{"id":92672,"date":"2024-12-19T00:00:00","date_gmt":"2024-12-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=92672"},"modified":"2025-12-14T19:49:20","modified_gmt":"2025-12-14T19:49:20","slug":"hotel-occupancy-was-up-stays-were-longer-in-2q-2024","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/hotel-occupancy-was-up-stays-were-longer-in-2q-2024\/","title":{"rendered":"Hotel occupancy was up + stays were longer in 2Q 2024"},"content":{"rendered":"<section id=\"92674\" 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=\"92674\">\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\/19\/sama-cuts-interest-rates-in-line-with-the-fed-united-carton-industries-gets-ipo-green-light\/\">\r\n                            THIS MORNING: Sama cuts interest rates in line with the Fed + United Carton Industries gets IPO green light                        <\/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 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/18.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"18.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/18.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/18.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92674\" class=\"content-area-description single-story post-92674 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-aviation tag-batic-investment-and-logistics tag-bureau tag-cybersecurity tag-data-saudi tag-egypt-saudi-relations tag-enterpriseam-ksa tag-exports tag-mining tag-saudi-central-bank-sama tag-startups tag-trade tag-united-carton-industries-company 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\/.25483395-fc90-446f-9a3d-d63a75f5d9fb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, ladies and gentlemen.<\/strong> We have a relatively busy Thursday issue to round out the week, with the latest hospitality figures from Gastat and another IPO set to hit Nomu leading this morning\u2019s news well. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>PLUS- The Saudi Central Bank (Sama) cut interest rates by 25 bps<\/strong>, in line with the US Federal Reserve\u2019s move to cut rates in its meeting yesterday, according to a <a target=\"_blank\" href=\"https:\/\/www.sama.gov.sa\/ar-sa\/News\/Pages\/news-1062.aspx\" style=\"\" rel=\"noopener\">Sama statement<\/a>. The move will see the reverse repo rates falling to 4.50%, while Sama\u2019s repo rate is now at 5.0%. We have more on the Fed\u2019s decision in Planet Finance, below.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- It\u2019s the final day for the following events: <\/strong>The <a target=\"_blank\" href=\"https:\/\/impaq.media.gov.sa\/\" style=\"\" rel=\"noopener\">Impact Makers Forum (ImpaQ)<\/a>, taking place at Riyadh\u2019s Mayadeen Hall, the UN\u2019s <a target=\"_blank\" href=\"https:\/\/igfriyadh2024.sa\/index.html\" style=\"\" rel=\"noopener\">Internet Governance Forum<\/a>, and the <a target=\"_blank\" href=\"https:\/\/forbesmiddleeastevents.com\/women-summit-2024\/\" style=\"\" rel=\"noopener\">Forbes Middle East\u2019s Women\u2019s Summit<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>The Riyadh Season <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wst.tv\/riyadhseasonworldmastersofsnooker\/\" style=\"\" rel=\"noopener\">World Masters of Snooker<\/a><\/strong><strong> quarterfinals<\/strong><strong> begin today at the Global<\/strong><strong> Theater in Riyadh\u2019s Boulevard City<\/strong>, featuring the world\u2019s top 10 snooker players and two wildcards, competing for a pool of GBP 785k. The semifinals and final are scheduled for tomorrow.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong><strong>Riyadh feels warmer today<\/strong>, hitting a high 20\u00b0C after a crisp 8\u00b0C early morning low. Meanwhile, Jeddah expects thunderstorms at a daytime high of 31\u00b0C, tapering off to 22\u00b0C. Madinah also faces thunderstorms but with cooler temperatures peaking at 25\u00b0C and hitting a 12\u00b0C low.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\u26a0\ufe0f<strong>PSA- Makkah, Al Baha, Madinah, and Tabuk are expecting light to moderate rains<\/strong>, along with other regions in the Kingdom, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1805.pdf\" style=\"\" rel=\"noopener\">warning (pdf)<\/a> from the National Center of Meteorology.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- Engineers in the public sector will be subject to a new pay grade scheme as of<\/strong><strong> Tuesday, 31 December<\/strong>, after Cabinet signed off on the new scale, the <a target=\"_blank\" href=\"https:\/\/x.com\/HRSD_SA\/status\/1868995952373092539\" style=\"\" rel=\"noopener\">Human Resources and Social Development Ministry said<\/a>. The new system places engineers on a salary scale depending on where they fall within four categories \u2014 engineer, associate engineer, professional engineer, and consulting engineer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s eligible?<\/strong> The new salary scale targets engineers with bachelor\u2019s degrees from accredited universities in the Kingdom or abroad, who are currently employed under the public employee pay grade. Accreditation from the Saudi Council of Engineers is also required. <\/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- United Carton Industries gets the go-ahead for its IPO: <\/strong>The Capital Market Authority greenlit <a target=\"_blank\" href=\"https:\/\/www.ucic.com.sa\/\" style=\"\" rel=\"noopener\">United Carton Industries Company<\/a> \u2019s bid to IPO 12 mn shares (or a 30% stake), according to a Tadawul <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-CMA%2017-12-2024\" style=\"\" rel=\"noopener\">statement<\/a>. The exchange did not clarify whether the company plans to list on Tadawul or parallel market Nomu. The prospectus will be released before the subscription period begins.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About United Carton Industries: <\/strong>United Carton Industries Company is a corrugated packaging manufacturer and supplier. It currently operates five plants and 31 production lines in the Kingdom with an annual production capacity of 420k tons. It works with both international and domestic clients.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#3- The demand for parking services in the Kingdom is forecast to hit SAR 2.5-3 bn over<\/strong><strong> the <\/strong><strong>next three years<\/strong>, <a target=\"_blank\" href=\"https:\/\/batic.sa\/\" style=\"\" rel=\"noopener\">Batic Investments and Logistics<\/a> \u2019 CEO Mohammed Al Zamil told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/64070\/%D8%A8%D8%A7%D8%B1%D9%83%D9%86-%D8%AF%D8%A8%D9%8A-%D8%AA%D9%88%D9%82%D8%B9-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D8%A7-%D9%85%D8%B9-%D8%A8%D8%A7%D8%AA%D9%83-%D9%84%D8%AF%D8%AE%D9%88%D9%84-%D8%A7%D9%84%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business (watch, runtime: 1:34:05)<\/a>. He said the tourism and entertainment sectors will fuel the rise, along with increasing demand for parking close to the new <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/042112b3-ae1d-4e47-8557-dbfeb41ce664\/%253cmark%253eriyadh-metro%253c%2Fmark%253e%25e2%2580%2599s-blue-line-begins-operations-today\" style=\"\" rel=\"noopener\">Riyadh metro<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Batic\u2019s subsidiary Smart Cities Solutions Company recently signed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/424f2f3c-1b1c-40ca-998d-205fff2c8bbb\/alsulaiman%25e2%2580%2599s-flow-%2B-bahrain%25e2%2580%2599s-arcapita-to-develop-logistics-complex-in-riyadh\" style=\"\" rel=\"noopener\">an MoU<\/a> with Dubai-based public parking operator <a target=\"_blank\" href=\"https:\/\/www.parkin.ae\/\" style=\"\" rel=\"noopener\">Parkin<\/a> to expand parking services in the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- US-based law firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.pillsburylaw.com\/en\/\" style=\"\" rel=\"noopener\">Pillsbury Winthrop Shaw Pittman<\/a><\/strong><strong> is looking to set up shop in <\/strong><strong>Riyadh <\/strong>through a partnership with AlArfaj & Partners Managing Partner Khalid AlArfaj, who was formerly an associate at Pillsbury Winthrop, <a target=\"_blank\" href=\"https:\/\/news.bloomberglaw.com\/business-and-practice\/pillsbury-to-open-riyadh-post-by-partnering-with-past-associate\" style=\"\" rel=\"noopener\">Bloomberg Law<\/a> reports. The Pillsbury AlArfaj office will focus on energy, infrastructure, commercial transactions, compliance, and disputes, and launch operations once its license is approved.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- New Data Saudi app in town:<\/strong> The Economy and Planning Ministry is piloting the <a target=\"_blank\" href=\"https:\/\/datasaudi.sa\/en\" style=\"\" rel=\"noopener\">Data<\/a><a target=\"_blank\" href=\"https:\/\/datasaudi.sa\/en\" style=\"\" rel=\"noopener\">Saudi<\/a> platform, a unified platform featuring the latest economic and social data for the Kingdom, as well as its trade stats with other countries, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2229597\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reports. In addition to the website, the platform is available via the <a target=\"_blank\" href=\"https:\/\/apps.apple.com\/us\/app\/data-saudi-%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\/id6478207201\" style=\"\" rel=\"noopener\">App Store<\/a> and <a target=\"_blank\" href=\"https:\/\/play.google.com\/store\/apps\/details?id=gov.mep.datasaudi&hl=en_US\" style=\"\" rel=\"noopener\">Google Play<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- US-based cybersecurity startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bureau.id\/\" style=\"\" rel=\"noopener\">Bureau<\/a><\/strong><strong> is eyeing expansion into Saudi Arabia<\/strong>, among other markets as it seeks to scale up its operations globally, the company\u2019s founder and CEO Ranjan Reddy told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/cybersecurity-startup-bureau-raises-30-mln-sorenson-capital-paypal-2024-12-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Bureau recently closed a USD 30 mn funding round led by <a target=\"_blank\" href=\"https:\/\/www.sorensoncapital.com\/\" style=\"\" rel=\"noopener\">Sorenson Capital<\/a> and was valued at USD 150 mn in a Series B funding round.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Investment funds <\/strong><strong>in the Kingdom saw the value of their assets go up 14.4% y-o-y in <\/strong><strong>3Q <\/strong><strong>2024 to SAR 23.6 bn<\/strong>, according to a Capital Markets Authority\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1834.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Saudi flight routes are among the world\u2019s busiest: <\/strong>The Cairo-Jeddah route was the second-most busiest international flight route in 2024, with 5.5 mn seats booked, according to a <a target=\"_blank\" href=\"https:\/\/www.oag.com\/busiest-routes-world-2024\" style=\"\" rel=\"noopener\">report<\/a> from UK-based travel data provider <a target=\"_blank\" href=\"https:\/\/www.oag.com\/\" style=\"\" rel=\"noopener\">OAG<\/a>. This marks a 14% y-o-y increase and a 62% rise from 2019. Meanwhile, the Dubai-Riyadh route landed in the sixth spot, with 4.3 mn seats, marking an 8% y-o-y increase and a 37% rise from 2019. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- The Jeddah-Riyadh route was the sixth-most busiest domestic route globally<\/strong>, with 8.7 mn seats booked. Moreover, it was the world\u2019s fastest-growing route, with a 10% y-o-y increase.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong> <strong>Consumer spending via point-of-sale transactions in the Kingdom fell 9.7% w-o-w for <\/strong><strong>the week ending 14 December to SAR 12.8 bn<\/strong>, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1761.pdf\" style=\"\" rel=\"noopener\">Saudi Central Bank\u2019s (Sama) weekly transactions report (pdf)<\/a>. Similarly, the number of transactions went down 4.1% to 212.7 mn transactions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> Spending was highest in the restaurants and cafes sector at SAR 1.97 bn, followed by food and beverage (SAR 1.86 bn). Riyadh led the pack in terms of weekly spending with SAR 4.5 bn across 67.9 mn transactions. Jeddah and Dammam followed with SAR 1.8 bn and SAR 640.3 mn, respectively.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Mineral exploration spending in the Kingdom logged 40% annual growth to reach SAR <\/strong><strong>500 mn per sqkm<\/strong>, higher than the average global growth rate of 6%, Industry and Mineral Resources Deputy Minister Khalid Al Mudaifer told <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/12\/17\/article_2754343.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a>. The specific time period was not mentioned.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Private sector exports that were backed by letters of credit from commercial banks <\/strong><strong>grew 21.1% y-o-y in 3Q 2024 to SAR 40.4 bn<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2229432\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reports, citing central bank data. GCC nations were Saudi Arabia\u2019s top export market with SAR 25.8 bn, accounting for 64% of the Kingdom\u2019s exports during the period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OIL WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Kingdom saw its oil exports hit a four-month high in October at 5.93 mn bbl \/ d<\/strong>, adding 174k bbl \/ d m-o-m, <a target=\"_blank\" rel=\"noopener\">Reuters<\/a> reports, citing data from the Joint Organizations Data Initiative. Meanwhile, crude production logged a marginal drop of 3k bbl \/ d during the month to reach 8.97 mn bb \/ d.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bcbe499a-5e67-420b-ae35-54ad983a4b36\/%253cmark%253e%253c%2Fmark%253euk%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eprime%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eminister%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253elands%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253egcc%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253etoday%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Earlier this month<\/a>, Opec+ <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bcbe499a-5e67-420b-ae35-54ad983a4b36\/%253cmark%253e%253c%2Fmark%253euk%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eprime%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eminister%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253elands%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253egcc%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253etoday%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">pushed back<\/a> the start date of production increases by three months to April 2025, with the overall production increases slated to be gradually implemented until the end of 2026.<\/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 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>One single story is on every front page this morning: <\/strong>The Federal Reserve has slashed rates for the third time this year but will be more cautious moving forward, Fed Chair Jerome Powell said in remarks that sent US stocks falling. (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/12\/18\/fed-rate-decision-december-2024-.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-18\/fed-lowers-rates-by-quarter-point-signals-two-cuts-for-2025?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/500f561c-09f1-4e7e-a63c-b2a082ef8b55\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/stocks-markets-rates-nissan-2b868351d485db56e9c80f520c97b595\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/us-federal-reserve-interest-rate-decision-live-2024-12-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have the full story in this morning\u2019s Planet Finance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN TECH NEWS- <\/strong>The US Supreme Court <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/us-supreme-court-consider-tiktok-bid-halt-ban-2024-12-18\/\" style=\"\" rel=\"noopener\">will next month hear<\/a> TikTok\u2019s challenge to a law that could potentially ban the application in the US. Meanwhile, the <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-18\/eu-escalates-pressure-on-apple-to-open-up-its-features-to-rivals?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">EU is pushing Apple<\/a> to make its operating system more compatible with rivals. <\/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>#1- The three-day <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.futuremineralsforum.com\/\" style=\"\" rel=\"noopener\">Future Minerals Forum<\/a><\/strong><strong> kicks off on 14 January at Riyadh\u2019s King <\/strong><strong>Abdulaziz International Conference Center.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The three-day <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.futurehospitality.com\/sa\" style=\"\" rel=\"noopener\">Future Hospitality Forum<\/a><\/strong><strong> opens its doors 11 May at the Mandarin <\/strong><strong>Oriental Al Faisaliah<\/strong>, Riyadh. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The three-day <\/strong><strong><a target=\"_blank\" href=\"https:\/\/therff.com\/new\/index_en.php\" style=\"\" rel=\"noopener\">Real Estate Future Forum<\/a><\/strong><strong> kicks off on 27 January at the Four Seasons<\/strong>, Riyadh. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- The Money 20\/20 fintech conference will run from 15-17 September 2025.<\/strong> As a global hub for payments, banking, and financial services innovation, Money 20\/20 promises to bring together industry leaders to shape the future of fintech.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n 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class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"92677\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/itmam-consulting-issues-prospectus-for-nomu-ipo\/\">\r\n                            Itmam Consulting issues prospectus for Nomu IPO                        <\/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     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   <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/itmam-consulting-issues-prospectus-for-nomu-ipo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92678\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/itmam-consulting-issues-prospectus-for-nomu-ipo\/2412-jpg-42\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2412.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92677\" class=\"content-area-description single-story post-92677 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-capital-markets tag-enterpriseam-ksa tag-ipo-watch tag-nomu tag-tadawul 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\/.899fe40a-a4e1-4236-9948-9ae01dc77233.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong><a target=\"_blank\" href=\"https:\/\/itmam.sa\/en\" style=\"\" rel=\"noopener\">Itmam<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/itmam.sa\/en\" style=\"\" rel=\"noopener\">Consulting<\/a><\/strong><strong> is taking a 14.3% stake <\/strong><strong>to Tadawul\u2019s<\/strong><strong> parallel market<\/strong><strong> Nomu<\/strong>, the firm said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1753.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a> for the offering. Some 3 mn shares will be up for grabs, out of which 1 mn are newly-issued stocks. The Riyadh-based business consulting service lined up Capital Market Authority approval for the move <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6a922a0c-c70a-4ba2-85bb-bcd1403bb75d\/bank-albilad%25e2%2580%2599s-csop-msci-hong-kong-china-etf-starts-trading-on-tadawul-today\" style=\"\" rel=\"noopener\">back in October<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qualified investors can subscribe to the IPO between 5-12 January.<\/strong> They can book up to 1 mn shares each with the minimum amount set at 100 shares. The final allocation is slated for Wednesday, 15 January.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Net proceeds from the sale will be used to finance the company\u2019s working capital<\/strong> to support its expansion plans. Some SAR 3 mn from the proceeds will be earmarked to cover the offering\u2019s expenses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Post-IPO structure + lockup period:<\/strong> Itmam\u2019s seven major shareholders will see their ownership diluted to a combined 80.6%, down from their current 94%, and will be subject to a 12-month lock-up period from the first day of trading.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Earnings snapshot: <\/strong>The company posted SAR 6.7 mn in net income for 1H 2024, up from SAR 4.1 mn in 1H 2023, according to its latest financial results in the prospectus. Meanwhile, revenues came in at SAR 27.7 mn in the first half of the year, down from 36.5 mn during the same period last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About <\/strong><strong>Itmam<\/strong><strong>: <\/strong>Established in 2018 and headquartered in Riyadh, Itmam Consulting provides management consulting services operating in administrative restructuring, compliance evaluation, market research, business accelerators, upskilling and event management. Its services extend to sectors such as construction, manufacturing, IT, real estate, education, healthcare, and energy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- Yaqeen Capital <\/strong>is quarterbacking the transaction as lead manager and financial advisor, while RSM acts as legal accountant. Receiving agents include Alistithmar Capital, Alinma Investment, SNB Capital, AlJazira Capital, and Riyadh Capital, among others. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nomu\/\">Nomu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tadawul\/\">Tadawul<\/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=\"92679 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"92679\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/92679\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92679\" class=\"content-area-description single-story post-92679 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1836.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92680\" 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=\"92680\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">HOSPITALITY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/hotel-occupancy-at-55-4-in-2q-with-longer-stays-gastat\/\">\r\n                            Hotel occupancy at 55.4% in 2Q with longer stays - Gastat                        <\/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\/19\/hotel-occupancy-at-55-4-in-2q-with-longer-stays-gastat\/\" 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\/19\/hotel-occupancy-at-55-4-in-2q-with-longer-stays-gastat\/')\">\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\/19\/hotel-occupancy-at-55-4-in-2q-with-longer-stays-gastat\/\">\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=Hotel occupancy at 55.4% in 2Q with longer stays -Gastat&url=https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/hotel-occupancy-at-55-4-in-2q-with-longer-stays-gastat\/\">\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\/19\/hotel-occupancy-at-55-4-in-2q-with-longer-stays-gastat\/&title=Hotel occupancy at 55.4% in 2Q with longer stays -Gastat\">\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=Hotel+occupancy+at+55.4%25+in+2Q+with+longer+stays+-Gastat+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F12%2F19%2Fhotel-occupancy-at-55-4-in-2q-with-longer-stays-gastat%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\/19\/hotel-occupancy-at-55-4-in-2q-with-longer-stays-gastat\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1588.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92681\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/hotel-occupancy-at-55-4-in-2q-with-longer-stays-gastat\/1588-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1588.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1588.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1588.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1588.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92680\" class=\"content-area-description single-story post-92680 post type-post status-publish format-standard has-post-thumbnail hentry category-hospitality tag-enterpriseam-ksa tag-general-authority-for-statistics tag-hospitality tag-tourism 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\/.15c85a85-a6bf-4fa2-b991-94370ab78983.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Kingdom\u2019s hotel room occupancy rates reached 55.4% in 2Q<\/strong>, up 0.5 percentage points from 2Q 2023, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1746.pdf\" style=\"\" rel=\"noopener\">a General Authority for Statistics report (pdf)<\/a>. Meanwhile, occupancy rates for serviced apartments and other hospitality facilities rose by 1.5 pp to 52.4%, during the same period. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How long are guests staying?<\/strong> The average length of stay for hotel guests increased by 17.6% y-o-y in 2Q 2024, to 5.2 nights. However, stays in serviced apartments and other facilities were shorter, averaging 2.1 nights, down 10.9% y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The going room rates: <\/strong>The average daily rate for hotel rooms inched down 0.4% y-o-y to SAR 725.5, whereas the rates for serviced apartments and other facilities were up 15.2% y-o-y, averaging SAR 254.3. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tourism workforce breakdown: <\/strong>Tourism workers represented 5.7% of the total workforce in 2Q 2024, down 0.2 percentage points y-o-y and 8.6% of the private sector workforce, a 0.5 percentage point y-o-y decline. The sector employed 959.2k workers, a 5.1% y-o-y increase, with Saudis making up 25.6%. Male workers made up 86.6% of the workforce, while females constituted 13.4%. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/general-authority-for-statistics\/\">General Authority for Statistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tourism\/\">tourism<\/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=\"92682\" 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=\"92682\">\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\">RENEWABLES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/acwa-power-breaks-ground-on-five-uzbek-ventures\/\">\r\n                            Acwa Power breaks ground on five Uzbek ventures                        <\/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\/19\/acwa-power-breaks-ground-on-five-uzbek-ventures\/\" 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\/19\/acwa-power-breaks-ground-on-five-uzbek-ventures\/')\">\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\/19\/acwa-power-breaks-ground-on-five-uzbek-ventures\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Acwa Power breaks ground on five Uzbek ventures&url=https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/acwa-power-breaks-ground-on-five-uzbek-ventures\/\">\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\/19\/acwa-power-breaks-ground-on-five-uzbek-ventures\/&title=Acwa Power breaks ground on five Uzbek ventures\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Acwa+Power+breaks+ground+on+five+Uzbek+ventures+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F12%2F19%2Facwa-power-breaks-ground-on-five-uzbek-ventures%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\/19\/acwa-power-breaks-ground-on-five-uzbek-ventures\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1795.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92683\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/acwa-power-breaks-ground-on-five-uzbek-ventures\/1795-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1795.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1795.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1795.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1795.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92682\" class=\"content-area-description single-story post-92682 post type-post status-publish format-standard has-post-thumbnail hentry category-renewables tag-acwa-power tag-enterpriseam-ksa tag-renewables tag-solar-energy tag-wind-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.ba6193c7-ac13-48bf-be66-e7cabe4a0818.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Homegrown renewables giant Acwa Power broke ground on two solar <\/strong><strong>plants <\/strong><strong>in Samarkand, Uzbekistan<\/strong>, with a combined capacity of 1 GW, according to a <a target=\"_blank\" href=\"https:\/\/gov.uz\/en\/minenergy\/news\/view\/30273\" style=\"\" rel=\"noopener\">statement<\/a> by the Uzbek government. The firm has also connected two 500 MW wind projects in Bukhara to the national grid, along with launching a 334 MW Battery Energy Storage System (BESS) in Tashkent. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa Power\u2019s latest ventures in Uzbekistan have brought its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/894a823e-708d-4eec-a245-c7fbfd204673\/acwa-%2B-sumitomo-to-develop-2.5-gw-worth-of-renewables-in-uzbekistan\" style=\"\" rel=\"noopener\">10-year green energy<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/894a823e-708d-4eec-a245-c7fbfd204673\/acwa-%2B-sumitomo-to-develop-2.5-gw-worth-of-renewables-in-uzbekistan\" style=\"\" rel=\"noopener\">portfolio<\/a><\/strong><strong> in the country to a total of USD 15 bn,<\/strong> with four projects \u2014 worth a combined USD 3 bn \u2014 already sealed, according to the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Earlier in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/894a823e-708d-4eec-a245-c7fbfd204673\/acwa-%2B-sumitomo-to-develop-2.5-gw-worth-of-renewables-in-uzbekistan\" style=\"\" rel=\"noopener\">October<\/a>, Acwa Power signed a joint development agreement with Japan\u2019s Sumitomo Corporation to develop 2.5 GW worth of renewable energy projects and nearly 1 GW worth of battery energy storage systems (BESS) in Uzbekistan valued at USD 4.2 bn. The first set of projects \u2014 the Sazagan 1 and 2 solar farms \u2014 are located in Samarkand, with each boasting a 500 MW capacity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tracing the USD trail: <\/strong>Acwa Power <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/53f2cd9e-8323-47ef-b575-7a85d277ff13\" style=\"\" rel=\"noopener\">recently tapped<\/a> the <a target=\"_blank\" href=\"https:\/\/opecfund.org\/\" style=\"\" rel=\"noopener\">Opec Fund for International<\/a><a target=\"_blank\" href=\"https:\/\/opecfund.org\/\" style=\"\" rel=\"noopener\">Development<\/a> to help finance its two wind projects \u2014 a USD 658 mn <a target=\"_blank\" href=\"https:\/\/acwapower.com\/en\/projects\/dzhankeldy-wind-ipp\/\" style=\"\" rel=\"noopener\">500 MW wind farm in Dzhankeldy<\/a> and a USD 690 mn <a target=\"_blank\" href=\"https:\/\/acwapower.com\/en\/projects\/bash-wind-ipp\/\" style=\"\" rel=\"noopener\">500 MW wind plant in Bash<\/a> \u2014 snapping up two USD 20 loans for the move. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the wind farms: <\/strong>The developments include two transmission lines, one extending 128 km for Dzhankeldy and one 160 km long for Bash. The company signed 25-year power purchase agreements with the National Electrical Grid of Uzbekistan for both projects.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/acwa-power\/\">ACWA power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/renewables\/\">RENEWABLES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/solar-energy\/\">solar energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/wind-energy\/\">wind energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92684\" 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=\"92684\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/ai-startup-omniops-raises-sar-30-mn-to-fuel-growth\/\">\r\n                            AI startup OmniOps raises SAR 30 mn to fuel growth                        <\/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\/19\/ai-startup-omniops-raises-sar-30-mn-to-fuel-growth\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The statement did not disclose at which funding stage the company is currently at, and whether the investment was debt or equity-based.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch:<\/strong> \u201cOptimizing AI infrastructure and workloads through OmniOps helps our clients achieve a potential 50% reduction in GPU power consumption and double their workload speed, resulting in up to 14x improvement in GPU inference efficiency.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the funds are going<\/strong>: The funding will be used to \u201cscale its operations, enhance R&D, and advance AI infrastructure,\u201d the statement read. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About OmniOps:<\/strong> Founded in 2024 by Mohammed Altassan (<a target=\"_blank\" href=\"https:\/\/sa.linkedin.com\/in\/mohammed-altassan-60486139\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), OmniOps specializes in high-performance computing and AI solutions, assisting local businesses and government organizations in deploying and scaling AI technologies. The company builds custom, energy-efficient systems and is developing AI tools to drive digital transformation. OmniOps has worked with clients such as Saudia Airlines and CNTXT.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/artificial-intelligence\/\">artificial intelligence<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startups\/\">Startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92686\" 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=\"92686\">\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\">KUDOS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/awards-all-around\/\">\r\n                            Awards for telecom companies + best places to work                        <\/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\/19\/awards-all-around\/\" 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\/19\/awards-all-around\/')\">\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\/19\/awards-all-around\/\">\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=Awards all around&url=https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/awards-all-around\/\">\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\/19\/awards-all-around\/&title=Awards all around\">\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=Awards+all+around+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F12%2F19%2Fawards-all-around%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\/19\/awards-all-around\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1847.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92687\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/awards-all-around\/1847-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1847.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1847.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1847.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1847.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92686\" class=\"content-area-description single-story post-92686 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-enterpriseam-ksa tag-first-milling tag-integrated-telecom-company-salam tag-king-fahd-international-airports tag-kudos tag-mobily tag-stc tag-zain-ksa 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\/.f8fab70f-21b6-4ec7-875c-512ec98eb934.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1-<\/strong> <strong>Local telecom companies shined at the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.telecomreviewafrica.com\/articles\/reports-and-coverage\/4610-telecom-review-excellence-awards-2024-meet-the-winners\/\" style=\"\" rel=\"noopener\">Telecom Review Excellence<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.telecomreviewafrica.com\/articles\/reports-and-coverage\/4610-telecom-review-excellence-awards-2024-meet-the-winners\/\" style=\"\" rel=\"noopener\">Awards<\/a><\/strong> \u2014 where STC was recognized as the best fixed 5G network provider in the Middle East, while also landing an award for the best AI Application for Telco alongside Nokia Networks and Solutions. Additionally, its Bahrain unit\u2019s technology deployment was recognized as the best in the region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also recognized by Telecom Review: <\/strong><\/p>\n<ul>\n<li><strong>Zain KSA<\/strong> was named the best 5G-advanced business innovation and the best BSS\/OSS solution operator in the region; <\/li>\n<li>The best wholesale company award in the Middle East went to <strong>Mobily<\/strong>;<\/li>\n<li><strong>Integrated<\/strong><strong> Telecom Company (Salam)<\/strong> was recognized as the best mobile virtual network operator in the region. <\/li>\n<\/ul>\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- Dammam\u2019s King Fahd International Airport achieved a record-breaking performance <\/strong><strong>this year<\/strong>, with the number of passengers reaching a record 12 mn between January and mid-December, marking a 15% y-o-y increase, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2229339\" style=\"\" rel=\"noopener\">SPA reports<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Flight traffic also rose by 5% y-o-y to 99k flights<\/strong>, while setting new records for daily operations with 50k passengers served in a single day and 374 flights handled on 13 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/bestplacestoworkfor.org\/employers-of-choice\/press\/the-top-workplaces-in-saudi-for-2024-revealed\" style=\"\" rel=\"noopener\">best places to work<\/a><\/strong><strong> in 2024:<\/strong> In the Large Companies Category (Over 1001 employees), <strong>Roshn <\/strong>claimed the top spot for its commitment to fostering an inclusive and engaging work environment. In the Mid-Size Companies Category (101\u20131000 employees), <strong>First Milling Company<\/strong> led the rankings, recognized for its pivotal role in Saudi Arabia\u2019s food sector. Meanwhile, in the Small Companies Category (Less than 100 employees), <strong>Alnahdi Family Office <\/strong>secured first place, praised for its exceptional workplace culture and efficient team practices.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/first-milling\/\">First Milling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/integrated-telecom-company-salam\/\">Integrated Telecom Company (Salam)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/king-fahd-international-airports\/\">King Fahd International Airports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mobily\/\">Mobily<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/stc\/\">STC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/zain-ksa\/\">Zain KSA<\/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=\"92688\" 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=\"92688\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/new-appointments-at-al-saif-stores-almujtama-medical\/\">\r\n                            New appointments at Al Saif Stores + Almujtama Medical                        <\/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\/19\/new-appointments-at-al-saif-stores-almujtama-medical\/\" 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\/19\/new-appointments-at-al-saif-stores-almujtama-medical\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/new-appointments-at-al-saif-stores-almujtama-medical\/&title=New appointments at Al Saif Stores + Almujtama Medical\">\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=New+appointments+at+Al+Saif+Stores+%2B+Almujtama+Medical+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F12%2F19%2Fnew-appointments-at-al-saif-stores-almujtama-medical%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\/19\/new-appointments-at-al-saif-stores-almujtama-medical\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1845.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92689\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/new-appointments-at-al-saif-stores-almujtama-medical\/1845-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1845.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1845.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1845.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1845.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92688\" class=\"content-area-description single-story post-92688 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-al-saif-stores-development-and-investment-company tag-almujtama-alraida-medical-company tag-enterpriseam-ksa tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.a1aee535-c5bc-4842-9b2f-0b574237ca65.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Almujtama Alraida Medical appointed <\/strong><strong>Abdulaziz Omar Khojah<\/strong><strong> as its CEO<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=84228&anCat=1&cs=9592&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><strong>Al Saif Stores Development and Investment<\/strong><strong> tapped Ahmed Alsultan (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ahmed-alsultan-9a0aa26a\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) as <\/strong><strong>its new <\/strong><strong>CEO<\/strong>, following the resignation of Mohammed Al Saif, according to two separate filings to the exchange (<a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=84221&anCat=1&cs=4192&locale=en\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=84218&anCat=1&cs=4192&locale=en\" style=\"\" rel=\"noopener\">here<\/a>). Alsultan was previously the CEO of Thobe Al Aseel, and he has been a member of Al Saif\u2019s BoD since 2022. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-saif-stores-development-and-investment-company\/\">Al Saif Stores Development and Investment Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/almujtama-alraida-medical-company\/\">Almujtama Alraida Medical Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92690\" 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=\"92690\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/its-a-mixed-bag-for-the-kingdom-in-the-intl-press\/\">\r\n                            It\u2019s a mixed bag for the Kingdom in the int\u2019l press                        <\/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\/19\/its-a-mixed-bag-for-the-kingdom-in-the-intl-press\/\" 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\/19\/its-a-mixed-bag-for-the-kingdom-in-the-intl-press\/')\">\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\/19\/its-a-mixed-bag-for-the-kingdom-in-the-intl-press\/\">\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=It\u2019s a mixed bag for the Kingdom in the int\u2019l press&url=https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/its-a-mixed-bag-for-the-kingdom-in-the-intl-press\/\">\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\/19\/its-a-mixed-bag-for-the-kingdom-in-the-intl-press\/&title=It\u2019s a mixed bag for the Kingdom in the int\u2019l press\">\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=It%E2%80%99s+a+mixed+bag+for+the+Kingdom+in+the+int%E2%80%99l+press+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F12%2F19%2Fits-a-mixed-bag-for-the-kingdom-in-the-intl-press%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\/19\/its-a-mixed-bag-for-the-kingdom-in-the-intl-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1841.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92691\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/its-a-mixed-bag-for-the-kingdom-in-the-intl-press\/1841-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1841.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1841.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1841.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1841.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92690\" class=\"content-area-description single-story post-92690 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-diplomacy tag-enterpriseam-ksa tag-saudi-in-the-news tag-sports 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\/.d4997ed5-53d5-4357-a5a9-b98bc06bb538.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/breakingviews\/saudis-sports-ma-splurge-will-get-smarter-2024-12-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong><strong> is taking note of the PIF\u2019s<\/strong><strong> shifting game plan in the sports world<\/strong>. After making splashy investments in men\u2019s soccer and golf \u2014 think Newcastle United, LIV Golf, and Neymar \u2014 the newswire sees PIF\u2019s sports M&A strategy getting \u201csmarter\u201d in 2025 by targeting smaller but faster-growing leagues such as women\u2019s soccer and rugby. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While these might seem too niche to move the needle, they fit the fund\u2019s broader strategy<\/strong> of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5416e4f3-ab0d-414f-8af2-d711ca917ed3\/another-day,-more%253cmark%253e-pif%253c%2Fmark%253e-spotlight\" style=\"\" rel=\"noopener\">scaling back foreign investments<\/a> from 30% to about 20% of its portfolio. Smaller investments with higher growth potential could be the winning formula, the newswire writes. <\/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>IN DIPLOMACY-<\/strong> <a target=\"_blank\" href=\"https:\/\/www.jpost.com\/middle-east\/article-833866\" style=\"\" rel=\"noopener\">The Jerusalem Post<\/a> is spotlighting the Kingdom\u2019s firm stance on potentially establishing diplomatic ties with Israel, writing that Saudi will not entertain normalization talks until the war in Gaza ends, government officials reportedly told members of US President-elect Donald Trump\u2019s Middle East team, including incoming envoy Steve Witkoff. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong><a target=\"_blank\" href=\"https:\/\/archive.is\/wGZv2\" style=\"\" rel=\"noopener\">Haaretz<\/a> alleges that behind-the-scenes talks led to a tentative breakthrough, with Israel allegedly agreeing to a vague \u201cpath toward Palestinian statehood\u201d rather than explicit recognition, in a bid to secure domestic and political support on both sides. The proposed framework reportedly ties normalization to a two-phase hostage agreement with Hamas, potentially unlocking Saudi-led Gaza reconstruction efforts backed by international coalitions.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92692\" 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=\"92692\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/heathrow-airport-plans-gbp-2-3-bn-facilities-investment-following-pif-stake-acquisition\/\">\r\n                            Heathrow Airport plans GBP 2.3 bn facilities investment following PIF stake 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\/19\/heathrow-airport-plans-gbp-2-3-bn-facilities-investment-following-pif-stake-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(); 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acquisition&url=https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/heathrow-airport-plans-gbp-2-3-bn-facilities-investment-following-pif-stake-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\/19\/heathrow-airport-plans-gbp-2-3-bn-facilities-investment-following-pif-stake-acquisition\/&title=Heathrow Airport plans GBP 2.3 bn facilities investment following PIF stake 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=Heathrow+Airport+plans+GBP+2.3+bn+facilities+investment+following+PIF+stake+acquisition+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F12%2F19%2Fheathrow-airport-plans-gbp-2-3-bn-facilities-investment-following-pif-stake-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\/19\/heathrow-airport-plans-gbp-2-3-bn-facilities-investment-following-pif-stake-acquisition\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1285.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92693\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/heathrow-airport-plans-gbp-2-3-bn-facilities-investment-following-pif-stake-acquisition\/1285-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1285.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1285.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1285.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1285.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92692\" class=\"content-area-description single-story post-92692 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-desalination tag-enterpriseam-ksa tag-heathrow-airport tag-sal-saudi-logistics tag-saudi-ports-authority 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\/.085e9bba-f028-49c8-8688-6e0f7137526c.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1-<\/strong> <strong>PIF-backed Heathrow Airport plans to invest over GBP 2.3 bn to <\/strong><strong>revamp its facilities <\/strong>following the Saudi sovereign wealth fund\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7810ff4f-ba90-4422-92b3-3fd604af011e\" style=\"\" rel=\"noopener\">acquisition of a 15% stake<\/a> in the UK\u2019s largest airport, <a target=\"_blank\" href=\"https:\/\/www.telegraph.co.uk\/business\/2024\/12\/18\/heathrow-to-get-23bn-upgrade-after-saudi-arabia-takes-stake\/\" style=\"\" rel=\"noopener\">The Telegraph<\/a> reports. The upgrade, which the airport billed as the biggest private sector investment ever in the UK transport sector, will target baggage systems, runway resurfacing, and security scanners.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Flyadeal launched an annual domestic travel program offering three membership plans <\/strong><strong>for regular travelers<\/strong> to help travelers budget their expenses and avoid ticket price fluctuations, according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/flyadeal-launches-annual-domestic-travel-initiative-ihkjvb8k\" style=\"\" rel=\"noopener\">a press release<\/a>. The offered plans include SAR 298 for 12 round-trip flights, SAR 599 for 24, and SAR 889 for 36.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Sal eyes expanding logistics services in Hail Region:<\/strong> Logistics firm <a target=\"_blank\" href=\"https:\/\/sal.sa\/home\" style=\"\" rel=\"noopener\">Sal<\/a> signed an agreement with <a target=\"_blank\" href=\"https:\/\/cluster2airports.sa\/en-us\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Cluster2 Airports<\/a> and the <a target=\"_blank\" href=\"http:\/\/hrda.gov.sa\/en\/home\" style=\"\" rel=\"noopener\">Hail Region Development Authority<\/a> to expand logistics services at the Hail International Airport to facilitate regional exports and imports, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/sal-strengthens-its-position-in-saudi-arabias-logistics-sector-with-strategic-partnerships-hhvalgmf\" style=\"\" rel=\"noopener\">press release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> Sal tapped PIF-owned IT solutions firm <a target=\"_blank\" href=\"https:\/\/www.elm.sa\/en\/pages\/default.aspx\" style=\"\" rel=\"noopener\">Elm<\/a> to develop digital solutions for streamlining customer experience and boosting operational efficiency. Elm will also help Sal deploy truck scheduling systems and payment platforms, as well as integrate Sal with the Zakat, tax and Customs Authority platform, and the online platform for Interior Services Ministry Absher.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Mawani adds new shipping service to Jeddah Islamic Port:<\/strong> The Saudi Ports Authority (Mawani) added Similar Group\u2019s MXS1 service to Jeddah Islamic Port, it said in a <a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=0191224&language=ar\" style=\"\" rel=\"noopener\">statement<\/a>. The new service, which has nearly 2.1k in standard container capacity, will link the Jeddah port to the ports of Mundra in India, Karachi in Pakistan, Mersin and Yarimca in Turkey, and Jebel Ali in the UAE.<\/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\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi Water Authority terminated its USD 317 mn desalination plant contract with <\/strong><strong>India-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wabag.com\/\" style=\"\" rel=\"noopener\">VA Tech Wabag<\/a><\/strong> following the authority\u2019s \u201cinternal administrative procedures,\u201d Wabag said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1754.pdf\" style=\"\" rel=\"noopener\">filing to the Bombay Exchange (pdf)<\/a>. No further details were provided. Wabag is seeking clarification from the authority.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the facility: <\/strong>The desalination plant was set to be built in Yanbu with a capacity to produce 300 mn liters of fresh water per day. The Saudi Water Authority awarded Wabag an EPCC contract <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/316ef62e-6b70-44f8-8aa8-0ee9ca3d6e93\/indian-firms-land-major-infrastructure-contracts-in-the-kingdom\" style=\"\" rel=\"noopener\">in September<\/a> to execute the project within 30 months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Several residential compounds in Riyadh received off-plan sale licenses from the Real <\/strong><strong>Estate General Authority<\/strong>, according to posts on X. These include <a target=\"_blank\" href=\"https:\/\/x.com\/REGA_KSA\/status\/1869302034916376892\" style=\"\" rel=\"noopener\">Banan BB II<\/a> by <a target=\"_blank\" href=\"https:\/\/talaatmoustafa.sa\/\" style=\"\" rel=\"noopener\">Talaat Moustafa Group SA<\/a>, <a target=\"_blank\" href=\"https:\/\/x.com\/REGA_KSA\/status\/1869300528934768916\" style=\"\" rel=\"noopener\">Majd Compound 41<\/a> by <a target=\"_blank\" href=\"https:\/\/mjdksa.com\/en\/home\/\" style=\"\" rel=\"noopener\">Majd Real Estate Development Company<\/a>, <a target=\"_blank\" href=\"https:\/\/x.com\/REGA_KSA\/status\/1869301664085414064\" style=\"\" rel=\"noopener\">Neptune<\/a> by <a target=\"_blank\" href=\"https:\/\/www.daralarkan.com\/project\/\" style=\"\" rel=\"noopener\">Dar Al Arkan Global Holding Company<\/a>, <a target=\"_blank\" href=\"https:\/\/x.com\/REGA_KSA\/status\/1869301350322085939\" style=\"\" rel=\"noopener\">Iwan Sidra 4<\/a> by <a target=\"_blank\" href=\"https:\/\/retal.com.sa\/en\/about\/\" style=\"\" rel=\"noopener\">Retal Real Estate Development Company<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.jeddahfront.sa\/en\" style=\"\" rel=\"noopener\">Jeddah Front<\/a> \u2019s <a target=\"_blank\" href=\"https:\/\/x.com\/REGA_KSA\/status\/1869300383920931277\" style=\"\" rel=\"noopener\">flagship project<\/a>. All projects are backed by escrow accounts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco, Adnoc, and Emirates National Oil Company extended their oil supply agreement <\/strong><strong>with Kenya<\/strong>, following a green light from the Kenyan cabinet, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/kenya-extends-petroleum-supply-deal-with-gulf-firms-2024-12-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. It wasn\u2019t clear from the cabinet\u2019s decision how long the extension will run.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the agreement:<\/strong> The agreement, which was initially signed in March 2023 and first extended in September 2023, includes 180-day credit terms, giving more room to Kenya to line up USD for oil purchases, instead of making monthly payments of USD 500 mn.<\/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\">BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- D360 Bank launches operations: <\/strong>Digital bank <a target=\"_blank\" href=\"https:\/\/d360.com\/en\" style=\"\" rel=\"noopener\">D360<\/a> received permission from the Saudi Central Bank to kick off its operations, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2229282\" style=\"\" rel=\"noopener\">state press agency SPA<\/a> reports. D360 is a shariah-compliant digital bank and is one of three licensed digital banks in the Kingdom. <a target=\"_blank\" href=\"https:\/\/web.derayah.com\/ar\/\" style=\"\" rel=\"noopener\">Dereyah<\/a> and the Public Investment Fund are among its strategic investors.<\/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\">GAMING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Neom Media\u2019s gaming division launched the Publishing Partner Network to help boost <\/strong><strong>the visibility of local game studios<\/strong> and assist them in connecting with global publishing companies, according to <a target=\"_blank\" href=\"https:\/\/www.neom.com\/en-us\/newsroom\/neom-media-partners-with-global-game-publishers\" style=\"\" rel=\"noopener\">a press release<\/a>. The initiative was launched under Neom Media\u2019s Level Up accelerator program, which supports startups through funding and mentorship. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Four companies so far have joined the network as publishing partners<\/strong>, including Kwalee, Sandsoft, Tamatem Games, and Black Smoke Studios as publishing partners.<\/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\">FINANCIAL SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.alrajhibank.com.sa\/EN\" style=\"\" rel=\"noopener\">Alrajhi Bank<\/a><\/strong><strong> launched the Marriott Bonvoy AlRajhi Bank Credit Card in partnership with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.marriott.com\/default.mi\" style=\"\" rel=\"noopener\">Marriott Bonvoy<\/a><\/strong>, Marriott International\u2019s global travel program, according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/alrajhi-bank-and-marriott-bonvoy-announce-cobrand-visa-infinite-credit-card-in-saudi-arabia-lzihsxh3\" style=\"\" rel=\"noopener\">a press release<\/a>. The new card is tailored for travelers, allowing them to earn rewards and benefits on their purchases.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Schuler to install press shop at Ceer\u2019s facility: <\/strong>Homegrown EV manufacturer Ceer tapped Germany-based <a target=\"_blank\" href=\"https:\/\/www.schulergroup.com\/?sLang=en\" style=\"\" rel=\"noopener\">Schuler<\/a>, the world's largest press manufacturer, will install the company\u2019s first fully automatic press shop at its manufacturing complex in King Abdullah Economic City, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/ceer-and-schuler-partner-for-building-the-most-advanced-press-shop-in-mena-ptg7kbvn\" style=\"\" rel=\"noopener\">press release<\/a>. No details were provided on the investment ticket.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CONSTRUCTION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nomu-listed construction firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/mbg.sa\/\" style=\"\" rel=\"noopener\">Multi Business Group (MBG)<\/a><\/strong><strong> agreed to build a sports club<\/strong> <strong>in King Abdullah Financial District for <\/strong><strong><a target=\"_blank\" href=\"https:\/\/leejam.com.sa\/\" style=\"\" rel=\"noopener\">Leejam Sports<\/a><\/strong> under a seven-month contract they signed, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=84226&anCat=1&cs=9619&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> from MBG. The contract was valued at 10% of MBG\u2019s 2023 revenues, which amounts to SAR 12.5 mn, according to our math.<\/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\">FINTECH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arabia Ins. rolls out a pay as you go auto ins.: <\/strong>Arabia Ins. Cooperative scored regulatory approval from the Ins. Authority to launch a Pay as You Go ins. product for private vehicles, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=84225&anCat=1&cs=8160&locale=en\" style=\"\" rel=\"noopener\">filing to Tadawul<\/a>. The new scheme allows drivers to pay based on how much they drive.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/desalination\/\">Desalination<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/heathrow-airport\/\">Heathrow Airport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sal-saudi-logistics\/\">SAL Saudi Logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-ports-authority\/\">Saudi Ports Authority<\/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=\"92694\" 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=\"92694\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/fed-cuts-rates-by-another-25-bps-signals-slower-easing-cycle-next-year\/\">\r\n                            Fed cuts rates by another 25 bps, signals slower easing cycle next year                        <\/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\/19\/fed-cuts-rates-by-another-25-bps-signals-slower-easing-cycle-next-year\/\" 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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This brings interest rates down a full percentage point this year, after it cut rates by 50 bps in September, and by 25 bps in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/2c22a2bd-d0a6-4fe1-9209-e5df1448126c\/fed-trims-rate-cuts-by-a-further-25-bps-as-central-bankers-brace-for-an-uncertain-time-for-monetary-policy\" style=\"\" rel=\"noopener\">November<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Fed is now expected to make two rate cuts next year<\/strong>, according to the closely watched \u201cdot plot,\u201d <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/12\/18\/fed-rate-decision-december-2024-.html\" style=\"\" rel=\"noopener\">CNBC<\/a> reports \u2014 half the amount of cuts expected the last time the dot plot was updated in September. The next meeting will take place on 28-29 January. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still, all options are on the table: <\/strong>The Fed is currently not on \u201cany preset course,\u201d Powell says, and restraint can be \u201cdialed back more slowly\u201d if the economy remains strong, Fed chair Jerome Powell said in a press conference (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=9qwmZ5AMfSk\" style=\"\" rel=\"noopener\">watch,runtime: 6:53<\/a>). However, with the current, less restrictive policy stance, coming steps can be more cautious as further adjustments are considered. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflation to come in higher than expected: <\/strong>Expectations on inflation remain \u201cwell-anchored,\u201d says Powell, with numbers currently still above, but moving steadily toward, the longer term 2% goal. Officials now see inflation coming in at 2.5% by the end of next year, with the 2% target likely out of reach until 2027. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tariffs? We\u2019ll cross that bridge when we get to it:<\/strong> The effect of Donald Trump\u2019s potential tariffs on the economy is not a present situation to handle, Powell said, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/feds-powell-not-ready-say-what-trump-policies-will-do-economy-2024-12-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, with the proper assessment mainly taking place after the policies are officially issued. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong> US stocks slid after the Federal Reserve\u2019s decision, with the S&amp;P 500 falling 3%, Nasdaq sliding 3.6%, and the Dow Jones declining 2.6%.The USD also hit a two-year high on the news.<\/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 also in the red following the sell-off on Wall Street<\/strong>, with Japan\u2019s Nikkei down 1.2%, South Korea\u2019s Kospi down 1.7%, and Hong Kong\u2019s Hang Seng falling 0.9%. Wall Street futures are hovering near the flatline. <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,961<\/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: -0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,498<\/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\">+0.03% (YTD: -3.4%)<\/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>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\">31,196<\/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: +27.2%)<\/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\">5.0% 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\">4.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,503<\/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\">-0.32% (YTD: +22.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,293<\/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: -3.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,037<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +24.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,872<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.0% (YTD: +23.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,199<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +6.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,957<\/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: +9.6%)<\/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>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 72.98<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.37<\/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\">+2.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,653<\/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%<\/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 100,112<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-5.0% (YTD: +138%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI <\/strong>rose 0.1% <strong>yesterday <\/strong>on turnover of SAR 4.57 bn. The index is down 0.1% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Savola Group (+10%), UIHC (+9.0%) and Batic (+6.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Red Sea (-7.1%), Jahez (-5.1%) and Zamil Indust (-4%).<\/p>\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 0.3% <strong>yesterday <\/strong>on turnover of SAR 58.1 mn. The index is up 27.2% 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> VIEW (+30%), Leen Alkhair (+9.6%) and Yaqeen (+8.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Enma Alrawabi (-11.7%), Knowledgenet (-8.7%) and Leaf (-8.4%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/federal-reserve\/\">Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/inflation\/\">Inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/interest-rates\/\">interest rates<\/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=\"92696\" 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\/19\/92696\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92696\" class=\"content-area-description single-story post-92696 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>18-22 December (Wednesday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.atptour.com\/en\/tournaments\/next-gen-atp-finals\/7696\/overview\" style=\"\">Next Gen ATP Finals<\/a><\/span><span style=\"font-weight:400;\">, King Abdullah Sports City, Jeddah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-20 December (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.visitsaudi.com\/en\/riyadh\/events\/riyadh-season-snooker-championship\" style=\"\">Riyadh Season Snooker Championship<\/a><\/span><span style=\"font-weight:400;\">, Boulevard City, 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<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/aqaratexpo.com\/en\/home\/\" style=\"\">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>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 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>7-9 January (Tuesday-Thursday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sauditf.com\/\" style=\"\">Saudi Tourism Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12 January (Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/x.com\/mimgov\/status\/1869034963750039712\" style=\"\">Launch ceremony of the standard incentives for the industrial sector<\/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>13-16 January (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/hajjconfex.com\/\" style=\"\">Hajj Conference and Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Superdome, Jeddah. <\/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>15-16 January (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.effatuniversity.edu.sa\/english\/conferences\/lt\/pages\/default.aspx\" style=\"\">The International Learning and Technology Conference<\/a><\/span><span style=\"font-weight:400;\">, Effat University, Jeddah. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21 January (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/datacenternation.com\/dcn-riyadh-2025\/\" style=\"\">Data Center Nation<\/a><\/span><span style=\"font-weight:400;\">, Mandarin Oriental Al Fasisaliah, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-23 January (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/handlingexpo-ksa.com\/\" style=\"\">The International Exhibition for Material Handling, Equipment, Warehouse Supplies, Forklifts & Heavy Equipment<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Exhibition Center. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-23 January (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sidmc-sa.com\/\" style=\"\">Saudi International Exhibition for E-Marketing and E-Commerce<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention and Exhibition Center. <\/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>27-29 January (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudifranchiseexpo.com\/\" style=\"\">Saudi Franchise Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention and Exhibition Center. <\/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>3-5 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/en.simec-expo.com\/\" style=\"\">Saudi International Marine Exhibition (SIMEC)<\/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>4-5 February (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.prnewswire.com\/news-releases\/rlc-global-forum-debuts-in-riyadh-shaping-the-future-of-global-retail-302264227.html\" style=\"\">The RLC Global Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-5 February (Tuesday-Wednesday): Capital Markets & ESG Finance, Hilton Riyadh Hotel & Residences. <\/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 style=\"font-weight:400;\"> 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>9-12 February (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/onegiantleap.com\/\" style=\"\">LEAP Tech Conference<\/a><\/span><span style=\"font-weight:400;\">, Malham, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-12 February (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/deepfest.com\/?utm_source=google&utm_medium=paid&utm_content=delprom&utm_campaign=deepfest25&gad_source=1&gclid=CjwKCAiA34S7BhAtEiwACZzv4WynydAnL6UGiUkIxyl-k8I5UfyRJ12EttbjhQClkPb-Ma1p8VcQvRoCPn4QAvD_BwE\" style=\"\">DeepFest<\/a><\/span><span style=\"font-weight:400;\"> by Leap, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.stmksa.com\/\" style=\"\">Saudi Travel Market<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Exhibition Center.<\/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>15-18 February (Saturday-Tuesday): Week one of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.big5constructsaudi.com\/\" style=\"\">Big 5 Construct Saudi<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Exhibition & Conference Center. <\/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>23-27 February (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ridw.org\/\" style=\"\">Riyadh International Disputes Week<\/a><\/span><span style=\"font-weight:400;\">, Hilton Riyadh Hotel Granada. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-27 February (Monday-Thursday): Week two of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.big5constructsaudi.com\/\" style=\"\">Big 5 Construct Saudi<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Exhibition & Conference Center. <\/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>22-23 April (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.eventbrite.co.uk\/e\/aam-middle-east-riyadh-conference-2025-tickets-1110177433589?aff=oddtdtcreator\" style=\"\">AAM 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>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 style=\"font-weight:400;\">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>12-15 May (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-smartmanufacturing.com\/\" style=\"\">Saudi Smart Manufacturing<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-14 May (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/gemtechforum.com\/\" style=\"\">Global EV & Mobility Technology Forum<\/a><\/span><span style=\"font-weight:400;\">, The Arena, 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 May (Friday): Guns N\u2019 Roses Show, 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;\">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;\">17-18 June (Tuesday-Wednesday): US Federal Reserve\u2019s 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;\">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>15-17 September (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/money2020middleeast.com\/\" style=\"\">Money 20\/20 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>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) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wamsaudi.com\/\" style=\"\">The World Advanced Manufacturing & Logistics Saudi Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Convention & Exhibition Centre, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>December: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fortune.com\/2024\/11\/15\/fortune-global-forum-2025-riyadh-saudi-arabia\/\" style=\"\">The Fortune Global Forum 2025<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9-10 December (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">UN Trade and Development Global Supply Chain Forum <\/span><span style=\"font-weight:400;\">to take place in Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-29 October (Monday-Thursday): World Energy Congress, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The World Water Forum <\/span><span style=\"font-weight:400;\">takes place in Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The Ocean Race<\/span><span style=\"font-weight:400;\"> finishes in Amaala on the Red Sea.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Riyadh-Kudmi transmission line<\/span><span style=\"font-weight:400;\"> to be completed.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Acwa Power breaks ground on five Uzbek ventures | OmniOps raises SAR 30 mn | Al Saif Gallery appoints new CEO | Awards for telecom companies<\/p>\n","protected":false},"featured_media":92673,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-92672","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"37c96600-069f-4172-ad65-e60584852543","teaser":"Acwa Power breaks ground on five Uzbek ventures | OmniOps raises SAR 30 mn | Al Saif Gallery appoints new CEO | Awards for telecom companies","photo_url":"https:\/\/ent.news\/2024\/10\/1588.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Hotel occupancy was up + stays were longer in 2Q 2024 - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, 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