{"id":86461,"date":"2024-05-23T00:00:00","date_gmt":"2024-05-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=86461"},"modified":"2025-12-14T18:11:02","modified_gmt":"2025-12-14T18:11:02","slug":"fintech-player-rasan-prices-ipo-at-top-of-the-range","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/fintech-player-rasan-prices-ipo-at-top-of-the-range\/","title":{"rendered":"Fintech player Rasan prices IPO at top of the range"},"content":{"rendered":"<section id=\"86463\" 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=\"86463\">\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\/23\/blinken-suggests-us-saudi-defense-and-nuclear-pacts-could-wrap-up-in-a-matter-of-weeks\/\">\r\n                            THIS MORNING: Blinken suggests US-Saudi defense and nuclear pacts could wrap up in a matter of \u201cweeks\u201d                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"265.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/265.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/265.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86463\" class=\"content-area-description single-story post-86463 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-commodities tag-ipo-watch tag-tosyali tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.2741feeb-3199-4f85-aa3b-3b1876aab1e1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people, and happy THURSDAY to you all. <\/strong>We hope you\u2019re looking forward to the weekend as much as we are \u2014 and we have a pleasantly compact issue for you this morning to speed you on your way. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>HAPPENING TODAY- It\u2019s the third and final day of the Airports Council <\/strong><strong>International annual conference \u2014 <\/strong><strong>better known as WAGA 2024.<\/strong>The day will kick off with an invitation-only session with the CEOs of Saudi-based Cluster 2, Riyadh Airports Company, Hermes Airport, Airports Company South Africa, and Delhi International Airport. Also, UK-based global travel data, and analytics provider Official Airline Guide \u2014 aka OAG \u2014 will release its aviation 2024 outlook report on the sidelines of the event. You can check out the <a target=\"_blank\" href=\"https:\/\/waga-aci.expoplatform.com\/conference-programme\" style=\"\" rel=\"noopener\">full program here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aviation + tourism are two sides of the same coin: <\/strong>The second panel discussion is set to delve into local and international case studies on how airports can work with non-aviation stakeholders industry to boost tourism. It is estimated that over 50% of all international tourists travel by air, and that tourism supports more than 319 mn jobs globally and contributes USD 8.8 trillion to world GDP \u2014 equivalent to 10.4% of the global economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also on the agenda:<\/strong> The prospects for air cargo, sustainability in aviation, innovation in customer experience, and future-proofing the industry\u2019s workforce.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Panelists to look out for:<\/strong><\/p>\n<ul>\n<li><strong>Steven Gillard<\/strong>, Boeing regional director for Middle East and Europe sustainability;<\/li>\n<li><strong>Ayman Aboabah<\/strong>, Riyadh Airports Company CEO;<\/li>\n<li><strong>Michael White<\/strong>, Red Sea International Airport CEO;<\/li>\n<li><strong>Yara Wehbe<\/strong>, Matarat Holding general manager of customer experience;<\/li>\n<li><strong>Ibrahim Shareef Mohamed, <\/strong>Maldives Airports Company CEO,<\/li>\n<li><strong>Eleni Kaloyirou<\/strong>, Hermes Airports CEO;<\/li>\n<li><strong>Kerati Kijmanawat<\/strong>, Airports of Thailand president; and<\/li>\n<li><strong>Glyn Hughes<\/strong>, The International Air Cargo Association director general.<\/li>\n<\/ul>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>ALSO TODAY- Trading of shares in Riyadh-based construction and mining firm <\/strong><strong>Mohammed <\/strong><strong>Hadi Al Rasheed will begin <\/strong><strong>on parallel<\/strong><strong> market Nomu today<\/strong>, according to a Tadawul <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details\/!ut\/p\/z1\/vVPLdpswEP2WLrzEGoR5pDs1bYlzcB3iV2DjI0DGSkEioJh8fsd2F3aO8-imWujMle5oHndEUvJAUsV3suRGasUrxEnqrV3mAb0JYBrOIxvipR8Fy3huw3hEliQlaa5MY7YkMbzg_XO1FmoAHbf-woPdtDIXHVeFVIVA63CoRH80at7-FuYIc3MCLQp0BC61rUp2RqpyH67SOa8ESYTaoyaXBUmygtpO7oE1cjaBNbrCLfPtwKJ-JvLMp5BRQVbn1QST0IP4F4un1HchXAJJ3y_2lT_M7lyIf95NnAjuIQTvc_7wxmIfxp9hxQm-4b9JYhhkJ0VPFkq3NQo4-8cWIXt1PVnHix_3GOmk0zdAbj_KD6dFPj49pQxHQisjXgx5-B8zsdqnfZralF35qMztt3AcMSfw_NeEC9KfEy5oeyC8Ix62p6x0dvw1TGVOgNPaio1oRTt8bvF4a0zTfR3AAPq-H5Zal5UY5roewCWXre6wf-dM0tR14NTWYoEXc5Gsv0eb2fjRrXYR-_IHWaEINQ!!\/dz\/d5\/L2dBISEvZ0FBIS9nQSEh\/?locale=en\" style=\"\" rel=\"noopener\">statement<\/a>. The company is wrapping up an IPO that saw it sell a 12% stake on the parallel market in a secondary share sale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to expect:<\/strong> Shares will be allowed to trade within a \u00b130% band on each of the first three days before being capped at no more than 10% up or down after that before circuit breakers kick in. (All shares on Tadawul are subject to the 10% up-or-down rule.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- It\u2019s the final day of the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.thesaudifoodshow.com\/\" style=\"\" rel=\"noopener\">Saudi Food Show<\/a><\/strong><strong>.<\/strong> The gathering, sponsored by the Industry and Mineral Resources Ministry and Modon, features top global food and beverage players showcasing their products.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Expect clear skies in <strong>Riyadh<\/strong> with a daytime high of 42\u00b0C and a low of 26\u00b0C. <strong>Jeddah <\/strong>is looking windy with a high of 37\u00b0C and a low of 26\u00b0C, while <strong>Makkah<\/strong> is also getting some wind along with some heat, bringing a high of 46\u00b0C and a low of 26\u00b0C.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- Crown Prince and Prime Minister Mohammed bin Salman and Japan\u2019s Kishida <\/strong><strong>Fumio <\/strong><strong>agreed to establish a strategic partnership council <\/strong>to boost bilateral ties, according to a Japanese Foreign Ministry <a target=\"_blank\" href=\"https:\/\/www.mofa.go.jp\/me_a\/me2\/sa\/pageite_000001_00366.html\" style=\"\" rel=\"noopener\">statement<\/a>. No further details were provided on the council. The two leaders also discussed cooperation on clean energy \u2014 including green hydrogen and ammonia \u2014 and other fields.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Businesses from Saudi and Japan signed more than 30 MoUs at the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/97328fc8-9008-4e19-b500-cb7e4e171889\" style=\"\" rel=\"noopener\">Saudi-Japan Vision 2030 business forum<\/a> in Tokyo, with a focus on energy and manufacturing, among other sectors. The gathering went forward despite the absence of the Crown Prince, who <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bfc1e9ff-4fe0-443e-a8df-81f04c77fa07\" style=\"\" rel=\"noopener\">postponed his trip<\/a> due to King Salman\u2019s health.<\/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- Saudi and the US may only be \u201cweeks away\u201d from concluding a bilateral <\/strong><strong>defense pact<\/strong>, US Secretary of State Antony Blinken told the House Appropriations Committee, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/blinken-says-us-saudi-pacts-could-be-weeks-away-completion-2024-05-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. \u201cThose agreements are in principle very close to being able to be concluded. Now of course we will come to Congress with them when they're ready to be reviewed, but [we] could be really weeks away from being able to conclude them,\u201d Blinken said. Officials <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/311f2ce9-ef89-4431-9b5e-112d8dec79f6\" style=\"\" rel=\"noopener\">have suggested<\/a> in the past days that Saudi and the US were days away from an agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No changes on Saudi demands of normalization:<\/strong> \u201cIn order for normalization to proceed, Saudi Arabia has made very clear that even with the agreements between us completed, they have to have two things: they have to have calm in Gaza and they have to have a credible pathway to a Palestinian state,\u201d Blinken said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- We expect the pacts to also include an agreement on AI <\/strong>and other advanced technologies, though talk of that component has dropped off in the US press of late. Washington has been lobbying Saudi Arabia and the UAE to work with US tech providers and not Chinese competitors. <\/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- A big week ahead for Arab diplomacy? <\/strong> The foreign ministers of Saudi Arabia, the United Arab Emirates, Egypt, Jordan and Qatar will <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/arab-eu-ministers-discuss-gaza-war-peace-efforts-2024-05-22\/\" style=\"\" rel=\"noopener\">join their 27 European Union counterparts<\/a> in Brussels on Monday for talks. Look for the war in Gaza and the post-war order there to take center stage. Foreign Minister Prince Faisal bin Farhan, meanwhile, was in Tehran yesterday for the funeral of Iranian President Ebrahim Raisi. Bin Farhan was joined by the FMs of the UAE and Kuwait as well as the emir of Qatar.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#4- The Foreign Ministry welcomed the \u201cpositive decision\u201d by Ireland, Norway, <\/strong><strong>and Spain to move toward recognition of a<\/strong><strong> Palestinian state<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/KSAMOFA\/status\/1793228603305463809\" style=\"\" rel=\"noopener\">statement on X<\/a>. The decision \u201cconfirms the international consensus on the inherent right of the Palestinian people to self-determination,\u201d the ministry said, urging more countries to follow suit to create a \u201creliable and irreversible path to achieve a just and lasting peace that fulfills the rights of the Palestinian people.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A historic move: <\/strong>The three European countries said yesterday they would <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c4nn78r3w3ko\" style=\"\" rel=\"noopener\">formally recognize a<\/a><a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c4nn78r3w3ko\" style=\"\" rel=\"noopener\">Palestinian state<\/a> starting Tuesday, 28 May. \u201cThis is an investment in the only solution that can bring lasting peace in the Middle East,\u201d Norway\u2019s Prime Minister Jonas Gahr St\u00f8re said. Spanish PM Pedro Sanchez stressed that the decision was \u201cnot against Israel, is not against the Jews\u2026 It is not in favor of Hamas which is something that has been said. This recognition is not against anyone, it is in favor of peace and coexistence.\u201d The move led Israel to recall its ambassadors from the three countries for \u201cconsultations.\u201d<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- The King Faisal University Endowment Fund has regulatory approval to be listed<\/strong>, after the <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3554.aspx\" style=\"\" rel=\"noopener\">Capital Market Authority<\/a> gave Albilad Investment the green light for the fund\u2019s public offering. The fund, established in 2007, focuses on investments in scientific research and social, economic, environmental, health, agricultural, and educational development, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1813.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>.<\/p>\n<p class=\"tag-border-left\">INVESTMENT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Turkish steel giant Tosyali could invest as much as USD 5 bn in Saudi to set up an <\/strong><strong>integrated steel mill with a production capacity of 4 mn tons<\/strong>, Chairman Fuat Tosyali told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/turkish-steelmaker-tosyali-plans-global-expansion-chairman-says-2024-05-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. The plan comes as part of a global expansion push that will see the steelmaker invest USD 1.5-2 bn a year in Africa, Saudi, Europe, and the Americas in a bid to become one of the world\u2019s leading 30 iron and steel producers, he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Keeping options open for Saudi:<\/strong> \u201cWhile we are not actively seeking partnerships, we are keeping our options open for partnerships with local private\/sovereign investors [in Saudi],\u201d he said, saying the investment is expected to be finalized in the upcoming three years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The top Turkish steelmaker, which expects USD 10 bn in turnover this year, is looking to increase its liquid steel production capacity to 20 mn metric tons \u2014 up from the current 14 mn \u2014 within the next five years.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to subscribe? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday before 7am Riyadh time \u2014 without charge, thanks to our friends at Cenomi.<br \/>***<\/p>\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Saudi\u2019s aviation sector recovery rate hit 123% of 2019 seat capacity, or 78 mn seats<\/strong>, outpacing the global rate of 90% , according to the General Authority for Civil Aviation (Gaca)\u2019s full <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1797.pdf\" style=\"\" rel=\"noopener\">State of Aviation Report (pdf)<\/a>. Saudi comes second regionally after Egypt, which saw a recovery rate of 134% to 46.8 mn international seats in 2023. Total passenger traffic was up 26.2% y-o-y to 111.7 mn in 2023, with international passenger numbers seeing the most notable recovery at 60.6 mn. Monthly passenger traffic levels in Saudi first surpassed pre-pandemic levels in October 2022, according to the report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big contribution to GDP:<\/strong> The civil aviation sector has contributed USD 53 bn to the Kingdom\u2019s GDP in 2023, according to the report. Some USD 20.8 bn came from aviation related activities, while USD 32.2 bn came from tourism. The sector saw 958k jobs across the aviation and tourism industries.<\/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 is the <\/strong><strong>third-best cit<\/strong><strong>y globally in terms of human capital<\/strong>, thanks to its \u201cyoung, diverse population, with many immigrants having moved there to join the workforce of its growing business hub,\u201d according to Oxford Economics\u2019 inaugural <a target=\"_blank\" href=\"https:\/\/www.oxfordeconomics.com\/wp-content\/uploads\/2024\/05\/Oxford_Economics_Global_Cities_Index_2024.pdf\" style=\"\" rel=\"noopener\">Global Cities Index (pdf)<\/a>. Riyadh is ranked third behind London and Tokyo, which top the human capital category. The index evaluates 1k cities around the world based on economics, human capital, quality of life, environment, and governance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The methodology:<\/strong> The human capital category takes into account educational attainment, universities, corporate HQs, population growth, age profile and foreign-born population as indicators for rankings. \u201cHuman capital encompasses the collective knowledge and skills of a city\u2019s population, underpinning the economic potential of every city\u2026 The cities leading the Human Capital category are hubs for higher education and business innovation, helping them attract diverse and highly educated populations,\u201d the report says.<\/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>One story is on every front page this morning: <\/strong>AI darling-of-the-moment Nvidia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The chipmaker\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/nvidianews.nvidia.com\/news\/nvidia-announces-financial-results-for-first-quarter-fiscal-2025\" style=\"\" rel=\"noopener\">1Q 2024 earnings<\/a><\/strong><strong> showed that sales had more than tripled to USD 20 <\/strong><strong>bn<\/strong>, topping analyst estimates and prompting many of them to suggest that the AI boom has legs. Net income was up almost 7x \u2014 sending its stock to a record USD 1,004 in after-hours trading. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why does it matter? <\/strong>\u201cNvidia\u2019s results have become a way for investors to gauge the strength of the AI boom that has transfixed markets in recent months,\u201d <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/22\/nvidia-nvda-earnings-report-q1-2025-.html\" style=\"\" rel=\"noopener\">CNBC writes<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Saudi Arabia and the US could be \u201cweeks away\u201d from a wide-ranging set of <\/strong><strong>accords <\/strong>that Washington hopes will pave the path for Riyadh to normalize relations with Israel. On the agenda are pacts on security and defense and nuclear power, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/blinken-says-us-saudi-pacts-could-be-weeks-away-completion-2024-05-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, while EnterpriseAM Saudi also expects there to be an agreement on artificial intelligence and advanced technologies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Ireland, Norway, and Spain have said they will formally recognize the state <\/strong><strong>of Palestine. <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.irishtimes.com\/ireland\/2024\/05\/22\/irish-recognition-of-palestinian-state-widely-welcomed-but-criticised-by-israel-and-its-supporters\/\" style=\"\" rel=\"noopener\">Irish Times<\/a> has more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- An early UK general election: <\/strong>A very wet UK Prime Minister Rishi Sunak called a general election for 4 July, ending months of speculation about when he would make the call. The elections are likely to mark a turning point in the UK government, with the Conservatives likely to lose to the opposition Labour Party \u2014 this would mark the end of a 14-year of Conservatives in power. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/uk\/rishi-sunak-calls-uk-national-election-july-4-2024-05-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/politics\/article\/2024\/may\/22\/why-has-the-uk-pm-called-a-general-election-whats-at-stake-and-what-happens-now\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/uk-election-speculation-rishi-sunak-bcc72f7f262086e9b20f7dd80f88c91f\" style=\"\" rel=\"noopener\">AP<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WORTH READING THIS MORNING- <\/strong>Reuters is out with an investigative piece on how <strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/investigates\/special-report\/climate-change-loans\/\" style=\"\" rel=\"noopener\">wealthy<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/investigates\/special-report\/climate-change-loans\/\" style=\"\" rel=\"noopener\">nations are capitalizing on climate funding<\/a><\/strong> to developing nations, while the Wall Street Journal looks at the <strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/highest-paid-ceo-2023-charts-0d65be3b\" style=\"\" rel=\"noopener\">highest-paid CEOs in America<\/a><\/strong> last year. <\/p>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Demo day for the final round of the Sanabil 500 MENA seed accelerator will kick off <\/strong><strong>next Wednesday, 29 May<\/strong> in Riyadh with seven finalists. Applications for the next batch <a target=\"_blank\" href=\"https:\/\/mena.aplica.500.co\/\" style=\"\" rel=\"noopener\">are now open<\/a> and will close on 6 August 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh will host a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/globalaisummit\/status\/1789658478690078841\" style=\"\" rel=\"noopener\">Global AI Summit<\/a><\/strong><strong> from 10-12 September<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2101219\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. The event, which is organized by the Saudi Authority for Data and Artificial Intelligence, will focus on key AI topics and trends, delving into its local and global adoptions, ethics, and infrastructure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dammam will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudimaritimecongress.com\/en\/home.html\" style=\"\" rel=\"noopener\">Saudi Maritime and Logistics Congress<\/a><\/strong><strong> from Wednesday, 18 <\/strong><strong>September to Thursday, 19 September.<\/strong> The two-day event looks to gather up to 10k attendees and 200 exhibitors, and will discuss topics including interlinked logistics, developments in supply chains, digitalisation, decarbonisation, the energy transition, and workforce development.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div 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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86467\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/rasan-prices-its-ipo-at-the-top-of-the-range-ahead-of-retail-subscriptions\/1782-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1782.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1782.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1782.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1782.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86466\" class=\"content-area-description single-story post-86466 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-capital-markets tag-enterpriseam-ksa tag-fintech 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\/.465723c5-5ff7-4fd9-b0fc-2e91f685af91.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fintech startup Rasan priced its IPO on main market Tadawul at SAR 37 per share<\/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\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83Z29TAwC_Rx9DSxdLY0MDAz1w_Wj9KOQlRgEB5gaBLoF-Br7GAQZuBuYQRUY4ACOBvoF2dmBAERHA9g!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFSklLSUtVUW9ncFJJa0EhIS9ZUFVFQUFBSUlFTUVDS0lFQUdJR09JT0lCSkZKRkJKTkROREJORUxMSEhQSFBMSEFnb2dvckFzQ0FBISEvNEpDaWpLMWJHTGppRUVwTWhUVlVrNUNpbXBwektETmJ0WmJPYW5tdDJzdGd0U0txb3lRIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9lbi9jb21wYW55U3ltYm9sLzEwMDUvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMjk2\/\" style=\"\" rel=\"noopener\">a filing to the exchange<\/a>. The institutional tranche of the offering was 129.1x oversubscribed, signaling strong investor appetite for the offering, the statement reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Rasan is selling a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/acdb8d91-d4b7-48d8-ac15-7edee6e26513\/fintech-player%253cmark%253e-rasan%253c%2Fmark%253e-files-to-go-public\" style=\"\" rel=\"noopener\">30% stake<\/a> through an offering of existing and new shares. The sale sees Rasan offering 22.7 mn shares, including 17.4 mn shares from 15 selling shareholders and 5.3 mn new shares. Some SAR 40.4 mn will be deducted from the proceeds to cover the offering\u2019s expenses, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1779.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Proceeds + market cap: <\/strong>The final price will allow the fintech outfit to raise SAR 841 mn from the IPO, and values the company at SAR 2.8 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>What\u2019s next? <\/strong>Bankers will be booking orders for 2.3 mn shares from retail investors for two days starting on Wednesday, 29 May 2024, before the final allocation takes place on Tuesday, 4 June. Refunds, if any, are scheduled for Thursday, 6 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rasan\u2019s services include&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/www.tameeni.com\/\" style=\"\" rel=\"noopener\">ins. aggregator Tameeni<\/a>, <a target=\"_blank\" href=\"https:\/\/www.rasan.co\/treza.html\" style=\"\" rel=\"noopener\">B2B leasing ins. platform Treza<\/a>, <a target=\"_blank\" href=\"https:\/\/awalmazad.com\/\" style=\"\" rel=\"noopener\">automotive auction platform Awal Mazad<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.rasan.co\/warshti.html\" style=\"\" rel=\"noopener\">car repair workshop Warshti<\/a>. With offices in the Kingdom, the UAE, and Egypt, the company claims to have more than 8 mn customers, 60 partners, and 10 products, according to its <a target=\"_blank\" href=\"https:\/\/www.rasan.co\/\" 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>ADVISORS-<\/strong><strong>Saudi Fransi Capital<\/strong> is quarterbacking the transaction as financial advisor, lead manager, bookrunner and underwriter. <strong>Morgan Stanley Saudi Arabia<\/strong> is also acting as financial advisor, bookrunner, and underwriter. Receiving banks include Banque Saudi Fransi and AlRajhi Bank. Latham &amp; Watkins is Rasan\u2019s legal advisor, while White &amp; Case was appointed as legal advisor to the lead manager, financial advisors, underwriters, and bookrunners. PwC is financial due diligence advisor and marketing consultant and EY is serving as auditor.<\/p>\n<p class=\"tag-border-left\">SAUDI IPO PIPELINE AT A GLANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among the transactions now in the market <\/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\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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=\"86468\" 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=\"86468\">\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\">FOREIGN POLICY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/washington-wants-to-boost-defense-cooperation-with-gcc-countries-as-a-hedge-against-iran\/\">\r\n                            Washington wants to boost defense cooperation with GCC countries as a hedge against Iran                        <\/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        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data-image-meta=\"[]\" data-image-title=\"1767.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1767.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1767.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86468\" class=\"content-area-description single-story post-86468 post type-post status-publish format-standard has-post-thumbnail hentry category-foreign-policy tag-enterpriseam-ksa tag-gulf-cooperation-council tag-maritime 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\/.1bb9caf4-040b-4711-b034-28a3ce6e120a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>US-GCC&nbsp;<\/strong><strong>defense <\/strong><strong>meetings took place in Riyadh yesterday against the backdrop of <\/strong><strong>regional tensions <\/strong>including Israel\u2019s war in Gaza, contained aggression between Tel Aviv and Tehran, along with Houthi attacks in the Red Sea, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/after-israel-defense-us-sees-chance-entice-gulf-allies-missile-shield-2024-05-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. This is happening as Riyadh and Washington approach the finish line with a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/07f67267-8075-4e34-a3ac-30200ec3df75\/us-security,-nuclear,-ai-pact-nearly-a-done-deal%3F\" style=\"\" rel=\"noopener\">bilateral agreement<\/a> that involves security assurances by the US, along with cooperation on AI and advanced tech.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cWe are stronger when we act together.\u201d<\/strong> That\u2019s Washington\u2019s big message to the GCC, <a target=\"_blank\" href=\"https:\/\/www.defense.gov\/News\/News-Stories\/Article\/Article\/3782973\/at-gulf-cooperation-council-us-participates-in-maritime-missile-defense-working\/\" style=\"\" rel=\"noopener\">a US<\/a><a target=\"_blank\" href=\"https:\/\/www.defense.gov\/News\/News-Stories\/Article\/Article\/3782973\/at-gulf-cooperation-council-us-participates-in-maritime-missile-defense-working\/\" style=\"\" rel=\"noopener\">Department of Defense official<\/a> said. \u201cWe'll focus on improving US and GCC interoperability and integration to ensure that the region is postured to counter, to deter, and to defeat air and maritime threats and ultimately to advance peace and security in the region.\u201d This is the first such meeting since February 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What gives?<\/strong> \u201cIran's destabilizing and dangerous behavior has given a newfound urgency and newfound energy to convene this working group and build out the elements of integrated air and missile defense,\u201d the official explained. The US boasts heavy military presence in the region represented in its military bases in the Kingdom, Qatar, Bahrain, Kuwait, and the UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Air + missile + maritime defense:<\/strong> The meeting delved into \u201cmultilateral efforts to counter existing threats, expansion of air and missile defense early warning systems, and the sharing of information to ensure a common air picture,\u201d the defense department statement says while referring to the defeat of Iran\u2019s most recent missile attacks on Israel. \u201cIn the maritime security working group, we'll focus heavily on these Houthi terrorist attacks against international shipping.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Washington has a clear objective: A regional missile shield. <\/strong>The meeting was meant to \u201chelp advance a long-standing goal of building a regional missile shield, bolstered by Israel's successful defense against waves of incoming Iranian missiles and drones last month,\u201d the newswire reports, citing unnamed US officials. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Line in the sand:<\/strong> \u201cWashington should also make clear to these partners that they can expect the same level of defensive support if Iran attacks them directly,\u201d Deputy Assistant Secretary of Defense Dana Stroul added.<\/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\/gulf-cooperation-council\/\">Gulf Cooperation Council<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/maritime\/\">MARITIME<\/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=\"86470\" 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=\"86470\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">BANKING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/listed-gcc-banks-revenues-fall-for-the-first-time-since-2021-says-kamco-invest\/\">\r\n                            Revenues for listed-GCC banks mark first drop since 2021 over surging interest rates, says Kamco Invest                        <\/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\/23\/listed-gcc-banks-revenues-fall-for-the-first-time-since-2021-says-kamco-invest\/\" 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 decline came on the back of a quarterly drop in net interest income and non-interest income, the Kuwait-based investment said, highlighting the impact of surging interest rates on banks\u2019 topline performance. Despite total interest income hitting a record high in 1Q 2024 to USD 50.5 bn, the higher interest expenses estimated at USD 29.3 bn \u201cmore than offset the growth in interest income.\u201d Non-interest income also declined 4.7% for the first time in six quarters to report USD 10.2 bn in 1Q 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Loans, loans, loans: <\/strong>Despite higher borrowing costs, data by central banks in the GCC showed higher q-o-q lending across the GCC with Saudi topping the list with 10.7% lending growth y-o-y, the report showed. Listed banks reported record-high gross loans and net loans at the end of 1Q 2024. Outstanding credit facilities in Saudi saw the fastest q-o-q growth in six quarters to SAR 2.7 tn on the back of growth in most industries. These include real estate, construction, and mining \u2014 all playing a pivotal role in 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>Total customer deposits at the banks also remained robust to report a new high of USD <\/strong><strong>2.45 tn in 1Q 2024<\/strong>, according to the report. Saudi-listed banks came in third place with total customer deposits of USD 767.5 bn during the quarter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bottom-line performance for listed banks remained strong with 10.5% y-o-y growth <\/strong><strong>to USD 14.4 bn<\/strong>, the report showed. The growth in bottomline despite lower revenues came on the back of total loan loss provisions reaching a five-year low at USD 2.4 bn, and a drop in operating expenses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other pundits agree:<\/strong> S&amp;P Global said in a report <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/86f6e56e-c80a-4d7a-a4dc-2e543ba25134\" style=\"\" rel=\"noopener\">earlier this month<\/a> that the monetary tightening cycle by the US Federal Reserve has served banks in the Gulf, where central banks mirror rates due to their currencies being pegged to the USD. It sees the profitability of GCC banks on track to remain robust this year thanks to the US Federal Reserve delaying interest rate cuts. Cutting rates by 100 basis points would trim rated Gulf banks\u2019 net income by c. 9%, according to S&amp;P.<\/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\/banking\/\">BANKING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/banks\/\">Banks<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/interest-rates\/\">interest rates<\/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=\"86472\" 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=\"86472\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/sama-wants-to-to-see-more-crowdfunding-of-debt\/\">\r\n                            Sama wants to to see more crowdfunding of debt                        <\/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\/23\/sama-wants-to-to-see-more-crowdfunding-of-debt\/\" 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 approach was made popular by crowdfunding apps that helped attractive startups raise equity from individual investors who may not have made the cut (from a regulatory point of view or their ability to write a big enough cheque) to participate in a traditional equity round. Crowdfunding for debt has done less to capture the imagination than equity crowdfunding, which came of age at the peak of the VC \/ startup hype.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some requirements remained the same:<\/strong> Debt crowdfunding companies seeking licenses from Sama will still need to have a minimum capital of SAR 5 bn, the amendments showed. Sama will have a say in amending the capital requirement depending on market conditions or the firm\u2019s business model or its activities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>With a key addition:<\/strong> Debt crowdfunding companies should obtain a written non-objection by Sama before it decides to dispose shares held by major shareholders or ones held by indirect owners if it affects 5% or more of total shares and voting rights.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And some omissions: <\/strong>Sama omitted a previously set condition to revoke licenses for the companies if they don\u2019t kickstart operations within six months of obtaining the license. It also removed a condition where it can revoke companies\u2019 license if they suspend activities for three consecutive months or six months apart without a written non-objection by Sama. Sama also removed a condition for the termination of licenses if they are not renewed upon expiry or if a liquidator was hired to liquidate the firm.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some can get more funding than others:<\/strong> Real estate projects looking to tap crowdlending will be exempted from a maximum funding cap of SAR 7.5 mn that Sama had set for SMEs from debt crowdfunding companies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Peer-to-peer lending firms could also take part: <\/strong>Debt crowdfunding companies will also be allowed to pour in some of its funds into companies looking to raise capital on the condition that the provided financing does not exceed its capital and reserves by ten-fold. Their funds should only account for 5% to 25% of total raised capital for companies seeking funds. They should also obtain a written non-objection from Sama.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Debt crowdfunding is gaining momentum in Saudi:<\/strong> Sama has been granting more licenses for fintech firms to operate as debt crowdfunding platforms in recent months. Earlier in May, fintech company <a target=\"_blank\" href=\"https:\/\/hala.com\/home\" style=\"\" rel=\"noopener\">Hala<\/a> obtained its <a target=\"_blank\" href=\"https:\/\/sama.gov.sa\/en-us\/news\/pages\/news-1024.aspx\" style=\"\" rel=\"noopener\">crowdlending license<\/a> from Sama, bringing the number of licensed debt crowdfunding firms to 11.<\/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\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-central-bank-sama\/\">Saudi Central Bank (SAMA)<\/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=\"86474\" 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=\"86474\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/nayifat-finance-chairman-resigns\/\">\r\n                            Nayifat Finance chairman resigns                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/nayifat-finance-chairman-resigns\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1900.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86475\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/nayifat-finance-chairman-resigns\/1900-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1900.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1900.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1900.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1900.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86474\" class=\"content-area-description single-story post-86474 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-ksa tag-moves tag-nayifat-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.b246fcd1-55fa-4e7e-bf8a-3a1dae6f5790.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul-listed <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/nayifat-instalment-company\/\" style=\"\" rel=\"noopener\">Nayifat Finance<\/a><\/strong><strong> said its Chairman Saleh Nasser Al Omair <\/strong><strong>(<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/saleh-alomair-0b629035\/?utm_source=Decypha&amp;utm_medium=Financial_Platform&amp;utm_campaign=Decypha\" style=\"\" rel=\"noopener\">Linkedin<\/a><\/strong><strong>)<\/strong><strong> has <\/strong><strong>resigned due to \u201cdifferent views on the mechanism of work of the members of board and committees,<\/strong>\u201d according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzQwODEvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMjk5\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Al Omair\u2019s resignation was effective on Tuesday, ending his near two-year tenure in the position. Prior to his appointment as chairman, Al Omair was a board member at Nayifat Finance since 2016. He previously served as the CEO of Amana Cooperative Ins. between 2011 and 2013. He was also CEO of Solidarity Saudi Takaful Company between 2006 and 2011.<\/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\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nayifat-finance\/\">Nayifat Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86476\" 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=\"86476\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/sal-saudi-logistics-to-lease-develop-air-cargo-facilities-at-riyadh-airport-plus-finance-aviation-and-transport\/\">\r\n                            SAL Saudi Logistics to lease, develop air cargo facilities at Riyadh airport. Plus: Finance, aviation and transport                        <\/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\/23\/sal-saudi-logistics-to-lease-develop-air-cargo-facilities-at-riyadh-airport-plus-finance-aviation-and-transport\/\" 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\/23\/sal-saudi-logistics-to-lease-develop-air-cargo-facilities-at-riyadh-airport-plus-finance-aviation-and-transport\/')\">\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\/23\/sal-saudi-logistics-to-lease-develop-air-cargo-facilities-at-riyadh-airport-plus-finance-aviation-and-transport\/\">\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=SAL Saudi Logistics to lease, develop air cargo facilities at Riyadh airport. Plus: Finance, aviation and transport&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/sal-saudi-logistics-to-lease-develop-air-cargo-facilities-at-riyadh-airport-plus-finance-aviation-and-transport\/\">\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\/23\/sal-saudi-logistics-to-lease-develop-air-cargo-facilities-at-riyadh-airport-plus-finance-aviation-and-transport\/&title=SAL Saudi Logistics to lease, develop air cargo facilities at Riyadh airport. Plus: Finance, aviation and transport\">\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=SAL+Saudi+Logistics+to+lease%2C+develop+air+cargo+facilities+at+Riyadh+airport.+Plus%3A+Finance%2C+aviation+and+transport+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F23%2Fsal-saudi-logistics-to-lease-develop-air-cargo-facilities-at-riyadh-airport-plus-finance-aviation-and-transport%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\/23\/sal-saudi-logistics-to-lease-develop-air-cargo-facilities-at-riyadh-airport-plus-finance-aviation-and-transport\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1877.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86477\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/sal-saudi-logistics-to-lease-develop-air-cargo-facilities-at-riyadh-airport-plus-finance-aviation-and-transport\/1877-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1877.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1877.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1877.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1877.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86476\" class=\"content-area-description single-story post-86476 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-aramco tag-elm tag-enterpriseam-ksa tag-general-authority-for-civil-aviation-gaca tag-monshaat tag-sal-saudi-logistics tag-transport-general-authority-tga 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\/.0d5451fb-b751-4db6-879b-4aa094fdd6f9.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SAL Saudi Logistics has secured an air cargo lease and development agreement from <\/strong><strong>Riyadh Airports Co <\/strong>that will see the Tadawul-listed cargo player lease a 90k sqm plot for 20 years at King Khaled International Airport\u2019s Cargo Village, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCN0SEtDe3qAHEs4ECuSDHWUKkJI4cB0q_vg6piqBQUcsH73hmdnaJR5bES9kuCpmKRMpiXa88a92iFjS7NoyhO3sBC1zHms9so9O0yOKcYA8dC6YjOh032y1w3oF4_9KDO2nB9HUyNAfwBg5Y9-nhxqF39PfOKWP62NYJ-s9Ob0BN22pfEq6MeNHk9wxHwh8h-8QLY-FXC6epb9oh8SRuUKJsFFLDW6Wy_KkGNdjv941QiDDGBhdJDa5JtiJXZHnOJC6mx3W1b-6jZ5CFxFwUkiN5C1HRNBVFyjHBVA2iXHWYYmTKGd_iAHcYT1iIxC3nY8EuyoXMSxZZ1Y0Sy5ErITtZL_hBDokvYrIq35kUQcHV7JBhBSih7b_fmTZ2o09dGVBZMcm3J275PyoSH2XH15wS2kiRnAxYmZyXuSuRsa4SKPxQ7tGs4gVaMUEZCZ2RZMl8voSoV_f8g2kmNLHN87unD19eiZLV\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MjYzL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMjkw\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>SAL will pay a total of SAR 458 mn in rent over the entire period of the binding agreement or a 4-6.5% share of revenues, depending on which is higher, it said. SAL expects lease cost reductions to come in somewhere around SAR 500 mn throughout the set 20-year period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>SAL Saudi Logistics <a target=\"_blank\" href=\"https:\/\/sal.sa\/en\/media\/news\/sal-saudi-logistics-services-and-menzies-aviation\" style=\"\" rel=\"noopener\">handles nearly all<\/a> of Saudi\u2019s inbound and outbound air cargo, making it the Kingdom\u2019s \u201clogistics services champion.\u201d Earlier this year, the cargo firm <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0fa6b973-ab95-43d0-a0a8-aab0789c94b2\" style=\"\" rel=\"noopener\">said it will invest<\/a> over SAR 12 mn to establish and develop a new cargo terminal at Madinah\u2019s Prince Mohammed bin Abdulaziz International Airport. The terminal would help boost capacity and operational efficiency at the airport.<\/p>\n<p class=\"tag-border-left\">TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong><strong> Transport General Authority has partnered up with the Marine<\/strong><strong> Training Academy at<\/strong><strong> Aramco to provide a training course aimed at accrediting marine examiners<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/Saudi_TGA\/status\/1792920787504017862\" style=\"\" rel=\"noopener\">post on X<\/a>. The five-day course \u2014 the first in the Kingdom \u2014 aims to qualify marine examiners to examine seafarers.<\/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 on to the Social <\/strong><strong>Development Bank\u2019s (SDB) Entrepreneurs Program to <\/strong><strong>support SMEs and entrepreneurs<\/strong> through providing them with financing solutions and facilitations, it said in a <a target=\"_blank\" href=\"https:\/\/www.monshaat.gov.sa\/ar\/node\/101695\" style=\"\" rel=\"noopener\">statement<\/a>. Under the agreement, Monsha\u2019at will provide training and consultancy services to SMEs and support entrepreneurs under the bank\u2019s program through its support hubs in Riyadh, Madinah, Jeddah and Al Khobar. SDB will be tasked with processing lending for SMEs, it said. The agreement is part of Monsha\u2019at\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ee93ba14-f14f-4737-b765-42f23fd3fa54\" style=\"\" rel=\"noopener\">Funding Week<\/a>.<\/p>\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The General Authority of Civil Aviation signed an MoU with PIF-owned digital security<\/strong><strong> firm Elm to deploy advanced technologies and artificial intelligence in its operations<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/ksagaca\/status\/1792981194218377283\" style=\"\" rel=\"noopener\">post on X<\/a>. No further details were provided.<\/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\/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\/elm\/\">Elm<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/general-authority-for-civil-aviation-gaca\/\">General Authority for Civil Aviation (GACA)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/monshaat\/\">Monsha\u2019at<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sal-saudi-logistics\/\">SAL Saudi Logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/transport-general-authority-tga\/\">Transport General Authority (TGA)<\/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=\"86478\" 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=\"86478\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/emerging-markets-credit-ratings-finally-on-the-rise\/\">\r\n                            Emerging markets\u2019 credit ratings finally on the rise                        <\/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\/23\/emerging-markets-credit-ratings-finally-on-the-rise\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/emerging-markets-credit-ratings-finally-on-the-rise\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/emerging-markets-credit-ratings-finally-on-the-rise\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Emerging markets\u2019 credit ratings finally on the rise&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/emerging-markets-credit-ratings-finally-on-the-rise\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/emerging-markets-credit-ratings-finally-on-the-rise\/&title=Emerging markets\u2019 credit ratings finally on the rise\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Emerging+markets%E2%80%99+credit+ratings+finally+on+the+rise+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F23%2Femerging-markets-credit-ratings-finally-on-the-rise%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/emerging-markets-credit-ratings-finally-on-the-rise\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1842.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86479\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/emerging-markets-credit-ratings-finally-on-the-rise\/1842-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1842.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1842.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1842.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1842.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86478\" class=\"content-area-description single-story post-86478 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-emerging-markets tag-enterpriseam-ksa tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.1e3f207b-3b10-474a-b5ee-d28eb9d4db62.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Sovereign credit ratings in the emerging markets are back on the up<\/strong> on the bank of hoped-for rate cuts, post-Covid recovery, and policy moves in select markets, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/emerging-market-credit-ratings-are-finally-looking-up-again-2024-05-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The newswire points to Egypt, Turkey, Brazil, Nigeria and Zambia as adding to the growing evidence that there\u2019s a turnaround in ratings after decades of downgrades.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Economies are in a very different place than they were during the pandemic: <\/strong>Three-quarters of sovereign credit rating movements in 2024 have been in a positive direction, while almost all were negative when we were all working from home during the pandemic, according to data from the Bank of America cited by Reuters.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The why: <\/strong>It varies by economy, Fitch Ratings\u2019 Ed Parker told the newswire. Some economies have benefited from a recovery following the pandemic and energy price spikes from Russia\u2019s invasion of Ukraine, while others have had a change of fortunes on the back of policy improvements, and frontier economies are reaping the rewards of their new-found access to debt markets, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In our part of the world: <\/strong>Egypt has had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8b7ded3a-e188-4a20-a95c-54d7ae389ddc\" style=\"\" rel=\"noopener\">Moody\u2019s<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70ab4109-b896-4fb8-9620-7d7ca7246084\/fitch-upgrades-egypt%25e2%2580%2599s-sovereign%253cmark%253e-credit%253c%2Fmark%253e-rating-outlook-to-positive\" style=\"\" rel=\"noopener\">Fitch Ratings<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5246f884-5ccd-4d4c-b396-7f100a7217d8\/s&amp;p-upgrades-egypt%25e2%2580%2599s%253cmark%253e-credit%253c%2Fmark%253e-outlook-to-positive\" style=\"\" rel=\"noopener\">S&amp;P Global Ratings<\/a> upgrade its sovereign credit outlook to positive since March 2024 \u2014 though none of the \u201cbig fbp three\u201d have upgraded Egypt\u2019s credit rating itself.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good news for sure, but EMs still have a long way to go: <\/strong>Ratings upgrades and better access to debt markets are obviously a positive sign, especially after a long period of high interest rates and a strong USD. But getting too excited about the ratings upgrades risks ignoring long-term trends in developing countries\u2019 debt markets.<\/p>\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Major Asian benchmarks slumped into the red this morning after the minutes of the US <\/strong><strong>Fed\u2019s latest meeting were released. <\/strong>Traders and bankers alike are concerned that the central bank is getting <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/23\/asia-markets.html\" style=\"\" rel=\"noopener\">\u201ccold feet on possible rate cuts\u201d<\/a> after data showed inflation was surprisingly stubborn. Of the big Asian indexes, only the Nikkei is in positive territory this morning. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> Nasdaq and S&amp;P futures were up overnight after Nvidia reported record earnings \u2014 but futures have the Dow headed for a lower open at the start of trading today. European futures declined overnight. <\/p>\n<p><a target=\"_blank\" id=\"t.407bbcc288cee8acc4efa28ca9234d9487e92a53\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,157<\/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: +1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,524<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: -1.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,845<\/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>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-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>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\">27,227<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +9.4%)<\/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>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\">8,973<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -6.3%)<\/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>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\">4,058<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,307<\/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: +11.3%)<\/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>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\">8,370<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +9.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,025<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +11.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 81.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.79<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,406<\/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>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 69,034<\/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\">-1.6% (YTD: +64.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI rose 0.3% yesterday <\/strong>on turnover of SAR 5.3 bn. The index is up 1.6% 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> Naseej (+9.8%), Gulf General (+6.7%) and MCDC (+6.0%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Amlak (-5.0%), Batic (-4.9%) and Al Jouf (-4.4%).<\/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 0.3% yesterday <\/strong>on turnover of SAR 36.7 mn. The index is up 9.4% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Riyadh Steel (+19.4%), Osool and Bakheet (+7.0%) and Naseej Tech (+6.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Bena (-23.4%), Future Care (-7.6%) and Dar Al Markabah (-6.2%)<\/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>Shareholders of Tadawul-listed chemicals producer Sahara International Petrochemical Company <\/strong><strong>(Sipchem) approved&nbsp;<\/strong><strong>transferring SAR 2.1 bn in statutory reserve<\/strong> to retained earnings as set in its 2023 financial statements, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMjY0EA_ODVPvyA3NMIgMyA3XNdREQAty-40\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDI5Ny9jb21wYW55U3ltYm9sLzIzMTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. They also extended the holding period for the 8.2 mn treasury shares for another 10 years from the approval date. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shareholders of Tadawul-listed jewelry maker L\u2019azurde have approved the board\u2019s <\/strong><strong>recommendation to distribute SAR 17.3 mn in dividends <\/strong>at SAR 0.3 per share for FY 2023, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMTA0FC_IDc0wiAzIDfcUVERALYCAyo!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDI5Mi9jb21wYW55U3ltYm9sLzQwMTEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The distribution date is set for Monday, 10 June. They also approved distributing interim dividends bi-annually or on a quarterly basis for FY 2024.<\/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\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86480\" 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=\"86480\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/23\/crown-prince-talks-gaza-ceasefire-with-frances-macron\/\">\r\n                            Crown Prince talks Gaza ceasefire with France\u2019s Macron                        <\/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\/23\/crown-prince-talks-gaza-ceasefire-with-frances-macron\/\" 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 Crown Prince and Macron also discussed means to push cooperation between the two countries forward. They also exchanged congratulations on Saudia <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/027bea23-9269-4073-8314-6a784852c0ed\" style=\"\" rel=\"noopener\">landing its largest aircraft order<\/a> in the Kingdom\u2019s history from European planemaker Airbus.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Foreign Minister Prince Faisal bin Farhan <\/strong><strong>arrived in Tehran yesterday <\/strong><strong>to attend <\/strong><strong>Iranian President Ibrahim Raisi\u2019s funeral<\/strong> who was killed in a deadly helicopter crash <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/40e89d69-9779-4229-b769-6b56e1d82e60\" style=\"\" rel=\"noopener\">earlier this week<\/a>, according to a statement by the <a target=\"_blank\" href=\"https:\/\/x.com\/KSAMOFA\/status\/1793385185024602245\" style=\"\" rel=\"noopener\">ministry on X<\/a>. He extended King Salman and the Crown Prince\u2019s condolences to his Iranian counterpart Ali Bagheri Kani and other officials.<\/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\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/iran\/\">Iran<\/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=\"86482\" 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\/23\/86482\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86482\" class=\"content-area-description single-story post-86482 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>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:\/\/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;\">JULY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4 July-25 August: (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/esportsworldcup.com\/\" style=\"\">Esports World Cup<\/a><\/span><span>, Boulevard Riyadh City, 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;\">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>US defense pact just weeks away, Blinken says | Regs on debt crowdfunding | GCC bank revenues dip | Tosyali eyes USD 5 bn steel plant.<\/p>\n","protected":false},"featured_media":86462,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-86461","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5eb44aaa-78c5-42bb-8171-86abd3d771d1","teaser":"US defense pact just weeks away, Blinken says | Regs on debt crowdfunding | GCC bank revenues dip | Tosyali eyes USD 5 bn steel plant.","photo_url":"https:\/\/ent.news\/2024\/4\/561.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fintech player Rasan prices IPO at top of the range - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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