{"id":91669,"date":"2024-11-19T00:00:00","date_gmt":"2024-11-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=91669"},"modified":"2025-12-14T19:33:28","modified_gmt":"2025-12-14T19:33:28","slug":"aramco-and-sinopec-break-ground-on-the-usd-9-8-bn-fujian-refinery-efg-hermes-launches-a-new-usd-300-mn-education-fund-in-saudi","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/aramco-and-sinopec-break-ground-on-the-usd-9-8-bn-fujian-refinery-efg-hermes-launches-a-new-usd-300-mn-education-fund-in-saudi\/","title":{"rendered":"Aramco and Sinopec break ground on the USD 9.8 bn Fujian refinery + EFG Hermes launches a new USD 300 mn education fund in Saudi"},"content":{"rendered":"<section id=\"91671\" 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=\"91671\">\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\/19\/united-international-holding-company-kicks-off-its-ipo-retail-subscription-today\/\">\r\n                            THIS MORNING: United International Holding Company kicks off its IPO retail subscription today                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/united-international-holding-company-kicks-off-its-ipo-retail-subscription-today\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The only thing more packed than this morning\u2019s issue <\/strong><strong>are Riyadh\u2019s roads on weekday afternoons.<\/strong> We have for you this morning news from UIHC\u2019s IPO, EFG Hermes\u2019 USD 300 mn Saudi-focused education fund, a passel of developments on Planet Startup, and a look at the real estate market in the week after Cityscape Global. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT FIRST- We\u2019re delighted this morning to welcome <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.tasheelfinance.com\/\" style=\"\" rel=\"noopener\">Tas\u2019heel Finance<\/a><\/strong><strong> as our anchor <\/strong><strong>sponsor of EnterpriseAM Saudi Arabia. <\/strong>Tas\u2019heel is a fast-growing innovator in the Kingdom\u2019s burgeoning digital financial services market. It\u2019s the leading NBFI installment provider in the Kingdom and has built on its cornerstone partnership with electronics giant eXtra to include more than 300 retailers and service providers from Ikea to Saudi-German Hospital, Virgin Megastore, and Gold\u2019s Gym. It serves hundreds of thousands of clients online and at in-person locations across the Kingdom, offering personal finance, installments, credit cards, and more. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tas\u2019heel is a company with ambitions that match ours: <\/strong>Led by a globally experienced management team, it aims to be the leading multi-product, multi-category digital financial services company in the Kingdom as well as Saudi\u2019s largest provider of Shariah-compliant consumer finance solutions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Please join us in welcoming the good people at Tas\u2019heel to EnterpriseAM Saudi. <\/strong>Their support ensures your morning read is available without charge every weekday morning. <\/p>\n<p class=\"tag-border-left\">IPO WATCH-<\/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- Our friends at Tas\u2019heel kick off this morning the two-day retail <\/strong><strong>subscription for their IPO on Tadawul\u2019s main market.<\/strong> The United International Holding Company \u2014 which owns and operates the Tas\u2019heel brand name \u2014 will offer 10% of the shares in its IPO to individual investors, who can place orders for up to 250k shares per buyer. The final allocation of shares will take place next Monday (25 November). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The institutional offering was a runaway success, selling out within minutes of opening <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5b38d8dc-39ce-4488-91f7-f2471a55fefb\/uihc-ipo-priced-at-the-top-of-the-range\" style=\"\" rel=\"noopener\">last month<\/a><\/strong> as investors placed bids totalling more than SAR 131 bn, making the offering 132x oversubscribed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> The financial services arm of United Electronics Company (eXtra) is taking a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8b038b54-c689-425e-a58c-17710329d5ab\/%253cmark%253eunited-international%253c%2Fmark%253e-holding-company-issues-prospectus-for-tadawul-ipo\" style=\"\" rel=\"noopener\">30% stake<\/a> to Tadawul and has priced the IPO at the top of its indicative range at SAR 132 apiece. The final pricing will see selling shareholders lock in SAR 990 mn in total proceeds, giving the firm a market cap of SAR 3.3 bn at listing. The offering will see eXtra pocket all of the proceeds after an estimated SAR 37 mn are put aside to cover IPO-related expenses, and SAR 190 mn go to repaying some of eXtra\u2019s debt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Our friends at<strong> HSBC Saudi Arabia <\/strong>are quarterbacking the transaction as sole financial advisor and lead manager, while also acting as joint bookrunners and underwriters with the good folks at <strong>EFG Hermes KSA<\/strong>. Our friends at Baker McKenzie are international legal counsel to the bankers, while The Law Firm of Salah Al-Hejailan and Feshfields are advising UIHC.<\/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>#2-<\/strong> <strong>Multiple Saudi companies are said to be mulling listings on the Hong Kong Exchange<\/strong> in a bid to raise funds for infrastructure projects in Saudi Arabia, HKEX Chairman Carlson Tong Ka-shing told <a target=\"_blank\" href=\"https:\/\/www.scmp.com\/business\/article\/3286696\/middle-eastern-companies-express-interest-hong-kong-listings-hkex-chairman-says\" style=\"\" rel=\"noopener\">South China Morning Post<\/a>, citing senior officials from Tadawul and the PIF who spoke with a Hong Kong delegation in Riyadh last month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What he said: <\/strong>\u201cIt is a win-win situation for Saudi companies to list in Hong Kong as they can raise funds to diversify their economy, while Hong Kong and international investors can also access the Gulf economy,\u201d explained Ka-shing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- Investors are increasingly active on the Riyadh-Hong Kong corridor. <\/strong>Bank Albilad rolled out the SAR 4.49 bn CSOP MSCI Hong Kong China ETF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6a922a0c-c70a-4ba2-85bb-bcd1403bb75d\" style=\"\" rel=\"noopener\">last month<\/a> to become Saudi Arabia\u2019s largest ETF to track Hong Kong-listed Chinese stocks. That <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0e9b16dd-6816-4f88-8019-3adb09d754c3\" style=\"\" rel=\"noopener\">mirrored Hong Kong\u2019s move<\/a> to list a Saudi-focused ETF on the Hong Kong exchange <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d68a2eb6-2f0d-4eb4-a958-a4eb0595b96f\" style=\"\" rel=\"noopener\">in November of last year<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong> Qualified investors have until Thursday to subscribe to Arabica Star\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6c67356a-e596-4372-b049-7fd106826a59\/%253cmark%253earabica%253c%2Fmark%253e-star-to-ipo-a-25%2525-stake-on-nomu\" style=\"\" rel=\"noopener\">25%<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6c67356a-e596-4372-b049-7fd106826a59\/%253cmark%253earabica%253c%2Fmark%253e-star-to-ipo-a-25%2525-stake-on-nomu\" style=\"\" rel=\"noopener\">stake offering<\/a> on Tadawul\u2019s parallel market, Nomu. The final allocation of shares is slated for Tuesday, 26 November.<\/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- <\/strong>Riyadh is looking at a high of 31\u00b0C and a low of 16\u00b0C today. Over in Makkah, the mercury will peak at 34\u00b0C and hit a low of 24\u00b0C. Meanwhile, Dammam is looking at a high of 31\u00b0C and a low of 20\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\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- Global index provider <\/strong><strong>FTSE Russell is set to increase Aramco\u2019s investability <\/strong><strong>weight in its <\/strong><strong>Global Equity Index Series <\/strong><strong>(GESI) to 2.38%, up from 1.85%<\/strong> as part of its December 2024 quarterly review, it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1710.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a>. The increased investability weight means greater visibility to international investors and could lead to more foreign capital inflows, supporting Aramco\u2019s global market appeal. The statement has all the details on how Aramco\u2019s weight will change in selected FTSE Russell headline indices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The update follows Aramco\u2019s  <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9976843d-0022-47e2-b976-5cca651d18fc\/strong-demand-on-aramco%25e2%2580%2599s-first-bond-sale-since-2021\" style=\"\" rel=\"noopener\">USD 12.4 bn secondary offering<\/a>  back in June, which redistributed some ownership to international and local investors, while the Saudi government retained a 97.62% stake.<\/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> #2- Egypt\u2019s Mountain<\/strong> <strong>View expands into Saudi market with SAR 1.2 bn <\/strong><strong>investment:<\/strong> Real estate developer Mountain View has entered the Saudi market with a SAR 1.2 bn investment that will see the developer build 500 housing units in the Kingdom, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1770015\" style=\"\" rel=\"noopener\">Argaam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We saw this coming:<\/strong> Back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44d3bb58-4d45-40aa-8114-ac3553330773\/tatweer-misr,%253cmark%253e-mountain-view%253c%2Fmark%253e-prepare-for-ksa-expansions\" style=\"\" rel=\"noopener\">September<\/a>, Mountain View announced that it would be introducing its first project \u2014 developed in partnership with local developers Maya Real Estate Development and Investment and Al Saedan Real Estate \u2014 to the Kingdom by November.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#3- Financial services providers can now manage transactions on omnibus <\/strong><strong>accounts for the Saudi debt market<\/strong> after the Saudi Securities Depository Center (Edaa) kicked off omnibus accounts for debt securities, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details?1dmy&urile=wcm:path:\/Tadawul_en\/SA-Tadawul\/SA-PricesAndIndeces\/SA-News\/SA-MarketNews\/CT-marketnews-%20EDAA%2017-11-2024\" style=\"\" rel=\"noopener\">an announcement on Tadawul<\/a>. The launch follows the Capital Markets Authority\u2019s (CMA) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6c119219-302a-4af5-a03d-65471b200230\/cma-approves-new-regs-on%253cmark%253e-omnibus%253c%2Fmark%253e-accounts\" style=\"\" rel=\"noopener\">approval of new omnibus regulations<\/a> which took effect on Thursday, with the updated guidelines looking to increase efficiency and streamline investor access to Saudi securities by consolidating accounts. The CMA had drafted the amendments <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0ffe4f69-931b-45e5-a785-0937490e5a1b\/saudi-canadian-business-council-is-back-at-work-after-five-year-hiatus\" style=\"\" rel=\"noopener\">earlier this year<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise? What are omnibus accounts?<\/strong> An omnibus account is a shared investment account that pools together the assets and trades of several customers, allowing brokers to execute, and clear trades on behalf of clients. Omnibus account transactions are executed in the broker\u2019s name, which allows individual investors to maintain anonymity.<\/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>#4- Nomu-listed Banan Real Estate received regulatory approval from the Saudi <\/strong><strong>Exchange to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/acfb93b7-3303-41eb-ab39-7e6ef6f8bebc\/arabian-oud-taps-bankers-for-planned-tadawul-ipo\" style=\"\" rel=\"noopener\">transition to the main market<\/a><\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details\/!ut\/p\/z1\/vVLLcoIwFP0Vu-gyk8s7LukLdbCKCAobJkJoaSEopqWf36hdqOOj3TSrezInOffec3CM5zjm9LN4oaKoOS0ljmIzMWwT1B6BkTN1FfBCyyWhN1Wgr-MQxzhOuViKVxwJmtH2o0wYv4U1RT9wWy-bImVryrOCZ0xW20vO2l1R0eadiR1MxR5EHdFQvs5Z01E7CkGKglRQ9Y1oWae0ZDhifIOWaZHhaKGbXcgVinTN6CLdoiZa5CRFqQUG1XUjpyTHs8OZyNAxwXu2vZFqGeCEgOPLIx-9B39sgPc0HmouTMAB83fv4cyxr-r7cuJI_mGdJdlS5LNgLQ543VTSRv-PK5Ls2f0w8YLHiVTa23QP8OBafzIzxdtqFdsyGDUX7Evg-f8lY7Zpfr_Bkd21pD-DO6fv2hoxrWPCiQAcEk44vCVcsHBZVUSrUBDM23bKouTBzf1-Yd98AxbT3JI!\/dz\/d5\/L2dBISEvZ0FBIS9nQSEh\/?locale=en\" style=\"\" rel=\"noopener\">a statement<\/a>. The SAR 200 mn company will continue to trade on Nomu until the transfer document is published. Trading will then halt for up to five sessions before listing on the main market. Tadawul hasn\u2019t given dates for the move.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- <\/strong><strong>Nomu-listed food delivery app Jahez International also lined up approval to<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8a6401bc-1d5c-4d35-8f03-d100bb0c978d\/\" style=\"\" rel=\"noopener\">transfer<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8a6401bc-1d5c-4d35-8f03-d100bb0c978d\/\" style=\"\" rel=\"noopener\">to the<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8a6401bc-1d5c-4d35-8f03-d100bb0c978d\/\" style=\"\" rel=\"noopener\">Tadawul main market<\/a><\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details\/!ut\/p\/z1\/vVLLdoIwEP0Vu-gyJ8M7XdIX6sEqIihsOBFiSwsBMZV-fqN2oR4f7aZZzZ1zJ3dm7uAYz3DM6Tp_pSKvOC0kjmIzMWwT1C6BoTNxFfBCyyWhN1Ggp-MQxzhOuajFG44EzWj7WSSM38KKoh-4jesmT9mK8iznGZPRNslZuwtK2nwwsYOp2IOoIxrKVwvWdBSCFAWpoOobyaJKacFwxPgG1Wme4UjTVUrvgCAttSjSVSNFc12zkKYazJybKdOIgqeHE5GBY4L3YntD1TLACQHHlwc-qgd_ZID3PBpoLozBAfN39XDm2Vf1fTlxJP-wzpJsKbLOWYsDXjWlNNH_44oke_owSLzgaSyV9jbdBdy_1p-8mPx9uYxteRYVF-xL4Nl_3cV00_p-e0P7zpLu9O-dnmtrxLSOCSfsPySc8HdLuGBgXZZEK1EQzNp2wqLk0V34vdy--QaCv7Q1\/dz\/d5\/L2dBISEvZ0FBIS9nQSEh\/?locale=en\" style=\"\" rel=\"noopener\">a statement<\/a>. The SAR 104.9 mn company will continue trading on Nomu until the transfer is finalized. The exact dates will be announced once the process is finalized.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- <\/strong><strong>Yaqeen <\/strong><strong>Capital received approval from the Capital Market Authority for the public <\/strong><strong>offering of its Opportunistic Fund<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3675.aspx\" style=\"\" rel=\"noopener\">statement<\/a> from the authority. No further details about the offering were provided.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">NEWS TRIGGERS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A handful of news triggers coming up in the next few weeks:<\/strong><\/p>\n<ul>\n<li>Trade balance for September (Sunday, 24 November);<\/li>\n<li>Riyad Bank PMI for November (Tuesday, 3 December);<\/li>\n<li>State budget approval and release (December).<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Loans handed out to MSMEs in the Kingdom increased 17% y-o-y in 2Q 2024 to SAR <\/strong><strong>307.4 bn<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1769956\" style=\"\" rel=\"noopener\">Argaam<\/a> reported, citing data from the Saudi Central Bank (Sama). Medium-sized firms had the lion\u2019s share of credit at SAR 167.3 bn, followed by small enterprises at SAR 106.4 bn, and micro enterprises at SAR 33.7 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Waqf investment funds saw their assets under management (AUM) grow 29.3% y-o-y in<\/strong><strong> 9M<\/strong> <strong>2024 to SAR 1 bn<\/strong>, with five new funds receiving licenses during 3Q, bringing the total number of licensed funds to 34, the General Authority of Awqaf said in <a target=\"_blank\" href=\"https:\/\/x.com\/AWQAF_KSA\/status\/1858445422911472036\" style=\"\" rel=\"noopener\">a post on X<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong><strong>The Interior Ministry\u2019s Absher platform processed over 6.35 mn digital<\/strong><strong> transactions in <\/strong><strong>October<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.absher.sa\/wps\/portal\/individuals\/Home\/homepublic\/contents\/!ut\/p\/z1\/rZFPU8IwEMW_iheOmd2kIa3HVpyCqCgIpbl00j9IFAK0tei3N0UvjoLjjHvYmU3e7L7fPJAwB2lUox9VrTdGrewcS5EIdn1B-x4bjh5653g_dF28YXcUESE6CHDAeZ9yNgxRMPRnY49fDro0FBxk-32kfIQZSJCZqbf1EuJsY-rC1FUHtcl1o_MXtarOVNlBU-yrj27HbKmbooMqrZZFmdjHhLqEUsKQcZWosl25zXQOMROewzBXxBU5J1xxTjxnsSAiTdFxmJcV3fQT4QTjLwhRe--bxMdgzAIHMRyxHwVfdkys69j6cI_7cCBqdLGHqdmUaxvN5I-YfYSrg40TpDZu_bTbSd9m0mbxWsP8v0LZrqdrz3kjz4tecEvC6B1rMLIJ\/dz\/d5\/L2dBISEvZ0FBIS9nQSEh\/\" style=\"\" rel=\"noopener\">a press release<\/a>. \u0650The Absher Individuals app saw 3.8 mn operations, topped by residency permit issuances and renewals (314.1k transactions), while the Absher Business platform saw 2.5 mn operations.<\/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>Saudi\u2019s oil exports hit a three-month high in September<\/strong>, notching up 80k bbl \/ d m-o-m, to 5.751 mn bbl \/ d, according to the <a target=\"_blank\" href=\"https:\/\/www.jodidata.org\/oil\/database\/customisable-charts.aspx#dchart1920\" style=\"\" rel=\"noopener\">latest figures<\/a> from the Joint Organizations Data Initiative. Meanwhile, production notched down 17k bbl \/ d at 8.98 mn bbl \/ d. The story got ink from <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-arabias-crude-oil-exports-september-hit-three-month-peak-2024-11-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>\u26bd The Green Falcons will face Indonesia today at 3:00 PM (Saudi Arabia time) at the <\/strong><strong>Gelora <\/strong><strong>Bung Karno Stadium<\/strong>, Jakarta, in a key match for the 2026 World Cup group qualifiers. Currently, the Saudi national team sits in third place with 6 points, trailing Australia on goal difference. The top two teams in the group will automatically qualify for the 2026 World Cup in North America, while the third and fourth-placed teams will move on to a subsequent round of qualifier<strong>.<\/strong><\/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 Tasheel.<\/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>COP29 climate talks in Baku are in disarray and multiple Western media outlets are <\/strong><strong>portraying Saudi Arabia as spoiler-in-chief. <\/strong>Ministers leading the talks, including top officials from Germany, Australia, and South Africa, have flown into Azerbaijan in a bid to put things back on track. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The key sticking points in this final week of talks: <\/strong>Saudi leads a group of countries that don\u2019t want the final agreement to include steps outlining how countries will transition away from fossil fuels and embrace greener energy. Saudi, the UAE and China are also resisting pushes to contribute to a fund to help developing countries transition \u2014 backers want a USD 100 bn goal (agreed a decade ago) to be bumped up to USD 1 tn, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ccdb666f-f057-41c7-867a-6265d9a2406e\" style=\"\" rel=\"noopener\">Financial Times<\/a> notes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The flavor in the western press: <\/strong>\u201cSaudi Arabia is a \u2018wrecking ball\u2019 in global climate talks,\u201d blares the headline in the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/11\/18\/climate\/saudi-arabia-obstruction-fossil-fuels.html\" style=\"\" rel=\"noopener\">New York Times<\/a>. <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-16\/cop29-clash-brews-as-saudis-resist-restating-fossil-fuel-pledge\" style=\"\" rel=\"noopener\">Bloomberg<\/a> has a similar take. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Eat the rich:<\/strong> The G20, meeting in Rio, has pledged to impose taxes on the super-rich \u2014 and repeated a demand that the climate finance pool be expanded to \u201ctns\u201d not \u201cbns\u201d of USD. The call to <a target=\"_blank\" href=\"https:\/\/www.ajc.com\/news\/nation-world\/host-brazil-focuses-g20-summit-on-fighting-hunger-amid-wars-and-trumps-return\/7RWSUGQU2VFVPATCN6VXMPV5ME\/\" style=\"\" rel=\"noopener\">tax bn\u2019aires incomes by 2%<\/a>, pushed by Brazil, is short on specifics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WORTH READING- The Wall Street Journal\u2019s portrait of the incoming Trump <\/strong><strong>administration\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/trump-transition-witkoff-middle-east-39364c30\" style=\"\" rel=\"noopener\">\u201cpoint man\u201d on the Middle East<\/a><\/strong>, real estate baron Steve Witkoff.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking to Trump II: It\u2019s still unclear who will run Treasury<\/strong> and the National Economic Council, though <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-18\/trump-team-shows-support-for-warsh-as-treasury-feuding-persists\" style=\"\" rel=\"noopener\">Bloomberg<\/a> suggests we may have some clarity here before the week is out.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME- Oman\u2019s state energy company, OQ, is looking to raise as much as <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-18\/oman-s-oq-seeks-to-raise-490-million-from-methanol-unit-ipo\" style=\"\" rel=\"noopener\">USD 490 mn<\/a><\/strong><strong> from the IPO of its methanol and liquefied petroleum unit<\/strong>. Cornerstone investors for up to 30% of the offering are reportedly in place.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Saudi Omani <\/strong><strong>Investment is stepping up as an anchor investor:<\/strong> The wholly-owned PIF subsidiary Saudi Omani Investment, along with Gulf Investment Corp., Falcon Investments, and Oman\u2019s Social Protection Fund will be among the cornerstone investors. The subscription period for the offering runs 24 November through 1 December, with trading on the Muscat Stock Exchange to start around 15 December. <\/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:\/\/blackhatmea.com\/\" style=\"\" rel=\"noopener\">Black Hat MEA 2024<\/a><\/strong><strong> cybersecurity conference and exhibition<\/strong> will take place between 26-28 November at the Riyadh Exhibition & Conference Center in Malham. The event will gather cybersecurity professionals and technology developers. Speakers include information security leaders from Bayer, SoftBank Investment Advisors, the US Intelligence Community, the CIA, and Knostic.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two-day Saudi Green Initiative Forum <\/strong>will kick off on Tuesday, 3 December, according to a <a target=\"_blank\" href=\"https:\/\/www.greeninitiatives.gov.sa\/knowledge-hub\/fourth-edition-of-saudi-green-initiative-forum-to-be-hosted-in-unccd-cop16-green-zone-in-riyadh-this-december\/\" style=\"\" rel=\"noopener\">statement<\/a>. The forum will coincide with COP16 of the United Nations Convention to Combat Desertification, which will be held in Riyadh between 2 and 13 December. <\/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:\/\/ztc.sa\/en\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Zakat, Tax and Customs Conference 2024<\/a><\/strong> begins on 4 December at the King Abdullah Financial District. <\/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:\/\/redseafilmfest.com\/en\/\" style=\"\" rel=\"noopener\">Red Sea International Film Festival<\/a><\/strong> will run from 5-14 December in Jeddah. <\/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> is set to open its doors on 18 December, bringing together media influencers, industry experts, and digital content creators in Riyadh\u2019s Mayadeen Hall.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Fortune Global Forum <\/strong>is coming to Riyadh in December 2025, according to a <a target=\"_blank\" href=\"https:\/\/fortune.com\/2024\/11\/15\/fortune-global-forum-2025-riyadh-saudi-arabia\/\" style=\"\" rel=\"noopener\">press<\/a><a target=\"_blank\" href=\"https:\/\/fortune.com\/2024\/11\/15\/fortune-global-forum-2025-riyadh-saudi-arabia\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/fortune.com\/2024\/11\/15\/fortune-global-forum-2025-riyadh-saudi-arabia\/\" style=\"\" rel=\"noopener\">release<\/a>. The forum serves as a platform for the leaders of the world's largest companies, policymakers, and other influential figures to discuss global economic and business trends, challenges, and opportunities.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/arabica-star\/\">Arabica Star<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/banan-real-estate\/\">Banan Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ftse-russell\/\">FTSE Russell<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            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<\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91673\" 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=\"91673\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/\">\r\n                            Aramco + Sinopec begin construction on Fujian refinery, operation slated for 2030                        <\/a>\r\n                    <\/h3>\r\n\r\n                    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         <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/&title=Aramco + Sinopec begin construction on Fujian refinery\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Aramco+%2B+Sinopec+begin+construction+on+Fujian+refinery+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F11%2F19%2Faramco-sinopec-begin-construction-on-fujian-refinery%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\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91674\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/1795-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1795.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91673\" class=\"content-area-description single-story post-91673 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-aramco tag-energy tag-enterpriseam-ksa tag-fujian tag-sabic tag-sinopec 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\/.d111ad70-6019-40a9-991a-e0c513ba7065.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Aramco + Sinopec break ground on USD 9.82 bn Fujian <\/strong><strong>petrochems<\/strong> <strong>complex:<\/strong> Saudi Aramco and China\u2019s state-owned refining giant Sinopec have kicked off construction work at a refinery and petrochemical complex in southeast China\u2019s Fujian province, with operations expected to begin in 2030, according to a <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2024\/aramco-sinopec-and-fujian-petrochemical-break-ground-on-new-refining-and-petrochemical-project\" style=\"\" rel=\"noopener\">press release<\/a>. The new refining hub is estimated to cost USD 9.82 bn, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/sinopec-aramco-start-building-petrochemical-complex-chinas-fujian-2024-11-18\/\" style=\"\" rel=\"noopener\">Reuters reports<\/a>. Aramco and Sinopec inked <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2022\/aramco-sinopec-and-sabic-expand-refining-and-petrochemical-cooperation\" style=\"\" rel=\"noopener\">a preliminary agreement<\/a> for the greenfield project back in 2022. <\/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>Who owns what: <\/strong>Aramco and Sinopec will each hold a 25% stake in the venture, while Fujian Petrochemical \u2014 a JV between Sinopec and the Fujian government \u2014 will hold the remaining 50%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Project profile:<\/strong> The new refining hub is situated in Zhangzhou city\u2019s Gulei industrial park and includes a 320k bbl \/ d refinery, ethylene and paraxylene plants, and a 300k-ton crude oil terminal. Once operational, the facility is expected to supply some 5 mn tons of petrochemical feedstocks a year. The initiative is separate from another <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/83f71d61-b567-4336-bce6-f051c87e01d1\" style=\"\" rel=\"noopener\">USD 6.4 bn Sabic refining complex<\/a> that is also situated in Gulei industrial park, Reuters explained. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco is doubling down on downstream assets in China: <\/strong>The state-owned oil giant is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/51218718-e3c5-4e5d-9a37-ca9fd7139376\/aramco-reportedly-scraps-plans-for-ras-al-khair-refining-and-chemical-plant\" style=\"\" rel=\"noopener\">\u201crecalibrating\u201d its petrochemicals portfolio<\/a> and shifting its focus towards Asia, with the firm pursuing several downstream oil investments in China that look to lock in demand for Saudi crude in the long run. Aramco also sees demand for plastics and other petroleum derivatives growing in Asia and is angling for a larger market share in those markets. Saudi Aramco has set its sights on supplying 1 mn bbl \/ d of crude to China to supply petrochem investments, Aramco's downstream president Mohammed Al Qahtani said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also from Aramco + China:<\/strong> Aramco inked agreements with Rongsheng Petrochemical and Hengli Group <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a71fc74c-204d-4a33-8c12-6a6214662425\/aramco-deepens-ties-with-china%25e2%2580%2599s-rongsheng-%2B-hengli-refiners\" style=\"\" rel=\"noopener\">in September<\/a>, advancing plans to expand the Saudi Aramco Jubail Refinery with Rongsheng and acquire a 10% stake in Hengli Petrochemical. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fujian\/\">Fujian<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sabic\/\">SAbic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sinopec\/\">Sinopec<\/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=\"91675\" 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=\"91675\">\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\">EDUCATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/efg-hermes-launches-usd-300-mn-saudi-focused-education-fund\/\">\r\n                            EFG Hermes launches USD 300 mn education fund in Saudi Arabia                        <\/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\/19\/efg-hermes-launches-usd-300-mn-saudi-focused-education-fund\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The firm\u2019s Saudi Education Fund \u201caims to capitalize on the clear market opportunity that is evidenced by the growing student population in private schools, which is expected to more than double,\u201d the statement added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong><strong> gameplan: <\/strong>SEF plans to deploy USD 300 mn over the next three years, with a primary focus on the Kingdom, alongside its ventures in the UAE and Bahrain, EEP CEO Ahmed Wahby <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4370279\/-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D8%AA%D8%B9%D9%84%D9%8A%D9%85-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D9%84%D9%80-%D9%85%D8%A8%D8%A7%D8%B4%D8%B1-%D9%86%D8%AE%D8%B7%D8%B7-%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-300-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%AE%D9%84%D8%A7%D9%84-3-%D8%B3%D9%86%D9%88%D8%A7%D8%AA\/\" style=\"\" rel=\"noopener\">said<\/a>. <a target=\"_blank\" href=\"http:\/\/www.spark-eg.com\/\" style=\"\" rel=\"noopener\">Spark Egypt for Training and Development<\/a>, led by the EEP team, is set to manage and oversee the new fund\u2019s activities, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fund is acquiring four schools in Saudi Arabia: <\/strong>SEF has acquired seven schools from GFH Financial Group under the <a target=\"_blank\" href=\"https:\/\/brituseducation.com\/\" style=\"\" rel=\"noopener\">Britus Education<\/a> brand. Four of the schools are in the Kingdom, including <a target=\"_blank\" href=\"https:\/\/britus.alolaya.edu.sa\/\" style=\"\" rel=\"noopener\">Britus International Schools Al Olaya<\/a>, <a target=\"_blank\" href=\"https:\/\/educationgater.egis.edu.sa\/\" style=\"\" rel=\"noopener\">Education Gate International School Al Rawdah<\/a>, <a target=\"_blank\" href=\"https:\/\/lis.edu.sa\/a-britus-education-school\/\" style=\"\" rel=\"noopener\">Education Gate International School Almurabba<\/a>, and <a target=\"_blank\" href=\"https:\/\/brightlife.blisch.edu.sa\/\" style=\"\" rel=\"noopener\">Bright Life International School<\/a>. This is in addition to two schools in the UAE and one in Bahrain. Together, the schools can accommodate 12k students, with 8k already enrolled. The acquisition is subject to regulatory approvals. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Britus: <\/strong>Britus Education is a Manama-based network of schools offering affordable, high-quality education to students across the Kingdom, Bahrain, the UAE and Tunisia, according to its <a target=\"_blank\" href=\"https:\/\/brituseducation.com\/about\/\" style=\"\" rel=\"noopener\">webpage<\/a>. The operator provides a wide range of international curricula including the British Curriculum, US Common Core curriculum, IB Diploma Programme and the Egyptian curriculum. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Same play, new stage: <\/strong>\u201cDrawing on the expertise and insights we've gained over the past five years while establishing Egypt\u2019s premier K-12 operator, <a target=\"_blank\" href=\"https:\/\/egypteducationplatform.com\/\" style=\"\" rel=\"noopener\">Egypt Education Platform (EEP)<\/a>, we are poised to deliver exceptional educational services to our new student populations. Through this investment, we are committed to ensuring that Britus Education flourishes and adapts to the dynamic needs of students and communities throughout the region,\u201d said Karim Moussa, Co-CEO of EFG Hermes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s EEP?<\/strong> Launched in 2018 under EFG Hermes' first education fund, the platform has built a diverse portfolio of 25 assets in Egypt, including 23 schools and pre-schools offering five curricula with a capacity of 25k students, an educational content business (Selah El Telmeez) serving 3-4 mn students annually, and a transportation service (Option Travel) catering to over 3k students daily.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- PwC Middle East <\/strong>acted as the financial and tax advisor to SEF, with <strong>White & <\/strong><strong>Case<\/strong> providing counsel. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/efg-holding\/\">EFG Holding<\/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=\"91677 advertiser\" class=\"issue-section enterprise-adv\">\n<div 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                   Homebuyers in Saudi Arabia prefer home-grown brands                        <\/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\/19\/saudi-buyers-like-home-grown-real-estate-brands-regional-builders-aim-to-change-that\/\" 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\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1793.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91679\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/saudi-buyers-like-home-grown-real-estate-brands-regional-builders-aim-to-change-that\/1793-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1793.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1793.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1793.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1793.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91678\" class=\"content-area-description single-story post-91678 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-enterpriseam-ksa tag-neom tag-real-estate tag-roshn tag-sodic tag-tmg 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\/.7498685f-52c9-41dd-abc3-4bccd98805df.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>What\u2019s next for real estate developers in Saudi Arabia? <\/strong>With Cityscape Global now in the rearview mirror, we sat down with our friend Tamer Elfiky (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/tamerelfiky\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) to talk over market dynamics and what\u2019s next for the industry as more developers \u2014 Saudi, Egyptian, and others \u2014 look to Saudi Arabia as the next great regional growth market. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tamer is an insider\u2019s insider: <\/strong>He was a partner and head of operations in Egypt for Knight Frank MENA and was previously a senior exec at both Savills Middle East and at high-end Egyptian developer Sodic. Today, he is the co-founder of Ctrl+, a regional real estate marketing consultancy. Edited excerpts from our conversation follow:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ENTERPRISE- Now that you\u2019ve had time to digest it, what stands out after last week\u2019s event?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TAMER ELFIKY- <\/strong>The energy was palpable \u2014 buzzing with excitement and curiosity. Cityscape felt more like a festival of ideas than an exhibition. The halls were packed with developers. The majority of them were Saudi, but Egyptian players were well-represented, as were others from the region and beyond. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The market dynamics will be challenging for some: <strong>What really stood out was how locals gravitated toward familiar names, the big Saudi players they trust.<\/strong> Newer foreign entrants, including those from Egypt, faced a more reserved welcome, but the interest in homegrown offerings was undeniable.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: On the issue of \u201cbig Saudi players they trust\u201d \u2014 is it fair to say there are no undisputed \u201cchampions\u201d of the Saudi market the way there are in the UAE and Egypt?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T:<\/strong> That\u2019s actually spot on. Unlike the UAE, where giants like Emaar dominate, or Egypt, where TMG and SODIC are household names, the Saudi market is more diffuse. There isn\u2019t that one private-sector developer everyone sees as the go-to. Trust here tends to rest on familiarity and family legacies. State-backed entities like Roshn and NHC are solid and respected, but they don\u2019t carry that same private-sector \u201cstar power.\u201d There\u2019s definitely room for a standout to emerge as the market matures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: There was a lot of focus on megaprojects including Neom and Roshn. As a market insider, what\u2019s your take? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T:<\/strong>The mega projects were the showstoppers, no doubt. They\u2019re bold, massive in ambition, with virtual showcases and enormous models that felt almost like science fiction brought to life. They scream \u201cFuture\u201d and reflect Saudi\u2019s determination to redefine itself. But here\u2019s the thing: <strong>They\u2019re still aspirational at this stage, not quite where investors can jump in.<\/strong> The allure is there, but so is the distance between vision and reality for most who want to invest now.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How are the megaprojects and the drive to grow Riyadh\u2019s population changing market dynamics?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T: It\u2019s a double-edged sword. <\/strong>The influx of expats drawn by these ambitious projects and the spotlight on Saudi real estate have driven up rents, making it tough for middle-income and affordable housing seekers in Riyadh. There\u2019s some nervousness about competing with foreign investors as the rules evolve. But that\u2019s just one side of the coin. Many Saudis are genuinely excited \u2014 Vision 2030\u2019s push to turn renters into homeowners is pivotal, and the next decade will be about whether locals can keep up with fast-changing market dynamics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How do foreign investors see the megaprojects?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T:<\/strong>From a Western and European lens, Saudi\u2019s mega projects look ambitious, maybe even audacious \u2014 there are echoes of Dubai\u2019s rise a couple of decades back. For professionals in engineering and project management, these are opportunities with serious upside. But there\u2019s a touch of skepticism around whether these projects can be sustained at such a scale. Here in the region, and in Egypt in particular, developers are looking at Saudi megaprojects with excitement tempered by caution. The potential is clear, but there\u2019s also a watchful eye on what this could mean for the balance of power in the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Outside of the megaprojects, who are the developers getting traction today?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T: Saudi developers such as Dar Wa Emaar, Osos, Ajlan \u2014 and even Egypt\u2019s TMG \u2014 are doing the quiet, crucial work that often gets overlooked.<\/strong> They\u2019re focused on practical housing solutions, addressing real local needs and bringing regional expertise into play. There are definite opportunities for Emirati and Egyptian players, given their deep expertise in real estate marketing. They may not have the glitter of a Neom, but they\u2019re foundational to sustaining the market and deserve more recognition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What could these changes mean for the region as a whole?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T: Saudi\u2019s ambitions are shaking up the regional real estate scene.<\/strong> The kingdom\u2019s push to become a hub for tourism, investment, and real estate could start drawing attention away from traditional heavyweights. For a place like the UAE, with an economy so intertwined with its expat community, this is worth watching. But for Egypt, which has a strong local population, the impacts might be more manageable. It\u2019s a balancing act for everyone.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>However you look at it, Cityscape Global 2024 was a clear statement of intent from Saudi Arabia, but it was far from being \u201cglobal.\u201d<\/strong> The kingdom is playing a high-stakes game, but it\u2019s also a delicate one: Aligning grand ambitions with the practical realities of affordability, sustainability, and local needs is no small feat. The coming years will show whether Saudi can turn its visions into reality that benefits not just itself, but the region as a whole. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neom\/\">NEOM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/roshn\/\">Roshn<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sodic\/\">SODIC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tmg\/\">TMG<\/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=\"91680\" 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=\"91680\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/merak-capital-launches-sar-306-mn-gaming-fund-accelerator-program\/\">\r\n                            Merak Capital kicks off SAR 306 mn fund + accelerator program                        <\/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\/19\/merak-capital-launches-sar-306-mn-gaming-fund-accelerator-program\/\" 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\/19\/merak-capital-launches-sar-306-mn-gaming-fund-accelerator-program\/')\">\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\/19\/merak-capital-launches-sar-306-mn-gaming-fund-accelerator-program\/\">\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=Merak Capital launches SAR 306 mn gaming fund + accelerator program&url=https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/merak-capital-launches-sar-306-mn-gaming-fund-accelerator-program\/\">\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\/19\/merak-capital-launches-sar-306-mn-gaming-fund-accelerator-program\/&title=Merak Capital launches SAR 306 mn gaming fund + accelerator program\">\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=Merak+Capital+launches+SAR+306+mn+gaming+fund+%2B+accelerator+program+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F11%2F19%2Fmerak-capital-launches-sar-306-mn-gaming-fund-accelerator-program%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\/19\/merak-capital-launches-sar-306-mn-gaming-fund-accelerator-program\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1791.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91681\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/merak-capital-launches-sar-306-mn-gaming-fund-accelerator-program\/1791-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1791.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1791.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1791.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1791.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91680\" class=\"content-area-description single-story post-91680 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam-ksa tag-gaming tag-merak-capital tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.926e3a5b-02ed-4e2d-8bb9-9c510130b267.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Homegrown VC firm <\/strong><strong>Merak Capital launched a SAR 306 mn gaming fund <\/strong><strong>and <\/strong><strong>accelerator program<\/strong>, dubbed Exel, targeting early-stage gaming startups looking to scale to international markets, according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/merak-capital-launches-exel-by-merak-to-empower-gaming-startups-as-global-leaders-pvs9d6eo\" style=\"\" rel=\"noopener\">a press release<\/a>. The fund will zero-in on game development studios, technologies, publishing platforms, and other services within the gaming sector. It\u2019s interested in both Saudi-based companies and international startups that have relocated to the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s on the table? <\/strong>Merak will make equity investments, offer mentorship, assistance with relocation, and other support to help Saudi gaming startups grow at home and abroad, the statement said. The accelerator component includes a virtual bootcamp, a 14-16 week core accelerator, followed by a demo day and post-program assistance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Exel plans to run 15-20 early-stage startups through the first round of the program. <\/strong>\u201cThe first batch of the accelerator will aim to create more than 120 jobs in the Saudi gaming industry, and the graduates are envisioned to contribute more than SAR 100 mn to domestic GDP,\u201d Exel VP and Leader Faisal Sedrani said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi is big on gaming:<\/strong> The local gaming sector is expected to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cb413357-ff17-44df-891a-5daffda105c3\/%253cmark%253egaming%253c%2Fmark%253e-will-nearly-break-the-usd-1-bn-barrier-in-saudi-this-year\" style=\"\" rel=\"noopener\">rake in some USD 998.2 mn<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cb413357-ff17-44df-891a-5daffda105c3\/%253cmark%253egaming%253c%2Fmark%253e-will-nearly-break-the-usd-1-bn-barrier-in-saudi-this-year\" style=\"\" rel=\"noopener\">(SAR 3.7 bn) in revenues<\/a> this year, at an estimated 11% y-o-y growth, on the back of a largely youthful population and rising incomes. Meanwhile, PIF-backed Savvy Games <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cb413357-ff17-44df-891a-5daffda105c3\/%253cmark%253egaming%253c%2Fmark%253e-will-nearly-break-the-usd-1-bn-barrier-in-saudi-this-year\" style=\"\" rel=\"noopener\">appears to be taking off<\/a> as the Kingdom doubles down on efforts to diversify its economy and boost non-oil income.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gaming\/\">GAMING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/merak-capital\/\">Merak Capital<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91682\" 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=\"91682\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/bubbl-closes-sar-1-3-mn-pre-seed-round\/\">\r\n                            Bubbl closes SAR 1.3 mn pre-seed round                        <\/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\/19\/bubbl-closes-sar-1-3-mn-pre-seed-round\/\" 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\/19\/bubbl-closes-sar-1-3-mn-pre-seed-round\/')\">\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\/19\/bubbl-closes-sar-1-3-mn-pre-seed-round\/\">\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=Bubbl closes SAR 1.3 mn pre-seed round&url=https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/bubbl-closes-sar-1-3-mn-pre-seed-round\/\">\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\/19\/bubbl-closes-sar-1-3-mn-pre-seed-round\/&title=Bubbl closes SAR 1.3 mn pre-seed round\">\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=Bubbl+closes+SAR+1.3+mn+pre-seed+round+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F11%2F19%2Fbubbl-closes-sar-1-3-mn-pre-seed-round%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\/19\/bubbl-closes-sar-1-3-mn-pre-seed-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1787.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91683\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/bubbl-closes-sar-1-3-mn-pre-seed-round\/1787-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1787.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1787.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1787.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1787.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91682\" class=\"content-area-description single-story post-91682 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-bubbl tag-enterpriseam-ksa tag-social-media tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.0ba93d23-980e-4617-9f29-7bd408764a52.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Homegrown social networking platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/getbubbl.app\/\" style=\"\" rel=\"noopener\">Bubbl<\/a><\/strong> <strong> closed a SAR 1.3 mn (USD <\/strong><strong>350k) pre-seed <\/strong><strong>funding round<\/strong> led by angel investor Abdullah Al Dosari (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/adossary\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/11\/saudi-social-network-platform-bubbl-raises-350000-pre-seed\" style=\"\" rel=\"noopener\">press release<\/a>. The raised funds will go towards expanding the platform\u2019s user base to 1 mn daily active users. No further details were disclosed on the identity of other investors contributing to the round, or on whether the investments are debt or equity based. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Bubbl: <\/strong>Founded in March by Ayah Alhmmoud (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ayah-alhmmoud-89965a119\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), Bubbl is an iPhone widget that allows live conversation between close circles of friends, with each user limited to 20 connections, according to its website. The platform currently has 60k active daily users, with 80% based in Saudi and 98% accessing the service via iPhones. The app has also reached upwards of 10 mn users via social media marketing campaigns. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/bubbl\/\">Bubbl<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/social-media\/\">social media<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91684\" 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=\"91684\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/trump-meets-key-players-in-potential-pga-tour-liv-golf-merger\/\">\r\n                            Trump meets key players in potential PGA Tour- LIV Golf merger, details remain unclear                        <\/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\" 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\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\/19\/trump-meets-key-players-in-potential-pga-tour-liv-golf-merger\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1740.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91685\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/trump-meets-key-players-in-potential-pga-tour-liv-golf-merger\/1740-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1740.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1740.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1740.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1740.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91684\" class=\"content-area-description single-story post-91684 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-donald-trump tag-enterpriseam-ksa tag-entertainment tag-liv-golf tag-pga-golf tag-public-investment-fund-pif tag-saudi-in-the-news tag-sports tag-yasir-al-rumayyan 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\/.9df16c84-50f9-4b25-9bc6-728bc57b5161.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>President-elect Donald Trump recently engaged with key figures from both sides of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/83c3ba99-8359-4914-a4e5-e68a74d558d5\/no%253cmark%253e-liv%253c%2Fmark%253e-pga-merger-just-yet\" style=\"\" rel=\"noopener\">a<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/83c3ba99-8359-4914-a4e5-e68a74d558d5\/no%253cmark%253e-liv%253c%2Fmark%253e-pga-merger-just-yet\" style=\"\" rel=\"noopener\">potential PGA Tour-LIV Golf merger<\/a><\/strong><strong>, <\/strong>highlighting his involvement in the ongoing negotiations shaping the future of professional golf,the <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/sports\/2024\/11\/17\/donald-trump-pga-liv-golf\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> reports citing sources it says are familiar with the matter. On Friday, Trump played golf with PGA Tour Commissioner Jay Monahan in Florida. The next day, he attended a UFC fight in New York, where he met PIF Governor Yasir al-Rumayyan, alongside Elon Musk.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The president-elect is confident that he can broker an agreement between the rival tours, <\/strong>saying earlier this month on Jim Gray and Bill Belichick\u2019s \u201cLet\u2019s Go\u201d Podcast that it would take him \u201cthe better part of 15 minutes\u201d to square away an agreement (<a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/us\/podcast\/week-10-donald-trump\/id1584409759?i=1000675644778\" style=\"\" rel=\"noopener\">listen, runtime: 24:16<\/a>). Nevertheless, the incoming president has said that he has larger priorities on his immediate agenda.<\/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\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\/donald-trump\/\">Donald Trump<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/entertainment\/\">entertainment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/liv-golf\/\">Liv Golf<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pga-golf\/\">PGA Golf<\/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\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/yasir-al-rumayyan\/\">Yasir Al Rumayyan<\/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=\"91686\" 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=\"91686\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/general-authority-for-competition-names-new-ceo\/\">\r\n                            General Authority for Competition names new CEO                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/general-authority-for-competition-names-new-ceo\/\" 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\/19\/general-authority-for-competition-names-new-ceo\/')\">\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\/19\/general-authority-for-competition-names-new-ceo\/\">\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=General Authority for Competition names new CEO&url=https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/general-authority-for-competition-names-new-ceo\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/general-authority-for-competition-names-new-ceo\/&title=General Authority for Competition names new CEO\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=General+Authority+for+Competition+names+new+CEO+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F11%2F19%2Fgeneral-authority-for-competition-names-new-ceo%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/general-authority-for-competition-names-new-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1781.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91687\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/general-authority-for-competition-names-new-ceo\/1781-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1781.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1781.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1781.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1781.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91686\" class=\"content-area-description single-story post-91686 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-ksa tag-general-authority-for-competition-gac tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.c1b2614b-2c35-4919-bbf4-1747ecda0b2c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The General Authority for Competition tapped Fahad Alshathri <\/strong><strong>(<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/fahadalshathri\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>)<\/strong><strong> as its new CEO<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/gac.gov.sa\/#\/page\/news\/details\/62212aa8-760e-4dcd-a91c-3396c57809a8\" style=\"\" rel=\"noopener\">a statement<\/a>. Alshathr held senior executive roles at Saudi Central Bank (Sama), the Social Development Bank, the Arab Fund for Economic and Social Development, and the International Monetary Fund.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n\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\/general-authority-for-competition-gac\/\">General Authority for Competition (GAC)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91688\" 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=\"91688\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/a-new-rixos-branded-sar-1-4-bn-resort-in-the-eastern-province\/\">\r\n                            A new Rixos branded SAR 1.4 bn resort in the Eastern Province                        <\/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\/19\/a-new-rixos-branded-sar-1-4-bn-resort-in-the-eastern-province\/\" 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\/19\/a-new-rixos-branded-sar-1-4-bn-resort-in-the-eastern-province\/')\">\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\/19\/a-new-rixos-branded-sar-1-4-bn-resort-in-the-eastern-province\/\">\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=A new Rixos branded SAR 1.4 bn resort in the Eastern Province&url=https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/a-new-rixos-branded-sar-1-4-bn-resort-in-the-eastern-province\/\">\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\/19\/a-new-rixos-branded-sar-1-4-bn-resort-in-the-eastern-province\/&title=A new Rixos branded SAR 1.4 bn resort in the Eastern Province\">\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=A+new+Rixos+branded+SAR+1.4+bn+resort+in+the+Eastern+Province+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F11%2F19%2Fa-new-rixos-branded-sar-1-4-bn-resort-in-the-eastern-province%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\/19\/a-new-rixos-branded-sar-1-4-bn-resort-in-the-eastern-province\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1755.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91689\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/a-new-rixos-branded-sar-1-4-bn-resort-in-the-eastern-province\/1755-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1755.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1755.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1755.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1755.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91688\" class=\"content-area-description single-story post-91688 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-acwa-power tag-al-soliman-real-estate tag-also-on-our-radar tag-dar-wa-emaar tag-enterpriseam-ksa tag-hospitality tag-neom tag-real-estate tag-renewables tag-saudi-china-relations 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\/.42613418-021d-4e49-ad78-e297a519619a.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\">HOSPITALITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Turkey-based real estate and hospitality outfit <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ftgdevelopment.com\/\" style=\"\" rel=\"noopener\">FTG Group<\/a><\/strong><strong> is set to co-fund a SAR 1.4 bn <\/strong><strong>multi-use resort with the Tourism Development Fund in the Eastern Province<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/x.com\/TDF_SA\/status\/1858146587890864135\" style=\"\" rel=\"noopener\">a post on X<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/travel-and-tourism\/saudi-tdf-to-build-372mln-multi-use-resort-in-eastern-region-vmc87v91\" style=\"\" rel=\"noopener\">a Zawya report<\/a>. The resort will be operated by French hospitality provider <a target=\"_blank\" href=\"https:\/\/all.accor.com\/a\/en.html\" style=\"\" rel=\"noopener\">Accor<\/a> under the Rixos brand. There\u2019s no publicly available information about the ownership structure, funding breakdown, and the project\u2019s timeline.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the resort: <\/strong>The resort will span 262k sqm, and feature 400 hotel units , 41 villas, and a variety of dining and entertainment options. It will be the Eastern Province\u2019s first all-inclusive coastal destination, offering a comprehensive experience for visitors<\/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\">RENEWABLES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Acwa Power sealed SAR 15 bn worth of power purchase agreements with <\/strong><strong>the Saudi <\/strong><strong>Power Procurement Company for two large-scale combined cycle gas turbine power plants<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83719&anCat=1&cs=2082&locale=en\" style=\"\" rel=\"noopener\">a filing to Tadawul<\/a>. The 25-year contracts were awarded under a \u201cdevelopment, financing, build, own and operate\u201d model. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Rumah-1 in Riyadh and Al-Nairyah-1 are located in the Eastern Province, and will each boast a production capacity of 1.8 MW. ACWA Power owns a 35% stake in both projects, while Saudi Electricity Company and Korea Electric Power Corp. (KEPCO) are also shareholders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Malath Cooperative Ins. and Liva Ins. lined up a non-objection decision from the General <\/strong><strong>Authority for Competition for their potential merger<\/strong>, according to two disclosures to Tadawul (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83702&anCat=1&cs=8020&locale=en\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83706&anCat=1&cs=8280&locale=en\" style=\"\" rel=\"noopener\">here<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The companies signed a non-binding MoU <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/33bd1df0-c99d-4cdf-bb40-f2dc3da33713\/severe-weather-warning\" style=\"\" rel=\"noopener\">in August<\/a> to conduct due diligence for the merger. In <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d6656ccf-8f50-441a-92e1-aa0c86b797cd\/bawan-moves-to-fully-acquire-petronash-global\" style=\"\" rel=\"noopener\">September<\/a>, Malath appointed Alinma Investment as its financial advisor, while Liva tapped SNB Capital. Once a final agreement is reached, the transaction will be subject to the shareholders\u2019 approval, in addition to clearance from the Ins. Authority, the Capital Market Authority, and the Saudi Exchange.<\/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>#2- Gulf Union Al Ahlia Cooperative Ins. and Gulf General Cooperative Ins. also received <\/strong><strong>a non-objection decision from the General Authority for Competition for their potential merger, <\/strong>according to two disclosures to Tadawul (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83707&anCat=1&cs=8120&locale=en\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83701&anCat=1&cs=8260&locale=en\" style=\"\" rel=\"noopener\">here<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The two companies signed a non-binding MoU <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/556ee91d-889b-4f96-9034-58fe46012ba9\/two-m&a-transactions-in-the-pipeline\" style=\"\" rel=\"noopener\">in August<\/a> to explore a merger through a share-swap agreement where Gulf Union Al Ahlia would acquire 100% of Gulf General. Gulf Union Al Ahlia <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/df182e9a-15c6-4e92-8e00-68571411cf14\/mawani-%2B-al-jeri-to-develop-two-new-logistics-zones\" style=\"\" rel=\"noopener\">tapped<\/a> Al Jazira Capital as its financial advisor, while Gulf General appointed Alinma Investment.<\/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>#1- Built Industrial secures a mixed-use development contract: <\/strong>Ladun Investment\u2019s construction arm <a target=\"_blank\" href=\"https:\/\/built.com.sa\/\" style=\"\" rel=\"noopener\">Built Industrial<\/a> landed a SAR 645.7 mn contract with a Saudi Fransi Capital-managed fund for The Point Abha, a 75k sq m mixed-use development along the King Fahd Road in Abha, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83673&anCat=1&cs=9535&locale=en\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The development will include a shopping center, hotel, entertainment facilities, administrative buildings, open plazas, and gardens. The three-year agreement was signed with the Real Estate Development Fund, which is owned by the Tourism Development Fund and the Red Sea Asir Company.<\/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>#2- Dar wa Emaar to add commercial centers to its development North of Riyadh:<\/strong> Real estate developer <a target=\"_blank\" href=\"https:\/\/darwaemaar.com\/en\/\" style=\"\" rel=\"noopener\">Dar wa Emaar<\/a> partnered with the National Housing Company (NHC) to build integrated commercial centers at its <a target=\"_blank\" href=\"https:\/\/darwaemaar.com\/en\/project\/saraya-al-jawan\/\" style=\"\" rel=\"noopener\">Saraya Al Jiwan<\/a> development North of Riyadh, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/dwe-world_darwaemaar-nhc-activity-7262824284824260609-17tx?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">LinkedIn post<\/a>. The centers will be established within the <a target=\"_blank\" href=\"https:\/\/nhc.sa\/en\/khuzam\/\" style=\"\" rel=\"noopener\">Khuzam<\/a> district. No timeline or investment ticket was disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Anb Capital tapped <\/strong><strong><a target=\"_blank\" href=\"https:\/\/sauditharwa.com\/\" style=\"\" rel=\"noopener\">Saudi Thawra<\/a><\/strong><strong> to create a SAR 2 bn real estate<\/strong><strong> investment fund<\/strong>, anb said in a <a target=\"_blank\" href=\"https:\/\/anbcapital.com.sa\/web\/anbcapital\/news-details?news-id=3497333\" style=\"\" rel=\"noopener\">statement<\/a>. The fund, which will be managed by anb Capital, will develop infrastructure projects over a 4.2 mn sq m area in Eastern Riyadh, with a focus on Al Sharq district. The infrastructure will lay the groundwork for future residential and mixed-use developments in the area. No timeline was disclosed.<\/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\">CONSTRUCTION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Turkish construction companies are scrambling to land Neom Bay Airport contract<\/strong>, with <a target=\"_blank\" href=\"https:\/\/www.limak.com.tr\/homepage\" style=\"\" rel=\"noopener\">Limak<\/a>, <a target=\"_blank\" href=\"http:\/\/www.ictas.com.tr\/en\/Insaat\" style=\"\" rel=\"noopener\">IC Ictas<\/a>, and one of either <a target=\"_blank\" href=\"https:\/\/www.yda.com.tr\/en\/\" style=\"\" rel=\"noopener\">YDA Group<\/a> or <a target=\"_blank\" href=\"https:\/\/www.tavconstruction.com\/eng\/index.html\" style=\"\" rel=\"noopener\">Tav Construction<\/a> reportedly among the contenders for the USD 1 bn airport, <a target=\"_blank\" href=\"https:\/\/www.turkiyetoday.com\/business\/turkish-construction-giants-compete-for-neom-bay-airport-contract-in-saudi-arabia-80626\/\" style=\"\" rel=\"noopener\">T\u00fcrkiye Today<\/a> reports. IC Ictas and Limak have both completed the preliminary application stages for the tender, according to the Turkish outlet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IC Ictas is no stranger to the Kingdom<\/strong>, having worked already on terminal projects at King Khalid International Airport.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MEDIA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi state news agency SPA signed a cooperation agreement with its Chinese <\/strong><strong>counterpart Xinhua <\/strong>to exchange knowledge on the use of AI and advanced tech in content creation, among other areas, according to statements from both agencies (<a target=\"_blank\" href=\"https:\/\/english.news.cn\/20241115\/32a44c0e2a194d2293fe3eb61fb9b121\/c.html\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2208096\" style=\"\" rel=\"noopener\">here<\/a>). The agreement also includes launching training programs for their journalists.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/acwa-power\/\">ACWA power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-soliman-real-estate\/\">Al-Soliman Real Estate<\/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\/dar-wa-emaar\/\">Dar wa Emaar<\/a>\n             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<\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91690\" 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=\"91690\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/international-investors-are-increasingly-interested-in-mena-startups\/\">\r\n                            International investors are increasingly interested in MENA startups                        <\/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\/19\/international-investors-are-increasingly-interested-in-mena-startups\/\" 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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wp-post-image\" alt=\"\" data-attachment-id=\"91691\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/international-investors-are-increasingly-interested-in-mena-startups\/1765-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1765.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1765.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1765.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1765.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91690\" class=\"content-area-description single-story post-91690 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets tag-magnitt tag-planet-finance tag-startups tag-venture-capital 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\/.d4484910-d411-49ee-acc8-d98a5cb2dcf3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>International investor interest in the MENA startups is heating up:<\/strong> MENA startups have witnessed a surge in international investor activity in 9M 2024, with the region\u2019s 28% y-o-y increase in unique investors positioning it as the fastest growing arena for international venture capital across Southeast Asia, Africa, and the Middle East during the first nine months of the year, according to Magnitt\u2019s latest <a target=\"_blank\" href=\"https:\/\/magnitt.com\/research\/2020-to-Q3-2024-How-Are-Global-Investors-Shaping-Emerging-Venture-Markets-Premium-Report-50963?utm_source=press&utm_medium=marketing&utm_campaign=2024flagshipreports\" style=\"\" rel=\"noopener\">International Investor Evolution Report<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The broad strokes: <\/strong>The MENA region\u2019s overall growth in investor activity was driven by a 60% y-o-y increase in international investors in the region\u2019s startups \u2014 particularly those from the US and UK, the report writes. International venture capitalists also doubled their capital share in the region during 9M 2024 compared to the same period last year, reaching 37% of deployed capital. The growth was also driven by higher interest investing in early-stage startups, with series A transactions capturing 50% of international capital share in 9M 2024, up from just 15% in 9M 2023. Moreover, the MENA region has seen international venture capitalists\u2019 share of participation rise from 28% in 2020 to 51% in 2024, according to a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1720.pdf\" style=\"\" rel=\"noopener\">Magnitt press release (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Within the region, Egypt and the UAE led this investor influx: <\/strong>Egypt saw a 32% y-o-y increase in unique investors in 9M 2024, underpinned by a 79% y-o-y rise in local venture capitalists and significant contributions from the UK. The UAE also made significant strides in attracting international venture capital, with the report noting that the UAE saw a 24% y-o-y increase in unique investors during 9M 2024 \u2014 largely driven by a doubling of US-based participants.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite recent gains, the region continues to lag behind on aggregate: <\/strong>Recent progress notwithstanding, MENA startups continue to lag behind Southeast Asia and Africa in terms of total venture capital deployed, with the region registering USD 947 mn in deployed capital to Africa\u2019s USD 1.2 bn and Southeast Asia\u2019s USD 11.7 bn in 9M 2024.<\/p>\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are kicking the day off in the green during early trading this morning<\/strong>, with Japan\u2019s Nikkei up 0.5%, followed by Hong Kong\u2019s Hang Seng and Korea\u2019s Kospi both at 0.3%. Over in China, the Shanghai index is down 0.4%.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,830<\/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: -1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,487<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.1% (YTD: -4.10%)<\/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\">29,596<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +20.7%)<\/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\">5.25% 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\">4.75% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,864<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2% (YTD: +24.0%)<\/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>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\">9,387<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: -2.0%)<\/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>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\">4,713<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +16.1%)<\/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>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\">5,893.62<\/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: 23.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,109<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +4.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,790<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +6.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 73.22  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+3.1%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.94  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+4.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,612.30<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.6%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 90,387.30<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +104.6%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI <\/strong>rose 0.2% <strong>yesterday <\/strong>on turnover of SAR 5.5 bn. The index is down 1.1% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Zoujaj (+9.1%), Ardco (+5.8%) and Amak (+4.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>East Pipes (-3.8%), APC (-3.7%) and AWPT (-3.3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong> rose 0.4% <strong>yesterday <\/strong>on turnover of SAR 221.4 mn. The index is up 20.7% 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> Shalfa (+14.0%), Sure (+13.2%) and Alnaqool (+12.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Alqemam (-12.0%), NGDC (-5.9%) and Horizon Educational (-5.7%)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/magnitt\/\">Magnitt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startups\/\">Startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/venture-capital\/\">venture capital<\/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=\"91692\" 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\/19\/91692\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91692\" class=\"content-area-description single-story post-91692 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>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>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;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 two-day retail subscription of United Holding International Company\u2019s Tadawul IPO.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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 November (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.alwatan.com.sa\/article\/1156298\" style=\"\">Invest in Health Forum<\/a><\/span><span style=\"font-weight:400;\">, Najran<\/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;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-21 <\/span><span style=\"font-weight:400;\">November (Wednesday-Thursday):  King Abdullah Financial District (KAFD) Leadership Conference, Kafd 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;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 November (Thursday): Final allocation for Multi Business Group\u2019s (MBG) Nomu IPO.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>22 November (Friday): Submission deadline for UNCCD <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unccdcop16.org\/Scientific-Excellence-Awards\" style=\"\">Young Researchers Award<\/a><\/span><span style=\"font-weight:400;\"> at COP16. <\/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): 600, Jeddah Yacht Club and Marina. <\/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;\">24 November (Sunday): Balance of trade for September.<\/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 November (Monday):The final allocation of shares of United Holding International Company\u2019s IPO on Tadawu.<\/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 November (Monday): Refunds for Multi Business Group\u2019s (MBG) Nomu IPO.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25-27 November (Monday-Wednesday): World Investment Conference, Riyadh.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 November-1 December (Monday-Sunday): Offering period for Digital Research Company\u2019s (DRC) Nomu IPO.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26 November (Tuesday): Saudi Aramco <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83415&anCat=1&cs=2222&locale=en\" style=\"\">3Q 2024 dividend distribution<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/blackhatmea.com\/\" style=\"\">Black Hat MEA 2024<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Exhibition & Conference Center, Malham  <\/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>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiarabia-energy.com\/en\/home.html\" style=\"\">Saudi Electricity Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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;\"> Joint Ministerial Monitoring Committee meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1 December (Sunday): Dallah Healthcare 3Q 2024 <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83582&anCat=1&cs=4004&locale=en\" style=\"\">dividend distribution<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-4 December (Monday-Wednesday): Emmanuel Macron expected to visit 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>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;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-13 December (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unccdcop16.org\/?gad_source=1&gclid=Cj0KCQiA6Ou5BhCrARIsAPoTxrCf8i-2Fokjm7Rz3Ys4e37AsdPLAWM8ZV3GYw3aKetfB1OpKuUGD9waAu6AEALw_wcB&lang=en\" style=\"\">Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding-top:12pt;margin:0;padding-left:0;padding-bottom:12pt;line-height:1.15;orphans:2;widows:2;text-align:left;padding-right:0\"><span style=\"font-weight:400;\">3 December (Tuesday): Riyad Bank PMI for November.<\/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>3-4 December (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.greeninitiatives.gov.sa\/knowledge-hub\/fourth-edition-of-saudi-green-initiative-forum-to-be-hosted-in-unccd-cop16-green-zone-in-riyadh-this-december\/\" style=\"\">Saudi Green Initiative (SGI)<\/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;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4 December (Wednesday): Final allocation for Digital Research Company\u2019s (DRC) Nomu IPO.<\/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;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>5-14 (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/redseafilmfest.com\/en\/\" style=\"\">Red Sea International Film Festival<\/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 style=\"font-weight:400;\">8 December (Sunday): Refunds for Digital Research Company\u2019s (DRC) Nomu IPO.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cphi.com\/middle-east\/en\/home.html\" style=\"\">CPHI Middle East<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Exhibition & Convention 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>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;\">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>12-14 December (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/mdlbeast.com\/events\/soundstorm-2024\" style=\"\">Soundstorm by MDLBEAST<\/a><\/span><span style=\"font-weight:400;\"> music festival.<\/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 style=\"font-weight:400;\">17-18 December (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.<\/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 style=\"font-weight:400;\">, 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>31 December (Tuesday): Last day for taxpayers to benefit from <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1301.aspx\" style=\"\">Zatca\u2019s fines and penalties waiving initiative<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">State budget approval and release.<\/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>1Q: BinDawood Holding expected to close <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1765279\" style=\"\">100% acquisition<\/a><\/span><span style=\"font-weight:400;\"> of Zahrat Al Rawdah Pharma  <\/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;\">1Q: Roshn expected to raise SAR 2.6 bn from international bank<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Saudi and Turkey plan to raise their bilateral trade volume to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.trtworld.com\/turkiye\/turkiye-saudi-arabia-aim-to-boost-trade-to-dollar10-billion-18228043\" style=\"\">USD 10 bn<\/a><\/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>1-17 January (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dakar.com\/en\/overall-route\" style=\"\">2025 Dakar<\/a><\/span><span style=\"font-weight:400;\">, Bisha and Shubaytah. <\/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 style=\"font-weight:400;\">28-29 January (Tuesday-Wednesday): Federal Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-29 January (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sustainmideast.com\/\" style=\"\">Sustainability Forum Middle East<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29-30 January (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/x.com\/Global_LMC?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor\" style=\"\">Global Labor Market Conference<\/a><\/span><span>, Riyadh.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 February (Saturday): UFC event, The Venue, Riyadh. <\/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>6 February (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/x.com\/RERSaudi\/status\/1853003668976538016\" style=\"\">Property registration deadline<\/a><\/span><span style=\"font-weight:400;\"> for owners in several districts of seven Qassim cities.<\/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>8 February (Saturday): Sotheby\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sothebys.com\/en\/buy\/auction\/2025\/origins?locale=en&cmp=msotw\" style=\"\">first auction<\/a><\/span><span> in the Kingdom, Diriyah. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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>16-17 February (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2024\/11\/13\/pr24418-saudi-arabia-imf-hold-high-level-annual-conference-emerging-markets\" style=\"\">AlUla Conference for Emerging Market Economies<\/a><\/span><span style=\"font-weight:400;\">, AlUla. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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;\">1-30 March: Ramadan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-19 March (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.<\/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;\">APRIL 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-9 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudisf.com\/en\/\" style=\"\">Sports Investment Forum (SIF)<\/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;\">MAY 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-7 May (Tuesday-Wednesday): Federal Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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;\">16-17 June (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections. <\/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\">JULY 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 July (Thursday): Deadline for companies with SAR 2.5 mn or more in 2022\/2023 revenues to integrate e-invoicing solutions with Fatoora. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29-30 July (Tuesday-Wednesday): Federal Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-18 September (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections. <\/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;\">OCTOBER 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-29 October (Tuesday-Wednesday): Federal Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-26 November (Monday-Wednesday) T<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wamsaudi.com\/\" style=\"\">he World Advanced Manufacturing & Logistics Saudi Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Convention & Exhibition Centre, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>December: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fortune.com\/2024\/11\/15\/fortune-global-forum-2025-riyadh-saudi-arabia\/\" style=\"\">The Fortune Global Forum 2025<\/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;\">9-10 December (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections. <\/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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Riyadh-Kudmi transmission line<\/span><span style=\"font-weight:400;\"> to be completed.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>What\u2019s next in real estate? Egypt\u2019s Mountain View expands to Saudi. Merak gaming fund. New competition authority boss<\/p>\n","protected":false},"featured_media":91670,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-91669","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"df10de78-455b-461e-aae6-89376895d920","teaser":"What\u2019s next in real estate? Egypt\u2019s Mountain View expands to Saudi. Merak gaming fund. New competition authority boss","photo_url":"https:\/\/ent.news\/2024\/4\/684.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Aramco and Sinopec break ground on the USD 9.8 bn Fujian refinery + EFG Hermes launches a new USD 300 mn education fund in Saudi - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/aramco-and-sinopec-break-ground-on-the-usd-9-8-bn-fujian-refinery-efg-hermes-launches-a-new-usd-300-mn-education-fund-in-saudi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aramco and Sinopec break ground on the USD 9.8 bn Fujian refinery + EFG Hermes launches a new USD 300 mn education fund in Saudi\" \/>\n<meta property=\"og:description\" content=\"What\u2019s next in real estate? 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