional headquarters program. Nearly 74% of inquiries received by Savills originated from abroad with a notable 37% interest from the US, it said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over 180 foreign firms have or are in the process of setting up a regional HQ in Riyadh<\/strong>, beating an initial target of 160 companies, according to Savills. \u201cThe city\u2019s expanding market and promising prospects are attracting international companies, reinforcing its position as a vital hub for leading businesses across diverse industries,\u201d Savills said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The Kingdom had set a 1 January 2024 deadline for foreign firms to move their regional HQs here or run the risk of losing out on government contracts. The plan, a cornerstone of Crown Prince and Prime Minister Mohammed bin Salman's drive to build a diversified, globally significant non-oil economy, has been in the works since February 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s trending in Riyadh: <\/strong>75% of transactions monitored by Savills saw relocations to business parks in the capital\u2019s northeast and King Abdullah Financial District in northern Riyadh. North-east Riyadh saw the highest rental increase in the first quarter of the year at 36% y-o-y while northern Riyadh came next with a 22% y-o-y rise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expect more supply to accommodate the rising demand:<\/strong> Savills sees some 420k sqm of new Grade A office space being added to the market by the end of the year, with the additional supply set to keep the rental market balanced against \u201csharp\u201d price increases.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Grade A office parks are the next big thing:<\/strong> Earlier this month, Ezdihar Real Estate Development <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/dd50a72e-f46b-4100-a93c-5e2ad0c67ce7\" style=\"\" rel=\"noopener\">launched a SAR 1.1 bn real estate fund<\/a> with Al Istithmar Capital \u2014 a wholly owned subsidiary of Saudi Investment Bank \u2014 to develop a \u201cGrade A office park\u201d in Riyadh. SNB Capital and Alshegrey Investment Group <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/21901196-389b-401b-9670-dec9d735bc72\" style=\"\" rel=\"noopener\">launched in February<\/a> the SAR 1 bn Al Ahli Al Basateen Real Estate fund. SNB Capital (the investment banking arm of SNB, the Kingdom\u2019s largest bank by assets) and Alshegrey are looking to capitalize on rising demand in Riyadh for offices and commercial real estate.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regional-headquarters-program\/\">Regional Headquarters Program<\/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=\"86372\" 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=\"86372\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/govt-issues-new-regulations-on-freelance-flexible-work\/\">\r\n                            Gov\u2019t issues new regulations on streamline freelance + flexible work in Saudi Arabia                        <\/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\/21\/govt-issues-new-regulations-on-freelance-flexible-work\/\" 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\/21\/govt-issues-new-regulations-on-freelance-flexible-work\/')\">\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\/21\/govt-issues-new-regulations-on-freelance-flexible-work\/\">\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=Gov\u2019t issues new regulations on freelance + flexible work&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/govt-issues-new-regulations-on-freelance-flexible-work\/\">\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\/21\/govt-issues-new-regulations-on-freelance-flexible-work\/&title=Gov\u2019t issues new regulations on freelance + flexible work\">\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=Gov%E2%80%99t+issues+new+regulations+on+freelance+%2B+flexible+work+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F21%2Fgovt-issues-new-regulations-on-freelance-flexible-work%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\/21\/govt-issues-new-regulations-on-freelance-flexible-work\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1626.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86373\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/govt-issues-new-regulations-on-freelance-flexible-work\/1626-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1626.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1626.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1626.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1626.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86372\" class=\"content-area-description single-story post-86372 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-business tag-enterpriseam-ksa tag-human-resources-and-social-development-ministry tag-labor 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\/.9db80057-91e3-4f2c-be61-ebea6b7fe80e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> New regs for freelance and other \u201cflexible\u201d work:<\/strong> The Human Resources and Social Development Ministry has issued <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1540.pdf\" style=\"\" rel=\"noopener\">new regulations (pdf)<\/a> to create a legal framework for the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/ksa\/2aa3c055-f4cd-4828-ab72-80205d2fef59\" style=\"\" rel=\"noopener\">freelance and other \u201cflexible\u201d work systems<\/a>. The new regulations went into effect on Sunday, 19 May; only Saudi nationals can legally engage in freelance work.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>This is the latest move in the government\u2019s push to open up to regional and international corporates, while accommodating and streamlining the different contracting systems that are currently gaining traction in the job market. There are currently 35k workers on the system, according to the ministry\u2019s <a target=\"_blank\" href=\"https:\/\/www.hrsd.gov.sa\/ar\/media-center\/news\/190520242\" style=\"\" rel=\"noopener\">website<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Contracts must be registered on the government\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/marn.io\/\" style=\"\" rel=\"noopener\">Marn platform<\/a><\/strong><strong>.<\/strong> The regulations also require that contracts mention a specific contracting duration and for employees to be paid an hourly rate. The contracting parties can agree to mention specific working hours in the contract. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Contract duration:<\/strong> The maximum duration of a contract is 12 months \u2014 consecutive or not \u2014 and if the contracting parties wish to continue working together beyond that duration they have to sign a new contract that expires after 12 months of work. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Working hours + compensation: <\/strong>Workers are allowed to clock in a maximum of 95 hours per month with one employer \u2014 half the number of working hours required by the private sector for employees on standard contracts. Workers on the flexible work system can put in a maximum of 160 hours per month with one employer, but will have to be paid for overtime. Overtime payment can be in the same hourly amount mentioned in the initial contract. Workers have the freedom to accept or decline to work during hours that are different from the ones specified in the contract. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This counts towards the company Nitaqat points:<\/strong> Companies with a minimum of 160 hours of work registered by any number of employees under this system will be able to receive Nitaqat points. However, a maximum of 20% of the Saudi employees working at a specific employer can be accounted for in the employer\u2019s Saudization points.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise, what is Nitaqat? <\/strong>Nitaqat, introduced in 2011, is a Saudization program managed by the Human Resources and Social Development Ministry and aims at boosting the number of Saudi citizens in the private sector and narrowing the employment gap between the public and private sectors. The program rewards companies that are actively hiring Saudis through by making it easier to hire and retain foreign employees.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/business\/\">BUSINESS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/human-resources-and-social-development-ministry\/\">Human Resources and Social Development Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/labor\/\">labor<\/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=\"86374\" 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=\"86374\">\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\/21\/saas-startup-merit-raises-usd-12-mn-in-a-series-b-funding-round\/\">\r\n                            Local SaaS startup Merit raises USD 12 mn in a Series B funding round                        <\/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\/21\/saas-startup-merit-raises-usd-12-mn-in-a-series-b-funding-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\/21\/saas-startup-merit-raises-usd-12-mn-in-a-series-b-funding-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\/21\/saas-startup-merit-raises-usd-12-mn-in-a-series-b-funding-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=SaaS startup Merit raises USD 12 mn in a Series B funding round&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/saas-startup-merit-raises-usd-12-mn-in-a-series-b-funding-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\/21\/saas-startup-merit-raises-usd-12-mn-in-a-series-b-funding-round\/&title=SaaS startup Merit raises USD 12 mn in a Series B funding 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=SaaS+startup+Merit+raises+USD+12+mn+in+a+Series+B+funding+round+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F21%2Fsaas-startup-merit-raises-usd-12-mn-in-a-series-b-funding-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\/21\/saas-startup-merit-raises-usd-12-mn-in-a-series-b-funding-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1565.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86375\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/saas-startup-merit-raises-usd-12-mn-in-a-series-b-funding-round\/1565-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1565.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1565.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1565.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1565.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86374\" class=\"content-area-description single-story post-86374 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.980de5c6-f064-4c66-a001-eda714c87324.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Merit \u2014 an engagement and loyalty SaaS provider \u2014 closed a USD 12 mn <\/strong><strong>pre-series B<\/strong><strong> round<\/strong><b>,<\/b> showing strong investor appetite as the company had initially aimed to raise USD 5 mn, according to <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/05\/merit-closes-12-million-pre-series-b-round\" style=\"\" rel=\"noopener\">a press release<\/a>. Saudi Investment Bank\u2019s wholly-owned subsidiary <a target=\"_blank\" href=\"https:\/\/icap.com.sa\/\" style=\"\" rel=\"noopener\">Alistithmar Capital i-Cap<\/a> led the round with follow-on investments from <a target=\"_blank\" href=\"https:\/\/techinvestcom.com\/\" style=\"\" rel=\"noopener\">Tech Invest Com<\/a> and <a target=\"_blank\" href=\"https:\/\/www.oryxfund.com\/\" style=\"\" rel=\"noopener\">Hambro Perks Oryx Fund<\/a>. Information about the structure of the investment and how much equity the investors will get in return wasn\u2019t disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This round is more than double the size of its series A:<\/strong> The tech company raised USD 5 mn in a series A round in 2021 from Riyadh-based VC fund Impact46 along with Tech Invest Com, Arzan VC, Hambro Perks Oryx and some unnamed regional angel investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The funds will be used to develop the company\u2019s tech stack<\/strong>, the statement reads, without providing further information. The tech company offers <a target=\"_blank\" href=\"https:\/\/www.meritincentives.com\/index.html#product\" style=\"\" rel=\"noopener\">five distinctive products<\/a> to engage, reward and gift customers, employees, and friends. The products cater to B2B and B2C businesses alike.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.meritincentives.com\/our-company\/index.html\" style=\"\" rel=\"noopener\">Merit<\/a><\/strong><strong>?<\/strong> Founded in 2016 by Julie Barbier-Leblan (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/julie-barbier-leblan-9a13b84\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) and Thrishan Padayachi (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/thrishan?miniProfileUrn=urn%3Ali%3Afs_miniProfile%3AACoAAAITe20BQ8W1hRk5i9put0wQEvTW67cELDA&amp;lipi=urn%3Ali%3Apage%3Ad_flagship3_search_srp_all%3B1K0JTqH5QQ6CEMNW6MKiZQ%3D%3D\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), the startup has global operations in over 160 countries and has partnerships with more than 6k brands, according to their website. Merit was initially headquartered in Dubai, but <a target=\"_blank\" href=\"https:\/\/meritincentives.com\/merit-relocates-its-regional-headquarter-to-riyadh\/index.html\" style=\"\" rel=\"noopener\">moved to Riyadh in March 2023<\/a>, and has offices in Kuwait, Egypt, UK, and Jordan. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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=\"86376\" 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=\"86376\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/ipo-bound-miahona-says-its-net-income-was-up-nearly-14-in-fy-2023\/\">\r\n                            IPO-bound Miahona says its net income was up nearly 14% in FY 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\/21\/ipo-bound-miahona-says-its-net-income-was-up-nearly-14-in-fy-2023\/\" 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\/21\/ipo-bound-miahona-says-its-net-income-was-up-nearly-14-in-fy-2023\/')\">\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\/21\/ipo-bound-miahona-says-its-net-income-was-up-nearly-14-in-fy-2023\/\">\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=IPO-bound Miahona says its net income was up nearly 14% in FY 2023&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/ipo-bound-miahona-says-its-net-income-was-up-nearly-14-in-fy-2023\/\">\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\/21\/ipo-bound-miahona-says-its-net-income-was-up-nearly-14-in-fy-2023\/&title=IPO-bound Miahona says its net income was up nearly 14% in FY 2023\">\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=IPO-bound+Miahona+says+its+net+income+was+up+nearly+14%25+in+FY+2023+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F21%2Fipo-bound-miahona-says-its-net-income-was-up-nearly-14-in-fy-2023%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\/21\/ipo-bound-miahona-says-its-net-income-was-up-nearly-14-in-fy-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86376\" class=\"content-area-description single-story post-86376 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings-watch tag-enterpriseam-ksa tag-infrastructure tag-ipo-watch tag-miahona 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\/.de220b4d-a730-4163-9af1-7ed6394199d1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Miahona\u2019s net income rose 13.6% y-o-y to SAR 56.9 mn in <\/strong><strong>FY 2023<\/strong>, the Riyadh-based water treatment company said in a <a target=\"_blank\" href=\"https:\/\/x.com\/miahona\/status\/1792553059555360835\" style=\"\" rel=\"noopener\">post on X<\/a>. The growth in net income came on the back of improved gross profit margins and higher revenues from customer contracts, mainly water and wastewater services contracts, according to <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1728851\" style=\"\" rel=\"noopener\">Argaam<\/a>. Revenues grew 17.6% y-o-y to SAR 324.5 mn over the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Miahona is IPOing based on the 3Q 2023 figures <\/strong>that <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1d76fa50-9aa2-4166-875f-2d6f8737e79a\" style=\"\" rel=\"noopener\">back its prospectus (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Just as Miahona gears up for listing: <\/strong>The sole owner of Miahona \u2014 Vision Invest \u2014 will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1d76fa50-9aa2-4166-875f-2d6f8737e79a\" style=\"\" rel=\"noopener\">offload a 30% stake<\/a> on main market Tadawul in a secondary share sale. The IPO of the water treatment outfit <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0c079d3d-57fd-428f-bbc5-271112fe5ac7\" style=\"\" rel=\"noopener\">was priced<\/a> top of the range at SAR 11.50 per share, valuing the IPO at just SAR 555.5 mn after strong demand from institutional investors. Miahona will make its market debut with a market cap of SAR 1.85 bn. The two-day subscription process for the retail tranche is slated to start today.<\/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>EFG Hermes KSA <\/strong>are quarterbacking the transaction as financial advisor, bookrunner, and underwriter, along with <strong>Saudi Fransi Capital (SFC)<\/strong> which is also separately acting as the lead manager. <strong>SFC <\/strong>and <strong>Riyad Bank<\/strong> are receiving agents.<strong> Latham &amp; Watkins<\/strong> is acting as legal counsel, while <strong>PwC<\/strong> is financial due diligence advisor, <strong>KPMG<\/strong> are serving as auditors, and <strong>Arthur D. Little<\/strong> as market consultant.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/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\/miahona\/\">Miahona<\/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=\"86377\" 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=\"86377\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/its-all-about-saudia-in-the-foreign-press\/\">\r\n                            It\u2019s all about Saudia in the foreign press                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/its-all-about-saudia-in-the-foreign-press\/\" 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\/21\/its-all-about-saudia-in-the-foreign-press\/')\">\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\/21\/its-all-about-saudia-in-the-foreign-press\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=It\u2019s all about Saudia in the foreign press&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/its-all-about-saudia-in-the-foreign-press\/\">\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\/21\/its-all-about-saudia-in-the-foreign-press\/&title=It\u2019s all about Saudia in the foreign press\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=It%E2%80%99s+all+about+Saudia+in+the+foreign+press+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F21%2Fits-all-about-saudia-in-the-foreign-press%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\/21\/its-all-about-saudia-in-the-foreign-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1616.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86378\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/its-all-about-saudia-in-the-foreign-press\/1616-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1616.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1616.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1616.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1616.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86377\" class=\"content-area-description single-story post-86377 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-enterpriseam-ksa tag-saudi-in-the-news tag-saudia 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\/.69e5c128-7765-47e6-b322-11f0f6fd2a38.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a mixed bag for Saudi in the foreign press today, with Saudia\u2019s historic narrow-body <\/strong><strong>aircraft order from Airbus and a rock <\/strong><strong>band making the rounds<\/strong>. Saudia\u2019s announcement \u2014 which we cover in this morning\u2019s news well, above, is getting ink from <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-20\/airbus-wins-historic-order-from-saudi-arabia-s-flagship-carrier\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/saudia-group-agrees-deal-with-airbus-105-aircraft-2024-05-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/saudia-group-airline-saudi-arabia-carrier-planes-17f69af191d586c3b75218174839528d\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.al-monitor.com\/originals\/2024\/05\/saudia-group-landmark-deal-105-airbus-planes\" style=\"\" rel=\"noopener\">AFP<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/05\/20\/business\/saudi-arabia-airline-airbus-biggest-order\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.telegraph.co.uk\/business\/2024\/05\/20\/ftse-100-markets-latest-news-gold-interest-rates-inflation\/\" style=\"\" rel=\"noopener\">The Telegraph<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, a recent performance by a local all-women psychedelic rock band in Riyadh&nbsp;<\/strong>got ink from the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/saudi-arabia-seera-psychedelic-rock-womens-rights-1407595ad4f757cea8d74c5ff6f43b2d\" style=\"\" rel=\"noopener\">Associated Press<\/a>. Seera\u2019s music style is inspired by life experiences of its four members using the local dialect. \u201cWe didn\u2019t know how people would react,\u201d Meesh, the Seera band\u2019s bassist, said. \u201cWe believe strongly in self-expression. To our surprise, they really had open arms for us.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudia\/\">Saudia<\/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=\"86379\" 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=\"86379\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/retal-urban-development-unit-lands-sar-2-9-bn-contract-with-pif-owned-roshn-plus-ma-debt-and-logistics\/\">\r\n                            Retal unit lands SAR 2.9 bn contract with PIF-owned Roshn. Plus: M&amp;A, debt and logistics                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/retal-urban-development-unit-lands-sar-2-9-bn-contract-with-pif-owned-roshn-plus-ma-debt-and-logistics\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/retal-urban-development-unit-lands-sar-2-9-bn-contract-with-pif-owned-roshn-plus-ma-debt-and-logistics\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/retal-urban-development-unit-lands-sar-2-9-bn-contract-with-pif-owned-roshn-plus-ma-debt-and-logistics\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Retal Urban Development unit lands SAR 2.9 bn contract with PIF-owned Roshn. Plus: M&#038;A, debt and logistics&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/retal-urban-development-unit-lands-sar-2-9-bn-contract-with-pif-owned-roshn-plus-ma-debt-and-logistics\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/retal-urban-development-unit-lands-sar-2-9-bn-contract-with-pif-owned-roshn-plus-ma-debt-and-logistics\/&title=Retal Urban Development unit lands SAR 2.9 bn contract with PIF-owned Roshn. Plus: M&#038;A, debt and logistics\">\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=Retal+Urban+Development+unit+lands+SAR+2.9+bn+contract+with+PIF-owned+Roshn.+Plus%3A+M%26%23038%3BA%2C+debt+and+logistics+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F21%2Fretal-urban-development-unit-lands-sar-2-9-bn-contract-with-pif-owned-roshn-plus-ma-debt-and-logistics%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\/21\/retal-urban-development-unit-lands-sar-2-9-bn-contract-with-pif-owned-roshn-plus-ma-debt-and-logistics\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1219.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86380\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/retal-urban-development-unit-lands-sar-2-9-bn-contract-with-pif-owned-roshn-plus-ma-debt-and-logistics\/1219-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1219.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1219.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1219.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1219.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86379\" class=\"content-area-description single-story post-86379 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-al-rajhi-bank tag-alkhorayef-water-and-power-technologies-awpt tag-also-on-our-radar tag-aramco tag-citic tag-enterpriseam-ksa tag-miahona tag-national-housing-company-nhc tag-retal-urban-development tag-roshn-group tag-saudi-lime-industries 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\/.b0b0f6dc-73d5-4f04-8187-c08794d5cfe9.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- <\/strong><strong>Building Construction (BCC) \u2014 a subsidiary of Tadawul-listed real estate <\/strong><strong>developer <\/strong><strong>Retal Urban Development \u2014 has <\/strong><strong>landed a SAR 2.9 bn contract<\/strong> for Dhahran\u2019s first multi-use community complex with PIF-owned Roshn Group, the parent company said in <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-oyMTYyEi_IDc0wiAzIDfcUVERAOb5124!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDI2NC9jb21wYW55U3ltYm9sLzQzMjIvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The 45-month agreement will see BCC design, build and develop some 1.9k residential units at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e90b0c8a-850a-47b4-a92a-e647a2ce38a9\" style=\"\" rel=\"noopener\">Roshn\u2019s<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e90b0c8a-850a-47b4-a92a-e647a2ce38a9\" style=\"\" rel=\"noopener\">Aldanah<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e90b0c8a-850a-47b4-a92a-e647a2ce38a9\" style=\"\" rel=\"noopener\">project<\/a> Site 1, in addition to carrying out some infrastructure and landscape work and developing public amenities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the project:<\/strong> Aldanah project, which spans 1.7 mn sqm, will be home to 10k residents. The complex\u2019s units will be equipped with advanced energy-saving features, including modern insulation, solar water heaters and high efficiency air conditioning. Green spaces will cover 10% of the project\u2019s total area. Aldanah is Roshn\u2019s sixth mixed-use development across the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Nomu-listed <\/strong><strong>View United Real Estate Development signed an MoU with Zamil Group<\/strong><strong> Real <\/strong><strong>Estate to cooperate on joint real estate investment and development projects <\/strong>for a renewable one-year period, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3apav49y\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>.<\/p>\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong>Alkhorayef Water and Power Technologies (AWPT) has increased its <\/strong><strong>Shariah-compliant credit facility <\/strong><strong>with Al Rajhi Bank to SAR 865 mn<\/strong> from a previous SAR 200.9 mn, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWlEQ3WEUjI-IEiPOxgw6DiQwQ3CU-PeOutL46q7tubc3BQIxEEHPGacqk4Lmut8QZ2t7DlojF-eBbw1x4Xf7i8EwaOKkDetnAKPQ1kA4a01xiQE6QP7R44fy8LeefEWCzivwJuId-JJhDITnMnn8wxNJy-VAKnZgFavMU6XHqVLlsWeggXVdm1xKnjNzJwsD30lSeVQQP5M37uZyN1F0T-tTrtVEr0oqLtGlSKQ-ZKHbhIgJKItVjFlYrF1lJ22vcQVhGPy3\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDI1My9jb21wYW55U3ltYm9sLzIwODEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. It said the value of the collateral provided for the financing was amended accordingly to SAR 910.9 mn, while the initial agreement\u2019s terms and conditions were kept unchanged. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>AWPT had originally lined up the loan from Al Rajhi Bank back in June 2022 to finance water projects in Dammam, according to an <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lZLBToNAEIafpQeOZgYIw9bbWiOlaaUIKOzFLC1BEliI2dbg00vsiSqt7m03359_vsmCgBSEkseqlLpqlayHeybo1eGE1pJhgMt4gYSRR0nMzHvfhpcxwDYeYfjIw8ByHfSeEcS_8hhtHQwftht7jU_oIf0tjxOHX-3Phrw7DZgQgQCR91Hf5G0NmYXMPL1wpdqD2hVNoTRk5jCJGJcFfO4OLqs7z19zm5F7DvyyrLNxf27jG7ike1HYoivCIZ2Ed23TSTW2XoEo6zY__Yo3rbtbAw3Uci8_DrUxVEulFlJDak4D_h5SYmS7EMl36JokST_jIp_7lX8jc9bb9bGczb4ALMIUkw!!\/dz\/d5\/L0lHSkovd0RNQUxrQUVnQSEhLzROVkUvZW4!\/\" style=\"\" rel=\"noopener\">earlier disclosure<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Nomu-listed WSM for Information Technology obtained a SAR 4 mn financing facility <\/strong>under the <a target=\"_blank\" href=\"https:\/\/www.sdb.gov.sa\/en-us\/our-products\/projects\/productive-loans-(2)\/products\/horizon\" style=\"\" rel=\"noopener\">Ofuq product<\/a> of the Social Development Bank, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/892778d9\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The facility is earmarked for funding the tech company\u2019s capital investments, and it will run for a period of 2 years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ofuq is tailored for companies that have been in business for a minimum of three years<\/strong> with annual sales between SAR 3 mn and SAR 40 mn.<\/p>\n<p class=\"tag-border-left\">M&amp;A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/saudilime.com\/en\/our-products\/\" style=\"\" rel=\"noopener\">Saudi Lime Industries<\/a><\/strong><strong> closed a SAR 35 mn full takeover of <\/strong><strong><a target=\"_blank\" href=\"http:\/\/www.astramining.sa\/about-astra-mining\/\" style=\"\" rel=\"noopener\">Astra Mining Limited<\/a><\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lZLLboMwEEW_hmU1EwiGdOemKgGREAI04E3lPJRSGRtFLlH-vm67KhEo9W6kc-d4xgYGJTDJu_rEda0kF6auGHlzKUF74WOCi3yOBLOAFLk_eQ4d2P4F_GVAMF3RNLE9F4NXBPavPGZrF9OX9dKJcYMBkvvyOHDoHX7WQ25v8AOMKUYlNukDCZ15RhE9BWFMHZ94feB2ixk_Q2VG9QY1KYFtVx8vUEh1bszTZd9dhdpzcYTKxE21V03L5TW7NjsloJq5hEBu1KNdI2AnoXa_n-Fd6_bRQgs1P_DLp7DM9FzKOddQToaB8AClj_bUhrYpihLr8GNaRd3qYSO6mH4BX3pH0A!!\/dz\/d5\/L0lHSkovd0RNQUZrQUVnQSEhLzROVkUvZW4!\/\" style=\"\" rel=\"noopener\">a filing to the exchange<\/a>. The Nomu-listed company will also settle SAR 130 mn in debts owed by Astra to local lenders as part of the acquisition, bringing the total amount of the transaction to SAR 164.6 mn. The transaction was financed by the company\u2019s own resources, along with debt facilities, the statement reads, without providing further information.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Home furnishing manufacturer <\/strong><strong>Naseej International Trading <\/strong><strong>has tapped <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wasatah.com.sa\/\" style=\"\" rel=\"noopener\">Wasatah<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wasatah.com.sa\/\" style=\"\" rel=\"noopener\">Capita<\/a><\/strong><strong>l as its financial advisor for <\/strong><strong>the acquisition of real estate developer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.etmamarabia.sa\/\" style=\"\" rel=\"noopener\">Etmam Arabia<\/a><\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWkAQ3WFUjI-IEiPOxgw6jiQwQ3CU-PeOutL46q7tubc3BQIJEEHPGacqk4Lmul8Tb-MGHtpDH2fhwO7jfNDuznv90MJxE1bPAMaRq4Fo6kxwgSF6QP7R44cK8LeefEXC1ivwJuId-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!\/\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The move comes a few months after Naseej <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-oyNDI0Fi_IDc0wiAzIDfcUVERAPQPY7g!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83OTA1Ni9jb21wYW55U3ltYm9sLzEyMTMvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">signed a non-binding MoU<\/a> to acquire 100% of Etmam Arabia through a stock swap that will see Naseej issue new shares for the acquisition. <\/p>\n<p class=\"tag-border-left\">FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Monsha\u2019at \u2014 the small and medium enterprises regulator \u2014 signed a number of financing <\/strong><strong>agreements to support SMEs <\/strong>as part of its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ee93ba14-f14f-4737-b765-42f23fd3fa54\" style=\"\" rel=\"noopener\">Funding Week<\/a>, it said in a <a target=\"_blank\" href=\"https:\/\/www.monshaat.gov.sa\/ar\/node\/99866\" style=\"\" rel=\"noopener\">statement<\/a>. No financial information was provided on these agreements, which include: <\/p>\n<ul>\n<li>An agreement with the Sama-affiliated <strong><a target=\"_blank\" href=\"https:\/\/saudibanks.com.sa\/en\" style=\"\" rel=\"noopener\">Saudi Banks Media and Awareness Committee<\/a><\/strong> to raise SMEs financial awareness; <\/li>\n<li>An agreement with <strong><a target=\"_blank\" href=\"https:\/\/janafinancial.sa\/#\/home\" style=\"\" rel=\"noopener\">Janaa Financial<\/a><\/strong> to determine SMEs investment needs and challenges;<\/li>\n<li>An agreement with <strong><a target=\"_blank\" href=\"https:\/\/arib.com.sa\/en\/\" style=\"\" rel=\"noopener\">Intelligence Solutions for Digital Brokerage in Finance (Arib)<\/a><\/strong> to provide financial brokerage services;<\/li>\n<li>Brought on <strong><a target=\"_blank\" href=\"https:\/\/sidb.sa\/\" style=\"\" rel=\"noopener\">Smart Interaction Digital Brokerage (Sidb)<\/a><\/strong> to offer financing windows through Monsha\u2019at\u2019s <a target=\"_blank\" href=\"https:\/\/mazaya.monshaat.gov.sa\/\" style=\"\" rel=\"noopener\">Mazaya platform<\/a>. <\/li>\n<\/ul>\n<p class=\"tag-border-left\"> TECHNOLOGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Aramco is partnering<\/strong><strong> up with French quantum computer startup Pasqal to install Saudi\u2019s <\/strong><strong>first quantum computer in the second half of 2025<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.pasqal.com\/news\/pasqal-first-quantum-computer-in-saudi-arabia\/\" style=\"\" rel=\"noopener\">joint statement<\/a>. Under an agreement, Pasqal will install, maintain, and operate a 200-qubit computer for the oil giant. Upon its deployment in 2025, the quantum computer will use the \u201canalog mode\u201d before an upgrade the next year to a state-of-the art hybrid \u201canalog-digital mode\u201d which solves more complex problems seamlessly. Aramco and Pasqal also plan to set up a quantitative research center to promote breakthroughs in quantum algorithm development and identify new use cases for the technology.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SMART POLICY-<\/strong> Quantum computing can have a key role in the development of cleaner fuels through the deployment of its algorithms to optimize energy markets by evaluating significant amounts of data, including energy demand, supply capacity and others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco and Pascal are no strangers: <\/strong>They signed an MoU in 2022 to \u201ccollaborate on quantum computing capabilities and applications in the energy sector\u201d with Aramco-backed VC fund Wa'ed Ventures <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2023\/01\/waed-invests-pasqals-108-million-series-b\" style=\"\" rel=\"noopener\">investing in Pasqal\u2019s USD 108 mn<\/a> Series B funding round in 2023. The French startup also set up an office in Saudi last year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-rajhi-bank\/\">Al Rajhi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alkhorayef-water-and-power-technologies-awpt\/\">Alkhorayef Water and Power Technologies (AWPT)<\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/citic\/\">Citic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/miahona\/\">Miahona<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-housing-company-nhc\/\">National Housing Company (NHC)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/retal-urban-development\/\">Retal Urban Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/roshn-group\/\">Roshn Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-lime-industries\/\">Saudi Lime Industries<\/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=\"86381\" 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=\"86381\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/top-us-official-voices-opposition-to-global-wealth-tax\/\">\r\n                            Top US official voices opposition to global wealth tax                        <\/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\/21\/top-us-official-voices-opposition-to-global-wealth-tax\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-attachment-id=\"86382\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/top-us-official-voices-opposition-to-global-wealth-tax\/1592-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1592.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1592.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1592.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1592.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86381\" class=\"content-area-description single-story post-86381 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-planet-finance tag-tax tag-us 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\/.afbcba12-0fd7-4005-9ab3-75683764905b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The US stands opposed to a global wealth tax: <\/strong>US Treasury Secretary Janet Yellen has made it clear that the US will not be backing a unified global wealth tax during upcoming G7 ministerial discussions, she told the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/policy\/a-global-tax-on-billionaires-janet-yellen-says-no-cdb22e2f?mod=hp_lead_pos2\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a case to be made in favor of such a tax:<\/strong> Officials from Brazil, France, Spain, Germany, and South Africa have been mulling a proposal that would require bn\u2019aires to part with at least 2% of their overall wealth annually, arguing that a global tax would prevent the super-wealthy from shifting their assets to overseas tax havens and help address the widening income inequality.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yellen thinks otherwise:<\/strong> \u201cWe believe in progressive taxation. But the notion of some common global arrangement for taxing bn\u2019aires with proceeds redistributed in some way \u2014 we\u2019re not supportive of a process to try to achieve that. That\u2019s something we can\u2019t sign on to,\u201d Yellen said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the US currently stands:<\/strong> While the US already taxes its citizens on the global income they earn \u2014 which hampers efforts to avoid taxation by moving assets abroad \u2014 the concept of an annual tax on an individual\u2019s net worth remains off the table. Meanwhile, the Supreme Court is expected to soon address the constitutionality of wealth taxes \u2014 its decision could significantly impact future tax policy in the country.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- We\u2019re nearing the end of an era at JPMorgan <\/strong>as Jamie Dimon, 68, \u201csignaled retirement is closer than ever, striking a key change in messaging during the bank\u2019s investor day. \u201cThe timetable isn\u2019t five years anymore,\u201d he said, per <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/20\/jpmorgan-ceo-jamie-dimon-retirement-approaching.html\" style=\"\" rel=\"noopener\">CNBC<\/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>And for our fellow Finance Bros of a Certain Age\u2122: Ivan Boesky has died at age 87. <\/strong>The American trader came to personify the excesses of arbitrage and insider trade in the 1980s, ultimately pleading guilty to conspiracy charges that signaled the unraveling of the \u201cgreed is good\u201d era on Wall Street. Boesky became famous for paying massive sums for inside information that allowed him to structure trades. His case prompted the US securities regulator to properly define insider trading for the first time. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fast fact: <\/strong>A commencement speech on the power of greed that Boesky delivered became the inspiration for the \u201cgreed is good\u201d like attributed to the character Gordon Gecko in Oliver Stone\u2019s Wall Street. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>See obituaries in <\/strong>the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fb1f730b-141d-4a38-a867-da2403823566\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/05\/20\/business\/ivan-f-boesky-dead.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/regulation\/ivan-boesky-convicted-in-1980s-insider-trading-scandals-dies-0f324945\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>.<\/p>\n<p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wall Street cheered Microsoft\u2019s new \u201cAI\u201d PC line<\/strong>, sending the tech-heavy Nasdaq to a record high yesterday, but Asian markets are nonplussed, with all but the Nikkei down in early trading this morning. European and US equities futures were down slightly overnight. <\/p>\n<p><a target=\"_blank\" id=\"t.1cffd2736312444df2cd1fbab7f8d6cac889a131\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,125<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +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\">1,515<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD:-2.3%)<\/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>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,036<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +10.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,229<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +9.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,038<\/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\">- (YTD: -5.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,067<\/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\">- (YTD: -0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,308<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +11.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,424<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +8.9%)<\/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>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\">5,074<\/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: +12.2%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 83.71  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2.74<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,433<\/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>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 69,801<\/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\">+5.2% (YTD: +66%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI fell 0.6% yesterday <\/strong>on turnover of SAR 6.1 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 Baha (+7.7%), Amak (+7.1%) and Medgulf (+6.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Cenomi Retail (-8%), Al Babtain (-7.4%) and Sharqiyah Dev (-4.5%).<\/p>\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong><strong> fell 0.1% yesterday <\/strong>on turnover of SAR 31 mn. The index is up 10.2% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Future Care (+11.1%), Pro Medex (+8.4%) and Osool and Bakheet (+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> Leen Alkhair (-7.7%), Al Muneef (-7.7%) and Riyadh Steel (-6.3%)<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The shareholders of Tadawul-listed Al Hassan Ghazi Ibrahim Shaker approved a 15% <\/strong><strong>capital increase to SAR 555 mn<\/strong> through a bonus share issuance in a bid to shore up the company\u2019s financial position and support its pipeline investments, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1555.pdf\" style=\"\" rel=\"noopener\">a statement to Tadawul (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- SAL Saudi Logistics Services approved the distribution of SAR 140.8 mn in dividends<\/strong><strong> for <\/strong><strong>1Q 2024 at SAR 1.8 per share<\/strong>, according to a statement on <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-oyMTIzFi_IDc0wiAzIDfcUVERAGLszNc!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDIzNS9jb21wYW55U3ltYm9sLzQyNjMvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">Tadawul<\/a>. Eligible shareholders can cashout within 15 working days from the 26 May eligibility date. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/us\/\">US<\/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=\"86383\" 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=\"86383\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/21\/crown-prince-extends-condolences-to-irans-interim-president-after-ebrahim-raisis-death\/\">\r\n                            Crown Prince extends condolences to Iran\u2019s interim president after Ebrahim Raisi\u2019s death                        <\/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\/21\/crown-prince-extends-condolences-to-irans-interim-president-after-ebrahim-raisis-death\/\" 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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Meanwhile, Foreign Minister Prince Faisal bin Farhan phoned in Iran\u2019s acting FM Ali Bagheri Kani to extend his condolences, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2107340\" style=\"\" rel=\"noopener\">SPA<\/a>. Kani was named acting FM by the Iranian cabinet following the death of FM Hossein Amirabdollahian.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Finance Minister Mohamed Al Jadaan discussed boosting investment, trade and&nbsp;<\/strong><strong>finance cooperation with his Chinese counterpart Lan Fo\u2019an <\/strong>during a visit to Beijing, according to a <a target=\"_blank\" href=\"https:\/\/x.com\/MAAljadaan\/status\/1792468804095652000\" style=\"\" rel=\"noopener\">post on X<\/a>. He also co-chaired a meeting of the financial sub-committee under the high-level Chinese-Saudi joint committee. Al Jadaan also met separately with China Securities Regulatory Commission Chairman Wu Qing.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/crown-prince\/\">Crown Prince<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ebrahim-raisi\/\">Ebrahim Raisi<\/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=\"86385\" 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\/21\/86385\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86385\" class=\"content-area-description single-story post-86385 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>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;\">26-27 May (Sunday-Monday): Bookbuilding for retail investors in Smasco IPO.        <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-28 May (Monday-Tuesday): Smart Data & AI Summit Saudi, JW Marriott Hotel, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 May (Wednesday): Sanabil 500 MENA seed accelerator demo day, 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:700;\">Signposted to happen sometime in May:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Global Trade Review (GTR): KSA<\/span><\/li>\n<li><span style=\"font-weight:400;\">Saudi Energy Convention<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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 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 style=\"font-weight:400;\">31 October (Thursday): No-visa travel for Saudis to Montenegro on charter flights expires. <\/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:400;\">11 December (Wednesday): FIFA Congress, which will decide the hosting countries for the FIFA World Cup 2030 and 2034<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2024:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">The AFC Champions League Elite<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-13 February (Monday-Thursday): Leap 2025, the Kingdom\u2019s premier tech investment conference.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Crown Prince postpones Japan trip | Talco could raise SAR 500 mn+ from IPO | New freelance regs | More details on Citic industrial city<\/p>\n","protected":false},"featured_media":86361,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-86360","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"9c694cf1-618f-47a2-a8af-43e6fc37dd0f","teaser":"Crown Prince postpones Japan trip | Talco could raise SAR 500 mn+ from IPO | New freelance regs | More details on Citic industrial city","photo_url":"https:\/\/ent.news\/2024\/5\/1638.jpg"},"yoast_head":"<!-- This site is optimized with the 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