{"id":91072,"date":"2024-10-31T00:00:00","date_gmt":"2024-10-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=91072"},"modified":"2025-12-14T19:24:01","modified_gmt":"2025-12-14T19:24:01","slug":"pif-backs-usd-2-bn-middle-east-focused-pe-fund","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/pif-backs-usd-2-bn-middle-east-focused-pe-fund\/","title":{"rendered":"PIF backs USD 2 bn Middle East-focused PE fund"},"content":{"rendered":"<section id=\"91074\" 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=\"91074\">\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\/10\/31\/sab-invest-hang-seng-hong-kong-etf-hits-tadawul-today\/\">\r\n                            THIS MORNING: Sab Invest Hang Seng Hong Kong ETF hits Tadawul 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\/10\/31\/sab-invest-hang-seng-hong-kong-etf-hits-tadawul-today\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We have chapter and verse on everything you need to know in this morning\u2019s news well, below. <\/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 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sabinvest.com\/en\/hangsenghongkongetf\" style=\"\" rel=\"noopener\">Sab Invest Hang Seng Hong Kong ETF<\/a><\/strong><strong> begins trading on Tadawul\u2019s main<\/strong><strong> market <\/strong><strong>today <\/strong>under the ticker symbol 9411, according to <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-2024102922\" style=\"\" rel=\"noopener\">a Tadawul disclosure<\/a>. The ETF will have a daily cap of \u00b110% on price fluctuation. The ETF tracks Hong Kong-listed stocks, which follows <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d68a2eb6-2f0d-4eb4-a958-a4eb0595b96f\/first%253cmark%253e-saudi%253c%2Fmark%253e-etf-in-asia-closes-up-on-day-one,-could-cross-list-in-mainland-china\" style=\"\" rel=\"noopener\">last year\u2019s listing<\/a> of the first Saudi-focused ETF on the Hong Kong exchange.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been a busy week for ETFs:<\/strong> Bank Albilad\u2019s CSOP MSCI Hong Kong China ETF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6a922a0c-c70a-4ba2-85bb-bcd1403bb75d\/bank-albilad%25e2%2580%2599s-csop-msci-hong-kong-china-etf-starts-trading-on%253cmark%253e-tadawul%253c%2Fmark%253e%253cmark%253e-today%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">started<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6a922a0c-c70a-4ba2-85bb-bcd1403bb75d\/bank-albilad%25e2%2580%2599s-csop-msci-hong-kong-china-etf-starts-trading-on%253cmark%253e-tadawul%253c%2Fmark%253e%253cmark%253e-today%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">trading yesterday<\/a> on Tadawul.<\/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>WEATHER WARNING-<\/strong><strong> Moderate to heavy rains, winds of up to 60 km\/h, floods, and hail <\/strong><strong>will <\/strong><strong>hit parts of Makkah and Madinah from today through Monday<\/strong>, hitting their peak on Thursday and Friday, the National Center of Meteorology warned in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2766.pdf\" style=\"\" rel=\"noopener\">weather report (pdf)<\/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\">PSA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some 230 Mercedes S-class vehicles are being recalled over manufacturing defects in <\/strong><strong>the engine control unit system<\/strong> that may lead to loss of vehicle torque, high exhaust temperature, damage to surrounding components, and fire, the Commerce Ministry said in a <a target=\"_blank\" href=\"https:\/\/x.com\/MCgovSA\/status\/1851551564600615296\" style=\"\" rel=\"noopener\">post on X<\/a>. The vehicles are from the 2022-2023 model year. You can tell if your vehicle is affected by going to <a target=\"_blank\" href=\"http:\/\/recalls.sa\" style=\"\" rel=\"noopener\">recalls.sa<\/a> and typing in your VIN number. Distributors Ibrahim Al Juffali Automotive Company will set things right without charge.<\/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>Hong Kong Exchanges and Clearing (HKEX) plans to open a Riyadh office in 2025<\/strong>, aiming to facilitate Middle Eastern investors\u2019 access to Hong Kong\u2019s financial products, HKEX said in a <a target=\"_blank\" href=\"https:\/\/www.hkex.com.hk\/News\/News-Release\/2024\/241030news?sc_lang=en\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> This comes a few months after the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/75d0ab8b-54f8-4683-8d6d-6f1142e83b44\/stock%253cmark%253e-market%253c%2Fmark%253e-love-in\" style=\"\" rel=\"noopener\">Hong Kong edition<\/a> of Tadawul\u2019s flagship Capital Market Forum in May, which was then followed by a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ee93ba14-f14f-4737-b765-42f23fd3fa54\/get-ready-for-an-aviation-heavy-week-with-two-big-global-conferences-in-town\" style=\"\" rel=\"noopener\">five-day trip<\/a> that saw some 30 senior officials from Hong Kong touch base in Riyadh, Abu-Dhabi, and Dubai to ramp up cross-border investments.<\/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=\"wwtt3\"><\/a> <strong>#2- The Kingdom is looking to put up 6 GW of gas turbine combined cycle power plants for<\/strong><strong> tender in 2025<\/strong>, Energy Minister AbdulAziz bin Salman said, according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/projects\/utilities\/saudi-arabia-plans-to-tender-6-gw-of-ccs-ready-gas-power-plants-in-2025-x4n19m08\" style=\"\" rel=\"noopener\">Zawya<\/a>. The facilities, which will have carbon capture and storage readiness, will be procured by the Saudi Power Procurement Company under an independent power producer model. No information was provided on the number or value of the tenders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.markaz.com\/ar\/\" style=\"\" rel=\"noopener\">Kuwait Financial Centre (Markaz)<\/a><\/strong><strong> is seeking a license from the Capital Market<\/strong><strong> Authority to establish a Saudi-based subsidiary<\/strong>, which will operate in fund management, investment banking services, and investment advisory, CEO Ali Khalil told Asharq News (<a target=\"_blank\" href=\"https:\/\/asharq.com\/live\/?q=%D8%AE%D9%84%D9%8A%D9%84%20&replay_video_id=Asharq-2024-10-30_10-48-14\/\" style=\"\" rel=\"noopener\">watch, runtime: 1:25<\/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\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Neom has allocated over SAR 60 bn to investments in private sector projects and <\/strong><strong>over SAR 30 bn to debt funding during the past 18-24 months<\/strong>, Neom\u2019s Deputy CEO Rayan Fayez was quoted as saying by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/saudis-neom-has-committed-more-than-16-bln-private-sector-deputy-ceo-says-2024-10-30\/\" 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>#2- <\/strong><strong>Retail gold purchases in the Kingdom \u2014 including gold jewelry and bullion \u2014 fell <\/strong><strong>9.25% y-o-y in <\/strong><strong>9M 2024 to 36.3 tons<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4360536\/%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D9%88%D9%86-%D9%8A%D8%B4%D8%AA%D8%B1%D9%88%D9%86-36-3-%D8%B7%D9%86-%D8%B0%D9%87%D8%A8-%D9%81%D9%8A-9-%D8%A3%D8%B4%D9%87%D8%B1-%D9%88%D8%A7%D9%84%D8%B1%D8%A8%D8%B9-%D8%A7%D9%84%D8%AB%D8%A7%D9%84%D8%AB-%D9%8A%D8%B3%D8%AC%D9%84-%D8%A7%D9%86%D8%AE%D9%81%D8%A7%D8%B6%D8%A7-16\" style=\"\" rel=\"noopener\">Mubasher data<\/a> shows. In 3Q 2024, retail gold purchases also dropped 15.9% y-o-y to 11.6 tons in 3Q 2024.<\/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\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another delay?<\/strong> Opec\u2019s planned oil output hikes in December could be pushed back for another month or more amid persistent concerns of soft oil demand and a glut in supply, four sources close to the matter told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-could-delay-planned-december-oil-output-hike-sources-say-2024-10-30\/\" 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>REMEMBER- <\/strong>Opec+ initially planned to start phasing out production cuts in October, but later pushed the plans back to December as oil prices fell.<\/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>For the first time in a while, business news is making it to the top of the foreign pr<\/strong><strong>ess\u2019 front pages<\/strong> as Big Tech continue to report their 3Q earnings \u2014 with Meta and Microsoft both out with their figures for the quarter. Plus: The latest US economy figures are out, and Israel and Lebanon could be approaching a ceasefire. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Concerns among investors that AI investments will not translate into tangible returns anytime soon continue this quarter<\/strong>, with only Google owner <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bdc450d5-b02f-4630-a03b-ec3c97b01c78\/this-morning:-covestro-board-likely-to-give-its-nod-to-adnoc%e2%80%99s-takeover-bid\" style=\"\" rel=\"noopener\">Alphabet<\/a> seeming to prove that the payoff is real so far. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Microsoft\u2019s shares fell in overnight trading after the tech giant forecast constricted growth in its Azure business <\/strong>due to a lack of data center capacity, bringing jitters back to investors who have been waiting for tech firms\u2019 AI investments to pay off. The otherwise upbeat results saw a 16% y-o-y increase in revenues and net income come in higher than expected. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-30\/microsoft-cloud-fuels-stronger-than-expected-revenue-growth?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/771fa4d6-9412-482f-af89-2200800f868e\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/microsoft-msft-q1-earnings-report-2025-62f428f1?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/10\/30\/microsoft-msft-q1-earnings-report-2025.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Meta\u2019s earnings came in slightly lower than expected<\/strong>, pushing shares to decline in after hours trading, on slower-than-expected growth in daily active users. CEO Mark Zuckerberg warned that more AI investments will come as the company continues to prioritize projects like the metaverse and AI-powered glasses. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-30\/meta-sales-narrowly-beat-on-ai-boosting-advertising-revenue?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/facebook-parent-meta-platforms-forecasts-holiday-quarter-revenue-above-estimates-2024-10-30\/\" 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>IN MACRO NEWS- The US economy grew at a 2.8% clip in 3Q 2024<\/strong>, slightly short of economists\u2019 expectations of 3% growth. The results come just a few days before elections begin, and a week before the Federal Reserve meets to decide on interest rates. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/77fc8220-fda6-46d5-98f1-67451d2c9cca\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/10\/30\/us-gdp-q3-2024.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/10\/30\/business\/economy\/economy-gdp-report.html\" style=\"\" rel=\"noopener\">New York Times<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME- Israel is in talks for a potential ceasefire in Lebanon<\/strong>, with a draft proposal carried by Israeli media yesterday suggesting a potential agreement that could see a 60-day pause in fighting. Lebanese Prime Minister Najib Mikati said talks with the US envoys suggest an agreement could be reached before the end of the month and before 5 November. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US envoys for the Middle East Amos Hochstein and Brett McGurk are due to land in the Middle East today to discuss the potential agreement<\/strong> with Israeli Prime Minister Benjamin Netanyahu. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-30\/israel-eyes-deal-to-end-lebanon-combat-after-weakening-hezbollah?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/senior-biden-advisers-visit-israel-try-end-war-lebanon-axios-reports-2024-10-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/693a2d25-16ab-4e05-9133-84e196bcf62f\" style=\"\" rel=\"noopener\">FT<\/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\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WWE Raw is coming to Riyadh for the first time ever on next Saturday and Sunday, 2-3 November<\/strong>, kicking off on the back of the WWE Crown Jewel event the day prior, Turki Alalshikh said in a <a target=\"_blank\" href=\"https:\/\/x.com\/Turki_alalshikh\/status\/1845914196032016867\" style=\"\" rel=\"noopener\">post on X<\/a>. You can book your Raw tickets <a target=\"_blank\" href=\"https:\/\/webook.com\/en\/events\/wwe-raw-rs24-tickets-874393\" style=\"\" rel=\"noopener\">here<\/a>, and your Crown Jewel tickets <a target=\"_blank\" href=\"https:\/\/webook.com\/en\/events\/wwe-crown-jewel-rs24-tickets-116028\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two-day <\/strong><strong><a target=\"_blank\" href=\"https:\/\/roadsafety.irf.global\/\" style=\"\" rel=\"noopener\">Road Safety and Sustainability Conference and Exhibition<\/a><\/strong><strong> will open its <\/strong><strong>doors next Sunday, 3 November<\/strong>, bringing global experts together to discuss technological advancements, AI applications, and sustainability in the transport sector.<\/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.terrapinn.com\/exhibition\/saudi-rail\/index.stm\" style=\"\" rel=\"noopener\">Saudi Rail Conference and Exhibition<\/a><\/strong><strong> will take place on 20-21 November<\/strong> at the Riyadh International Convention and Exhibition Center. The event will showcase developments in the railway sector and provide insights from over 150 local and international speakers.<\/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\/desert-technologies\/\">Desert Technologies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment\/\">Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2838.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2838.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91077\" class=\"content-area-description single-story post-91077 post type-post status-publish format-standard has-post-thumbnail hentry category-future-investment-initiative tag-ai tag-aramco tag-energy tag-enterpriseam-ksa tag-foreign-direct-investment-fdi tag-future-investment-initiative tag-future-investment-initiative-fii tag-king-abdullah-financial-district-kafd tag-public-investment-fund-pif wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.c21d89be-a6d2-4add-9c44-edfaf01fc27d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Aramco\u2019s carbon storage project coming online soon, PIF targets new funds, and Saudi eyes AI leadership on <\/strong><strong>day two of FII:<\/strong> The second and penultimate day of the Future Investment Initiative (FII) forum in Riyadh saw Aramco and the Public Investment Fund (PIF) inking agreements left and right, while Saudi set out ambitious AI plans and we got updates on a new monorail for KAFD. Plus so. Much. More. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ARAMCO FIRING ON ALL CYLINDERS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Aramco inked a collaboration framework agreement with Vietnam Oil and Gas Group<\/strong> <strong>(Petrovietnam)<\/strong> to explore energy storage, supply, and trade in Vietnam, according to a <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2024\/aramco-and-petrovietnam-sign-collaboration-framework-agreement\" style=\"\" rel=\"noopener\">press release<\/a>. No further details were shared on the agreement. Though Aramco has supplied crude oil to Vietnam, this marks its first potential investment in the country, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/vietnam-says-saudi-aramco-wants-invest-oil-refining-petrol-distribution-2024-10-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- SIDF and Taulia join Aramco to provide affordable financing to its supply chain:<\/strong> Aramco, the Saudi Industrial Development Fund (SIDF) and working capital management firm Taulia partnered to establish a supply chain financing program, according to a <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2024\/aramco-sidf-and-taulia-announce-supply-chain-financing-solution\" style=\"\" rel=\"noopener\">press release<\/a>. The initiative aims to provide affordable financing to Aramco\u2019s suppliers to improve liquidity, liquidity forecasting, and supply chain resilience. It is expected to unlock SAR bns in liquidity, optimize working capital, and enhance business relationships across Aramco\u2019s supply chain.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Aramco\u2019s planned 9 mn carbon storage project in Jubail will begin production by 2027 or<\/strong><strong> 2028<\/strong>, putting it on track to be the world\u2019s largest project of its kind, Aramco CEO Amin Nasser <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4360319\/-%D8%A3%D8%B1%D8%A7%D9%85%D9%83%D9%88-%D8%AA%D8%B4%D9%8A%D8%AF-%D9%85%D8%B1%D9%83%D8%B2%D8%A7-%D9%84%D8%AA%D8%AE%D8%B2%D9%8A%D9%86-9-%D9%85%D9%84%D8%A7%D9%8A%D9%8A%D9%86-%D8%B7%D9%86-%D9%83%D8%B1%D8%A8%D9%88%D9%86-%D8%A8%D8%A7%D9%84%D9%85%D9%85%D9%84%D9%83%D8%A9-%D8%AE%D9%84%D8%A7%D9%84-3-%D8%B3%D9%86%D9%88%D8%A7%D8%AA\/\" style=\"\" rel=\"noopener\">said at the forum<\/a>. The accelerated carbon capture and sequestration project, which Aramco signed the agreement for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/45bcc40a-f62b-4d33-a403-be824029ee65\/saudi-arabia-makes-big-splash-with-sgi\" style=\"\" rel=\"noopener\">back in November 2022<\/a>, will see around 6 mn tons of CO2 coming from Aramco, while the rest will come from industrial sources. Scotland-based consulting and engineering firm Wood finalized the front-end engineering and design (FEED) scope for the first phase in  <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3cc382bd-a12c-4d64-9d39-4e16de4f54e1\/feed-scope-complete-for-world%25e2%2580%2599s-largest-carbon-capture-hub-in-saudi\" style=\"\" rel=\"noopener\">June<\/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\">PRIVATE EQUITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>PIF inked a non-binding MoU with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.brookfield.com\/\" style=\"\" rel=\"noopener\">Brookfield Asset Management<\/a><\/strong><strong>to back Brookfield\u2019s planned USD 2 bn Middle East-focused<\/strong> <strong>private equity fund<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/press-releases\/2024\/pif-and-google-cloud-to-create-advanced-ai-hub-in-saudi-arabia\/\" style=\"\" rel=\"noopener\">press release<\/a>. Under the agreement, PIF will serve as the anchor investor for Brookfield Middle East Partners (BMEP), which will direct at least 50% of its capital for investments in Saudi Arabia across the local industrials, technology, and healthcare sectors. The Saudi-focused investments will also be earmarked for \u201cleading international companies looking to expand in the local market,\u201d which will help drive foreign direct investment into the Kingdom, the press release said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Brookfield also plans to expand its Riyadh office and establish the Brookfield Academy<\/strong><strong> locally to support talent development.<\/strong> The MoU is contingent upon obtaining regulatory approvals and meeting specified conditions.The agreement also got ink in <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/saudi-arabia-advanced-talks-over-zambia-copper-mine-stake-maaden-ceo-says-2024-10-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-30\/saudi-arabia-s-pif-to-anchor-2-billion-brookfield-mideast-fund\" style=\"\" rel=\"noopener\">Bloomberg<\/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\">ARTIFICIAL INTELLIGENCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- PIF + Google Cloud partnered to create a global AI hub near Dammam<\/strong>, aimed at upskilling the local workforce through AI programs, according to a <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/press-releases\/2024\/pif-and-google-cloud-to-create-advanced-ai-hub-in-saudi-arabia\/\" style=\"\" rel=\"noopener\">press release<\/a>. Using Google Cloud\u2019s technology, the hub will focus on improving AI applications and data services, particularly Arabic language models, potentially adding USD 71 bn to Saudi\u2019s GDP over eight years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#2- Saudi Arabia is looking to bank on AI\u2019s mega electricity requirements by offering the<\/strong><strong> world\u2019s lowest energy <\/strong><strong>costs for data centers<\/strong>, at 4.8 cents per kWh using gas and 6.8 cents for renewables, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2024-10-30\/ai-leaders-gather-in-saudi-arabia-to-talk-energy\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Blackstone CEO Stephen Schwarzman warned that electricity usage could rise by 40% in the next decade due to the AI boom, potentially hindering technological progress and straining the global grid. Google CEO Eric Schmidt noted that Saudi Arabia could leverage its abundant resources to become a key player in the energy-intensive AI sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- A global pledge for inclusive AI: <\/strong>The FII also saw the launch of the AI Inclusive Initiative, uniting global tech companies, knowledge partners, policymakers, and the private sector to fund AI projects in emerging markets, according to a <a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/future-investment-initiative-fii-institute-day-1---october-29-2024-302290660.html\" style=\"\" rel=\"noopener\">press release<\/a>. The FII Institute's 19 Knowledge Partners will offer expertise and capacity-building support to drive the initiative forward.<\/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\">OTHER PROJECT NEWS FROM FII-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- KAFD is getting a new monorail: <\/strong>The King Abdullah Financial District Development and Management Company (KAFD DMC) inked an agreement with <a target=\"_blank\" href=\"https:\/\/www.hassanallam.com\/\" style=\"\" rel=\"noopener\">Hassan Allam Construction Saudi<\/a>, <a target=\"_blank\" href=\"https:\/\/www.crrcgc.cc\/crrcgc\/\" style=\"\" rel=\"noopener\">CRRC Hong Kong<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.crrcgc.cc\/pzen\/\" style=\"\" rel=\"noopener\">CRRC Nanjing Puzhen<\/a> to launch a 3.6 km driverless monorail system, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2771.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a> from our friends at Hassan Allam. The monorail will feature six trains and stations, integrated with the Riyadh Metro, and an expected capacity of 3.5k passengers per hour.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Diriyah is on track:<\/strong> USD 15 bn out of the USD 64 bn allocated to the Diriyah project has been spent, with the first hotel set to open by late 2024, followed by 41 more hotels and nine museums, CEO Jerry Inzerillo said, according to <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/10\/29\/article_2752116.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/saudi-arabia-advanced-talks-over-zambia-copper-mine-stake-maaden-ceo-says-2024-10-30\/\" 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>#2- Manara Minerals expects to finalize its acquisition of a minority stake in First Quantum Minerals\u2019 <\/strong><strong>Zambian<\/strong><strong> copper and nickel assets by the end of the year<\/strong>, Ma\u2019aden CEO and Manara Minerals Vice Chairman Robert Wilt told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/saudi-arabia-advanced-talks-over-zambia-copper-mine-stake-maaden-ceo-says-2024-10-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. The Ma\u2019aden and PIF JV was reported to be in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/950fd0a5-b1ba-4f9f-a60e-b80cda8090dc\/manara-minerals-in-advanced-talks-for-usd-1.5-2-bn-stake-in-zambia-mines\" style=\"\" rel=\"noopener\">advanced talks<\/a> for a USD 1.5-2 bn acquisition of a 15-20% minority stake in the mines in Zambia earlier this 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\">COMMENTARY + OTHER UPDATES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Saudi\u2019s IPO market is \u201con fire,\u201d<\/strong> fueled by a surge in growth capital and liquidity, including family wealth transitions, Moelis and Co. CEO Ken Moelis said, according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/markets\/equities\/saudi-arabia-is-among-the-top-ipo-markets-globally-ken-moelis-fxucmf7p\" style=\"\" rel=\"noopener\">Zawya<\/a>. \u201cThis is what happens when you have an exciting market, high growth, and capital that needs to go in and businesses that want the capital to grow,\u201d he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bucking the global trend:<\/strong> The volume of IPO activity in the Kingdom comes in contrast with the global slowdown in IPOs, JP Morgan CEO of Asset and Wealth Management Mary Callahan Erdoes said. Erdoes pointed to stricter regulations, activist investors, and businesses opting to remain private longer as reasons behind the current global trend. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Saudi citizens are the world\u2019s most satisfied with their lives<\/strong>, landing at an 84% satisfaction score, contrasted with a global dissatisfaction rate of 52%, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2733.pdf\" style=\"\" rel=\"noopener\">2024 FII Priority Compass survey (pdf)<\/a>. On a global scale, 40% cite economic conditions as their main concern, followed by governance (19%), healthcare (17%), and environmental issues (13%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Global South<\/strong><strong> is more optimistic about technology\u2019s potential to improve lives (60%)<\/strong><strong> than the Global North (34%).<\/strong> Additionally, 37% view AI as a potential threat, with 39% uncertain about its impact. The survey covers 24 countries, representing 62% of the world's population.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Elon Musk made a surprise virtual appearance at the <\/strong><strong>forum<\/strong> to discuss the rapid pace of developments in AI and how it could match human abilities within a year or two. <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-29\/musk-speaks-at-fii-years-after-feud-with-saudi-wealth-fund-boss\" style=\"\" rel=\"noopener\">Bloomberg<\/a> took note of the story.<\/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\/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\/foreign-direct-investment-fdi\/\">Foreign Direct Investment (FDI)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/future-investment-initiative\/\">Future Investment Initiative<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/future-investment-initiative-fii\/\">Future Investment Initiative (FII)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/king-abdullah-financial-district-kafd\/\">King Abdullah Financial District (KAFD)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91079\" 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=\"91079\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/acwa-power-inks-usd-1-8-bn-of-financing-renewables-agreements-at-fii\/\">\r\n                            Acwa Power signs financing and renewable agreements worth USD 1.8 bn at FII forum                        <\/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\/10\/31\/acwa-power-inks-usd-1-8-bn-of-financing-renewables-agreements-at-fii\/\" 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\/10\/31\/acwa-power-inks-usd-1-8-bn-of-financing-renewables-agreements-at-fii\/')\">\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\/10\/31\/acwa-power-inks-usd-1-8-bn-of-financing-renewables-agreements-at-fii\/\">\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=Acwa Power inks USD 1.8 bn of financing + renewables agreements at FII&url=https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/acwa-power-inks-usd-1-8-bn-of-financing-renewables-agreements-at-fii\/\">\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\/10\/31\/acwa-power-inks-usd-1-8-bn-of-financing-renewables-agreements-at-fii\/&title=Acwa Power inks USD 1.8 bn of financing + renewables agreements at FII\">\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=Acwa+Power+inks+USD+1.8+bn+of+financing+%2B+renewables+agreements+at+FII+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F10%2F31%2Facwa-power-inks-usd-1-8-bn-of-financing-renewables-agreements-at-fii%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\/10\/31\/acwa-power-inks-usd-1-8-bn-of-financing-renewables-agreements-at-fii\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2824.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91080\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/acwa-power-inks-usd-1-8-bn-of-financing-renewables-agreements-at-fii\/2824-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2824.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2824.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2824.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2824.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91079\" class=\"content-area-description single-story post-91079 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-acwa-power tag-debt tag-energy tag-enterpriseam-ksa tag-future-investment-initiative-fii tag-renewable-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.5fd2fa17-c50c-485c-bc56-00a576d49235.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>PIF-backed <\/strong><strong>Acwa Power inked four agreements worth a combined USD 1.8<\/strong> <strong>bn<\/strong><strong> (SAR 6.7 <\/strong><strong>bn) at the Future Investment Initiative (FII) Forum<\/strong> earlier this week, according to a <a target=\"_blank\" href=\"https:\/\/www.acwapower.com\/news\/acwa-power-signs-agreements-worth-usd-1784-million-at-fii8-in-riyadh-en\/\" style=\"\" rel=\"noopener\">statement<\/a>. The newly-signed partnerships include project financing, research and development, renewable energy, and storage solutions across projects in the GCC, Morocco, Uzbekistan, and China.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Corporate credit agreement with the National Bank of Kuwait (NBK):<\/strong> Acwa signed a USD 690 mn (SAR 2.6 bn) corporate finance agreement with NBK to back upcoming project pipelines in Saudi Arabia, Kuwait, and other markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Renewables murabaha financing agreement with the IFC for Uzbekistan projects:<\/strong> Acwa also secured a USD 240 mn (SAR 901 mn) Shariah-compliant equity bridge loan from the World Bank\u2019s International Finance Corporation (IFC) to support two major solar power and storage projects in Uzbekistan, according to an <a target=\"_blank\" href=\"https:\/\/www.ifc.org\/en\/pressroom\/2024\/ifc-partners-with-acwa-power-to-support-uzbekistan-s-renewable-energy-transition\" style=\"\" rel=\"noopener\">IFC statement<\/a>. The four-year financing murabaha agreement will include a USD 227.8 mn A-Loan and a USD 12.3 mn trust loan under IFC\u2019s Managed Co-Lending Portfolio Program. The funding will back Acwa\u2019s equity investments in the projects over the coming four years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Project details:<\/strong> The projects cover the construction and operation of a 1 GW solar PV plant, a 668 MW battery and energy storage system (BESS), and some 500 km of power transmission lines. The developments are expected to deliver 2.4 GW hours of electric power per annum and cut 1.3 mn tons of yearly CO2 emissions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- A new wind farm to power Morocco battery plant:<\/strong> Acwa signed a USD 800 mn (SAR 3 bn) agreement with Gotion Power Morocco to develop a 500 MW wind farm and a 2k MWh battery energy storage system to power a Gotion battery manufacturing plant that is set to begin production in 1H 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Acwa also signed an R&D partnership with China\u2019s Lujiazui<\/strong><strong> Bureau to establish a USD 54 mn (SAR 202 mn) Shanghai research center<\/strong> focused on the development of solar, wind, energy storage, green hydrogen, and desalination technologies.<\/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 RENEWABLES NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Desert Technologies to expand <\/strong><strong>solar manufacturing capacity in Saudi: <\/strong>Renewable energy solutions company Desert Technologies is establishing a USD 200 mn factory in Jeddah to produce solar panels and cells, according to a company <a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/posts\/desert-technologies_%D8%AA%D9%83%D9%86%D9%88%D9%84%D9%88%D8%AC%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%AD%D8%B1%D8%A7%D8%A1-%D9%88%D9%85%D8%AF%D9%86-%D8%AA%D8%AA%D8%B9%D8%A7%D9%88%D9%86%D8%A7%D9%86-%D9%84%D8%A5%D9%86%D8%B4%D8%A7%D8%A1-activity-7257388923205677056-Efyk\" style=\"\" rel=\"noopener\">statement<\/a>. The factory will produce equipment with solar capacity of 5 GW per year, marking an increase from the company\u2019s current annual manufacturing capacity of 110 MW, reports <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-30\/saudi-solar-firm-plans-major-output-boost-on-green-energy-push\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Desert tech is boosting its capacity:<\/strong> The company said last year that it plans to raise its production capacity to 4 GW yearly and inked an MoU with Elsewedy Electric to boost its exports of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/63999a8a-e766-4e7d-8b07-77f12a176fff\" style=\"\" rel=\"noopener\">renewable energy products<\/a> to African markets. <\/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\/debt\/\">debt<\/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\/future-investment-initiative-fii\/\">Future Investment Initiative (FII)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/renewable-energy\/\">renewable energy<\/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=\"91081\" 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=\"91081\">\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\">AVIATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/riyadh-air-puts-in-usd-4-bn-order-for-60-a321neo-aircraft\/\">\r\n                            Riyadh Air puts in USD 4 bn order for 60 A321neo aircraft                        <\/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\/10\/31\/riyadh-air-puts-in-usd-4-bn-order-for-60-a321neo-aircraft\/\" 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\/10\/31\/riyadh-air-puts-in-usd-4-bn-order-for-60-a321neo-aircraft\/')\">\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\/10\/31\/riyadh-air-puts-in-usd-4-bn-order-for-60-a321neo-aircraft\/\">\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=Riyadh Air puts in USD 4 bn order for 60 A321neo aircraft&url=https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/riyadh-air-puts-in-usd-4-bn-order-for-60-a321neo-aircraft\/\">\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\/10\/31\/riyadh-air-puts-in-usd-4-bn-order-for-60-a321neo-aircraft\/&title=Riyadh Air puts in USD 4 bn order for 60 A321neo aircraft\">\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=Riyadh+Air+puts+in+USD+4+bn+order+for+60+A321neo+aircraft+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F10%2F31%2Friyadh-air-puts-in-usd-4-bn-order-for-60-a321neo-aircraft%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\/10\/31\/riyadh-air-puts-in-usd-4-bn-order-for-60-a321neo-aircraft\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2822.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91082\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/riyadh-air-puts-in-usd-4-bn-order-for-60-a321neo-aircraft\/2822-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2822.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2822.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2822.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2822.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91081\" class=\"content-area-description single-story post-91081 post type-post status-publish format-standard has-post-thumbnail hentry category-aviation tag-airbus tag-aviation tag-boeing tag-enterpriseam-ksa tag-riyadh-air wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.abd2c740-326b-4753-a1d9-4feb82c060ba.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>PIF-owned Riyadh Air placed a firm order with Airbus for 60 A321neo<\/strong><strong> aircraft<\/strong>, part of the European aircraft maker\u2019s best-selling aircraft family type, according to a <a target=\"_blank\" href=\"https:\/\/www.airbus.com\/en\/newsroom\/press-releases\/2024-10-riyadh-air-places-firm-order-for-60-airbus-a321neo-family-aircraft\" style=\"\" rel=\"noopener\">statement<\/a> from Airbus. The agreement was signed on the sidelines of the Future Investment Initiative forum. The story got ink from <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/riyadh-air-orders-60-airbus-a321-family-jets-industry-sources-say-2024-10-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-30\/airbus-nears-deal-for-dozens-of-jets-to-saudi-startup-riyadh-air\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong> The order will set Riyadh Air back some USD 4 bn, Reuters said, citing estimates accounting for usual markdowns from aviation consultancy <a target=\"_blank\" href=\"https:\/\/www.cirium.com\/services\/ascend\/\" style=\"\" rel=\"noopener\">Cirium Ascend<\/a>. Deliveries are expected to run between 2H 2026 and 2030, Riyadh Air CEO Tony Douglas said. The latest order brings Riyadh Air\u2019s orderbook to 132 aircraft, with the carrier gearing up to kick off operations next year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cutting in line:<\/strong> The lead time for the order is unusually short \u2014 given Airbus\u2019 significant backlogs \u2014 implying that Riyadh Air nabbed early slots previously booked by other airlines that could not make good on payments, industry sources said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The A320neo order is part of Riyadh Air\u2019s sustainability goals: <\/strong>The new investment \u201cwill ensure Riyadh Air operates one of the most fuel efficient fleets,\u201d Douglas said, adding that the purchase will help the Kingdom meet its decarbonization targets. The A321neo aircraft family deploys new engines and specially-designed wingtips that cut fuel consumption and CO2 emission by 20% in comparison to legacy single-aisle aircraft, while also cutting back on noise pollution, according to Airbus. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yet another hit for Boeing: <\/strong>The latest Airbus order follows speculation that Riyadh Air was close to sealing a 100-plane purchase from Boeing, with the airline cautioning at the time that both Airbus and Boeing were being considered for an upcoming order of narrowbody jets, Reuters noted. <\/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 AVIATION NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hong Kong carrier Cathay Pacific will run three weekly flights between Riyadh and Hong <\/strong><strong>Kong<\/strong>, connecting King Khalid International Airport with Hong Kong International Airport, King Khalid International Airport <a target=\"_blank\" href=\"https:\/\/x.com\/KKIASA\/status\/1851246168488943798\" style=\"\" rel=\"noopener\">said on X<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/airbus\/\">Airbus<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/boeing\/\">Boeing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/riyadh-air\/\">Riyadh Air<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91083\" 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=\"91083\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/investcorp-golden-horizon-fund-targets-ksa-uae-projects\/\">\r\n                            Investcorp Golden Horizon fund targets KSA + UAE projects                        <\/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\/10\/31\/investcorp-golden-horizon-fund-targets-ksa-uae-projects\/\" 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\/10\/31\/investcorp-golden-horizon-fund-targets-ksa-uae-projects\/')\">\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\/10\/31\/investcorp-golden-horizon-fund-targets-ksa-uae-projects\/\">\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=Investcorp Golden Horizon fund targets KSA + UAE projects&url=https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/investcorp-golden-horizon-fund-targets-ksa-uae-projects\/\">\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\/10\/31\/investcorp-golden-horizon-fund-targets-ksa-uae-projects\/&title=Investcorp Golden Horizon fund targets KSA + UAE projects\">\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=Investcorp+Golden+Horizon+fund+targets+KSA+%2B+UAE+projects+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F10%2F31%2Finvestcorp-golden-horizon-fund-targets-ksa-uae-projects%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\/10\/31\/investcorp-golden-horizon-fund-targets-ksa-uae-projects\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2816.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91084\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/investcorp-golden-horizon-fund-targets-ksa-uae-projects\/2816-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2816.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2816.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2816.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2816.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91083\" class=\"content-area-description single-story post-91083 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam-ksa tag-investcorp-capital tag-investment tag-investment-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\/10\/.f84751c6-1a54-49ca-a5cf-b62de4e4718d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Asset manager Investcorp Holdings\u2019 China-backed Investcorp Golden <\/strong><strong>Horizon fund is investing in three projects in the Middle East, primarily in Saudi Arabia and the UAE<\/strong>, CIO Rishi Kapoor told Bloomberg (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-30\/investcorp-s-china-backed-fund-tees-off-with-three-mideast-deals\" style=\"\" rel=\"noopener\">watch, runtime: 2:46<\/a>). Investments focus on the consumer services, healthcare, and business services sectors, though no further details were disclosed. The asset manager is targeting USD 750 mn for the fund. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Investcorp, which is backed by Abu Dhabi sovereign wealth fund Mubadala, launched a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6eb8cfd4-79df-4faa-84ef-791e334c26c2\/core-holdings-eyes-education,-real-estate-acquisitions-with-aed-5-bn-in-planned-investments\" style=\"\" rel=\"noopener\">USD 1 bn investment fund<\/a> in April, Investcorp Golden Horizon, to invest in high-growth companies in consumer, healthcare, logistics, and business services across the GCC area and China. China\u2019s sovereign wealth fund the China Investment Corporation, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5c36c4bd-de96-4c9e-a0ad-f7286877ee82\/major-developers-to-work-on-aed-1-bn-luxury-project-in-ras-al-khamah%25e2%2580%2599s-al-marjan-island\" style=\"\" rel=\"noopener\">Investcorp Capital<\/a>, alongside private investors from the GCC, are backing the fund.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The firm plans to expand its asset management portfolio from USD 53 to 100 bn<\/strong>, including global projects and Middle East-based investments, Kapoor tells Bloomberg. The firm also plans on capitalizing on more sovereign investors in the upcoming years.<\/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\/investcorp-capital\/\">Investcorp Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment\/\">Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91085\" 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=\"91085\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/ayen-acquires-egyptian-startup-elmawkaa-in-sar-seven-figure-transaction\/\">\r\n                            Ayen acquires Egyptian startup Elmawkaa in SAR seven-figure transaction                        <\/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\/10\/31\/ayen-acquires-egyptian-startup-elmawkaa-in-sar-seven-figure-transaction\/\" 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\/10\/31\/ayen-acquires-egyptian-startup-elmawkaa-in-sar-seven-figure-transaction\/')\">\n                    Copy Link                <\/a>\n\n  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       <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/ayen-acquires-egyptian-startup-elmawkaa-in-sar-seven-figure-transaction\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2799.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91086\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/ayen-acquires-egyptian-startup-elmawkaa-in-sar-seven-figure-transaction\/2799-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2799.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2799.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2799.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2799.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91085\" class=\"content-area-description single-story post-91085 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-construction tag-enterpriseam-ksa tag-real-estate 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\/10\/.69d7ac5e-25c0-45ef-b9d1-ed6055cb974a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Local real estate appraisal platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/ayenplatform\" style=\"\" rel=\"noopener\">Ayen<\/a><\/strong><strong> acquired Egyptian<\/strong><strong> construction <\/strong><strong>tech startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/elmawkaa.com\/\" style=\"\" rel=\"noopener\">Elmawkaa<\/a><\/strong><strong> in a SAR seven-figure transaction<\/strong> that will see Ayen integrate Elmawkaa\u2019s construction materials marketplace into its property evaluation platform, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2782.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The terms:<\/strong> The transaction will see Ayen fully acquire Elmawkaa through a share swap, with the founders and existing investors making a 100% exit from the company, Elmawkaa CEO Ebrahem Anwar told EnterpriseAM Egypt. Anwar and his fellow cofounders Mohamed Thabet and Mahmoud Habib will hold C-suite positions within Ayen as part of the agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale: <\/strong>The acquisition will allow Ayen to integrate Elmawkaa\u2019s materials marketplace into its existing, fee-based property valuation service, part of which involves suggesting potential renovations that could add value to users\u2019 property, Anwar told EnterpriseAM Egypt, explaining that the move will allow Ayen to direct clients to their own in-house marketplace, offering a more integrated experience \u2014 alongside contributing to the firm\u2019s expansion in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next for Ayen?<\/strong> Post-acquisition, the company plans to kick off an expansion drive in the Egyptian, Saudi, and Emirati markets, with the company looking to Elmawkaa to deepen its presence in Egypt. The company is also set to open a new pre-IPO investment round focused on real estate ins. and project financing, as the company gears up for expansion into new GCC markets, AlMohsen said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/construction\/\">Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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=\"91087\" 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=\"91087\">\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\/10\/31\/stc-vc-arm-tali-ventures-leads-usd-10-mn-series-b-round-for-trade-in-startup-northladder\/\">\r\n                            STC VC arm tali Ventures leads USD 10 mn series B round for trade-in startup NorthLadder                        <\/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\/10\/31\/stc-vc-arm-tali-ventures-leads-usd-10-mn-series-b-round-for-trade-in-startup-northladder\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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              <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=STC VC arm tali Ventures leads USD 10 mn series B round for trade-in startup NorthLadder&url=https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/stc-vc-arm-tali-ventures-leads-usd-10-mn-series-b-round-for-trade-in-startup-northladder\/\">\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\/10\/31\/stc-vc-arm-tali-ventures-leads-usd-10-mn-series-b-round-for-trade-in-startup-northladder\/&title=STC VC arm tali Ventures leads USD 10 mn series B round for trade-in startup NorthLadder\">\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=STC+VC+arm+tali+Ventures+leads+USD+10+mn+series+B+round+for+trade-in+startup+NorthLadder+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F10%2F31%2Fstc-vc-arm-tali-ventures-leads-usd-10-mn-series-b-round-for-trade-in-startup-northladder%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\/10\/31\/stc-vc-arm-tali-ventures-leads-usd-10-mn-series-b-round-for-trade-in-startup-northladder\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91088\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/stc-vc-arm-tali-ventures-leads-usd-10-mn-series-b-round-for-trade-in-startup-northladder\/1918-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1918.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91087\" class=\"content-area-description single-story post-91087 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam-ksa tag-northladder tag-saudi-telecom-company-stc tag-startup-watch tag-tali-ventures wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.4f62dc71-3603-45ee-bc49-f57cf5385221.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>STC\u2019s VC arm <\/strong><strong>tali Ventures<\/strong><strong> led a <\/strong><strong>USD 10 mn series B funding round for <\/strong><strong>Dutch-based trade-in solutions startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.northladder.com\/ae-en\/\" style=\"\" rel=\"noopener\">NorthLadder<\/a><\/strong>, with participation from <a target=\"_blank\" href=\"https:\/\/www.dutchfoundersfund.com\/\" style=\"\" rel=\"noopener\">Dutch Founders Fund<\/a> and <a target=\"_blank\" href=\"https:\/\/www.crescent-ventures.com\/\" style=\"\" rel=\"noopener\">Crescent Ventures<\/a>, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2197912\" style=\"\" rel=\"noopener\">SPA reported<\/a>. Information on the breakdown of each investor\u2019s contribution to the round, or on whether the investments are debt or equity-based was not disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meet NorthLadder: <\/strong>Co-founded in 2020 by Sandeep Shetty (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/sandeep-shetty-1314662\/\" style=\"\" rel=\"noopener\">Linkedin<\/a>) and Mihin Shah (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mihin-shah\/\" style=\"\" rel=\"noopener\">Linkedin<\/a>), NorthLadder leverages a proprietary auction engine to automate assessments and improve its device trade-in program that promotes sustainability goals and a circular economy. The company currently operates in more than 10 countries, as per its <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/northladder\/about\/\" style=\"\" rel=\"noopener\">LinkedIn account<\/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\">IN OTHER STARTUP NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.blab.com.sa\/\" style=\"\" rel=\"noopener\">Beta Lab Saudi<\/a><\/strong><strong> launched a USD 300 mn fund to support startups in MENA and Southeast<\/strong><strong> Asia<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/BetalabSA\/status\/1851534941978337745\" style=\"\" rel=\"noopener\">post on X<\/a>. The fund was launched with support from a host of local and global partners, including the Ministry of Investment, the Research, Development and Innovation Authority, <a target=\"_blank\" href=\"https:\/\/www.hkstp.org\/en\/\" style=\"\" rel=\"noopener\">HKTSP<\/a>, <a target=\"_blank\" href=\"https:\/\/www.telkom.co.id\/\" style=\"\" rel=\"noopener\">Telkom Indonesia<\/a> and its VC arm <a target=\"_blank\" href=\"https:\/\/mdi.vc\/\" style=\"\" rel=\"noopener\">MDI Ventures<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/northladder\/\">NorthLadder<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-telecom-company-stc\/\">Saudi Telecom Company (STC)<\/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\/tali-ventures\/\">Tali Ventures<\/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=\"91089\" 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=\"91089\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/more-3q-earnings-trickle-in\/\">\r\n                            More 3Q earnings trickle in                        <\/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\/10\/31\/more-3q-earnings-trickle-in\/\" 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\/10\/31\/more-3q-earnings-trickle-in\/')\">\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\/10\/31\/more-3q-earnings-trickle-in\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=More 3Q earnings trickle in&url=https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/more-3q-earnings-trickle-in\/\">\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\/10\/31\/more-3q-earnings-trickle-in\/&title=More 3Q earnings trickle in\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=More+3Q+earnings+trickle+in+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F10%2F31%2Fmore-3q-earnings-trickle-in%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\/10\/31\/more-3q-earnings-trickle-in\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1103.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91090\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/more-3q-earnings-trickle-in\/1103-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1103.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1103.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1103.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1103.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91089\" class=\"content-area-description single-story post-91089 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings tag-earnings tag-enterpriseam-ksa tag-marafiq tag-nahdi-medical tag-saudia-dairy-and-foodstuff-sadafco wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.fdf6e6e5-8d14-446b-bfa7-141263d11b46.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">NAHDI MEDICAL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nahdi Medical saw its net income drop 14.4% y-o-y to SAR 182.2 mn in 3Q 2024<\/strong> on the back of an increase in operating expenses attributed to expansions, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83212&anCat=1&cs=4164&locale=en\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. Meanwhile, revenues rose 8.8% y-o-y at SAR 2.4 bn due to strong performance in the retail, healthcare, and UAE segments, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2725.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis:<\/strong> The company\u2019s net income narrowed 8.2% y-o-y at SAR 662.9 mn during the first nine months of the year. Revenues were up 9% over the same period, with the growth attributed to better performance in the pharma segment on the back of increased prescription flows, more partnerships with medical ins. providers, and the launch of new products, the earnings release explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SADAFCO-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudia Dairy and Foodstuff\u2019s net income increased 21.5% y-o-y at SAR 137.1 mn in 3Q <\/strong><strong>2024<\/strong>, on the back of double digit growth in export and other segments, among other factors, the firm said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83231&anCat=1&cs=2270&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Revenues increased 6.1% during the period at SAR 789.6 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis:<\/strong> The dairy player\u2019s bottom line grew 26.1% y-o-y at SAR 391.1 mn during the first nine months of the year, while revenues saw a 6.6% bump at SAR 2.2 bn. <\/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\">MARAFIQ-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Power and Water Utility Company for Jubail and Yanbu (Marafiq) saw its net income <\/strong><strong>inch down 1.1% y-o-y at SAR 186 mn in 3Q 2024<\/strong>, with the company attributing the decline to rising fuel costs and a drop in finance income that were partly offset by greater sales, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83226&anCat=1&cs=2083&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Meanwhile, revenues were up 9.2% at SAR 1.9 bn on the back of greater sales volumes across all segments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis:<\/strong>Marafiq reported a 35.2% y-o-y decrease in bottomline at SAR 294.1 mn through the first nine months of the year, while top line grew 8.6% during the period at SAR 5.2 bn. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings\/\">Earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/marafiq\/\">Marafiq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nahdi-medical\/\">Nahdi Medical<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudia-dairy-and-foodstuff-sadafco\/\">Saudia Dairy and Foodstuff (Sadafco)<\/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=\"91091\" 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=\"91091\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/al-fakhera-mens-tailoring-discloses-four-lawsuits-against-ceo\/\">\r\n                            Al Fakhera Men\u2019s Tailoring discloses four lawsuits against CEO                        <\/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\/10\/31\/al-fakhera-mens-tailoring-discloses-four-lawsuits-against-ceo\/\" target=\"_blank\">\n                    Open in new tab                   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target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Al Fakhera Men\u2019s Tailoring discloses four lawsuits against CEO&url=https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/al-fakhera-mens-tailoring-discloses-four-lawsuits-against-ceo\/\">\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\/10\/31\/al-fakhera-mens-tailoring-discloses-four-lawsuits-against-ceo\/&title=Al Fakhera Men\u2019s Tailoring discloses four lawsuits against CEO\">\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=Al+Fakhera+Men%E2%80%99s+Tailoring+discloses+four+lawsuits+against+CEO+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F10%2F31%2Fal-fakhera-mens-tailoring-discloses-four-lawsuits-against-ceo%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\/10\/31\/al-fakhera-mens-tailoring-discloses-four-lawsuits-against-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2818.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91092\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/al-fakhera-mens-tailoring-discloses-four-lawsuits-against-ceo\/2818-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2818.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2818.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2818.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2818.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91091\" class=\"content-area-description single-story post-91091 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-cathay-pacific tag-enterpriseam-ksa tag-king-abdulaziz-port tag-nofoth-food-products tag-saudi-global-ports-sgp tag-saudi-ports-authority-mawani wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.a82fa23e-d177-4fdb-983d-501f4ebd7e47.mp3\"><\/audio><\/figure><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>Al Fakhera Men\u2019s Tailoring <\/strong><strong>CEO Sulaiman bin Hamad Al Yahya<\/strong><strong> is currently facing four <\/strong><strong>lawsuits<\/strong>, the company disclosed in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/913.pdf\" style=\"\" rel=\"noopener\">its prospectus (pdf)<\/a> \u0650for its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2a978fa2-e0ce-46f7-bf68-8d43951d3736\/al-fakhera-to-ipo-20%2525-stake-on-nomu\" style=\"\" rel=\"noopener\">upcoming IPO<\/a> on Tadawul\u2019s parallel market Nomu next week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> One case filed in Riyadh\u2019s Commercial Court against him seeks to claim 58% of his ownership in the company, which could lead to changes in the company\u2019s board, management, and ownership structure. There are also three other lawsuits against him that could lead to a SAR 365k financial impact on the company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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>Saudi Gold Refinery secured multiple agreements with Chinese mining firms at China\u2019s <\/strong><strong>Tianjin Mining <\/strong><strong>Conference<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/new-ceo-jonathan-d-cordero-and-chairman-suliman-alothaim-lead-saudi-gold-refinery-to-secure-key-deals-in-china-iw2gdo33\" style=\"\" rel=\"noopener\">a press release<\/a>. Saudi Gold Refinery sealed a technical feasibility study and an EPC contract with Zenith Minerals Company to expedite gold production in the Kingdom from the time of its discovery by up to 70%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What else?<\/strong> Saudi Gold Refinery also signed an agreement with Sandioss New Materials to introduce eco-friendly chemical reagents to the Saudi gold refining industry, as well as a framework agreement with CNNC - Geological Science and Technology Company to establish exploration and education centers in Saudi Arabia to attract local talent. The company inked a pre-feasibility contract with the Beijing Research Institute of Geology (BRIUG) to implement the latest geological research to accelerate mineral exploration in the Kingdom\u2019s Gunthar region. No timeline or investment tickets were disclosed for the agreements.<\/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\">MEDIA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TikTok<\/strong><strong> to train local journalists <\/strong><strong>on using the app: <\/strong>TikTok and the Saudi Research and Media Group Academy are partnering to train local journalists, especially tech journalists, on how to effectively use the app to reach wider audiences, TikTok CEO Xu Ziqiu said in a panel discussion at the FII conference (<a target=\"_blank\" href=\"https:\/\/x.com\/aleqtisadiah\/status\/1851344348480463273\" style=\"\" rel=\"noopener\">watch, runtime: 0:21<\/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\">DECARBONIZATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>King Abdulaziz Port in Dammam now boasts the largest fleet of electric trucks in the <\/strong><strong>Middle East<\/strong>, after receiving 80 electric trucks under SAR 7 bn agreements between the Saudi Ports Authority (Mawani) and <a target=\"_blank\" href=\"https:\/\/www.saudiglobalports.com.sa\/\" style=\"\" rel=\"noopener\">Saudi Global Ports (SGP)<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=27011024\" style=\"\" rel=\"noopener\">statement<\/a> from Mawani. SGP procured the trucks from the Chinese heavy equipment manufacturer <a target=\"_blank\" href=\"https:\/\/www.sanyglobal.com\/\" style=\"\" rel=\"noopener\">Sany<\/a> under a contract they signed in June.<\/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>PIF real estate arm Roshn plans to tap international banks to finance its local projects<\/strong>, PR Manager Alex Maalof told <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/10\/30\/article_2752173.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> at the FII Forum in Riyadh. The company plans to diversify its financing portfolio after securing SAR 9 bn earlier this 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\">RETAIL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cenomi Centers is adding 10 new retail brands to the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/centers.cenomi.com\/malls\/u-walk-riyadh\/\" style=\"\" rel=\"noopener\">U Walk Mall<\/a><\/strong><strong> in <\/strong><strong>Riyadh<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/cenomi-centers-announces-10-new-major-brands-at-u-walk-riyadh-w1sulkbp\" style=\"\" rel=\"noopener\">a press release<\/a>. The brands are Nike, Nespresso, Adidas, Dry Bar, Massimo Dutti, Pull&Bear, Under Armour, Al Nassr Club, Lenskart, and Jack Morgan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Cenomi is awaiting approval for a new multi-story car park<\/strong>, which will increase U Walk\u2019s total parking capacity to 2k vehicles, the release read.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Al Nassr opened its flagship store at U Walk Riyadh in partnership with Cenomi Centers <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/0a32bfde-62e4-4f0e-afb2-36fa94b6ff5b\" style=\"\" rel=\"noopener\">earlier this week<\/a>. The store sells official club merchandise and features a cafe.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cathay-pacific\/\">Cathay Pacific<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/king-abdulaziz-port\/\">King Abdulaziz Port<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nofoth-food-products\/\">Nofoth Food Products<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-global-ports-sgp\/\">Saudi Global Ports (SGP)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-ports-authority-mawani\/\">Saudi Ports Authority (Mawani)<\/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=\"91093\" 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=\"91093\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/google-reports-bumper-3q-earnings\/\">\r\n                            Google reports bumper 3Q earnings as cloud services soar                        <\/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\/10\/31\/google-reports-bumper-3q-earnings\/\" 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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Earnings per share increased 37% at USD 2.12. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the boost:<\/strong> The better-than-expected results suggest that the tech giant\u2019s expensive investments in AI are \u201cpaying off with consumers and partners benefiting from our AI tools,\u201d CEO Sundar Pichai said in the release. This return on investment is particularly evident in the company\u2019s 35% growth in cloud service sales to USD 11.4 bn and a ramp up in the numbers of users landing at the company\u2019s market-leading search engine, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-29\/alphabet-beats-quarterly-sales-estimates-on-google-cloud-growth?srnd=ai-stocks-to-watch\" style=\"\" rel=\"noopener\">Bloomberg<\/a> says. Investors had earlier raised concerns that Google was losing ground on AI to rivals Microsoft and OpenAI and that massive investments to close the gap may fail to bear fruit. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the DoJ may ruin the party, yet:<\/strong> The US Department of Justice (DoJ) said in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e3d03d0e-9fc6-411a-b265-71b4e780d0d8\/google-faces-prospect-of-restructuring-following-antitrust-case\" style=\"\" rel=\"noopener\">32-page<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e3d03d0e-9fc6-411a-b265-71b4e780d0d8\/google-faces-prospect-of-restructuring-following-antitrust-case\" style=\"\" rel=\"noopener\">court filing earlier this month<\/a> that it was weighing measures that could see Google forced to spin off key divisions, share data, and open access to some platforms following a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/us-judge-rules-google-broke-antitrust-law-search-case-2024-08-05\/\" style=\"\" rel=\"noopener\">landmark court decision in August<\/a> which ruled that the company was in violation of US antitrust laws. The tech behemoth is also facing legal challenges over its ads business. Alphabet CEO Sundar Pichai was critical of the DoJ\u2019s legal campaign, warning on a conference call with investors that the measures could have \u201cunintended consequences\u201d for US leadership in the tech sphere, Bloomberg said. <\/p>\n<p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Most Asian markets are in the red ahead of Bank of Japan\u2019s interest rate decision later today<\/strong>, with only mainland China\u2019s Shanghai Index up in trading. Over on <strong>Wall Street<\/strong>, futures are also slipping after Microsoft and Meta reported their earnings, dragging down their share prices in after hours trading. <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,019<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +0.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,511<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -2.5%)<\/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>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,869<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +9.5%)<\/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\">5.5% 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\">5.0% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,371<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +22.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,328<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: -2.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,605<\/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: +13.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,814<\/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: +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>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\">8,160<\/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: +5.5%)<\/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\">4,886<\/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\">-1.3% (YTD: +8.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 73.05<\/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\">+2.7%<\/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>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 2.85<\/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 2,801<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7%<\/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 72,515<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +72.2%)<\/p>\n<\/td>\n<\/tr>\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>fell 0.4% <strong>yesterday <\/strong>on turnover of SAR 6 bn. The index is up 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> Atheeb Telecom (+6.2%), Red Sea (+5.0%) and MBC Group (+4.6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Sieco (-7.1%), Nahdi (-3.9%) and Al Baha (-3.9%).<\/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> rose 0.9% <strong>yesterday <\/strong>on turnover of SAR 43.2 mn. The index is up 9.5% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Naseej Tech (+11.3%), Al Rashid Industrial (+10.40%) and Al Wasail Industrial (+10.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Sama Water (-9.8%), Al Babtain Food (-8.7%) and Edarat (-6.1%)<\/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\/google\/\">Google<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91095\" 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=\"91095\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/31\/saudi-condemns-israeli-knessets-decision-to-ban-unrwa-in-palestine\/\">\r\n                            Saudi condemns Israeli Knesset\u2019s decision to ban UNRWA in Palestine                        <\/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\/10\/31\/saudi-condemns-israeli-knessets-decision-to-ban-unrwa-in-palestine\/\" 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 Foreign Ministry described the move as a violation of international laws and UN mandates, while asserting its support for UNRWA\u2019s mission to support Palestinian refugees.<\/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\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/united-nations-un\/\">United Nations (UN)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/unrwa\/\">UNRWA<\/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=\"91097\" 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\/10\/31\/91097\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91097\" class=\"content-area-description single-story post-91097 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\">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>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>29 October-2 November (Tuesday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/jimsexpo.com\/\" style=\"\">Jeddah International Motor Show<\/a><\/span><span style=\"font-weight:400;\">, Superdome, 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;\">30 October (Wednesday): Global Coalition for the Two-State Solution high level meeting, 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 November (Saturday): WWE Crown Jewel, 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;\">3 November (Sunday): WWE Raw, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-4 November (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/roadsafety.irf.global\/\" style=\"\">Road Safety & Sustainability Conference: Innovating for Tomorrow<\/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;\">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>5-9 November (Tuesday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bibanglobal.sa\/en\" style=\"\">Biban24 Forum<\/a><\/span><span style=\"font-weight:400;\">, The Front Exhibition and Conference Center, 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:\/\/cityscapeglobal.com\/?utm_source=google&utm_medium=paid-search&utm_campaign=aec24sau-jh-google-prospecting&gad_source=1&gclid=Cj0KCQjw05i4BhDiARIsAB_2wfDfBbmOYXOHRTsyHdX9gTKIvzl_Sr560b_AP9JPewie42f2OQFFbIMaAi8zEALw_wcB\" style=\"\">Cityscape Global<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Exhibition and Convention Center. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-22 November (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wipo.int\/diplomatic-conferences\/en\/design-law\/practical-information.html\" style=\"\">The Diplomatic Conference to Conclude and Adopt a Design Law Treaty<\/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;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>11-13 November (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/informaconnect.com\/saudi-intermobility-expo\/\" style=\"\">Saudi Intermobility Expo 2024<\/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>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;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-21 November (Wednesday-Thursday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.terrapinn.com\/template\/live\/add2diary.aspx?e=10826\" style=\"\">Saudi Rail Conference and Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention and Exhibition 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>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 style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29 November-2 December 2024 (Sunday-Wednesday): World Sailing <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sailing.org\/2024\/05\/23\/jeddah-yacht-club-marina-to-host-2024-world-sailing-youth-match-racing-championships-and-womens-match-racing-world-championships\/\" style=\"\">Youth Match Racing World Championship<\/a><\/span><span style=\"font-weight:400;\">, Jeddah Yacht Club and Marina.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1 December (Sunday): <\/span><span>Opec+<\/span><span style=\"font-weight:400;\"> to meet. <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>2-3 December (Monday-Tuesday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iata.org\/en\/events\/all\/wings-of-change-middle-east\/\" style=\"\">Wings of Change Middle East<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>3-5 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/ibex-events-unveils-the-inaugural-future-stadiums-and-arenas-summit-and-expo-ev8nxkwb\" style=\"\">The International Business Exchange \u2013 IBEX EVENTS<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>4-5 December (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1294.aspx\" style=\"\">Zakat, Tax and Customs 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>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;\">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>4-5 February (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.prnewswire.com\/news-releases\/rlc-global-forum-debuts-in-riyadh-shaping-the-future-of-global-retail-302264227.html\" style=\"\">The RLC Global 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 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>19-21 February (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudimf.sa\/en\" style=\"\">Saudi Media 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 style=\"font-weight:400;\">22 February (Saturday): Founding Day.<\/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;\">MARCH 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;\">31 March- 3 April (Monday-Thursday): Eid al-Fitr.<\/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;\">MAY 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;\">31 May-5 June (Saturday-Thursday): Hajj.<\/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;\">6-9 June ( Friday-Monday): Eid al-Adha.<\/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;\">SEPTEMBER 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;\">23 September (Tuesday): Saudi National Day.  <\/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:400;\">26-29 October (Monday-Thursday): World Energy Congress, 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\">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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The Ocean Race<\/span><span style=\"font-weight:400;\"> finishes in Amaala on the Red Sea.<\/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>Avalanche of agreements on FII day two | Acwa\u2019s USD 1.8 bn financing, renewables agreements | Riyadh Air orders more Airbus aircraft<\/p>\n","protected":false},"featured_media":91073,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-91072","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"2fe40ac3-3278-4c35-a551-febae112be33","teaser":"Avalanche of agreements on FII day two | Acwa\u2019s USD 1.8 bn financing, renewables agreements | Riyadh Air orders more Airbus aircraft","photo_url":"https:\/\/ent.news\/2024\/7\/1226.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>PIF backs USD 2 bn Middle East-focused PE fund - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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