{"id":91120,"date":"2024-11-03T00:00:00","date_gmt":"2024-11-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=91120"},"modified":"2025-12-14T19:24:51","modified_gmt":"2025-12-14T19:24:51","slug":"saudi-economy-expands-in-3q-2024","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/saudi-economy-expands-in-3q-2024\/","title":{"rendered":"Saudi economy expands in 3Q 2024"},"content":{"rendered":"<section id=\"91122\" 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=\"91122\">\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\/11\/03\/wta-finals-kick-off-in-riyadh\/\">\r\n                            THIS MORNING: WTA Finals kick off in Riyadh                        <\/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\/11\/03\/wta-finals-kick-off-in-riyadh\/\" 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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Let\u2019s jump right in. <\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- The WTA Finals are on their second day in Riyadh today and continue until next <\/strong><strong>Saturday.<\/strong> Day one saw world no.1 Aryna Sabalenka beating China\u2019s Zheng Qinwen 6-3, 6-4, and Italy\u2019s Jasmine Paolini beating Kazakhstan\u2019s Elena Rybakina 7-6, 6-4. Poland\u2019s Iga Swiatek and Czech Barbora Krej\u010d\u00edkov\u00e1 will face off at 2:30pm, while Coco Gauff and Jessica Pegula will go head-to-head in an all-American match at 5pm. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- 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> kicks off today<\/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\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Riyadh <\/strong>is looking at a high of 31\u00b0C and a low of 20\u00b0C today. Over in <strong>Jeddah<\/strong>, the temperature will peak at 33\u00b0C and hit a low of 28\u00b0C amid moderate rainfall. <strong>Madinah <\/strong>will see heavy rainfall and thunderstorms, with a high of 32\u00b0C and a low of 22\u00b0C<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1-<\/strong> <strong>The next round of e-invoicing: <\/strong>Companies with more than SAR 2.5 mn in revenues subject to VAT in 2022 or 2023 will have to integrate their e-invoicing solutions with Zatca\u2019s <a target=\"_blank\" href=\"https:\/\/fatooraonline.com\/\" style=\"\" rel=\"noopener\">Fatoora<\/a> platform before 31 July, 2025, Zatca said in a <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/ar\/MediaCenter\/News\/Pages\/news_1300.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. This is the latest phase of an e-invoicing rollout that began in late 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Kingdom is cracking down on counterfeit products: <\/strong>Traders attempting to sell counterfeit brands will be subject to a fine of up to SAR 1 mn and\/or up to one year in jail, the Public Prosecution <a target=\"_blank\" href=\"https:\/\/x.com\/ppgovsa\/status\/1850961560212025814\" style=\"\" rel=\"noopener\">said on X<\/a>.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- BlackRock secured approval to establish its regional headquarters in Riyadh<\/strong>, a move which is expected to ramp up the company\u2019s operations in the Middle East, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-31\/blackrock-gets-nod-from-saudi-arabia-for-regional-hq-in-riyadh\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing a statement. The world\u2019s largest asset manager\u2019s Saudi arm, BlackRock Saudi Arabia, was launched and authorized by the Capital Market Authority in 2018.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Saudi Arabia\u2019s Vision 2030 still requires an estimated USD 3 tn to fully materialize<\/strong>, Capital Market Authority Chairman Mohammed Al Quwaiz said, according to <a target=\"_blank\" href=\"https:\/\/aawsat.com\/%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\/5076707-%D8%A7%D9%84%D9%82%D9%88%D9%8A%D8%B2-3-%D8%AA%D8%B1%D9%8A%D9%84%D9%8A%D9%88%D9%86%D8%A7%D8%AA-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%AA%D9%82%D8%AF%D9%8A%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%A7%D9%84%D9%85%D8%B7%D9%84%D9%88%D8%A8%D8%A9-%D8%A8%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AD%D8%AA%D9%89-2030\" style=\"\" rel=\"noopener\">Asharq Al Awsat<\/a>. Al Quwaiz highlighted the critical need to attract capital from both public and private sources, forecasting that the next major wave of private market growth will be driven by both local and international savings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3- Renewables giant Acwa Power could invest up to USD 5 bn in Vietnam<\/strong>, Vietnamese news agencies quote an unnamed Acwa executive as saying (<a target=\"_blank\" href=\"https:\/\/theinvestor.vn\/saudi-arabian-energy-giant-acwa-power-ready-to-invest-5-bln-in-vietnam-d13122.html\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/vietnamnet.vn\/en\/saudi-s-acwa-power-eyes-5-billion-investment-in-vietnam-s-renewable-energy-2337269.html\" style=\"\" rel=\"noopener\">here<\/a>). The executive made the statement during a meeting in Riyadh between Investment Minister Khalid bin Abdulaziz Al Falih, Saudi business representatives, and Vietnamese Prime Minister Pham Minh Chinh. No details were provided on the specific sectors or timeline for the potential investments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi-Vietnamese MoU signed to boost cross-border investment, trade: <\/strong>Economy and Planning Minister Faisal Alibrahim and Vietnamese Industry and Trade Minister Nguyen Hong Dien signed an MoU to facilitate investment and trade between both countries by organizing joint conferences, seminars, exhibitions, and meetings, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2198498\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reports. The agreement will also support the formation of joint ventures and economic partnerships and encourage the involvement of SMEs.<\/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>Investment licenses increased 50% y-o-y in 1H 2024, with 184 global firms establishing <\/strong><strong>regional HQs in the Kingdom during the period, <\/strong><a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/10\/31\/article_2752238.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> quotes Economy and Planning Minister Faisal Al Ibrahim as saying at the Future Investment Initiative forum.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>The Investment Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ea345cbb-a7f5-4009-9a1a-1041a78c1bff\/faisal-bin-farhan,-faisal-ibrahim-call-for-de-escalation-%2B-immediate-ceasefire-as%253cmark%253e-regional%253c%2Fmark%253e-conflict-grows\" style=\"\" rel=\"noopener\">raised the bar<\/a> for the targeted number of international firms <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/38b098bf-b85e-4e3a-9248-233901e3bd1f\/pif-joins-the-push-to-have-wall-street-firms-declare-riyadh-their-regional-hq\" style=\"\" rel=\"noopener\">relocating their regional headquarters]<\/a> to Saudi after surpassing the program\u2019s 2030 objective, with a total tally of 517 international firms issued licenses for Saudi-based regional headquarters by 1H 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>OPEC's oil production <\/strong><strong>rose by 370k<\/strong><strong> barrels a day<\/strong><strong> (bbl \/ d) in October to reach 29.9 mn bbl<\/strong><strong> \/ d<\/strong> <strong>despite lower output from Saudi Arabia, Iraq, and Iran<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-01\/opec-s-oil-output-recovers-after-libya-resolves-political-crisis\" style=\"\" rel=\"noopener\">Bloomberg<\/a> survey. The output rise came as output from Libya picked up following a temporary shutdown due to conflicts with the Tripoli-based government over control of the central bank. Libya added 500k bbl \/ d after the oil fields went live again, reaching a total of 1.03 mn bbl \/ d.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Opec+ <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ea345cbb-a7f5-4009-9a1a-1041a78c1bff\/faisal-bin-farhan,-faisal-ibrahim-call-for-de-escalation-%2B-immediate-ceasefire-as-regional-conflict-grows\" style=\"\" rel=\"noopener\">decided last month<\/a> to stay the course on its planned oil production target, including plans to phase out supply cuts by December, putting it on course for a 180k bpd hike by the end of the year. The group is scheduled to convene on 1 December to decide whether to hold production steady or adjust according to market conditions.<\/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>There are two stories vying for your attention this morning in the international press<\/strong>, including the latest from the US presidential elections as early voting gets underway and Berkshire Hathaway\u2019s latest earnings. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Kamala Harris is three percentage points ahead of Donald Trump among likely US <\/strong><strong>voters in Iowa<\/strong>, a traditionally Republican-leaning state where Trump secured an eight-point victory over incumbent Joe Biden in 2020. Trump had also secured Iowa\u2019s vote in the 2016 elections. The latest Des Moines Register\/Mediacom Iowa Poll released overnight indicates that women voters are driving the unexpected outcome, with 57% independent women voters likely to vote for Harris \u2014 compared to 29% in favor of Trump. Among all independent voters, Harris maintained a 13-point lead over Trump. (<a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/harris-trump-election-11-01-24\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7ccf5b1a-cb1c-4445-a9e8-6d193626c4b0\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us-election-2024-live-trump-harris-north-carolina-2024-11-02\/\" 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- Berkshire Hathaway\u2019s cashpile has grown to USD 325.5 bn<\/strong>, after the conglomerate moved to sell off its holdings in Apple down to USD 69.95 bn in 3Q 2024 \u2014 equivalent to around one-quarter of its shares in the company, according to Berkshire\u2019s <a target=\"_blank\" href=\"https:\/\/www.berkshirehathaway.com\/qtrly\/3rdqtr24.pdf\" style=\"\" rel=\"noopener\">3Q 2024 earnings report (pdf)<\/a>. The selldown of its Apple position \u2014 part of a USD 34.6 bn sale of shareholdings in the three months ending in September \u2014 also saw Warren Buffet\u2019s firm selling some USD 36.1 bn of its position in Bank of America during the quarter. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-02\/berkshire-posts-6-profit-drop-as-insurance-underwriting-falls\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/61a7e376-5ad4-4d58-bbbb-1b443ab69591\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/berkshires-cash-sets-record-buffett-sells-apple-bofa-operating-profit-falls-2024-11-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/11\/02\/berkshire-hathaways-cash-fortress-tops-300-billion-as-buffett-sells-more-stock-freezes-buybacks.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\">\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.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<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:\/\/impaq.media.gov.sa\/\" style=\"\" rel=\"noopener\">Impact Makers Forum (ImpaQ)<\/a><\/strong><strong> is set to open its doors on 18 December<\/strong>, bringing together media influencers, industry experts, and digital content creators in Riyadh\u2019s Mayadeen Hall. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/blackrock\/\">BlackRock<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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\r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91125\" 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=\"91125\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/gdp-rebounds-after-four-month-rut\/\">\r\n                            Saudi GDP rises 2.8% in 3Q 2024, breaking a four-quarter downward slide                        <\/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 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<a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/gdp-rebounds-after-four-month-rut\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2181.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91126\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/gdp-rebounds-after-four-month-rut\/2181-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2181.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2181.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2181.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2181.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91125\" class=\"content-area-description single-story post-91125 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-ksa tag-gdp tag-general-authority-for-statistics-gastat tag-non-oil-economy 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\/11\/.3fcb551f-273e-40bd-bf28-bb3bfb74db62.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Kingdom\u2019s<\/strong><strong> real GDP grew 2.8% y-o-y 3Q 2024, breaking a four-quarter<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/95dc89e4-6e0d-4694-b1ab-c9cd0bf99aed\/saudi-gdp-shrinks-0.3%2525-in-2q-2024\" style=\"\" rel=\"noopener\">downward trend<\/a><\/strong>, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/21.pdf\" style=\"\" rel=\"noopener\">flash estimates (pdf)<\/a> by the General Authority of Statistics (Gastat). Final figures are slated for release on Sunday, 8 December, as per Gastat\u2019s <a target=\"_blank\" href=\"https:\/\/www.stats.gov.sa\/en\/future-releases\" style=\"\" rel=\"noopener\">website<\/a>. The story got ink from <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-arabias-q3-gdp-grows-estimated-28-yy-2024-10-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-31\/saudi-arabia-s-economy-picks-up-as-oil-supply-cuts-wear-off\" 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>Driving the growth: <\/strong>The rebound came on the back of a 4.2% y-o-y increase in non-oil activities, a 3.1% increase in government activity, and a 0.3% uptick in oil activities. Oil activity accounts for c. 40% of GDP and about 75% of government revenues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis: <\/strong>Seasonally adjusted real GDP grew 0.8% q-o-q, driven by a 1.3% increase in oil activities and a 0.5% increase in non-oil activities during the period. The quarterly growth was partly offset by a 0.3% decline in government activity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The recovery in Saudi\u2019s real GDP growth is attributed to growth in the non-oil sector<\/strong>, while oil cuts\u2019 effects taper off, Bloomberg said. Opec+ had initially planned to begin phasing out supply cuts <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ea345cbb-a7f5-4009-9a1a-1041a78c1bff\/faisal-bin-farhan,-faisal-ibrahim-call-for-de-escalation-%2B-immediate-ceasefire-as-regional-conflict-grows\" style=\"\" rel=\"noopener\">by December<\/a>, but weak markets may see that date <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8be3581a-d7d9-45fc-a1b9-6a4948f62468\/this-morning:-sab-invest-hang-seng-hong-kong-etf-hits-tadawul-today\" style=\"\" rel=\"noopener\">pushed forward<\/a>. Meanwhile, a lack of discipline with production caps in the global cartel could push Saudi Arabia and other Opec+ members to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ea345cbb-a7f5-4009-9a1a-1041a78c1bff\/this-morning:-faisal-bin-farhan,-faisal-ibrahim-call-for-de-escalation-%2B-immediate-ceasefire-as-regional-conflict-grows\" style=\"\" rel=\"noopener\">abandon oil cuts altogether<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Forecasts for economic growth in Saudi have trended down all year<\/strong>, with the Finance Ministry recently downgrading its yearly forecast to a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e65fed3e-05eb-40aa-92f4-ff2c2204bfec\/finmin-expects-growth-to-jump-to-4.6%2525-in-2025\" style=\"\" rel=\"noopener\">0.8% growth clip<\/a> after government officials initially penciled in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1dfc08e3-862b-4799-ad63-f7e3163627d7\/fitch-sees-rising-private-borrowing,-strong-year-ahead-for-non-oil-businesses-in-the-gulf#:~:text=REMEMBER%2D%20The%20government%20is%20positive%20on%20its%20non%2Doil%20GDP%2C\" style=\"\" rel=\"noopener\">4.5-5.0% growth<\/a> for the year in January. The World Bank also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6c7b50e3-505d-4cec-99bb-edc2bbe7119d\" style=\"\" rel=\"noopener\">slashed its estimate to 2.5%<\/a> in April \u2014 which it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/affbdcc3-297f-4bc8-b91a-6529d9a0471e\/%253cmark%253eworld-bank%253c%2Fmark%253e-maintains-saudi%25e2%2580%2599s-economic-growth-forecast-at-2.5%2525-in-2024\" style=\"\" rel=\"noopener\">maintained in June<\/a> \u2014 after citing a 4.1% figure earlier in the year. Meanwhile, the IMF cut back an earlier 4% estimate to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7d444a42-5759-4a7e-8680-6f4261ef0abc\/imf-trims-the-kingdom%25e2%2580%2599s-growth-outlook\" style=\"\" rel=\"noopener\">2.7% in January<\/a>, before slashing it again to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ade01bc1-2b8d-4dba-b4ed-405119b724c5\" style=\"\" rel=\"noopener\">2.6% in April<\/a>, and finally <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/38d7a9ac-18f0-41ad-a4e6-56c1b6ccce7f\" style=\"\" rel=\"noopener\">to 1.7% in July<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi\u2019s Vision 2030 is full steam ahead despite regional turbulence:<\/strong> Challenges in the geopolitical landscape are pushing the Kingdom to push \u201cmore steadfastly\u201d with diversification plans, Economy Minister Faisal Al Ibrahim told CNBC on the sidelines of FII (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/video\/2024\/10\/31\/saudis-pif-pivot-to-domestic-investment-will-help-diversification-minister.html?&qsearchterm=Saudi\" style=\"\" rel=\"noopener\">watch, runtime: 0:40<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/general-authority-for-statistics-gastat\/\">General Authority for Statistics (Gastat)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/non-oil-economy\/\">Non-oil economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91127\" 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=\"91127\">\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\">FUTURE INVESTMENT INITIATIVE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/pif-announces-new-usd-1-bn-fund-multiple-partnerships\/\">\r\n                            PIF announces new new USD 1 bn fund + multiple partnerships on final day of FII                        <\/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\/11\/03\/pif-announces-new-usd-1-bn-fund-multiple-partnerships\/\" 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\/11\/03\/pif-announces-new-usd-1-bn-fund-multiple-partnerships\/')\">\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\/11\/03\/pif-announces-new-usd-1-bn-fund-multiple-partnerships\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=PIF announces new USD 1 bn fund + multiple partnerships&url=https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/pif-announces-new-usd-1-bn-fund-multiple-partnerships\/\">\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\/11\/03\/pif-announces-new-usd-1-bn-fund-multiple-partnerships\/&title=PIF announces new USD 1 bn fund + multiple partnerships\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=PIF+announces+new+USD+1+bn+fund+%2B+multiple+partnerships+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F11%2F03%2Fpif-announces-new-usd-1-bn-fund-multiple-partnerships%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\/11\/03\/pif-announces-new-usd-1-bn-fund-multiple-partnerships\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/73.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91128\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/pif-announces-new-usd-1-bn-fund-multiple-partnerships\/73-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/73.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"73.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/73.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/73.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91127\" class=\"content-area-description single-story post-91127 post type-post status-publish format-standard has-post-thumbnail hentry category-future-investment-initiative tag-capital-markets tag-enterpriseam-ksa tag-future-investment-initiative tag-future-investment-initiative-fii tag-hong-kong-monetary-authority tag-investment tag-public-investment-fund-pif tag-vision-2030 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\/11\/.2da30970-016c-472d-9d83-a74d3168e98d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Public Investment Fund (PIF) and the Hong Kong Monetary Authority will establish a <\/strong><strong>USD 1 bn investment fund<\/strong>, after the two signed a landmark MoU on the final day of the Future Investment Initiative (FII) forum in Riyadh last week, according to a <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/press-releases\/2024\/pif-and-hong-kong-monetary-authority-sign-memorandum-of-understanding-for-investment-fund-at-fii8\/\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new fund is set to focus on manufacturing, renewables, fintech, and healthcare<\/strong>, with the goal of attracting companies from Hong Kong and the Greater Bay Area to set up operations in Saudi Arabia. In addition to supporting localization, the fund aims to boost foreign direct investment from Hong Kong by providing a platform for companies to expand internationally and tap into opportunities within the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The PIF is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f86b6c50-58ae-4b6a-bbe2-62fd4b6a41ec\/everything-you-need-to-know-from-day-one-of-fii-2024\" style=\"\" rel=\"noopener\">shifting its strategy<\/a> towards domestic investments, with plans to reduce overseas exposure from 30% to 18-20%, to support domestic diversification projects and encourage co-investment from foreign firms within the Kingdom. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/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\/hong-kong-monetary-authority\/\">Hong Kong Monetary Authority<\/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\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/vision-2030\/\">Vision 2030<\/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=\"91129\" 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=\"91129\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/pif-signs-usd-51-bn-worth-of-mous-with-japanese-banks\/\">\r\n                            PIF signs USD 51 bn-worth of MoUs with Japanese banks to fuel two-way capital flows                        <\/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\/11\/03\/pif-signs-usd-51-bn-worth-of-mous-with-japanese-banks\/\" 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\/11\/03\/pif-signs-usd-51-bn-worth-of-mous-with-japanese-banks\/')\">\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\/11\/03\/pif-signs-usd-51-bn-worth-of-mous-with-japanese-banks\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=PIF signs USD 51 bn-worth of MoUs with Japanese banks&url=https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/pif-signs-usd-51-bn-worth-of-mous-with-japanese-banks\/\">\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\/11\/03\/pif-signs-usd-51-bn-worth-of-mous-with-japanese-banks\/&title=PIF signs USD 51 bn-worth of MoUs with Japanese banks\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=PIF+signs+USD+51+bn-worth+of+MoUs+with+Japanese+banks+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F11%2F03%2Fpif-signs-usd-51-bn-worth-of-mous-with-japanese-banks%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\/11\/03\/pif-signs-usd-51-bn-worth-of-mous-with-japanese-banks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/71.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91130\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/pif-signs-usd-51-bn-worth-of-mous-with-japanese-banks\/71-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/71.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"71.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/71.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/71.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91129\" class=\"content-area-description single-story post-91129 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam-ksa tag-investment-watch tag-the-public-investment-fund-pif tag-trade 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\/11\/.d98efca0-4f4b-4b45-8459-aad03b4cecae.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Public Investment Fund (PIF) inked five MoUs valued at a combined USD 51 bn with major<\/strong> <strong>Japanese lenders<\/strong>, in a bid to fuel capital flows between the two countries through debt and equity, according to a PIF <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/press-releases\/2024\/pif-signs-memorandums-of-understanding-with-five-leading-japanese-financial-institutions\/\" 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>The<\/strong><strong> banks involved:<\/strong> Mizuho Bank, Sumitomo Mitsui Financial Group, MUFG Bank, Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Ins. (NEXI). The specifics of the agreements were not disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Priority sectors:<\/strong> \u201cThe MoUs are a key part of PIF\u2019s strategy to boost financial collaboration globally, enhancing cooperation in finance, investment and sustainable development.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the first time the PIF has looked to Asia this year: <\/strong>The sovereign wealth fund inked similar agreements with major Chinese banks <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/13a454a6-f67b-44bd-85f8-8819c0528fcf\/pif-inks-mous-worth-up-to-usd-50-bn-with-chinese-banks-to-ramp-up-capital-flows-between-riyadh,-beijing\" style=\"\" rel=\"noopener\">last August<\/a>, signing six MoUs worth up to USD 50 bn also intended for two-way capital flows and focused on the same sectors.<\/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 NEWS FROM PIF AND JAPAN-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Middle Eastern-focused Index fund for Japanese investors next year?<\/strong> PIF and Mizuho Financial Group plan to launch an index fund targeting Japanese institutional investors that want to invest in Middle East stocks by March 2025, Mizuho spokesman Naohiro Takahashi confirmed to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-31\/mizuho-to-launch-saudi-arabia-etf-with-sovereign-wealth-fund-pif\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The fund seeks to lure investors with higher returns in Saudi Arabia, with the Kingdom\u2019s current benchmark interest rate standing at 5.5% compared to Japan\u2019s 0.25%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Mizuho is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/20b26f21-6d1f-4729-948e-3f7806738e84\" style=\"\" rel=\"noopener\">reportedly<\/a> looking to open its regional headquarters in the Kingdom after receiving a license from the Investment Ministry. The firm has participated in debt capital market transactions for clients including PIF, the Finance Ministry, and Aramco, among others. It has had an investment banking license in Riyadh since 2009.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/the-public-investment-fund-pif\/\">The Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91131\" 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=\"91131\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/salic-eyes-bigger-stake-in-olam-agri\/\">\r\n                            Salic eyes bigger stake in Olam Agri                        <\/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\/11\/03\/salic-eyes-bigger-stake-in-olam-agri\/\" 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\/11\/03\/salic-eyes-bigger-stake-in-olam-agri\/')\">\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\/11\/03\/salic-eyes-bigger-stake-in-olam-agri\/\">\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=Salic eyes bigger stake in Olam Agri&url=https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/salic-eyes-bigger-stake-in-olam-agri\/\">\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\/11\/03\/salic-eyes-bigger-stake-in-olam-agri\/&title=Salic eyes bigger stake in Olam Agri\">\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=Salic+eyes+bigger+stake+in+Olam+Agri+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F11%2F03%2Fsalic-eyes-bigger-stake-in-olam-agri%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\/11\/03\/salic-eyes-bigger-stake-in-olam-agri\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/172.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91132\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/salic-eyes-bigger-stake-in-olam-agri\/172-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/172.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"172.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/172.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/172.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91131\" class=\"content-area-description single-story post-91131 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-ma-watch tag-saudi-agricultural-and-livestock-investment-company-salic 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\/2025\/1\/.e09a3d8e-0c90-4cb5-89fc-a7f0976c9bda.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">PIF-backed Salic wants a bigger piece of Olam-Agri Holdings<\/strong><strong style=\"background-color: transparent;\">:<\/strong><span style=\"background-color: transparent;\"> Saudi Agricultural and Livestock Investment Co. (Salic) has made a non-binding offer to acquire its remaining stake in Singapore-based Olam Group\u2019s agribusiness unit, Olam Agri Holdings, Olam said in <\/span><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/14.pdf\" rel=\"noopener\">a bourse filing (pdf)<\/a><span style=\"background-color: transparent;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The transaction could value Olam Agri at USD 4 bn, <\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-31\/saudi-arabia-said-to-near-deal-to-take-over-4-billion-olam-unit\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported, adding that negotiations are in an advanced stage. Olam said it is currently evaluating the offer, but noted that the bid could fall through as no binding terms or agreements have been reached.<\/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>BACKGROUND- <\/strong>Salic acquired a 35.43% stake in Olam Agri <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/olam-group-completes-124-bln-stake-sale-agri-unit-saudi-firm-2022-12-23\/\" style=\"\" rel=\"noopener\">in 2022<\/a> in a transaction worth USD 1.24 bn, reducing Olam Group\u2019s holding to 64.57%. In August 2023, Olam announced plans to pursue a dual listing in Singapore and Saudi Arabia by 1H 2024, though the timeline has been delayed due to \u201cregulatory bottlenecks,\u201d according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/singapores-olam-receives-offer-saudi-firm-stake-agri-unit-2024-11-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Olam\u2019s filing said it will \u201cconcurrently explore other strategic options\u201d for its agribusiness listing.<\/p>\n<p class=\"tag-border-left\">IN OTHER M&amp;A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BinDawood Holding is acquiring Zahrat Al Rawdah Pharmacies<\/strong>, a wholly-owned subsidiary of UAE-based Gulf Pharma Industries\u2019 (Julphar) retail and distribution arm, Julphar said in <a target=\"_blank\" href=\"https:\/\/www.julphar.net\/en\/gulf-pharmaceutical-industries-julphar-announces-divestment-of-zahrat-al-rawdah-pharmacies-llc\" style=\"\" rel=\"noopener\">a statement<\/a>. The agreement is slated for completion in 1Q 2025 and is subject to regulatory approvals, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1765279\" style=\"\" rel=\"noopener\">Argaam<\/a> reported. Julphar\u2019s subsidiary currently operates 173 Zahrat Al Rawdah pharmacies in the Kingdom.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-agricultural-and-livestock-investment-company-salic\/\">Saudi Agricultural and Livestock Investment Company (Salic)<\/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=\"91133\" 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=\"91133\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/red-sea-global-secures-usd-1-5-bn-for-utility-project\/\">\r\n                            Red Sea Global secures USD 1.5 bn for utility project with EDF-Masdar led consortium                        <\/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\/11\/03\/red-sea-global-secures-usd-1-5-bn-for-utility-project\/\" 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\/11\/03\/red-sea-global-secures-usd-1-5-bn-for-utility-project\/')\">\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\/11\/03\/red-sea-global-secures-usd-1-5-bn-for-utility-project\/\">\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=Red Sea Global secures USD 1.5 bn for utility project&url=https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/red-sea-global-secures-usd-1-5-bn-for-utility-project\/\">\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\/11\/03\/red-sea-global-secures-usd-1-5-bn-for-utility-project\/&title=Red Sea Global secures USD 1.5 bn for utility project\">\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=Red+Sea+Global+secures+USD+1.5+bn+for+utility+project+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F11%2F03%2Fred-sea-global-secures-usd-1-5-bn-for-utility-project%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\/11\/03\/red-sea-global-secures-usd-1-5-bn-for-utility-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/69.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91134\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/red-sea-global-secures-usd-1-5-bn-for-utility-project\/69-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/69.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"69.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/69.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/69.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91133\" class=\"content-area-description single-story post-91133 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-amaala tag-edf tag-energy tag-enterpriseam-ksa tag-masdar tag-red-sea-global 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\/11\/.e93a57dc-2ce0-43a3-88db-236468592088.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Red Sea Global (RSG) reached financial close on a USD 1.5 bn agreement<\/strong><strong> with <\/strong><strong>EDF and Masdar-led consortium<\/strong> to develop utility infrastructure at its Amaala wellness destination, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2199234\" style=\"\" rel=\"noopener\">state news agency (SPA)<\/a>. The project is expected to cut carbon emissions by c. 350k tons per year, it said. The consortium comprises France-based EDF Group and Abu Dhabi\u2019s Masdar, along with Korea East-West Power Company and Paris-based Suez 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\"><strong>The details:<\/strong> The facility will be operated off-grid and powered by a 250 MW solar plant and a 700 MWh battery system. It will also include transmission and distribution lines and a desalination plant producing 37 mn liters of drinking water daily. The facility will also have wastewater treatment facilities, it added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>First Abu Dhabi Bank, Emirates NBD, Riyad Bank, Saudi National Bank, and Alinma Bank, as well as other unnamed local and international financial institutions.<\/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\">ALSO FROM RED SEA GLOBAL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The PIF-owned developer plans to allocate another USD 27 by 2030 to accelerate its<\/strong><strong> developments<\/strong>, after it spent a similar amount to complete a third of its <a target=\"_blank\" href=\"https:\/\/www.redseaglobal.com\/en\/our-destinations\/the-red-sea\/\" style=\"\" rel=\"noopener\">Red Sea project<\/a>, CEO John Pagano told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-31\/luxury-red-sea-resort-firm-to-spend-another-27-billion-by-2030\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The Red Sea Project features 24 resorts, which are slated to be fully operational by the end of next year.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/amaala\/\">Amaala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/edf\/\">EDF<\/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\/masdar\/\">Masdar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/red-sea-global\/\">Red Sea Global<\/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=\"91135\" 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=\"91135\">\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\">LOGISTICS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/panattoni-gfh-partner-to-develop-logistics-facilities-worth-sar-2-bn\/\">\r\n                            Panattoni + GFH partner to develop premium logistics facilities worth SAR 2 bn in Riyadh, Jeddah, and Dammam                        <\/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\/11\/03\/panattoni-gfh-partner-to-develop-logistics-facilities-worth-sar-2-bn\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/x.com\/intent\/post?text=Panattoni + GFH partner to develop logistics facilities worth SAR 2 bn&url=https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/panattoni-gfh-partner-to-develop-logistics-facilities-worth-sar-2-bn\/\">\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\/11\/03\/panattoni-gfh-partner-to-develop-logistics-facilities-worth-sar-2-bn\/&title=Panattoni + GFH partner to develop logistics facilities worth SAR 2 bn\">\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=Panattoni+%2B+GFH+partner+to+develop+logistics+facilities+worth+SAR+2+bn+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F11%2F03%2Fpanattoni-gfh-partner-to-develop-logistics-facilities-worth-sar-2-bn%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\/11\/03\/panattoni-gfh-partner-to-develop-logistics-facilities-worth-sar-2-bn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/67.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91136\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/panattoni-gfh-partner-to-develop-logistics-facilities-worth-sar-2-bn\/67-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/67.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"67.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/67.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/67.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91135\" class=\"content-area-description single-story post-91135 post type-post status-publish format-standard has-post-thumbnail hentry category-logistics tag-enterpriseam-ksa tag-gfh-financial-group tag-gwc-logistics tag-logistics tag-panattoni 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\/11\/.bb235f26-aa10-4a3c-ae02-60c713c0c9cb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>New logistics facilities worth up to SAR 2 bn are coming to the Kingdom:<\/strong> European real estate developer <a target=\"_blank\" href=\"https:\/\/www.panattoni.com\/\" style=\"\" rel=\"noopener\">Panattoni<\/a> \u2019s Saudi arm has inked a partnership agreement with Bahrain\u2019s <a target=\"_blank\" href=\"https:\/\/gfh.com\/\" style=\"\" rel=\"noopener\">GFH Financial Group<\/a> to develop premium logistics facilities worth SAR 2 bn (USD 500 mn) in Riyadh, Jeddah, and Dammam over a five-year timeframe, <a target=\"_blank\" href=\"https:\/\/panattonieurope.com\/en\/newsroom\/panattoni-and-gfh-financial-group-launch-strategic-partnership\" style=\"\" rel=\"noopener\">Panattoni<\/a> and <a target=\"_blank\" href=\"https:\/\/gfh.com\/press-release\/gfh-financial-group-and-panattoni-launch-strategic-partnership-to-develop-500000-sqm-of-grade-a-logistics-facilities-across-key-saudi-arabian-hubs\/\" style=\"\" rel=\"noopener\">GFH<\/a> said in statements.<\/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>Breakdown: <\/strong>The SAR 2 bn (USD 500 mn) investment will be deployed over the coming five years to develop 500k sqm of logistics and industrial infrastructure at the sites mentioned. An initial SAR 375 mn (USD 100 mn) is earmarked for the first phase of the project, which will see the development of a 50k sqm logistics park adjacent to Al Kharj road in South Riyadh that is intended to support the increasing demand for logistics solutions in Riyadh.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Panattoni will be in charge of designing and building up facilities<\/strong>, while GFH will provide funding for the project and also oversee tenant sourcing and leasing activities. GFH has already secured a leasing agreement with Qatar-based <a target=\"_blank\" href=\"https:\/\/www.gwclogistics.com\/\" style=\"\" rel=\"noopener\">GWC Logistics<\/a> that will see the company lease up to 200k sqm across the project as an anchor tenant. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Panattoni first <a target=\"_blank\" href=\"https:\/\/panattonieurope.com\/en\/newsroom\/panattoni-expands-into-saudi-arabia\" style=\"\" rel=\"noopener\">kicked off operations<\/a> in Saudi last April, when it had also noted that its key focus would be on the three mentioned cities. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gfh-financial-group\/\">GFH Financial Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gwc-logistics\/\">GWC Logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/panattoni\/\">Panattoni<\/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=\"91137\" 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=\"91137\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/riyadh-air-secures-sar-5-bn-shariah-compliant-credit-facility\/\">\r\n                            Riyadh Air secures SAR 5 bn Shariah-compliant credit facility from local and GCC banks                        <\/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\/11\/03\/riyadh-air-secures-sar-5-bn-shariah-compliant-credit-facility\/\" 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\/11\/03\/riyadh-air-secures-sar-5-bn-shariah-compliant-credit-facility\/')\">\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\/11\/03\/riyadh-air-secures-sar-5-bn-shariah-compliant-credit-facility\/\">\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 secures SAR 5 bn Shariah-compliant credit facility&url=https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/riyadh-air-secures-sar-5-bn-shariah-compliant-credit-facility\/\">\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\/11\/03\/riyadh-air-secures-sar-5-bn-shariah-compliant-credit-facility\/&title=Riyadh Air secures SAR 5 bn Shariah-compliant credit facility\">\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+secures+SAR+5+bn+Shariah-compliant+credit+facility+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F11%2F03%2Friyadh-air-secures-sar-5-bn-shariah-compliant-credit-facility%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\/11\/03\/riyadh-air-secures-sar-5-bn-shariah-compliant-credit-facility\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/65.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91138\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/riyadh-air-secures-sar-5-bn-shariah-compliant-credit-facility\/65-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/65.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"65.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/65.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/65.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91137\" class=\"content-area-description single-story post-91137 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-aviation tag-debt tag-debt-watch tag-enterpriseam-ksa tag-public-investment-fund-pif 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\/11\/.f1c98df0-245f-4075-b946-74c9c20789b9.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>PIF-owned<\/strong><strong> Riyadh Air secured a one-year SAR 5 bn <\/strong><strong>Shariah-compliant<\/strong> <strong>revolving credit facility<\/strong> from a consortium of eight KSA and GCC-based banks, according to a <a target=\"_blank\" href=\"https:\/\/www.riyadhair.com\/en\/media-hub\/riyadh-air-secures-inaugural-sar-5-0-billion-revolving-credit-fa\" style=\"\" rel=\"noopener\">press release<\/a>. The agreement was signed on the sidelines of the Future Investment Initiative forum and is the carrier\u2019s first credit facility ahead of its planned start of operations next year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Breakdown:<\/strong> The agreement involves a SAR 3 bn revolving credit facility with a committed accordion option for an additional SAR 2 bn, the statement said. The funds will go towards acquiring new aircraft and covering short-term working capital requirements as Riyadh Air prepares to begin operations in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meet the banks:<\/strong> The participating banks are Arab National Bank, Al Rajhi Bank, Gulf International Bank, Emirates NBD, Riyad Bank, Banque Saudi Fransi, Saudi Awwal Bank, and Saudi National Bank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Riyadh Air <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cc99c6af-22bb-4009-8fd1-a45222058526\/%253cmark%253eriyadh%253c%2Fmark%253e%253cmark%253e-air%253c%2Fmark%253e-puts-in-usd-4-bn-order-for-60-a321neo-aircraft\" style=\"\" rel=\"noopener\">placed an order<\/a> with Airbus last week for 60 A321neo aircraft. The purchase is expected to set the company back some USD 4 bn, with deliveries expected between 2H 2026 and 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">IN OTHER DEBT NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi National Bank (SNB) is gearing up to issue SAR-denominated<\/strong><strong> Additional Tier 1 sukuk, <\/strong>it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83275&anCat=1&cs=1180&locale=en\" style=\"\" rel=\"noopener\">statement to Tadawul<\/a>. The issuance \u2014 the size and terms of which will be determined based on market conditions \u2014 is pending regulatory approval. SNB\u2019s board gave the green light for the initiative in May. The proceeds of the offering will go towards strengthening the bank\u2019s capital base<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>SNB Capital will be quarterbacking the potential offer as the sole bookrunner, lead arranger, and lead manager.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aviation\/\">AVIATION<\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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=\"91139\" 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=\"91139\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/bim-ventures-and-sbi-holding-unveil-jv-with-usd-2-bn-aum-target\/\">\r\n                            BIM Ventures and Japan\u2019s SBI Holding unveil JV with USD 2 bn AUM target                        <\/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\/11\/03\/bim-ventures-and-sbi-holding-unveil-jv-with-usd-2-bn-aum-target\/\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/63.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91140\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/bim-ventures-and-sbi-holding-unveil-jv-with-usd-2-bn-aum-target\/63-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/63.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"63.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/63.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/63.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91139\" class=\"content-area-description single-story post-91139 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-bim-ventures tag-enterpriseam-ksa tag-future-investment-initiative tag-startup-watch tag-vc-funding 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\/11\/.5ac5d27c-c0db-4b0a-8736-7e16b0a74386.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Riyadh-headquartered VC <\/strong><strong><a target=\"_blank\" href=\"https:\/\/bimventures.com\/\" style=\"\" rel=\"noopener\">BIM Ventures<\/a><\/strong><strong> and Japanese investor <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sbigroup.co.jp\/english\/\" style=\"\" rel=\"noopener\">SBI Holdings<\/a><\/strong><strong> launched a <\/strong><strong>new joint venture, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/bimcapital.sa\/ar\" style=\"\" rel=\"noopener\">BIM Capital<\/a><\/strong>, which will target investments in private equity, venture capital, debt funds, and real estate development in Saudi Arabia and the Middle East, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/10\/bim-ventures-unite-sbi-holding-launch-200-million-fund-bim-capital\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on the new fund:<\/strong> BIM Capital will focus on high growth sectors such as tech, emerging industries, and real estate, while exploring flexible financing options that include venture debt, private credit markets, and real estate development funds to support high-growth companies and projects while managing risks to secure high returns, the statement said.<\/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>Investment targets: <\/strong>The JV seeks to attract USD 200 mn (SAR 750 mn) in foreign direct investment (FDI), while targeting total assets under management (AUM) exceeding USD 2 bn (SAR 7.5 bn). <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/bim-ventures\/\">BIM ventures<\/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\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/vc-funding\/\">VC funding<\/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=\"91141\" 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=\"91141\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/more-earnings-roll-in-2\/\">\r\n                            More earnings roll 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\/11\/03\/more-earnings-roll-in-2\/\" 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  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       <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/more-earnings-roll-in-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/855.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91142\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/more-earnings-roll-in-2\/855-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/855.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"855.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/855.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/855.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91141\" class=\"content-area-description single-story post-91141 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-americana tag-bahri tag-earnings-watch tag-east-pipes-integrated-company tag-enterpriseam-ksa tag-jabal-omar tag-saudi-re 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\/11\/.70577238-86df-494a-9182-15290ff6a766.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\">AMERICANA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul and ADX-listed <\/strong><strong>Americana Restaurants\u2019 net income dropped 54.3% y-o-y to SAR 140.3 <\/strong><strong>mn in 3Q 2024<\/strong>, with the fall attributed to continued boycotts, depreciation, and the enactment of corporate taxes in the UAE, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83248&anCat=1&cs=6015&locale=en\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/32.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues also decreased 15.3% during the same period to SAR 2.1 bn on the back of boycotts and a slowdown in consumer demand. <\/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> Americana\u2019s net income fell 48.2% y-o-y to SAR 440.2 mn in the first nine months of the year while revenues were down 15.2% at SAR 6 bn.<\/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\">EAST PIPES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>East Pipes Integrated Company\u2019s net income increased 442.7% y-o-y to SAR 112.8 <\/strong><strong>mn in <\/strong><strong>2Q<\/strong> <strong>FY 2025<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83287&anCat=1&cs=1321&locale=en\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a> and an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/26.pdf\" style=\"\" rel=\"noopener\">earnings report (pdf)<\/a>. Revenues were up 134.6% to SAR 540.2 mn over the same period.<\/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\">JABAL OMAR DEVELOPMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jabal Omar Development posted a SAR 203.6 <\/strong><strong>mn<\/strong><strong> loss for 3Q 2024<\/strong>, down from net income of SAR 305.5 mn during the same quarter last year, on the back of rising depreciation, property impairments, provisions for credit losses, and increased financing costs, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83284&anCat=1&cs=4250&locale=en\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. Meanwhile, revenues increased 9.1% at SAR 256 mn due to the launch of two new hotels and an uptick in leasing activity at commercial malls.<\/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 reported SAR 151.3 mn in losses for the first nine months of the year, down from SAR 237.6 mn in net income in 9M 2023. Revenues were up 46.5% at SAR 1.5 bn during the nine-month period.<\/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\">NATIONAL SHIPPING COMPANY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The National Shipping Company of Saudi Arabia\u2019s (Bahri) net income increased 127%<\/strong><strong> y-o-y at SAR 509 mn in 3Q 2024<\/strong>, as fleet modernization and expansion drives boosted revenues and margins, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/13.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues rose 11% y-o-y to SAR 2.2 bn on the back of higher volumes due to increases in owned and chartered vessels as well as a surge in shipping rates. On a 9M basis, the company\u2019s bottom line grew 40% y-o-y at SAR 1.2 bn while revenues increased 8% at SAR 7.27 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Bahri has been doubling down on fleet modernization, inking a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ad3b934a-d23a-4277-b4ec-c9cabdf98bf5\/bahri-pushes-with-fleet-modernization-with-usd-1-bn-agreement-for-nine-oil-tankers\" style=\"\" rel=\"noopener\">USD 1 bn<\/a> agreement for nine oil tankers (VLCCs) in August that is supported by a USD 756 mn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f5d36bdf-4f38-465a-9324-e6e53f8021b5\/alinma-bank-extends%253cmark%253e-bahri%253c%2Fmark%253e-usd-756-mn-murabaha-financing-to-modernize-fleet\" style=\"\" rel=\"noopener\">Murabaha financing agreement<\/a> with Alinma Bank. The shipping giant is also looking to build a fleet of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a00e96ef-2f0f-4320-9302-3e97d520f5ae\/arabian-mills%25e2%2580%2599-retail-subscription-period-wraps-today\" style=\"\" rel=\"noopener\">20-30 LNG tankers<\/a>, CEO Ahmed Ali Al Subaey said in September. <\/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\">SAUDI RE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Re\u2019s net income grew 1,073% y-o-y to SAR 399.7 mn in 3Q 2024<\/strong>, largely on the back of a one off gain from the sale of a SAR 365.9 mn stake in Paribas Holding, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83258&anCat=1&cs=8200&locale=en\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. Revenues increased 64.7% y-o-y over the same period to SAR 341.5 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 company\u2019s net income increased 351.3% y-o-y to SAR 475 mn in the first nine months of the year, while revenues were up 66.8% y-o-y to SAR 824.2 mn, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/35.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The company saw strong underwriting performance in 9M, up 39% at SAR 140.7 mn.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/americana\/\">Americana<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/bahri\/\">Bahri<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/east-pipes-integrated-company\/\">East Pipes Integrated Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/jabal-omar\/\">Jabal Omar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-re\/\">Saudi Re<\/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=\"91143\" 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=\"91143\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/saudi-brazilian-venture-eyes-26-stake-in-addoha-poultry\/\">\r\n                            Saudi-Brazilian venture eyes 26% stake in Addoha Poultry                        <\/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\/11\/03\/saudi-brazilian-venture-eyes-26-stake-in-addoha-poultry\/\" 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\/11\/03\/saudi-brazilian-venture-eyes-26-stake-in-addoha-poultry\/')\">\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\/11\/03\/saudi-brazilian-venture-eyes-26-stake-in-addoha-poultry\/\">\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=Saudi-Brazilian venture eyes 26% stake in Addoha Poultry&url=https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/saudi-brazilian-venture-eyes-26-stake-in-addoha-poultry\/\">\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\/11\/03\/saudi-brazilian-venture-eyes-26-stake-in-addoha-poultry\/&title=Saudi-Brazilian venture eyes 26% stake in Addoha Poultry\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Saudi-Brazilian+venture+eyes+26%25+stake+in+Addoha+Poultry+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F11%2F03%2Fsaudi-brazilian-venture-eyes-26-stake-in-addoha-poultry%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\/11\/03\/saudi-brazilian-venture-eyes-26-stake-in-addoha-poultry\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/41.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91144\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/saudi-brazilian-venture-eyes-26-stake-in-addoha-poultry\/41-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/41.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"41.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/41.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/41.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91143\" class=\"content-area-description single-story post-91143 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-addoha-poultry tag-ades-holding tag-also-on-our-radar tag-enterpriseam-ksa tag-law-practice tag-mayar-holding tag-rikaz-real-estate tag-shenyang-yuanda-intellectual-industry-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.4fdffe65-7671-444a-b66b-7151721b6691.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\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi-Brazilian JV to acquire 26% of Addoha Poultry: <\/strong>BRF Arabia, a joint venture between Brazilian food processing company <a target=\"_blank\" href=\"https:\/\/www.brf-global.com\/en\/\" style=\"\" rel=\"noopener\">BRF SA<\/a> and PIF-owned Halal Products Development Company, agreed to acquire a 26% stake in <a target=\"_blank\" href=\"https:\/\/www.adpoultry.com\/\" style=\"\" rel=\"noopener\">Addoha Poultry<\/a>, one of the Kingdom\u2019s biggest chicken suppliers, for SAR 316.2 mn (USD 84.3 mn), <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-31\/brf-expands-in-saudi-arabia-in-kingdom-s-bid-for-home-grown-food\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. BRF is set to tap the region\u2019s chicken production sector for the first time upon completing the acquisition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some USD 58 mn of the investment will be allocated to expanding chicken production <\/strong><strong>and industrial facilities<\/strong>, which are currently operating at near full capacity, Vice President for the Halal Market at BRF Igor Marti told Bloomberg. <\/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\">PRIVATE EQUITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hassana jumps on Brookfields\u2019 new Mideast <\/strong><strong>fund wagon: <\/strong><a target=\"_blank\" href=\"https:\/\/hassana.com.sa\/\" style=\"\" rel=\"noopener\">Hassana Investment Company<\/a>, the investment manager of the General Organization for Social Ins., could allocate USD 500 mn to <a target=\"_blank\" href=\"https:\/\/www.brookfield.com\/\" style=\"\" rel=\"noopener\">Brookfield Asset Management<\/a> 's new USD 2 bn regional private equity fund, according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/hassana-investment-company-and-eig-sign-mou-for-strategic-collaboration-on-middle-east-infrastructure-and-energy-transition-projects-c2alvmwh\" style=\"\" rel=\"noopener\">a press release<\/a>. The allocation would be similar to what Brookfield earmarked for the fund. This comes after the PIF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0a8111be-665b-4e91-a880-2db0b2a9292c\/an-avalanche-from-day-two-of-the-future-investment-initiative\" style=\"\" rel=\"noopener\">inked a non-binding<\/a> MoU with Brookfield last week to join the Brookfield Middle East Partners fund as an anchor investor, albeit it didn\u2019t disclose its potential investment size. The story got ink in <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-arabias-hassana-eyes-investment-brookfield-middle-east-fund-2024-10-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-31\/saudi-arabia-s-hassana-to-join-pif-in-backing-brookfield-s-new-mideast-venture\" 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>About the fund:<\/strong> The Brookfield Middle East Partners fund plans to funnel at least 50% of its capital into Saudi Arabia, focusing on sectors such as industrials, consumer and business services, technology, and healthcare, and supporting international businesses looking to expand in the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Hassana signed a separate MoU with US-based energy and infrastructure-focused <\/strong><strong>investor <\/strong><strong><a target=\"_blank\" href=\"https:\/\/eigpartners.com\/\" style=\"\" rel=\"noopener\">EIG<\/a><\/strong> as it considers allocating up to USD 250 mn to EIG\u2019s targeted USD 1 bn regional fund, as well as becoming an anchor investor, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/hassana-investment-company-and-eig-sign-mou-for-strategic-collaboration-on-middle-east-infrastructure-and-energy-transition-projects-c2alvmwh\" style=\"\" rel=\"noopener\">press release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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>Homegrown real estate developer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/rikaz.com\/\" style=\"\" rel=\"noopener\">Rikaz Properties<\/a><\/strong><strong> launched a new arm called Zaya<\/strong> to expand its footprint in the Kingdom with an investment ticket of SAR 600 mn, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/rikaz-launches-zaya-to-develop-residential-and-commercial-projects-with-investments-totaling-sar-600mln-ge9z5jgj\" style=\"\" rel=\"noopener\">press release<\/a>. The new company will focus on developing residential and commercial projects, including Skaya, Upscala, Uptown, along with several others in Dhahran, Khobar, and Riyadh.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/addoha-poultry\/\">Addoha Poultry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ades-holding\/\">Ades Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/law-practice\/\">law practice<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mayar-holding\/\">Mayar Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/rikaz-real-estate\/\">Rikaz Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/shenyang-yuanda-intellectual-industry-group\/\">Shenyang Yuanda Intellectual Industry Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91145\" 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=\"91145\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/imf-lowers-mena-growth-forecast-amid-regional-conflicts-and-oil-cuts\/\">\r\n                            IMF lowers MENA growth forecast amid regional conflicts and oil cuts                        <\/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\/11\/03\/imf-lowers-mena-growth-forecast-amid-regional-conflicts-and-oil-cuts\/\" 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\/11\/03\/imf-lowers-mena-growth-forecast-amid-regional-conflicts-and-oil-cuts\/')\">\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\/11\/03\/imf-lowers-mena-growth-forecast-amid-regional-conflicts-and-oil-cuts\/\">\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=IMF lowers MENA growth forecast amid regional conflicts and oil cuts&url=https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/imf-lowers-mena-growth-forecast-amid-regional-conflicts-and-oil-cuts\/\">\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\/11\/03\/imf-lowers-mena-growth-forecast-amid-regional-conflicts-and-oil-cuts\/&title=IMF lowers MENA growth forecast amid regional conflicts and oil cuts\">\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=IMF+lowers+MENA+growth+forecast+amid+regional+conflicts+and+oil+cuts+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F11%2F03%2Fimf-lowers-mena-growth-forecast-amid-regional-conflicts-and-oil-cuts%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\/11\/03\/imf-lowers-mena-growth-forecast-amid-regional-conflicts-and-oil-cuts\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/49.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91146\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/imf-lowers-mena-growth-forecast-amid-regional-conflicts-and-oil-cuts\/49-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/49.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"49.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/49.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/49.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91145\" class=\"content-area-description single-story post-91145 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-debt tag-economy tag-enterpriseam-ksa tag-financial-markets tag-imf tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.f3a0b819-8273-40a6-a446-1d728690e2af.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Middle East region\u2019s economic growth is expected to slow to 2.1% i<\/strong><strong>n 2024<\/strong>, down from an earlier estimate of 2.7%, according to the International Monetary Fund's (IMF) latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2894.pdf\" style=\"\" rel=\"noopener\">regional economic outlook (pdf)<\/a>. Next year\u2019s growth forecast was also trimmed to 4%, driven by insufficient foreign direct investment amid regional wars and high debt levels in mid-income economies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IMF attributed the slowdown to regional conflicts<\/strong>, particularly the escalated tensions in Gaza, Lebanon, and Sudan, impacting stability and potentially creating \u201clasting economic losses,\u201d according to the report \u2014 a projection echoed by IMF Mena and Central Asia director, Jihad Azour, in an interview with <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-31\/imf-lowers-mideast-growth-citing-conflict-and-oil-supply-cuts\" 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>Some policy recs advise caution:<\/strong> States around the conflict zone, including Egypt, Jordan, and Iraq, \u201cneed to be protective to preserve their macroeconomic stability,\u201d Azour said. However, \u201ccrucial structural reforms could face rising social discontent and political resistance, hindering policy execution and constraining growth.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil cuts are also to blame: <\/strong>Oil production cuts imposed by Opec+ are also squeezing revenues for oil-reliant Mena economies, including Saudi Arabia, the UAE, and Iraq. The oil management alliance recently delayed a planned supply increase to December, citing weak demand from China and increased production elsewhere.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the non-oil sector remains a bright spot:<\/strong> \u201cGrowth of the non-oil sector in the Gulf Cooperation Council has been resilient and has been driving the growth for the last couple of years,\u201d Azour said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE is set to lead GCC growth in 2025, driven by an expected 4-5% growth in its non-oil economy<\/strong> thanks to the \u201ceffectiveness of the country\u2019s economic policies,\u201d Azour said separately, according to <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b5ykyvp-uae-economic-growth-projected-lead-region-2025\" style=\"\" rel=\"noopener\">Wam<\/a>. He highlighted investments in tech, renewables, and green initiatives as key growth drivers for the Emirates.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Less gloomy on the global front: <\/strong>The IMF revised downwards its forecast for global growth next year to 3.2%, a 0.1 percentage point downward revision from its July estimate, on the back of escalating geopolitical tensions and trade protectionism.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\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>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\">12,022<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +0.5%)<\/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>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\">1,507<\/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: -2.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">27,225<\/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: +11.0%)<\/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-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,658<\/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: +23.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,349<\/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: -2.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,621<\/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: +13.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,729<\/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: +20.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,177<\/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: +5.7%)<\/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>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\">4,878<\/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\">+1.0% (YTD: +7.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 73.10<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2.66<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.6%<\/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>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 2,749<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 69,271<\/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: +64.4%)<\/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 closed flat on Thursday on turnover of SAR 6.6 bn.<\/strong> The index is up 0.5% 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> Astra Industrial (+7.10%), Marafiq (+6%) and EIC (+5.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>APC (-5.8%), Americana (-4.60%) and AICC (-3.4%).<\/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><strong> rose 1.3% on Thursday on turnover of SAR 59.9 mn.<\/strong> The index is up 11% 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> Banan (+10.8%), Horizon Food (+10%) and Paper Home (+8.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Naseej Tech (-16.6%), Al Rashid Industrial (-9.6%) and Mulkia (-4.50%)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/imf\/\">IMF<\/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=\"91147\" 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\/11\/03\/91147\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91147\" class=\"content-area-description single-story post-91147 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\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-9 November (Saturday- Saturday): WTA Finals, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-4 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>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>18-19 December (Wednesday-Thursday): <\/span> <span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/impaq.media.gov.sa\/\" style=\"\">Impact Makers Forum (ImpaQ)<\/a><\/span><span>, <\/span><span>Mayadeen Hall, 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\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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