{"id":92055,"date":"2024-12-01T00:00:00","date_gmt":"2024-12-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=92055"},"modified":"2025-12-14T19:39:30","modified_gmt":"2025-12-14T19:39:30","slug":"moodys-upgrades-ratings-for-saudi-banks","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/moodys-upgrades-ratings-for-saudi-banks\/","title":{"rendered":"Moody\u2019s upgrades ratings for Saudi banks"},"content":{"rendered":"<section id=\"92057\" 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=\"92057\">\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\/12\/01\/riyadh-metros-blue-line-begins-operations-today\/\">\r\n                            THIS MORNING: Riyadh Metro\u2019s Blue Line begins operations 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\/12\/01\/riyadh-metros-blue-line-begins-operations-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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It\u2019s a relatively busy start to the last month of the year, leading with new ratings from Moody\u2019s for Saudi banks, as well as reports that Saudi and the US are moving towards a different type of military pact after months of negotiations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have details on these stories and more in this morning\u2019s news well, below. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>BUT FIRST-<\/strong><strong> The Public Investment Fund may be asking its portfolio <\/strong><strong>companies to slash <\/strong><strong>their 2025 budgets by up to 20%<\/strong>, marking the second consecutive year of cuts, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-29\/saudi-arabia-s-pif-is-shifting-priorities-may-cut-some-project-budgets\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources it says are familiar with the matter. Some projects are reportedly already seeking external financing to offset the prospective tightening. Next year\u2019s spending plans should be presented to the fund\u2019s board for approval this month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Despite the uptick in the PIF\u2019s overall spending, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cf4ea426-06ba-4e00-8d2a-a7948c8b5bd0\/brownie-points-for-pacing\" style=\"\" rel=\"noopener\">recalibrations of some of the<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cf4ea426-06ba-4e00-8d2a-a7948c8b5bd0\/brownie-points-for-pacing\" style=\"\" rel=\"noopener\">national gigaprojects<\/a> reflect a shift in the Kingdom\u2019s USD-tn 2030 agenda as the pressure to juggle mega-projects intensifies with the country hosting the 2027 AFC Asian Cup, the 2029 Asian Winter Games, and the 2030 World Expo.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Which projects are on the fast track? <\/strong>Cornerstone projects like Diriyah, Qiddiya, and King Salman International Airport remain on track, with some even accelerating construction timelines, Bloomberg wrote. Meanwhile, Neom\u2019s budget saw a 20% trim this year, and sources say more adjustments may be on the horizon.<\/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>Al Fakhera Men\u2019s Tailoring\u2019s share price remained basically unchanged on the first day of <\/strong><strong>trading on Nomu at <\/strong><strong>SAR 6.0 apiece<\/strong><strong>.<\/strong> Al Fakhera\u2019s shares can fluctuate within a \u00b130% range for the first three days, after which price fluctuations will be capped at \u00b110% as circuit breakers take effect.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The company priced its 20% stake IPO at the top of its indicative price range at SAR 6 per share, after the offering was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/51b0f6be-988f-4b3a-b016-3563075cd1b6\/%253cmark%253eal%253c%2Fmark%253e%253cmark%253e-fakhera%253c%2Fmark%253e-men%25e2%2580%2599s-tailoring-nomu-ipo-was-2.7x-oversubscribed\" style=\"\" rel=\"noopener\">2.7x oversubscribed<\/a>. The pricing would give Al Fakhera a market cap of SAR 180 mn at listing and should see it raise some SAR 36 mn in IPO proceeds.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>Three Riyadh Metro lines will open today as part of a pilot phase<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.rcrc.gov.sa\/en\/news\/57515\" style=\"\" rel=\"noopener\">a<\/a><a target=\"_blank\" href=\"https:\/\/www.rcrc.gov.sa\/en\/news\/57515\" style=\"\" rel=\"noopener\">statement<\/a> from Riyadh\u2019s Royal Commission. The lines going online are Line 1 (Al Olaya-Al Batha route), Line 4 (King Khalid International Airport Road), and Line 6 (Abdulrahman bin Auf Road-Sheikh Hassan bin Hussein bin Ali Road).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> Line 2 (King Abdullah Road) and Line 5 (King AbdulAziz Road) are scheduled to launch on 15 December, while the final Line 3 (Al Madinah Al Munawwarah Road) is set to go live on 5 January, 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some 71% of Riyadh residents see the launch of the metro changing their transportation<\/strong><strong> habits<\/strong>, while 60% say they will use the underground and other means of public transport to commute to work and school, according to a <a target=\"_blank\" href=\"https:\/\/x.com\/ksaopinions\/status\/1862528394207928716\" style=\"\" rel=\"noopener\">survey<\/a> by the National Center for Public Opinion Polls. Some 81% think that the Metro will reduce traffic congestion and 83% expect it will have a positive impact on the environment.<\/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 22\u00b0C and a chillier low of 12\u00b0C today. Over in Madinah, the temperature will peak at 27\u00b0C, before dropping to 16\u00b0C. Meanwhile, Jeddah will see a high of 30\u00b0C, and a low of 23\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>NOT HAPPENING TODAY-<\/strong> <strong>OPEC+ pushed back its oil policy meeting to this Thursday, <\/strong><strong>5 December from <\/strong><strong>today <\/strong>due to a scheduling clash with a GCC summit taking place in Kuwait, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-postpones-output-policy-meeting-dec-5-sources-say-2024-11-28\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Energy Minister Prince Abdulaziz bin Salman held talks with his Russian and Kazakh counterparts <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9fb4da2c-a20e-450d-8dd9-b36ebe5ad183\/public-investment-fund-targets-sar-4-tn-in-aum-by-2025\" style=\"\" rel=\"noopener\">last week<\/a> ahead of the talks, with officials from Saudi Arabia, Iraq, and Russia also meeting in Baghdad on Tuesday. The group is reportedly considering <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/847069a0-93dc-4323-8577-6ad6ad75749b\/saudi-leads-mena-%2B-arab-countries-on-quality-infrastructure-index\" style=\"\" rel=\"noopener\">putting off plans to begin phasing out production cuts<\/a> from January to 2Q 2025 due to risks of oversupply. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>The next round of e-invoicing: <\/strong>Companies that recorded more than SAR 2 mn in revenues subject to VAT in 2022 or 2023 will need to integrate their e-invoicing solutions with Zatca\u2019s <a target=\"_blank\" href=\"https:\/\/fatooraonline.com\/\" style=\"\" rel=\"noopener\">Fatoora<\/a> platform by a deadline of 31 August, 2025, according to a <a target=\"_blank\" href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1312.aspx\" style=\"\" rel=\"noopener\">statement<\/a> from Zacta. This is the latest phase of an e-invoicing rollout that began in late 2021.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Almoosa Health has a busy pipeline through 2028: <\/strong>Local healthcare provider <a target=\"_blank\" href=\"https:\/\/almoosahealthgroup.org\/\" style=\"\" rel=\"noopener\">Almoosa<\/a><a target=\"_blank\" href=\"https:\/\/almoosahealthgroup.org\/\" style=\"\" rel=\"noopener\">Health<\/a> plans to open five standalone primary healthcare centers in the Eastern Province between 2025 and 2027, namely in Al Ahsa, Al Khobar, and Dammam, the company said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2747.pdf\" style=\"\" rel=\"noopener\">intention to float (pdf)<\/a>. In addition, the company plans to add a 300-bed hospital in Al Hofuf by 2027 and another 400-bed one in Khobar by 2028, bringing its overall capacity to 1.4k beds across four hospitals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Almoosa plans to take a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ba117519-9b2b-4aa5-a915-b8dd61381d84\" style=\"\" rel=\"noopener\">30% stake<\/a> to Tadawul\u2019s main market, with proceeds earmarked for repaying outstanding debt and supporting growth plans.<\/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>Saudi <\/strong><strong>Arabia\u2019s ins. <\/strong><strong>sector<\/strong><strong> is poised for an increase in M&A activities<\/strong> amid a wider consolidation trend in the GCC region, Moody\u2019s Ratings Vice President and Senior Analyst Mohammed Ali Londe was quoted as saying by <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/m-a\/saudi-arabia-insurance-sector-set-to-see-more-m-and-as-moodys-owwbmjk9\" style=\"\" rel=\"noopener\">Zawya<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Saudi Arabia <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/48fd02a7-e0d1-41f2-a016-16b77ed6d926\" style=\"\" rel=\"noopener\">stood out<\/a> as a top destination for M&A activity in the MENA region in 9M 2024, according to EY. The Kingdom and the UAE saw a combined 239 agreements valued at USD 24.5 bn during the period. In addition, the Kingdom recorded the largest domestic transaction in the region, namely Saudi Aramco\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e7f765ed-7098-437e-a070-c3d229381b06\" style=\"\" rel=\"noopener\">USD 8.9 bn acquisition<\/a> of a 22.5% stake in Rabigh Refining and Petrochemical 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>#3- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/blackhatmea.com\/\" style=\"\" rel=\"noopener\">Black Hat MEA 2024<\/a><\/strong><strong> cybersecurity conference earned a Guinness World Record <\/strong><strong>for hosting the world\u2019s largest Capture the Flag (CTF) hackathon<\/strong>, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2215781\" style=\"\" rel=\"noopener\">SPA reports<\/a>. The three-day conference wrapped up on Tuesday, 26 November.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are CTFs?<\/strong> CTF challenges involve a virtual environment in which each participating team tries to find text strings \u2014 or flags \u2014 that are hidden across the opponent\u2019s website by exposing vulnerability points, while defending one\u2019s own against similar attacks. The objective of the challenge is to collect the largest number of flags.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>The Saudi Central B<\/strong><strong>ank (Sama) saw its net foreign assets add 1.4% y-o-y in October to <\/strong><strong>SAR <\/strong><strong>1.55 tn<\/strong>, according to recent data from Sama.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>The Kingdom\u2019s research and development (R&D) expenditure rose 17.4% y-o-y in<\/strong><strong> 2023 to<\/strong> <strong>SAR 22.6 bn in 2023<\/strong>, <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2746.pdf\" style=\"\" rel=\"noopener\">data (pdf)<\/a> from the General Authority for Statistics (Gastat) showed. The number of R&D employees increased 12.2% y-o-y last year to 49.3k, while the number of researchers rose 22.1% y-o-y to 36.8k over the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a>  <strong>#1-<\/strong> <strong>Saudi Arabia\u2019s FIFA World Cup 2034 bid received the highest rating ever<\/strong> at 4.2 out of 5 in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2742.pdf\" style=\"\" rel=\"noopener\">FIFA\u2019s Bid Evaluation Report (pdf)<\/a>, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2216224\" style=\"\" rel=\"noopener\">SPA reported<\/a> yesterday. The Kingdom\u2019s rating surpassed the joint bid by the US, Canada, and Mexico for the upcoming 2026 World Cup. Host countries for the following 2030 and 2034 world cups will be decided at the FIFA General Assembly taking place next 11 December. The story also got ink from <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/soccer\/saudi-arabias-2034-world-cup-bid-gets-higher-score-than-us-canada-mexico-2024-11-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/sport\/football\/articles\/c1545l4vnjgo\" style=\"\" rel=\"noopener\">BBC<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Al Qahtani defeats Morocco\u2019s Belkhait:<\/strong> Abdullah Al Qahtani, the first Saudi champion to partake in the MENA Professional Fighters League (PFL), came out on top in just one round against Morocco\u2019s Marwan Belkhait in the featherweight division, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2216232\" style=\"\" rel=\"noopener\">SPA reports<\/a>. Meanwhile in the Atomweight division, Saudi Arabia\u2019s Hattan Al Saif knocked out Algeria\u2019s Lilia Othmani in the second round to cap off a successful outing for the Kingdom at the PFL finals in Riyadh.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>The Saudi Under-20 Wom<\/strong><strong>en\u2019s national team scored its first victory in its debut match <\/strong><strong>against <\/strong><strong>Palestine (1-0) <\/strong>in the West Asia Football Federation U-20 Women\u2019s Championship in Jordan, according to <a target=\"_blank\" href=\"https:\/\/www.flashscore.com\/match\/nsQLUTjA\/#\/match-summary\" style=\"\" rel=\"noopener\">FlashScore<\/a>. The tournament serves as preparation for the 2026 AFC U-20 Women\u2019s Asian Cup qualifiers and marks their first competition since forming in December 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Liv Golf might be merging with Europe\u2019s DP World Tour<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-28\/saudi-backed-liv-golf-is-said-to-weigh-deal-with-dp-world-tour\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people it says are familiar with the matter. The merger will see the two circuits form a shared schedule and permit golfers to play in events hosted by both tournaments. These talks are separate from those with the PGA Tour, with agreements with both circuits still on the table, added the sources. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- A sixth place finish was enough for Ferrari squad AF Corse \u2013 Francorchamps Motors to<\/strong><strong> be crowned champions of the Fanatec GT World Challenge at the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/jeddahcircuit.com\/jeddah-gt\" style=\"\" rel=\"noopener\">SAL Jeddah GT 2024<\/a><\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.gt-world-challenge-europe.com\/news\/2886\/ferrari-celebrates-endurance-cup-glory-with-af-corse-%E2%80%93-francorchamps-motors-as-mercedes-amg-team-mann-filter-dominates-6-hours-of-jeddah?filter_team_news=0\" style=\"\" rel=\"noopener\">statement<\/a>. The final race of the season, which wrapped up yesterday, was secured by the #48 Mercedes-AMG Team Mann-Filter at the Jeddah Corniche Circuit. <\/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 Tas\u2019heel.<\/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>Our corner of the world is once again in the focus of the global press<\/strong>, with outlets across the world \u2014 including the business papers \u2014 leading with news of the surprise offensive by Syrian rebels led by former Al Qaeda affiliate Hayat Tahrir Al Sham that has taken over large chunks of Syria\u2019s largest city, Aleppo. Following the government retreat, the rebel forces are consolidating their control of the city and are pushing into the neighbouring governorate of Hama \u2014 marking the rebel forces\u2019 most significant advance since 2016 and a major challenge to President Bashar Al Assad\u2019s regime. More than 300 people \u2014 including at least 20 civilians \u2014 have been killed since the offensive began on Wednesday. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/aleppo-airport-closed-sources-say-syrian-rebels-reach-heart-city-2024-11-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/en\/news\/thp\/2024-11-30\/syrian-troops-in-aleppo-backed-by-warplanes-battle-a-shock-offensive-by-rebels?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/637a7e0a-7fcb-4536-984e-d08a51bd8fa0\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/syria-insurgents-aleppo-iran-russia-turkey-abff93e4f415ebfd827d49b1a90818e8\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/11\/30\/world\/middleeast\/syria-aleppo-rebels-control.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/middle-east\/20241130-syria-aleppo-airport-closed-as-rebel-group-reaches-heart-of-the-city\" style=\"\" rel=\"noopener\">France 24<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/czr7rkzz2gmo\" style=\"\" rel=\"noopener\">BBC<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More aid workers were killed in Gaza yesterday<\/strong> following a deadly weekend of aerial assaults on the enclave. Israel claimed that one of the aid workers was involved with the 7 October attack on Israel \u2014 a claim that Israel did not provide any evidence to support and which his family and the charity deny. (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/11\/30\/world\/middleeast\/israel-gaza-world-central-kitchen.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-says-it-killed-october-7-attacker-probes-claim-he-was-wck-employee-2024-11-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There's some hope that a ceasefire could be revived following the ceasefire in Lebanon<\/strong>, with a Hamas and Fatah delegation arriving in Cairo on Saturday for talks with Egyptian officials aimed at securing a ceasefire and planning how Gaza will be governed once the war ends, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/arab-and-world\/egypt\/2024\/11\/30\/%D9%88%D9%81%D8%AF%D8%A7%D9%86-%D9%85%D9%86-%D9%81%D8%AA%D8%AD-%D9%88%D8%AD%D9%85%D8%A7%D8%B3-%D8%A8%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9-%D9%84%D8%A8%D8%AD%D8%AB-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D9%84%D8%AD%D8%A9-%D9%88%D8%AA%D8%B1%D8%AA%D9%8A%D8%A8-%D8%A3%D9%88%D8%B6%D8%A7%D8%B9-%D8%BA%D8%B2%D8%A9-\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing an unnamed Fatah official.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE IN TRADE WAR NEWS- Trump is setting his sights on Brics nations\u2019 efforts to <\/strong><strong>challenge the dominance of the greenback<\/strong>, with the president elect threatening 100% tariffs unless they abandon plans to challenge the USD\u2019s status as the global reserve currency. \u201cThe idea that the BRICS Countries are trying to move away from the USD while we stand by and watch is OVER,\u201d Trump said in a social media <a target=\"_blank\" href=\"https:\/\/x.com\/realDonaldTrump\/status\/1863009545858998512\" style=\"\" rel=\"noopener\">post<\/a> today. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/trump-warns-brics-nations-against-replacing-us-dollar-2024-11-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/18b3d51d-1e4b-4189-bae2-c31248b6526b\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-30\/trump-demands-commitment-from-brics-nations-on-using-us-dollar?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-dollar-dominance-brics-treasury-8572985f41754fe008b98f38180945c3\" style=\"\" rel=\"noopener\">AP<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND IN BUSINESS NEWS- Asia\u2019s second-richest man Gautam Adani denied <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cceaa65f-1277-499e-b73d-5683d2d1392b\/%253cmark%253eadani%253c%2Fmark%253e-stocks-plunge-on-us-indictment\" style=\"\" rel=\"noopener\">allegations<\/a><\/strong><strong> that his conglomerate or its officials are facing charges<\/strong> under the US Foreign Corrupt Practices Act, following a federal indictment alleging a USD 250 mn bribery scheme. Adani reaffirmed his company\u2019s commitment to \u201cworld-class regulatory compliance\u201d and described the accusations as another hurdle in the group\u2019s resilience-building journey.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adani blamed \u201cvested reporting\u201d and negative narratives for the controversy<\/strong>, comparing the situation to the short-seller <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8519e472-c685-4a8e-a897-3f83412a8761\/adani-in-hot-water-%25e2%2580%2594-again\" style=\"\" rel=\"noopener\">attack by Hindenburg Research<\/a> in early 2023, which also caused turmoil for the group. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/gautam-adani-breaks-silence-us-indictment-say-his-group-is-committed-compliance-2024-11-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/30852082-e487-42f6-82ce-c61c33bd7c8f\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-30\/adani-says-no-company-officials-are-facing-us-bribery-charges?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/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 this 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 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/agrofoodjeddah.com\/\" style=\"\" rel=\"noopener\">Jeddah International Agriculture and Food Exhibition<\/a><\/strong> is scheduled for 3-5 December at Jeddah Center for Exhibition and Events.<\/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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.fifa.gg\/\" style=\"\" rel=\"noopener\">FIFAe Finals 2024<\/a><\/strong><strong> returns to Riyadh from 5-12 December at SEF Arena, BLVD Riyadh <\/strong><strong>City, <\/strong>according to a <a target=\"_blank\" href=\"https:\/\/inside.fifa.com\/about-fifa\/organisation\/media-releases\/fifae-finals-2024-rocket-league-efootball-riyadh-december\" style=\"\" rel=\"noopener\">press release<\/a>. This year marks the first time the event will feature multiple esports titles, including the FIFAe World Cup with Rocket League (5-8 December) and two FIFAe World Cups with eFootball (9-12 December) on console and mobile. With a total prize pool of USD 450k, the event will showcase talent from 18 countries. Fans can attend in person or watch live on FIFAe\u2019s Twitch channel. Register <a target=\"_blank\" href=\"https:\/\/docs.google.com\/forms\/d\/e\/1FAIpQLSfCwdiqonWQRfINAgdtoOpJPletvgrNyrqX7SSYczy6oyt7tw\/viewform\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The International Forum for Saudi Reef is scheduled for 16-18 December in the <\/strong><strong>Intercontinental Al Ahsa,<\/strong> covering sustainable agriculture, rural entrepreneurship, and technology in farming, alongside a three-day exhibition of rural practices, handicrafts, and local work. Register <a target=\"_blank\" href=\"https:\/\/saudireefforum.com\/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>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.futurehospitality.com\/\" style=\"\" rel=\"noopener\">Future Hospitality Summit<\/a><\/strong><strong> will take place between 14-16 April, 2025 <\/strong>at Mandarin Oriental Al Faisaliah hotel in Riyadh. The forum will bring together top executives and decision-makers in the hospitality sector to probe potential investments and partnerships.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The three-day <\/strong><strong><a target=\"_blank\" href=\"https:\/\/mdlbeast.com\/events\/xp-music-futures-24\" style=\"\" rel=\"noopener\">XP Music Futures Conference<\/a><\/strong><strong> kicks off in Riyadh\u2019s Jax District 3 on <\/strong><strong>Thursday, 5 December<\/strong>, bringing top music voices together for workshops, panels, and networking prospects. Tickets can be booked <a target=\"_blank\" href=\"https:\/\/nofomo.com\/events\/xp-music-futures-2024\/cart\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/black-hat-mea-cybersecurity-event\/\">Black Hat MEA Cybersecurity Event<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/dp-world-tour\/\">DP World Tour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fifa-world-cup-2034\/\">Fifa World Cup 2034<\/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\/moodys\/\">Moody\u2019s<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/opec-2\/\">OPEC+<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pga-tour\/\">PGA Tour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/public-investment-fund-pif\/\">Public Investment Fund (PIF)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/riyadh-metro\/\">Riyadh Metro<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-anti-corruption-authority-nazaha\/\">Saudi Anti Corruption Authority (Nazaha)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/us-saudi-relations\/\">US-Saudi relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92059\" 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=\"92059\">\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\">BANKING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/01\/moodys-upgrades-ratings-for-saudi-banks\/\">\r\n                            Moody\u2019s upgrades ratings for Saudi banks                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/01\/moodys-upgrades-ratings-for-saudi-banks\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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While the outlook for most banks was downgraded to stable from positive, Al Rajhi Bank\u2019s outlook remains unchanged at stable. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The banks:<\/strong> Saudi National Bank (SNB), Al Rajhi Bank, Riyad Bank, Saudi Awwal Bank (SAB), Banque Saudi Fransi (BSD), Alinma Bank, Arab National Bank (ANB), Bank AlBilad, Saudi Investment Bank (SAIB), Bank AlJazira, and Gulf International Bank (GIB).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The decision follows the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7d748790-0882-40ac-9609-842af41b0d1d\/moody%25e2%2580%2599s-upgrades-saudi-arabia%25e2%2580%2599s-sovereign-credit-rating-to-aa3\" style=\"\" rel=\"noopener\">upgrade of the Kingdom\u2019s sovereign rating<\/a><\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7d748790-0882-40ac-9609-842af41b0d1d\/moody%25e2%2580%2599s-upgrades-saudi-arabia%25e2%2580%2599s-sovereign-credit-rating-to-aa3\" style=\"\" rel=\"noopener\">to Aa3, from A1, with<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7d748790-0882-40ac-9609-842af41b0d1d\/moody%25e2%2580%2599s-upgrades-saudi-arabia%25e2%2580%2599s-sovereign-credit-rating-to-aa3\" style=\"\" rel=\"noopener\">a stable outlook<\/a>, indicating an enhanced operating environment and increased government capacity to support the banking sector. Moody's also upgraded the Kingdom\u2019s Macro Profile from \"Moderate+\" to \"Strong-.\"<\/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>ALSO-<\/strong> The Baseline Credit Assessments (BCAs) were upgraded for SNB, SAB, and GIB, while the BCAs for the remaining eight banks were reaffirmed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise, what are BCAs?<\/strong> BCAs are Moody's evaluations of a bank's standalone creditworthiness, reflecting its ability to meet financial obligations based solely on its own financial strength. These assessments consider factors such as capital adequacy, asset quality, profitability, liquidity, and risk management, excluding potential external support from governments or parent companies. BCAs provide a clear picture of a bank's intrinsic financial health.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A tale of two outlooks:<\/strong> Bank ratings could improve if better operating conditions lead to stronger financial fundamentals, such as enhanced solvency and liquidity, or if Saudi Arabia\u2019s government issuer rating of Aa3 is upgraded. Conversely, ratings may decline if rapid credit growth increases asset risks or funding challenges, a slowdown in non-oil GDP growth weakens the banks' operating environment, or the Saudi government\u2019s issuer rating is downgraded.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-rajhi-bank\/\">Al Rajhi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/banking\/\">BANKING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moodys\/\">Moody\u2019s<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-national-bank\/\">Saudi National Bank<\/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=\"92061 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"92061\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/01\/92061\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92061\" class=\"content-area-description single-story post-92061 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1836.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92062\" 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=\"92062\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/01\/a-scaled-back-military-agreement-with-the-us\/\">\r\n                            A scaled back military agreement with the US?                        <\/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\/12\/01\/a-scaled-back-military-agreement-with-the-us\/\" target=\"_blank\">\n                    Open in new tab                    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data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/01\/a-scaled-back-military-agreement-with-the-us\/572-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/572.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"572.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/572.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/572.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92062\" class=\"content-area-description single-story post-92062 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-antony-blinken tag-diplomacy tag-enterpriseam-ksa tag-gaza tag-israel 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\/12\/.af3a89f4-a267-4794-a606-bb1af8a471e6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The government is reportedly <\/strong><strong>moving toward a limited military agreement<\/strong> <strong>with the US,<\/strong> shifting away from earlier talks about <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4d43f6ce-8ecc-41b8-8135-0da085f9952c\/no-palestinian-state%3F-no%253cmark%253e-normalization%253c%2Fmark%253e-with-israel,-foreign-ministry-says\" style=\"\" rel=\"noopener\">a full-scale defense treaty with Washington<\/a> in exchange for normalizing relations with Israel, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/saudi-arabia-abandons-pursuit-us-defence-treaty-over-israel-stalemate-2024-11-29\/\" style=\"\" rel=\"noopener\">Reuters reports<\/a> citing two Saudi and four Western officials. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But, why?<\/strong> Crown Prince Mohammed bin Salman has reportedly (once again) made Saudi recognition of Israel contingent upon tangible steps toward the establishment of a Palestinian state, amid rising public outrage across the Middle East over Israel's military actions in Gaza, the newswire added, citing two Saudi and three Western sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Security assurances:<\/strong> The agreement would reportedly seek to foster Saudi investment in advanced technologies, particularly in drone defense. In return, the US would enhance its presence in Riyadh, offering training, logistical support, and cyber security assistance, while potentially deploying a Patriot missile battalion for missile defense and integrated deterrence. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\"Saudi Arabia will get a security [<\/strong><strong>agreement] <\/strong><strong>which will allow more military cooperation <\/strong><strong>and <\/strong><strong>sales of US weapons<\/strong>, but not a defense treaty similar to that of Japan or South Korea as initially sought,\" said Abdelaziz al-Sagher, head of the Gulf Research Institute think-tank in Saudi Arabia.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/antony-blinken\/\">Antony Blinken<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92064\" 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=\"92064\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/01\/cma-introduces-amendments-to-share-buyback-treasury-share-sale-rules\/\">\r\n                            CMA introduces amendments to share buyback + treasury share sale rules                        <\/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\/12\/01\/cma-introduces-amendments-to-share-buyback-treasury-share-sale-rules\/\" 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\/12\/01\/cma-introduces-amendments-to-share-buyback-treasury-share-sale-rules\/')\">\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\/12\/01\/cma-introduces-amendments-to-share-buyback-treasury-share-sale-rules\/\">\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=CMA introduces amendments to share buyback + treasury share sale rules&url=https:\/\/enterpriseam.com\/ksa\/2024\/12\/01\/cma-introduces-amendments-to-share-buyback-treasury-share-sale-rules\/\">\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\/12\/01\/cma-introduces-amendments-to-share-buyback-treasury-share-sale-rules\/&title=CMA introduces amendments to share buyback + treasury share sale rules\">\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=CMA+introduces+amendments+to+share+buyback+%2B+treasury+share+sale+rules+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F12%2F01%2Fcma-introduces-amendments-to-share-buyback-treasury-share-sale-rules%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\/12\/01\/cma-introduces-amendments-to-share-buyback-treasury-share-sale-rules\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2077.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92065\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/01\/cma-introduces-amendments-to-share-buyback-treasury-share-sale-rules\/2077-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2077.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2077.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2077.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2077.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92064\" class=\"content-area-description single-story post-92064 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-capital-market-authority tag-capital-markets tag-enterpriseam-ksa tag-regulation-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\/12\/.e06dc5cc-c52b-4ed8-a6be-c905b7904b84.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Listed companies\u2019 share buyback and treasury share sale operations now <\/strong><strong>have<\/strong><strong> greater leeway in terms of volumes and timelines<\/strong> after the Capital Market Authority (CMA) approved amendments to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2738.pdf\" style=\"\" rel=\"noopener\">The Implementing Regulation of the Companies Law for Listed Joint Stock Companies (pdf)<\/a>, it said in <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/NEWS\/Pages\/CMA_N_3681.aspx\" style=\"\" rel=\"noopener\">a statement<\/a>. The changes look to boost capital market efficiency and enhance flexibility by lifting restrictions to listed firms engaging in share buyback and sale operations. The amendments and updated regulations will come into effect once they are published. <\/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>ICYMI:<\/strong> The CMA put up draft amendments to the regs of the Companies Law for Listed Joint Stock Companies for feedback on the Unified Electronic Platform for Consulting the Public and Government Entities (Public Consultation Platform) in early June. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What has changed?<\/strong> Listed companies now have 18 months to execute shareholder-approved share buybacks, up from a previous 12-month limit. Firms can now also buy back or sell treasury shares at up to 25% of the previous five trading days\u2019 average daily volumes. The previous regs capped volumes for share buybacks to amounts approved by the general assembly, while treasury share sale volumes were limited to an amount that had been approved by the company\u2019s board and did not conflict with shareholder decisions regarding the buyback of those shares. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-market-authority\/\">Capital Market Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/regulation-watch\/\">REGULATION 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=\"92066\" 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=\"92066\">\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\">TECHNOLOGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/01\/saudi-accounted-for-16-of-menas-ddos-cyberattacks-in-3q-stormwall\/\">\r\n                            Saudi Arabia accounted for 16% of MENA\u2019s DDoS cyberattacks in 3Q -StormWall                        <\/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\/12\/01\/saudi-accounted-for-16-of-menas-ddos-cyberattacks-in-3q-stormwall\/\" 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\/12\/01\/saudi-accounted-for-16-of-menas-ddos-cyberattacks-in-3q-stormwall\/')\">\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\/12\/01\/saudi-accounted-for-16-of-menas-ddos-cyberattacks-in-3q-stormwall\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Saudi accounted for 16% of MENA\u2019s DDoS cyberattacks in 3Q -StormWall&url=https:\/\/enterpriseam.com\/ksa\/2024\/12\/01\/saudi-accounted-for-16-of-menas-ddos-cyberattacks-in-3q-stormwall\/\">\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\/12\/01\/saudi-accounted-for-16-of-menas-ddos-cyberattacks-in-3q-stormwall\/&title=Saudi accounted for 16% of MENA\u2019s DDoS cyberattacks in 3Q -StormWall\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Saudi+accounted+for+16%25+of+MENA%E2%80%99s+DDoS+cyberattacks+in+3Q+-StormWall+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F12%2F01%2Fsaudi-accounted-for-16-of-menas-ddos-cyberattacks-in-3q-stormwall%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\/12\/01\/saudi-accounted-for-16-of-menas-ddos-cyberattacks-in-3q-stormwall\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/552.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92067\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/01\/saudi-accounted-for-16-of-menas-ddos-cyberattacks-in-3q-stormwall\/552-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/552.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"552.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/552.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/552.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92066\" class=\"content-area-description single-story post-92066 post type-post status-publish format-standard has-post-thumbnail hentry category-technology tag-cybersecurity tag-enterpriseam-ksa tag-technology 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\/12\/.8f48c266-56f9-4779-b5b6-e4043ab10fda.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Distributed Denial of Service (DDoS) cyberattacks in the Kingdom <\/strong><strong>accounted for <\/strong><strong>16%<\/strong><strong> of the total incidents across MENA in 3Q<\/strong>, up from 14% the previous quarter, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2741.pdf\" style=\"\" rel=\"noopener\">a report (pdf)<\/a> by Slovakia-based cybersecurity provider StormWall. The rise in share of DDoS cyberattacks makes Saudi Arabia the second-most targeted country in the region, following the UAE, which took 31% of attacks. Israel rounded out the top three with 14% of incidents in the region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The firm pinned the increase on the Kingdom\u2019s growing economic footprint and <\/strong><strong>geopolitics<\/strong>, with attackers targeting digital infrastructure in Saudi Arabia and across the region either to extort payments from affected businesses or as part of \u201chacktivist\u201d political statements. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>A DDoS attack can be likened to a virtual traffic jam, whereby malicious actors overwhelm a network, server, or website with traffic making it unavailable to users. This flood of data is typically generated by a network of compromised devices, known as botnets, which can include anything from computers to IoT devices such as smart thermostats or Wi-Fi routers that have been infected with malware. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Kingdom saw the largest number of hacktivist attacks targeting government <\/strong><strong>services<\/strong>, with their volume up 80% q-o-q, as pro-Israeli hacker groups zeroed-in on Saudi after the country\u2019s leadership called for a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0af2a763-7c55-41ae-9db0-90a25341de04\/arab-islamic-summit-calls-for-gaza-%2B-lebanon-ceasefires\" style=\"\" rel=\"noopener\">multinational coalition to back Palestinian statehood<\/a>. Pro-Palestinian groups hit back, targeting media and financial sector organizations in Israel and the UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zooming out: <\/strong>DDoS attacks in the MENA region climbed by 238% y-o-y in 3Q, with botnet size swelling four times over the year to an average of 28k devices. These expanded networks led to more potent strikes, including a 1.5 tn bits per second (Tbps) assault on an unnamed UAE-based bank that involved 30k hijacked devices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The region\u2019s financial services and payments sector continued to bear the brunt of<\/strong><strong> attacks<\/strong>, with incidents up 284% y-o-y and accounting for 42% of all attacks, the report said. Attacks on entertainment followed, growing 237% y-o-y and representing 21% of MENA\u2019s total as cybercriminals targeted events and gaming platforms, disrupting everything from live streams to ticket sales. Meanwhile, the government sector saw its attacks increase 162% y-o-y, representing 10% of regional attacks in the third quarter. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cybersecurity\/\">CYBERSECURITY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/technology\/\">Technology<\/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=\"92068\" 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=\"92068\">\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\/12\/01\/cipher-secures-sar-50-mn-pre-ipo-funding-from-impact46\/\">\r\n                            Cipher secures SAR 50 mn pre-IPO funding from Impact46                        <\/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\/12\/01\/cipher-secures-sar-50-mn-pre-ipo-funding-from-impact46\/\" 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 investment was secured during the Black Hat MEA 2024 cybersecurity conference in Riyadh. No additional information was disclosed on whether the investment was debt or equity-based. <\/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>About Cipher:<\/strong> Established in 2018 by Thamer ALDhafiri (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/thameraldhafiri\/\" style=\"\" rel=\"noopener\">Linkedin<\/a>), Cipher specializes in cybersecurity solutions and provides a group of related services including risk assessment, penetration testing, security awareness training, threat detection, rapid response and recovery support to enhance business continuity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> IN OTHER STARTUP NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Flat6Labs invested a total of SAR 5 mn in 10 Saudi startups in the fourth cycle of its<\/strong> <strong>Riyadh Seed Program<\/strong>, with each startup receiving SAR 500k in direct investments, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/11\/flat6labs-invests-10-saudi-startups-fourth-cohort-riyadh-seed-programme\" style=\"\" rel=\"noopener\">press release<\/a>. The fund has now backed 41 Saudi startups since its inception in 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the program: <\/strong>Startups taking part in the program undergo a four-month accelerator to refine market strategies, scale operations, and secure partnerships, while also receiving a cashflow injection of at least SAR 500k. The program is managed by Flat6Labs and is supported by the Startup Seed Fund which is backed by investments from the Saudi Venture Capital Company, Jada Fund of Funds, and Riyadh Valley Company. Additional support is provided by the National Technology Development Program\u2019s Empowering Accelerators initiative.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meet the startups: <\/strong>The latest cohort features <a target=\"_blank\" href=\"https:\/\/camion.com.sa\/\" style=\"\" rel=\"noopener\">CAMION<\/a> (freight management), <a target=\"_blank\" href=\"https:\/\/www.instagram.com\/colada_app\/?hl=en\" style=\"\" rel=\"noopener\">Colada<\/a> (consumer tech for food ordering), <a target=\"_blank\" href=\"https:\/\/devsy.tech\/\" style=\"\" rel=\"noopener\">Devsy<\/a> (AI-driven talent acquisition), <a target=\"_blank\" href=\"https:\/\/dphish.com\/\" style=\"\" rel=\"noopener\">dPhish<\/a> (anti-phishing cybersecurity), <a target=\"_blank\" href=\"https:\/\/hollat.net\/\" style=\"\" rel=\"noopener\">Hollat<\/a> (CRM and cybersecurity), <a target=\"_blank\" href=\"https:\/\/web.mrrha.app\/account\/login\" style=\"\" rel=\"noopener\">Mrrha<\/a> (community-based online marketplace), <a target=\"_blank\" href=\"https:\/\/fezlee.com\/en\" style=\"\" rel=\"noopener\">Fezlee<\/a> (shipping aggregator), <a target=\"_blank\" href=\"https:\/\/cyberani.sa\/\" style=\"\" rel=\"noopener\">Cyberni<\/a> (cybersecurity SaaS), <a target=\"_blank\" href=\"https:\/\/www.units-sa.com\/\" style=\"\" rel=\"noopener\">Units<\/a> (warehousing solutions), and <a target=\"_blank\" href=\"https:\/\/zofa.app\/\" style=\"\" rel=\"noopener\">Zofa<\/a> (clinic management).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/black-hat\/\">Black Hat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cipher\/\">Cipher<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cybersecurity\/\">CYBERSECURITY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/impact46\/\">Impact46<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startups\/\">Startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2750.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2750.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2750.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92069\" class=\"content-area-description single-story post-92069 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-efg-hermes tag-emaar tag-enterpriseam-ksa tag-general-authority-for-statistics-gastat tag-maarif-education tag-marafiq tag-soudah-development-company 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\/12\/.1780bc91-3098-409e-a536-627703217416.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\">EDUCATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Our friends at <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.efghldg.com\/\" style=\"\" rel=\"noopener\">EFG Hermes<\/a><\/strong><strong> advised <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.maarif.sa\/en\" style=\"\" rel=\"noopener\">Maarif Education<\/a><\/strong><strong> on its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/252bbdc8-2c31-4df4-b4f7-3e3c999f04e8\" style=\"\" rel=\"noopener\">takeover<\/a><\/strong> <strong> of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ikschools.com\/en\" style=\"\" rel=\"noopener\">Ibn<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/ikschools.com\/en\" style=\"\" rel=\"noopener\">Khaldoun<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/ikschools.com\/en\" style=\"\" rel=\"noopener\">Education<\/a><\/strong>, a transaction set to make Maarif the largest K-12 school provider in the Kingdom by revenue and geographic reach, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2731.pdf\" style=\"\" rel=\"noopener\">a press release (pdf)<\/a>. The investment bank acted as the sole financial advisor on the transaction. While the transaction\u2019s value wasn\u2019t disclosed, EFG said this is one of the biggest investments in the domestic education sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The acquisition includes eight Riyadh-based campuses catering to 13k students, pushing Maarif\u2019s total enrollments to over 36k nationwide.<\/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\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Marafiq to swap liquid fuel for nat<\/strong><strong>ural gas at its Yanbu 2 plant:<\/strong> The state-owned Power and Water Utility Company for Jubail and Yanbu (Marafiq) tapped South Korean energy solutions firm <a target=\"_blank\" href=\"https:\/\/www.doosan.com\/\" style=\"\" rel=\"noopener\">Doosan Enerbility<\/a> to convert its liquid fuel-powered Yanbu 2 plant to use natural gas as fuel, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83897&anCat=1&cs=2083&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The three-year contract comes under the government\u2019s Liquid Fuel Displacement Program, which aims to replace 1 mn barrels of liquid fuels per day across the agriculture, manufacturing, and utilities sectors by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Hyundai to set up manufacturing + assembly plant in King Abdullah Economic City:<\/strong> Hyundai Motor Manufacturing Middle East signed a SAR 175.7 mn, 20-year ground lease agreement with Emaar the Economic City to set up a vehicles and auto parts manufacturing and assembly plant in the Special Economic Zone of King Abdullah Economic City\u2019s Industrial Valley, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83903&anCat=1&cs=4220&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO<\/strong><strong>- Mena Tyre Company signed a 20-year land lease agreement with Emaar worth <\/strong><strong>SAR 88.7 mn to set up a tire manufacturing plant <\/strong>in the same zone, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83902&anCat=1&cs=4220&locale=en\" style=\"\" rel=\"noopener\">separate disclosure<\/a>. The Public Investment Fund owns stakes in all three parties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.arabianmills.com\/en\/\" style=\"\" rel=\"noopener\">Arabian Mills<\/a><\/strong> <strong> ramped up production capacity at three major branches by 11.7% <\/strong>after receiving the green light from the General Food Security Authority (GFSA) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ac494016-0fa7-4460-b031-37d0714a029b\/diriyah-breaks-ground-on-seven-hotels\" style=\"\" rel=\"noopener\">last week<\/a>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83911&anCat=1&cs=2285&locale=en\" style=\"\" rel=\"noopener\">filing to Tadawul<\/a>. The Riyadh branch boosted its annual flour output to 854.3k tons, the Jizan branch increased annual production to 402k tons, and the Hail branch raised output to 201k tons a year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The expansion comes as Saudi Arabia\u2019s flour mills gear up to tap global markets under a new GFSA policy, allowing licensed companies to export surplus production once local needs are met. Under the new policy, flour milling firms must reimburse the government for wheat subsidies on exported quantities, ensuring domestic supply remains prioritized.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TOURISM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Soudah Development tapped US infrastructure consulting firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/aecom.com\/\" style=\"\" rel=\"noopener\">AECOM<\/a><\/strong> to carry out the architectural and engineering design for the first phase of the Soudah Peaks project, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2216442\" style=\"\" rel=\"noopener\">SPA reported<\/a> yesterday. The designs will incorporate sustainable infrastructure solutions while maintaining the region\u2019s natural and cultural heritage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the project: <\/strong>Launched by Crown Prince Mohammed bin Salman <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/69eade3910u\" style=\"\" rel=\"noopener\">last year<\/a>, the tourism development is situated 3k meters above sea level on the Kingdom\u2019s highest peak, extending from the region of Soudah to parts of Rijal Almaa. It aims to contribute SAR 29 bn to the Kingdom\u2019s cumulative GDP. Soudah Development is a wholly-owned unit of the Public Investment Fund.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/emaar\/\">Emaar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/general-authority-for-statistics-gastat\/\">General Authority for Statistics (Gastat)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/maarif-education\/\">Maarif Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/marafiq\/\">Marafiq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/soudah-development-company\/\">Soudah Development Company<\/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=\"92071\" 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=\"92071\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/01\/us-regulators-greenlight-round-the-clock-stock-exchange\/\">\r\n                            US regulators greenlight round-the-clock stock exchange                        <\/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\/12\/01\/us-regulators-greenlight-round-the-clock-stock-exchange\/\" 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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Initially running during standard hours, the exchange plans to extend trading to overnight sessions (8pm-4am, Sunday through Thursday) once infrastructure and funding requirements are met.<\/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>What this means: <\/strong>The approval requires 24 Exchange to work with other exchanges to integrate into the consolidated market price feed \u2014 the \u201ctape\u201d \u2014 ensuring prices are public and official. This step allows the startup to operate in the \u201clit\u201d market during its overnight sessions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sign of the times? <\/strong>The SEC\u2019s decision, following a previously rejected application in 2023, reflects a broader shift in the industry. The New York Stock Exchange also <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-25\/nyse-to-extend-trading-to-22-hours-a-day-on-arca-exchange\" style=\"\" rel=\"noopener\">recently filed<\/a> to extend its trading hours to 22 hours per day, signaling a growing interest in accommodating investors across global time zones.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move addresses growing demand from retail investors for after-hours trading<\/strong>, inspired by the 24\/7 accessibility of cryptocurrency markets. Retail brokers like Robinhood already process after-hours stock trades in private \u201cdark pools,\u201d where transactions lack broader market visibility. \u201cTraders are most at risk when the market is closed in their geographic location. (24 Exchange) will seek to alleviate this problem by facilitating around-the-clock US equities trading,\u201d the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fc41c6fe-2a34-48fd-ac94-68bd08c5bdff\" style=\"\" rel=\"noopener\">Financial Times<\/a> cites 24 Exchange founder Dmitri Galinov as saying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But not everyone is on board:<\/strong> Critics warn of potential volatility during low-volume overnight sessions, which could result in exaggerated price swings. \u201cRetail investors trading during an overnight session will be trading in a market where there are few buyers and sellers, and where prices will be more volatile and less favorable than during normal hours,\u201d Benjamin Schiffrin, consumer advocacy group Better Markets\u2019s director of securities policy, said in a statement, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-28\/first-around-the-clock-us-stock-exchange-wins-sec-approval\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. <\/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\">11,641<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: -2.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,460<\/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: -5.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,395<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +23.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">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-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,242<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3% (YTD: +21.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9235<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: -3.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4847<\/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: +19.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6032<\/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: +26.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8287<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +7.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4804<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.0% (YTD: +6.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 71.84<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.36<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+5.0%<\/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 2,681.00<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 96,807.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +129.0%)<\/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 0.4% <strong>on Thursday <\/strong>on turnover of SAR 6.0 bn. The index is down 2.7% 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> Tamkeen (+18.0%), Zamil Indust (+8.7%) and Fakeeh Care (+5.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Saudi Cable (-6.9%), Enaya (-4.3%) and Sasco (-4.2%).<\/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 0.8% <strong>on Thursday <\/strong>on turnover of SAR 163.3 mn. The index is up 23.9% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Purity (+11.8%), Quara (+5.8%) and Miral (+5.8%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Paper Home (-8.5%), Alrashid Industrial (-6.1%) and Horizon Food (-5.6%)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92073\" 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\/12\/01\/92073\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92073\" class=\"content-area-description single-story post-92073 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\">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): 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:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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>3-5 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/agrofoodjeddah.com\/\" style=\"\">Jeddah International Agriculture and Food Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Jeddah Exhibition and Convention Center, 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;\">4 December (Wednesday): Final allocation 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 style=\"font-weight:400;\">4 December (Wednesday): Banan Real Estate shares halt trading on Nomu. <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>4-5 December (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1294.aspx\" style=\"\">Zakat, Tax and Customs Conference,<\/a><\/span><span style=\"font-weight:400;\"> Riyadh. <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-10 December (Wednesday-Tuesday): Bookbuilding and institutional offering for Almoosa Health\u2019s IPO. <br \/><\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>5 December (Thursday): <\/span><span>Opec+<\/span><span> Joint Ministerial Monitoring Committee meeting. <\/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;\">5-7 December (Thursday-Saturday): World Sailing Women\u2019s Match Racing World Championship, 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>5-8 December (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/mdlbeast.com\/events\/xp-music-futures-24\/xp-2024\" style=\"\">XP Music Futures 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>5-12 (Thursday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.fifa.gg\/\" style=\"\">FIFAe Finals 2024<\/a><\/span><span style=\"font-weight:400;\">, SEF Arena, BLVD Riyadh City.<\/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>15-17 December (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.miceaffairs.com\/details\/621\" style=\"\">The International MICE Summit (IMS24)<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-19 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>16-18 December (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudireefforum.com\/en\" style=\"\">The International Forum for Saudi Reef<\/a><\/span><span style=\"font-weight:400;\">, Intercontinental Al Ahsa. <\/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 style=\"font-weight:400;\">23-25 December (Monday-Wednesday): Retail offering for Almoosa Health\u2019s Tadawul IPO. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-26 December (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/aqaratexpo.com\/en\/home\/\" style=\"\">Aqarat Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 December (Sunday): Final allocation for Almoosa Health\u2019s Tadawul IPO. <\/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>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 February (Wednesday): <\/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=83735&anCat=1&cs=4339&locale=en\" style=\"\">Derayah REIT 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>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>14-16 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futurehospitality.com\/\" style=\"\">Future Hospitality Summit<\/a><\/span><span style=\"font-weight:400;\">, Mandarin Oriental Al Faisaliah, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-24 April (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudifoodexpo.com\/\" style=\"\">Saudi Food Exhibition and 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>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\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>Riyadh moving toward limited military agreement with the US? Cipher secures SAR 50 mn pre-IPO funding from Impact46<\/p>\n","protected":false},"featured_media":92056,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-92055","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d0edcee5-4177-4100-bc72-dfaf00ecfd14","teaser":"Riyadh moving toward limited military agreement with the US? Cipher secures SAR 50 mn pre-IPO funding from Impact46","photo_url":"https:\/\/ent.news\/2024\/8\/2573.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>Moody\u2019s upgrades ratings for Saudi banks - 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\/moodys-upgrades-ratings-for-saudi-banks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Moody\u2019s upgrades ratings for Saudi banks\" \/>\n<meta property=\"og:description\" content=\"Riyadh moving toward limited military agreement with the US? 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