{"id":92146,"date":"2024-12-03T00:00:00","date_gmt":"2024-12-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=92146"},"modified":"2025-12-14T19:41:03","modified_gmt":"2025-12-14T19:41:03","slug":"aramco-closes-minority-stake-acquisition-in-horse-powertrain","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/aramco-closes-minority-stake-acquisition-in-horse-powertrain\/","title":{"rendered":"Aramco closes minority stake acquisition in Horse Powertrain"},"content":{"rendered":"<section id=\"92148\" 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=\"92148\">\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\/03\/united-international-holding-begins-trading-on-tadawul-today\/\">\r\n                            THIS MORNING: United International Holding begins trading on Tadawul today                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/united-international-holding-begins-trading-on-tadawul-today\/\" target=\"_blank\">\n                    Open in 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92149\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/united-international-holding-begins-trading-on-tadawul-today\/1730-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1730.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1730.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1730.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1730.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92148\" class=\"content-area-description single-story post-92148 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-egyptian-saudi-business-council tag-enterpriseam-ksa tag-green-coast tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.b127fe48-c9f1-4c31-9473-4133e5f52216.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends.<\/strong> Today is shaping up to be a rather busy day, with stories to keep an eye on including United International Holding\u2019s Tadawul debut and French President Emmanuel Macron\u2019s state visit to Riyadh. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT FIRST- T<\/strong><strong>he PIF reportedly trimmed its stake in <\/strong><strong>Nintendo to 5.3%<\/strong> <strong>from 6.3% as of <\/strong><strong>26 November<\/strong>, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financing-and-investment\/62387\/%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%AF%D9%8A-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D9%8A%D9%82%D9%84%D8%B5-%D8%AD%D8%B5%D8%AA%D9%87-%D9%85%D8%AC%D8%AF%D8%AF%D8%A7-%D9%81%D9%8A-%D9%86%D9%8A%D9%86%D8%AA%D9%86%D8%AF%D9%88-%D8%A7%D9%84%D9%8A%D8%A7%D8%A8%D8%A7%D9%86%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> and <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1773255\" style=\"\" rel=\"noopener\">Argaam<\/a> reported citing Reuters and Bloomberg. EnterpriseAM was unable to confirm the reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The Public Investment Fund (PIF) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a72b7140-1793-432b-ab5c-2f2d35870ca9\/pif-offloads-more-nintendo-shares,-bringing-its-stake-to-6.3%2525\" style=\"\" rel=\"noopener\">trimmed its stake<\/a> last month in the Japanese gaming giant to 6.3% from 7.5%, as part of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c27f3cb8-827a-4b6e-8439-9d3d4793117f\/pif-sells-down%253cmark%253e-nintendo%253c%2Fmark%253e-stake\" style=\"\" rel=\"noopener\">series<\/a> of similar moves that saw the fund pare down its holdings in Nintendo. PIF \u2014 which is tasked with driving the country\u2019s diversification plans \u2014 has recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f86b6c50-58ae-4b6a-bbe2-62fd4b6a41ec\/everything-you-need-to-know-from-day-one-of-fii-2024\" style=\"\" rel=\"noopener\">shifted its focus<\/a> towards local investments as the Kingdom\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6d430a9d-262b-4071-b5df-53e4a501bc17\/saudi-arabia-records%253cmark%253e-budget%253c%2Fmark%253e-deficit-in-3q-2024\" style=\"\" rel=\"noopener\">widening budget deficit<\/a> continues to restrict funds.<\/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>Macron in town: <\/strong>French President Emmanuel Macron touched down in Riyadh yesterday for a <a target=\"_blank\" href=\"https:\/\/www.elysee.fr\/en\/diary-december-2024\" style=\"\" rel=\"noopener\">two-day<\/a> state visit, with defense contracts, investments, and regional geopolitics topping his agenda, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-02\/macron-heads-to-riyadh-with-defense-deals-mideast-on-agenda\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. This marks the French head of state\u2019s first visit to the Kingdom since 2018. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi and France agreed to set up a new Strategic Partnership Council during the first<\/strong><strong> day of Macron\u2019s visit<\/strong>, after the president met with Crown Prince Mohammed bin Salman, according to <a target=\"_blank\" href=\"https:\/\/spa.gov.sa\/en\/N2217932\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Coming up next on Macron\u2019s agenda:<\/strong> The sale of French-made Rafale fighter jets, contracts in the Saudi tourism and energy sectors, and funds for French startups are likely to be key areas of focus during the trip, Bloomberg says. Energy cooperation will also be in focus, with discussions likely to center around the Kingdom\u2019s nuclear ambitions and inroads for French firms such as TotalEnergies and \u00c9lectricit\u00e9 de France which are looking for domestic contracts including an arrangement to build out a hydroelectric plant to power NEOM, the business information service reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, the Crown Prince is also expected to lobby Macron to push for recognition<\/strong><strong> for a Palestinian state<\/strong> while France could seek to leverage Riyadh\u2019s close relationship with Opec+ partner Moscow to end the war in Ukraine. <\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- <\/strong><strong>Shares of <\/strong><strong>United International Holding (UIHC) \u2014 which owns and operates<\/strong><strong> Tas\u2019heel <\/strong><strong>\u2014 will begin trading on Tadawul<\/strong><strong> today<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details\/!ut\/p\/z1\/vVJNc4IwEP0tPfTIZPnGY_qFOlhFBIULEyHYtBBQU-nPb9Qe1PGjvTSHzL7M27zdfYsSNEMJJxu2IILVnJQSx4mVmtgCrevA0J14KviR7TmRP1GhZ6AIJSjJuGjEG4oFyUn7WaaU38OaKD9wFzcrltE14TnjOZXR7pHTdh9UZPVBxR5m4gAqGmiGKq-SrQXji61aWWekpCimfIuajOUoVvUip_Y8U4rMVBUDjEKZO4amEK3IOratOXNC0fS4GWfgWuC_Yn-o2Sa4EaDkeq8n-RCMTPBfRgPdgzG4YP0uHy4cfFM_kB3H8g_7IglLkQ2jLQp5vaqkf8EfRyTZ08dB6ofPY6l0MOkuoP6t-uSysPflMsFyI2ou6JdAs39Yiem26sPKhrhjS2P6D27Pw7pj2aeEM84fE85YuyNc8a6pKkevlDCcte2ExumTVwQ9hu--AU26yeU!\/dz\/d5\/L2dBISEvZ0FBIS9nQSEh\/?locale=en\" style=\"\" rel=\"noopener\">a statement<\/a>. Trading on the first three days will be subject to a price fluctuation limit of \u00b130%, after which the daily limit will be capped at \u00b110%, and a static price fluctuation limit of \u00b110% will be removed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>Institutional investors booked 90% of the IPO last month in an offering that was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5b38d8dc-39ce-4488-91f7-f2471a55fefb\" style=\"\" rel=\"noopener\">132x oversubscribed<\/a> and sold out within minutes of opening. Strong investor demand priced UIHC\u2019s shares at the top of the guidance range at SAR 132 apiece, giving it a market cap of SAR 3.3 bn upon listing and generating SAR 990 mn in proceeds. Meanwhile, the remaining 10% offered in the retail tranche saw strong demand with a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f38af1a7-8349-40de-bb0a-ba811225f541\" style=\"\" rel=\"noopener\">9.1x oversubscription rate<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Flag carrier <\/strong><strong>Iran Air resumes its flights from Mashhad to Dammam today<\/strong>, following a nine-year hiatus, according to the state-owned <a target=\"_blank\" href=\"https:\/\/en.irna.ir\/news\/85677957\/Iran-will-resume-weekly-flights-from-Mashhad-to-Dammam\" style=\"\" rel=\"noopener\">Islamic Republic News Agency<\/a>. The route will operate on Tuesdays and Thursdays.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Riyad<\/strong><strong> Bank\u2019s PMI report for November is set to be released today.<\/strong> Non-oil business activity <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/70ca9c96-f9bd-49fe-bbbc-7b9e4e817928\/saudi-arabia%25e2%2580%2599s%253cmark%253e-pmi%253c%2Fmark%253e-hits-a-high-in-october\" style=\"\" rel=\"noopener\">hit a six-month high in October<\/a>, with the seasonally-adjusted headline PMI figure coming in at 56.9 during the month. <\/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><strong>Riyadh<\/strong> is getting a windy day with a high of 22\u00b0C and a low of 11\u00b0C. Expect thunderstorms in <strong>Makkah<\/strong>, with temperatures peaking at 33\u00b0C and dropping to 22\u00b0C. Meanwhile, <strong>Dammam<\/strong> will be cloudy, with a high of 23\u00b0C and a low of 13\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HAPPENING TOMORROW-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>Shares of Multi Business Group (MBG) will start trading on Tadawul's parallel <\/strong><strong>market Nomu tomorrow<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details?1dmy&urile=wcm:path:\/Tadawul_en\/SA-Tadawul\/SA-PricesAndIndeces\/SA-News\/SA-MarketNews\/CT-marketnews-20241202Listing2\" style=\"\" rel=\"noopener\">statement<\/a>. Trading on the first three days will be subject to a price fluctuation limit of \u00b130%, after which the daily limit will be capped at \u00b110%, and a static price fluctuation limit of \u00b110% will be removed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The local contractor priced its IPO at the top of the guidance range at SAR 15 apiece, after the 25% stake offering was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/54bf1e37-47e1-40d5-8a78-9408b39905d3\/%253cmark%253emulti%253c%2Fmark%253e%253cmark%253e-business%253c%2Fmark%253e%253cmark%253e-group%253c%2Fmark%253e-prices-its-nomu-ipo-at-sar-15-apiece\" style=\"\" rel=\"noopener\">2.65x oversubscribed<\/a>. The pricing sees MBG raising SAR 45 mn in proceeds and gives the company a market cap of SAR 225 mn at listing.<\/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>#1- Runaway foreign workers now have a 60-day grace period ending on 29 <\/strong><strong>January to <\/strong><strong>rectify their status <\/strong>by finding a new employer via the Human Resources and Social Development Ministry\u2019s <a target=\"_blank\" href=\"https:\/\/qiwa.sa\/en\" style=\"\" rel=\"noopener\">Qiwa platform<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.saudigazette.com.sa\/article\/647517\/SAUDI-ARABIA\/Saudi-Arabia-grants-60-day-grace-period-for-runaway-workers-to-correct-their-status\" style=\"\" rel=\"noopener\">Saudi Gazette<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Private sector companies subject to the Personal Data Protection Law are required to<\/strong> <strong>register on<\/strong><strong> the National Data Governance Platform via <\/strong><strong>an Absher account<\/strong>, the Saudi Data and AI Authority said, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2217412\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>. Register <a target=\"_blank\" href=\"https:\/\/dgp.sdaia.gov.sa\/wps\/portal\/pdp\/Registration\/private\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt4\"><\/a> <strong>#1-<\/strong> <strong>Companies can now submit their expression of interest for the <\/strong><strong>construction of the <\/strong><strong>new <\/strong><strong><a target=\"_blank\" href=\"https:\/\/investors.ncp.gov.sa\/home\/project\/details\/a491f4d1-d604-4885-8094-3e5c3cd9ca25\" style=\"\" rel=\"noopener\">Taif International<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/investors.ncp.gov.sa\/home\/project\/details\/a491f4d1-d604-4885-8094-3e5c3cd9ca25\" style=\"\" rel=\"noopener\">Airport project<\/a><\/strong>, the <a target=\"_blank\" href=\"https:\/\/x.com\/MATARAT_KSA\/status\/1863605586060861897\" style=\"\" rel=\"noopener\">Airports Holding Company said<\/a>. The deadline for submissions is until 3pm on 10 January, 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The project, which is set to have an initial capacity to accommodate 2.5 mn passengers, will be executed under a 30-year, build-transfer-operate contract. The contract covers the construction of a runway, taxiways, an apron for aircraft stands, and a passenger terminal, among other facilities. The airport is scheduled to start operating by 2030.<\/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- A group of Egyptian engineering firms are eyeing a combined SAR 500 mn foray into<\/strong> <strong>Saudi Arabia<\/strong>, with plans to establish factories in the Kingdom in partnership with local investors, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4375772\/%D8%AE%D8%A7%D8%B5-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%AE%D8%B7%D8%B7-%D9%84%D8%B6%D8%AE-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A8%D9%82%D9%8A%D9%85%D8%A9-500-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%B1%D9%8A%D8%A7%D9%84-%D9%81%D9%8A-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Mubasher<\/a> quotes Egyptian-Saudi Business Council Member Mohamed Genedy as saying. The move comes as the Egyptian companies look for ways to sell their products in the GCC markets while having to meet strict quality standards, Genedy explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Dubai-based conglomerate <\/strong><strong><a target=\"_blank\" href=\"https:\/\/greencoast.ae\/\" style=\"\" rel=\"noopener\">Green Coast<\/a><\/strong><strong> plans to set up a USD 5 mn packaging <\/strong><strong>factory in <\/strong><strong>Saudi Arabia in 1Q 2025<\/strong>, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/62343\/%D8%BA%D8%B1%D9%8A%D9%86-%D9%83%D9%88%D8%B3%D8%AA-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A%D8%A9-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-50-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> quotes Executive Director Mohammed Abdulghaffar Hussain as saying. The company also plans to invest USD 200 mn in the Kingdom\u2019s renewable energy sector over five years, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Domestic loans to the private sector hit a record high in October, with Saudi banks<\/strong> <strong>handing out<\/strong><strong> SAR 2.8 tn<\/strong>, up 12% y-o-y, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4375945\/%D9%86%D9%85%D9%88-%D8%A5%D9%82%D8%B1%D8%A7%D8%B6-%D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%84%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5-%D9%84%D9%84%D8%B4%D9%87%D8%B1-%D8%A7%D9%84%D8%B9%D8%A7%D8%B4%D8%B1-%D8%A5%D9%84%D9%89-2-8-%D8%AA%D8%B1%D9%8A%D9%84%D9%8A%D9%88%D9%86-%D8%B1%D9%8A%D8%A7%D9%84\/\" style=\"\" rel=\"noopener\">Mubahser<\/a> reports, citing statistics from the Saudi Central Bank (Sama). Private sector lending value rose 11% in 10M 2024 compared to the entirety of 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#2- <\/strong><strong>Saudi <\/strong><strong>Arabia launched the Riyadh Global Drought Resilience Partnership, <\/strong><strong>pledging <\/strong><strong>USD 150 mn over the next 10 years <\/strong>to support drought-hit countries, according to media reports (<a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2581508\/business-economy\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4375880\/%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B7%D9%84%D9%82-%D9%85%D8%A8%D8%A7%D8%AF%D8%B1%D8%A9-%D8%B4%D8%B1%D8%A7%D9%83%D8%A9-%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85%D9%8A%D8%A9-%D9%84%D9%85%D9%88%D8%A7%D8%AC%D9%87%D8%A9-%D8%A7%D9%84%D8%AC%D9%81%D8%A7%D9%81-%D8%A8%D9%85%D8%A8%D9%84%D8%BA-150-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1\/\" style=\"\" rel=\"noopener\">here<\/a>). This came on the first day of COP16 of the United Nations Convention to Combat Desertification, where the Islamic Development Bank and the Opec Fund for International Development also pledged USD 1 bn each to the initiative.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Saudi Arabia\u2019s B2B catering services sector is projected to hit a market valuation of<\/strong> <strong>USD 3.5 bn by 2032<\/strong>, Astute Analytica India said in a <a target=\"_blank\" href=\"https:\/\/www.globenewswire.com\/news-release\/2024\/12\/02\/2989932\/0\/en\/Saudi-Arabia-B2B-Catering-Services-Market-Set-to-Reach-Valuation-of-US-3-500-1-Million-By-2032-Astute-Analytica.html\" style=\"\" rel=\"noopener\">recent note<\/a>. This would mark a compound annual growth rate of 6.6%, up from USD 2 bn in 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia ramps up oil exports to Asia as Russian supplies dwindle: <\/strong>Saudi Arabia\u2019s oil exports to the Asian markets rose to 5.83 mn barrels per day (bbl \/ d) in November, adding 550k bbl \/ d m-o-m, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/saudi-arabia-boosts-crude-oil-share-asia-russias-expense-russell-2024-12-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing data from LSEG Oil Research. This came as supplies from Russia to the region shed 450k bbl \/ d m-o-m to reach 3.51 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Doubling down: <\/strong>The Kingdom is also looking to bring prices for Asian buyers to at least a four-year low in January, with selling prices for Arab Light set to fall by around USD 0.7-0.9 per barrel from December prices, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/saudi-arabia-may-slash-january-crude-prices-asia-2024-12-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing six sources at Asian refineries that took part in its survey.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong>Aramco left December prices for liquefied petroleum gas (LPG) unchanged, with propane still going for USD 635 per ton and butane for USD 630, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/commodities\/saudi-aramco-holds-dec-lpg-osps-steady-sonatrach-cuts-by-2-3-cylvg2bm\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing traders. <\/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>No single story is dominating the headlines across the global press this morning<\/strong>, with attention split between parliamentary turmoil in France, cross-border strikes amid a fragile ceasefire in Lebanon, another high-level corporate resignation, and Musk\u2019s latest run-in with the courts all fighting for attention. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>News outlets are forecasting the \u201call but certain\u201d collapse of the French government led<\/strong><strong> by Prime Minister Michel Barnier by the end of the week<\/strong>, after his move to try to push through an unpopular budget of EUR 60 bn in tax rises and budget cuts led to no-confidence motions being put forward from both the left and right. Barnier is warning of \u201cserious financial turbulence\u201d if both the budget and government falls, and it seems the markets have already got the memo. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/french-far-right-party-likely-back-no-confidence-motion-against-government-2024-12-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/12\/02\/world\/europe\/france-budget-no-confidence-vote.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-02\/far-right-to-back-no-confidence-motion-against-french-government?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cn8g7zp0q79o\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2024\/dec\/02\/what-will-happen-if-france-government-loses-no-confidence-vote-michel-barnier\" style=\"\" rel=\"noopener\">Guardian<\/a>)<\/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 also continuing to attract the attention of the world\u2019s press<\/strong>, with the rebel advance in Syria and cross border strikes in Lebanon despite the ceasefire pushing their way up the digital front pages. At least nine were killed yesterday in Israel\u2019s heaviest strikes since the ceasefire began last week. (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/12\/02\/world\/middleeast\/hezbollah-israel-lebanon.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-02\/hezbollah-fires-toward-israel-as-skirmishes-mar-cease-fire-push?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\"><strong>WHILE IN BUSINESS NEWS\u2013 A Delaware judge has struck down Tesla CEO Elon Musk\u2019s USD <\/strong><strong>56 bn pay package<\/strong> for the second time, rejecting Tesla\u2019s attempt to reinstate it through a shareholder re-vote. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/delaware-judge-rejects-request-restore-elon-musks-56-billion-tesla-compensation-2024-12-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/12\/02\/business\/elon-musk-tesla-pay-ruling.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/9880470f-a3be-4d98-ab36-59604ee9baea\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/autos\/judge-again-rejects-musk-multibillion-dollar-pay-plan-9f98024d?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND-<\/strong> <strong>Another CEO called it quits this week<\/strong>, with Intel\u2019s Pat Gelsinger \u201cabruptly\u201d stepping down amid the chipmaker\u2019s ongoing struggles to regain its footing in a fiercely competitive industry. Gelsinger, who took the helm in 2021, faced mounting pressure as Intel\u2019s ambitious turnaround plans failed to gain traction, with its market value nearly halving this year while rivals like Nvidia surged ahead. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1da33c80-6328-49a7-be8a-e7e1221c43c0\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-02\/intel-ceo-pat-gelsinger-retires-amid-chipmaker-s-turnaround-plan?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/intel-ceo-gelsinger-retires-leaves-board-cb2478e6?mod=hp_lead_pos8\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/12\/02\/technology\/intel-ceo-pat-gelsinger.html\" style=\"\" rel=\"noopener\">New York Times<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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 Saudi-French In<\/strong><strong>novation Summit opens its doors at <\/strong><strong>Crowne Plaza Riyadh<\/strong> <strong>tomorrow<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/12\/02\/article_2753655.html\" style=\"\" rel=\"noopener\">Al Eqtisadiah<\/a>. The event will bring together over 50 French companies and 300 industry leaders, entrepreneurs, and investors from both nations to probe potential partnerships and investments in the tech sector.<\/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 this <\/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<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 two-day pharma exhibition <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cphi.com\/middle-east\/en\/home.html\" style=\"\" rel=\"noopener\">CPHI Middle East<\/a><\/strong><strong> kicks off in Riyadh on Tuesday, <\/strong><strong>10 <\/strong><strong>December.<\/strong> The event will bring together leading pharma companies, industry experts, and innovators to discuss advancements in medicine and healthcare.<\/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\" 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       \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/where-the-world-bank-sees-inflation-govt-spending-and-more\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/195.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92152\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/where-the-world-bank-sees-inflation-govt-spending-and-more\/195-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/195.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"195.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/195.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/195.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92151\" class=\"content-area-description single-story post-92151 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-ksa tag-gdp tag-world-bank 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\/.01eaf191-6378-47a7-81de-2806d11556ba.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fiscal expansion is stretching the state\u2019s purse strings: <\/strong>Government spending is on the rise, with municipal services (up 116% y-o-y in 1H 2024) and public administration (up 30%) leading the charge, while state revenues took hits from falling oil prices, the World Bank said in its Fall <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/153.pdf\" style=\"\" rel=\"noopener\">GCC Economic Update (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fiscal deficit is expected to h<\/strong><strong>it <\/strong><strong>2.9%<\/strong><strong> of GDP in 2024<\/strong><strong> and is expected to remain at 2.2% <\/strong><strong>and 2.8% in 2025 and 2026.<\/strong> Nevertheless, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3e06b286-b3ce-450c-8c1a-7f63001d6535\/s&p-upgrades-saudi%25e2%2580%2599s-sovereign-credit-rating-outlook-to-positive\" style=\"\" rel=\"noopener\">Aramco's performance-linked dividends<\/a>, which stood at USD 108 bn in Q2 2024, are expected to continue mitigating larger deficits. <\/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>Meanwhile, foreign investors are still on the fence: <\/strong>FDI volumes were up 14.5% q-o-q in 2Q 2024, but remained nearly flat y-o-y at SAR 36.41 bn in 1H 2024, up from SAR 36.35 bn logged during the same period last year reflecting \u201cchallenges in sustaining investor confidence\u201d despite reforms and simplified regulations. This prompted Saudi authorities to roll out a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/95c71960-5703-46db-a5e6-1e2f63de2ea0\/big-changes-are-underway\" style=\"\" rel=\"noopener\">new investment law<\/a>, effective from 2025, which is designed to level the playing field for foreign investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What about inflation?<\/strong> The multilateral lender notes that inflation in Saudi and other GCC states has remained stable despite pressure from housing prices. Falling interest rates due to further rate cuts by the US Federal Reserve and an uptick in economic growth are expected to lead to higher inflation next year, but price hikes are expected to remain subdued due to the moderating effects of subsidies, fuel price ceilings, falling global food prices, and the USD peg. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> Inflation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a2625fd1-3efa-44f6-96bc-27275473751e\/%253cmark%253einflation%253c%2Fmark%253e-registers-a-record-high-this-year-at-1.9%2525-y-o-y-in-october\" style=\"\" rel=\"noopener\">accelerated to 1.9% y-o-y in October<\/a>, hitting its highest since the start of the year. Consumer prices have been on an upward trajectory since August, with the trend largely driven by <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/fc63df48-ceb1-4572-aecd-0280d03dcef2\/jeddah-and-riyadh-lead-3q-2024-rental-yields-and-property-prices\" style=\"\" rel=\"noopener\">rising home rents<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudization is on the rise:<\/strong> The unemployment rate is trending down, dropping to 3.5% in the first quarter of this year from the 4.2% noted during the same period last year. Job growth is supported by the government\u2019s Saudization program, with some 37k Saudi nationals recruited for private sector jobs in August alone. Increased employment of Saudis in the private sector is also helping to narrow the wage gap that has traditionally seen expat workers receiving substantially lower wages than similarly qualified Saudi peers. Meanwhile, expat participation in Saudi\u2019s private sector stands at 40%, less than half the 88% rate noted for the GCC as a whole. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Water woes demand action: <\/strong>The World Bank sees significant challenges in terms of water availability for the Kingdom going forward, as groundwater and other renewable resources face unsustainable depletion rates. Low pricing for water utilities and inefficient use of water in agriculture and manufacturing are further compounding the Kingdom\u2019s water stress. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/world-bank\/\">World Bank<\/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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href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/aramco-acquires-a-10-minority-stake-in-horse-powertrain\/\">\r\n                            Aramco acquires a 10% minority stake in Horse Powertrain                        <\/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\/03\/aramco-acquires-a-10-minority-stake-in-horse-powertrain\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n     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data-attachment-id=\"92155\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/aramco-acquires-a-10-minority-stake-in-horse-powertrain\/233-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/233.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"233.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/233.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/233.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92154\" class=\"content-area-description single-story post-92154 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-aramco tag-enterpriseam-ksa tag-evs tag-geely tag-horse-powertrain tag-ma-watch tag-renault 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\/.41f514c6-a2bb-460c-a9ab-423c189c7b7f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Aramco finalized its purchase of a 10% stake in London-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.horse.cars\/about-horse\/\" style=\"\" rel=\"noopener\">Horse<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.horse.cars\/about-horse\/\" style=\"\" rel=\"noopener\"><\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.horse.cars\/about-horse\/\" style=\"\" rel=\"noopener\">Powertrain<\/a><\/strong> \u2014 a JV between French carmaker Renault and China\u2019s Geely \u2014 following the signing of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/28cf868b-1442-47f5-9f69-7993be68b361\/aramco-is-closing-in-on-10%2525-of-horse%253cmark%253e-powertrain%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">definitive agreements<\/a> back in June, according to <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2024\/aramco-completes-acquisition-of-10-percent-stake-in-horse-powertrain-limited\" style=\"\" rel=\"noopener\">a joint press release<\/a>. Aramco had initially pursued a 20% stake in the powertrain technology venture under <a target=\"_blank\" href=\"https:\/\/geelyksa.com\/news\/geely-unveils-new-partnership-with-renault-and-aramco-to-revolutionize-powertrain-technology\/\" style=\"\" rel=\"noopener\">a preliminary agreement<\/a> with Renault and Geely last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The agreement values Horse Powertrain at EUR 7.4 bn, implying a transaction value of<\/strong><strong> EUR 740 mn.<\/strong> The agreement will see Renault and Geely each retain a 45% stake. Aramco Senior Vice President of Technology Oversight & Coordination Ali Al Meshari (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/dr-ali-al-meshari-3961332b\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Linkedin<\/a>) will have a seat on the board, while the other owners will have three seats each.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds:<\/strong> \u201cAramco\u2019s investment is expected to accelerate Horse Powertrain\u2019s efforts to develop next\u2011generation ICE (internal combustion engine) and hybrid powertrains, along with complementary technologies like alternative fuel and hydrogen solutions. As part of the transaction, Aramco and affiliate Valvoline Global Operations will collaborate with Horse Powertrain on innovations in ICE technology, fuels, and lubricants,\u201d according to the press release.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cAt Aramco, we are pursuing a number of potential innovative solutions, from lower-carbon synthetic fuels to more efficient internal combustion engines, as we look for opportunities to make a difference. Our investment in Horse Powertrain builds on our considerable R&D in this field,\u201d said Aramco Executive Vice President of Technology & Innovation, Ahmad Al Khowaiter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Horse Powertrain: <\/strong>The London-based JV was set up to manufacture next-generation powertrain solutions, including internal combustion engines that use alternative fuels such as ethanol, methanol, and hydrogen, as well as full hybrids and long-range plug-in hybrids, according to its website. It currently operates 17 global plants and five R&D centers with 10 industrial customers in 130 countries, according to the release. It expects to produce some 5 mn powertrain units annually.<\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/geely\/\">Geely<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/horse-powertrain\/\">Horse Powertrain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/renault\/\">Renault<\/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=\"92156\" 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=\"92156\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/al-watania-poultry-looking-to-sell\/\">\r\n                            Al Watania Poultry looking to sell company for SAR 2 bn                        <\/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\/03\/al-watania-poultry-looking-to-sell\/\" 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\/03\/al-watania-poultry-looking-to-sell\/')\">\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\/03\/al-watania-poultry-looking-to-sell\/\">\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=Al Watania Poultry looking to sell?&url=https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/al-watania-poultry-looking-to-sell\/\">\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\/03\/al-watania-poultry-looking-to-sell\/&title=Al Watania Poultry looking to sell?\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Al+Watania+Poultry+looking+to+sell%3F+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F12%2F03%2Fal-watania-poultry-looking-to-sell%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\/03\/al-watania-poultry-looking-to-sell\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/231.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92157\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/al-watania-poultry-looking-to-sell\/231-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/231.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"231.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/231.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/231.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92156\" class=\"content-area-description single-story post-92156 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-al-rajhi tag-al-watania tag-enterpriseam-ksa tag-ma-watch tag-poultry 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\/.51427115-4d93-4ce9-9271-20c81ba2551d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Al Watania Poultry is reportedly mulling selling the company for as much as <\/strong><strong>SAR 2 bn (USD 532 mn)<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-02\/saudi-poultry-giant-alwatania-is-said-to-explore-sale-of-company\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports citing people familiar with the matter. The poultry producer \u2014 which is the largest in the Middle East \u2014 tapped BSF Capital as advisor on the possible transaction, the sources said, adding that talks are still ongoing and could see the planned sale delayed or scrapped entirely. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Watania is looking to capitalize on a boost to the food industry amid Saudi\u2019s economic <\/strong><strong>overhaul<\/strong>, with food security rising in importance following supply chain disruptions and inflation caused by Covid-19 and the war in Ukraine, the business information service writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Al Watania: <\/strong>Established in 1977 by Sulaiman Al Rajhi \u2014 who also founded Al Rajhi Bank with his brother \u2014 the Saudi poultry giant processes upwards of 1 mn birds and 1.5 mn eggs a day. It recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/60992d8a-c384-4bf8-9f63-4182ae995619\/new-snb-capital-fund-opens-doors-to-nomu-market-stocks-for-all-investors#:~:text=Al%20Watania%20Poultry%20opened%20a%2017.7k%20kW%20cooling%20plant%2C%20the%20largest%20in%20the%20Middle%20East%2C\" style=\"\" rel=\"noopener\">opened a 17.7k kW cooling plant<\/a>, the region\u2019s largest, to serve an automated slaughterhouse that processes 36k birds per hour.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- This follows similar M&A in the Saudi food industry: <\/strong>BRF Arabia, a joint venture between Brazilian food processor <a target=\"_blank\" href=\"https:\/\/www.brf-global.com\/en\/\" style=\"\" rel=\"noopener\">BRF SA<\/a> and PIF-owned Halal Products Development Company, agreed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b7fc3236-68a6-40de-8bb5-0d96e83f4b8c\/saudi-brazilian-venture-eyes-26%2525-stake-in-addoha-poultry#:~:text=Saudi%2DBrazilian%20JV%20to%20acquire%2026%25%20of%20Addoha%20Poultry%3A%20BRF%20Arabia%2C%20a%20joint%20venture%20between\" style=\"\" rel=\"noopener\">last month<\/a> to acquire a 26% stake in <a target=\"_blank\" href=\"https:\/\/www.adpoultry.com\/\" style=\"\" rel=\"noopener\">Addoha Poultry<\/a>, one of the Kingdom\u2019s largest chicken suppliers, for SAR 316.2 mn (USD 84.3 mn). Some USD 58 mn of the new investment is earmarked for expanding production at Addoha. <\/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\/\">Al Rajhi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-watania\/\">Al Watania<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/poultry\/\">Poultry<\/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=\"92158\" 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=\"92158\">\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\">Sports<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/a-fresh-sar-1-7-bn-package-to-support-sports-development\/\">\r\n                            A fresh SAR 1.7 bn package to support sports development                        <\/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\/03\/a-fresh-sar-1-7-bn-package-to-support-sports-development\/\" 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\/03\/a-fresh-sar-1-7-bn-package-to-support-sports-development\/')\">\n          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class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/a-fresh-sar-1-7-bn-package-to-support-sports-development\/&title=A fresh SAR 1.7 bn package to support sports development\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=A+fresh+SAR+1.7+bn+package+to+support+sports+development+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F12%2F03%2Fa-fresh-sar-1-7-bn-package-to-support-sports-development%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\/03\/a-fresh-sar-1-7-bn-package-to-support-sports-development\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/227.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92159\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/a-fresh-sar-1-7-bn-package-to-support-sports-development\/227-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/227.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"227.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/227.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/227.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92158\" class=\"content-area-description single-story post-92158 post type-post status-publish format-standard has-post-thumbnail hentry category-_newspack_sports tag-enterpriseam-ksa tag-saudi-pro-league-spl tag-sports tag-sports-ministry 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\/.c312548b-f857-4822-928b-ce94b5112dbd.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The <\/strong><strong>Sports Ministry unveiled a SAR 1.7 bn package to three sports<\/strong> <strong>initiatives for the 2024-2025 season<\/strong>, in a bid to support club development, the <a target=\"_blank\" href=\"https:\/\/x.com\/mosgovsa\/status\/1863262029097714165\" style=\"\" rel=\"noopener\">ministry said<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some SAR 1 bn of the total package is earmarked for Saudi Pro League (SPL) clubs:<\/strong><\/p>\n<ul>\n<li>Publicly-owned SPL clubs will be granted SAR 47 mn annually, while privately-owned clubs will receive an annual SAR 45 mn;<\/li>\n<li>All First Division League clubs will receive SAR 6 mn per year;<\/li>\n<li>Public clubs in the Second Division League will receive SAR 2.8 mn annually, while private clubs will get SAR 2.7 mn. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A SAR 503 mn package will be allocated to support a variety of sports<\/strong>, with funds distributed according to a points system, where each point is valued at SAR 270k. The sports are divided into three categories, with each category assigned a specific number of points based on the activities within each sport. Clubs will receive points corresponding to the sports they actively participate in.<\/p>\n<ul>\n<li><strong>Category A (96 points): <\/strong>karate, volleyball, handball, strength sports, judo, swimming, and basketball;<\/li>\n<li><strong>Category B (84 points): <\/strong>Jiu Jitsu, taekwondo, badminton, wrestling, fencing, weight lifting, and gymnastics;<\/li>\n<li><strong>Category C (56.7 points):<\/strong> bike racing, boxing, tennis, archery, esports and table tennis.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI<\/strong><strong>- <\/strong>The privatization of sports clubs <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f6233875-b117-421e-9e89-f2f49a67754f\/\" style=\"\" rel=\"noopener\">could reel in some SAR 500 mn<\/a> in revenues, with 25 local and international firms expressing interest in acquiring stakes in Saudi clubs that are part of the government\u2019s privatization initiative, Sports Minister Abdulaziz Al Faisal was quoted as saying. <\/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\/saudi-pro-league-spl\/\">Saudi Pro League (SPL)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports-ministry\/\">Sports Ministry<\/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=\"92160\" 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=\"92160\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/of-plastic-and-politics\/\">\r\n                            Saudi\u2019s positions on plastic and politics make the rounds                        <\/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\/03\/of-plastic-and-politics\/\" 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\/03\/of-plastic-and-politics\/')\">\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\/03\/of-plastic-and-politics\/\">\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=Of plastic and politics&url=https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/of-plastic-and-politics\/\">\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\/03\/of-plastic-and-politics\/&title=Of plastic and politics\">\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=Of+plastic+and+politics+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F12%2F03%2Fof-plastic-and-politics%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\/03\/of-plastic-and-politics\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/225.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92161\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/of-plastic-and-politics\/225-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/225.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"225.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/225.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/225.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92160\" class=\"content-area-description single-story post-92160 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-climate tag-enterpriseam-ksa tag-iran tag-israel tag-saudi-in-the-news 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\/.b52ae009-bf1d-4859-8e05-5d5e1f744724.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Crown Prince Mohammed bin Salman\u2019s foreign relations \u201cpivot\u201d is <\/strong><strong>turning heads in<\/strong> <strong>Washington and beyond<\/strong>, although the move is a calculated shift in strategy, <a target=\"_blank\" href=\"https:\/\/foreignpolicy.com\/2024\/12\/02\/saudi-arabia-mohammed-bin-salman-pivot-iran\/\" style=\"\" rel=\"noopener\">Foreign Policy<\/a> \u2019s Steven A. Cook writes. The columnist suggests that as the Crown Prince doubles down on Saudi\u2019s position on Palestinian statehood, warming up to Tehran could also give Saudi some strategic leverage in its negotiations with the US over the two countries\u2019 potential defense pact. <\/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>MEANWHILE- <\/strong><strong>UN Intergovernmental Negotiating Committee talks in South Korea<\/strong><strong> concluded without a legally binding <\/strong><strong>agreement to cut plastic use<\/strong>, as oil-producing countries including Saudi Arabia <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/10ab1e77-a547-47be-af69-e2cd68df44a0\/it%25e2%2580%2599s-a-mixed-bag-for-saudi-in-the-int%25e2%2580%2599l-press\" style=\"\" rel=\"noopener\">opposed a proposal to cut production<\/a>, the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/plastic-pollution-treaty-south-korea-75187319a8cebc6e54fc1557ff40b266\" style=\"\" rel=\"noopener\">Associated Press<\/a> reports. The Kingdom, Kuwait, Iran, and other states also blocked a move that would have seen decisions on proposals determined by majority votes rather than consensus. Negotiators are set to pick up discussions next year. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/climate\/\">CLIMATE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/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=\"92162\" 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=\"92162\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/tharwah-closes-in-on-amjad-watan-acquisition\/\">\r\n                            Tharwah closes in on Amjad Watan acquisition                        <\/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\/03\/tharwah-closes-in-on-amjad-watan-acquisition\/\" 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\/03\/tharwah-closes-in-on-amjad-watan-acquisition\/')\">\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\/03\/tharwah-closes-in-on-amjad-watan-acquisition\/\">\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=Tharwah closes in on Amjad Watan acquisition&url=https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/tharwah-closes-in-on-amjad-watan-acquisition\/\">\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\/03\/tharwah-closes-in-on-amjad-watan-acquisition\/&title=Tharwah closes in on Amjad Watan acquisition\">\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=Tharwah+closes+in+on+Amjad+Watan+acquisition+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F12%2F03%2Ftharwah-closes-in-on-amjad-watan-acquisition%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\/03\/tharwah-closes-in-on-amjad-watan-acquisition\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/223.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92163\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/tharwah-closes-in-on-amjad-watan-acquisition\/223-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/223.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"223.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/223.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/223.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92162\" class=\"content-area-description single-story post-92162 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam-ksa tag-national-unified-procurement-company-nupco tag-tanmiah-food 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\/.1d9fd55e-85c1-44d6-9f74-194dcf5626a3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- HR advisory<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/www.tharwah.net\/\" style=\"\" rel=\"noopener\">Tharwah<\/a><\/strong><strong> signed a binding MoU to acquire a 49% stake in <\/strong><strong>Amjad Watan <\/strong><strong>Exhibitions and Conferences Organization Company<\/strong>, a one-person entity, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83969&anCat=1&cs=9606&locale=en\" style=\"\" rel=\"noopener\">a filing to Tadawul<\/a>. The six-month agreement will allow Tharwah to complete due diligence procedures and obtain related regulatory and shareholder approvals, before finalizing the acquisition. No financial advisor has been appointed yet.<\/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>#2- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/tanmiah.com\/agricultural-development-company.php\" style=\"\" rel=\"noopener\">Agricultural Development Company<\/a><\/strong> <strong> \u2014 a unit of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/tanmiah.com\/index.php\" style=\"\" rel=\"noopener\">Tanmiah Food<\/a><\/strong><strong> \u2014 inked a SAR <\/strong><strong>143 mn <\/strong><strong>agreement to acquire a new poultry processing plant from<\/strong><strong> Dajin Poultry Company<\/strong>, the parent company said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83948&anCat=1&cs=2281&locale=en\" style=\"\" rel=\"noopener\">a filing to Tadawul<\/a>. The move plays into the company\u2019s plans to ramp up production capacity by next year. The company will tap its existing banking facilities to finance the purchase. <\/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\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nupco mulls partnerships with BGI: <\/strong>The National Unified Procurement Company (Nupco) signed an MoU with Chinese biotech group BGI to probe potential partnerships in the Kingdom\u2019s medical supply chain, preventive healthcare sector, and logistics services for transporting biological specimens, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2217378\" style=\"\" rel=\"noopener\">state news agency (SPA)<\/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\">TRAVEL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Avolta lands in the Kingdom with F&B play at Riyadh airport:<\/strong> Swiss-based travel retailer <a target=\"_blank\" href=\"https:\/\/www.avoltaworld.com\/en\" style=\"\" rel=\"noopener\">Avolta AG<\/a> secured a contract to operate 10 food and beverage (F&B) outlets across Terminals 1 and 2 at Riyadh\u2019s King Khalid International Airport, it said in <a target=\"_blank\" href=\"https:\/\/www.eqs-news.com\/news-details\/?eqsNewsID=2894089\" style=\"\" rel=\"noopener\">a press release<\/a>. The Saudi debut grants Avolta access to over 28 mn passengers per year, to which it will introduce a mix of global brands like <a target=\"_blank\" href=\"https:\/\/letocaffe.com\/\" style=\"\" rel=\"noopener\">L\u2019ETO<\/a> and local favorites like Dallah Coffee.<\/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\/national-unified-procurement-company-nupco\/\">National Unified Procurement Company (Nupco)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tanmiah-food\/\">Tanmiah Food<\/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=\"92164\" 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=\"92164\">\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\/03\/nasdaq-sp-mark-the-start-of-december-with-fresh-records\/\">\r\n                            Nasdaq, S&amp;P mark the start of December with fresh records                        <\/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\/03\/nasdaq-sp-mark-the-start-of-december-with-fresh-records\/\" 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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Yesterday\u2019s rise also piggybacked off their performance in November, which ended as the indexes\u2019 strongest month of the year. <\/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>Markets are getting a boost from Trump 2.0:<\/strong> Donald Trump\u2019s upcoming return to the White House helped push a rally in stocks last month, with strategists seeing upside from the president-elect\u2019s \u201cpotential plans for tax cuts and deregulation,\u201d according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/futures-slip-start-data-packed-week-2024-12-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Investors are broadly positive on the incoming \u201cpro-business\u201d administration, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/12\/01\/stock-market-today-live-updates.html\" style=\"\" rel=\"noopener\">CNBC<\/a> says. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Upcoming data could rock the boat a little, but December will likely be a good month for <\/strong><strong>markets:<\/strong> The US Labor Department is set to release November jobs data this Friday, which some analysts and investors expect will create some volatility in the markets, according to the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-today-dow-sp500-nasdaq-live-12-02-2024\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>. Investors are also keeping an eye on the US Federal Reserve\u2019s next Federal Open Market Committee meeting, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/feds-waller-says-inclined-this-point-cut-rates-december-2024-12-02\/\" style=\"\" rel=\"noopener\">following remarks<\/a> from Fed Governor Christopher Waller that he\u2019s leaning towards a rate cut but has concerns about inflation levels. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still, analysts don\u2019t expect markets to skyrocket this month.<\/strong> \u201cDecember seasonality is generally bullish, but there\u2019s precedent for a pullback when the market is already up big through November of election years,\u201d Bespoke Investment Group said, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-01\/asian-stocks-poised-for-gains-after-best-us-month-markets-wrap\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The S&P 500 could end the year at 6,200 points \u2014 a little less than 3% higher than its November close \u2014 as the index is likely to \u201cgrind higher, but not rocket higher,\u201d InfraCap CEO Jay Hatfield tells CNBC.<\/p>\n<p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are broadly in the green in early morning trading<\/strong>, buoyed by gains from Wall Street yesterday. The Nikkei and Kospi are both up, while the Hang Seng Index is just barely in the red. Meanwhile, futures indicate the S&P 500 and Nasdaq are set to open in the green, while the Dow Jones could be facing some selling pressure. <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,739<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: -1.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,470<\/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: -5.2%)<\/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>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\">30,289<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +23.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.25% 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\">30,525<\/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: +22.6%)<\/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>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\">6047<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +26.8%)<\/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>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\">8313<\/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: +7.4%)<\/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>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\">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\">+0.9% (YTD: +7.2%)<\/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 71.83<\/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\">-0.01%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.20<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-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>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 2661.60<\/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\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 95,428.60<\/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\">-2.4% (YTD: +125.9%)<\/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>was unchanged <strong>yesterday <\/strong>on turnover of SAR 5.5 bn. The index is down 1.9% 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> Saudi Re (+6.0%), Chemical (+5.1%) and Fitaihi Group (+4.6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Shl (-3.9%), Care (-3.5%) and MBC Group (-3.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong> rose 0.4% <strong>yesterday <\/strong>on turnover of SAR 80.7 mn. The index is up 23.5% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Sure (+8.2%), Apico (+5.3%) and Purity (+4.0%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Fesh Fash (-5.2%), Al Muneef (-4.9%) and AME (-4.7%).<\/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\/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=\"92166\" 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=\"92166\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/03\/crown-prince-touches-down-in-the-uae-on-a-private-visit\/\">\r\n                            Crown Prince touches down in the UAE on a private visit                        <\/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\/03\/crown-prince-touches-down-in-the-uae-on-a-private-visit\/\" 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 purpose and duration of the visit were not disclosed, the timing raises eyebrows as key oil decisions, including the UAE\u2019s planned output hike for January 2025, are on the table. The visit follows the postponement of Sunday\u2019s OPEC+ meeting to make way for a Gulf Summit in Kuwait which was also attended by the Crown Prince. <\/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\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mohammed-bin-salman\/\">Mohammed bin Salman<\/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=\"92168\" 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\/03\/92168\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92168\" class=\"content-area-description single-story post-92168 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>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;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 style=\"font-weight:400;\"> 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 D<\/span><span>ecember (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 style=\"font-weight:400;\">15 December (Sunday): Launch day for Riyadh Metro lines two and three. <\/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;\">24-25 December (Tuesday-Wednesday): Retail subscription period for Nice One\u2019s Tadawul IPO.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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 style=\"font-weight:400;\">5 January (Sunday): Launch day for Riyadh Metro line 3.<\/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>Aramco acquires a 10% minority stake in Horse Powertrain | Al Watania Poultry looking to sell for SAR 2 bn? | A fresh SAR 1.7 bn package to support sports development<\/p>\n","protected":false},"featured_media":92147,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-92146","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"7aaa9a50-f36b-440b-806f-ddc18456b77a","teaser":"Aramco acquires a 10% minority stake in Horse Powertrain | Al Watania 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