{"id":89707,"date":"2024-09-17T00:00:00","date_gmt":"2024-09-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=89707"},"modified":"2025-12-14T19:02:32","modified_gmt":"2025-12-14T19:02:32","slug":"lulu-group-eyes-tadawul-adx-dual-listing","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/lulu-group-eyes-tadawul-adx-dual-listing\/","title":{"rendered":"LuLu Group eyes Tadawul, ADX dual listing"},"content":{"rendered":"<section id=\"89709\" 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=\"89709\">\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\/09\/17\/saudis-first-hong-kong-focused-etfs-to-debut-on-tadawul-by-year-end\/\">\r\n                            THIS MORNING: Saudi\u2019s first Hong Kong-focused ETFs to debut on Tadawul by year-end                        <\/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\/09\/17\/saudis-first-hong-kong-focused-etfs-to-debut-on-tadawul-by-year-end\/\" 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\u2019ll be joined for the first time on stage by a senior government official, who\u2019s joining us to outline a vision for where we\u2019re going as a community and as an economy. The keynote interview will get underway at 9am sharp, and you won\u2019t want to miss our exclusive networking breakfast from 8am.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among the topics on the agenda<\/strong>, which <a target=\"_blank\" href=\"https:\/\/finance2024.enterprise.news\/#agenda\" style=\"\" rel=\"noopener\">you can view here<\/a>:<\/p>\n<ul>\n<li><strong>Welcome to the hot seat<\/strong> \u2014 top industry CEOs set the tone by addressing the biggest (and toughest) questions of the day. <\/li>\n<li><strong>Looking from the outside in<\/strong> \u2014 what foreign investors and strategics think about Egypt right now.<\/li>\n<li><strong>The only asset class in town \u2014<\/strong> It\u2019s real estate or nothing. We\u2019ll get into the ins and outs of the industry, how it\u2019s financing itself, which areas (and price points) are next, and more. <\/li>\n<li><strong>Gazing into that crystal ball <\/strong>\u2014 The outlook for dealflow in 2025, from M&amp;A and IPOs to securitization, FX and more. <\/li>\n<li><strong>A once in a generation opportunity? <\/strong>\u2014 A deep dive into the promise and pitfalls of the emerging energy economy.<\/li>\n<li><strong>Do we really love banking SMEs? <\/strong>\u2014 With NBFIs and fintech players staking their claims, banks are starting to take the SME market seriously.<\/li>\n<li><strong>The NBFI panel<\/strong> \u2014 The resilience of the Egyptian consumer is the business story of the decade. How are banks and NBFS players building sustainable businesses? What are the opportunities \u2014 and credit worries \u2014 in the B2B space?<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Haven\u2019t requested an invitation yet? Do it today \u2014 space is limited. <\/strong><strong><a target=\"_blank\" href=\"https:\/\/finance2024.enterprise.news\/\" style=\"\" rel=\"noopener\">Tap or click here<\/a><\/strong><a target=\"_blank\" href=\"https:\/\/finance2024.enterprise.news\/\" style=\"\" rel=\"noopener\">to<\/a><a target=\"_blank\" href=\"https:\/\/finance2024.enterprise.news\/\" style=\"\" rel=\"noopener\">let us know you\u2019re interested<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** IMPORTANT NOTE \u2014 If you\u2019ve already received your invitation on email, you *must* <\/strong><strong>click through to confirm you\u2019re attending. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"http:\/\/finance2024.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1078.jpg?ssl=1\"><\/a> <\/p>\n<p class=\"tag-border-left\">HAPPENING THIS WEEK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shares in homegrown<\/strong><strong> glass maker Arabian United Float Glass (UFG) will begin trading <\/strong><strong>on <\/strong><strong>Tadawul\u2019s parallel market Nomu <\/strong><strong>tomorrow<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details\/!ut\/p\/z1\/tVLLdoIwEP2WLrrkZEBeLtMX6sEqRVDYcGISWloIqKn08xu1C_X4aBfNau6cO7kzcwelaIZSQdbFK5FFLUipcJLamYVtMHoujLyJr0MQO74bBxMd-iaKUYpSKmQj31AiCSPtZ5lxcQsrov3AbdwsC8pXRLBCMK6ibVLwdhdUZPnB5Q5SuQc1AwwTurq9kSlrSkqOEi42qKEFQ4lj0RwM7mguI4ZmmnNdm5t2rrHcoIbFWG7ZFE0Pp3CHng3BMw5GhmOBFwNKLw95VA_h2ILgaTzs-PACHti_q4czD1_VD9XEifrDOUvCSmRd8BZFol5WyrjwjytS7On9MAuixxeltLfpHqDBtf7UlRTvi0WK1SnUQvIviWb_eQvTTbv7LY1w11GODO68vo87ru0cE05Yfkg44emWcMG0pqrcTqVF0axtJzzJHvw87Bf45hs665fO\/dz\/d5\/L2dBISEvZ0FBIS9nQSEh\/?locale=en\" style=\"\" rel=\"noopener\">a Tadawul statement<\/a>. UFG\u2019s shares will be allowed to trade within a \u00b130% range for the first three days before being capped at no more than 10% up or down when circuit breakers kick in. All shares on Tadawul are subject to the 10% up-or-down rule.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The company is floating a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/dffc352e-c372-4ec5-9d0c-38e721b058fb\/tharwah-debuts-on-nomu-today\" style=\"\" rel=\"noopener\">7% stake at SAR 54 per share<\/a>, aiming to raise some SAR 64.3 mn. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Riyadh\u2019s mercury will peak at 41\u00b0C, before dropping to a low of 28\u00b0C. Meanwhile, Jeddah will continue to see some rainfall, with a high of 37\u00b0C, and a low of 32\u00b0C.<\/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\"><a id=\"wwtt2\"><\/a> <strong>#1- Jaheziya 2024 results are out:<\/strong> The <a target=\"_blank\" href=\"https:\/\/www.etec.gov.sa\/home\" style=\"\" rel=\"noopener\">Education and Training Evaluation Commission<\/a> released the 2024 results of its Jaheziya program, which is designed to improve higher education graduates\u2019 readiness for the job market, the commission said in a <a target=\"_blank\" href=\"https:\/\/x.com\/EtecKsa\/status\/1835397499713945920\" style=\"\" rel=\"noopener\">post on X<\/a>. The average scores for students in specialized fields were the highest in Strategic Management, Integrated Marketing Communication, and Principles of Marketing, while students scored the lowest in the MIS Foundation and Technology, Business Finance, and Economic Foundation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Jaheziya: <\/strong>The program is in collaboration with the <a target=\"_blank\" href=\"https:\/\/www.cua.gov.sa\/\" style=\"\" rel=\"noopener\">Council of Universities\u2019 Affairs<\/a>, and aims to evaluate academic programs in the Kingdom, across 50 universities and colleges and more than 450 programs. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Arabic-speaking writers will have until the end of this month to submit their literary<\/strong><strong> works for the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/goldenpenaward.com\/ar\" style=\"\" rel=\"noopener\">Golden Pen Award<\/a><\/strong>, according to <a target=\"_blank\" href=\"https:\/\/english.aawsat.com\/culture\/5061478-writers-invited-submit-works-compete-saudi-arabia%E2%80%99s-golden-pen-award\" style=\"\" rel=\"noopener\">Asharq Al Awsat<\/a>. The awards are grouped into six categories, with a total award pool of USD 740k. A preliminary shortlist of finalists will be out on 30 November, followed by a final list on 30 December. The awardwinners will be announced next February.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- You no longer need a visa to travel to Pakistan:<\/strong> Under Pakistan's newly amended visa policy, citizens of GCC countries (Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Bahrain) are now eligible for a visa-on-arrival in Pakistan, valid for 90 days with possibility for renewal, according to <a target=\"_blank\" href=\"https:\/\/visa.nadra.gov.pk\/tourist-visa\/\" style=\"\" rel=\"noopener\">Pakistan\u2019s Interior Ministry<\/a>. <\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- <\/strong><strong>Saudi\u2019s first ETFs investing in the Hong Kong equities market are set to debut on<\/strong><strong> Tadawul by <\/strong><strong>year-end<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ae20282c-b509-4b02-8b76-95b0ac8fbd96\" style=\"\" rel=\"noopener\">FT reports<\/a>. This follows last year\u2019s listing of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d68a2eb6-2f0d-4eb4-a958-a4eb0595b96f\/first%253cmark%253e-saudi%253c%2Fmark%253e-etf-in-asia-closes-up-on-day-one,-could-cross-list-in-mainland-china\" style=\"\" rel=\"noopener\">the first Saudi-focused ETF<\/a> on the Hong Kong exchange, with the CSOP Saudi Arabia ETF seeing its assets boosted to some USD 1.3 bn since listing on the back of strong interest from institutional investors. The fund\u2019s manager CSOP was mulling a cross-listing on the Chinese mainland at the time of launch. Hong Kong is eyeing \u201csome reciprocal moves\u201d from Saudi\u2019s capital markets including the listing of a pair of Hong Kong-focused ETFs on Tadawul in response, Hong Kong\u2019s Financial Secretary Paul Chan said, according to the salmon-colored paper. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#2- <\/strong><strong>The Kingdom plans to step up its nuclear oversight<\/strong> and has submitted a request to the International Atomic Energy Agency (IAEA) to implement the Comprehensive Safeguards Agreement (CSA), and withdraw from the less-strict Small Quantities Protocol (SQP), <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-arabia-plans-allow-tougher-nuclear-oversight-by-iaea-this-year-2024-09-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a> quotes Saudi Energy Minister Prince Abdulaziz bin Salman as saying during the IAEA annual General Conference. The new agreement is scheduled to be in place by the end of the year, the minister said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What this means: <\/strong>Implementing the CSA would allow for more thorough inspections into the Kingdom\u2019s nuclear facilities to ensure they are used only for peaceful purposes. The move, which follows a formal request made by Riyadh in July, plays into the government\u2019s long-term nuclear ambitions, which include sensitive uranium enrichment. Saudi qualified for the SQP \u2014 which exempts states with less nuclear advanced technology from certain obligations and inspections \u2014 because it has not yet launched its first nuclear reactor. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong><strong>Cooperation with the US is also on the cards:<\/strong> Members of the US Congress were briefed on a proposed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/fef72cac-2efd-4123-8eca-c874dff5d8b2\/\" style=\"\" rel=\"noopener\">Saudi-US nuclear agreement<\/a> back in June as part of what officials hope will be a landmark series of agreements between Riyadh and Washington. Energy Minister Prince Abdulaziz bin Salman also signed an energy cooperation roadmap earlier in May with US Energy Secretary Jennifer Granholm including a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7d024f5d-91ed-461e-8b08-a0ba6af44d4c\/today:-tabreed-is-set-to-issue-usd-1.2-bn-green-bonds-next-year-%2B-an-update-on-egypt%25e2%2580%2599s-10-gw-wind-farm\" style=\"\" rel=\"noopener\">nuclear energy pact<\/a>. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#3- Saudi real estate financing firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.areebcapital.com\/news\" style=\"\" rel=\"noopener\">Areeb Capital<\/a><\/strong><strong> purchased a 32 mn sqm plot in<\/strong> <strong>Dammam for SAR 12 bn to develop a multi-use project<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/real-estate\/53832\/%D8%A3%D8%B1%D9%8A%D8%A8-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B3%D8%AA%D8%AB%D9%85%D8%B1-12-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%B1%D9%8A%D8%A7%D9%84-%D9%84%D8%AA%D9%85%D9%84%D9%83-%D9%82%D8%B7%D8%B9%D8%A9-%D8%A3%D8%B1%D8%B6-%D9%81%D9%8A-%D8%A7%D9%84%D8%AF%D9%85%D8%A7%D9%85\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The purchase was made through one of Areeb Capital\u2019s investment funds and is one of the Eastern Province\u2019s largest real estate acquisitions to date. The land plot is located in the Al Naseem district on King Faisal Road, the land will be developed into a multi-use project. The agreement was financed by major investors and Shariah-compliant facilities from a group of local banks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- <\/strong><strong>The Commerce Ministry cracked down on 44 businesses for running <\/strong><strong>promotional events<\/strong><strong> and offering price cuts<\/strong> without proper licensing, it said in <a target=\"_blank\" href=\"https:\/\/mc.gov.sa\/ar\/mediacenter\/News\/Pages\/16-09-24-01.aspx\" style=\"\" rel=\"noopener\">a news release<\/a>. The cases, referred to the Public Prosecution for further action, could face up to three years in prison, fines as high as SAR 1 mn, or both for violating the Anti-Commercial Fraud Law.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Architects have until Monday, 30 September to register in Roshn\u2019s Sedra Pedestrian<\/strong><strong> Spine competition to redesign key community spaces.<\/strong> The designs should include key spaces like mosques, convenience centers, and parks, emphasizing local materials and cultural elements. Participants will submit their designs between 15 October and 20 January, 2025, with the top redesign plan set to be announced in February. Registration is open until the end of the month <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/private-sector-hub\/private-sector-programs\/musahama-program\/musahama-design-competition\/\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Saudi crude production<\/strong><strong> fell 12.9% <\/strong><strong>y-o-y<\/strong><strong> to 61.7 mn barrels per day (bbl \/ d) in 1H 2024<\/strong>, according to the latest data from the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1202.png\" style=\"\" rel=\"noopener\">Joint Organizations Data Initiative<\/a>. Demand for Saudi oil products <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1206.png\" style=\"\" rel=\"noopener\">inched down 0.6%<\/a> over the same period to 13.9 mn bbl \/d of observed gross inland deliveries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2- Some <\/strong><strong>90% of industrial and mining companies in Saudi are <\/strong><strong>SMEs<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4342555\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-90-%D9%85%D9%86-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D9%84%D8%A9-%D8%A8%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D8%B5%D8%BA%D9%8A%D8%B1%D8%A9-%D9%88%D9%85%D8%AA%D9%88%D8%B3%D8%B7%D8%A9\/\" style=\"\" rel=\"noopener\">Mubasher<\/a> quotes Industry and Mineral Resources Minister Bandar Al Khorayef as saying. \u201cThe industry is no longer limited to big players, and there is great integration in the system through the services provided, from licensing to financing,\u201d Al Khorayef said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Islamic banking has an 85% market penetration rate in Saudi<\/strong><strong> Arabia<\/strong>, with strong growth potential in the UAE, Oman, Kuwait, and Qatar, according to <a target=\"_blank\" href=\"https:\/\/events.moodys.com\/cross-sector-islamic-finance-sep-22\" style=\"\" rel=\"noopener\">a Moody\u2019s report<\/a>. Moody\u2019s also forecasts that the profitability of Islamic banks across the GCC will remain robust over the next 12-18 months.<\/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>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Cenomi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> and  <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">climate<\/a>  industries?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<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>Away from the wall-to-wall coverage trying to figure out who the man accused of trying to<\/strong><strong> assassinate Trump is and what drove him<\/strong>, the business papers and corners of the international press are gearing up for the US Federal Reserve\u2019s two-day policy meeting, set to begin today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Naturally, all eyes are on Wall Street in the run-up to the Fed\u2019s decision<\/strong>, with the S&amp;P 500 <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/futures-kick-off-fed-meeting-week-cautious-note-2024-09-16\/\" style=\"\" rel=\"noopener\">closing essentially flat<\/a> yesterday while the Nasdaq fell slightly. The S&amp;P\u2019s tech index saw the steepest declines among the S&amp;P\u2019s 11 major sectors yesterday, with some commentators chalking up the drop to investors\u2019 desire to generate quick returns selling high-value tech stocks ahead of the Fed\u2019s rate-cut decision.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Analysts <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7f4f58e-eb0f-4294-97ad-2f65c289165a\/the-big-question-of-the-week:-how-far-will-the-fed-go%3F\" style=\"\" rel=\"noopener\">remain torn<\/a><\/strong><strong> between the arguments for a 25 bps cut and a more aggressive 50<\/strong><strong> bps cut <\/strong>amid persistent inflation and a cooling job market. Market expectations tilted toward a larger cut over the weekend, buoyed by signals from former Fed officials \u2014 meaning the central bank has the chance to take bold action without spooking investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHILE IN BIG ENERGY NEWS- BP is now <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/de1695e8-790d-4dec-b842-b312ca9508d2\" style=\"\" rel=\"noopener\">taking offers<\/a><\/strong><strong> for its USD 2 bn bp Wind Energy<\/strong>, its onshore wind business in the US, as the energy giant seeks to offload underperforming assets and focus on its upcoming solar project Lightsource bp.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND OVER IN AVIATION NEWS- Over 30k Boeing workers are on strike for the first time<\/strong><strong> since 2008 after rejecting the terms of the company\u2019s proposed contract,<\/strong> in a move that could cost the company over USD 100 mn in daily revenue, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/strike-could-cost-boeing-100-million-plus-daily-revenue-analysts-say-2024-09-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. A prolonged strike may also mean a credit rating downgrade, the \u201cbig three\u201d credit ratings agencies have warned, making accessing financing even more expensive for the already indebted airplane manufacturer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- Amazon has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/401e13fe-d065-4c07-9b51-e21fa38ad6e1\" style=\"\" rel=\"noopener\">informed its staff<\/a><\/strong><strong> that all employees will be expected to work from<\/strong><strong> the office five days a week beginning next year<\/strong> \u2014 one of the starkest reversals of pandemic-era remote work policies seen in the corporate world thus far. In an internal memo, CEO Andy Jassy justified the move by saying that \u201cWe\u2019ve observed that it\u2019s easier for our teammates to learn, model, practice, and strengthen our culture\u201d in a work environment more similar to the one that existed pre-Covid.<\/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>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saff.com.sa\/en\/championship.php?id=263\" style=\"\" rel=\"noopener\">Saudi Women\u2019s Premier League<\/a><\/strong><strong> kicks off on Friday, 27 September <\/strong>with the return of Al Nassr, Al Ahli, Al Shabab, Al Qadisiyah, Al Hilal, Al Ittihad and Eastern Flames. New to the League are AlUla, Al Taraji, and Al Amal.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nuclear-energy\/\">nuclear energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"89711\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15542.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"89712\" 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=\"89712\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/dual-listing-for-lulu-group\/\">\r\n                            LuLu Group reportedly planning dual listing on ADX + Tadawul in November                        <\/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\/09\/17\/dual-listing-for-lulu-group\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n        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       <\/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\/09\/17\/dual-listing-for-lulu-group\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1361.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"89713\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/dual-listing-for-lulu-group\/1361-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1361.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1361.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1361.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1361.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89712\" class=\"content-area-description single-story post-89712 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-capital-markets tag-ipo-watch tag-retail 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\/10\/.d63ec020-814b-4aba-bd38-8ca1bcb9ded7.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Lulu Group reportedly gears up for Tadawul + ADX dual listing:<\/strong> Supermarket chain <a target=\"_blank\" href=\"https:\/\/www.lulugroupinternational.com\/\" style=\"\" rel=\"noopener\">LuLu Group<\/a> is planning to list its shares on the Tadawul and ADX by the last week of October or early November, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/markets\/equities\/uae-retailer-lulu-group-plans-ipo-by-november-to-float-on-adx-tadawul-ercs49nh\" style=\"\" rel=\"noopener\">Zawya<\/a> reports, citing people familiar with the matter. The IPO is&nbsp;<span style=\"background-color: transparent;\">expected to raise between USD 1.5-1.85 bn, the sources said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew this was coming: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fa864923-b630-428a-8983-899370e1ccb4\/lulu-moves-forward-with-planned-ipo\" style=\"\" rel=\"noopener\">Earlier in March<\/a>, LuLu Group reportedly tapped advisors to work on its planned initial public offering on the ADX this year. The offering was said to potentially raise as much as USD 2 bn. Bloomberg reported <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/03d1a1ba-d94b-4ddd-8743-ee41a54f980b\/\" style=\"\" rel=\"noopener\">in February<\/a> that the IPO was expected to happen in 2H 2024, with the company considering a potential dual listing on the ADX and Tadawul. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Emirates NBD Capital, HSBC Holdings, Abu Dhabi Commercial Bank, and Citigroup are acting as joint bookrunners for LuLu\u2019s IPO. Moelis &amp; Company is an independent financial advisor for the IPO.<\/p>\n<p class=\"tag-border-left\">IN OTHER IPO NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Homegrown marketing company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/amaz.sa\/public\/en\" style=\"\" rel=\"noopener\">Amaz<\/a><\/strong><strong> plans to go public on the Saudi exchange<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/amaz_co\/status\/1835589508730900700\" style=\"\" rel=\"noopener\">post on X<\/a>. No further details were provided on the size and value of the IPO, or if it will be on Tadawul or Nomu. Amaz is a subsidiary of <a target=\"_blank\" href=\"https:\/\/almuhaysini.com\/\" style=\"\" rel=\"noopener\">Ahmed Al Muhaysini Holding Co<\/a>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/retail\/\">Retail<\/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=\"89714\" 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=\"89714\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/\">\r\n                            Crown Prince directs PIF to invest USD 5 bn in Egypt                        <\/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\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/\" 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\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/')\">\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\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/\">\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=PIF directed to invest USD 5 bn in Egypt&url=https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/\">\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\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/&title=PIF directed to invest USD 5 bn in Egypt\">\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=PIF+directed+to+invest+USD+5+bn+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F09%2F17%2Fpif-directed-to-invest-usd-5-bn-in-egypt%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\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"89715\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/1243-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1243.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89714\" class=\"content-area-description single-story post-89714 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam-ksa tag-investment tag-investment-watch tag-public-investment-fund-pif wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.e7301385-2902-44df-9edd-5d3403870745.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Crown Prince Mohammed bin Salman directed the Public Investment Fund <\/strong><strong>(PIF) to facilitate USD 5 bn in investments into Egypt<\/strong> as part of the \u201cfirst phase\u201d of a larger program of investment, the Crown Prince told Egyptian Prime Minister Moustafa Madbouly, according to an Egyptian cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/LuXDTghELtHxrHg4\/\" style=\"\" rel=\"noopener\">statement<\/a>. No details were disclosed on the timeline of the investments or their targeted areas. The story got ink from <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/2024\/09\/16\/saudi-wealth-fund-to-invest-5bn-in-egypt-cabinet-says\/\" style=\"\" rel=\"noopener\">the National<\/a>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egyptian-cabinet-says-saudi-crown-prince-told-pif-pump-5-bln-into-egypt-first-2024-09-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-16\/egypt-says-saudi-arabia-s-wealth-fund-set-to-invest-5-billion?srnd=homepage-americas\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This has been in the works: <\/strong>Saudi Arabia is looking to turn its deposits with the Central Bank of Egypt into investments, Investment Minister Khalid Al Falih <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd9d20a4-66f5-4c38-8d87-5d14990d600c\/saudi-arabia-to-use-cbe%253cmark%253e-deposits%253c%2Fmark%253e-to-fuel-egypt-investments\" style=\"\" rel=\"noopener\">first told<\/a> the Egyptian prime minister in August. Saudi is the second-largest contributing country to Egypt\u2019s long-term deposits, making up USD 5.3 bn of the USD 14.9 bn long-term deposits currently sitting at the Central Bank of Egypt at the end of 2023. Yesterday\u2019s statement did not confirm whether this is how the USD 5 bn from the PIF will be funded.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Madbouly touched down in Riyadh yesterday alongside Egypt\u2019s Finance Minister Ahmed Kouchouk and Investment Minister Hassan El Khatib for talks with their Saudi counterparts aimed at strengthening trade and investment between the two countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The PIF is no stranger to Egypt:<\/strong> The sovereign fund\u2019s most recent moves in the country saw it join up with CIRA Education\u2019s majority shareholder in May <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a8d732b1-e23e-4b6c-adb2-5132b7b08943\/pif-unit-eyes-controlling-stake-in-egypt%e2%80%99s-leading-education-company-with-view-to-turning-it-into-a-regional-platform\" style=\"\" rel=\"noopener\">to acquire up to 100%<\/a> of the company. A little later on in the month, the fund \u2014 which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/43da5fe1-bc9d-4ed3-b816-afc38d7a9962\/saudi-arabia%25e2%2580%2599s-public-investment-fund-ranked-as-world%25e2%2580%2599s-top-sovereign-wealth-fund-big-spender-in-2023\" style=\"\" rel=\"noopener\">ranked<\/a> as the world\u2019s highest-spending sovereign wealth fund in 2023 \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a8c88a1e-f8bc-4f6c-952d-c5d84eb1758c\/pif-in-talks-to-get-a-piece-of-egyptian-agriculture-firm-daltex\" style=\"\" rel=\"noopener\">began negotiations<\/a> to acquire a minority stake in local agriculture firm Daltex. In 2022 alone, the PIF through its Saudi Egyptian Investment Company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/316415e5-ccc3-42ca-b442-80dd3b8b2e16\" style=\"\" rel=\"noopener\">invested<\/a> over USD 1.3 bn via SEIC to acquire stakes in state-held EGX-listed companies. Its holdings in Egypt include a 25% stake in Mopco, a 19.82% stake in Abu Qir Fertilizers, a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/580af8a9-0b28-47e9-8cb0-043811c265a6\" style=\"\" rel=\"noopener\">27% stake in E-finance<\/a>, and a 20% stake in Alexandria Container and Cargo Handling.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is keen to signal it\u2019s ready for business: <\/strong>In his meeting with the Crown Prince, and in an <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0wHWyxCc1XDXMgyp5YEh6U6b6sth4NihoB7RqCFFv4EzN9zVREnzS4JWQUQc5dmcvl?rdid=ZJf7kCdR91edtK4W\" style=\"\" rel=\"noopener\">earlier speech to private sector players<\/a>, the Egyptian prime minister noted that the majority of the approximately 90 problems identified by Saudi investors have already been sorted out. The 14 remaining issues will be solved by the end of the year, Madbouly added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A bilateral investment agreement to push everything along will also soon be in place: <\/strong>The Agreement on Promotion and Mutual Protection of Investments between the two countries, which aims to help protect Saudi investors as Egypt looks to double their investments in the country, will be put into effect in two months or less after both sides sort out the necessary legislative and regulatory issues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As will a coordination council currently in the works: <\/strong>The crown prince said he wants to hold the first meeting of a coordination council between the two sides in October.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment\/\">Investment<\/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\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"89716\" 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=\"89716\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/circle-k-alsulaiman-acquires-major-stake-in-mazaya-fuel\/\">\r\n                            Circle K Alsulaiman acquires major stake in Mazaya Fuel                        <\/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\/09\/17\/circle-k-alsulaiman-acquires-major-stake-in-mazaya-fuel\/\" 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\/09\/17\/circle-k-alsulaiman-acquires-major-stake-in-mazaya-fuel\/')\">\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\/09\/17\/circle-k-alsulaiman-acquires-major-stake-in-mazaya-fuel\/\">\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=Circle K Alsulaiman acquires major stake in Mazaya Fuel&url=https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/circle-k-alsulaiman-acquires-major-stake-in-mazaya-fuel\/\">\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\/09\/17\/circle-k-alsulaiman-acquires-major-stake-in-mazaya-fuel\/&title=Circle K Alsulaiman acquires major stake in Mazaya Fuel\">\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=Circle+K+Alsulaiman+acquires+major+stake+in+Mazaya+Fuel+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F09%2F17%2Fcircle-k-alsulaiman-acquires-major-stake-in-mazaya-fuel%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\/09\/17\/circle-k-alsulaiman-acquires-major-stake-in-mazaya-fuel\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1268.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"89717\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/circle-k-alsulaiman-acquires-major-stake-in-mazaya-fuel\/1268-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1268.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1268.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1268.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1268.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89716\" class=\"content-area-description single-story post-89716 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-alsulaiman-group tag-circle-k tag-energy-ministry tag-enterpriseam-ksa tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.f023f05d-c39f-4c82-bd4f-3c05177de9f0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Circle K Alsulaiman has acquired a majority stake in fuel services company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/mazayafuel.com\/\" style=\"\" rel=\"noopener\">Mazaya Fuel<\/a><\/strong>, which has upwards of 130 fuel stations across the Kingdom, Alsulaiman Group said in <a target=\"_blank\" href=\"https:\/\/alsulaimangroup.com\/ar\/circle-k-alsulaiman-announces-majority-acquisition-of-mazaya-fuel-accelerating-its-growth-in-saudi-arabia\/\" style=\"\" rel=\"noopener\">a statement<\/a>. The move comes as part of Circle K Alsulaiman\u2019s plan to establish more than 500 Circle K fuel stations across Saudi by 2030, with targeted investments of SAR 700 mn in the fuel sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we don\u2019t know:<\/strong> No information was disclosed on the size or value of the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale<\/strong>: Alsulaiman Group will rebrand Mazaya Fuel stations under the Circle K name, as part of an Energy Ministry-backed agreement signed <a target=\"_blank\" href=\"https:\/\/spa.gov.sa\/en\/N2140024\" style=\"\" rel=\"noopener\">in June<\/a> \u201cto establish a network of Circle K-branded fuel stations,\u201d the statement says. Circle K \u2014 founded in Texas in 1951 \u2014 operates over 13k stations across 31 countries. Alsulaiman Group is a key player in Saudi\u2019s retail, logistics, and real estate sectors.<\/p>\n<p class=\"tag-border-left\">IN OTHER M&amp;A NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ma\u2019aden eyes stake in Aluminum Bahrain via share swap: <\/strong>Saudi Arabian Mining (Ma\u2019aden) has inked non-binding terms to acquire a 51% stake in Bahrain Bourse-listed Aluminum Bahrain (Alba), it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=82565&amp;anCat=1&amp;cs=1211&amp;locale=en\" style=\"\" rel=\"noopener\">a filing to Tadawul<\/a>. The transaction \u2014 which is pending regulatory approval, due diligence and cross-listing Alba\u2019s shares on Tadawul \u2014 would involve Ma\u2019aden swapping its full share capital of subsidiaries Ma\u2019aden Aluminum, Ma\u2019aden Bauxite and Alumina, for new shares in Alba. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Ma\u2019aden tapped Merrill Lynch as its financial advisor, with AS&amp;H Clifford Chance serving as its legal advisor, while Moelis &amp; Company UK is advising Alba on the transaction.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alsulaiman-group\/\">Alsulaiman Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/circle-k\/\">Circle K<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy-ministry\/\">Energy Ministry<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"89718\" 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=\"89718\">\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\">LOGISTICS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/warehousing-space-rents-rise-as-industrial-growth-spurs-demand\/\">\r\n                            Warehousing space rents rise as industrial growth spurs demand                        <\/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\/09\/17\/warehousing-space-rents-rise-as-industrial-growth-spurs-demand\/\" 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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Investments have been plugged into expanding warehousing facilities in KSA in a bid to leverage higher demand and surging rents, with capacity boosted in Riyadh and Jeddah.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The lay of the (rented) land:<\/strong> There was a 10.4% increase in average lease rates for light industrial units and grade B facilities over the past 12 months in Riyadh, settling at SAR 210 per sqm. Average lease rates in Jeddah reached SAR 208 per sqm \u2014 a 1.5% y-o-y increase in 1H of this year \u2014 with a 97% occupancy rate. Meanwhile, average rents in the Eastern Province were higher at SAR 228 per sqm, while lease rates in the Dammam Industrial and Al Taawun districts range between SAR 280 per sqm and SAR 300 per sqm. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the growth in demand:<\/strong> Investments in Saudi\u2019s industrial sector hit SAR 7 bn in 1Q 2024, after growing 63% in 2023 to SAR 15 bn, Knight Frank notes. Manufacturing activity in the Kingdom has been growing for most of the year, according to the local industrial production index, which saw the sub-index for manufacturing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8d4c766d-bfbc-4c5a-b514-4923de312cf6\/industrial-production-volumes-rise-for-the-first-time-this-year\" style=\"\" rel=\"noopener\">rise for six consecutive months<\/a>. The Kingdom\u2019s growing e-commerce industry \u2014 spurred by covid-era boom \u2014 drove demand for \u201cmodern warehousing and logistics solutions,\u201d the report says. E-commerce is currently Saudi\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f927601f-448a-4d1d-9d3f-4572432b38d8\/the-kingdom%25e2%2580%2599s-e-%253cmark%253ecommerce%253c%2Fmark%253e-industry-logs-gains-in-2023\" style=\"\" rel=\"noopener\">second-highest VC funded sector<\/a> in the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Supply hasn\u2019t been keeping pace with demand growth<\/strong>, creating a shortage of warehousing space across the Kingdom. The shortage is \u201cexacerbated by the cautious behavior of landowners \u2026 [who] are hesitant to develop speculatively due to their lack of experience in creating a real estate that meets international standards,\u201d said Mikhail Vereshchagin, associate partner at Knight Frank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- These dynamics aren\u2019t unique to warehousing:<\/strong> Office spaces in Saudi are also undergoing similar growing pains, with rental prices climbing 10.5% y-o-y in May with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f8e67552-a9db-4396-a32f-ae0c3cce8630\/commercial-rent-jumps-with-fresh-appetite-for-saudi-office-space\" style=\"\" rel=\"noopener\">increasing demand<\/a> for office space amid Saudi\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/38b098bf-b85e-4e3a-9248-233901e3bd1f\/pif-joins-the-push-to-have-wall-street-firms-declare-riyadh-their-regional-hq\" style=\"\" rel=\"noopener\">regional headquarters program<\/a> driving up prices amid supply coming up short. Real estate rents are consistently a major <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/df88a147-d153-4dc8-aef5-36c763ea7295\/%253cmark%253einflation%253c%2Fmark%253e-holds-steady-for-third-consecutive-month\" style=\"\" rel=\"noopener\">driver for inflation<\/a> in Saudi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CAPACITY BREAKDOWN BY GEOGRAPHY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh\u2019s warehouse and logistics capacity has grown to 28 mn sqm over the past 12<\/strong> <strong>months<\/strong>, with most of the new facilities located in the Industrial Gate City (IGC). There\u2019s another 820k sqm of industrial and logistics space under construction in Riyadh, with the majority again in IGC, followed by Jabal Ali. Meanwhile, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/02d6c74a-94b5-4b06-a152-15284b5d293e\/aramco-and-dhl-form-supply-chain-jv\" style=\"\" rel=\"noopener\">ASMO<\/a> \u2014 a supply chain JV between Aramco and DHL Supply Chain \u2014 marks some of the efforts to meet the rising demand in the energy, chemical, and industrial sectors. However, much of the supply currently under construction is meant for light industrial use, Knight Frank notes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over in Jeddah:<\/strong> Capacity at the Red Sea city has grown to 19.6 mn sqm, driven by key projects including Maersk\u2019s logistics park, and Aramex\u2019s warehouse at Jeddah Islamic Port. Projects in the port city\u2019s pipeline include <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/57feec61-5bb3-482a-829d-03766e354f52\" style=\"\" rel=\"noopener\">joint venture Jeddah Logistics Park by Mawani and DP World<\/a>. The project \u2014 slated for completion in 2Q 2025 \u2014 will add 185k sqm of warehousing space to the city\u2019s capacity, and stands to become DP World\u2019s largest warehousing space in the region. German shipping giant Maersk and the Saudi Ports Authority (Mawani) also jointly inaugurated a SAR 1.3 bn logistics zone at Jeddah Islamic Port <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/35874d54-8212-4240-9d95-9323ec4f5093\/mawani-%2B%253cmark%253e-maersk%253c%2Fmark%253e-launch-sar-1.3-bn-logistics-park-jeddah-islamic-port\" style=\"\" rel=\"noopener\">last month<\/a>, spanning a 225k sqm area. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And in Dammam:<\/strong> The Dammam Metropolitan Area\u2019s industrial and logistics infrastructure supply remain \u201crelatively unchanged due to a lack of major completions\u201d over the past year, Knight Frank says. Stock in the area remains at 7.96 mn sqm, with occupancy rates standing at 96%. High-quality warehouse facilities were in greater demand on the back of new industrial cities being set up, including King Salman Energy Park and the Industrial Valley. \u201cThese industrial zones house numerous manufacturing and petrochemical companies that require extensive storage and logistics support,\u201d according to the report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The upshot:<\/strong> With key areas like Riyadh currently \u201cstarved of supply\u201d of warehouse space and logistics solutions, international developers now have an appealing window to enter the market through partnerships with local players. However, Knight Frank expects the supply crunch to persist for some time, as \u201cthe construction and availability of new warehouse spaces would likely take around two years from the time the partnership is established.\u201d <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/rent\/\">Rent<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"89720\" 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=\"89720\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pilgrim-financing-fintech-umrahcash-lands-usd-500k-investment\/\">\r\n                            Pilgrim financing fintech UmrahCash lands USD 500k boost                        <\/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\/09\/17\/pilgrim-financing-fintech-umrahcash-lands-usd-500k-investment\/\" 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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data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"853.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/853.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/853.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89720\" class=\"content-area-description single-story post-89720 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-adaverse tag-enterpriseam-ksa tag-startup-watch tag-umrahcash 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\/9\/.fdf8fe55-59b2-4630-a29e-d47d560c6130.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>F<\/strong><strong>intech startup UmrahCash secured a USD 500k investment from<\/strong> <strong>Singapore-based VC and accelerator <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.adaverse.co\/\" style=\"\" rel=\"noopener\">Adaverse<\/a><\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/09\/umrahcash-secures-500000-investment-adaverse\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the money is going:<\/strong> The homegrown currency-exchange app (<a target=\"_blank\" href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.umrah.cash&pli=1\" style=\"\" rel=\"noopener\">Google Play<\/a>) will use the proceeds to expand its operations and boost its offerings at key pilgrimage sites Mecca, Medina, and Jeddah. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.) <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=82536&anCat=1&cs=6050&locale=en\" style=\"\" rel=\"noopener\"><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About UmrahCash: <\/strong>Established in 2024 by William Phelps (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/wjphelps\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), UmrahCash gives pilgrims an online prepay option to put down money in their local currency and seamlessly collect SAR upon arriving in Saudi to streamline currency exchange for religious tourism. UmraCash links liquidity providers, agents, and pilgrims providing thorough FX solutions to pilgrims. The app is geared primarily towards visitors from emerging countries such as Pakistan and Nigeria, which must first convert their national currencies to USD before exchanging for SAR when they arrive at the Kingdom. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/adaverse\/\">Adaverse<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/umrahcash\/\">UmrahCash<\/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=\"89722\" 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=\"89722\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/more-on-the-worlds-largest-inferencing-data-center-by-aramco-and-groq\/\">\r\n                            More on the world\u2019s largest inferencing data center by Aramco and Groq                        <\/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\/09\/17\/more-on-the-worlds-largest-inferencing-data-center-by-aramco-and-groq\/\" 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\/09\/17\/more-on-the-worlds-largest-inferencing-data-center-by-aramco-and-groq\/')\">\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\/09\/17\/more-on-the-worlds-largest-inferencing-data-center-by-aramco-and-groq\/\">\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=More on the world\u2019s largest inferencing data center by Aramco and Groq&url=https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/more-on-the-worlds-largest-inferencing-data-center-by-aramco-and-groq\/\">\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\/09\/17\/more-on-the-worlds-largest-inferencing-data-center-by-aramco-and-groq\/&title=More on the world\u2019s largest inferencing data center by Aramco and Groq\">\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=More+on+the+world%E2%80%99s+largest+inferencing+data+center+by+Aramco+and+Groq+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F09%2F17%2Fmore-on-the-worlds-largest-inferencing-data-center-by-aramco-and-groq%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\/09\/17\/more-on-the-worlds-largest-inferencing-data-center-by-aramco-and-groq\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1266.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"89723\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/more-on-the-worlds-largest-inferencing-data-center-by-aramco-and-groq\/1266-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1266.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1266.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1266.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1266.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89722\" class=\"content-area-description single-story post-89722 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-ai tag-aramco-digital tag-enterpriseam-ksa tag-saudi-in-the-news 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\/9\/.2bd4187c-514d-4e15-b823-6b331c2a5ba8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pitching Aramco Digital + Groq\u2019s inference data center partnership:<\/strong> California-based chip and AI player Groq is looking to \u201cpartner with Aramco Digital for quite a bit of our deployment in this region and anywhere we can,\u201d Groq CEO Jonathan Ross tells <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-16\/chip-startup-groq-backs-saudi-ai-ambitions-with-aramco-deal\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Groq and Aramco Digital \u2014 Aramco\u2019s tech arm \u2014 signed an agreement <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9241ced9-bbec-405d-9791-9164cb0c6824\/al-moammar-information-systems-secures-sar-252-mn-loan-from-riyad-bank\" style=\"\" rel=\"noopener\">last week<\/a> to build the world\u2019s largest inference data center in the world. The data center is expected to cost \u201cin the order of nine figures,\u201d Ross says, with plans for the center to be up and running before the close of the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Part of Saudi\u2019s diversification plans:<\/strong> The state-owned oil giant is \u201cplanning to do massive capital deployments for this, and it is a way to help diversify the economy away from oil,\u201d Ross added. Meanwhile, Groq is looking to double down on the Kingdom\u2019s low energy costs, available land plots, \u201cand access to 4 bn people within a 100 millisecond ping \u2014 a measure of how quickly data can travel between processing location and users,\u201d the business news information service explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2024\/sep\/15\/saudi-arabia-iran-houthi-threat-yemen-israel-red-sea\" style=\"\" rel=\"noopener\">the Guardian<\/a><\/strong><strong> is out with a piece on the Kingdom\u2019s call for <\/strong><strong>action to block <\/strong><strong>Iranian weapon shipments to the Houthis <\/strong>as tensions grow over the Iranian-backed militia\u2019s missile capabilities. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco-digital\/\">Aramco Digital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"89724\" 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=\"89724\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/amak-begins-commercial-production-at-al-masan-mine-expansion\/\">\r\n                            AMAK begins commercial production at Al Masan Mine expansion                        <\/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\/09\/17\/amak-begins-commercial-production-at-al-masan-mine-expansion\/\" 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\/09\/17\/amak-begins-commercial-production-at-al-masan-mine-expansion\/')\">\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\/09\/17\/amak-begins-commercial-production-at-al-masan-mine-expansion\/\">\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=AMAK begins commercial production at Al Masan Mine expansion&url=https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/amak-begins-commercial-production-at-al-masan-mine-expansion\/\">\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\/09\/17\/amak-begins-commercial-production-at-al-masan-mine-expansion\/&title=AMAK begins commercial production at Al Masan Mine expansion\">\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=AMAK+begins+commercial+production+at+Al+Masan+Mine+expansion+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F09%2F17%2Famak-begins-commercial-production-at-al-masan-mine-expansion%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\/09\/17\/amak-begins-commercial-production-at-al-masan-mine-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1357.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"89725\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/amak-begins-commercial-production-at-al-masan-mine-expansion\/1357-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1357.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1357.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1357.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1357.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89724\" class=\"content-area-description single-story post-89724 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam-ksa tag-mining 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\/9\/.587231ed-b2fc-4de2-a3fb-bf4b88fb783f.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">MINING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Commercial production kicks off at Al Masane Mine Expansion Project:<\/strong> Al Masane Al Kobra Mining Company (AMAK) successfully completed the Al Masane Mine Expansion Project with the beginning of commercial operations at the Moyeath orebody and related processing plant, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=82550&amp;anCat=1&amp;cs=1322&amp;locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The new plant has an annual capacity of some 400k tonnes and leverages advanced technologies to increase zinc concentrate output by 80% and copper concentrate output by 40% while lowering production costs. The Moyeath Plant initially started production in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=78947&amp;anCat=1&amp;cs=1322&amp;locale=en\" style=\"\" rel=\"noopener\">March<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent;\">INFRASTRUCTURE-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gov\u2019t receives one bid for the Jubail 4&amp;6 Independent Water Plant:<\/strong> A consortium of <a target=\"_blank\" href=\"https:\/\/www.acwapower.com\/en\/\" style=\"\" rel=\"noopener\">Acwa<\/a><a target=\"_blank\" href=\"https:\/\/www.acwapower.com\/en\/\" style=\"\" rel=\"noopener\">Power<\/a>, <a target=\"_blank\" href=\"https:\/\/alireza.com\/\" style=\"\" rel=\"noopener\">Haji Abdullah Alireza &amp; Co<\/a>., and <a target=\"_blank\" href=\"https:\/\/alsharifgroup.com\/\" style=\"\" rel=\"noopener\">Al Sharif Contracting<\/a> was the sole bidder for the development of the Jubail 4&amp;6 Independent Water Plant (IWP), which aims to produce 600k cubic meters of potable water a day, according to a <a target=\"_blank\" href=\"https:\/\/www.swpc.sa\/en\/swpc-is-pleased-to-announce-the-receipt-of-private-sector-proposals-for-jubail-46-independent-water-plant-iwp\/\" style=\"\" rel=\"noopener\">statement<\/a> from the Saudi Water Partnership Co. (SWPC). Commercial operations for the new plant are expected to begin in 1Q 2028.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- SWPC is also weighing bids for its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b957f3d2-0d0b-4a8b-bbfb-9a786f01f490\/all-infrastructure,-all-the-time#:~:text=%231%2D%20Bidders%20queue%20up%20for%20Jubail%2DBuraydah%20water%20pipeline%20project%3A\" style=\"\" rel=\"noopener\">Jubail-Buraydah water pipeline<\/a><\/strong><strong> project:<\/strong> A consortium featuring <a target=\"_blank\" href=\"https:\/\/www.aljomaih.com\/en\/aljomaih-energy-and-water-company\" style=\"\" rel=\"noopener\">Aljomaih Energy and Water Company<\/a>, <a target=\"_blank\" href=\"https:\/\/buhurinvestment.com\/\" style=\"\" rel=\"noopener\">Buhur for Investment Company<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.nesma.com\/en\" style=\"\" rel=\"noopener\">Nesma<\/a> and another one comprising <a target=\"_blank\" href=\"https:\/\/visioninvest.com\/en\/index.aspx\" style=\"\" rel=\"noopener\">Vision Invest<\/a> and <a target=\"_blank\" href=\"https:\/\/www.tq.com\/\" style=\"\" rel=\"noopener\">Taqa<\/a> are in the running for the 587-km water pipeline which will have a transmission capacity of 650k cubic meter per day, and is scheduled to come online in 1Q 2029.<\/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>Kindasa extends lease of desalination plant at Jeddah Islamic Port: <\/strong>Potable water distribution firm <a target=\"_blank\" href=\"https:\/\/kindasa.com\/en\/\" style=\"\" rel=\"noopener\">Kindasa Water Services<\/a> renewed its lease with the Saudi Port Authority (Mawani) for its desalination plant at the Jeddah Islamic Port for 10 years through November 2041, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1175.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from Kindasa\u2019s parent company Sustainable Infrastructure Holding Co. <\/p>\n<p class=\"tag-border-left\">EDUCATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Danfoss partners with Imam Mohamed bin Saud University for research, educational<\/strong><strong> projects:<\/strong> The Saudi arm of industrial equipment supplier <a target=\"_blank\" href=\"https:\/\/www.danfoss.com\/en-us\/\" style=\"\" rel=\"noopener\">Danfoss<\/a> and Imam Mohamed bin Saud University signed an MoU to collaborate on research and educational programs, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/danfoss-signs-mou-with-imam-mohamed-bin-saud-islamic-university-ghvutjaa\" style=\"\" rel=\"noopener\">statement<\/a> from Danfoss Saudi Arabia. The agreement will facilitate joint research projects, conferences, seminars, and workshops while promoting the exchange of knowledge and digital resources. It will also cover programs to improve institutional performance and faculty member development.<\/p>\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fesh Fash to get SAR 4.7 mn loan from SIDF:<\/strong> Nomu-listed snackmaker Fesh Fash received the green light from the Saudi Industrial Development Fund (SIDF) on a SAR 4.7 mn loan, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=82563&amp;anCat=1&amp;cs=9515&amp;locale=en\" style=\"\" rel=\"noopener\">a filing to Tadawul<\/a>. The eight-year funding will cover 50% of the cost of a SAR 9.7 mn revamping plan for upgrading production lines, machines, and facilities.<\/p>\n<p class=\"tag-border-left\">CONSTRUCTION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chinese state-owned contractor awarded EPC contract for Aramco\u2019s staff housing<\/strong> <strong>complexes: <\/strong>China\u2019s state-owned Shaanxi Construction Engineering Group (also known as Top International Engineering Corporation) was awarded a SAR 1.5 bn engineering, procurement, and construction (EPC) contract for Aramco\u2019s new staff housing complexes, according to <a target=\"_blank\" href=\"https:\/\/www.tradearabia.com\/news\/CONS_426185.html\" style=\"\" rel=\"noopener\">Trade Arabia<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The contract for the Haradh and Wudaihi complexes was awarded by Lamar Holding and<\/strong> <strong>Asyad Group<\/strong>, the primary developers of the project, which is set to house 2.8k Aramco staff members.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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\/mining\/\">mining<\/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=\"89726\" 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=\"89726\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/islamic-bond-market-may-see-shift-from-asset-based-to-equity-like-sukuk\/\">\r\n                            Islamic bond market may see shift from asset-based to equity-like sukuk                        <\/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        <!-- 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     <\/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\/09\/17\/islamic-bond-market-may-see-shift-from-asset-based-to-equity-like-sukuk\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1261.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"89727\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/islamic-bond-market-may-see-shift-from-asset-based-to-equity-like-sukuk\/1261-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1261.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1261.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1261.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1261.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89726\" class=\"content-area-description single-story post-89726 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets tag-planet-finance tag-sukuk 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\/9\/.06ab0597-34d7-40f6-9e93-1affdce0879a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Sukuk shake-up in the works?<\/strong> The normally steady Islamic bond market may be gearing up for a major overhaul as the Accounting and Auditing Organization for Islamic Financial Institutions (<a target=\"_blank\" href=\"https:\/\/aaoifi.com\/?lang=en\" style=\"\" rel=\"noopener\">AAOIFI<\/a>) reviews a proposal that could shift sukuk from asset-based debt instruments to equity-like, asset-backed ones, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/special-coverage\/the-world-of-islamic-finance\/sharia-proposals-could-mean-a-revolution-in-sukuk-market-ifr-gr8l8y9g\" style=\"\" rel=\"noopener\">IFR<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> First proposed in November 2023, the draft for Sharia Standard 62 has been in the feedback stage, with the deadline extended twice \u2014 most recently to 31 July. There has been no update yet on a third extension.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the difference? <\/strong>Currently, the structure of sukuk differs from bonds as they rely on an underlying asset, commonly real estate, to generate returns. The new standard, on the other hand, would give sukuk holders asset ownership, exposing them to risks like defaults. Investors would need to assess \u201cthe credit risk of the asset, rather than the credit risk of the obligor,\u201d said Bashar Al Natoor, global head of Islamic finance at Fitch Ratings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Issuers would also bear more risk:<\/strong> Issuers could face added costs from asset transfers and legal documentation, in addition to the fact that they tend to prefer retaining full control over their assets, according to a <a target=\"_blank\" href=\"https:\/\/insightplus.bakermckenzie.com\/bm\/banking-finance_1\/united-arab-emirates-shariah-standard-62-much-ado-about-nothing\" style=\"\" rel=\"noopener\">Baker McKenzie<\/a> report. This shift could fragment the market or delay new sukuk issuances until a more balanced structure emerges, S&amp;P said in a <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/ratings\/en\/research\/articles\/240715-sukuk-market-the-calm-before-the-storm-13174532\" style=\"\" rel=\"noopener\">report<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some markets could push back: <\/strong>AAOIFI\u2019s standards are mandatory in countries like the UAE, Qatar, and Bahrain, but some markets might resist. UAE banks, with one of the largest sukuk markets globally, could reject the standard if it restricts liquidity access, IFR notes. This could also mean that the AAOFI\u2019s guidelines could begin to be sidelined, with parallel markets emerging and the AAOFI potentially becoming obsolete, Mehdi Popotte, fixed-income portfolio manager at Arqaam Capital said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GCC sukuk are having a moment: <\/strong>This comes as GCC sukuk are seeing their longest winning streak since early 2021, with 11 consecutive weeks of gains, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-16\/gulf-sukuk-rally-grows-as-fed-rate-cuts-outweigh-oil-s-plunge\" style=\"\" rel=\"noopener\">Bloomberg\u2019s<\/a> GCC sukuk gauge. With expectations of a US Fed rate cut, investors are flocking to GCC bonds and sukuk, which have outperformed global bonds this year, the business information service reports.<\/p>\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s another mixed morning for Asia-Pacific markets<\/strong> \u2014 tracking similar movements over on Wall Street as investors prepare for the Federal Reserve to make a rate cut decision in its meeting today and tomorrow. Japan\u2019s Nikkei is down 0.4%, while the Topix is down 0.3%. Meanwhile, markets in South Korea, mainland China, and Taiwan are closed for the mid-Autumn festival. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wall Street futures were again flat<\/strong>, with the Nasdaq adding less than 0.1% and S&amp;P 500 futures hovering near the flatline. <\/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\">11,867<\/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: -0.8%)<\/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>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\">1,477<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: -4.8%)<\/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>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\">25,734<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +4.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6.5% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,260<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +21.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,389<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: -2.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,395<\/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: +8.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,633<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +18.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,278<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +7.1%)<\/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>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\">4,828<\/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: +6.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 72.94<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/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 2.37<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+3.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,608.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-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 57,855.20<\/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\">-3.0% (YTD: +36.5%)<\/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 <\/strong>fell 0.3% <strong>yesterday <\/strong>on turnover of SAR 5.4 bn. The index is down 0.8% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Al Baha (+5.9%), Riyadh Cement (+4.5%) and Rasan (+4.3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Sfico (-5.3%), Saico (-4.6%) and MedGulf (-4.1%).<\/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> fell 0.1% <strong>yesterday <\/strong>on turnover of SAR 32.7 mn. The index is up +4.9% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Al Modawat (+11.2%), Meyar (+8.1%) and Apico (+7.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Azm (-4.6%), Qomel (-4.3%) and Al Rasheed (-4.3%)<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Savola Group\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/b96d92d7-78fb-44bd-8ffb-3ed19ddadd7e\/institutional-investors-pour-into-al-majed-oud-ipo\" style=\"\" rel=\"noopener\">SAR 6 bn rights issue<\/a><\/strong><strong> was 94.2% subscribed,<\/strong> with the remaining 35.1 mn shares placed in a rump sale on Sunday, according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/markets\/equities\/small-rump-to-come-from-savolas-16bln-rights-issue-ifr-iqweiaiy\" style=\"\" rel=\"noopener\">Zawya<\/a> citing the <a target=\"_blank\" href=\"https:\/\/www.ifre.com\/story\/4823367\/small-rump-to-come-from-savolas-us16bn-rights-issue-3ktkd91zwt\" style=\"\" rel=\"noopener\">International Financing Review<\/a>. The shares were offered at SAR 10 each on a 1.12-for-1 basis and traded between SAR 26.6 and SAR 28.2 during the subscription period. The offering was two-thirds underwritten by Riyad Capital and one-third by ANB Capital. Post-issuance, Savola plans to distribute its 34.5% stake in Almarai, valued at SAR 18.6 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Paper Home\u2019s board recommended offloading assets worth SAR 29.3 mn<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=82557&amp;anCat=1&amp;cs=9576&amp;locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The transactions proposed include two agricultural land plot sales to the company\u2019s chairman Yaqoub Al Mughrabi for SAR 7.1 mn and SAR 7 mn, in addition to a separate SAR 15.1 mn sale of company branch United Industrial Refreshments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt-born Ades Holding will distribute dividends of SAR 237.5 mn at SAR 0.2 apiece for<\/strong><strong> 1H 2024<\/strong> on 1 October, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=82552&amp;anCat=1&amp;cs=2382&amp;locale=en\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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\/sukuk\/\">sukuk<\/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=\"89728\" 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=\"89728\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/top-saudi-and-us-generals-meet-saudi-guinea-ink-security-pact\/\">\r\n                            Top Saudi and US generals meet, Saudi + Guinea ink security pact                        <\/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\/09\/17\/top-saudi-and-us-generals-meet-saudi-guinea-ink-security-pact\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The pair discussed bilateral relations and topics of mutual concerns, as well as means to boost partnerships. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Commerce Minister Majid Al Kassabi met with UK Secretary of State <\/strong><strong>for Business and<\/strong><strong> Trade Jonathon Reynolds<\/strong> in Riyadh to discuss deepening economic ties, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2172308\" style=\"\" rel=\"noopener\">state news agency SPA reports<\/a>. The talks focused on expanding British business operations in the Kingdom, and boosting cooperation in startups, research, and innovation, with Al-Kassabi noting that bilateral trade between the Kingdom and the UK increased 30% between 2018 and 2023 to USD 103 bn. The event marked Reynolds\u2019 first overseas visit since taking office. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi + Guinea sign security cooperation agreement<\/strong><strong>:<\/strong> Interior Minister Abdulaziz bin Saud and Guinean security and civil protection minister Bashir Jallow inked a security cooperation agreement between the Kingdom and the Republic of Guinea, <a target=\"_blank\" href=\"https:\/\/spa.gov.sa\/N2171742\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reports. The pair also discussed means to boost security cooperation as well as matters of mutual concern.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/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=\"89730\" 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\/09\/17\/89730\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89730\" class=\"content-area-description single-story post-89730 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\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-19 September (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.srmgacademybootcamp.com\/\" style=\"\">SRMG Academy Technology Journalism Workshop<\/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>15-19 September (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.instagram.com\/p\/C_GkQDxomPn\/?hl=en\" style=\"\">Muntada FAA<\/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>16 September (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/x.com\/CSC_SA\/status\/1833508681968980468\" style=\"\">The Federation of Saudi Chambers\u2019 meeting on iron and steel<\/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>16-17 September (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/mepicsaudi.com\/\" style=\"\">MEP International Conference 2024<\/a><\/span><span style=\"font-weight:400;\">, Hilton, Jeddah. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-17 September (Monday-Tuesday):<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bedicsaudi.com\/\" style=\"\">Building Envelope Design and Insulation Conference (Bedic) 2024<\/a><\/span><span style=\"font-weight:400;\">, Hilton, Jeddah. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-19 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.foodexsaudiexpo.com\/?gad_source=1&gclid=Cj0KCQjwsuSzBhCLARIsAIcdLm7BzGZMtFoN5ZBuM4XYhTt2S_vcu4EXhoXp4W0W6h0ZQatZb4yjLQ0aAnZlEALw_wcB\" style=\"\">Foodex Saudi<\/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;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:\/\/www.thehotelshowsaudiarabia.com\/\" style=\"\">Hotel & Hospitality Expo<\/a><\/span><span style=\"font-weight:400;\">, Front Exhibition & Conference Center, 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;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.idc.com\/mea\/events\/71254-idc-saudi-arabia-cio-summit-2024\" style=\"\">IDC Saudi Arabia CIO Summit 2024<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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>24-25 September (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ksa.cxloyaltymena.com\/\" style=\"\">CX & Loyalty Summit & Awards<\/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>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>24-26 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.smartcitiessaudiexpo.com\/\" style=\"\">Smart Cities Saudi Expo 2024<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Exhibition & Conference Center. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-26 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/kbltcongress.com\/\" style=\"\">Kingdom Business and Luxury Travel Congress<\/a><\/span><span style=\"font-weight:400;\">, Crowne Plaza Riyadh RDC Hotel and Convention.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26 September-5 October (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.experiencealula.com\/en\/whats-on\/festivals\/alula-skies-festival\" style=\"\">AlUla Skies Festival<\/a><\/span><span style=\"font-weight:400;\">, AlUla. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27 September (Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cafonline.com\/caf-super-cup\/news\/caf-president-dr-patrice-motsepe-and-he-turki-alalshikh-announce-riyadh-saudi-arabia-as-hosts-of-the-totalenergies-caf-super-cup-final-2024-as-part-of-riyadh-season-2024\/\" style=\"\">CAF Super Cup Final 2024<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27 September<\/span><span style=\"font-weight:400;\"> (Friday): Saudi Women\u2019s Premier League starts. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29 September-1 October (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.jeddahconstruct.com\/\" style=\"\">Jeddah Construct Expo<\/a><\/span><span style=\"font-weight:400;\">, Jeddah. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29 September (Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.spa.gov.sa\/N2156544\" style=\"\">Start of Digital Chip Design Technologies training program<\/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 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>1-3 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/intersec-ksa.ae.messefrankfurt.com\/ksa\/en.html\" style=\"\">Intersec Saudi Arabia 2024<\/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>5-7 October (Saturday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/meetes-sa.com\/\" style=\"\">Middle East Education & Training Exhibition 2024<\/a><\/span><span style=\"font-weight:400;\">, Jeddah. <\/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;\">12 October (Saturday): Riyadh Season.<\/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;\">12 October (Saturday): Shakur Stevenson x Joe Cordina, 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>12-14 October (Saturday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.glforum.org\/\" style=\"\">Global Logistics Forum<\/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>15-16 October (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.terrapinn.com\/exhibition\/solar-show-ksa\/index.stm\" style=\"\">Solar & Storage Live KSA<\/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>16-17 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/gaaf2024.com\/\" style=\"\">Global Airport & Aviation Forum<\/a><\/span><span style=\"font-weight:400;\">, Jeddah.<\/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>19 October (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/webook.com\/en\/events\/battle-of-the-giants-198238\" style=\"\">Battle of the Giants<\/a><\/span><span style=\"font-weight:400;\">, Mayadeen Hall, Riyadh.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>21-22 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>21-22 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/app.glueup.com\/event\/the-aussie-expo-riyadh-2024-eoi-109871\/\" style=\"\">Aussie Expo<\/a><\/span><span style=\"font-weight:400;\">, King Abdullah Financial District Conference Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>21-23 October (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.globalhealthsaudi.com\/en\/home.html\" style=\"\">Global Health Exhibition 2024<\/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>23-24 October (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unido.org\/news\/unido-and-saudi-arabia-announce-mipf-2024-riyadh-challenges-industrial-policy-solutions\" style=\"\">UNIDO\u2019s Multilateral Industrial Policy Forum<\/a><\/span><span style=\"font-weight:400;\"> (MIPF), 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>26 October (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.spa.gov.sa\/en\/N2159416\" style=\"\">Donor Conference to Support Refugees in Sahel and Lake Chad Regions<\/a><\/span><span style=\"font-weight:400;\">, TBD. <\/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>27-28 (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/globalproptechsummit.com\/\" style=\"\">The Global PropTech Summit<\/a><\/span><span style=\"font-weight:400;\">, Movenpick Hotels & Resorts, 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>29-31 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fii-institute.org\/press\/unveiling-the-8th-future-investment-initiatives-theme-infinite-horizons-investing-todayshaping-tomorrow\/\" style=\"\">Future Investment Initiative Conference<\/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>30 October-3 November (Wednesday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/hia-hub-the-regions-largest-fashion-beauty-and-lifestyle-conference-returns-for-its-fourth-edition-bcyavjex\" style=\"\">Hia Hub 4.0<\/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>3-23 November (Sunday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.neom.com\/en-us\/newsroom\/neom-beach-games-returns#:~:text=NEOM%2C%20Kingdom%20of%20Saudi%20Arabia,of%20athletes%20and%20competitive%20events.\" style=\"\">NEOM Beach Games<\/a><\/span><span style=\"font-weight:400;\">, Neom. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 November (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-build.com\/\" style=\"\">Saudi Build<\/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>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;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>11-12 November (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wamsaudi.com\/\" style=\"\">World Advanced Manufacturing Logistics Summit & Expo<\/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>11-12 November (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiairportexhibition.com\/\" style=\"\">Saudi Airport Exhibition<\/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>11-12 November (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/x.com\/ExproForum\/status\/1830578273019215910\" style=\"\">Expenditure Efficiency Forum<\/a><\/span><span style=\"font-weight:400;\">, The Hilton, 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;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16 November (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.spa.gov.sa\/N2169475\" style=\"\">Latino Night at Riyadh Season<\/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;\">19-20 November (Tuesday-Wednesday): The Women's Economic Forum 2024, Dammam. <\/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>19-21 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/simrsnf.com\/\" style=\"\">Saudi International Maritime Forum<\/a><\/span><span style=\"font-weight:400;\">, Dammam.<\/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;\">23 November (Saturday): Red Sea 600, Jeddah Yacht Club and Marina. <\/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>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudi-electricityexpo.com\/en\/home.html\" style=\"\">Future Power 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>29 November-2 December 2024 (Sunday-Wednesday): World Sailing <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sailing.org\/2024\/05\/23\/jeddah-yacht-club-marina-to-host-2024-world-sailing-youth-match-racing-championships-and-womens-match-racing-world-championships\/\" style=\"\">Youth Match Racing World Championship<\/a><\/span><span style=\"font-weight:400;\">, Jeddah Yacht Club and Marina.<\/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>1 December (Sunday): <\/span><span>Opec+<\/span><span style=\"font-weight:400;\"> to meet. <\/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>2-3 December (Monday-Tuesday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iata.org\/en\/events\/all\/wings-of-change-middle-east\/\" style=\"\">Wings of Change Middle East<\/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>3-5 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/ibex-events-unveils-the-inaugural-future-stadiums-and-arenas-summit-and-expo-ev8nxkwb\" style=\"\">The International Business Exchange \u2013 IBEX EVENTS<\/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>11 December (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.billboard.com\/pro\/billboard-arabia-music-awards-date-december-2024\/\" style=\"\">Billboard Arabia Music Awards (BBAMAs)<\/a><\/span><span style=\"font-weight:400;\">, King Abdullah Financial District, 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;\">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>5-8 December (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sailing.org\/2024\/05\/23\/jeddah-yacht-club-marina-to-host-2024-world-sailing-youth-match-racing-championships-and-womens-match-racing-world-championships\/\" style=\"\">World Sailing Women\u2019s Match Racing World Championship<\/a><\/span><span style=\"font-weight:400;\">, Jeddah Yacht Club and Marina. <\/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>15-19 December (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/igfriyadh2024.sa\/\" style=\"\">Internet Governance Forum<\/a><\/span><span style=\"font-weight:400;\">, King Abdulaziz International Conference Center, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-26 December (Monday-Thursday): <\/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 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\">JANUARY 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-16 January (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futuremineralsforum.com\/\" style=\"\">Future Minerals Forum<\/a><\/span><span style=\"font-weight:400;\">, King Abdulaziz International Conference Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-29 January (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/therff.com\/new\/index_en.php\" style=\"\">Real Estate Future Forum<\/a><\/span><span style=\"font-weight:400;\">, Four Seasons Hotel, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-29 January (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sustainmideast.com\/\" style=\"\">Sustainability Forum Middle East<\/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>29-30 January (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/x.com\/Global_LMC?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor\" style=\"\">Global Labor Market Conference<\/a><\/span><span>, Riyadh.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY 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:400;\">6-8 February (Thursday-Saturday): Liv Golf season opener, Riyadh Golf Club, 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;\">10-13 February (Monday-Thursday): Leap 2025, the Kingdom\u2019s premier tech investment conference.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-15 February (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.fiaformulae.com\/en\/news\/501062\" style=\"\">Formula E<\/a><\/span><span style=\"font-weight:400;\">, Diriyah.<\/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\">JUNE 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:400;\">26 June (Thursday): 2024-2025 academic year ends.<\/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;\">2026<\/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\">UN Trade and Development Global Supply Chain Forum <\/span><span style=\"font-weight:400;\">to take place in Saudi Arabia.<\/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\">2027<\/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\">The World Water Forum <\/span><span style=\"font-weight:400;\">takes place in Riyadh. <\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>LuLu dual-listing on Tadawul + ADX? PIF to invest USD 5 bn in Egypt | Circle K acquires Mazaya Fuel stake | Stricter nuclear oversight<\/p>\n","protected":false},"featured_media":89708,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-89707","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"a1272b4c-d52a-485d-b109-35ade188e5bb","teaser":"LuLu dual-listing on Tadawul + ADX? 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