{"id":86542,"date":"2024-05-27T00:00:00","date_gmt":"2024-05-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=86542"},"modified":"2025-12-14T18:12:26","modified_gmt":"2025-12-14T18:12:26","slug":"riyad-capital-sees-gdp-growth-picking-up","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/riyad-capital-sees-gdp-growth-picking-up\/","title":{"rendered":"Riyad Capital sees GDP growth picking up"},"content":{"rendered":"<section id=\"86544\" 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=\"86544\">\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\/27\/faisal-bin-farhan-arab-foreign-ministers-talk-gaza-in-brussels\/\">\r\n                            THIS MORNING: Faisal bin Farhan + Arab foreign ministers talk Gaza in Brussels                        <\/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\/27\/faisal-bin-farhan-arab-foreign-ministers-talk-gaza-in-brussels\/\" 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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We\u2019re very sorry for the inconvenience and hope to be back to our regular schedule tomorrow morning. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UP FIRST- Washington could resume deliveries of offensive weapons to Saudi <\/strong><strong>in the <\/strong><strong>\u201ccoming weeks,\u201d <\/strong>ending a three-year hiatus, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e2c327e4-31e9-4208-afcc-095c0a4ed762\" style=\"\" rel=\"noopener\">Financial Times<\/a> reported, citing US officials it says have knowledge of the situation. While the resumption of sales is not directly related to an anticipated Saudi-US defense pact, the paper says, it suggests an agreement is imminent, in our view. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- Officials in Riyadh and Washington are putting the final touches on a <\/strong><strong>series of agreements<\/strong> including a security and defense pact and another that could see us get US assistance building out the domestic nuclear power industry. We expect a third agreement will cover artificial intelligence and other advanced technologies.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- Arab foreign ministers led by Foreign Minister Faisal bin Farhan <\/strong><strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/KSAmofaEN\/status\/1794702870287401247?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\" style=\"\" rel=\"noopener\">are in<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/KSAmofaEN\/status\/1794702870287401247?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\" style=\"\" rel=\"noopener\">Brussels<\/a><\/strong><strong> for talks&nbsp;<\/strong><strong>with their 27 European Union counterparts. <\/strong>Expect Gaza to be the word of the day. The Arab FMs were in Paris over the weekend where they stressed the urgency of a ceasefire in Gaza during a meeting with French President Emmanuel Macron.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- <\/strong><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/saudi.smartdataseries.com\/#speakers\" style=\"\" rel=\"noopener\">Smart Data and AI Summit<\/a><\/strong><strong> gets underway in just a couple of hours at <\/strong><strong>Riyadh\u2019s <\/strong><strong>JW <\/strong><strong>Marriott Hotel.<\/strong> The two-day event will welcome some 40 keynote speakers, 300 \u201cpre-qualified\u201d experts in AI, IT and robotics from over 150 leading organizations in those fields to give their two cents on next-gen technology, digital transformation, smart urban development, the online economy, and the future of open data, among other issues. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Key speakers include: <\/strong><\/p>\n<ul>\n<li><strong>Isa Truchet<\/strong>, senior advisor to the assistant director general at the <strong>Saudi Data and AI <\/strong><strong>Authority<\/strong>; <\/li>\n<li><strong>Nayef Al-Otaibi<\/strong>, vice president and chief digital officer at <strong>Aramco<\/strong>; <\/li>\n<li><strong>Akram Nour<\/strong>, chief of digital transformation at the&nbsp;<strong>Economic Cities and Special Zones <\/strong><strong>Authority<\/strong>;<\/li>\n<li><strong>Eyad Buhuaiga<\/strong>, chief data and digital strategy officer at <strong>Saudi Electricity<\/strong>; <\/li>\n<li><strong>Faisal AlNasser<\/strong>, chief information officer at <strong>Almarai<\/strong>.<\/li>\n<\/ul>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>IPO WATCH #1- Bookbuilding for the retail tranche of Riyadh-based Saudi Manpower <\/strong><strong>Solutions <\/strong><strong>(Smasco) closes today<\/strong> as its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8a0c26ac-91ab-4953-9ea7-fb4b2e3dd793\/labor-agency%253cmark%253e-smasco%253c%2Fmark%253e-prices-ipo-at-the-top-of-the-range\" style=\"\" rel=\"noopener\">IPO on Tadawul\u2019s main market<\/a> pushes on. The institutional tranche of the labor agency\u2019s IPO drew in SAR 115 bn in orders, making it 128x oversubscribed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IPO WATCH #2- The final allocation of shares for Fakeeh Care Group is happening today<\/strong>, after its institutional offering closed with a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/49df4304-4dc9-4573-b7d6-1e6540d7469d\/%253cmark%253efakeeh%253c%2Fmark%253e-group-sets-final-ipo-price-at-the-top-of-the-range\" style=\"\" rel=\"noopener\">119x oversubscription rate<\/a>. Fakeeh has priced the transaction at the top of the range at SAR 57.50 per share, which would give the business a market cap of SAR 13.3 bn at the start of trading. The pricing means Fakeeh is set to raise SAR 2.9 bn from the offering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong>With more than one IPO in the market at the same time, strong oversubscription rates underline rising institutional appetite for new Saudi paper even as the Tadawul underperforms global markets: The all-share index is down 1% year to date and the MSCI Tadawul 30 is off5%, while US and European benchmarks are up 7-11% so far. Still, the TASI is doing better than the ADX (-7.8% for the year) and the DFM (-1.2%).<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Riyadh <\/strong>could see scattered showers tomorrow with a daytime high of 41\u00b0C and a low of 27\u00b0C. <strong>Makkah <\/strong>is sunny with a high of 45\u00b0C and a low of 26\u00b0C. Meanwhile, <strong>Jeddah<\/strong> is still windy, bringing a daytime high of 36\u00b0C and a low of 27\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=\"wwtt3\"><\/a> <strong>#1- Mining could be coming to AlUla:<\/strong> The Industry and Mineral Resources Ministry has approved a mechanism with the Royal Commission for AlUla (RCU) to grant mining licenses within an area of the heritage site outlined by the RCU, the ministry <a target=\"_blank\" href=\"https:\/\/x.com\/Jarrah_4\/status\/1794794497987280957\" style=\"\" rel=\"noopener\">said on X<\/a>. RCU planners will consider specific areas of mineral reserves of important minerals and ores as they plan projects. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Licensing requirements:<\/strong> Companies looking to obtain licenses should present an environmental impact study, develop a plan for rehabilitation of the exploration site and preserve water, environment and wildlife, according to the statement.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2-<\/strong><strong> Nomu-listed <\/strong><strong><a target=\"_blank\" href=\"https:\/\/watanisteel.sa\/en\/home\/\" style=\"\" rel=\"noopener\">Watani Iron Steel<\/a><\/strong><strong> has submitted a request to the exchange to <\/strong><strong>transfer to<\/strong><strong> Tadawul\u2019s main market<\/strong> after satisfying all the requirements, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/834azdrc\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. Watani has a market cap of SAR 501 mn, satisfying the SAR 300 minimum market cap requirement for issuers to list on the main market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The requirements in the nutshell: <\/strong>Issuers must have done business for a minimum of three years under the same management, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/listing\/become-an-issuer\" style=\"\" rel=\"noopener\">the exchange website<\/a>. They must also take a minimum stake of 30% to market, and have at least 200 public shareholders. The move would also require Watani to start publishing quarterly and annual financial statements post-listing.<\/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- <\/strong><strong>An unnamed \u201ccommercial establishment\u201d in Hafar Al Batin was forced to temporarily <\/strong><strong>shut <\/strong><strong>down its operations over suspected food poisoning<\/strong>, Hafr Al Batin Municipality said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/HafrbatinAmana\/status\/1794458242958934196\" style=\"\" rel=\"noopener\">post on X<\/a>. Health authorities have collected samples to determine the cause of a suspected outbreak in the city, the municipality said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government is sending a message on food safety: <\/strong>Earlier this month, officials <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7ae31205-58ed-4cfb-84e8-0e9deb8bd7af\" style=\"\" rel=\"noopener\">ordered<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7ae31205-58ed-4cfb-84e8-0e9deb8bd7af\" style=\"\" rel=\"noopener\">the recall<\/a> of Bon Tum mayonnaise after it traced the Hamburgini-linked food poisoning outbreak to the condiment brand. The move comes after a laboratory analysis by the Saudi Food and Drug Authority identified clostridium botulinum bacteria in the mayo used by the local burger chain. One person <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4f8c0a4d-68ec-47a3-b22d-411374abe3a6\" style=\"\" rel=\"noopener\">reportedly died<\/a> of food poisoning and more than 70 were made sick, with a number of them sent to the intensive care unit.<\/p>\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Travelers coming to Saudi from Europe for Hajj are encouraged to receive the <\/strong><strong>quadrivalent meningococcal vaccine<\/strong>, the European Center for Disease Prevention and Control said in a <a target=\"_blank\" href=\"https:\/\/www.ecdc.europa.eu\/en\/news-events\/cases-invasive-meningococcal-disease-reported-travellers-returning-kingdom-saudi-arabia\" style=\"\" rel=\"noopener\">statement<\/a>. The recommendation comes after the agency said it was monitoring 12 cases of pilgrims diagnosed with the invasive meningococcal disease after performing Umrah.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#2- T<\/strong><strong>he deadline to register for school bus services for the upcoming academic <\/strong><strong>year is<\/strong><strong> Monday, 10 June<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.okaz.com.sa\/news\/local\/2162444\" style=\"\" rel=\"noopener\">Okaz reports<\/a>. The deadline applies to all areas and schools across the country. Parents can register for the services via the Education Ministry\u2019s <a target=\"_blank\" href=\"https:\/\/noor.moe.gov.sa\/Noor\/login.aspx\" style=\"\" rel=\"noopener\">Noor<\/a> e-platform for SAR 200 per year. Students with disabilities and children from social security families are exempt from transportation fees. <\/p>\n<p class=\"tag-border-left\">DATA POINT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Kingdom\u2019s fashion industry was valued at SAR 92.3 bn in the first quarter of 2024<\/strong>, small and medium enterprises regulator Monsha\u2019at said in a <a target=\"_blank\" href=\"https:\/\/www.monshaat.gov.sa\/ar\/node\/105938\" style=\"\" rel=\"noopener\">statement<\/a>. Spending on local brands came in at SAR 46.9 bn, while spending on imported fashion brands totalled SAR 27.4 bn. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><strong>SPORTS-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Hilal will go <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2110818\" style=\"\" rel=\"noopener\">head to head<\/a><\/strong><strong>against rival Al Nassr on<\/strong><strong> Friday<\/strong><strong> in the Saudi King\u2019s Cup final <\/strong><strong>in Jeddah<\/strong>. Al Hilal has its eyes on the treble after being officially crowned the Saudi Pro League title last week with an unbeaten streak and securing the Saudi Super Cup title last month. Officials are yet to specify when kickoff will take place.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to subscribe? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday before 7am Riyadh time \u2014 without charge, thanks to our friends at Cenomi.<br \/><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a reasonably quiet morning in the global business press<\/strong>, as is often the case on Mondays \u2014 and even more so when it\u2019s a long weekend: Markets are closed today in both the United States (Memorial Day) and the UK (spring bank holiday). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hamas fired rockets at Tel Aviv yesterday for the first time since January<\/strong> in what defense analysts are saying is a demonstration of resilience, the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-palestinians-hamas-war-news-05-26-2024-eb25eb70d2c7b9e6bcd0497060eccbca\" style=\"\" rel=\"noopener\">Associated Press<\/a> reports. Eight rockets were launched from Rafah and several were intercepted, the Israeli military said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel, in turn, killed dozens<\/strong> in <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/more-aid-trucks-expected-roll-into-gaza-2024-05-26\/\" style=\"\" rel=\"noopener\">airstrikes<\/a> on Rafah hours after Hamas\u2019 attacks. At least 35 people were killed and dozens injured. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt5\"><\/a> <strong>Negotiations due to resume in Cairo tomorrow: <\/strong>Another round of ceasefire and hostage swap negotiations is due to kick off in Cairo tomorrow, <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/middleeast\/live-news\/israel-hamas-war-gaza-news-05-26-24#h_be67fff0755ea4c2619ceafcaa788a8d\" style=\"\" rel=\"noopener\">CNN<\/a> and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/mediated-israel-hamas-talks-hostage-deal-expected-next-week-source-says-2024-05-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a> report, citing unnamed officials. Egyptian and Qatari mediators will lead the talks with US involvement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aid delivery resumes:<\/strong> Some 200 aid trucks and four fuel trucks departed from Egypt to enter Gaza through the Kerem Shalom crossing yesterday, bypassing the Rafah crossing that has been closed for several weeks, <a target=\"_blank\" href=\"https:\/\/alqaheranews.net\/news\/81632\/-%D8%B4%D8%A7%D8%AD%D9%86%D8%A9-%D8%AA%D9%86%D8%B7%D9%84%D9%82-%D9%85%D9%86-%D9%85%D8%B9%D8%A8%D8%B1-%D8%B1%D9%81%D8%AD-%D8%A5%D9%84%D9%89-%D9%83%D8%B1%D9%85-%D8%A3%D8%A8%D9%88-%D8%B3%D8%A7%D9%84%D9%85-%D8%AA%D9%85%D9%87%D9%8A%D8%AF%D8%A7-%D9%84%D8%AF%D8%AE%D9%88%D9%84-%D8%BA%D8%B2%D8%A9\" style=\"\" rel=\"noopener\">Al Qahera News<\/a> reports. <\/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>A bad morning for nervous flyers: <\/strong>The press is picking up on the idea that significant in-flight turbulence is becoming more common thanks to global warming after a dozen people were injured yesterday on a Qatar Airways flight that ran into turbulence over Turkey. The incident came just days after dozens were hurt in a similar Singapore Airlines incident. <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-26\/qatar-airways-jet-encounters-severe-turbulence-leaving-12-hurt\" style=\"\" rel=\"noopener\">The story<\/a> is all front pages this morning.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Signs of the times: Hedge fund managers are blaming slow fundraising on the slow pace <\/strong><strong>of exits by their counterparts in private equity.<\/strong> Both rely on pension plans, foundations, and endowments for assets under management, but with PE exits slowing, limited partners have less cash to put into hedge funds and other asset classes, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/62b1db7b-3e78-47ca-865e-02cc404915f0\" style=\"\" rel=\"noopener\">Financial Times<\/a> writes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Keep an eye on: <\/strong>Closing arguments in <strong>Donald Trump\u2019s hush-money trial<\/strong>, which begin on Tuesday, and <strong>parliamentary elections in South Africa<\/strong>, which start on Wednesday. <\/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 take place<\/strong><strong> this 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><a target=\"_blank\" href=\"https:\/\/www.hashgrowth.org\/events\/growth-summit-2024-riyadh\/#getinvite\" style=\"\" rel=\"noopener\">The<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.hashgrowth.org\/events\/growth-summit-2024-riyadh\/#getinvite\" style=\"\" rel=\"noopener\">#Growth Summit<\/a><\/strong><strong> is set to kick off on Wednesday, 5 June<\/strong>, bringing together marketing, product and growth experts at the InterContinental in Riyadh. You can request your invite <a target=\"_blank\" href=\"https:\/\/www.hashgrowth.org\/events\/growth-summit-2024-riyadh\/#getinvite\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/gemtechforum.com\/\" style=\"\" rel=\"noopener\">Global EV and Mobility Tech Forum<\/a><\/strong><strong> will open its doors on Wednesday, 10 July to <\/strong><strong>Thursday, 11 July at the Riyadh International Convention and Exhibition Center. <\/strong>The event will bring together policymakers, NGOs, and startups. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi will<\/strong><strong> host the UN Trade and Development Global Supply Chain Forum in <\/strong><strong>2026<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=230524\" style=\"\" rel=\"noopener\">statement<\/a> by Saudi Ports Authority (Mawani). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The World Water Forum will take place in Riyadh in 2027<\/strong>under the theme \u201cTogether for a better tomorrow,\u201d state-run news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2109925\" style=\"\" rel=\"noopener\">SPA<\/a> reports. <\/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\/faisal-bin-farhan\/\">Faisal bin Farhan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fakeeh-care-group\/\">Fakeeh Care Group<\/a>\n                <!-- <span 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alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15542.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86547\" 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=\"86547\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/a-brighter-outlook\/\">\r\n                            Riyad Capital sees non-oil activity fueling an economic rebound                        <\/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        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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2091.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86548\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/a-brighter-outlook\/2091-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2091.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2091.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2091.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2091.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86547\" class=\"content-area-description single-story post-86547 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-ksa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.93441639-2b20-4b11-b81c-184d473b4e3d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Riyad Capital expects the domestic economy to rebound this year and next <\/strong><strong>as<\/strong><strong> non-oil activity picks up at a faster pace<\/strong>, it said in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2068.pdf\" style=\"\" rel=\"noopener\">Saudi Economic Chartbook report for 2Q 2024 (pdf)<\/a>. The firm sees GDP growth bouncing back to a 2.3% clip in 2024 before accelerating further to 5.8% in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the economy currently stands:<\/strong> GDP shrank 1.8% y-o-y in 1Q 2024, marking the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/68931201-4c28-44b8-a4ed-eaf5a6ff4e7d\" style=\"\" rel=\"noopener\">third<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/68931201-4c28-44b8-a4ed-eaf5a6ff4e7d\" style=\"\" rel=\"noopener\">consecutive quarter<\/a> that the economy has been in contraction. The downturn came on the back of a 10.6% decline in oil activity, which accounts for c. 40% of GDP (and about 75% of government revenues).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The FinMin remains more optimistic:<\/strong> The Finance Ministry is targeting GDP growth of 4.4% for the current fiscal year, Finance Minister Mohamed Al Jadaan <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/05ff811b-9eff-456e-ac29-1f92de557a06\" style=\"\" rel=\"noopener\">said in December<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But Riyad Capital\u2019s forecasts are on par with other outfits:<\/strong> The IMF revised its 2024 growth forecast for the Kingdom down to 2.6% <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ade01bc1-2b8d-4dba-b4ed-405119b724c5\" style=\"\" rel=\"noopener\">in April<\/a>, pointing to the combined effects of lower oil prices and production cuts. The Washington-based lender\u2019s revision came on the heels of the World Bank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6c7b50e3-505d-4cec-99bb-edc2bbe7119d\" style=\"\" rel=\"noopener\">cutting its forecast<\/a> for 2024 growth to 2.5%, down from the 4.1% it had expected in January.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fiscal policy + investments will drive non-oil growth: <\/strong>A \u201cgrowth-oriented\u201d fiscal policy along with increased investment spending will help enable robust growth for non-oil activities, Riyad Capital says, expecting the non-oil economy to grow 4.8% this year and 5.2% next year. Non-oil activity <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3a993e5f-dde8-4b27-a6a6-d31477bc7b12\" style=\"\" rel=\"noopener\">rose 4.4%<\/a> y-o-y last year. The oil sector\u2019s GDP contribution would be \u201cmildly negative\u201d this year at -2.2% but will \u201crecord substantial growth of 8.7% in 2025,\u201d Riyad Capital said. Its forecasts come on the back of expectations of increased oil production above 10 mn barrels per day in the coming 18 months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More budget deficits: <\/strong>Riyad Capital sees a budget deficit of 3.0% of GDP this year, which it expects to narrow to 1.8% next year due to the \u201cexpected expansionary fiscal policy pursued by the government in the next two years.\u201d It sees the current account balance to grow further to 3.7% of GDP this year and 4.9% of GDP in 2025 due to projections of higher oil export revenues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The Kingdom reported <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c2fc3553-9b62-45b2-976c-e59edea1878e\" style=\"\" rel=\"noopener\">its sixth consecutive quarter<\/a> with a budget deficit, posting a deficit of SAR 12.4 bn in the first quarter of 2024 \u2014 four times higher than its shortfall in 1Q 2023. Officials are accepting modest fiscal deficits as the price of pursuing growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outlook on inflation + interest rates:<\/strong> Riyad Capital expects inflation to cool to 2.0% in 2024 before it accelerates slightly to 2.4% in 2025. Price growth came in at an average rate of 2.3% last year. The US Federal Reserve is set to slash interest rates two times in the second half of this year, with four rate cuts in the cards throughout 2025, Riyad Capital suggests. Saudi Central Bank Sama would mirror rate cuts due to the currency being pegged to the USD by an overall 150 basis points by the end of 2025, the firm said.<\/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\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86549\" 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=\"86549\">\r\n            \r\n             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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2079.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86550\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/pif-is-one-step-closer-to-becoming-hadeeds-new-owner\/2079-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2079.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2079.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2079.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2079.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86549\" class=\"content-area-description single-story post-86549 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam-ksa tag-hadeed tag-ma-watch tag-public-investment-fund-pif tag-sabic 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\/.f44e59f3-f4ab-43ed-98a1-cddf0599f4d5.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Sabic nears completion of Hadeed sale:<\/strong> Petrochemicals giant Sabic has obtained all necessary approvals and satisfied conditions precedent to close the sale of its steel subsidiary Hadeed to the Public Investment Fund (PIF), 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-oyMjA0EA_ODVPvyA3NMIgMyA3XNdREQDnhkeb\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDM4MC9jb21wYW55U3ltYm9sLzIwMTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Sabic has also completed the transfer of the full ownership of Hadeed to the PIF, it added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>The transaction \u2014 which has an enterprise value of SAR 12.5 bn \u2014 should close in the second half of this year. The transaction will close with a \u201ccompletion accounts mechanism\u201d \u2014 in finance-speak, that means the price PIF will pay Hadeed will ultimately be calculated based on Hadeed\u2019s financials at the time of close.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sabic\u2019s expectations:<\/strong> It said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/927c9005-50b0-4a1f-b4e5-599628a82d8b\" style=\"\" rel=\"noopener\">earlier this year<\/a> that it expects the sale of its steel subsidiary Hadeed to the PIF to draw in USD 1.7-1.9 bn upon its completion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the sale:<\/strong> Sabic <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0c9fcbe7-3ba2-4617-8dfc-49c36ec16d71\" style=\"\" rel=\"noopener\">agreed last year<\/a> to sell Hadeed to PIF in a bid to \u201coptimize its portfolio and focus on its core business\u201d and contribute to the growth of several sectors including renewables and mining. It said the divestment also aligns with the sovereign fund\u2019s efforts to progress the country\u2019s industrial development and meet growing local demand for steel. Officials had initially hoped to finalize the sale in 1H 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Hadeed:<\/strong> Sabic\u2019s steels unit focuses on manufacturing steel products, including reinforcing bar, coiled wire, billets, slabs, sections, hot and cold rolled coil, galvanized coil, preprinted coil and hot film laminated coil.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The divestment was among factors leading Sabic to its first net-loss ever:<\/strong> Sabic <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/69530b7e-7a60-4565-8b04-3d3ab9f60b41\/%253cmark%253esabic%253c%2Fmark%253e-has-turned-in-what-might-be-its-first-ever-net-loss\" style=\"\" rel=\"noopener\">reported<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/69530b7e-7a60-4565-8b04-3d3ab9f60b41\/%253cmark%253esabic%253c%2Fmark%253e-has-turned-in-what-might-be-its-first-ever-net-loss\" style=\"\" rel=\"noopener\">a net loss<\/a> of SAR 2.8 bn in 2023 in what was the petrochemical giant\u2019s first-ever net loss. The losses came partly due to discontinued operations after the divestment of its steel subsidiary Hadeed.<\/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\/hadeed\/\">Hadeed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sabic\/\">SAbic<\/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=\"86551\" 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=\"86551\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/mawani-dp-world-break-ground-on-jeddah-islamic-port-logistics-park\/\">\r\n                            Mawani + DP World begin construction on Jeddah Islamic Port logistic park                        <\/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\/27\/mawani-dp-world-break-ground-on-jeddah-islamic-port-logistics-park\/\" 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\/27\/mawani-dp-world-break-ground-on-jeddah-islamic-port-logistics-park\/')\">\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\/27\/mawani-dp-world-break-ground-on-jeddah-islamic-port-logistics-park\/\">\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=Mawani + DP World break ground on Jeddah Islamic Port logistics park&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/mawani-dp-world-break-ground-on-jeddah-islamic-port-logistics-park\/\">\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\/27\/mawani-dp-world-break-ground-on-jeddah-islamic-port-logistics-park\/&title=Mawani + DP World break ground on Jeddah Islamic Port logistics park\">\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=Mawani+%2B+DP+World+break+ground+on+Jeddah+Islamic+Port+logistics+park+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F27%2Fmawani-dp-world-break-ground-on-jeddah-islamic-port-logistics-park%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\/27\/mawani-dp-world-break-ground-on-jeddah-islamic-port-logistics-park\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2039.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86552\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/mawani-dp-world-break-ground-on-jeddah-islamic-port-logistics-park\/2039-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2039.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2039.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2039.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2039.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86551\" class=\"content-area-description single-story post-86551 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-dp-world tag-infrastructure tag-investment-watch tag-logistics tag-saudi-ports-authority 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\/.af71a61f-12a1-48ec-9dfb-09c328b09086.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi Ports Authority (Mawani) and Dubai-based&nbsp;<\/strong><strong>DP World broke ground on <\/strong><strong>a SAR 900 mn logistics park at Jeddah Islamic Port<\/strong>, according to a Dubai Media Office <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/26-05\/news-articledp-world-and-mawani-break-ground\" style=\"\" rel=\"noopener\">statement<\/a>. The new storage and distribution hub, which is set to boost trade volumes in the Kingdom and the region, is set to open in 2Q 2025. The project will be developed in two phases, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The 415k square meter greenfield development is set to become Saudi\u2019s largest logistics <\/strong><strong>park<\/strong>, featuring 185k square meters of warehouse space and a multipurpose storage yard. It will also include 20 MW of installed rooftop solar. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The logistics park will provide importers and exporters with numerous benefits<\/strong>, such as services linking port operations to last-mile activities, access to bonded and unbonded zones, temperature-controlled storage, import and export consolidation centers, and various other value-added services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jeddah Logistics Park is being developed under a 30-year concession worth SAR 500 mn <\/strong><strong>(USD 133.33 mn) granted to DP World by Mawani in 2022<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/www.dpworld.com\/news\/releases\/dpworld-and-the-saudi-ports-authority-announce-jeddah-logistics-park\/\" style=\"\" rel=\"noopener\">earlier release<\/a>. Mawani and DP World are partnering on another 30-year concession for DP World at the South Container Terminal. These two projects represent a total investment of almost SAR 4 bn (USD 1 bn), according to the statement.<\/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\/dp-world\/\">DP World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-ports-authority\/\">Saudi Ports Authority<\/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=\"86553\" 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=\"86553\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/horizon-educational-sets-final-nomu-ipo-pricing\/\">\r\n                            Horizon Educational wraps up its IPO book-building                        <\/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\/27\/horizon-educational-sets-final-nomu-ipo-pricing\/\" 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\/27\/horizon-educational-sets-final-nomu-ipo-pricing\/')\">\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\/27\/horizon-educational-sets-final-nomu-ipo-pricing\/\">\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=Horizon Educational sets final Nomu IPO pricing&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/horizon-educational-sets-final-nomu-ipo-pricing\/\">\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\/27\/horizon-educational-sets-final-nomu-ipo-pricing\/&title=Horizon Educational sets final Nomu IPO pricing\">\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=Horizon+Educational+sets+final+Nomu+IPO+pricing+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F27%2Fhorizon-educational-sets-final-nomu-ipo-pricing%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\/27\/horizon-educational-sets-final-nomu-ipo-pricing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1386.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86554\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/horizon-educational-sets-final-nomu-ipo-pricing\/1386-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1386.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1386.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1386.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1386.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86553\" class=\"content-area-description single-story post-86553 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-capital-markets tag-education tag-enterpriseam-ksa tag-horizon-educational tag-ipo-watch tag-nomu 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\/.66288d0c-dfd1-4a56-b00d-6f525ab15ed5.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Horizon Educational priced its Nomu IPO at the top of its indicative price <\/strong><strong>range<\/strong>, setting the final price at SAR 54 per share, according to <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\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFSklLSUtVUW9ncFJJa0EhIS9ZUFVFQUFBSUlFTUVDS0lFQUdJR09JT0lCSkZKRkJKTkROREJORUxMSEhQSFBMSEFnb2dvckFzQ0FBISEvNEpDaWpLMWJHTGppRUVwTWhUVlVrNUNpbXBwektETmJ0WmJPYW5tdDJzdGd0U0txb3lRIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9lbi9jb21wYW55U3ltYm9sLzEwMjQvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMzcz\/\" style=\"\" rel=\"noopener\">a filing to Tadawul<\/a>. The Riyadh-based school operator\u2019s offering was6.8x oversubscribed, it said in the filing. There is no publicly available information on when the company will ring the opening bell on the exchange.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The company is taking a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c609efa1-f49e-4b39-a413-287222db4ec3\/%253cmark%253ehorizon-educational%253c%2Fmark%253e-inches-closer-to-an-ipo-on-nomu\" style=\"\" rel=\"noopener\">20% stake<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c609efa1-f49e-4b39-a413-287222db4ec3\/%253cmark%253ehorizon-educational%253c%2Fmark%253e-inches-closer-to-an-ipo-on-nomu\" style=\"\" rel=\"noopener\">to Tadawul\u2019s<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c609efa1-f49e-4b39-a413-287222db4ec3\/%253cmark%253ehorizon-educational%253c%2Fmark%253e-inches-closer-to-an-ipo-on-nomu\" style=\"\" rel=\"noopener\">parallel market<\/a> Nomu by issuing 500k new shares to finance its expansion plans, acquire new branches, and ramp up its campus capacities. <\/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 would allow the company to raise SAR 27 mn in IPO proceeds, and would give it a post-IPO market cap of SAR 135 mn, according to our calculations. Issuers on Nomu are required to have a minimum post-listing market cap of SAR 10 mn, while issuers on main market Tadawul must meet a minimum of SAR 300 mn post-listing market cap.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- Yaqeen Capital<\/strong> is quarterbacking the transaction as financial advisor and lead manager, while <strong>RSM<\/strong> is providing counsel. Receiving agents include Alistithmar Capital, Alinma Investment, SNB Capital, AlJazira Capital, Riyadh Capital, ANB Capital, Albilad Capital, Al Rajhi Capital, Derayah, and Saudi Fransi Capital.<\/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\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/horizon-educational\/\">Horizon Educational<\/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\/nomu\/\">Nomu<\/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=\"86555\" 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=\"86555\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/leaf-global-kicks-off-bookbuilding-for-nomu-debut\/\">\r\n                            Subscription for Leaf Global\u2019s Nomu IPO commenced with a price range of SAR 46-50 a piece                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1386.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86556\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/leaf-global-kicks-off-bookbuilding-for-nomu-debut\/1386-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1386.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1386.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1386.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1386.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86555\" class=\"content-area-description single-story post-86555 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-alkhair-capital tag-enterpriseam-ksa tag-ipo-watch tag-leaf-global-environmental-services tag-nomu 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\/.8b8efec6-95ae-425b-b64a-a069524396d5.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Leaf Global Environmental Services is guiding on a price range of SAR <\/strong><strong>46-50 per <\/strong><strong>share <\/strong><strong>for its IPO on parallel market Nomu<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDBUsIwEIafxUOv3S00oXqrAmEQhmJVSi5MqjF0bJNOCXZ4ewNc7Ayie8vs9__fToBDBlyLr0IJWxgtSvdec7ohMcXeJMIFG_dGuBzf3i-HIxbgYwirLoBpQhyQzPszfEKGFPh_8vjLxPh3nneRCxecgGuKqxI2gGcHDH4oXh9CpLgI2XwWBYwQSKWGKXBVmvz8aVtr6zsPPbTiXbT70nOWN1PVQh_SQ5UbBwVI6BGNdd6PFPBGfshGNv6-cctjfncqaNvWV8aoUvquwPVciGzNzkLWJaGuXjIskk-2iixZxzfftQvPgA!!\/dz\/d5\/L0lDU0lLVUtVSkNncFJDZ3BSQ2lDbEVLSUtVU0ovWUJVRUFBQUlJTUlFQUNJQ0tJS0lHT0JPQkdPSkZKRkdKTk5ETkRMSUVDTkhIUEhQTEhBb0VFSW9FTUEhLzRKQ2lqc1l1T0lRU2t5RkpOUlRrS2FhaG10MnN0bk5Uelc3V1d3V29wVlVZb0EhIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy92aWV3L25vcm1hbC9BTk5PVU5DRU1FTlRfTlVNQkVSLzgwMzc1L2NvbXBhbnlTeW1ib2wvMTA1Ni9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvYW5JZC9lbg!!\/\" style=\"\" rel=\"noopener\">a filing to the exchange<\/a>. The Jeddah-based environment consultant is taking a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0cc58c0f-fd29-427c-a17b-d7d08cd22820\/three-more-companies-line-up-to-list-on-nomu,-tadawul%25e2%2580%2599s-parallel-market\" style=\"\" rel=\"noopener\">30% stake<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0cc58c0f-fd29-427c-a17b-d7d08cd22820\/three-more-companies-line-up-to-list-on-nomu,-tadawul%25e2%2580%2599s-parallel-market\" style=\"\" rel=\"noopener\">to market<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:&nbsp;<\/strong>Qualified investors can place orders <a target=\"_blank\" href=\"https:\/\/offer.alkhaircapital.com.sa\/TTS-RE\/index.html#\/investor\" style=\"\" rel=\"noopener\">here<\/a> for a minimum of 10 shares and a maximum of 250k shares each until this Thursday, 30 May. Final allotment of shares is slated for Thursday, 6 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Post-IPO ownership structure + lock-up period:<\/strong> The ownership of the two substantial shareholders will settle at a combined 70% stake after the sale, down from 100%. Their shares will remain locked up for a period of 12 months from the first day of trading.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Proceeds + market cap: <\/strong>At the top of the range, the pricing would see it raise up to SAR 75 mn, and give it a post-IPO market cap of up to SAR 250 mn, according to our calculations. Some SAR 3 mn of the offering\u2019s proceeds will be used to cover the offering\u2019s expenses, with the remainder set to be divided between the selling shareholders on a pro rata basis, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2053.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>ADVISORS-<\/strong><strong>Al Khair Capital<\/strong> is quarterbacking the transaction as financial advisor and lead manager, while receiving banks include SNB Capital, Al Rajhi Capital, Saudi Fransi Capital, Riyad Capital, Albilad Capital, AlJazira Capital, Alinma Investment and Derayah Financial.<\/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\/alkhair-capital\/\">Alkhair Capital<\/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\/leaf-global-environmental-services\/\">Leaf Global Environmental Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nomu\/\">Nomu<\/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=\"86557\" 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=\"86557\">\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\">AVIATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/riyadhs-king-khalid-international-airport-claims-top-spot-among-saudi-airports\/\">\r\n                            Riyadh\u2019s King Khalid International Airport beats Jeddah airport to claim top spot in April                        <\/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\" 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  <\/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\/27\/riyadhs-king-khalid-international-airport-claims-top-spot-among-saudi-airports\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1740.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86558\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/riyadhs-king-khalid-international-airport-claims-top-spot-among-saudi-airports\/1740-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1740.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1740.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1740.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1740.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86557\" class=\"content-area-description single-story post-86557 post type-post status-publish format-standard has-post-thumbnail hentry category-aviation tag-aviation tag-enterpriseam-ksa tag-general-authority-of-civil-aviation-gaca tag-king-abdulaziz-international-airport tag-king-fahd-international-airport tag-king-khalid-international-airport tag-prince-mohammed-bin-abdulaziz-international-airport 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\/.bb37910a-11a4-4492-b0ef-276b9c93245a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>King Khalid International Airport in Riyadh claimed the top spot in April <\/strong><strong>among <\/strong><strong>airports <\/strong><strong>catering to 15 mn or more passengers annually<\/strong>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/81ab455c-9ab0-4db5-8f9d-475f05efe705\" style=\"\" rel=\"noopener\">dethroning<\/a> (by a slim margin) King Abdulaziz International Airport in Jeddah from the top spot it had claimed the previous month, the General Authority of Civil Aviation (GACA) said in its <a target=\"_blank\" href=\"https:\/\/gaca.gov.sa\/web\/ar-sa\/news\/translation-of-ar_sa-26-may-2024-_20922\" style=\"\" rel=\"noopener\">monthly report<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The methodology:<\/strong> The aviation watchdog tracks 11 metrics on passenger experience, including flight delays, check-in, security, passport and customs control, asset availability, flight delays and assistance services for individuals with limited mobility.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> In the 5-15 mn passenger category, King Fahd International Airport in Dammam led the pack, followed by Madinah\u2019s Prince Mohammed bin Abdulaziz International Airport. Abha International Airport in Asir ranked first in the 2-5 mn passenger category, followed by King Abdullah bin Abdulaziz International Airport in Jizan. Finally, in the category for airports catering to fewer than 2 mn passengers per year, Al Qaisumah-Hafar Al Batin Airport topped the list, outperforming peers with the least waiting time for departure flights.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Domestic airports category:<\/strong> Arar Domestic Airport came in first, outperforming peers by delivering shorter wait times for departure and arrival flights.<\/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\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/general-authority-of-civil-aviation-gaca\/\">General Authority of Civil Aviation (GACA)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/king-abdulaziz-international-airport\/\">King Abdulaziz International Airport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/king-fahd-international-airport\/\">King Fahd International Airport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/king-khalid-international-airport\/\">King Khalid International Airport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/prince-mohammed-bin-abdulaziz-international-airport\/\">Prince Mohammed bin Abdulaziz International Airport<\/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=\"86559\" 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=\"86559\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/sama-releases-draft-principles-on-compliance-and-internal-audit-at-finance-and-refinance-companies\/\">\r\n                            Sama releases draft principles on compliance and internal audit at finance and refinance companies                        <\/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\/27\/sama-releases-draft-principles-on-compliance-and-internal-audit-at-finance-and-refinance-companies\/\" 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\/27\/sama-releases-draft-principles-on-compliance-and-internal-audit-at-finance-and-refinance-companies\/')\">\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\/27\/sama-releases-draft-principles-on-compliance-and-internal-audit-at-finance-and-refinance-companies\/\">\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=Sama releases draft principles on compliance and internal audit at finance and refinance companies&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/sama-releases-draft-principles-on-compliance-and-internal-audit-at-finance-and-refinance-companies\/\">\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\/27\/sama-releases-draft-principles-on-compliance-and-internal-audit-at-finance-and-refinance-companies\/&title=Sama releases draft principles on compliance and internal audit at finance and refinance companies\">\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=Sama+releases+draft+principles+on+compliance+and+internal+audit+at+finance+and+refinance+companies+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F27%2Fsama-releases-draft-principles-on-compliance-and-internal-audit-at-finance-and-refinance-companies%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\/27\/sama-releases-draft-principles-on-compliance-and-internal-audit-at-finance-and-refinance-companies\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1707.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86560\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/sama-releases-draft-principles-on-compliance-and-internal-audit-at-finance-and-refinance-companies\/1707-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1707.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1707.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1707.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1707.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86559\" class=\"content-area-description single-story post-86559 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-enterpriseam-ksa tag-istitlaa tag-regulation-watch tag-saudi-central-bank-sama 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\/.45efbc7c-08c4-41d8-b2bf-d67bede613b5.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Saudi Central Bank (Sama) has made public draft principles for <\/strong><strong>compliance and <\/strong><strong>internal auditing at finance and refinance companies <\/strong>operating in the Kingdom, <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2093.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2094.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a>. The proposed drafts, which come under the central bank\u2019s broader efforts to support the local financial sector, have been put up on the government\u2019s survey platform <a target=\"_blank\" href=\"https:\/\/istitlaa.ncc.gov.sa\/en\/Finance\/SAMA\/ComplianceFinanceCompanies\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Istitlaa<\/a> for public consultation until Tuesday, 25 June.<\/p>\n<p class=\"tag-border-left\">COMPLIANCE FUNCTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch: <\/strong>These principles aim to create a regulatory framework for compliance for finance and refinance companies to help bolster internal control. They also aim to set minimum provisions to help measure firms\u2019 compliance and audit progress. They will come into effect six months following their publication on the central bank\u2019s website. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The proposed regulations include: <\/strong><\/p>\n<ul>\n<li>Stipulations that the companies\u2019 board of directors must ensure there is an <strong>active <\/strong><strong>compliance unit independent from other departments<\/strong> within the company. The unit would be led by a compliance officer whose appointment and resignation are subject to a non-objection decision from Sama. The board must also sign off on a written compliance policy that is aligned with Sama\u2019s standards, and review periodic compliance reports;<\/li>\n<li>Requirements for audit committees to ensure the implementation and effectiveness of a<strong>written compliance policy<\/strong>. They would also have a say in the appointment and evaluation of the compliance officer, and must approve the company\u2019s annual compliance plan;<\/li>\n<li>Executive management must <strong>define and clarify the role of the independent <\/strong><strong>compliance unit<\/strong>, and prepare a compliance policy that would be subject to approval by the board;<\/li>\n<li>The compliance unit would oversee and supervise the company\u2019s rate of compliance, and would be tasked with explaining relevant rules and identifying risks by implementing risk-based compliance programs;<\/li>\n<li>The unit would also be tasked with drafting internal policies to <strong>fight money laundering<\/strong>, funding of terrorism, and fraud, and report to Sama in case of any violations or irregularities resulting from non-compliance.<\/li>\n<\/ul>\n<p class=\"tag-border-left\">REGS ON INTERNAL AUDITORS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The regulations, in a nutshell:<\/strong><\/p>\n<ul>\n<li>The company\u2019s board must ensure the independence and objectivity of its <strong>internal and <\/strong><strong>external auditor<\/strong>. It should also ensure the sufficiency of human and financial resources for internal auditors depending on the company\u2019s size and business volume;<\/li>\n<li>Executive management must grant the <strong>internal audit unrestricted access to company <\/strong><strong>records<\/strong>, personnel, and premises, and ensure that it has the power to review and access necessary information;<\/li>\n<li>Executive management must put metrics and review mechanisms in place to <strong>monitor <\/strong><strong>and evaluate internal<\/strong><strong>audit functions<\/strong>;<\/li>\n<li>The company is mandated to prepare a periodic <strong>management report on internal audit <\/strong><strong>reviews<\/strong>, which must be submitted either quarterly or annually to the audit committee;<\/li>\n<li><strong>External evaluations<\/strong> of the internal audit activities must be made at least once every five years. <\/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\/istitlaa\/\">Istitlaa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-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=\"86561\" 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=\"86561\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/red-sea-international-appoints-new-chairman\/\">\r\n                            Red Sea International names new chairman                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2021.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86562\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/red-sea-international-appoints-new-chairman\/2021-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2021.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2021.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2021.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2021.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86561\" class=\"content-area-description single-story post-86561 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-ksa tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.01bf0d07-82cc-4a9d-b52c-87a79b567383.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul-listed Red Sea International <\/strong><strong>appoint<\/strong><strong>ed <\/strong><strong>Amr Al Dabbagh (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/amraldabbagh\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) as its new <\/strong><strong>chairman<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzQyMzAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMzY1\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Al Dabbagh served as chairman and CEO of Al Dabbagh Group (ADG) for 33 years, in addition to an eight-year term as governor and chairman of the Saudi Arabian General Investment Authority until 2012. ADG is the majority owner of Red Sea International.<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86563\" 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=\"86563\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/aramco-eyes-minority-stake-in-repsols-renewables-unit-plus-oil-and-gas-logistics-and-cybersecurity\/\">\r\n                            Aramco eyes minority stake in Repsol\u2019s renewables unit. Plus: oil and gas, logistics, and cybersecurity                        <\/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\/27\/aramco-eyes-minority-stake-in-repsols-renewables-unit-plus-oil-and-gas-logistics-and-cybersecurity\/\" 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\/27\/aramco-eyes-minority-stake-in-repsols-renewables-unit-plus-oil-and-gas-logistics-and-cybersecurity\/')\">\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\/27\/aramco-eyes-minority-stake-in-repsols-renewables-unit-plus-oil-and-gas-logistics-and-cybersecurity\/\">\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=Aramco eyes minority stake in Repsol\u2019s renewables unit. Plus: oil and gas, logistics, and cybersecurity&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/aramco-eyes-minority-stake-in-repsols-renewables-unit-plus-oil-and-gas-logistics-and-cybersecurity\/\">\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\/27\/aramco-eyes-minority-stake-in-repsols-renewables-unit-plus-oil-and-gas-logistics-and-cybersecurity\/&title=Aramco eyes minority stake in Repsol\u2019s renewables unit. Plus: oil and gas, logistics, and cybersecurity\">\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=Aramco+eyes+minority+stake+in+Repsol%E2%80%99s+renewables+unit.+Plus%3A+oil+and+gas%2C+logistics%2C+and+cybersecurity+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F27%2Faramco-eyes-minority-stake-in-repsols-renewables-unit-plus-oil-and-gas-logistics-and-cybersecurity%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\/27\/aramco-eyes-minority-stake-in-repsols-renewables-unit-plus-oil-and-gas-logistics-and-cybersecurity\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2107.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86564\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/aramco-eyes-minority-stake-in-repsols-renewables-unit-plus-oil-and-gas-logistics-and-cybersecurity\/2107-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2107.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2107.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2107.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2107.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86563\" class=\"content-area-description single-story post-86563 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-ades-holding tag-also-on-our-radar tag-aramco tag-bahri tag-enterpriseam-ksa tag-gasco tag-riyadh-air tag-saudi-information-technology-site 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\/.1a49a5dc-45c7-4dd7-ad64-3a2b1806893e.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">M&amp;A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Aramco is reportedly eyeing a minority stake in Spanish oil company Repsol\u2019s <\/strong><strong>renewables arm<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/saudi-aramco-interested-buying-minority-stake-repsols-renewable-unit-expansion-2024-05-24\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports citing unnamed sources it says are familiar with the matter. The news was first reported by Spanish news outlet <a target=\"_blank\" href=\"https:\/\/www.expansion.com\/empresas\/energia\/2024\/05\/24\/664fa335468aeb831f8b459c.html\" style=\"\" rel=\"noopener\">Expansion<\/a>. Saudi Aramco is reportedly interested in the Spanish company\u2019s renewable assets in the US. The potential sale aims to finance Repsol\u2019s diversification into renewables. No details were provided on the timeline or size of the potential transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Oil giant Aramco is set to develop two SAF demonstration projects in Neom by 2025, one of which will be developed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3d14182e-433a-4f38-ba20-41a9c9f6a768\/aviation-report:-a-battle-over-emissions,-lots-of-saf,-more-affordable-tickets,-and-cross-border-cargo\" style=\"\" rel=\"noopener\">in partnership with Repsol<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Tadawul-listed <\/strong><strong><a target=\"_blank\" href=\"https:\/\/albahacompany.com\/en\/home\/\" style=\"\" rel=\"noopener\">Al Baha Investment and Development<\/a><\/strong><strong> is gearing up to become the <\/strong><strong>sole owner of its majority-owned subsidiary <\/strong><strong>Elegant Centers<\/strong>, 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\/lU9fb4IwEP8sfgDTA2Nhj2xsyIKKolN5MbXclEQoKcXNffpRMDG6ubjmHu6uv39HYrIkcc4O6ZapVORsX8-rmK77DgVzYMMYBrMnoBB5dD6zDdekZHEJsIcehcnImYxNqw_eG5D4X3yIwj5MXsJhL4ApeEDv48ON59zhH19Cxs6DVSd4ffT8wOnZ1LoG_HLilcnPGxrAHyEjzJtLrJtRfYMsJJaikhzJdIvKyXNR5RwzzFWQlsplipEJZ3yHAR5wH7Itkkhbs-SQlkKWGkVWelMiV0K6hZ-c5mO2Efu2L6RIKq5mxwLbhRK19KkvatEo_aonA1ohJvnujNX_oyrboHQ3ZGXq1bsU2VmA6dRcZ25JxrprNCb4qaJGrMUlNSNEmQqdsMjm8yWkftf-eO5l9mU5nc43jSkOgA!!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzQxMzAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMzUz\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The industrial investment company inked a non-binding MoU that would see it acquire an additional 13% stake in Elegant Centers, which would make it the sole owner of the subsidiary. Al Baha will begin due diligence to determine the value of the sale.<\/p>\n<p class=\"tag-border-left\">OIL &amp; GAS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An <\/strong><strong>Ades Holding unit inked a SAR 2.4 bn agreement with Kuwait Oil <\/strong><strong>Company <\/strong>for \u201cfour of the Company\u2019s current operating rigs <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8871961d-df04-45fb-a7dc-68df5fc7a931\/ma%25e2%2580%2599aden%25e2%2580%2599s-net-income-more-than-doubles-in-1q-2024\" style=\"\" rel=\"noopener\">in Kuwait<\/a> as well as two newbuild units,\u201d it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2015.pdf\" style=\"\" rel=\"noopener\">according to a disclosure to Tadawul (pdf)<\/a>. Operations are slated to start in 2Q-3Q 2025 for a period of five years with the option of a one-year extension. This constitutes a 3x increase in Ades\u2019 contracted fleet with Kuwait Oil Company over the past two years, tot a total of 12 rigs, up from just four in 2023. The oil and gas giant currently has 10 onshore rigs operating with the Kuwaiti company in Kuwait.<\/p>\n<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>Bahri, Gasco break off plans for logistics JV: <\/strong>National shipping company Bahri and the National Gas and Industrialization Co (Gasco) terminated an MoU aimed at setting up a joint venture focused on logistics and land transportation, they said in separate disclosures to Tadawul (<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-oyMTA2EA_ODVPvyA3NMIgMyA3XNdREQDQhc4Z\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDM4Ni9jb21wYW55U3ltYm9sLzQwMzAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMjAwkC_IDc0wiAzIDfcUVERAKdDSmY!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDM4MS9jb21wYW55U3ltYm9sLzIwODAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">here<\/a>). The joint venture was deemed not feasible for both parties after completing the necessary studies. There was no financial impact from the termination of the MoU, which was <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lZLRboIwFIafxQsul3OAUeruOs0qRoYMmNAbU5Q4EihkqVvc04-MK3To1rs235__fCcFASkIJT_Kg9Rlo2TV3TNBtg4jaC0oBriIZ0gw4iSJqTn3bNgMAepzguEzCwPLdZC_Ioh_5TFaOxg-rX17hS_IkfwtjyOH3ezPurw7DpgQgQCRn6JTnTcVZBZS7F-YUs1R7Yq6UBoys5tEDMsCNnU7l-Uj91bMpsQ9B35Z1tm4l9v4Aa7pXhW2CETy_YZ0SHrpXVO3Ug3NlyAOVZP3P-NN6_bBQAO13MvPY2V09VKpmdSQmuOAt4fUJUjvoa2TJP2Ki3zqld4dr7e-djI2mXwDJxd_fA!!\/dz\/d5\/L0lHSkovd0RNQU5rQUVnQSEhLzROVkUvZW4!\/\" style=\"\" rel=\"noopener\">signed in October<\/a> last year.<\/p>\n<p class=\"tag-border-left\">TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi Export-Import Bank (Saudi Exim Bank) signed a line of credit agreement worth <\/strong><strong>USD 100 mn with Turkish state-owned Ziraat Bank <\/strong>to fund exports of Saudi\u2019s non-oil products and services to Turkey, it said in a <a target=\"_blank\" href=\"https:\/\/saudiexim.gov.sa\/ar\/MediaCenter\/News\/Pages\/Exim_2024_5_17_News1.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. It said the move comes under the bank\u2019s efforts to empower the non-oil economy and enhance the competitiveness of Saudi products in global markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong>Saudi Exim Bank signed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9ecfe4dd-ef82-4470-b63e-7512c510bc3b\" style=\"\" rel=\"noopener\">earlier this month<\/a> an ins. agreement and a murabaha agreement with the Saudi National Bank to fund the export of non-oil products by improving documentary credits and providing ins. and financing solutions. It <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6c9fa888-91d8-4d66-b39b-aa812e00dd59\" style=\"\" rel=\"noopener\">signed in April<\/a> a number of reins. treaties with global reins. firms led by the world's second biggest reins. company Swiss Re to drive local export growth through ins. coverage expansion.<\/p>\n<p class=\"tag-border-left\">AUTOMOTIVE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China\u2019s <\/strong><strong>Newrizon to bring its EV trucks to the GCC through Saudi\u2019s Al Yemni Group: <\/strong>Chinese electric truck maker <a target=\"_blank\" href=\"https:\/\/www.newrizon.com\/\" style=\"\" rel=\"noopener\">Newrizon<\/a> signed an agreement with local commercial vehicle dealer group <a target=\"_blank\" href=\"https:\/\/alyemnigroup.com\/\" style=\"\" rel=\"noopener\">Al Yemni Group<\/a> to become Newrizon\u2019s exclusive distributor in the GCC region, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/newrizon-partnered-with-al-yemni-group-bringing-its-futuristic-ev-truck-in-gcc-region-wyc5redj\" style=\"\" rel=\"noopener\">statement<\/a>. No further details were provided.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Al Yemni: <\/strong>Established in the early 1970s, Al Yemni began its business by selling new and used cars before expanding into manufacturing, real estate, F&amp;B, construction and equipment sectors. Al Yemni is also a dealer for Japan\u2019s Subaru and Isuzu vehicles along with China\u2019s Chery. <\/p>\n<p class=\"tag-border-left\">CYBERSECURITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi Information Technology (Site) obtained an information security standard <\/strong><strong>certification that aims to optimize the security of credit and debit card payments<\/strong> by preventing cybersecurity compromise of personal data, according to a <a target=\"_blank\" href=\"https:\/\/site.sa\/en\/news\/site_obtains_pci_dss_v40_certification\" style=\"\" rel=\"noopener\">statement<\/a>. Site is a wholly owned subsidiary of the Public Investment Fund. The Payment Card Industry Data Security Standards (PCI DSS v4.0) certification was secured by Site \u201cas a provider of managed security services,\u201d it said. <\/p>\n<p class=\"tag-border-left\">TOURISM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>The Saudi Tourism and Investment Company (Asfar) is looking to improve visitor <\/strong><strong>experiences at cultural heritage sites<\/strong>, after signing an MoU with the Heritage Commission, it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/ASFARSaudi\/status\/1793643373678489921\" style=\"\" rel=\"noopener\">post on X<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Asfar wants to turn Saudi\u2019s small cities to tourist destinations: <\/strong>Asfar said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7ab9650c-bf5d-4f60-800e-b27a1d7048eb\" style=\"\" rel=\"noopener\">earlier this month<\/a> that it plans to set up tourist destinations in small cities nationwide to bridge the gap in the hospitality sector in those areas. The move comes as part of the company\u2019s strategy to transform smaller cities into tourism and entertainment hubs through partnerships with the private sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Tadawul-listed <\/strong><strong>Saudi Ground Services <\/strong><strong>is set to launch a subsidiary, Ground Service <\/strong><strong>Company for Travel and Tourism Services<\/strong>, as part of its growth strategy, 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\/lU9fb4IwEP8sfgDTA2Nhj2xsyIKKolN5MbXclEQoKcXNffpRMDG6ubjmHu6uv39HYrIkcc4O6ZapVORsX8-rmK77DgVzYMMYBrMnoBB5dD6zDdekZHEJsIcehcnImYxNqw_eG5D4X3yIwj5MXsJhL4ApeEDv48ON59zhH19Cxs6DVSd4ffT8wOnZ1LoG_HLilcnPGxrAHyEjzJtLrJtRfYMsJJaikhzJdIvKyXNR5RwzzFWQlsplipEJZ3yHAR5wH7Itkkhbs-SQlkKWGkVWelMiV0K6hZ-c5mO2Efu2L6RIKq5mxwLbhRK19KkvatEo_aonA1ohJvnujNX_oyrboHQ3ZGXq1bsU2VmA6dRcZ25JxrprNCb4qaJGrMUlNSNEmQqdsMjm8yWkftf-eO5l9mU5nc43jSkOgA!!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzQwMzEvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMzU2\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/p>\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ndf.gov.sa\/en\/fund\/redf\/\" style=\"\" rel=\"noopener\">Real Estate Development Fund<\/a><\/strong><strong> deposited SAR 978 mn in the accounts of Sakani <\/strong><strong>program<\/strong><strong> beneficiaries for May 2024<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2110461\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What is Sakani?&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/www.vision2030.gov.sa\/en\/explore-more\/sakani\/\" style=\"\" rel=\"noopener\">The program<\/a> is part of a wider government-run housing initiative that enables citizens from accessing the housing market and owning a home through \u201cfinancing options including rent-to-own and mortgage options.\u201d Sakani\u2019s diverse financing options include an upfront non-refundable assistance of up to SAR 150k, SPA quotes the fund\u2019s CEO Mansour bin Madi as saying. The fund deposited a total of SAR 60 bn in Sakani since its inception in 2017, bin Madi added.<\/p>\n<p class=\"tag-border-left\">ENTERTAINMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MBC FZ inked a SAR 65 mn contract with MedYapim Middle East Audiovisual Media <\/strong><strong>Production for the production of a 90-episode TV series, Mother Anne<\/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\/lY_RboIwFIafxQcwPWgs7JKNDVlQUXQqN6aWMyURSkpxc0-_VpYZ3Vxc04ue0-__z39IQhYkKdg-2zCViYLtdL1M6KrnUuj0HRhBf_oAFGKfzqaO5XUomZ8DzsCnMB6641HH7oH_AiT5lx7iqAfjp2jQDWECPtDb9HDluDfMT86RkXtn6wTP934Qul2H2pfALyteDPm5wxH4I2SMxXET-2rUwCJziZWoJUcy2aByi0LUBcccCxVmlfKYYmTMGd9iiHvcRWyDJDajWbrPKiErQ5Fl2zK9CrkS0iuD9LtzyNdiR5bmXUqR1lxNDyU2DSW0_de71MZx9qErCxorJvn2xJr_YZ2vUXprzZjWqxT5yYCZ5NzkbkTWqkmg8F3FR7OGS7UiQpkJnZGU-Wy2gCxoO2-P3dw5v26r9QlTUSX0\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzQwNzIvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMzY3\/\" style=\"\" rel=\"noopener\">a filing to the exchange<\/a>. The episodes are expected to be delivered in February 2025. The two companies are subsidiaries of MBC Group.<\/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>Riyadh Air has scheduled certification flights for September <\/strong><strong>through November of this <\/strong><strong>year<\/strong> as the Public Investment Fund\u2019s flagship carrier looks to line up an operator\u2019s certificate in preparation for its commercial launch in the summer of 2025, <a target=\"_blank\" href=\"https:\/\/simpleflying.com\/riyadh-air-latest-certification-flights-2024\/\" style=\"\" rel=\"noopener\">Simple Flying reports<\/a>, citing remarks by Riyadh Air CEO Tony Douglas at the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/027bea23-9269-4073-8314-6a784852c0ed\/day-1-of-the-future-aviation-forum-ends-on-a-high-note\" style=\"\" rel=\"noopener\">Future Aviation Forum<\/a> last week. \u201cWe\u2019ll go into service in the summer of next year,\u201d Douglas said. Riyadh Air is set to operate a fleet of Boeing 787s. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong>Certification flights are a series of test flights designed to evaluate the safety, performance, and functionality of new jets, in addition to their compliance with regulatory standards. They are a prerequisite for obtaining a license to commercially operate a fleet. <\/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\/ades-holding\/\">Ades Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/bahri\/\">Bahri<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gasco\/\">Gasco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/riyadh-air\/\">Riyadh Air<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-information-technology-site\/\">Saudi Information Technology (Site)<\/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=\"86565\" 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=\"86565\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/softbank-to-sink-usd-9-bn-a-year-into-ai\/\">\r\n                            SoftBank to sink USD 9 bn a year into AI                        <\/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\/27\/softbank-to-sink-usd-9-bn-a-year-into-ai\/\" 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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Much of the company\u2019s USD 180 bn net asset value has been driven by the UK-based Arm, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26cbb58e-2d70-4f3b-83c8-77a3dff8f3f9\/oil-prices-are-creeping-closer-to-usd-100\" style=\"\" rel=\"noopener\">saw its share price jump nearly 25%<\/a> after its blockbuster September 2023 market debut. Arm\u2019s valuation has soared since then to exceed USD 100 bn currently.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher:<\/strong> SoftBank has shifted its investment strategy to AI and semiconductors after backtracking on venture capital investments and selling assets owned by its startup fund <a target=\"_blank\" href=\"https:\/\/visionfund.com\/\" style=\"\" rel=\"noopener\">Vision Fund<\/a>, which included a USD 14 bn stake in defunct coworking startup WeWork.<\/p>\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are up slightly in early trading this morning <\/strong>as investors look forward to a week packed with macro data in the run-up to Friday\u2019s release of US core personal consumption expenditures \u2014 a report that Reuters says \u201ccould set the stage for a cut in interest rates there, albeit not for a few months yet.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>European futures were down slightly overnight<\/strong>, and both Wall Street and the City are off today for holidays. <\/p>\n<p><a target=\"_blank\" id=\"t.cd7cadb97c58d866b52b89f9331d7e91252c5801\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,850<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2% (YTD: -1.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,473<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.4% (YTD: -5.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">26,638<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +8.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,539<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2% (YTD: 10.6%)<\/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\">8,833<\/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: -7.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,013<\/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: -1.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,305<\/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\">+0.7% (YTD: +11.2%)<\/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>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\">8,318<\/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: +7.6%)<\/p>\n<\/td>\n<\/tr>\n<tr style=\"\">\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:50.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\">Down<\/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\">5,035<\/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\">0.00% (YTD: +11.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 82.12  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9%<\/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 2.52<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-5.2%<\/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 2,357<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 68,431<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: +63.1%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI fell 1.2% yesterday <\/strong>on turnover of SAR 4.4 bn. The index is down 1% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Bupa Arabia (+4.8%), Sfico (+4.5%) and Care (+3.8%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Al Baha (-7.1%), Eic (-5.1%) and Maaden (-4.6%).<\/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 0.2% yesterday <\/strong>on turnover of SAR 29.6 mn. The index is up 8.6% 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 Tech (+14.3%), Watani Steel (+10.1%) and AlMohafaza For Education (+7.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Riyadh Steel (-17.2%), Nofoth (-5.4%) and Pro Medex (-4.5%)<\/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>Perfect Presentation for Commercial Services is set to double its capital to SAR 300 mn&nbsp;<\/strong><strong>by granting one new share for every current share held<\/strong>, according to a disclosure on <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lU9fb4IwEP8sfgDTQ2Nhj2xsyIIKolN5MbXclEQoKcXNffpRMDG6ubjmHu6uv39HYrIkcc4O6ZapVORsX8-rmK4HNoXe0IIJDGdPQCFy6XxmGU6PksUlwBq5FMKxHU565gDcNyDxv_gQBQMIX4JR34cpuEDv48ONZ9_hH19CJvaDWSd4fXQ93-5b1LwG_HLilcnPGxrAHyEjzJtLzJtRPYMsJJaikhzJdIvKznNR5RwzzJWflsphipGQM75DHw-4D9gWSaStWXJISyFLjSIrvSmRKyGdwktO8zHbiH3bF1IkFVezY4HtQola-tQXtWiUftWTAa0Qk3x3xur_cZVtUDobsurr1bsU2VmA6dRcZ25JxrprNCb4qaJGrMUlNSNAmQqdsMjm8yWkXtf6eO5n1mXZnc43YOmwjA!!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzcyMDQvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMzUx\/\" style=\"\" rel=\"noopener\">Tadawul<\/a>. The Capital Market Authority has approved the move.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alkhorayef Water and Power Technologies has approved a 40% capital increase to SAR<\/strong><strong>350 <\/strong>mn through the distribution of new shares by capitalizing SAR 100 mn from retained earnings, 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\/lY_RboIwFIafxQcwPWgs7JKNDVlQQXQqN6aWMyURSkpxc08_CiZGNxfX9KLn9Pv_8x8SkyWJc3ZIt0ylImf7ul7FdD2wKfSGFkxgOHsCCpFL5zPLcHqULC4Ba-RSCMd2OOmZA3DfgMT_0kMUDCB8CUZ9H6bgAr1PDzeOfcf8-BKZ2A9mneD10fV8u29R8xr4ZcWrIT93aIA_QkaYN5uYN6N6BllILEUlOZLpFpWd56LKOWaYKz8tlcMUIyFnfIc-HnAfsC2SSI9mySEthSw1RVa6UyJXQjqFl5zqY7YR-_ZdSJFUXM2OBbYNJWrr07uoTaP0q64MaI2Y5Lszq__HVbZB6WxqRrfepcjOBkyn5jpzKzLW3YZS-KmixqzlkloRoEyFTlhk8_kSUq9rfTz3M-vy2p3ON7pozZU!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzIwODEvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMzY4\/\" style=\"\" rel=\"noopener\">a fi<\/a><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_RboIwFIafxQcwPWgs7JKNDVlQQXQqN6aWMyURSkpxc08_CiZGNxfX9KLn9Pv_8x8SkyWJc3ZIt0ylImf7ul7FdD2wKfSGFkxgOHsCCpFL5zPLcHqULC4Ba-RSCMd2OOmZA3DfgMT_0kMUDCB8CUZ9H6bgAr1PDzeOfcf8-BKZ2A9mneD10fV8u29R8xr4ZcWrIT93aIA_QkaYN5uYN6N6BllILEUlOZLpFpWd56LKOWaYKz8tlcMUIyFnfIc-HnAfsC2SSI9mySEthSw1RVa6UyJXQjqFl5zqY7YR-_ZdSJFUXM2OBbYNJWrr07uoTaP0q64MaI2Y5Lszq__HVbZB6WxqRrfepcjOBkyn5jpzKzLW3YZS-KmixqzlkloRoEyFTlhk8_kSUq9rfTz3M-vy2p3ON7pozZU!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzIwODEvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMzY4\/\" style=\"\" rel=\"noopener\">ling to the exchange<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shareholders of <\/strong><strong>Nomu-listed snacks manufacturer Fesh Fash have approved SAR 2 mn<\/strong><strong> in dividends&nbsp;<\/strong>at SAR 0.18 apiece for FY 2023, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc7u995m\" 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>Tadawul-listed vehicle rental firm Budget Saudi will distribute dividends of SAR 71.2 mn&nbsp;<\/strong><strong>at SAR 1 apiece <\/strong>for the second half of 2023 on Thursday, 6 June, 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-oyMTIzEA_ODVPvyA3NMIgMyA3XNdREQDmfort\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDM3Ny9jb21wYW55U3ltYm9sLzQyNjAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/softbank\/\">Softbank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/technology\/\">Technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86567\" 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=\"86567\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/saudi-appoints-first-ambassador-to-syria-since-2012\/\">\r\n                            Faisal Al Megfel named Saudi\u2019s ambassador to Syria                        <\/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\/27\/saudi-appoints-first-ambassador-to-syria-since-2012\/\" 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\/27\/saudi-appoints-first-ambassador-to-syria-since-2012\/')\">\n                    Copy Link    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  <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/saudi-appoints-first-ambassador-to-syria-since-2012\/&title=Saudi appoints first ambassador to Syria since 2012\">\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=Saudi+appoints+first+ambassador+to+Syria+since+2012+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F27%2Fsaudi-appoints-first-ambassador-to-syria-since-2012%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\/27\/saudi-appoints-first-ambassador-to-syria-since-2012\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2109.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86568\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/saudi-appoints-first-ambassador-to-syria-since-2012\/2109-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2109.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2109.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2109.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2109.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86567\" class=\"content-area-description single-story post-86567 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-bashar-al-assad tag-crown-prince tag-diplomacy tag-enterpriseam-ksa tag-faisal-al-megfel tag-syria 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\/.dfdeeeb7-c14a-4fe6-837d-d0f27b78958c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Kingdom appointed its first envoy to Syria since the closure of its embassy in <\/strong><strong>Damascus due to the country\u2019s civil war in 2012<\/strong>, with Faisal bin Saud Al Megfel taking up the post, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2110632\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Saudi <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/mena\/syria\/2024\/01\/22\/saudi-arabia-to-resume-embassy-activities-in-damascus-syrian-source-says\/\" style=\"\" rel=\"noopener\">reopened its embassy<\/a> in Syria earlier this year, while Syria appointed an ambassador to Riyadh as it reopened the embassy. The restoration came more than a decade after both countries severed diplomatic relations over the Syrian civil war in 2012. Syrian President Bashar Al Assad attended the Arab League summit in Jeddah <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/syrias-assad-arrives-saudi-arabia-arab-league-summit-2023-05-18\/\" style=\"\" rel=\"noopener\">last year<\/a> after Arab states <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/syrias-assad-arrives-saudi-arabia-arab-league-summit-2023-05-18\/\" style=\"\" rel=\"noopener\">approved the readmission<\/a> of Syria to the Arab League. Syria was suspended over the crackdown on protests against Al Assad. The Crown Prince also met with Al Assad at the Arab League summit in Bahrain last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The appointment is leading the conversation on Saudi in the international press <\/strong>this morning: <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-arabia-appoints-first-envoy-syria-more-than-decade-2024-05-26\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/syria-saudi-arabia-ambassador-assad-normalization-6933f506a1b15ce53f1cb574189e70c4\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.barrons.com\/news\/saudi-appoints-syria-ambassador-after-more-than-a-decade-c42ec395\" style=\"\" rel=\"noopener\">AFP<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/bashar-al-assad\/\">Bashar Al Assad<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/faisal-al-megfel\/\">Faisal Al Megfel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/syria\/\">Syria<\/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=\"86569\" 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\/27\/86569\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86569\" class=\"content-area-description single-story post-86569 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 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;\">2 June (Sunday): 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.hashgrowth.org\/events\/growth-summit-2024-riyadh\/#getinvite\" style=\"\">GROWTH Summit Riyadh<\/a><\/span><span>, InterContinental Riyadh, 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>10 June (Monday): Deadline to register for school bus services for the upcoming academic year.<\/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 style=\"font-weight:400;\">, 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>10-11 July: (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/gemtechforum.com\/\" style=\"\">Global EV & Mobility Tech Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & 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: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>Riyad Capital sees GDP growth rebound | Sabic closing in on Hadeed sale | What\u2019s next for Fakeeh + Smasco IPOs. | Horizon Educational + Leaf Global Nomu IPOs move 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