{"id":89802,"date":"2024-09-19T00:00:00","date_gmt":"2024-09-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=89802"},"modified":"2025-12-14T19:04:06","modified_gmt":"2025-12-14T19:04:06","slug":"almajed-oud-draws-in-strong-retail-investor-interest-for-tadawul-ipo","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/almajed-oud-draws-in-strong-retail-investor-interest-for-tadawul-ipo\/","title":{"rendered":"Almajed Oud draws in strong retail investor interest for Tadawul IPO"},"content":{"rendered":"<section id=\"89804\" 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=\"89804\">\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\/19\/arabian-mills-retail-subscription-period-wraps-today\/\">\r\n                            THIS MORNING: Arabian Mills\u2019 retail subscription period wraps today                        <\/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\/19\/arabian-mills-retail-subscription-period-wraps-today\/\" 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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"89805\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/arabian-mills-retail-subscription-period-wraps-today\/2286-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2286.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2286.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2286.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2286.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89804\" class=\"content-area-description single-story post-89804 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-al-battal-factory-for-chemical-industries tag-arabian-united-float-glass-ufg tag-enterpriseam-ksa tag-maritime tag-mining tag-musahama-design-competition tag-public-investment-fund-pif tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.d8507f5d-ba0f-4889-b3d0-a8b0a1c59076.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends, and TGIT.<\/strong> We have another packed issue with which to end the week, leading with the latest news from Almajed for Oud\u2019s IPO process, as well as financing updates from Acwa Power, and Aramco handing out more contracts to Milan-based Saipem.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS-<\/strong> We have more coverage from EFG Hermes\u2019 annual conference in London last week in this morning\u2019s Spotlight, wherein Egyptian Financial Regulatory Authority Chairman Mohamed Farid discusses the developments and regulatory overhaul seen in the Egyptian market over the past several years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** But first, a quick programming note:<\/strong> EnterpriseAM Saudi will be off next Sunday and Monday for a long weekend in observance of the National Day. Schools will also be closed on Sunday and Monday, while the Saudi Central Bank (Sama), the banks and institutions under its purview, and Tadawul will be off on Monday. We\u2019ll be back in your inboxes at the usual time on Tuesday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re five days out from the EnterpriseAM Finance Forum, which will be headlined this <\/strong><strong>year by Investment Minister Hassan El<\/strong><strong> Khatib<\/strong>, 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&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>** 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\/1374.jpg?ssl=1\"\/><\/a> <\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bookbuilding window for the retail tranche of Arabian Mills\u2019 IPO on Tadawul\u2019s main<\/strong><strong> market ends today<\/strong>, the company said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1467.pdf\" style=\"\" rel=\"noopener\">a filing to Tadawul<\/a>. Individual investors can subscribe to up to 10% of the flourmaker\u2019s 15.4 mn shares on offer \u2014 good for a 30% stake \u2014 at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a0a221c3-d7ee-46b6-b8bb-f7859c147773\/%253cmark%253earabian-mills%253c%2Fmark%253e-prices-ipo-at-top-of-range\" style=\"\" rel=\"noopener\">SAR 66 apiece<\/a>. The institutional portion of the offering closed 132x oversubscribed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zatca is hosting a live-streamed technical workshop on the next phase of <\/strong><strong>e-invoicing<\/strong><strong> integration at 2pm today<\/strong>, <a target=\"_blank\" href=\"https:\/\/x.com\/Zatca_sa\/status\/1836048409016561833\" style=\"\" rel=\"noopener\">the authority said on X<\/a>. The session will prepare companies for mandatory integration with Zatca\u2019s Fatoora platform that\u2019s set to start 1 March 2025. This is the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/ksa\/2024-09-01\" style=\"\" rel=\"noopener\">latest phase of an e-invoicing rollout<\/a> that began in late 2021. You can join the workshop <a target=\"_blank\" href=\"https:\/\/s2c.zatca.gov.sa\/f\/03625fa0?langKey=eng_us\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>\u26a0\ufe0fWEATHER WARNING- <\/strong>Thunderstorms are hitting parts of the Kingdom through to Sunday, with Al Baha, Asir, Jazan and areas of Makkah set to see the worst of it, while Najran and Madina will experience light to medium rain, the Saudi Civil Defense said in a <a target=\"_blank\" href=\"https:\/\/x.com\/SaudiDCD\/status\/1836111747222249902\" style=\"\" rel=\"noopener\">post on X<\/a>. Meanwhile, a sunny Riyadh will see a high of 38\u00b0C and a low of 27\u00b0C tomorrow and Jeddah\u2019s mercury will hit a high of 37\u00b0C and a low of 31\u00b0C.<\/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\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Passports can be renewed electronically within the first six months of their issuance<\/strong>, the General Directorate of Passports <a target=\"_blank\" href=\"https:\/\/x.com\/AljawazatKSA\/status\/1836065142737449184\" style=\"\" rel=\"noopener\">said on X<\/a>. Travel to Arab countries is allowed if your passport is more than three months away from expiry, while other countries require a minimum of six months\u2019 validity, the directorate noted. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Registration for<\/strong> <strong>PIF and Roshn Group\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/private-sector-hub\/private-sector-programs\/musahama-program\/musahama-design-competition\/\" style=\"\" rel=\"noopener\">Musahama Design Competition<\/a><\/strong><strong> is open until<\/strong><strong> Monday, 30 September. <\/strong>The competition invites emerging architects, recent graduates, and local design firms to design amenities for the Sedra Pedestrian Spine community. It features two tracks; one for Saudi final-year architecture students or recent graduates, and another for emerging Saudi architectural firms. The 14-week program includes professional webinars and workshops, with awards ranging from SAR 200k-400k, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2172745\" style=\"\" rel=\"noopener\">according to state news agency SPA<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Registrations are open for the Madinah Industrial Exhibition:<\/strong> The Madinah Chamber of Commerce and Industry is calling on industrial project owners to register for the upcoming industrial exhibition in Madinah next month, via its <a target=\"_blank\" href=\"https:\/\/www.mcci.org.sa\/\" style=\"\" rel=\"noopener\">online portal<\/a>. The event will showcase local factory production to visitors, trade delegations and investors, offering prime marketing options. <\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- <\/strong><strong>Aramco eyes big LNG play: <\/strong>Aramco has set its sights on becoming a major player in the liquefied natural gas (LNG) market, Aramco Executive Vice President Abulkarim Al-Ghamdi said at a conference, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-aramco-wants-be-major-lng-gas-player-gas-chief-says-2024-09-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. After expanding its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/66f5babf-d6f3-405c-8ffa-b10d1d799c08\/aramco-expands-its-foothold-in-south-america%25e2%2580%2599s%253cmark%253e-lng%253c%2Fmark%253e-market\" style=\"\" rel=\"noopener\">stake in LNG company MidOcean Energy to 49%<\/a>, the oil giant is pushing further into LNG ventures, including a recent <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/05f6cc00-c3d9-4432-a604-67a2b0ab2c5a\/aramco-close-to-acquiring-a-25%2525-stake-in-texas-lng-export-plant\" style=\"\" rel=\"noopener\">20-year offtake agreement<\/a> with NextDecade. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- Bahri eyes LNG fleet expansion: <\/strong>Shipping giant Bahri is looking to build a fleet of 20-30 new LNG tankers in a bid to boost the Kingdom\u2019s fuel supplies and meet rising global demand, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/power\/54139\/%D8%A7%D9%84%D8%A8%D8%AD%D8%B1%D9%8A-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%AE%D8%B7%D8%B7-%D9%84%D8%A8%D9%86%D8%A7%D8%A1-%D8%A3%D8%B3%D8%B7%D9%88%D9%84-%D9%86%D8%A7%D9%82%D9%84%D8%A7%D8%AA-%D9%84%D8%B4%D8%AD%D9%86-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D8%A7%D9%84%D9%85%D8%B3%D8%A7%D9%84\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> quotes Bahri CEO Ahmed Ali Al Subaey as saying. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Details are scant: <\/strong>The company aims to build the fleet \u2014 which is set to carry LNG, hydrogen, and ammonia \u2014 through joint ventures with unnamed partners. No investment ticket has been disclosed, but the plan is set to be presented to the board of directors for approval next year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Chemical manufacturing company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/albattalchem.com\/\" style=\"\" rel=\"noopener\">A<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/albattalchem.com\/\" style=\"\" rel=\"noopener\">l Battal Factory<\/a><\/strong><strong> received approval from the<\/strong><strong> Capital Market Authority to IPO on parallel market Nomu<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/NEWS\/Pages\/CMA_N_3630.aspx\" style=\"\" rel=\"noopener\">a statement<\/a>. The company plans to offer a 20% stake (670k shares) to qualified investors. The authority\u2019s approval is valid for six months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#4- Egypt could be looking to attract Saudi investments in its Ras Banas peninsula on <\/strong><strong>the Red Sea<\/strong>, after months of talks on Saudi <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\">converting its deposits<\/a> with the Central Bank of Egypt into investments, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-seeking-investment-southern-red-sea-coast-2024-09-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing a source from the country\u2019s Finance Ministry. The PIF has more recently been directed by Crown Prince Mohammed bin Salman to facilitate <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/08a20a78-d5cd-431c-bb24-fc93084a82b1\/pif-directed-to-invest-usd-5-bn-in%253cmark%253e-egypt%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">USD 5 bn in investments<\/a> into Egypt as part of the \u201cfirst phase\u201d of a larger program of investment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> The Egyptian government is in the process of drafting an investment plan to offer the Red Sea\u2019s Ras Banas to private sector players in a transaction similar to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0b97fcf-95b0-4d39-86ae-0a4989221520\" style=\"\" rel=\"noopener\">ADQ\u2019s USD 35 bn Ras El Hekma development agreement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> MARKET WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arabian United Float Glass (UFG) shares dropped 30% on their first day of trading on the <\/strong><strong>Nomu parallel market<\/strong>, closing at SAR 37.8 apiece, according to market data. UFG took 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<\/a> to market in an IPO that raised SAR 64.3 mn. <\/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\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The number of trucks crossing Saudi\u2019s borders through<\/strong><strong> land ports rose 11.9% y-o-y <\/strong><strong>in 1Q<\/strong><strong> 2024 to 962.5k <\/strong><strong>trucks<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/09\/17\/article_2750010.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> reports, citing data by the Zakat, Tax and Customs Authority. The number of outbound trucks was up 12.7% at 478.7k, while inbound trucks grew 17% at 483.9k. Al Batha (connecting to the UAE) and Al Haditha (connecting to Jordan) land ports accounted for the lion\u2019s share of all crossings, at 353.9k trucks and 115.8k trucks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Saudi\u2019s ports saw a 14.6% y-o-y increase in container traffic in 2023,<\/strong> surpassing 5 mn TEUs, with 3.4 mn TEUs in imports and 2.2 mn TEUs in exports, according to the General Authority for Statistics\u2019 (Gastat) <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1454.pdf\" style=\"\" rel=\"noopener\">Maritime Transports Statistics 2023 report (pdf)<\/a>. Ship traffic was up 33.8% y-o-y at 19k vessels, with King Fahad Industrial Port in Yanbu leading the pack at 6.5k vessels. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Passenger numbers rose 11.5% to over 1 mn, with Jazan Port recording the heaviest<\/strong><strong> traffic.<\/strong> The total cargo handled reached 308.6 mn tons, with 203.5 mn tons outbound and 105.1 mn tons inbound. Jeddah Islamic Port led in imports, while King Fahad Industrial Port in Yanbu topped exports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Industry and Mineral Resources Ministry issued 32 mining licenses in July 2024, <\/strong>it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/mimgov\/status\/1836345056313196590\" style=\"\" rel=\"noopener\">post on X<\/a>. The licenses include 16 for exploration, 10 for building materials and quarries, three for surplus mineral ore, and three for exploitation. <\/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\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>Al Nassr sacks Luis Castro as its manager after a 14-month stint<\/strong> with the Cristiano Ronaldo-led team, the club said in a <a target=\"_blank\" href=\"https:\/\/x.com\/AlNassrFC_EN\/status\/1836046465623290251\" style=\"\" rel=\"noopener\">post on X<\/a>. The Portuguese manager failed to secure a league title with Al Nassr, and leaves the club at 7th place in the Saudi Pro League having secured all 3 points in only one game in the new domestic season. <\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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>Even with everything going on in the world, the Fed\u2019s decision to cut interest rates is <\/strong><strong>topping the headlines in the international business press.<\/strong> US Federal Reserve chair Jerome Powell <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/economy\/central-banking\/fed-cuts-rates-by-half-percentage-point-03566d82\" style=\"\" rel=\"noopener\">announced<\/a> late yesterday that the Fed had voted to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/with-feds-rate-cut-hand-debate-swirls-over-how-big-move-2024-09-18\/\" style=\"\" rel=\"noopener\">lower<\/a> interest rates by half a percentage point in its first rate cut since 2020, bringing the benchmark federal funds rate to between 4.75% and 5%. In its statement on the decision, the Fed noted that the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/bff9e6d8-8906-4b3d-9ff3-72b091b6cd9e\" style=\"\" rel=\"noopener\">decision<\/a> reflects \u201cgreater confidence that inflation is moving sustainably toward 2%.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gulf policymakers <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-18\/gulf-central-banks-follow-fed-cut-as-oil-prices-drop-toward-70?srnd=homepage-middle-east&embedded-checkout=true\" style=\"\" rel=\"noopener\">followed suit<\/a><\/strong><strong> late yesterday<\/strong>, with Sama and the central banks of the UAE and Bahrain lowering their interest rates by 50 basis points, Qatar lowering rates 55 points, and Kuwait lowering rates by 25 basis points.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We\u2019ve got the complete rundown of the Fed\u2019s decision to cut rates, what happens next, <\/strong><strong>and how the market reacted in our Planet Finance section, below.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHILE IN OUR CORNER OF THE WORLD- Lebanon was hit yesterday with yet <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/defb8bf1-da0b-403a-aa4d-d27a35d54201\" style=\"\" rel=\"noopener\">another<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/defb8bf1-da0b-403a-aa4d-d27a35d54201\" style=\"\" rel=\"noopener\">set of Israeli device explosions<\/a><\/strong> as Hezbollah continues to reel from what has been described as the most significant penetration of the armed group\u2019s communication networks since the beginning of the war on Gaza. The latest set of explosions were of the group\u2019s hand-held radios, which <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-planted-explosives-hezbollahs-taiwan-made-pagers-say-sources-2024-09-18\/\" style=\"\" rel=\"noopener\">killed 20 and injured over 450<\/a> in Lebanon's single deadliest day since Hezbollah and Israeli forces began exchanging fire over the border nearly a year ago. The episode has further heightened fears of an escalation on the Lebanese-Israeli border, with Hezbollah secretary-general Hassan Nasrallah set to give an address today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND OVER IN TECH NEWS- Google will not have to pay a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f59441ee-e37f-4aa9-92a9-6f321b981e2c\" style=\"\" rel=\"noopener\">EUR 1.5 bn fine<\/a><\/strong> levied on the company by the European Commission after winning an appeal, though the court accepted the commission\u2019s assessment that the tech giant had engaged in anticompetitive practices with regard to its online advertising business. The decision marks a victory for big tech in the EU\u2019s recent antitrust crusade just as Meta <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6e126355-eef3-46a8-875c-2480861ba38a\" style=\"\" rel=\"noopener\">comes under scrutiny<\/a> by the commission for anticompetitive practices linked to its Marketplace services, with a decision on the case \u2014 and an appropriate fine \u2014 to be decided as early as next month.<\/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\"> 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:\/\/lpt.moc.gov.sa\/en\/Book-Fair\/Riyadh-International-Book-Fair\" style=\"\" rel=\"noopener\">Riyadh International Book Fair<\/a><\/strong><strong> is set to kick off on Thursday, 26 September at <\/strong><strong>King<\/strong><strong> Saud University<\/strong>. The event, which will run until Saturday, 5 October, will feature some 2k publishing houses from over 30 countries. As this year's guest of honor, Qatar will have its cultural heritage on full display. Expect book signings, children\u2019s programs and new business zones for publishers and literary agents. <\/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.mepra.org\/2024-mepra-leadership-majlis-ksa-speakers\/\" style=\"\" rel=\"noopener\">MEPRA KSA Leadership Majlis<\/a><\/strong><strong> is set to take place on 1 October in the Madareem<\/strong><strong> Crown Hotel, Riyadh.<\/strong> The event will bring together PR professionals to discuss creative communications, youth engagement, and integrating cultural heritage into modern strategies. It includes panel discussions, the MEPRA Fellowship Awards, and registration is open until next Tuesday, September 24. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/riyadhart.sa\/en\/noor-riyadh\/\" style=\"\" rel=\"noopener\">Noor Riyadh<\/a><\/strong><strong> is coming back this November:<\/strong> The Guinness record holder for the <a target=\"_blank\" href=\"https:\/\/www.guinnessworldrecords.com\/world-records\/719306-largest-light-art-festival\" style=\"\" rel=\"noopener\">largest light<\/a><a target=\"_blank\" href=\"https:\/\/www.guinnessworldrecords.com\/world-records\/719306-largest-light-art-festival\" style=\"\" rel=\"noopener\">art festival<\/a> is returning to various locations in Riyadh starting Thursday, 28 November, through to Monday, 14 December. 13 more Guinness world records were <a target=\"_blank\" href=\"https:\/\/riyadhart.sa\/en\/awards\/?_program=noor-riyadh\" style=\"\" rel=\"noopener\">awarded at the festival<\/a> since its inception in 2021. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-battal-factory-for-chemical-industries\/\">Al Battal Factory for Chemical Industries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/arabian-united-float-glass-ufg\/\">Arabian United Float Glass (UFG)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/maritime\/\">MARITIME<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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           \n<article id=\"post-89807\" class=\"content-area-description single-story post-89807 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-capital-markets tag-enterpriseam-ksa tag-ipo-watch tag-saudi-tadawul-group 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\/.d8507f5d-ba0f-4889-b3d0-a8b0a1c59076.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Perfume maker Almajed Oud\u2019s retail offering was 8<\/strong><strong>.2x<\/strong><strong> oversubscribed<\/strong>, drawing in SAR 1.16 bn in demand for 20% of the shares on offer at SAR 94 apiece, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=82588&anCat=1&cs=1005&locale=en\" style=\"\" rel=\"noopener\">a filing to Tadawul<\/a> from the offering\u2019s financial advisor and lead manager BSF. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Institutional investors booked 80% of the IPO earlier this month in an offering that was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8840ea53-9e74-417e-ba28-bc929b8acb4d\/%253cmark%253eal-majed-oud%253c%2Fmark%253e-prices-its-ipo-top-of-the-range-at-sar-94-a-piece\" style=\"\" rel=\"noopener\">15.6x oversubscribed<\/a>. Strong investor appetite priced Al Majed Oud\u2019s shares at the top of the range, giving it a market cap of SAR 24 bn upon listing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The final allocation of shares is due today, with excess subscription fees set to be refunded by next Tuesday, 24 September. The first day of trading is pending regulatory approval. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Almajed for Oud is taking <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/60313568-d8a8-42ba-a52b-e1406394f47e\/al-majed%253cmark%253e-oud%253c%2Fmark%253e-plans-to-sell-30%2525-stake-in-tadawul-ipo\" style=\"\" rel=\"noopener\">a 30% stake<\/a>, or 7.5 mn shares, to Tadawul\u2019s main market in a secondary share sale, according to the offering\u2019s prospectus. The transaction is expected to raise up to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8840ea53-9e74-417e-ba28-bc929b8acb4d\/%253cmark%253eal-majed-oud%253c%2Fmark%253e-prices-its-ipo-top-of-the-range-at-sar-94-a-piece\" style=\"\" rel=\"noopener\">SAR 705 mn in proceeds<\/a>, with selling shareholders pocketing net proceeds after some SAR 25 mn are used to cover IPO-related expenses. They will not be able to sell down their positions for a period of six months from the first day of trading. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> BSF Capital is financial advisor and lead manager, while Baker Mckenzie is providing counsel to the issuer. Stat is counsel to the financial advisor, underwriter manager, institutional subscription manager and lead underwriter. PwC is running financial due diligence, while Euromonitor International is the market study advisor and BDO Dr. Mohamed Al Amri & Co is the independent financial auditor.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-tadawul-group\/\">Saudi Tadawul Group<\/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=\"89809\" 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=\"89809\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/finmin-closes-sar-2-6-bn-in-september-sukuk-issuance\/\">\r\n                            Saudi closes SAR 2.6 bn in September sukuk issuance                        <\/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\/19\/finmin-closes-sar-2-6-bn-in-september-sukuk-issuance\/\" 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\/19\/finmin-closes-sar-2-6-bn-in-september-sukuk-issuance\/')\">\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\/19\/finmin-closes-sar-2-6-bn-in-september-sukuk-issuance\/\">\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=FinMin closes SAR 2.6 bn in September sukuk issuance&url=https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/finmin-closes-sar-2-6-bn-in-september-sukuk-issuance\/\">\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\/19\/finmin-closes-sar-2-6-bn-in-september-sukuk-issuance\/&title=FinMin closes SAR 2.6 bn in September sukuk issuance\">\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=FinMin+closes+SAR+2.6+bn+in+September+sukuk+issuance+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F09%2F19%2Ffinmin-closes-sar-2-6-bn-in-september-sukuk-issuance%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\/19\/finmin-closes-sar-2-6-bn-in-september-sukuk-issuance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1710.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"89810\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/finmin-closes-sar-2-6-bn-in-september-sukuk-issuance\/1710-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1710.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1710.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1710.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1710.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89809\" class=\"content-area-description single-story post-89809 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-enterpriseam-ksa tag-finance-ministry tag-national-debt-management-center 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\/.d8507f5d-ba0f-4889-b3d0-a8b0a1c59076.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Finance Ministry has closed its September sukuk issuance, raising SAR 2.6 bn from<\/strong><strong> fixed-income investors<\/strong>, down from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4277c974-a106-4cd2-82b0-ee1599514565\/finmin-wraps-sar-6-bn-august-multi-tranche-sukuk-issuance\" style=\"\" rel=\"noopener\">SAR 6 bn last month<\/a>, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1755227\" style=\"\" rel=\"noopener\">Argaam<\/a> reports, citing National Debt Management Center (NDMC) data. This is part of the government\u2019s SAR-denominated sukuk program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The issuance was structured in six tranches:<\/strong><\/p>\n<ul>\n<li>A 3-year tranche valued at SAR 255 mn;<\/li>\n<li>A 5-year tranche valued at SAR 375 mn;<\/li>\n<li>A 7-year tranche valued at SAR 638 mn;<\/li>\n<li>A 10-year tranche valued at SAR 1 bn;<\/li>\n<li>A 12-year tranche valued at SAR 202 mn;<\/li>\n<li>A 15-year tranche valued at SAR 112 mn; <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A snapshot of gov\u2019t debt obligations in 2024: <\/strong>The total remaining debt maturities in 2024 stand at c. SAR 21 bn, down from SAR 40 bn on the back of NDMC\u2019s \u201csuccessful execution of liability management transaction in 2023,\u201d according to the center\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/2010.pdf\" style=\"\" rel=\"noopener\">annual borrowing plan report for 2024 (pdf)<\/a>. The government\u2019s total debt portfolio is expected to reach SAR 1.1 tn by year-end.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The macro picture: <\/strong>The budget\u2019s deficit for this year is projected to reach SAR 79 bn, putting our financing needs at around SAR 86 bn. Up to 35% of those needs will be financed through domestic SAR-denominated instruments, while up to 40% is expected to be raised in international markets, and up to 50% through the government alternative funding (GAF) channel. GAF aims at financing the government\u2019s capex and infrastructure projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">IN OTHER DEBT NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sure Global Tech renewed a SAR 36.8 mn Shariah-compliant credit facility with <\/strong><strong>Saudi<\/strong><strong> National Bank<\/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=82595&anCat=1&cs=9550&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The agreement secures funding for another seven months, and is backed by a SAR 40.5 mn promissory note. The renewed facility will fund ongoing and upcoming projects, bank guarantees, and letters of credit.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-debt-management-center\/\">National Debt Management Center<\/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=\"89811\" 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=\"89811\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/acwa-power-hassan-allam-eye-c-usd-900-mn-for-gulf-of-suez-farm-by-2024-end\/\">\r\n                            Acwa Power, Hassan Allam plan to secure close to USD 900 mn for their mega Egypt wind farm by year end                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div 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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1515.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1515.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1515.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89811\" class=\"content-area-description single-story post-89811 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-acwa-power tag-energy tag-enterpriseam-ksa tag-hassan-allam-utilities tag-renewables tag-wind-power 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\/.d8507f5d-ba0f-4889-b3d0-a8b0a1c59076.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>ACWA and HAU update investment ticket for mega wind farm: <\/strong>Renewables giant Acwa Power and Egypt\u2019s Hassan Allam Utilities (HAU) are set to secure close to USD 900 mn in financing by the end of the year for their 1.1 GW wind farm in Gulf of Suez, a source with knowledge of the matter <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a627ddcc-5e87-4c76-a1e0-33b30fea09f8\/acwa-power,-hassan-allam-plan-to-secure-close-to-usd-900-mn-for-their-mega-egypt-wind-farm-by-year-end\" style=\"\" rel=\"noopener\">told EnterpriseAM Egypt<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s an update from earlier this year: <\/strong>The consortium <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d79ed63-6bef-4d9e-8dce-edca1c628ebb\/a-larger-imf-package-looks-like-a-question-of-if-and-not-when\" style=\"\" rel=\"noopener\">signed a 25-year land usufruct<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d79ed63-6bef-4d9e-8dce-edca1c628ebb\/a-larger-imf-package-looks-like-a-question-of-if-and-not-when\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d79ed63-6bef-4d9e-8dce-edca1c628ebb\/a-larger-imf-package-looks-like-a-question-of-if-and-not-when\" style=\"\" rel=\"noopener\">agreement<\/a> with the New and Renewable Energy Authority for the wind farm back in January, saying at the time the project had an investment value of up to USD 1.5 bn. Commercial operations are set to begin by the end of 2026, according to a statement released at the time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa and HAU have completed all studies for the project<\/strong>, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/power\/54086\/%D8%A3%D9%83%D9%88%D8%A7-%D8%A8%D8%A7%D9%88%D8%B1-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D9%88%D9%86%D8%B5%D9%81-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%85%D8%AD%D8%B7%D8%A9-%D8%B1%D9%8A%D8%A7%D8%AD-%D9%85%D8%B5%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing an unnamed Egyptian government source. The final contracts are expected to be signed before the end of the year ahead of kicking off project implementation. Asharq\u2019s sources said that the project will be implemented over two 550 MW phases and is expected to be fully operational by the end of 2027. Construction is scheduled to begin before the end of this year, with an estimated completion time of 30 months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Acwa Power and Hassan Allam signed a 25-year power purchase agreement with the Egyptian Electricity Transmission Company to develop the wind farm under a build-own-operate framework back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/031ecccd-f816-4657-ae61-58d9c32a706d\" style=\"\" rel=\"noopener\">June 2022<\/a>. ACWA said at the time that the onshore wind farm will be one of the largest in the world and the largest in the Middle East.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/acwa-power\/\">ACWA power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hassan-allam-utilities\/\">Hassan Allam Utilities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/renewables\/\">RENEWABLES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/wind-power\/\">wind power<\/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=\"89813\" 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=\"89813\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/aramco-awards-saipem-another-usd-2-bn-epc-contract\/\">\r\n                            Aramco awards Saipem another USD 2 bn EPC contract for Marjan oil field                        <\/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\/19\/aramco-awards-saipem-another-usd-2-bn-epc-contract\/\" 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\/19\/aramco-awards-saipem-another-usd-2-bn-epc-contract\/')\">\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\/19\/aramco-awards-saipem-another-usd-2-bn-epc-contract\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Aramco awards Saipem another USD 2 bn EPC contract&url=https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/aramco-awards-saipem-another-usd-2-bn-epc-contract\/\">\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\/19\/aramco-awards-saipem-another-usd-2-bn-epc-contract\/&title=Aramco awards Saipem another USD 2 bn EPC contract\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Aramco+awards+Saipem+another+USD+2+bn+EPC+contract+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F09%2F19%2Faramco-awards-saipem-another-usd-2-bn-epc-contract%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\/19\/aramco-awards-saipem-another-usd-2-bn-epc-contract\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1788.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"89814\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/aramco-awards-saipem-another-usd-2-bn-epc-contract\/1788-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1788.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1788.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1788.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1788.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89813\" class=\"content-area-description single-story post-89813 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-aramco tag-energy tag-enterpriseam-ksa tag-oil-and-gas 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\/.d8507f5d-ba0f-4889-b3d0-a8b0a1c59076.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Aramco awarded Milan-based contractor Saipem an offshore contract<\/strong> <strong>valued at c.<\/strong> <strong>USD 2 bn<\/strong> to develop the Marjan oil field, Saipem said in a <a target=\"_blank\" href=\"https:\/\/www.saipem.com\/en\/media\/press-releases\/2024-09-18\/saipem-awarded-new-offshore-contract-saudi-arabia-worth\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The contract was awarded after Saipem completed bidding and met all requirements. The story was picked up by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/italys-saipem-wins-offshore-contract-worth-2-bln-saudi-arabia-2024-09-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The contract scope:<\/strong> Saipem will handle the engineering, procurement, construction, and installation of several key components, including wellhead platforms, jackets, a tie-in platform, rigid flowlines, submarine composite cables, and fiber optic cables. The project will leverage Saipem\u2019s local offshore fleet. Fabrication will also take place at the Saipem Taqa Al Rushaid Fabricators (STAR) yard in Dammam, in a bid to boost the local component of the contract and develop Saudi industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The contract was signed under an existing long-term agreement between both firms.<\/strong> Earlier this month, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ed6318f9-e257-4f72-9b1d-0b90f1d71e0e\/tabby-targets-2025-2026-window-for-saudi-ipo\" style=\"\" rel=\"noopener\">Aramco awarded two contracts<\/a> worth a combined USD 1 bn to Saipem for EPC works at Marjan oil and gas field, Zuluf oil field, and Safaniya oil fields. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Marjan is set to boost Aramco\u2019s oil production capacity:<\/strong> The oil giant reported in its 1Q results that the Marjan crude oil increment is expected to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e07c7da8-cdae-4c02-8d5a-33637252b1b9\/aramco-reports-lower-net-income-in-1q-2024,-but-looks-on-track-to-boost-this-year%25e2%2580%2599s-dividend\" style=\"\" rel=\"noopener\">add crude oil production capacities of 300k bbl \/ d<\/a> and are on track and forecasted to be onstream by next year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Long-standing partners:<\/strong> Saipem said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5ebe6ea6-8307-4ca4-84d1-a43a783d2e48\" style=\"\" rel=\"noopener\">earlier this year<\/a> that it is forecasting a 20% fall in average annual orders from Aramco until 2027 on the back of the oil giant\u2019s decision to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/64b025a9-ef9c-437e-b782-524c79b3c9e0\" style=\"\" rel=\"noopener\">shelve plans<\/a> of investment in new production capacity. However, it said Aramco\u2019s suspension <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b1f83b92-b04b-46b2-8a11-2ac98a0e8dcf\" style=\"\" rel=\"noopener\">would not significantly impact<\/a> its 2024 targets.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil-and-gas\/\">oil and gas<\/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=\"89815\" 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=\"89815\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/a-rundown-of-the-newly-approved-commercial-registration-trade-name-laws\/\">\r\n                            A rundown of the newly-approved commercial registration and trade name laws                        <\/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\/19\/a-rundown-of-the-newly-approved-commercial-registration-trade-name-laws\/\" 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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href=\"https:\/\/api.whatsapp.com\/send?text=A+rundown+of+the+newly-approved+commercial+registration+%2B+trade+name+laws+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F09%2F19%2Fa-rundown-of-the-newly-approved-commercial-registration-trade-name-laws%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\/19\/a-rundown-of-the-newly-approved-commercial-registration-trade-name-laws\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1496.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"89816\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/a-rundown-of-the-newly-approved-commercial-registration-trade-name-laws\/1496-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1496.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1496.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1496.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1496.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89815\" class=\"content-area-description single-story post-89815 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-commercial-registration tag-enterpriseam-ksa tag-legislation tag-legislation-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\/.d8507f5d-ba0f-4889-b3d0-a8b0a1c59076.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Companies will now be required to have a singular commercial register covering all of<\/strong><strong> their activities in Saudi<\/strong>, as per the the Commercial Registration Law and Trade Name Law <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/21ba09e4-177d-4d71-b57e-3feb261fc91a\/cabinet-approves-fresh-commercial-law-%2B-trade-names-laws\" style=\"\" rel=\"noopener\">approved by the<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/21ba09e4-177d-4d71-b57e-3feb261fc91a\/cabinet-approves-fresh-commercial-law-%2B-trade-names-laws\" style=\"\" rel=\"noopener\">Cabinet<\/a>, the Commerce Ministry said in two separate posts on X (<a target=\"_blank\" href=\"https:\/\/x.com\/MCgovSA\/status\/1836079675103203709\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/x.com\/MCgovSA\/status\/1836079118430908556\" style=\"\" rel=\"noopener\">here<\/a>). The updated laws look to simplify procedures and make it easier to do business.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1432.pdf\" style=\"\" rel=\"noopener\">Trade Names Law (pdf)<\/a><\/strong><strong> introduces a ban on duplicated trade names for<\/strong><strong> businesses<\/strong>, even if they operate in different sectors or on different commercial activities. The law also allows for non-Arabic and alphanumeric characters in trade names, independent transfer of ownership of trade names separately from establishments, and the reservation of trade names for renewable periods prior to their registration.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No more regional sub-records<\/strong><strong> for commercial entities:<\/strong> The new commercial registry requirements ditch sub-records \u2014 now, companies can operate under a single registry countrywide. Companies have a five-year grade period to do away with their sub-records. To do this, they can either establish a new company to retain the commercial sub-record, transfer the sub-record to another person or entity, or cancel the sub-record altogether and transfer its assets and activities to the establishment\u2019s main record.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Registry renewal timelines have been updated:<\/strong> Businesses must now confirm their details electronically each year \u2014 beginning with the date of registration \u2014 rather than handle expiration dates for their registry. Registrations are suspended if a business fails to renew their details within the allotted 90-day window, but the suspension is lifted if details are renewed at any point during the year. A registration is removed from the registry if a business fails to confirm its details one year after suspension.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No more penalties:<\/strong> The system also replaces penalties with a system of \u201cwarnings and notices for businesses to comply\u201d in order to give enterprises a chance to fix issues. Companies are now required to open linked bank accounts to improve transparency, while the authority has also introduced a centralized database to manage business registrations more efficiently.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/commercial-registration\/\">Commercial Registration<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/legislation\/\">Legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/legislation-watch\/\">LEGISLATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"89817\" 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=\"89817\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/darent-secures-undisclosed-amount-in-a-seed-round-led-by-al-tawuniya-ins\/\">\r\n                            Darent secures undisclosed amount in a seed round led by Al Tawuniya Ins.                        <\/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\/19\/darent-secures-undisclosed-amount-in-a-seed-round-led-by-al-tawuniya-ins\/\" 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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href=\"https:\/\/api.whatsapp.com\/send?text=Darent+secures+undisclosed+amount+in+a+seed+round+led+by+Al+Tawuniya+Ins.+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F09%2F19%2Fdarent-secures-undisclosed-amount-in-a-seed-round-led-by-al-tawuniya-ins%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\/19\/darent-secures-undisclosed-amount-in-a-seed-round-led-by-al-tawuniya-ins\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1746.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"89818\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/darent-secures-undisclosed-amount-in-a-seed-round-led-by-al-tawuniya-ins\/1746-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1746.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1746.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1746.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1746.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89817\" class=\"content-area-description single-story post-89817 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-al-tawuniya-insurance tag-darent tag-enterpriseam-ksa tag-startup-watch tag-startups 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\/.d8507f5d-ba0f-4889-b3d0-a8b0a1c59076.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Homegrown proptech startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/darent.com\/\" style=\"\" rel=\"noopener\">Darent<\/a><\/strong><strong> secured an undisclosed amount in a seed funding<\/strong><strong> round<\/strong> led by <a target=\"_blank\" href=\"https:\/\/tawuniya.com\/en\/\" style=\"\" rel=\"noopener\">Al Tawuniya Ins.<\/a> with participation from <a target=\"_blank\" href=\"https:\/\/www.morganstanley.com\/about-us\/diversity\/inclusive-ventures-lab\" style=\"\" rel=\"noopener\">Morgan Stanley Inclusive Ventures Lab<\/a> \u2014 marking one of their first investments in the MENA region \u2014 and <a target=\"_blank\" href=\"https:\/\/bimventures.com\/\" style=\"\" rel=\"noopener\">BIM Ventures<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/09\/darent-closes-seed-round-led-al-tawuniya-insurance\" 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>Use of proceeds: <\/strong>Darent earmarked the funds to advance its tech capabilities and marketing drive, including investing in AI to improve the platform\u2019s ability to analyze markets and personalize recommendations for clients. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Darent: <\/strong>Founded in 2021 by Hanin Alsubaie (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/hanin-alsubaie-ph-d-545260b2\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), the MIT Accelerator graduate focuses on vacation home rentals, and managed to raise USD 1 mn a year on from its inception in a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2022\/03\/saudi-proptech-darent-raises-1-million-pre-seed-round\" style=\"\" rel=\"noopener\">pre-seed round<\/a> led by Watheeq Proptech Venture. SInce taking off two years ago, the platform has successfully increased property occupancy rates which now exceed 90% during peak seasons. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">IN OTHER STARTUP NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi businesswoman<\/strong> <strong>Amal bin Abdulaziz Al-Ajlan invested USD 250k in Egyptian<\/strong><strong> edtech startup Farid in a pre-seed funding round<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/09\/egyptian-edtech-farid-secures-250000-pre-seed\" style=\"\" rel=\"noopener\">press release<\/a>. Founded in 2024, Farid focuses on character development education and mental health awareness for children aged 3 to 18. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The funds will fuel Farid\u2019s expansion into the Kingdom and the UAE<\/strong>, while also helping it develop new content, hire new talents, and secure partnerships with schools and universities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Mawarid invests in US-based Sceye:<\/strong> Homegrown private investment firm Mawarid Holding has invested an undisclosed amount in US aerospace company Sceye in a series C funding round, <a target=\"_blank\" href=\"https:\/\/www.sceye.com\/in-the-news\/sceye-secures-funds-in-series-c-round-led-by-mawarid-holding-company\/\" style=\"\" rel=\"noopener\">according to a press release<\/a>. Sceye, which specializes in high-altitude platform systems, was valued at USD 535 mn. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-tawuniya-insurance\/\">Al Tawuniya Insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/darent\/\">Darent<\/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\/startups\/\">Startups<\/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=\"89819\" 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=\"89819\">\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\">SPOTLIGHT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/egypts-fra-head-talks-about-how-the-regulator-brought-new-instruments-depth-to-its-market\/\">\r\n                            Egypt\u2019s FRA head talks about how the regulator brought new instruments + depth to its market                        <\/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\/19\/egypts-fra-head-talks-about-how-the-regulator-brought-new-instruments-depth-to-its-market\/\" 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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Speaking at EFG Hermes\u2019 annual conference in London last week, Farid touched on the different regulatory changes the authority has introduced over the past several years and the changes seen across the country\u2019s IPO market, ins. sector, and the digitization push. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>From EGX to FRA:<\/strong> Transitioning from the bourse to the FRA allowed Farid to bring an inside perspective on the regulatory priorities for the agency, including facilitating the process for companies to IPO on the bourse, he said. \u201cWe discovered that in Egypt, for companies to get fully ready to be able to trade their shares on the market through a complete IPO, they need lots of time,\u201d Farid said. To facilitate that process and encourage the introduction of new paper on the EGX, the FRA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/781f8a28-a5ae-4f4f-b1e2-a24e80ce512a\" style=\"\" rel=\"noopener\">introduced in September 2022<\/a> amendments to listing rules that allow companies to temporarily list on the EGX while seeking regulatory approvals from the FRA. The amendments also granted companies a longer window to meet listing requirements. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The FRA also recently introduced changes to the listing rules for special purpose <\/strong><strong>acquisition vehicles (SPACs)<\/strong>, Farid noted. The regulator had first greenlit a proposal to allow SPACs in Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a464bafe-21f2-4b7e-a02e-63708d29114c\" style=\"\" rel=\"noopener\">back in 2021<\/a>. In introducing SPACs to Egypt, the FRA looked at the model introduced in the US and modified it to fit the local market. \u201cWe took a slightly different approach whereby the traditional model of SPACs that\u2019s in the US is allowed, but there\u2019s also a complementary model that also exists in Saudi and the UAE that introduces an SME platform,\u201d Farid said. This setup allows VC funds themselves to get listed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> \u201cIf we allow companies to be listed with a minimum capital requirement of EGP 1 mn, and we\u2019re allowing investors to take this risk, it doesn\u2019t make any sense for us to not allow VC funds to be listed as well,\u201d Farid said. The new model is \u201cnamed SPACs for marketing purposes but it\u2019s more about listing private equity and venture capital funds\u201d and eventually create a path for limited partners (LPs) in startups to have a clear exit scenario, he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Egyptian SPAC model takes heed of multinational institutions\u2019 guidance that <\/strong><strong>encourage the increased transparency that comes from listing a VC fund<\/strong>, Farid said, pointing to research from the European Bank of Reconstruction and Development, among others. \u201cThese institutions found that the performance of listed private equity and VC firms is by far superior to unlisted or \u2018opaque\u2019 peers,\u201d Farid said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This model is also designed to \u201cenable different asset management firms with the aim of <\/strong><strong>investing in startups<\/strong> and companies with newly developed ideas,\u201d while still providing investors with a clear exit mechanism, Farid said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Besides SPACs, the introduction of a voluntary carbon market with carbon credit trading<\/strong><strong> was another major development<\/strong> in the Egyptian market. Egypt officially launched <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf6f83bf-cf94-4686-a908-2e5c27b3c511\/egypt-launches-africa%e2%80%99s-first-carbon-market\" style=\"\" rel=\"noopener\">Africa\u2019s first carbon market<\/a> last month, which Farid stressed made Egypt \u201cone of the very few [countries] that decided to put in place a full-fledged regulatory framework\u201d for the market and to trade carbon credits. Egypt already had several different green and sustainability-linked debt instruments, including green bonds, brown bonds, and transition bonds, but \u201canother sweetener that adds returns to those types of investments is to issue carbon credits,\u201d Farid said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Carbon credits: Commodities or financial instruments?<\/strong> The idea of launching a regional platform for carbon credit trading originated at COP27, which Egypt hosted in Sharm El Sheikh, Farid said. \u201cBut the difficulty was that we needed to decide how to treat carbon credits in a regulatory sense,\u201d he said. The US\u2019 model considers carbon credits as a commodity, whereas in the EU, they are considered to be financial instruments. \u201cFor the credits to be treated as a commodity, you need to not see significant deviations in the prices \u2014 but in reality, there were huge price differences.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not all carbon credits are born equal:<\/strong> \u201cA carbon credit issued by a project that only put a filter on a factory chimney to reduce CO2 had one price, while another carbon credit that was issued for slashing CO2 in addition to addressing other SDG components \u2014 such as women\u2019s empowerment, poverty alleviation, etc. \u2014 had a much higher price. Accordingly, given that you have this significant price deviation, we had to treat it as a financial instrument, not a commodity, and we had to create the regulations accordingly,\u201d Farid explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cAs it currently stands, we have 16 projects that are registered with the FRA with carbon<\/strong><strong> credits eligible for trading,\u201d<\/strong> Farid said. These projects \u2014 which are studied and verified and have the proper ISO certifications related to carbon credits \u2014 are primarily in the agriculture space, Farid noted. Out of the 16 projects currently listed, 15 of them are agricultural projects \u201cwhere farms have invested in swapping out their diesel-powered machinery to run on solar panels\u201d and introducing other sustainable practices, he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not just Egyptian projects:<\/strong> The 16th project currently registered with the regulator is from India, Farid said, noting that the real idea behind launching Egypt\u2019s carbon market \u201cis to create a regional platform where Egypt, Morocco, Tunisia, Kenya, and other countries can register these projects and start seeing an aggregated trading platform for these players in the market.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/spacs\/\">SPACs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/spotlight\/\">SPOTLIGHT<\/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=\"89821\" 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=\"89821\">\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\">KUDOS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/culture-ministry-lands-ai-ethics-medal-whos-who-in-forbes-middle-easts-top-100-healthcare-leaders\/\">\r\n                            Culture Ministry lands AI Ethics Medal + Who\u2019s who in Forbes Middle East\u2019s Top 100 Healthcare Leaders                        <\/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\/19\/culture-ministry-lands-ai-ethics-medal-whos-who-in-forbes-middle-easts-top-100-healthcare-leaders\/\" 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 accolade recognizes the ministry\u2019s leadership in adopting ethical AI practices since 2022, and is part of a broader effort to ensure the responsible use of technology. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi claimed 23 spots in Forbes Middle East\u2019s ranking of the region\u2019s<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-healthcare-leaders-2024\/\" style=\"\" rel=\"noopener\">Top 100<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-healthcare-leaders-2024\/\" style=\"\" rel=\"noopener\">Healthcare Leaders for 2024<\/a><\/strong><strong>.<\/strong> Those named among the top 10 ranks: <\/p>\n<ul>\n<li>Sulaiman Al Habib, Founder & Chairman of Dr. Sulaiman Al Habib Medical Services Group (HMG); <\/li>\n<li>Nasser Al Huqbani, CEO of The Health Holding Company; <\/li>\n<li>Mazen Fakeeh, President of Fakeeh Care Group (FCG); <\/li>\n<li>Ayman Tamer, Group Chairman of Tamer Group; <\/li>\n<li>Makarem Sobhi Batterjee, President & Vice Chairman of Saudi German Health (SGH). <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi creators and productions took home a stack of awards at the fourth Gulf Theater<\/strong><strong> Festival in Riyadh, <\/strong>according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2173131\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>. The Taif Theater Group claimed the title of Distinguished National Group, while Saudi play Bahr secured accolades for Best Theater Direction and Best Theater Music. In the acting categories, Fajr Al Yami was recognized as Best Actress in a Supporting Role, and Shihab Al Shihab claimed the award for Best Actor in a Leading Role.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/culture-ministry\/\">Culture Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/kudos\/\">KUDOS<\/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=\"89823\" 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=\"89823\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/two-new-ikea-locations-coming-to-jazan-abha\/\">\r\n                            Two new Ikea locations coming to Jazan + Abha                        <\/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\/19\/two-new-ikea-locations-coming-to-jazan-abha\/\" 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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ASG plans to open 21 new Ikea branches by 2029, bringing the total number of outlets here to 30 from nine today, company officials said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4c931fb5-005a-4372-83c6-ed00d63f5af0\" style=\"\" rel=\"noopener\">earlier this year<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The retail, logistics and real estate player is also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3b4926ca-58b4-458f-9f52-3f515338ab4c\/circle-k-alsulaiman-acquires-major-stake-in-mazaya-fuel\" style=\"\" rel=\"noopener\">pushing for more Circle K stores<\/a>, recently snapping up a majority stake in fuel services company <a target=\"_blank\" href=\"https:\/\/mazayafuel.com\/\" style=\"\" rel=\"noopener\">Mazaya Fuel<\/a>, which has upwards of 130 fuel stations across the Kingdom.<\/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\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ajdan Real Estate Development and Aljazira Capital signed a SAR 2 bn <\/strong><strong>agreement to<\/strong><strong> launch the Aljazira Ajdan Real Estate Fund, as well as build mixed-use towers in Riyadh<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/ajdan.com\/news\/ajdan-and-aljazira-capital-to-launch-2-billion-riyal-real-estate-project-in-riyadh\" style=\"\" rel=\"noopener\">a press release<\/a>. The towers will be located on a 21k sqm site in the Al Rahmaniyah district and will feature luxury residential units, workspaces, cafes, restaurants, and entertainment spaces. <\/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\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Buruj Cooperative Ins. appointed Baker & McKenzie as its legal advisor for its potential<\/strong><strong> merger with Medgulf, <\/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=82584&anCat=1&cs=8270&locale=en#:~:text=Previous%20Announcement-,Buruj%20Cooperative%20Insurance%20Co.%20announces%20signing%20a%20Memorandum%20of%20Understanding,Gulf%20Insurance%20and%20Reinsurance%20Company.&text=Appointment%20of%20%E2%80%9CBaker%20%26%20McKenzie%E2%80%9D,(%E2%80%9CMedGulf%E2%80%9D).\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Buruj and Mediterranean and Gulf Ins. and Reins. (Medgulf) had signed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7e28331a-07ab-4329-a00e-695692e1f0ee\/alayed-makes-history-as-saudi%25e2%2580%2599s-first-woman-swimmer-at-the-olympics\" style=\"\" rel=\"noopener\">non-binding MoU in July<\/a> to evaluate a potential merger through a share swap, where Medgulf\u2019s capital would be upped to allow for the issuance of new shares to the shareholders of Buruj. Buruj also tapped Alinma Investment as its financial advisor in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e13f4c5b-8877-4902-830d-0c8f59cc2351\/seco-capital-launches-a-new-multi-instrument-fund\" style=\"\" rel=\"noopener\">August<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian mobility solutions provider Swvl secured USD 2.6 mn in contracts in Saudi for <\/strong><strong>3Q 2024<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.globenewswire.com\/news-release\/2024\/09\/17\/2947857\/0\/en\/Swvl-Secures-2-6-Million-in-New-Annual-Contracts-in-Saudi-Arabia-during-the-Third-Quarter-of-2024.html\" style=\"\" rel=\"noopener\">press release<\/a>. The expansion makes Saudi the company\u2019s fastest-growing market. The new contracts will see Swvl roll out its services across Riyadh, Dammam, Madina, and Jubail, with a focus on the education sector while also serving other industries such as food and beverage, healthcare, construction, and facility management.<\/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\">ENTERTAINMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first DreamPlay family entertainment center in the Middle East is set to open in The <\/strong><strong>Avenues, Riyadh in 4Q 2026<\/strong>, as part of a partnership between DreamWorks Animation, Universal Live Entertainment, and Kuwait\u2019s Alshaya Group, according to a <a target=\"_blank\" href=\"https:\/\/www.alshaya.com\/en\/media-centre\/alshaya-news\/dreamworks-animation-universal-live-entertainment-partner-with-alshaya-group-to-bring-beloved-characters-to-the-middle-east\/\" style=\"\" rel=\"noopener\">press release<\/a>. The new center will feature interactive play and creativity inspired by DreamWorks characters.<\/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\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alkhorayef Water and Power Technologies landed a SAR 220 mn project with the National<\/strong><strong> Water Company<\/strong> (NWC) to add 125k cubic meters per day in capacity to NWC\u2019s Tertiary Treatment Plant in Dammam, and carry out rehabilitation works for another existing plant, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=82581&anCat=1&cs=2081&locale=ar\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. No details on the timeline of the project were provided. <\/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\">DISPUTE WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Derayah Financial is taking Smart Tower\u2019s master tenant to court<\/strong>: Derayah Financial \u2014 the fund manager of Derayah Reit \u2014 has initiated legal action against the master tenant of Smart Tower to recover SAR 40 mn in overdue rent, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=82589&anCat=1&cs=4339&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The outcome of the case will determine its impact on the fund, it added.<\/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\">MINING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco is partnering with Lihytech, a KAUST-backed startup, to develop direct <\/strong><strong>lithium<\/strong><strong> extraction technology<\/strong> using brine from the oil giant\u2019s oilfields, according to <a target=\"_blank\" href=\"https:\/\/www.kaust.edu.sa\/en\/news\/aramco-and-lihytech-announce-strategic-collaboration-to-recover-lithium-from-oilfield-brines\" style=\"\" rel=\"noopener\">a press release<\/a>. The move is set to support the Kingdom\u2019s growing demand for lithium which is an essential component for producing EV batteries. The project is currently in its pilot phase. <\/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\">TOURISM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>he Public Investment Fund has launched a new company, Qsas, to create interactive<\/strong><strong> exhibitions<\/strong> <strong>inspired by Saudi heritage<\/strong> and Islamic history for pilgrims and tourists visiting the Kingdom, according to a <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/press-releases\/2024\/pif-launches-qsas-company-to-develop-immersive-experiences-inspired-by-heritage-culture-and-history\/\" style=\"\" rel=\"noopener\">statement,<\/a> Qsas plans to start with local exhibitions and then expand globally.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ajdan-real-estate-development\/\">Ajdan Real Estate Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aljazira-capital\/\">Aljazira Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alsulaiman-group-asg\/\">Alsulaiman Group (ASG)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/baker-mckenzie-2\/\">Baker &amp; McKenzie<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/buruj-cooperative-ins\/\">Buruj Cooperative Ins.<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/circle-k-alsulaiman\/\">Circle K Alsulaiman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ikea-alsulaiman\/\">Ikea Alsulaiman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mawarid-holding\/\">Mawarid Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/medgulf\/\">Medgulf<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/qsas\/\">Qsas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/riyadh-air\/\">Riyadh Air<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sceye\/\">Sceye<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sutherland\/\">Sutherland<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/swvl\/\">Swvl<\/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=\"89825\" 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=\"89825\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/19\/fed-kicks-off-easing-cycle-with-a-bang\/\">\r\n                            Fed kicks off easing cycle with a bang                        <\/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\/19\/fed-kicks-off-easing-cycle-with-a-bang\/\" 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 Open Market Committee\u2019s meeting voted 11 to 1 to reduce the federal funds rate to a range of 4.75% to 5%. Additional rate adjustments will be considered by policymakers based on \u201cincoming data, the evolving outlook, and the balance of risks,\u201d according to their statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Powell says nothing is set in stone: <\/strong>The Fed will respond flexibly to evolving economic conditions, chair Jay Powell said at a presser after the meeting, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/bff9e6d8-8906-4b3d-9ff3-72b091b6cd9e\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. Powell indicated that rates are not set on a \u201cfixed path\u201d and that the Fed may adjust its approach if inflation remains persistent. He also emphasized the central bank\u2019s readiness to act if unexpected weaknesses in the labor market emerge.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to expect:<\/strong> The Fed\u2019s updated projections include a further 50 bps rate cut by year end, another 100 bps in 2025, and a final 50 bps in 2026, bringing the benchmark rate to 2.75%-3%, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1495.pdf\" style=\"\" rel=\"noopener\">median forecast (pdf)<\/a>. The Fed has two meetings left this year, in November and December, implying two 25 bps rate cuts in each of the meetings. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is the Fed playing catch-up?<\/strong> The Fed\u2019s 50 bps reduction contrasts with the Fed\u2019s assessment that the US economy is in a good place, Egyptian-American economist Mohamed El Erian said in an <a target=\"_blank\" href=\"https:\/\/x.com\/elerianm\/status\/1836485208557674499\" style=\"\" rel=\"noopener\">X post<\/a>. \u201cToday's 50 bps move is a catch-up for not having reduced rates in July.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>The stock market responded positively, with the S&P 500, Dow, and Nasdaq Composite all posting gains before easing to close slightly down, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/fed-interest-rate-cut-inflation-live-09-18-2024\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> reports. Treasury yields also dipped after initially rising to 3.706%, settling at 3.685%. <\/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\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asia-Pacific markets are also reacting positively to the start of the era of monetary <\/strong><strong>easing<\/strong>, with Japan\u2019s Nikkei leading gains. Hong Kong\u2019s monetary authority followed the Fed\u2019s lead with a 50 bps rate cut, with Hang Seng futures pointing to a flat open after markets return to trade on Thursday following a day off yesterday. <strong>Wall Street futures<\/strong> are also up as traders continue to weigh the Fed\u2019s moves yesterday. <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tbody>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,921<\/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: -0.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,487<\/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: -4.1%)<\/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>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\">25,596<\/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: +4.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">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-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,343<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +21.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,423<\/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: -1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,390<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +8.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&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\">5,618<\/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: +17.8%)<\/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>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\">8,254<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +6.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,835<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +6.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 73.65<\/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>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 2.30<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,598.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 60,378.90<\/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% (YTD: +42.7%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI <\/strong>rose 0.3% <strong>yesterday <\/strong>on turnover of SAR 5.7 bn. The index is down 0.4% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Red Sea (+10.0%), Al Istithmar Reit (+8.0%) and Batic (+5.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>GIG (-2.6%), Tanmiah (-2.6%) and Walaa (-2.6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong> fell 0.1% <strong>yesterday <\/strong>on turnover of SAR 64.6 mn. The index is up 4.4% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Bena (+8.3%), Al Razi (+7.2%) and Saudi Top (+7.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> UFG (-30.0%), Edarat (-7.4%) and Dar Al Markabah (-5.3%)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Savola Group raised SAR 943.5 mn from its rump share offering<\/strong>, which was 8.1x oversubscribed, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=82583&anCat=1&cs=2050&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The 35.1 mn rump shares were offered at an average price of SAR 26.9 a piece. Savola\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/78765763-c900-47fb-9b48-d55fd42e216d\/savola-lines-up-board-approval-for-capital-hike\" style=\"\" rel=\"noopener\">SAR 6 bn rights issue<\/a> wrapped up earlier this week and was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6963bf8d-c12c-4b6b-bf86-4b8d894c566d\/islamic-bond-market-may-see-shift-from-asset-based-to-equity-like-sukuk#:~:text=Savola%20Group%E2%80%99s%20SAR%206%20bn%20rights%20issue%20was%2094.2%25%20subscribed%2C%20with\" style=\"\" rel=\"noopener\">94.2% subscribed<\/a>, with shares traded between SAR 26.6 and SAR 28.2. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Bena Steel\u2019s general assembly greenlit a 20% capital increase to SAR 60 mn<\/strong> by issuing 1 mn bonus shares at a rate of 1 new share for every 5 existing shares, as it looks to support growth and bolster its financial position, it said in a summary of <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1448.pdf\" style=\"\" rel=\"noopener\">results (pdf)<\/a> from an EGA meeting. The company has set aside SAR 10 mn from retained earnings to finance the capital increase.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Business as usual:<\/strong> Due to the capital hike, the fluctuation limits for the company\u2019s shares were set at SAR 36.95 yesterday, with outstanding orders canceled. The Securities Depository Center (Edaa) will deposit the additional shares into investors' portfolios by 22 September, according to a Capital Market Authority <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details?1dmy&urile=wcm:path:\/Tadawul_en\/SA-Tadawul\/SA-PricesAndIndeces\/SA-News\/SA-MarketNews\/CT-marketnews-%2018092024%20ca%20ann\" style=\"\" rel=\"noopener\">statement<\/a> by CMA. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND-<\/strong> Bena Steel is also distributing SAR 4.5 mn in dividends at SAR 0.9 per share for 2023, with the distribution dates to be announced at a later time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>The Saudi Printing and Packaging Company reported accumulated losses worth <\/strong><strong>SAR<\/strong><strong> 218.2 mn \u2014 equivalent to 36.4% of its capital \u2014 as of August<\/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=82595&anCat=1&cs=9550&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The losses stem from a drop in sales in both the printing and packaging segments, a SAR 30.5 mn impairment of assets, and rising financing costs. The company plans to expand its product range, consolidate packaging operations, restructure its printing sectors, and reduce bank loans to cut financing costs in order to stem the losses. Listed companies that face accumulated losses exceeding 20% of capital must disclose plans to turnaround their finance, as per market regulations. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/us-federal-reserve\/\">US Federal Reserve<\/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=\"89827\" 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\/19\/89827\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89827\" class=\"content-area-description single-story post-89827 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>16-19 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>24-25 September (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ksa.futurebanksummit.com\/\" style=\"\">Future Banks Summit & Awards<\/a><\/span><span style=\"font-weight:400;\">, InterContinental Hotel, 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 style=\"font-weight:400;\">27 September (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 October (Tuesday):<\/span> <span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mepra.org\/2024-mepra-leadership-majlis-ksa-speakers\/\" style=\"\">MEPRA KSA Leadership Majlis<\/a><\/span><span style=\"font-weight:400;\">, Madareem Crown Hotel, 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>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>28 November-14 December (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/riyadhart.sa\/en\/noor-riyadh\/\" style=\"\">Noor Riyadh<\/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>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\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>Almajed Oud retail tranche 8.2x covered | FinMin closes September sukuk issuance | Egypt eyeing Saudi investments in Ras Banas?<\/p>\n","protected":false},"featured_media":89803,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-89802","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"2cbb6049-165e-4203-b812-89c7c05ee337","teaser":"Almajed Oud retail tranche 8.2x covered | FinMin closes September sukuk issuance | Egypt eyeing Saudi investments in Ras Banas?","photo_url":"https:\/\/ent.news\/2024\/9\/1546.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Almajed Oud draws in strong retail investor interest for Tadawul IPO - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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