{"id":94091,"date":"2025-02-05T00:00:00","date_gmt":"2025-02-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=94091"},"modified":"2025-12-14T20:12:01","modified_gmt":"2025-12-14T20:12:01","slug":"non-oil-private-sector-at-highest-performance-since-2014-in-january","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/non-oil-private-sector-at-highest-performance-since-2014-in-january\/","title":{"rendered":"Non-oil private sector at highest performance since 2014 in January"},"content":{"rendered":"<section id=\"94093\" 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=\"94093\">\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\/2025\/02\/05\/derayah-secures-al-olayan-as-cornerstone-investor-in-upcoming-ipo\/\">\r\n                            THIS MORNING: Derayah secures Al Olayan as cornerstone investor in upcoming 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        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/derayah-secures-al-olayan-as-cornerstone-investor-in-upcoming-ipo\/\" 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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We have a busy issue today as Riyad Bank is out with its data for Saudi Arabia PMI, Al Jazira Capital gauges Tasi\u2019s performance in January, and ANB wraps up SAR 3.4 bn sukuk offerings. Let\u2019s dive in.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/globalbankingmarkets.com\/events\/capital-markets-saudi-arabia\" style=\"\" rel=\"noopener\">Global Banking<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/globalbankingmarkets.com\/events\/capital-markets-saudi-arabia\" style=\"\" rel=\"noopener\">and Markets Saudi Arabia<\/a><\/strong><strong> wraps up today at the Hilton Riyadh Hotel<\/strong><strong>.<\/strong> The two-day networking event brought together over 700 local, regional, and global banking and market leaders, with representatives from government and private sector issuers and borrowers, regulators, investors, banks, and other organizations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Riyadh is looking at a high of 25\u00b0C and a low of 11\u00b0C today, while Jeddah\u2019s mercury will peak at 31\u00b0C and hit a low of 24\u00b0C. Makkah will see a 30\u00b0C high and 21\u00b0C low.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HAPPENING TOMORROW-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong> LIV Golf<\/strong><strong> Riyadh\u2019s season opener kicks off tomorrow at the Riyadh Golf Club <\/strong>and wraps up on Saturday, 8, February. Buy your tickets <a target=\"_blank\" href=\"https:\/\/www.livgolf.com\/schedule\/riyadh-2025\/tickets\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong><strong> Prope<\/strong><strong>rty owners across several districts in seven cities of Al Qassim Province have <\/strong><strong>until <\/strong><strong>tomorrow to register their properties online through the Real Estate Registry <\/strong><strong><a target=\"_blank\" href=\"https:\/\/rer.sa\/en\" style=\"\" rel=\"noopener\">website<\/a><\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/x.com\/RERSaudi\/status\/1853003668976538016\" style=\"\" rel=\"noopener\">statement<\/a>. The cities included in this round of registrations are Buraydah, Al Bukayriyah, Unaizah, Al Badayea, Riyadh Al Khabra, Al Khabra and As Sahabin, and Ar Rass.<\/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\">UPDATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> Derayah Financial secured a binding commitment from Al Olayan to subscribe to its <\/strong><strong>upcoming IPO on the main market,<\/strong> it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/2\/323.pdf\" style=\"\" rel=\"noopener\">a supplementary prospectus (pdf)<\/a>. The move will see the IPO\u2019s only cornerstone investor Al Olayan pre-book some 4.7 mn company shares out of a total of 49.95 mn shares on offer, representing a 1.88% stake in the company. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An investor\u2019s stamp of approval: <\/strong>A cornerstone investor\u2019s early commitment to an IPO typically signals confidence in the company\u2019s valuation and future prospects. This encourages other investors to buy in and reduces some of the uncertainty around an offering\u2019s success. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Derayaha Financial is taking <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a8a32ab7-03a9-4b82-9d9a-e8c24a891c03\/%253cmark%253ederayah-financial%253c%2Fmark%253e-prices-tadawul-ipo-at-sar-27-30-apiece\" style=\"\" rel=\"noopener\">a 20% stake<\/a> to Tadawul in a Regulation S-compliant IPO that would make it the first brokerage firm to hit the Saudi market. The share sale should see it raise some SAR 1.5 bn in proceeds, and would give Derayah a market cap of SAR 7.49 bn at listing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong>Aviation<\/strong><strong> regulator Gaca will allow foreign private aircraft operators to run domestic<\/strong> <strong>charter passenger flights starting 1 May<\/strong>, provided they meet regulatory requirements, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2255512\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reports. The move comes amid efforts to promote the Kingdom as a global aviation hub while boosting competition and investment in the sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong>Saudi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8a3c56cc-ebf9-417c-8382-0816af5b9a75\/real-madrid-vs-barcelona-at-king-abdullah-sports-city-today\" style=\"\" rel=\"noopener\">airports<\/a> received 128 mn passengers in 2024, up 15% y-o-y. Meanwhile, the number of flights grew 11% during the year to 902k flights, connecting the Kingdom to 172 destinations around the world. The private aircraft sector also grew 24% in 2024, recording 23.6k flights, SPA reported.<\/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><a id=\"wwtt3\"><\/a> #2- <\/strong><strong>Acwa Powe<\/strong><strong>r is looking to expand its investment portfolio in renewable energy, <\/strong><strong>green <\/strong><strong>hydrogen, and water desalination<\/strong> <strong>to some USD 250 bn by 2030,<\/strong> Geo Head of Saudi Arabia at Acwa Power Hesham Tashkandi told <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2025\/02\/04\/article_2756570.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a>. The renewables giant is currently implementing investments worth USD 97 bn, 60% of which are Saudi-based, Tashkandi said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Acwa is going long on green hydrogen: <\/strong>The company signed an MoU with Germany\u2019s SEFE <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/818a1260-7797-4a3b-9090-172ff8a40775\/\" style=\"\" rel=\"noopener\">earlier this week<\/a> to establish the Saudi-German Green Hydrogen Bridge, aiming to export 200k tons of Saudi-made green hydrogen annually to Europe by 2030. Another MoU with Italy\u2019s Snam \u2014 signed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/818a1260-7797-4a3b-9090-172ff8a40775\/%253cmark%253eitaly%253c%2Fmark%253e-and-ksa-sign-usd-10-bn-in-agreements\" style=\"\" rel=\"noopener\">last week<\/a> \u2014 aims to explore a green hydrogen supply chain from the Kingdom to Europe.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>PIF-backe<\/strong><strong>d Saudi Agricultural and Livestock Investment Company (Salic) <\/strong><strong>currently <\/strong><strong>boasts an investment <\/strong><strong>portfolio <\/strong><strong>worth<\/strong><strong> SAR 27 bn<\/strong>, up from SAR 5 bn in 2019, the company\u2019s CEO Sulaiman Al Rumaih told <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2025\/02\/04\/article_2756565.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> on the sidelines of the Saudi Fisheries Exhibition. Salic has invested in 14 projects distributed across eight countries, with a focus on grains, meat, poultry, and rice, providing 1.6 mn tons of food commodities to the local market every year, Al Rumaih added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The Kingdom <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/197aa9cd-1427-4905-bb94-3a43f8ea258b\/saudi-is-ramping-up-its-chicken-production\" style=\"\" rel=\"noopener\">nearly doubled<\/a> its poultry production over the past decade as part of a push for food self-sufficiency and to address an 80% reliance on food imports that leaves the Kingdom vulnerable to shocks. Saudi Arabia\u2019s chicken production is growing at 6% a year \u2014 one of the fastest rates in the world.<\/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- <\/strong><strong>Saco is shifting away from brick and mortar:<\/strong> The <a target=\"_blank\" href=\"https:\/\/www.saco.sa\/?srsltid=AfmBOopVRl6tLRzp_5-EE-cMdJvgizahjH4kJKpQ1MAevCfAmEW5YBH4\" style=\"\" rel=\"noopener\">Saudi<\/a><a target=\"_blank\" href=\"https:\/\/www.saco.sa\/?srsltid=AfmBOopVRl6tLRzp_5-EE-cMdJvgizahjH4kJKpQ1MAevCfAmEW5YBH4\" style=\"\" rel=\"noopener\">Company for<\/a><a target=\"_blank\" href=\"https:\/\/www.saco.sa\/?srsltid=AfmBOopVRl6tLRzp_5-EE-cMdJvgizahjH4kJKpQ1MAevCfAmEW5YBH4\" style=\"\" rel=\"noopener\">Hardware (Saco)<\/a> is doubling down on e-commerce retail channels, with the company growing their online sales by 60% in 2024, the company\u2019s CEO Abdulsalam Bader told Asharq Business <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/commerce\/69294\/%D8%B3%D8%A7%D9%83%D9%88-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B1%D9%83%D8%B2-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D8%A5%D9%84%D9%83%D8%AA%D8%B1%D9%88%D9%86%D9%8A%D8%A9-%D8%A8%D8%B9%D8%AF-%D8%B1%D9%83%D9%88%D8%AF-%D9%85%D8%AA%D8%A7%D8%AC%D8%B1%D9%87%D8%A7\/\" style=\"\" rel=\"noopener\">(watch, runtime: 6:55)<\/a>. The trend \u2014 which helped Saco offset declines in physical store sales and bolstered last year\u2019s financials \u2014 has left the firm largely uninterested in expanding brick and mortar stores, Bader said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> Riyadh Air and Liv Golf agreed a multi-year partnership<\/strong>, granting the PIF-owned airline comprehensive sponsorship and a host of exclusive benefits over the championship\u2019s 14 global events, according to two statements (<a target=\"_blank\" href=\"https:\/\/www.livgolf.com\/news\/riyadh-air-and-liv-golf-league-sign-multi-year-partnership-ahead-of-2025-season-launch\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.riyadhair.com\/en\/media-hub\/riyadh-air-and-liv-golf-league-sign-multi-year-partnership-ahead-of-2025-season-launch\" style=\"\" rel=\"noopener\">here<\/a>). Riyadh Air will feature in on-course branding and TV placement as early as this week at the Riyadh Golf Club, where this year\u2019s season officially tees off. No additional information was provided on the financial ticket.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> and  <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">climate<\/a>  industries?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <a id=\"wwtt1\"><\/a> <\/strong><strong>It\u2019s another morning with the foreign pages fixated on the latest from Trump: <\/strong>US President Donald Trump is making headlines once again for pushing for \u201ccleaning out\u201d Gaza. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A US takeover of Gaza? <\/strong>During a joint presser with Israeli Prime Minister Benjamin Netanyahu, Trump proposed that the US take over, develop and own the Gaza Strip to turn it into \u201cthe Riviera of the Middle East.\u201d He once again called for the forced displacement of all 2.2 mn Palestinians who call Gaza home. \u201cCountries of interest with humanitarian hearts\u201d could fund permanent resettlement of Gazans in Egypt, Jordan, and possibly other locations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThey say they\u2019re not going to accept,\u201d <\/strong>he said of Egypt, Jordan, and other Arab countries, standing next to Netanyahu. \u201cI say they will.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hamas was quick to reject the proposals, <\/strong>saying that \u201cour people in Gaza will not allow for these plans to come to pass.\u201d Egypt and Jordan had already rejected Trump\u2019s earlier suggestion they take in Gazans, with Jordan\u2019s King Abdullah heading to Washington next week to meet with Trump. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/live\/gaza-live-trump-proposes-permanent-displacement-gazans-2025-02-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-02-04\/trump-insists-that-jordan-and-egypt-will-take-in-palestinians\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2025\/02\/04\/politics\/netanyahu-trump-white-house-meeting\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/21579349-163f-4337-8e47-1ca8e1bb9741\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2025\/02\/04\/us\/trump-administration-rfk-jr-gabbard#trump-netanyahu-meeting-israel-gaza\" style=\"\" rel=\"noopener\">NY Times<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Trump signed a presidential memorandum ahead of the conference reinstating a \u201cmaximum pressure\u201d campaign on Iran to curb its nuclear ambitions. The memo also includes a campaign aimed at \u201cdriving Iran\u2019s oil exports to zero,\u201d threatening USD 53 bn of Iranian oil exports, per 2023 estimates. As usual, Trump signalled he was open to negotiating an agreement with Iran that saves everyone the trouble. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/trump-set-reimpose-maximum-pressure-iran-official-says-2025-02-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/02\/04\/us\/politics\/trump-iran-executive-order.html\" style=\"\" rel=\"noopener\">NY Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/02\/04\/trump-reimposes-maximum-pressure-on-iran-aims-to-drive-oil-exports-to-zero.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-olayan\/\">Al Olayan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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<\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/non-oil-private-sector-at-highest-performance-since-2014-in-january\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/22.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94097\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/non-oil-private-sector-at-highest-performance-since-2014-in-january\/22-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/22.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"22.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/22.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/22.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94096\" class=\"content-area-description single-story post-94096 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-ksa tag-pmi wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.9a64b21a-032d-4d84-aa1c-8fbc511b3729.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Non-oil sector growth in the Kingdom recorded its best performance since <\/strong><strong>September 2014 in January,<\/strong> with the country seeing the fastest increase in total new orders since June 2011, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/2\/286.pdf\" style=\"\" rel=\"noopener\">Riyad Bank Saudi Arabia PMI (pdf)<\/a>. The seasonally adjusted headline figure inched up to 60.5, up from 58.4 in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/93ee293a-2b1a-43ba-adc6-9bdaa514216c\/saudi%25e2%2580%2599s%253cmark%253e-pmi%253c%2Fmark%253e-dips-in-december-for-the-first-time-since-august\" style=\"\" rel=\"noopener\">December<\/a>, moving it well beyond the 50.0 mark that separates growth from contraction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New orders soared during the month:<\/strong> The new orders subindex accelerated to a reading of 71.1 in January, up from 65.5 in the previous month, driven by \u201caccommodative economic conditions\u201d and new infrastructure projects, which helped boost customer orders and total export sales. The index saw the highest rise in new work intakes in a little under 14 years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cNearly 45% of firms observed higher sales volumes,<\/strong> attributing this growth to positive economic conditions and the acceleration of infrastructure projects. The rise in export orders further complemented domestic demand, particularly from GCC countries, reflecting effective marketing and competitive pricing strategies,\u201d Riyad Bank Chief Economist Naif Al Ghaith said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Purchasing and employment were also up:<\/strong> Firms\u2019 purchasing activity remained positive in January, with 35% of respondents seeing an uplift in the quantity of new inputs bought. The rate of employment was also positive throughout the month, with hiring levels \u201crising solidly.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A rise in input costs represented the main downside for the Kingdom:<\/strong> Input price inflation rose at its second-fastest in almost four-and-a-half years in non-oil firms, which many attributed to higher material prices driven by heightened demand and continuing geopolitical tensions. This, in turn, led firms to raise their output prices at the fastest pace in a year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Strength in the non-oil sector is not expected to last very long:<\/strong> \u201cIn Saudi at least, we doubt that the strength in its non-oil sector will last as fiscal policy is tightened,\u201d Capital Economics wrote in a note seen by EnterpriseAM Saudi. \u201cWe think GDP growth will accelerate this year as oil output cuts are unwound, but activity in the non-oil sector is likely to soften on the back of a turn to fiscal consolidation,\u201d Capital Economics\u2019 James Swanston wrote in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/da3d0959-07de-4bb1-94b7-6c8b41d0cbcc\/saudi-gdp-grows-1.3%2525-in-2024,-buoyed-by-non-oil-activities\" style=\"\" rel=\"noopener\">a separate note<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/25106b13-370f-4dc2-8073-cc7e7e3f9db1\/%253cmark%253eworld%253c%2Fmark%253e%253cmark%253e-bank%253c%2Fmark%253e-revises-down-saudi-growth-projections-to-3.4%2525-in-2025\" style=\"\" rel=\"noopener\">World Bank<\/a><\/strong><strong> expects \u201crobust activity in the non-oil sector <\/strong>\u2014 especially in services \u2014 as well as higher oil production and exports,\u201d the bank said in its latest Global Economic Prospects report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving growth amid Opec+\u2019s oil cuts until April is \u201ca high level of Vision 2030-related <\/strong><strong>investment and socio-economic reforms,\u201d<\/strong> which will represent the key drivers for non-oil growth in the Kingdom, Goldman Sachs Group\u2019s MENA Economist Farouk Soussa told Bloomberg last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Non-oil businesses remain positive over the outlook for the year:<\/strong> Saudi firms remain highly optimistic for the year, with businesses expecting to see sustained growth in demand and supportive market conditions throughout 2025. This has reflected in the Kingdom\u2019s employment trends \u2014 with companies expanding their workforces to meet growing demand \u2014 as well as in supply chain improvements and higher purchasing activity among businesses. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER ON LAST YEAR\u2019S NON-OIL ACTIVITY-<\/strong> Non-oil private sector activity grew at the slowest clip in two years in January 2024, with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4f59dc30-c06b-4edb-8262-e846f0615193\" style=\"\" rel=\"noopener\">the first PMI reading<\/a> of last year clocking in at 55.4 before picking up to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8990aa0e-b812-4224-8665-9713b24a6b8d\/non-oil-business-activity-rallies-in-february\" style=\"\" rel=\"noopener\">57.2 in February<\/a>, and maintaining momentum through to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c9b52918-0b20-411e-847f-f509283055e8\/steady-growth\" style=\"\" rel=\"noopener\">April (57.0)<\/a>. The pace of expansion gradually decelerated from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9b296a8d-994f-41e5-81cd-69f70ec98b50\" style=\"\" rel=\"noopener\">May (56.4)<\/a> to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0b2498a1-e6a9-498f-b283-c74ab585a625\/non-oil-private-sector-activity-expansion-softens-again-in-july\" style=\"\" rel=\"noopener\">July (54.4)<\/a>, as demand softened and competition intensified, before recovering in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1b409fe3-d0a8-4a33-92ef-759e5cb2a124\/saudi%25e2%2580%2599s-non-oil-private-sector-activity-reverses-five-month-downtrend-in-august\" style=\"\" rel=\"noopener\">August (54.8)<\/a> and gaining further traction in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/30a53181-d9f4-4cac-b15d-a4a7fb57f5cf\/%253cmark%253epmi%253c%2Fmark%253e-picks-up-steam-in-september\" style=\"\" rel=\"noopener\">September (56.3)<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/70ca9c96-f9bd-49fe-bbbc-7b9e4e817928\/saudi-arabia%25e2%2580%2599s%253cmark%253e-pmi%253c%2Fmark%253e-hits-a-high-in-october\" style=\"\" rel=\"noopener\">October (56.9)<\/a>. Finally, the headline figure peaked in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/35b22534-486f-49f1-95d1-b875e8d6b6f0\/non-oil-economy-posts-record-growth-in-november\" style=\"\" rel=\"noopener\">November (59.0)<\/a>, before slowing in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/93ee293a-2b1a-43ba-adc6-9bdaa514216c\/saudi%25e2%2580%2599s%253cmark%253e-pmi%253c%2Fmark%253e-dips-in-december-for-the-first-time-since-august\" style=\"\" rel=\"noopener\">December (58.4)<\/a>, despite a record pick-up in sales and new orders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story was also picked up by <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-arabias-non-oil-private-sector-grows-decade-high-pace-jan-pmi-shows-2025-02-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong><strong>.<\/strong><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pmi\/\">PMI<\/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=\"94098\" 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=\"94098\">\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\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/tasi-starts-2025-strong-with-a-17-9-monthly-gain-in-turnover-real-estate-leads-growth-and-foreign-investments-surge\/\">\r\n                            Tasi starts 2025 strong with a 17.9% monthly gain in turnover; real estate leads growth and foreign investments surge                        <\/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\/2025\/02\/05\/tasi-starts-2025-strong-with-a-17-9-monthly-gain-in-turnover-real-estate-leads-growth-and-foreign-investments-surge\/\" 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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real estate leads growth and foreign investments surge\">\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=Tasi+starts+2025+strong+with+a+17.9%25+monthly+gain+in+turnover%3B+real+estate+leads+growth+and+foreign+investments+surge+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F02%2F05%2Ftasi-starts-2025-strong-with-a-17-9-monthly-gain-in-turnover-real-estate-leads-growth-and-foreign-investments-surge%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\/2025\/02\/05\/tasi-starts-2025-strong-with-a-17-9-monthly-gain-in-turnover-real-estate-leads-growth-and-foreign-investments-surge\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1386.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94099\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/tasi-starts-2025-strong-with-a-17-9-monthly-gain-in-turnover-real-estate-leads-growth-and-foreign-investments-surge\/1386-jpg-41\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1386.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1386.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1386.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1386.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94098\" class=\"content-area-description single-story post-94098 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-market-authority-cma tag-capital-markets tag-enterpriseam-ksa 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\/2025\/2\/.10d938ce-e222-4df8-8170-0740013f4103.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Tadawul\u2019s ben<\/strong><strong>chmark index Tasi saw its <\/strong><strong>turnover<\/strong><strong> jump 17.9% m-o-m<\/strong>, closing January 2025 at SAR 140.9 bn, with an average daily trading value of SAR 6.4 mn, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/2\/306.pdf\" style=\"\" rel=\"noopener\">AlJazira Capital\u2019s Saudi & Global Markets Review (pdf)<\/a>. The banking sector accounted for the lion\u2019s share of turnover during the month at 16.2%. Tasi closed January at 12.4k points, marking a 3.2% m-o-m increase.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Real estate stocks recorded the highest m-o-m growth:<\/strong> Seventeen out of the 21 Tasi sectors recorded a positive m-o-m performance in January, with real estate logging the highest growth rate at 12.7%, followed by commercial services with a 9% increase. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Foreign investors can now directly buy shares and convertible debt instruments in Tadawul-listed real estate companies with assets in Makkah and Madinah under a new <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e62966e6-8805-4fb4-af55-4385b5f42bd7\/foreign-investors-can-now-buy-shares-of-listed-companies-with-real-estate-assets-in-the-holy-cities\" style=\"\" rel=\"noopener\">regulatory update<\/a> issued by the Capital Market Authority last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Top gainers: <\/strong>Nice One was the top gainer during January, with its share adding 60.6%, followed by Almoosa Health (+33.4%), Thimar (+30.7%), Jabal Omar (+28.4%), and Al Mawarid (+28.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Amongst the worst-performing stocks last months were the National Company for Learning & Education (-11.2), Chemanol (-10.5), Bupa Arabia (-10.1), Amak (-7.3), and Riyad REIT (-7.1).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Rajhi tops charts in turnover: <\/strong>Al Rajhi saw the highest turnover by the end of January, reaching SAR 8.51 bn. It was followed by Nice One (SAR 5.14 bn), and Aramco (SAR 4.7 bn). Alinma (SAR 4.1 bn) and Almoosa Health (SAR 3.86 bn) rounded out the top five most traded stocks for the month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The market has already seen a strong start to 2025 with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8cdc1bf9-a0f2-4b3f-8e42-8227f46b96f6\" style=\"\" rel=\"noopener\">the IPOs<\/a> of Almoosa Health and Nice One at the turn of the year. \u201cNice One can be considered the first Saudi unicorn, opening the door for more players to take the initiative and list,\u201d SNB Capital\u2019s Head of Investment Banking Zaid Ghoul told Zawya earlier this month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign funds are flooding in: <\/strong>Foreign ownership in Tadawul continued to rise in January, with qualified foreign investors (QFIs) holding 10.2% of total free-float ownership, up from 10.04% in December 2024. Net inflows from foreign investors came in at SAR 2.6 bn last month, while local institutional investors contributed SAR 2.2 bn. Among individual stocks, Extra recorded the largest monthly increase in foreign ownership (+2.72% m-o-m), while MESC saw the biggest decline, shedding 2.21% of its QFI ownership by the end of the month. Local retail investors and GCC investors drove net outflows of SAR 3.86 bn and SAR 0.9 bn, respectively.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Are investors optimistic about future growth? <\/strong>The overall P\/E ratio of Tasi stood at 24.3x (excluding Aramco), with Saudi Advanced Industries (SAIC) and ANB Bank being the lowest at 6.7x and 8.7x respectively.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>A high P\/E ratio indicates that a stock is expensive relative to its earnings, often reflecting investor optimism about future growth. It suggests that investors are willing to pay a premium, anticipating higher profits ahead. However, it can also signal overvaluation if the stock price is too high compared to its actual earnings potential.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TASI IN 2024- <\/strong>Tasi ended last year with a slight 0.6% uptick. Capital goods (+52.8%) and utilities (+38.6%) topped sectoral gains, while energy (-14.8) and consumer staples (-13.5%) were lagging behind.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-market-authority-cma\/\">Capital Market Authority (CMA)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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=\"94100\" 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=\"94100\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/anb-wraps-up-sar-3-4-bn-sukuk-offerings-maaden-plans-usd-denominated-issuance\/\">\r\n                            ANB wraps up SAR 3.4 bn sukuk offerings + Ma\u2019aden plans USD-denominated issuance                        <\/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\/2025\/02\/05\/anb-wraps-up-sar-3-4-bn-sukuk-offerings-maaden-plans-usd-denominated-issuance\/\" 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\/2025\/02\/05\/anb-wraps-up-sar-3-4-bn-sukuk-offerings-maaden-plans-usd-denominated-issuance\/')\">\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\/2025\/02\/05\/anb-wraps-up-sar-3-4-bn-sukuk-offerings-maaden-plans-usd-denominated-issuance\/\">\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=ANB wraps up SAR 3.4 bn sukuk offerings + Ma\u2019aden plans USD-denominated issuance&url=https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/anb-wraps-up-sar-3-4-bn-sukuk-offerings-maaden-plans-usd-denominated-issuance\/\">\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\/2025\/02\/05\/anb-wraps-up-sar-3-4-bn-sukuk-offerings-maaden-plans-usd-denominated-issuance\/&title=ANB wraps up SAR 3.4 bn sukuk offerings + Ma\u2019aden plans USD-denominated issuance\">\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=ANB+wraps+up+SAR+3.4+bn+sukuk+offerings+%2B+Ma%E2%80%99aden+plans+USD-denominated+issuance+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F02%2F05%2Fanb-wraps-up-sar-3-4-bn-sukuk-offerings-maaden-plans-usd-denominated-issuance%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\/2025\/02\/05\/anb-wraps-up-sar-3-4-bn-sukuk-offerings-maaden-plans-usd-denominated-issuance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/410.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94101\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/anb-wraps-up-sar-3-4-bn-sukuk-offerings-maaden-plans-usd-denominated-issuance\/410-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/410.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"410.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/410.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/410.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94100\" class=\"content-area-description single-story post-94100 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-arab-national-bank-anb tag-debt tag-debt-watch tag-enterpriseam-ksa tag-maaden wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.8d874b46-75bb-437a-a45a-d6a376a9c9b5.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> It\u2019s a busy day in local debt markets this morning<\/strong>, as ANB wraps its 3.4 bn sukuk offerings, and Ma\u2019aden announces plans for USD-denominated trust certificates.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>The <\/strong><strong>Arab N<\/strong><strong>ational Bank (ANB) raised SAR 3.35 bn via the private placement of a <\/strong><strong>SAR-denominated sukuk offering<\/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=85040&anCat=1&cs=1080&locale=en\" style=\"\" rel=\"noopener\">disclosure<\/a> to Tadawul. The offering saw 3.35k sukuk sold at a 6.2% annual return, with a SAR 1 mn buy-in minimum. Subscriptions <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=84767&anCat=1&cs=1080&locale=en\" style=\"\" rel=\"noopener\">kicked off<\/a> on Thursday, 16 January and continued until Monday, 27 January.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on the offering:<\/strong> The sukuk are perpetual, meaning they have no fixed maturity date. However, they may be redeemed in certain cases. The issuance falls under ANB\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1c0dcdbb-acfc-432f-b42b-dbc616f94eb6\/a-flurry-of-debt-news-from-al-rajhi-%2B-anb-%2B-bsf\" style=\"\" rel=\"noopener\">SAR 11.25 bn additional tier 1 capital sukuk program<\/a>, with proceeds allocated to supporting the bank\u2019s capital base and covering its general corporate expenses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>HSBC Saudi Arabia and ANB Capital were tapped as joint lead managers for the issuance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Saudi Arabian Minin<\/strong><strong>g Company (Ma\u2019aden) plans to issue USD-denominated trust <\/strong><strong>certificates<\/strong> under its international trust certificate issuance program, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85045&anCat=1&cs=1211&locale=en\" style=\"\" rel=\"noopener\">a disclosure<\/a> to Tadawul. The proceeds will be allocated to covering its general business activities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The issuance is expected to take place through a special-purpose vehicle and will be offered to eligible local and foreign investors. The size and offering terms have yet to be determined based on market conditions. The offer is subject to approval from regulatory authorities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Citigroup Global Markets, HSBC Bank, Al Rajhi Capital, BNP PARIBAS, GIB Capital, JP Morgan Securities, Natixis, Saudi Fransi Capital, SNB Capital, and Standard Chartered were tapped to be joint lead managers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><strong>Ma<\/strong><strong>\u2019aden is ramping up its copper search:<\/strong> Ma\u2019aden plans to spend USD 2.5 bn annually to expand its phosphate and gold operations over the next five to six years, the mining giant\u2019s CEO Bob Wilt told <a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/02\/03\/2025\/saudi-state-mining-giant-maaden-steps-up-search-for-copper\" style=\"\" rel=\"noopener\">Semafor<\/a>. This comes as the company pivots more towards local copper exploration, aiming to spend 72% of its budget on the metal, Wilt added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ALSO ON OUR DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Natio<\/strong><strong>nal<\/strong><strong> Environmental Recycling Co. (Tadweeer) secured a SAR 170 mn <\/strong><strong>Sharia-compliant facility from Saudi Awwal Bank<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85050&anCat=1&cs=9540&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The 36-month facility \u2014 with a 15-month grace period and promissory note security \u2014 will fund a SAR 45 mn guarantee and SAR 90 mn in bridge financing, with SAR 35 mn allocated for working capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE<\/strong><strong>- Homegrown fintech platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/forusinvest.com\/en\/\" style=\"\" rel=\"noopener\">Forus<\/a><\/strong><strong> lined up a USD 60 mn securitized debt<\/strong> <strong>facility with London-based investment management firm Fasanara Capital<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.fasanara.com\/press\/internal\/fintech-lender-forus-secures-60-million-debt-facility-from-fasanara-to-power-sme-growth-in-saudi-arabia\" style=\"\" rel=\"noopener\">a statement<\/a> released last week. The funding will help Forus scale up its operations and become a leading non-bank lender to SMEs in the Kingdom. The platform has provided over USD 390 mn in working capital to more than 400 local SMEs since its launch in 2020, the statement adds.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/arab-national-bank-anb\/\">Arab National Bank (ANB)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/maaden\/\">Ma\u2019aden<\/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=\"94102\" 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=\"94102\">\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\/2025\/02\/05\/vminds-ai-raises-six-figure-investment-in-pre-seed-funding-round\/\">\r\n                            vminds.ai raises \u201csix-figure\u201d investment in pre-seed funding round                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/vminds-ai-raises-six-figure-investment-in-pre-seed-funding-round\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/vminds-ai-raises-six-figure-investment-in-pre-seed-funding-round\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/vminds-ai-raises-six-figure-investment-in-pre-seed-funding-round\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=vminds.ai raises \u201csix-figure\u201d investment in pre-seed funding round&url=https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/vminds-ai-raises-six-figure-investment-in-pre-seed-funding-round\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/vminds-ai-raises-six-figure-investment-in-pre-seed-funding-round\/&title=vminds.ai raises \u201csix-figure\u201d investment in pre-seed funding round\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=vminds.ai+raises+%E2%80%9Csix-figure%E2%80%9D+investment+in+pre-seed+funding+round+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F02%2F05%2Fvminds-ai-raises-six-figure-investment-in-pre-seed-funding-round%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/vminds-ai-raises-six-figure-investment-in-pre-seed-funding-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/408.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94103\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/vminds-ai-raises-six-figure-investment-in-pre-seed-funding-round\/408-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/408.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"408.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/408.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/408.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94102\" class=\"content-area-description single-story post-94102 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam-ksa tag-simplex tag-startup-watch tag-vminds-ai wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.bd2a8c6b-a2d4-46d4-ab5a-07f9da450d1d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Homegrown AI crowdsourcing platform <\/strong><strong><a target=\"_blank\" href=\"http:\/\/vminds.ai\" style=\"\" rel=\"noopener\">vminds.ai<\/a><\/strong><strong> closed a \u201csix-figure\u201d pre-seed <\/strong><strong>funding <\/strong><strong>round<\/strong> led by an undisclosed group of angel investors, marking the app\u2019s official launch, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/2\/318.pdf\" style=\"\" rel=\"noopener\">a press release (pdf)<\/a>. The product is now available for individual users, with the launch of the app\u2019s corporate platform slated for this year\u2019s third quarter, the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where will the money go? <\/strong>The AI platform will use the raised funds to support its second and third stages of growth, founder and CEO Ahmed Al Mashhadi told EnterpriseAM Saudi. The second stage will allow users to develop individually-crafted \u201cworkflows\u201d by choosing and integrating from among the hundreds of AI tools available on the platform to execute select tasks. Users can then monetize their workflows by leasing them to other users via the app for a subscription fee. The third and final stage entails the development of personalized AI experts, which are trained across different tasks, and can be hired through the app at an hourly rate, Al Mashhadi added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More projects in the pipeline: <\/strong><a target=\"_blank\" href=\"https:\/\/veem.life\/\" style=\"\" rel=\"noopener\">Veem Solutions<\/a>, owner and operator of vminds.ai, is currently working on other AI-powered solutions, including products for marketing analytics and user-generated content, Al Mashhadi told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About vminds.ai: <\/strong>Founded by Al Mashhadi (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ahmedessa\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), the platform compiles an extensive host of popular AI tools under one platform, including DeepSeek, Gemini and OpenAI, among others. vminds.ai is currently enrolled in Nvidia and Microsoft\u2019s startup program, and its parent company Veem Solutions is a graduate of Aramco-backed Wa\u2019ed Entrepreneurship Center. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ALSO FROM STARTUP LAND-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt-born fintech startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/khazna.app\/\" style=\"\" rel=\"noopener\">Khazna<\/a><\/strong><strong> raised USD 16 mn in a pre-series B round<\/strong>, with participation from both established and recent Saudi, Egyptian, and international investors, including Sanad fund for MSMEs, ANB Seed Fund, Aljazira Capital, Khwarizmi Ventures, Nclude, ICU Ventures, Quona, Speedinvest, and Disruptech Ventures, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/2\/355.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Proceeds from the round will go towards expanding Khazna\u2019s Saudi footprint and pursuing a digital banking license in Egypt<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Khazna: <\/strong>Established in 2020 by Omar Saleh (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/omar-saleh-7078555\/\" style=\"\" rel=\"noopener\">Linkedin<\/a>), Ahmed Wagueeh (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/wagueeh\/\" style=\"\" rel=\"noopener\">Linkedin<\/a>) and Fatimah El Shenawy (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/fatma-el-shenawy-685b8164\/\" style=\"\" rel=\"noopener\">Linkedin<\/a>), the fintech targets underbanked Egyptians with limited access to formal financial services such as general credit, BNPL, and bill payments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Egyptian <\/strong><strong>CNC mach<\/strong><strong>ine <\/strong><strong>manufacturing startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.simplexarabia.com\/en\/home\" style=\"\" rel=\"noopener\">Simplex<\/a><\/strong><strong> secured USD 13 mn in an investment round led by the National Industrial Development Center,<\/strong> to establish a 20k sqm CNC factory in Riyadh, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/2\/342.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The Factory is expected to begin operations in 1Q 2026. The factory\u2019s production capacity is yet to be determined.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/simplex\/\">Simplex<\/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\/vminds-ai\/\">vminds.ai<\/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=\"94104\" 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=\"94104\">\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\">CABINET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/cabinet-approves-the-transfer-of-licensing-authority-for-accounting-and-other-professions\/\">\r\n                            Cabinet approves the transfer of licensing authority for accounting and other professions                        <\/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\/2025\/02\/05\/cabinet-approves-the-transfer-of-licensing-authority-for-accounting-and-other-professions\/\" 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\/2025\/02\/05\/cabinet-approves-the-transfer-of-licensing-authority-for-accounting-and-other-professions\/')\">\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\/2025\/02\/05\/cabinet-approves-the-transfer-of-licensing-authority-for-accounting-and-other-professions\/\">\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=Cabinet approves the transfer of licensing authority for accounting and other professions&url=https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/cabinet-approves-the-transfer-of-licensing-authority-for-accounting-and-other-professions\/\">\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\/2025\/02\/05\/cabinet-approves-the-transfer-of-licensing-authority-for-accounting-and-other-professions\/&title=Cabinet approves the transfer of licensing authority for accounting and other professions\">\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=Cabinet+approves+the+transfer+of+licensing+authority+for+accounting+and+other+professions+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F02%2F05%2Fcabinet-approves-the-transfer-of-licensing-authority-for-accounting-and-other-professions%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\/2025\/02\/05\/cabinet-approves-the-transfer-of-licensing-authority-for-accounting-and-other-professions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/406.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94105\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/cabinet-approves-the-transfer-of-licensing-authority-for-accounting-and-other-professions\/406-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/406.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"406.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/406.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/406.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94104\" class=\"content-area-description single-story post-94104 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-enterpriseam-ksa tag-minerals tag-mining wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.51347382-6575-41c2-8e09-920ed2985a58.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The council of ministers authorized <\/strong><strong>the transfer of licensing authority <\/strong>for the professions of accounting, auditing, non-securities financial consulting, zakat and tax services, and accounting services from the Commerce Ministry to the Saudi Organization for Chartered and Professional Accountants, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2255632\" style=\"\" rel=\"noopener\">SPA<\/a> reports. Cabinet also approved a draft cooperation agreement with the World Economic Forum on minerals. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also approved at the weekly meeting:<\/strong><\/p>\n<ul>\n<li>Mutual exemptions for short term residence visas for diplomatic, special and service passport holders between the Kingdom, Tajikistan and Azerbaijan;<\/li>\n<li>An MoU on Islamic affairs with Tanzania; <\/li>\n<li>An MoU with Pakistan to coordinate investigations on money laundering and terrorism financing;<\/li>\n<li>A cooperation agreement with Qatar for the exchange of personal data and information for security purposes;<\/li>\n<li>Two MoUs on social development with Qatar and Kuwait; <\/li>\n<li>An MoU on healthcare cooperation with Cuba;<\/li>\n<li>An MoU with the Maldives on airports and seaplanes.<\/li>\n<\/ul>\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\/cabinet-watch\/\">CABINET WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/minerals\/\">MINERALS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mining\/\">mining<\/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=\"94106\" 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=\"94106\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/bank-albilads-net-income-up-18-5-in-2024\/\">\r\n                            Bank Albilad\u2019s net income up 18.5% in 2024                        <\/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\/2025\/02\/05\/bank-albilads-net-income-up-18-5-in-2024\/\" 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\/2025\/02\/05\/bank-albilads-net-income-up-18-5-in-2024\/')\">\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\/2025\/02\/05\/bank-albilads-net-income-up-18-5-in-2024\/\">\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=Bank Albilad\u2019s net income up 18.5% in 2024&url=https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/bank-albilads-net-income-up-18-5-in-2024\/\">\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\/2025\/02\/05\/bank-albilads-net-income-up-18-5-in-2024\/&title=Bank Albilad\u2019s net income up 18.5% in 2024\">\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=Bank+Albilad%E2%80%99s+net+income+up+18.5%25+in+2024+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F02%2F05%2Fbank-albilads-net-income-up-18-5-in-2024%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\/2025\/02\/05\/bank-albilads-net-income-up-18-5-in-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2154.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94107\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/bank-albilads-net-income-up-18-5-in-2024\/2154-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2154.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2154.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2154.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2154.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94106\" class=\"content-area-description single-story post-94106 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-bank-albilad tag-earnings-watch tag-enterpriseam-ksa tag-umm-al-qura wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.fd033603-afb9-438d-9c65-2cc8adf75211.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> It\u2019s a calmer day on the earnings front,<\/strong> as Bank Albilad published its 2024 results, while Argaam reported a snapshot of Umm Al Qura\u2019s earnings ahead of IPO.<\/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\">BANK ALBILAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bank Al<\/strong><strong>bila<\/strong><strong>d\u2019s net income grew 18.5% y-o-y in 2024 to SAR 2.8 bn<\/strong>, driven by a 7% increase in total operating income at SAR 5.7 bn and a 4% fall in total operating expenses, the lender said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85036&anCat=1&cs=1140&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Bank Albilad\u2019s total income from financing rose 13% y-o-y during the period to SAR 7.1 bn, while total income from investments increased 15.7% to SAR 1.5 bn.<\/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\">UMM AL QURA FOR DEVELOPMENT AND CONSTRUCTION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PIF-backed<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/ipo.ummalqura.com.sa\/en\" style=\"\" rel=\"noopener\">Umm Al Qura for Development and Construction<\/a><\/strong><strong> came out of red territory in <\/strong><strong>3Q 2024<\/strong>, logging SAR 116.9 mn in net income compared to a net loss of SAR 41.3 mn during the same quarter last year, according to an earnings report <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/financial-reports\/company-report\/3376\/2024\/72?preview=true\" style=\"\" rel=\"noopener\">Argaam<\/a> says it has seen. Meanwhile, revenues recorded SAR 266.7 mn during the period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In 9M 2024<\/strong>, the company recorded a SAR 309.1 mn bottomline, up from SAR 6.7 mn y-o-y. Meanwhile, revenues increased to SAR 1 bn during the same period from 647.2, driven by land plot sales worth SAR 1.1 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The Makkah-based developer is taking a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/222ba7ac-9d53-4824-94d1-1314038c4b25\/umm-al-qura-for-development-to-go-public-on-tadawul\" style=\"\" rel=\"noopener\">9.1% stake<\/a> to Tadawul\u2019s main market, with some 130.8 mn in newly-issued shares up for grabs. While no official details have been provided so far on the timeline or potential value of the IPO, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4eef7deb-fdaf-48a8-adaa-7e399262e196\/\" style=\"\" rel=\"noopener\">previous reports<\/a> suggested that the IPO \u201ccould raise a few hundred mn USD.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividends <\/strong><strong>on the way? <\/strong>Umm Al Qura plans to distribute dividends to shareholders within two to three years after its IPO, as <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6991a241-ed06-4a08-ba24-3857c63be7e0\/new-real-estate-funds-%2B-sar-bns-of-agreements-signed-at-cityscape\" style=\"\" rel=\"noopener\">Masar Makkah\u2019s<\/a> seven hotel towers and two malls begin generating returns following their completion in 2026, CFO Saeed Al-Ghamdi told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/69263\/%D8%A3%D9%85-%D8%A7%D9%84%D9%82%D8%B1%D9%89-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%AA%D9%88%D9%82%D8%B9-%D8%AA%D9%88%D8%B2%D9%8A%D8%B9-%D8%A3%D8%B1%D8%A8%D8%A7%D8%AD-%D9%86%D9%82%D8%AF%D9%8A%D8%A9-%D8%AE%D9%84%D8%A7%D9%84-3-%D8%B3%D9%86%D9%88%D8%A7%D8%AA\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Projected revenues from the project will also help the company pare down its outstanding debts, which stood at SAR 10 bn as of 3Q 2024.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/bank-albilad\/\">Bank Albilad<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/umm-al-qura\/\">Umm Al Qura<\/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=\"94108\" 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=\"94108\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/jazan-economic-city-to-host-sar-2-bn-aquaculture-hub-from-neoms-topian\/\">\r\n                            Jazan Economic City to host SAR 2 bn aquaculture hub from Neom\u2019s Topian                        <\/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\/2025\/02\/05\/jazan-economic-city-to-host-sar-2-bn-aquaculture-hub-from-neoms-topian\/\" 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\/2025\/02\/05\/jazan-economic-city-to-host-sar-2-bn-aquaculture-hub-from-neoms-topian\/')\">\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\/2025\/02\/05\/jazan-economic-city-to-host-sar-2-bn-aquaculture-hub-from-neoms-topian\/\">\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=Jazan Economic City to host SAR 2 bn aquaculture hub from Neom\u2019s Topian&url=https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/jazan-economic-city-to-host-sar-2-bn-aquaculture-hub-from-neoms-topian\/\">\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\/2025\/02\/05\/jazan-economic-city-to-host-sar-2-bn-aquaculture-hub-from-neoms-topian\/&title=Jazan Economic City to host SAR 2 bn aquaculture hub from Neom\u2019s Topian\">\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=Jazan+Economic+City+to+host+SAR+2+bn+aquaculture+hub+from+Neom%E2%80%99s+Topian+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F02%2F05%2Fjazan-economic-city-to-host-sar-2-bn-aquaculture-hub-from-neoms-topian%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\/2025\/02\/05\/jazan-economic-city-to-host-sar-2-bn-aquaculture-hub-from-neoms-topian\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/404.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94109\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/jazan-economic-city-to-host-sar-2-bn-aquaculture-hub-from-neoms-topian\/404-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/404.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"404.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/404.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/404.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94108\" class=\"content-area-description single-story post-94108 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-eastnets tag-enterpriseam-ksa tag-etihad-etisalat-mobily tag-general-authority-of-civil-aviation-gaca tag-jazan tag-national-housing-company-nhc tag-neom tag-topian wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.c3b62957-624f-48b3-ad7c-3f94cb57c9ae.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INVESTMENT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>The Royal Commission for Jubail and Yanbu inked an agreement with Neom\u2019s Topian to <\/strong><strong>establish a SAR <\/strong><strong>1.9 bn aquaculture project<\/strong> in Jazan Special Economic Zone, according to a <a target=\"_blank\" href=\"https:\/\/x.com\/RCJY_Intl\/status\/1886639389104578910\" style=\"\" rel=\"noopener\">post on X<\/a>. The initiative will span some 100k sqm and field a production capacity of 10k tons a year while creating 120 new jobs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Topian? <\/strong>Neom launched the food company back in <a target=\"_blank\" href=\"https:\/\/www.neom.com\/en-us\/newsroom\/neom-announces-topian\" style=\"\" rel=\"noopener\">December 2023<\/a>, aiming to develop sustainable food solutions with a focus on climate-resistant agriculture, regenerative aquaculture, innovative foods, nutrition, and sustainable supplies and ESG. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Neom also launched a joint venture with Tabuk Fisheries, dubbed Topian Aquaculture JV, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7173bd7c-25bd-4f1d-a1be-e6c83dec7c63\/neom-is-creating-the-largest-fish-hatchery-in-the-region.-plus:-oil-drilling,-aid-to-benin\" style=\"\" rel=\"noopener\">in February of last year<\/a> with the aim of developing the largest fish hatchery in the Mena region by the end of 2024. The initiative was originally set to have a capacity of 42 mn fingerlings, and marine-pen production facilities with a targeted output of 20k tonnes of finfish annually.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s Logic Holding nabs majority stake in Nexel to boost Saudi presence: <\/strong>Cairo-born management consulting group <a target=\"_blank\" href=\"https:\/\/logic-consulting.com\/\" style=\"\" rel=\"noopener\">Logic Holding<\/a> acquired a majority stake in Dubai-headquartered management consulting <a target=\"_blank\" href=\"https:\/\/nexelpartners.com\/\" style=\"\" rel=\"noopener\">Nexel Partners<\/a> for an undisclosed sum, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/2\/329.pdf\" style=\"\" rel=\"noopener\">a press release (pdf)<\/a>. While the exact size of Logic\u2019s ownership in Nexel was not disclosed, the acquisition plays right into the company\u2019s growth plans across key markets in the region. Nexel also has offices in Riyadh and Cairo. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eyeing Saudi growth: <\/strong>\u201cLogic will prioritize expanding its Saudi Arabian footprint, capitalizing on the Kingdom\u2019s rapid digitalization, before scaling across the Gulf. This targeted approach ensures the firm meets escalating demand while delivering integrated, future-ready solutions,\u201d the release read. <\/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\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gaca has inaugurated Saudi\u2019s first Air Cargo Security Control Center in Riyadh<\/strong>, the authority said in a <a target=\"_blank\" href=\"https:\/\/gaca.gov.sa\/web\/en-gb\/news\/3-fab-2025\" style=\"\" rel=\"noopener\">statement<\/a>. The newly established center represents a unified platform that will enhance supply chain security through remote inspection, surveillance, and real-time decision-making utilizing the Washaj platform. The facility will run 24\/7, and employ IoT and risk analytics to monitor security across 40 cargo agencies in four regions.<\/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>NHC set to h<\/strong><strong>ave a new platform for connecting its contractors and vetted <\/strong><strong>suppliers:<\/strong> Digital procurement software developer <a target=\"_blank\" href=\"https:\/\/penny.co\/\" style=\"\" rel=\"noopener\">Penny Software<\/a> signed an agreement with the <a target=\"_blank\" href=\"https:\/\/nhc.sa\/en\/\" style=\"\" rel=\"noopener\">National Housing Company (NHC)<\/a>, and virtual building materials industrial park <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/watad-vip\/about\/\" style=\"\" rel=\"noopener\">Watad<\/a> to develop a digital procurement platform, Supply Pro, to facilitate connection between NHC contractors and vetted suppliers, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/pennysoftware_%D8%B4%D8%B1%D8%A7%D9%83%D8%A9-%D8%A7%D8%B3%D8%AA%D8%B1%D8%A7%D8%AA%D9%8A%D8%AC%D9%8A%D8%A9-%D8%A8%D9%8A%D9%86-penny-software-%D9%88-nhc-activity-7292064281762623488-28N3?utm_source=share&utm_medium=member_desktop&rcm=ACoAAD8II5EBnjT9C2vTwVGKNCUIfH3je67Sz-A\" style=\"\" rel=\"noopener\">LinkedIn post<\/a>. The platform aims to reduce operational costs, speed up processes, and enhance decision-making. No timeline or investment ticket was disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<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>Global paym<\/strong><strong>ent and compliance solutions provider <\/strong><strong><a target=\"_blank\" href=\"http:\/\/eastnets.com\" style=\"\" rel=\"noopener\">Eastnets<\/a><\/strong><strong> will be offering Swift <\/strong><strong>payments <\/strong><strong>solutions in Saudi Arabia <\/strong>through its newly-launched Swift Service Bureau in the Kingdom, it said in a <a target=\"_blank\" href=\"https:\/\/www.eastnets.com\/news\/eastnets-launches-ksa-swift-service-bureau-supporting-vision-2030-financial-transformation\" style=\"\" rel=\"noopener\">statement<\/a>. The Eastnets KSA Service Bureau will be built on Google Cloud and will comply with the Kingdom\u2019s data sovereignty and privacy laws, as well as global standards such as Swift CSP and ISO 20022.<\/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\">TELECOMS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Etihad Etisal<\/strong><strong>at (Mobily) successfully landed the 10-km Africa-1 submarine cable in Duba<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/mobily-enhances-the-kingdoms-digital-infrastructure-with-successful-landing-of-the-africa-1-submarine-cable-in-duba-yvzzw9mp\" style=\"\" rel=\"noopener\">a press release<\/a>. The advanced cable \u2014 set to go online early next year \u2014 has a 96 Tbps capacity and is set to improve broadband connectivity and support 5G, AI, and cloud services across Africa, the Middle East, Asia, and Europe. Mobily is participating in the cable project with a consortium of eight parties.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/eastnets\/\">Eastnets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/etihad-etisalat-mobily\/\">Etihad Etisalat (Mobily)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/general-authority-of-civil-aviation-gaca\/\">General Authority of Civil Aviation (GACA)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/jazan\/\">Jazan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-housing-company-nhc\/\">National Housing Company (NHC)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neom\/\">NEOM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/topian\/\">Topian<\/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=\"94110\" 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=\"94110\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/uncertainty-of-trump-presidency-pushes-us-fed-to-rule-out-pre-emptive-rate-actions\/\">\r\n                            Uncertainty of Trump presidency pushes US Fed to rule out pre-emptive rate actions                        <\/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\/2025\/02\/05\/uncertainty-of-trump-presidency-pushes-us-fed-to-rule-out-pre-emptive-rate-actions\/\" 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 US Federal Reserve is no different, with San Francisco Fed Head Mary Daly telling the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/02\/04\/business\/mary-daly-federal-reserve-trump.html\" style=\"\" rel=\"noopener\">New York Times<\/a> that any pre-emptive interest rate moves are off the table until the \u201cscope, magnitude and timing\u201d of the new presidency\u2019s actions and their effect on the economy are clearer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Fed is focused on seeing the wood from the trees<\/strong>, trying to gauge the combined effect of the new administration\u2019s policies, instead of reacting to each and every move \u2014 or a late-night tweet \u2014 from the presidency. \u201cIf a policy change is going to spur growth, which ultimately pushes down inflation, at the same time that there\u2019s something that picks it up a little bit, then you don\u2019t know what the net effect is going to be until you have more details about the policy,\u201d she explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe easiest way for a policy mistake is to speculate<\/strong>,\u201d she told the American paper of record. The paper only had to look back as far as the last couple of days to justify the Fed\u2019s new approach, with a tariff showdown with Canada and Mexico, along with a looming tariff war with China, and even the EU presenting an impossible-to-predict few months ahead for the country. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For now, the Fed is sticking to its outlook from December<\/strong>, which projected interest rate cuts of half a percentage point in 2025, bringing the target range to 3.75-4%. But Daly emphasized that this could change, depending on how the US economy evolves. \u201cI think we have to have a very open mind about whether fewer or more will be needed,\u201d she said, indicating how inflation and policy shifts could complicate the central bank\u2019s plans and projections.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Fed has a different approach to Trump this time round<\/strong>, after being quick off the block to preemptively lower rates in three consecutive meetings in 2019 during Trump\u2019s first foray into trade wars. However, the US is in a different place right now, with inflation above the Fed\u2019s 2% target, making businesses and consumers more sensitive to price pressures.<\/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 mixed in early trading this morning<\/strong>, the Hang Seng is in the red, down 1.6%, and so is the Shanghai, down 0.6%, while the Kospi is up 1.0% and the Nikkei is relatively unchanged. <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,434<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +3.3%)<\/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>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\">1,549<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +2.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">+0.5% (YTD: -0.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.0% 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\">29,668<\/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: -0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,585<\/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: +1.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,219<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +1.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,038<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +2.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,571<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +4.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,265<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +7.5%)<\/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>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 76.09<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.22<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.9%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,874<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 96,280<\/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\">-5.4% (YTD: +2.9%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI <\/strong>rose 0.5% <strong>yesterday <\/strong>on turnover of SAR 6.3 bn. The index is up 3.3% 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> Kingdom (+8.9%), ACIG (+7.3%) and Care (+4.6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Albabtain (-4.0%), Abo Moati (-1.8%) and Alandalus (-1.8%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong> rose 0.5% <strong>yesterday <\/strong>on turnover of SAR 72.6 mn. The index is down 0.9% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Smile Care (+12.9%), Naas Petrol (+5.1%) and Mulkia (+4.8%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> TMC (-11.5%), Sama Water (-6.1%) and Aldawliah (-5.1%)<\/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\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/riyadh.dev\/en\/\" style=\"\" rel=\"noopener\">Riyadh<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/riyadh.dev\/en\/\" style=\"\" rel=\"noopener\">Development Company<\/a><\/strong><strong>\u2019s (Ardco) <\/strong><strong>shareholders greenlit a <\/strong><strong>31.6% capital increase<\/strong><strong> to SAR 2.3 bn via rights issue<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85047&anCat=1&cs=4150&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The company will issue 56.2 mn new shares to fund the acquisition of two real estate plots in Riyadh from Remat Al-Riyadh Development Company. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/sedcocapital.com\/\" style=\"\" rel=\"noopener\">Sedco Ca<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/sedcocapital.com\/\" style=\"\" rel=\"noopener\">pital<\/a><\/strong><strong> received the green light from the Capital Market Authority for the public <\/strong><strong>offering of its Saudi Freestyle Artificial Intelligence Fund<\/strong>, the authority said in <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/NEWS\/Pages\/CMA_N_3731.aspx\" style=\"\" rel=\"noopener\">a statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Saudi Cement is set to distribute a SAR 229.5 mn dividend payout for 2H 2024<\/strong>, at SAR 1.50 per share, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85054&anCat=1&cs=3030&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Distributions will be announced at a future date.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- <\/strong>Albilad Capital will distribute SAR 469.8 mn in dividends for the Albilad Saudi Sovereign Sukuk ETF for January 2025 at SAR 0.054 per unit, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85041&anCat=1&cs=9403&locale=en\" style=\"\" rel=\"noopener\">separate disclosure<\/a> yesterday. Distributions will be executed within 10 days of the announcement.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/donald-trump\/\">Donald Trump<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/us-federal-reserve\/\">US Federal Reserve<\/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=\"94112\" 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=\"94112\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/05\/saudi-reiterates-normalization-with-israel-is-conditional-on-a-palestinian-state-rejects-resettlement-calls\/\">\r\n                            Saudi reiterates normalization with Israel is conditional on a Palestinian state, rejects resettlement calls                        <\/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\/2025\/02\/05\/saudi-reiterates-normalization-with-israel-is-conditional-on-a-palestinian-state-rejects-resettlement-calls\/\" 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 Kingdom rejected settlement, annexation or displacement of Palestinians as \u201cnon-negotiable\u201d with new or old US administrations, the statement added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The statement marks the latest reiteration of Saudi\u2019s public stance on establishing ties <\/strong><strong>with Israel,<\/strong> after Prime Minister Benjamin Netanyahu said he believed \u201cpeace between Israel and Saudi Arabia is not only feasible, I think it\u2019s going to happen.\u201d Netanyahu\u2019s statements came during a press conference with US President Trump that called for resettlement of Palestinians into neighboring countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> Talks for a normalization of ties between the Kingdom and Israel are nearing a \u201cbreakthrough,\u201d Israel\u2019s ambassador to the US claimed recently. Efforts led by the Biden administration last year to secure the agreement \u2014 which was originally designed to include a defense pact and cooperation on nuclear technology and AI \u2014 fell through due to the outbreak of the war in Gaza.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\u2013<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/normalization\/\">Normalization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/us-saudi-relations\/\">US-Saudi relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94114\" 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\/2025\/02\/05\/94114\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94114\" class=\"content-area-description single-story post-94114 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\">EVENTS WITH NO SET DATE<\/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: BinDawood Holding expected to close 100% acquisition 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 an 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\">FEBRUARY <\/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>18 February (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/global-cmf.com\/riyadh2025\/\" style=\"\">The Capital Markets Forum<\/a><\/span><span style=\"font-weight:400;\">, KAFD Conference Centre, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-20 February (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/global-cmf.com\/riyadh2025\/\" style=\"\">The Capital Markets Forum<\/a><\/span><span style=\"font-weight:400;\">, The Four Seasons, Riyadh.<\/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>21-22 February (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/jcsa.sa\/en\/saudi-cup\/\" style=\"\">The Saudi Cup<\/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>22 February (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.boxingnews24.com\/2024\/12\/bivol-vs-beterbiev-ii-fear-or-fight\/\" style=\"\">Dazn Boxing event: Beterbiev vs Bivol II<\/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>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 February (Monday):<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.psx-forum.com\/\" style=\"\">Public Sector Excellence Forum<\/a><\/span><span style=\"font-weight:400;\">, Movenpick Hotel & Residence Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-25 February (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rihf.ksrelief.org\/\" style=\"\">The Riyadh International Humanitarian 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>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 <\/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 (TBC).<\/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>31 March (Monday): Deadline for applying to the<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rega.gov.sa\/prop-tech\/prop-tech-center\/%D8%A7%D9%84%D8%A8%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D8%AA%D9%86%D8%B8%D9%8A%D9%85%D9%8A%D8%A9-%D8%A7%D9%84%D8%AA%D8%AC%D8%B1%D9%8A%D8%A8%D9%8A%D8%A9\/\" style=\"\">Real Estate General Authority\u2019s Regulatory Sandbox Program<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL <\/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>3-20 April (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.the-afc.com\/en\/national\/afc_u17_asian_cup\/news\/afcu17_qualifiers_set_to_ignite_road_to_saudi_arabia_2025.html\" style=\"\">AFC Asian U17 Cup<\/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>13-14 Apri<\/span><span>l (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/humancapabilityinitiative.org\/en\/\" style=\"\">Human Capability Initiative (HCI) Conference<\/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>13-16 April<\/span><span> (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/edgex.humancapabilityinitiative.org\/en\" style=\"\">EdgeX HCI<\/a><\/span><span style=\"font-weight:400;\">, The Ritz Carlton, Riyadh.<\/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>18-20 April (Friday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/f1experiences.com\/2025-saudi-arabian-grand-prix\" style=\"\">Saudi Arabian Grand Prix<\/a><\/span><span style=\"font-weight:400;\">, Jeddah,<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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>23-25 April (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.spa.gov.sa\/N2254996\" style=\"\">Construction and Real Estate Development Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Jazan. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 April- 4 May (Friday-Sunday): AFC Champions League Elite Finals <\/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<\/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>19-20 May (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/toss-summit.com\/\" style=\"\">Tech-ecO-System Summit (ToSS)<\/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;\">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 <\/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>30 June (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/ar\/MediaCenter\/News\/Pages\/news_1346.aspx\" style=\"\">Deadline<\/a><\/span><span style=\"font-weight:400;\"> for Cancellation of Fines and Exemption of Financial Penalties Initiative by the Zakat, Tax and Customs Authority (Zatca).<\/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 <\/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;\">AUGUST <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5-17 August (Tuesday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.fiba.basketball\/en\/events\/fiba-asiacup-2025-qualifiers\" style=\"\">Fiba Asian Cup<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER <\/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 <\/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 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-9 November (Monday- Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wtatennis.com\/tournament\/808\/wta-finals\/2025\/overview\" style=\"\">WTA Tour Finals<\/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>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:400;\">27-30 November (Thursday-Sunday): The World Rally Championship (WRC), Jeddah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-4 December (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iaea.org\/events\/epr2025\" style=\"\">International Conference on Nuclear Emergencies<\/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>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>8-12 February (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worlddefenseshow.com\/en\" style=\"\">World Defense Show<\/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;\">26-29 October (Monday-Thursday): World Energy Congress, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The World Water Forum <\/span><span style=\"font-weight:400;\">takes place in Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The Ocean Race<\/span><span style=\"font-weight:400;\"> finishes in Amaala on the Red Sea.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Riyadh-Kudmi transmission line<\/span><span style=\"font-weight:400;\"> to be completed.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Tasi starts 2025 strong | ANB wraps up SAR 3.4 bn sukuk offering | vminds.ai closes pre-seed funding round<\/p>\n","protected":false},"featured_media":94092,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-94091","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"93d8ffe1-a314-4c48-ac72-2cda5fc38299","teaser":"Tasi starts 2025 strong | ANB wraps up SAR 3.4 bn sukuk offering | vminds.ai closes pre-seed funding round","photo_url":"https:\/\/ent.news\/2024\/4\/569.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>Non-oil private sector at highest performance since 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