{"id":95241,"date":"2025-03-13T00:00:00","date_gmt":"2025-03-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=95241"},"modified":"2025-12-14T20:31:40","modified_gmt":"2025-12-14T20:31:40","slug":"budget-deficit-to-reach-3-8-of-gdp-this-year-fitch","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/","title":{"rendered":"Budget deficit to reach 3.8% of GDP this year -Fitch"},"content":{"rendered":"<section id=\"95243\" 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=\"95243\">\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\/03\/13\/consultancy-firms-reportedly-vying-to-fill-pwc-void-alpha-data-aims-to-triple-saudi-sales-by-next-year\/\">\r\n                            THIS MORNING: Consultancy firms reportedly vying to fill PwC void + Alpha Data aims to triple Saudi sales by next year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/consultancy-firms-reportedly-vying-to-fill-pwc-void-alpha-data-aims-to-triple-saudi-sales-by-next-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/consultancy-firms-reportedly-vying-to-fill-pwc-void-alpha-data-aims-to-triple-saudi-sales-by-next-year\/')\">\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\/03\/13\/consultancy-firms-reportedly-vying-to-fill-pwc-void-alpha-data-aims-to-triple-saudi-sales-by-next-year\/\">\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=Consultancy firms reportedly vying to fill PwC void + Alpha Data aims to triple Saudi sales by next year&url=https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/consultancy-firms-reportedly-vying-to-fill-pwc-void-alpha-data-aims-to-triple-saudi-sales-by-next-year\/\">\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\/03\/13\/consultancy-firms-reportedly-vying-to-fill-pwc-void-alpha-data-aims-to-triple-saudi-sales-by-next-year\/&title=Consultancy firms reportedly vying to fill PwC void + Alpha Data aims to triple Saudi sales by next year\">\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=Consultancy+firms+reportedly+vying+to+fill+PwC+void+%2B+Alpha+Data+aims+to+triple+Saudi+sales+by+next+year+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F03%2F13%2Fconsultancy-firms-reportedly-vying-to-fill-pwc-void-alpha-data-aims-to-triple-saudi-sales-by-next-year%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\/03\/13\/consultancy-firms-reportedly-vying-to-fill-pwc-void-alpha-data-aims-to-triple-saudi-sales-by-next-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1055.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95244\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/consultancy-firms-reportedly-vying-to-fill-pwc-void-alpha-data-aims-to-triple-saudi-sales-by-next-year\/1055-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1055.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1055.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1055.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1055.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95243\" class=\"content-area-description single-story post-95243 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-alpha-data tag-enterpriseam-ksa tag-pwc tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.4fabd167-b1cd-424e-9afe-c20c84332e3c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people<\/strong>. We are saying goodbye to the second workweek of Ramadan with a meaty issue, as we delve into Fitch\u2019s latest projections for our budget deficit, and PIF-backed Scopely snaps up Pokemon Go from US-based Niantic.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Siemens Energy has landed a USD 1.6 bn project for two gas-fired power plants, and BSF agreed to lend Diriyah SAR 6 bn for Wadi Safar project. 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>#1- Rawasi Albina Investment will list its SAR 70 mn sukuk on the Tadawul for trading today<\/strong>, with the notes carrying a SAR 1k par value and semi-annual payments at a 10.25% rate, Tadawul <a target=\"_blank\" href=\"https:\/\/x.com\/tadawul\/status\/1899749346012238112\" style=\"\" rel=\"noopener\">said on X<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The final allocation of shares in Umm Al Qura for Development and Construction is<\/strong><strong> scheduled to happen today<\/strong>, after the retail bookbuilding period wrapped up <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/afa4fac1-d299-49af-913d-61fe833666af\/world-expo-2030-bid-in-the-final-stage-%2B-a-hiring-dispute-behind-the-pif-pwc-row%3F\" style=\"\" rel=\"noopener\">on Sunday<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Umm Al Qura is offering a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/222ba7ac-9d53-4824-94d1-1314038c4b25\" style=\"\" rel=\"noopener\">9.1% stake<\/a> on Tadawul\u2019s main market priced at the top of its indicative range at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1ab94024-d6c2-4236-b556-a707b5f9e430\/%253cmark%253eumm-al-qura-for-development%253c%2Fmark%253e-prices-ipo-at-sar-15-%2B-derayah%25e2%2580%2599s-retail-offering-wraps-up\" style=\"\" rel=\"noopener\">SAR 15 per share<\/a>, with the institutional tranche oversubscribed by 241x. The pricing would see it raise SAR 2 bn in proceeds and give the firm a market cap of SAR 21 bn at listing, making it the largest IPO on Tadawul so far this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Riyadh and Madinah will see thunderstorms, while Makkah will see some rain today.<\/p>\n<ul>\n<li>Riyadh: 27\u00b0C daytime \/ 16\u00b0C overnight<\/li>\n<li>Makkah: 32\u00b0C daytime \/ 20\u00b0C overnight<\/li>\n<li>Madinah: 28\u00b0C daytime \/ 16\u00b0C overnight <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/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>#1- Fillin<\/strong><strong>g the PwC-shaped hole:<\/strong> Consultancy firms including Deloitte and EY are moving to expand their presence in the Kingdom after the PIF sidelined PwC from advisory contracts, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-12\/pwc-s-consulting-ban-from-saudi-fund-has-rivals-hunting-for-work\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources it says are in the know. Some firms have already been invited to bid on \u201clucrative\u201d consultancy contracts for giga-projects including Neom, according to the business information service\u2019s sources. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Talent shortage?<\/strong> Deloitte and EY managers have reportedly instructed staff to brace for an uptick in projects, with EY already bringing in more than a dozen staff members to Saudi Arabia from other offices in anticipation of securing new assignments. This shift comes as PwC\u2019s competitors struggle to scale up and absorb the additional workload due to a limited local consultant pool. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> PwC was reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/977dcf09-1dee-47d7-9bbe-622600de9fa6\/%253cmark%253epwc%253c%2Fmark%253e-banned-from-advisory-contracts-with-pif%3F-%2B-lebanon-looks-to-reactivate-military-aid-package-from-saudi\" style=\"\" rel=\"noopener\">barred<\/a> from securing advisory and consulting contracts from the fund and its subsidiaries until February 2026, two years after setting up its regional headquarters in Saudi Arabia, where it employs over 2k people. The consulting firm informed employees in an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9cd5ac18-845f-48d7-aa3a-f11eb156fd76\/starbucks-flagship-store-in-diriyah-square%3F-%2B%253cmark%253e-pwc%253c%2Fmark%253e-is-trying-to-smooth-over-tensions\" style=\"\" rel=\"noopener\">internal memo<\/a> that the situation pertains to a \u201cclient\u201d matter rather than a regulatory issue, while the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/afa4fac1-d299-49af-913d-61fe833666af\/world-expo-2030-bid-in-the-final-stage-%2B-a-hiring-dispute-behind-the-pif-%253cmark%253epwc%253c%2Fmark%253e-row%3F\" style=\"\" rel=\"noopener\">Financial Times<\/a> said it was due to the consultancy firm\u2019s attempt to hire Neom\u2019s then-chief internal audit officer Jason Davies.<\/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=\"wwtt2\"><\/a> <\/strong><strong>#2- Abu D<\/strong><strong>habi-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alpha.ae\/\" style=\"\" rel=\"noopener\">Alpha Data<\/a><\/strong><strong> a<\/strong><strong>ims to<\/strong><strong> triple Saudi sales to 10% by next year as it expands <\/strong><strong>beyond the UAE,<\/strong> CEO Fayez Al Abini told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financial-markets\/73490\/%D8%A3%D8%AF%D8%A7%D8%A1-%D8%A3%D8%B3%D9%87%D9%85-%D8%A3%D9%84%D9%81%D8%A7-%D8%AF%D8%A7%D8%AA%D8%A7-%D9%81%D9%8A-%D8%A3%D9%88%D9%84-%D9%8A%D9%88%D9%85-%D8%AA%D8%AF%D8%A7%D9%88%D9%84\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The digital and IT services provider opened offices in Saudi Arabia and Qatar in 2022 but is adopting a cautious approach toward its expansion, focusing on projects that can \u201c[ensure] payment commitments\u201d and \u201cavoid delays in signing and implementation,\" Al Abini said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Alpha Data <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/71cf22ef-c051-4258-a690-ed59fa678739\/alpha-data%25e2%2580%2599s-share-price-rallied-on-its-first-day-of-trading\" style=\"\" rel=\"noopener\">debuted<\/a> on the ADX yesterday with a 40% stake sale that raised AED 600 mn (USD 163 mn).<\/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> #3- The Royal Commission for Riyadh City extended the deadline to submit bids for the <\/strong><strong>contract to design and build Riyadh Metro Line 7<\/strong> to Sunday, 15 June 2025, according to <a target=\"_blank\" href=\"https:\/\/metrorailtoday.com\/news\/construction-bid-submission-deadline-extended-for-riyadh-metro-line-7\" style=\"\" rel=\"noopener\">Metro Rail Today<\/a>. The line is set to be developed in two phases, with phase 1 spanning a 65 km stretch, linking 19 stations to key areas including Qiddiya Entertainment City and King Salman Park. Meanwhile, phase two \u2014 still in the design stage \u2014 will extend the line northeast to connect Diriyah Gate, New Murabba, and King Khaled International Airport. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s in?<\/strong> Several major global companies are reportedly bidding for the contract, including Germany's <a target=\"_blank\" href=\"https:\/\/www.alstom.com\/\" style=\"\" rel=\"noopener\">Alstom<\/a>, Japan\u2019s <a target=\"_blank\" href=\"https:\/\/www.hitachirail.com\/\" style=\"\" rel=\"noopener\">Hitachi Rail<\/a>, Siemens, <a target=\"_blank\" href=\"https:\/\/www.samsungcnt.com\/eng\/\" style=\"\" rel=\"noopener\">Samsung Construction and Trading<\/a>, and China\u2019s <a target=\"_blank\" href=\"https:\/\/www.crrcgc.cc\/en\/\" style=\"\" rel=\"noopener\">CRRC<\/a>, <a target=\"_blank\" href=\"https:\/\/fsa.com.sa\/\" style=\"\" rel=\"noopener\">Freysinnet Contracting<\/a>, Turkey\u2019s <a target=\"_blank\" href=\"https:\/\/mapa.group\/\" style=\"\" rel=\"noopener\">Mapa<\/a> and <a target=\"_blank\" href=\"https:\/\/www.limak.com.tr\/homepage\" style=\"\" rel=\"noopener\">Limak<\/a>. Local firms competing for the project include <a target=\"_blank\" href=\"https:\/\/al-ayuni.com\/\" style=\"\" rel=\"noopener\">Alayuni<\/a>, <a target=\"_blank\" href=\"https:\/\/www.albawani.net\/\" style=\"\" rel=\"noopener\">Albawani<\/a>, <a target=\"_blank\" href=\"https:\/\/www.almabani.com\/\" style=\"\" rel=\"noopener\">Almabani<\/a>, <a target=\"_blank\" href=\"https:\/\/www.saudifcc.com\/\" style=\"\" rel=\"noopener\">FCC<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.webuildgroup.com\/en\/\" style=\"\" rel=\"noopener\">WeBuild<\/a>, <a target=\"_blank\" href=\"https:\/\/www.nesmapartners.com\/\" style=\"\" rel=\"noopener\">Nesma and Partners<\/a>, and <a target=\"_blank\" href=\"https:\/\/ohla-group.com\/en\/we-are-ohla\/\" style=\"\" rel=\"noopener\">OHLA<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The orange line (Line 3) \u2014 the final link in Riyadh\u2019s network \u2014 was launched <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/042112b3-ae1d-4e47-8557-dbfeb41ce664\/%253cmark%253eriyadh%253c%2Fmark%253e%253cmark%253e-metro%253c%2Fmark%253e%25e2%2580%2599s-blue-line-begins-operations-today\" style=\"\" rel=\"noopener\">earlier in January<\/a>, bringing the total number of operating metro lines to six. This milestone follows a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/fd7bb717-1b57-4363-8004-a7dbbf699919\" style=\"\" rel=\"noopener\">successful pilot<\/a> earlier in December, which introduced three of the network\u2019s six lines, followed by the launch of Lines 2 and 5 mid-month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- <\/strong><strong>Riyad<\/strong><strong>h Air is exploring partnerships with Air India and IndiGo to strengthen its<\/strong><strong> presence in India<\/strong> as the airline\u2019s CEO Tony Douglas leads a delegation visiting India for three days, according to a <a target=\"_blank\" href=\"https:\/\/www.riyadhair.com\/en\/media-hub\/riyadh-air-delegation-to-explore-partnerships-in-india\" style=\"\" rel=\"noopener\">statement<\/a>. \u201cIndia has long been a crucial part of Riyadh Air\u2019s network planning ahead of our operations launch,\u201d Douglas said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Derayah Nomu Market Fund gets the go-ahead:<\/strong> Derayah Financial Company received the green light from the Capital Market Authority for the public offering of its Derayah Nomu Market Fund, the authority said in a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3749.aspx\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Consum<\/strong><strong>er spending via point-of-sale (PoS) transactions in the Kingdom<\/strong> <strong>dipped <\/strong><strong>25.5%<\/strong><strong> w-o-w<\/strong> <strong>in the week ending Saturday, 8 March<\/strong> to c. SAR 13 bn, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/951.pdf\" style=\"\" rel=\"noopener\">Saudi Central Bank\u2019s report (pdf)<\/a>. The number of weekly transactions also fell by 19.8% w-o-w to just under 185.5 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> PoS transactions on furniture saw the largest decline in terms of value, falling 38.7% w-o-w to SAR 321.5 mn, followed by restaurants and cafes, whose value fell 38.3% to just under SAR 1.3 bn. Food and beverages came in a close third, with the value of transactions falling 38.1% w-o-w to SAR 2.0 bn. In terms of volume, restaurants and cafes recorded the steepest decline during the week (-35.8%). Education transactions jumped 144.6% w-o-w to SAR 200.7 mn as students returned from their second semester vacations following Founding Day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh once again had the highest value of PoS transactions<\/strong> at SAR 4.6 bn, followed by Jeddah at SAR 1.8 bn. The lowest value was recorded in Abha, with SAR 139.7 mn in spending across 2,391 transactions.<\/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>The Kingdom\u2019s <\/strong><strong>commercial records for importing precious metals and gemstones<\/strong><strong> rose 37% y-o-y in 2024<\/strong>, driven by government reforms to attract investment and improve transaction transparency, according to <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2025\/03\/12\/article_2758386.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a>. Registrations for precious metals and gemstones imports reached 1,081, up from 788 in 2023, while sales registrations grew 29% y-o-y to 1,269. Riyadh led in imports and exports, followed by Makkah and the Eastern Province.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Opec+ oil output jumped in February to 41.01 mn bbl \/ d<\/strong>, rising 363k bbl \/ day from the previous month, according to Opec\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/1002.pdf\" style=\"\" rel=\"noopener\">monthly oil market report (pdf)<\/a>. The increase was driven primarily by higher output from Kazakhstan, which added 198k bbl \/ d to its monthly production \u2014 \u201cat least 300k bbl \/ d above its Opec+ ceiling,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-12\/opec-oil-production-surges-as-kazakhstan-further-breaches-quota\" style=\"\" rel=\"noopener\">Bloomberg<\/a> notes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Opec+ <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f481ed2b-a929-4b6c-965c-048cfa7195e9\/arab-leaders-endorse-egypt%25e2%2580%2599s-usd-53-bn-reconstruction-plan-for-gaza\" style=\"\" rel=\"noopener\">agreed<\/a> to stick to plans to revive supply in April following repeated delays, with the group citing \u201chealthy market fundamentals\u201d and a \u201cpositive outlook.\u201d Opec+ kept the door open, however, for future changes in policy, saying that the increase may be paused or reversed depending on market conditions. \u201cThis flexibility will allow the group to continue to support oil market stability,\u201d the group 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>#1- <\/strong><strong>Saudi cl<\/strong><strong>ubs comfortably <\/strong><strong>head into the Asian Champions League Elite quarterfinals: <\/strong>Al Hilal recovered from a 1-0 loss in the first leg of the round of 16 to beat Uzbek side Pakhtakor 4-1 on aggregate, while Al Nassr put three past Iran\u2019s Esteghlal following a goalless draw in the reverse fixture. Meanwhile, Al Ahli added two clean goals to the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b597f3f5-753e-49ce-98af-4d0658380d4c\/%253cmark%253e%253c%2Fmark%253earamco%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253econsiders%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ebidding%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efor%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ecastrol%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253elubricants%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ebusiness%253cmark%253e%253c%2Fmark%253e#:~:text=Al%20Ahli%20will%20take%20home%20a%202%2Dgoal%20cushion\" style=\"\" rel=\"noopener\">three-goal cushion<\/a> they took home against Qatar\u2019s Al Rayyan in the previous leg.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>Qatar\u2019s Al Sadd joined our three Saudi clubs, with the four teams qualifying to the finals from the West region, which can only draw teams that qualified from the East in the next round \u2014 including Japan\u2019s Yokohama F. Marinos and Vissel Kobe, Thai side Buriram United, as well as China\u2019s Shanghai Shenhua. The quarterfinals draw will take place next Monday, 17 March. Apart from the round of 16, the competition\u2019s finals will be played over just one leg and within a 10-day stretch between 25 April and 4 May. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Chess teams are recruiting top players for the Esports World Cup this summer,<\/strong> where sixteen players will compete in Riyadh from Thursday, 31 July to Monday, 4 August, for a USD 1.5 mn pool, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/chess-looking-new-audiences-with-esports-world-cup-looming-2025-03-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported yesterday.<\/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>It seems like we can\u2019t go a single morning without bringing up the Trump tariffs: <\/strong>US President Donald Trump threatened to introduce additional tariffs on EU imports, after the bloc responded to his 25% tariff on steel and aluminum, saying it would increase tariffs on USD 28 bn worth of US goods starting April. \u201cWhatever they charge us with, we're charging them,\u201d Trump said in response to the news. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/trumps-steel-aluminum-tariffs-take-effect-us-canada-trade-war-intensifies-2025-03-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-12\/trump-tariffs-on-steel-aluminum-take-effect-with-no-exemptions?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-eu-tariffs-countermeasures-806a3b9bcc9cd4e45817e672d95f0070\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c3e4d8epdzdo\" style=\"\" rel=\"noopener\">BBC<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cTariffs are taxes. They are bad for business and worse for consumers<\/strong>,\u201d EU President Ursula von der Leyen said, adding that \u201cnobody needs that \u2014 on both sides, neither in the European Union nor in the United States.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME-<\/strong> Israel and Lebanon kicked off US-backed talks over their border and the possible withdrawal of Israeli troops. Delegates from the two sides met earlier this week in the presence of US and French mediators (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-12\/israel-lebanon-start-us-backed-border-talks-as-ceasefire-holds?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alpha-data\/\">Alpha Data<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pwc\/\">PwC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"95245\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15542.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"95246\" 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=\"95246\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/fitch-sees-budget-deficit-widening-to-3-8-of-gdp-this-year\/\">\r\n                            Fitch sees Saudi Arabia\u2019s budget deficit widening to 3.8% of GDP this year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/fitch-sees-budget-deficit-widening-to-3-8-of-gdp-this-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/fitch-sees-budget-deficit-widening-to-3-8-of-gdp-this-year\/')\">\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\/03\/13\/fitch-sees-budget-deficit-widening-to-3-8-of-gdp-this-year\/\">\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=Fitch sees budget deficit widening to 3.8% of GDP this year&url=https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/fitch-sees-budget-deficit-widening-to-3-8-of-gdp-this-year\/\">\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\/03\/13\/fitch-sees-budget-deficit-widening-to-3-8-of-gdp-this-year\/&title=Fitch sees budget deficit widening to 3.8% of GDP this year\">\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=Fitch+sees+budget+deficit+widening+to+3.8%25+of+GDP+this+year+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F03%2F13%2Ffitch-sees-budget-deficit-widening-to-3-8-of-gdp-this-year%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\/03\/13\/fitch-sees-budget-deficit-widening-to-3-8-of-gdp-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/853.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95247\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/fitch-sees-budget-deficit-widening-to-3-8-of-gdp-this-year\/853-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/853.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"853.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/853.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/853.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95246\" class=\"content-area-description single-story post-95246 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-aramco tag-economy tag-enterpriseam-ksa tag-fitch-ratings tag-gdp 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\/3\/.884ee431-c62b-4015-a1e3-14679a1ff547.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Aramco\u2019s recent decision to cut dividends by 31.0% in 2025 is expected to cause the <\/strong><strong>Kingdom\u2019s budget deficit to widen to 3.8% of GDP in 2025<\/strong>, up from 2.8% in 2024, Fitch Ratings said in a research <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/sovereigns\/saudi-arabias-deficit-to-widen-as-aramco-dividend-normalises-11-03-2025\" style=\"\" rel=\"noopener\">note<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Aramco plans to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a26a20ca-31ef-4909-94c2-ed5567aa7f53\/%253cmark%253earamco%253c%2Fmark%253e-cuts-dividends-as-net-income-falls\" style=\"\" rel=\"noopener\">reduce<\/a> its 2025 dividend payouts to USD 85.4 bn, which it attributed to financial pressure from high payouts and subdued oil prices, which have strained its balance sheet and contributed to its net-debt position. The dividend will include a base payment and a smaller performance-linked portion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For Fitch Ratings, the change in dividend payments is no surprise:<\/strong> Aramco\u2019s plan for dividend payments is aligned with the agency\u2019s view that total dividend payments will average around USD 82 bn annually over 2025-2028, the note reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fitch\u2019s deficit forecast is a more conservative estimate than that of Capital Economics,<\/strong> which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c2d349e9-4f0b-4896-bf2e-c8f87f662113\/how-saudi-arabia-could-be-affected-by-opec%2B%25e2%2580%2599s-decision-to-ramp-up-production-in-april\" style=\"\" rel=\"noopener\">penciled in<\/a> a prediction of the deficit widening to 4.0% of GDP in 2025. Meanwhile, Emirates NBD <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/137f2705-03a6-4e83-b5ac-3c1fa8e14798\/gcc-to-see-3.5%2525-gdp-growth-in-2025--emirates-nbd\" style=\"\" rel=\"noopener\">said<\/a> in February that it sees Saudi Arabia recording a budget deficit of 5.6% of GDP this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The latest gov\u2019t projections tell a different story: <\/strong>The government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/72e76ea0-cfe5-4328-95c3-cf39eefa9004\/finmin-outlines%253cmark%253e-budget%253c%2Fmark%253e-for-fy-2025\" style=\"\" rel=\"noopener\">expects<\/a> the budget shortfall to come in at 2.3% of GDP (SAR 101 bn) in the current fiscal year, and to \u201ccontinue at similar levels over the medium term,\u201d it said in its budget for FY 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To meet diversification targets, some gov\u2019t adaptation will be necessary:<\/strong> \u201cWe believe the authorities retain flexibility to adjust expenditure, particularly on investment, as they look to balance capital spending priorities and fiscal targets,\u201d Fitch said. However, this could lead to lower investment spending, which could have an impact on the Kingdom\u2019s diversification efforts as investment projects are scaled back.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How increased oil production will impact GDP growth:<\/strong> The agency sees oil production rising by around 10% by the end of 2026 to around 10 mn bpd, contributing to an \u201cexpansion in oil sector GDP of 2.7% in 2025 and 6.4% in 2026\u201d \u2014 and, ultimately, causing economic growth to accelerate to 3.4% in 2025 and 4.6% in 2026, from 1.3% in 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fitch\u2019s prediction for GDP growth is more optimistic than most:<\/strong> S&P Global <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8139dc74-b6ee-4af6-a2a7-07b29dcef3bf\/s&p-global-sees-saudi-arabia%25e2%2580%2599s-gdp-growing-by-2.8%2525-in-2025,-boosted-by-private-consumer-spending\" style=\"\" rel=\"noopener\">sees<\/a> Saudi Arabia\u2019s GDP growing by 2.8% in 2025, while the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7cb585e6-9177-4969-a374-3b0811a98735\/%253cmark%253eimf%253c%2Fmark%253e-lowers-real-gdp-growth-projections-to-3.2%2525-in-2025\" style=\"\" rel=\"noopener\">IMF<\/a> and the <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> slashed the Kingdom\u2019s 2025 growth projections to 3.2% and 3.4% respectively, citing extended Opec+ production cuts. Meanwhile, Capital Economics <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\">penciled in<\/a> an even more optimistic prediction of 3.5%, citing anticipated oil output cuts, \u201cbut activity in the non-oil sector is likely to soften on the back of a turn to fiscal consolidation.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/fitch-ratings\/\">Fitch Ratings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"95248\" 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=\"95248\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/pif-backed-scopely-acquires-pokemon-go-from-us-based-niantic\/\">\r\n                            PIF-backed Scopely acquires Pokemon Go from US-based Niantic                        <\/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\/03\/13\/pif-backed-scopely-acquires-pokemon-go-from-us-based-niantic\/\" 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\/03\/13\/pif-backed-scopely-acquires-pokemon-go-from-us-based-niantic\/')\">\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\/03\/13\/pif-backed-scopely-acquires-pokemon-go-from-us-based-niantic\/\">\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=PIF-backed Scopely acquires Pokemon Go from US-based Niantic&url=https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/pif-backed-scopely-acquires-pokemon-go-from-us-based-niantic\/\">\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\/03\/13\/pif-backed-scopely-acquires-pokemon-go-from-us-based-niantic\/&title=PIF-backed Scopely acquires Pokemon Go from US-based Niantic\">\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=PIF-backed+Scopely+acquires+Pokemon+Go+from+US-based+Niantic+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F03%2F13%2Fpif-backed-scopely-acquires-pokemon-go-from-us-based-niantic%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\/03\/13\/pif-backed-scopely-acquires-pokemon-go-from-us-based-niantic\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1053.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95249\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/pif-backed-scopely-acquires-pokemon-go-from-us-based-niantic\/1053-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1053.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1053.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1053.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1053.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95248\" class=\"content-area-description single-story post-95248 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam-ksa tag-gaming tag-investment-watching tag-ma-watch tag-niantic tag-scopely 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\/3\/.12d92ddb-f193-4710-8235-d30a25f78c8a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Scopely closes in on Pokemon Go acquisition: <\/strong>US-based game developer <a target=\"_blank\" href=\"https:\/\/www.scopely.com\/\" style=\"\" rel=\"noopener\">Scopely<\/a> \u2014 a subsidiary of PIF\u2019s <a target=\"_blank\" href=\"https:\/\/savvygames.com\/\" style=\"\" rel=\"noopener\">Savvy Games Group<\/a> \u2014 agreed to acquire Pokemon Go and other titles from American software developer <a target=\"_blank\" href=\"https:\/\/nianticlabs.com\/?hl=en\" style=\"\" rel=\"noopener\">Niantic<\/a> for USD 3.5 bn, Niantic said in <a target=\"_blank\" href=\"https:\/\/nianticlabs.com\/news\/niantic-next-chapter?hl=en\" style=\"\" rel=\"noopener\">a statement<\/a>. Niantic will contribute USD 350 mn from its balance sheet to the offer price, bringing the total value of the transaction to USD 3.85 bn for Niantic shareholders. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Reports of a potential acquisition have been swirling <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/09a4ddd2-26c9-4879-8206-a8bbd5e5127d\/trump-speaks-to-pif%25e2%2580%2599s-fii-priority-summit-in-miami-%2B-pif%25e2%2580%2599s-scopely-in-talks-to-acquire%253cmark%253e-pok%25c3%25a9mon-%253c%2Fmark%253ego-developer\" style=\"\" rel=\"noopener\">since last month<\/a>, with the move coming as Scopely focuses on boosting its gaming portfolio with \u201ccommunity-driven, social gaming experiences.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details of the agreement:<\/strong> Scopely will acquire Niantic\u2019s game development teams and games, including Pok\u00e9mon GO, Pikmin Bloom, and Monster Hunter Now. It will also take over companion apps such as Campfire and Wayfarer, which support the main games. Following the takeover, Niantic will separate its mapping technology platform into a new independent company, Niantic Spatial, which will focus on geospatial AI. The transaction will also see Scopely inject an additional USD 50 mn into Niantic\u2019s AI spinoff, Niantic Spatial. \u201cAll of Niantic\u2019s original investors will also continue to be shareholders of Niantic Spatial.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture: <\/strong>The move marks the latest in the Kingdom\u2019s USD 40 bn push to become a global gaming hub, as part of the government\u2019s broader economic diversification plans led by the PIF \u2014 the primary executing arm for these ambitions. In fact, PIF\u2019s gaming unit Savvy snapped up Scopely for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a9fbbe2d-901a-49d8-8b35-68bb737c3958\/pif-owned-savvy-has-some-esports,-games-surprises-up-its-sleeves\" style=\"\" rel=\"noopener\">USD 4.9 bn<\/a> last year in the \u201clargest investment Savvy has made to-date,\u201d CEO Brian Ward at the time. Savvy also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/256a6be3-6ab5-4f18-b755-503ccc629916\/brf-arabia-closes-sar-316.2-mn-acquisition-of-addoha-poultry\" style=\"\" rel=\"noopener\">signed an MoU<\/a> with SBI Holdings last month to introduce Japanese gaming companies into its Esports ecosystem.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Niantic's gaming division engages over 30 mn monthly active users and generated more <\/strong><strong>than USD 1 bn in revenue last year. <\/strong>Among its top titles, Pok\u00e9mon GO continues to be a global sensation, consistently ranking in the top 10 mobile games since its launch nearly a decade ago, with over 100 mn unique players in 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A rough patch for Niantic:<\/strong> Niantic has had \u201cseveral tough years,\u201d with mass layoffs in 2022 and 2023, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/pokemon-go-maker-niantic-sell-game-division-saudi-owned-scopely-35-billion-2025-03-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> notes. \u201cBeyond the runaway success of Pok\u00e9mon Go, many of Niantic\u2019s other games have struggled to gain traction or have shut down entirely,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-12\/-pokemon-go-owner-sells-games-to-saudi-group-for-3-5-billion\" style=\"\" rel=\"noopener\">Bloomberg<\/a> added. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gaming\/\">GAMING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watching\/\">investment watching<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/niantic\/\">Niantic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/scopely\/\">Scopely<\/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=\"95250 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"95250\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/95250\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95250\" class=\"content-area-description single-story post-95250 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1942.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"95251\" 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=\"95251\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/siemens-energy-lands-usd-1-6-bn-project-for-gas-fired-power-plants\/\">\r\n                            Siemens Energy lands USD 1.6 bn project for gas-fired power plantstech to two gas-fired power plants                        <\/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\/03\/13\/siemens-energy-lands-usd-1-6-bn-project-for-gas-fired-power-plants\/\" 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\/03\/13\/siemens-energy-lands-usd-1-6-bn-project-for-gas-fired-power-plants\/')\">\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\/03\/13\/siemens-energy-lands-usd-1-6-bn-project-for-gas-fired-power-plants\/\">\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=Siemens Energy lands USD 1.6 bn project for gas-fired power plants&url=https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/siemens-energy-lands-usd-1-6-bn-project-for-gas-fired-power-plants\/\">\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\/03\/13\/siemens-energy-lands-usd-1-6-bn-project-for-gas-fired-power-plants\/&title=Siemens Energy lands USD 1.6 bn project for gas-fired power plants\">\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=Siemens+Energy+lands+USD+1.6+bn+project+for+gas-fired+power+plants+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F03%2F13%2Fsiemens-energy-lands-usd-1-6-bn-project-for-gas-fired-power-plants%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\/03\/13\/siemens-energy-lands-usd-1-6-bn-project-for-gas-fired-power-plants\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1042.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95252\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/siemens-energy-lands-usd-1-6-bn-project-for-gas-fired-power-plants\/1042-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1042.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1042.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1042.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1042.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95251\" class=\"content-area-description single-story post-95251 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-energy tag-enterpriseam-ksa tag-harbin tag-siemens-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.ec7224ec-0078-4d65-9b6f-e0f3570681c4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Siemens Energy t<\/strong><strong>apped for USD 1.6 bn projects: <\/strong>Germany\u2019s Siemens Energy bagged a USD 1.6 bn contract to provide key tech to the Rumah 2 and Nairyah 2 gas-fired power plants, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/939.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a> from Siemens. China\u2019s Harbin Electric International is the main EPC contractor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The company will manufacture six gas turbine, four steam turbines, and ten generators, along with other components at its Energy Dammam Hub, which is currently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c475163e-d3a5-4b3b-95ad-87e17e1c01a5\" style=\"\" rel=\"noopener\">expanding<\/a>. Siemens will also handle long-term maintenance for 25 years in collaboration with Harbin.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the plants: <\/strong>The two plants will provide a capacity of 1.8 GW each to the national grid, enough to power around 1.5 mn homes and offset 60% of emissions compared to traditional oil-fired stations, the statement said. Simple cycle operations are set to begin in 2027, with full operations slated for 2028.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART-<\/strong> The projects will incorporate high-efficiency gas turbines in combined-cycle mode, which allow for the use of carbon capture technologies. They are expected to contribute to the government\u2019s energy mix strategy engineered to meet growing demand and diversify energy sources. The Kingdom aims to generate 50% of its electricity needs from natural gas by 2030, with the other half coming from renewables.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sounds familiar? <\/strong>In November, Abu Dhabi\u2019s National Energy Company (Taqa), Japan\u2019s Jera, and Saudi\u2019s Al Bawan were <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2800d78b-eb3f-4cee-9da8-fe67495e849f\/saudi-power-awards-ipps-worth-sar-30-bn\" style=\"\" rel=\"noopener\">awarded contracts<\/a> on a build, own, and operate basis for the two plants, with Taqa acting as the managing and technical lead, and Jera serving as a technical member. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong><strong>Siemens is active in the Kingdom:<\/strong> The Saudi Electricity Company signed an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b4d089b9-ba4a-4fe6-8b2d-2cb00831c2e9\/\" style=\"\" rel=\"noopener\">agreement<\/a> with Siemens Energy in October on high-voltage gas-insulated switchgears, as well as seven more agreements for the localization of component production. Siemens also partnered with Egypt's Elsewedy Electric to develop a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8b7153bb-9820-4b54-8dd6-efaf926dc87f\" style=\"\" rel=\"noopener\">USD 800 mn power plant<\/a> in Rabigh, set to be fully completed by the end of 2026.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/harbin\/\">Harbin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/siemens-energy\/\">Siemens Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"95253\" 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=\"95253\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/bsf-agrees-to-lend-diriyah-sar-6-bn-for-wadi-safar-project\/\">\r\n                            BSF agrees to lend Diriyah SAR 6 bn for Wadi Safar project                        <\/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\/03\/13\/bsf-agrees-to-lend-diriyah-sar-6-bn-for-wadi-safar-project\/\" 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\/03\/13\/bsf-agrees-to-lend-diriyah-sar-6-bn-for-wadi-safar-project\/')\">\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\/03\/13\/bsf-agrees-to-lend-diriyah-sar-6-bn-for-wadi-safar-project\/\">\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=BSF agrees to lend Diriyah SAR 6 bn for Wadi Safar project&url=https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/bsf-agrees-to-lend-diriyah-sar-6-bn-for-wadi-safar-project\/\">\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\/03\/13\/bsf-agrees-to-lend-diriyah-sar-6-bn-for-wadi-safar-project\/&title=BSF agrees to lend Diriyah SAR 6 bn for Wadi Safar project\">\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=BSF+agrees+to+lend+Diriyah+SAR+6+bn+for+Wadi+Safar+project+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F03%2F13%2Fbsf-agrees-to-lend-diriyah-sar-6-bn-for-wadi-safar-project%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\/03\/13\/bsf-agrees-to-lend-diriyah-sar-6-bn-for-wadi-safar-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1039.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95254\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/bsf-agrees-to-lend-diriyah-sar-6-bn-for-wadi-safar-project\/1039-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1039.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1039.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1039.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1039.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95253\" class=\"content-area-description single-story post-95253 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-banque-saudi-fransi-bsf tag-debt-watch tag-enterpriseam-ksa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.e73a1852-e7a1-4a9c-a25b-cd6a2e87df0e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> PIF-owned Diriyah Company secured a SAR 6 bn (USD 1.2 bn) financing agreement from <\/strong><strong>Banque Saudi Fransi<\/strong> (BSF) to fund the development of Diriyah\u2019s <a target=\"_blank\" href=\"https:\/\/www.wadisafar.com\/en\/login\" style=\"\" rel=\"noopener\">Wadi Safar<\/a> project, the company said in <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/diriyah-company_diriyah-diriyahcompany-wadisafar-activity-7305591359099334656-N5IU\/\" style=\"\" rel=\"noopener\">a statement on LinkedIn<\/a>. No further details were provided on the financing terms. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Work began on the Wadi Safar project in July 2024, after the master developer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3947d29c-d880-40f5-b441-19f2a4363563\/\" style=\"\" rel=\"noopener\">awarded a SAR 8 bn contract<\/a> to a joint venture comprising local contractor Al Bawani and Urbacon Saudi to build four luxury hotels as well as the Royal Diriyah Equestrian and Polo Club. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the project:<\/strong> Wadi Safar is a master-planned gated community with resorts, branded residences, and retail outlets. The development \u201cis set to attract over 50 mn visitors by 2030, making it one of the world\u2019s most important cultural and tourism destinations,\u201d Diriyadh said in its statement. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/banque-saudi-fransi-bsf\/\">Banque Saudi Fransi (BSF)<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"95255\" 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=\"95255\">\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\">Sports<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/saudi-club-spending-on-intl-transfers-slows-in-2024-but-remains-the-highest-in-the-arab-region\/\">\r\n                            Saudi club spending on int\u2019l transfers slows in 2024 \u2014 but remains the highest in the Arab region                        <\/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\/03\/13\/saudi-club-spending-on-intl-transfers-slows-in-2024-but-remains-the-highest-in-the-arab-region\/\" 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\/03\/13\/saudi-club-spending-on-intl-transfers-slows-in-2024-but-remains-the-highest-in-the-arab-region\/')\">\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\/03\/13\/saudi-club-spending-on-intl-transfers-slows-in-2024-but-remains-the-highest-in-the-arab-region\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Saudi club spending on int\u2019l transfers slows in 2024 \u2014 but remains the highest in the Arab region&url=https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/saudi-club-spending-on-intl-transfers-slows-in-2024-but-remains-the-highest-in-the-arab-region\/\">\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\/03\/13\/saudi-club-spending-on-intl-transfers-slows-in-2024-but-remains-the-highest-in-the-arab-region\/&title=Saudi club spending on int\u2019l transfers slows in 2024 \u2014 but remains the highest in the Arab region\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Saudi+club+spending+on+int%E2%80%99l+transfers+slows+in+2024+%E2%80%94+but+remains+the+highest+in+the+Arab+region+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F03%2F13%2Fsaudi-club-spending-on-intl-transfers-slows-in-2024-but-remains-the-highest-in-the-arab-region%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\/03\/13\/saudi-club-spending-on-intl-transfers-slows-in-2024-but-remains-the-highest-in-the-arab-region\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1038.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95256\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/saudi-club-spending-on-intl-transfers-slows-in-2024-but-remains-the-highest-in-the-arab-region\/1038-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1038.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1038.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1038.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1038.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95255\" class=\"content-area-description single-story post-95255 post type-post status-publish format-standard has-post-thumbnail hentry category-_newspack_sports tag-enterpriseam-ksa tag-investment-watch tag-saudi-pro-league-spl tag-sports wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.c079a37f-2609-48d0-94a6-11ce225cd266.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>The S<\/strong><strong>audi Pro League remains the largest spender in the Arab region on international<\/strong><strong> signings<\/strong>, despite spending 52.1% less y-o-y in 2024, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/941.pdf\" style=\"\" rel=\"noopener\">Asharq Mercato report (pdf)<\/a>. Saudi football clubs\u2019 total spending on international transfers fell to USD 465 from USD 970 mn, marking a sharp contrast with the 18.3x growth experienced between 2022 and 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Targeting young talent:<\/strong> Saudi Pro League clubs invested a combined EUR 153.1 mn on players under the age of 23 during the year, up from EUR 54 mn in 2023. Notable signings include 21-year-old Marcos Leonardo moving from Benfica to Al Hilal for EUR 40 mn, as well as Brazilian promising talents Angelo Gabriel (EUR 23 mn) and Wesly Gassova (EUR 18 mn) arriving to Al Nasr from Chelsea and Corinthians, respectively.<strong><\/p>\n<p><\/strong><strong>REMEMBER- <\/strong>Officials <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1f6f2e26-b946-45ce-912f-88836551d4bf\/%253cmark%253esaudi%253c%2Fmark%253e-set-to-host-world%25e2%2580%2599s-first-olympic-esports-games-in-2025#:~:text=%232%2D%20A%20change%20of%20tactics%20at%20the%20Saudi%20Pro%20League%20(SPL)%3F%20League%20officials%20have%20reportedly\" style=\"\" rel=\"noopener\">reportedly asked clubs<\/a> to focus on homegrown talent and luring promising young international players that can now \u201clearn from the best,\u201d following the 2023 summer transfer window which saw the likes of Neymar, Karim Benzema, and Sadio Mane join the SPL. \u201cThis strategic focus on youth players allows us to build long-term success, competitiveness, and sustainability for both the league and the clubs,\u201d an SPL spokesperson said last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The regional picture: <\/strong>Arab clubs\u2019 spending on international transfers fell 45.3% y-o-y to USD 667.7 mn in 2024, following a 12.5x growth clip to USD 1.2 bn in the previous year. Meanwhile, revenues were up 40.5% y-o-y at USD 71.2 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We spend the most, but we also make the most: <\/strong>Saudi clubs\u2019 average revenue grew 65.1% y-o-y to SAR 27.9 mn over the same period \u2014 outpacing and out-earning their Arab peers, bagging USD 54.8 mn between 2020 and 2024. The SPL was followed by Egypt\u2019s EPL (USD 46.3 mn) and Morocco\u2019s Bottola Pro 1 (USD 42.9 mn). Meanwhile, Saudi spending came in at some SAR 1.6 bn, with Qatar (USD 394.7 mn), the UAE (USD 175.4 mn), and Egypt (USD 38.9 mn) trailing behind.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And it\u2019s paying off: <\/strong>Saudi Arabia\u2019s sports sector added <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b82f9fd8-7b54-4b4d-b9cb-a7d5a36973ac\/sports-contributed-usd-6.9-bn-to-saudi-arabia%25e2%2580%2599s-gdp-last-year\" style=\"\" rel=\"noopener\">USD 6.9 bn<\/a> to the Kingdom\u2019s GDP in 2023 \u2014 up from USD 2.4 bn in 2016, a report by Surj Sports Investment revealed in December. In 2023, the local sports market grew 12.5% y-o-y to USD 7.2 bn, and forecasters predict the market may hit USD 22.4 bn by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The Sports Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6749eda8-2cd0-4966-b425-e6ec7dfbcae8\/a-fresh-sar-1.7-bn-package-to-support-sports-development\" style=\"\" rel=\"noopener\">unveiled a SAR 1.7 bn package<\/a> to three sports initiatives for the 2024-2025 season last December in a bid to support club development. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-pro-league-spl\/\">Saudi Pro League (SPL)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"95257\" 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=\"95257\">\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\/03\/13\/savola-group-bottom-line-jumps-more-than-1000-in-2024-on-alamari-transaction\/\">\r\n                            Savola Group bottom line jumps more than 1,000% in 2024 on Alamari transaction                        <\/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\/03\/13\/savola-group-bottom-line-jumps-more-than-1000-in-2024-on-alamari-transaction\/\" 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\/03\/13\/savola-group-bottom-line-jumps-more-than-1000-in-2024-on-alamari-transaction\/')\">\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\/03\/13\/savola-group-bottom-line-jumps-more-than-1000-in-2024-on-alamari-transaction\/\">\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=Savola Group bottom line jumps more than 1,000% in 2024 on Alamari transaction&url=https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/savola-group-bottom-line-jumps-more-than-1000-in-2024-on-alamari-transaction\/\">\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\/03\/13\/savola-group-bottom-line-jumps-more-than-1000-in-2024-on-alamari-transaction\/&title=Savola Group bottom line jumps more than 1,000% in 2024 on Alamari transaction\">\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=Savola+Group+bottom+line+jumps+more+than+1%2C000%25+in+2024+on+Alamari+transaction+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F03%2F13%2Fsavola-group-bottom-line-jumps-more-than-1000-in-2024-on-alamari-transaction%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\/03\/13\/savola-group-bottom-line-jumps-more-than-1000-in-2024-on-alamari-transaction\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/699.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95258\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/savola-group-bottom-line-jumps-more-than-1000-in-2024-on-alamari-transaction\/699-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/699.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"699.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/699.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/699.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95257\" class=\"content-area-description single-story post-95257 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-arabian-drilling tag-earnings-watch tag-enterpriseam-ksa tag-group-five-pipe tag-savola-group tag-sustained-infrastructure-holding-company-sisco 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\/3\/.8a866df7-2f89-4c2e-a1a9-a769d811882b.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\">SAVOLA GROUP-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.savola.com\/en\" style=\"\" rel=\"noopener\">Savol<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.savola.com\/en\" style=\"\" rel=\"noopener\">a\u2019s Group<\/a><\/strong><strong>\u2019s net income rose 1,009.2% y-o-y to SAR 9.9 bn in FY 2024<\/strong>, driven primarily by a SAR 11.3 bn net gain from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/72a0a6a6-ac0b-4ef8-96af-4a6472215804\/\" style=\"\" rel=\"noopener\">offloading its entire stake<\/a> in Almarai, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85703&anCat=1&cs=2050&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The higher bottom line came despite Savola incurring losses from divestments in Iran and discontinued operations in Sudan, as well as its food processing segment seeing its net income fall by SAR 2.1 bn. Meanwhile, Savola also incurred SAR 139 mn in FX losses from the EGP. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Savola\u2019s revenue edged down 0.7% y-o-y to SAR 23.9 bn during the year<\/strong>, with revenue growth in the retail and frozen food segments offset by weaker food processing sales, weighed down by lower commodity prices and divestment from Savola Morocco Company. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company will not distribute dividends for FY 2024<\/strong>, as it had already distributed SAR 21.1 bn worth of Almarai shares to eligible shareholders in December, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85704&anCat=1&cs=2050&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ARABIAN DRILLING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arabian<\/strong><strong> Drilling sa<\/strong><strong>w its net income decline 46.9% y-o-y to SAR 321.4 mn in FY<\/strong><strong> 2024<\/strong> due to the deployment of 13 offshore and three land rigs, and higher finance and depreciation expenses, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/931.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/931.pdf\" style=\"\" rel=\"noopener\">)<\/a>. Revenue grew 4.1% y-o-y to SAR 3.62 bn during the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>Arabian Drilling is targeting SAR 800 mn in revenue for FY 2025, reaping the rewards of its SAR 1.3 bn in 13 new unconventional gas rigs, CEO Ghassan Mirdad told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/73699\/%D8%A7%D9%84%D8%AD%D9%81%D8%B1-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%AA%D8%AA%D9%88%D9%82%D8%B9-%D8%A5%D9%8A%D8%B1%D8%A7%D8%AF%D8%A7%D8%AA-%D8%A8%D8%A7%D9%84%D9%85%D9%84%D8%A7%D9%8A%D9%8A%D9%86-%D9%85%D9%86-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D8%BA%D9%8A%D8%B1-%D8%A7%D9%84%D8%AA%D9%82%D9%84%D9%8A%D8%AF%D9%8A\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The company is focusing on tenders in Southeast Asia and West Africa, while also pursuing onshore contracts in Kuwait. Mirdad anticipates stable domestic rig demand supported by shifts from oil to gas platforms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividends: <\/strong>The company\u2019s board approved the distribution of SAR 120.2 mn in dividends for 2H 2024 at SAR 1.35 per share, set to be distributed on 8 April, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85723&anCat=1&cs=2381&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. This brings the total dividend payout for FY 2024 to SAR 240.3 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THEEB-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.theebonline.com\/\" style=\"\" rel=\"noopener\">Theeb R<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.theebonline.com\/\" style=\"\" rel=\"noopener\">en<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.theebonline.com\/\" style=\"\" rel=\"noopener\">t a Car<\/a><\/strong><strong>\u2019s net income increased 28.6% y-o-y to SAR 182.7 mn in FY 2024<\/strong>, driven by stronger performance of short- and long-term rental segments and reduced operational costs, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85725&anCat=1&cs=4261&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Revenue also increased 14.7% y-o-y to SAR 1.3 bn on the back of healthier returns, offsetting a decline in income from its short-term rental segment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividends: <\/strong>The car rental car company will be distributing SAR 25.4 mn in dividends for 4Q 2024 at SAR 0.59 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=85726&anCat=1&cs=4261&locale=en\" style=\"\" rel=\"noopener\">separate disclosure<\/a>. Eligibility date is set for 16 March, with distribution scheduled for 26 March.<\/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\">SAICO-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.saico.com.sa\/\" style=\"\" rel=\"noopener\">Saudi A<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saico.com.sa\/\" style=\"\" rel=\"noopener\">rabian<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saico.com.sa\/\" style=\"\" rel=\"noopener\">Cooperative<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saico.com.sa\/\" style=\"\" rel=\"noopener\">Ins.<\/a><\/strong><strong> (SAICO) saw its net income fall 30.6% y-o-y to SAR 49.3 mn in FY <\/strong><strong>2024<\/strong> on the back of lower returns from its medical business and rising operating expenses, which were offset by better return on investments, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85705&anCat=1&cs=8100&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The company logged a 3.5% y-o-y revenue growth to SAR 1.1 bn during the year.<\/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\">SUSTAINED INFRASTRUCTURE HOLDING-<\/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:\/\/sisco.com.sa\/en\" style=\"\" rel=\"noopener\">Sustai<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/sisco.com.sa\/en\" style=\"\" rel=\"noopener\">ned Infrastructure Holding Company<\/a><\/strong><strong> (Sisco)<\/strong><strong> reported a net loss of <\/strong><strong>SAR 740k<\/strong><strong> in FY <\/strong><strong>2024<\/strong> due to non-recurring provisions and losses, increased investment costs, and higher finance charges, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/960.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Revenue fell 17.6% y-o-y to SAR 1.3 bn during the period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">NORTHERN REGION CEMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.nrc.com.sa\/\" style=\"\" rel=\"noopener\">Northern<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nrc.com.sa\/\" style=\"\" rel=\"noopener\">Re<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nrc.com.sa\/\" style=\"\" rel=\"noopener\">gion Cement<\/a><\/strong><strong>\u2019s net income grew 78.9% y-o-y in 2024 to SAR 100.9 mn<\/strong>, driven by gains from selling part of its investments in Iraq, lower financing costs, and lack of settlements, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85732&anCat=1&cs=3004&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Meanwhile, revenue fell 9.7% y-o-y to SAR 622.5 mn, despite a higher average sales price.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/arabian-drilling\/\">Arabian Drilling<\/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\/group-five-pipe\/\">Group Five Pipe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/savola-group\/\">Savola Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sustained-infrastructure-holding-company-sisco\/\">Sustained Infrastructure Holding Company (SISCO)<\/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=\"95259\" 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=\"95259\">\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\/03\/13\/diriyah-unveils-armani-residences-media-district-at-mipim-cannes\/\">\r\n                            Diriyah unveils Armani Residences &amp; Media District at MIPIM Cannes                        <\/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\/03\/13\/diriyah-unveils-armani-residences-media-district-at-mipim-cannes\/\" 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\/03\/13\/diriyah-unveils-armani-residences-media-district-at-mipim-cannes\/')\">\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\/03\/13\/diriyah-unveils-armani-residences-media-district-at-mipim-cannes\/\">\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=Diriyah unveils Armani Residences &#038; Media District at MIPIM Cannes&url=https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/diriyah-unveils-armani-residences-media-district-at-mipim-cannes\/\">\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\/03\/13\/diriyah-unveils-armani-residences-media-district-at-mipim-cannes\/&title=Diriyah unveils Armani Residences &#038; Media District at MIPIM Cannes\">\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=Diriyah+unveils+Armani+Residences+%26%23038%3B+Media+District+at+MIPIM+Cannes+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F03%2F13%2Fdiriyah-unveils-armani-residences-media-district-at-mipim-cannes%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\/03\/13\/diriyah-unveils-armani-residences-media-district-at-mipim-cannes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2388.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95260\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/diriyah-unveils-armani-residences-media-district-at-mipim-cannes\/2388-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2388.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2388.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2388.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2388.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95259\" class=\"content-area-description single-story post-95259 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-diriyah tag-enterpriseam-ksa tag-etihad-atheeb-telecommunications-go tag-idemia tag-red-sea-gateway-terminal-rsgt tag-roshn-group tag-saudi-telecom-company-stc tag-saudi-egypt-relations tag-tahakom 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\/3\/.4bddc7e1-a46a-4bd6-9317-7031930c2c79.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\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong><a target=\"_blank\" href=\"https:\/\/www.diriyahcompany.sa\/en\" style=\"\" rel=\"noopener\">Diriya<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.diriyahcompany.sa\/en\" style=\"\" rel=\"noopener\">h Compa<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.diriyahcompany.sa\/en\" style=\"\" rel=\"noopener\">ny<\/a><\/strong><strong> launched its Media and Innovation District and Armani Residences <\/strong><strong>during the MIPIM festival in Cannes<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/diriyah-company-launches-future-focused-media-and-innovation-district-huh849b5\" style=\"\" rel=\"noopener\">press release<\/a>. Located near the Diriyah Arena, the 250k-sqm district is set to feature 450 residential homes, over 15k sqm of retail space, and a 325-room 1 Hotel Diriyah.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong>The Italian studio Armani \/ Casa will design the 15 limited-edition residences Armani Residences Diriyah and a 70-room Armani Hotel Diriyah, it said in a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/diriyah-company-announces-the-launch-of-armani-residences-diriyah-marking-armanis-debut-in-saudi-arabia-trdr5xcm\" style=\"\" rel=\"noopener\">separate release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Diriyah is expanding its luxury residential portfolio with branded residences from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ac494016-0fa7-4460-b031-37d0714a029b\/diriyah-breaks-ground-on-seven-hotels\" style=\"\" rel=\"noopener\">Baccarat<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/07c7ea0f-1794-453b-a99c-192b1f536915\/it%25e2%2580%2599s-inflation-day\" style=\"\" rel=\"noopener\">Ritz-Carlton<\/a> to provide housing options for 100k residents, attract 50 mn annual visitors, and contribute with USD 18.6 bn directly to Saudi Arabia\u2019s GDP.<\/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>RSGT d<\/strong><strong>rops anchor in Djibouti: <\/strong>Port operator Red Sea Gateway Terminal (RSGT) inked an MoU to operate and manage Djibouti\u2019s Tadjourah Port for 30 years in a bid to optimize efficiency across port operations, according to a <a target=\"_blank\" href=\"https:\/\/dpfza.gov.dj\/signing-ceremony-mou-between-port-tadjourah-and-red-sea-gateway-terminal-international-limited\" style=\"\" rel=\"noopener\">statement<\/a>. No investment ticket or timeline for the project was disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Making moves in Djibouti:<\/strong> A consortium of Saudi investors inked <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/435b8359-8957-442e-ad89-6d768d514c7d\/saudi-investment-recycling-%2B-hellenic-environmental-center-to-set-up-environmental-processing-centers-in-the-kingdom\" style=\"\" rel=\"noopener\">a 92-year contract<\/a> in June to establish a 120k sqm Saudi Logistics City in Djibouti Port freezone \u2014 poised to become the Kingdom\u2019s largest foreign logistics zone. The project is set to position Djibouti\u2019s port as a gateway for Saudi exports to Africa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FINANCIAL SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"http:\/\/www.go.com.sa\/\" style=\"\" rel=\"noopener\">Etihad<\/a><\/strong><strong><a target=\"_blank\" href=\"http:\/\/www.go.com.sa\/\" style=\"\" rel=\"noopener\"><\/a><\/strong><strong><a target=\"_blank\" href=\"http:\/\/www.go.com.sa\/\" style=\"\" rel=\"noopener\">Atheeb<\/a><\/strong><strong><a target=\"_blank\" href=\"http:\/\/www.go.com.sa\/\" style=\"\" rel=\"noopener\">Telecommunication<\/a><\/strong><strong> (<\/strong><strong>Go Telecom<\/strong><strong>) to establish Hulool Al Intilaq Finance<\/strong>, a micro-consumer financing subsidiary with an initial capital of SAR 20 mn, after obtaining a license from the Saudi Central Bank, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85730&anCat=1&cs=7040&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The telecom company is currently in the process of meeting all licensing requirements, which need to be completed within six months from the initial approval, before applying for a full license.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE -<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SEPC <\/strong><strong>+ Roshn sign agreement for infrastructure work in Jeddah:<\/strong> India-based construction engineering company SEPC signed a framework agreement with Roshn Group to carry out infrastructure work in three zones of Jeddah North, Phase 1A for a combined amount of SAR 893 mn, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/983.pdf\" style=\"\" rel=\"noopener\">filing (pdf)<\/a> to the Indian exchange. SEPC is expected to receive orders for at least one of the three zones they've bid for. No further details were provided.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diriyah\/\">Diriyah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/etihad-atheeb-telecommunications-go\/\">Etihad Atheeb Telecommunications (GO)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/idemia\/\">Idemia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/red-sea-gateway-terminal-rsgt\/\">Red Sea Gateway Terminal (RSGT)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/roshn-group\/\">Roshn Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-telecom-company-stc\/\">Saudi Telecom Company (STC)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-egypt-relations\/\">Saudi-Egypt relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tahakom\/\">Tahakom<\/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=\"95261\" 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=\"95261\">\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\/03\/13\/positive-inflation-report-offers-relief-to-battered-us-stocks\/\">\r\n                            Positive inflation report offers relief to battered US stocks                        <\/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\/03\/13\/positive-inflation-report-offers-relief-to-battered-us-stocks\/\" 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\/03\/13\/positive-inflation-report-offers-relief-to-battered-us-stocks\/')\">\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\/03\/13\/positive-inflation-report-offers-relief-to-battered-us-stocks\/\">\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=Positive inflation report offers relief to battered US stocks&url=https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/positive-inflation-report-offers-relief-to-battered-us-stocks\/\">\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\/03\/13\/positive-inflation-report-offers-relief-to-battered-us-stocks\/&title=Positive inflation report offers relief to battered US stocks\">\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=Positive+inflation+report+offers+relief+to+battered+US+stocks+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F03%2F13%2Fpositive-inflation-report-offers-relief-to-battered-us-stocks%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\/03\/13\/positive-inflation-report-offers-relief-to-battered-us-stocks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1027.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95262\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/positive-inflation-report-offers-relief-to-battered-us-stocks\/1027-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1027.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1027.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1027.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1027.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95261\" class=\"content-area-description single-story post-95261 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets tag-inflation tag-planet-finance 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\/3\/.93257851-b5cd-431f-b989-aca22d343777.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> It\u2019s been a turbulent week for the US economy. <\/strong>Fresh inflation data showed price pressures easing slightly, but fears of escalating trade tensions and a potential recession have rattled Wall Street. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How inflation fared last month: <\/strong>Price pressures eased slightly last month with headline inflation coming in at 2.8%, below economists\u2019 forecasts of 2.9-3%, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6d7c6915-4ceb-43fc-9896-590036b12a87\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. The <a target=\"_blank\" href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\" style=\"\" rel=\"noopener\">consumer price index<\/a> from the US\u2019 Bureau of Labor Statistics showed core inflation increased 0.2%, less than the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4c8a3ef7-b376-41e0-88bf-19c4e52fa727\/all-eyes-are-on-us-inflation-data-this-week,-while-china-faces-deflationary-pressures\" style=\"\" rel=\"noopener\">0.3% expected<\/a> and down from January\u2019s 0.3%, but still sits above the Fed\u2019s targeted 2%. <strong>Futures markets are now expecting between two and three interest rate cuts<\/strong> this year from the Fed, according to the salmon colored paper.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite cooling inflation, recession risks persist. <\/strong>JP Morgan\u2019s chief economist Bruce Kasman told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/jp-morgan-economist-sees-40-us-recession-chance-risks-exorbitant-privilege-2025-03-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> there is a 40% chance of a US recession this year, citing economic uncertainty and the potential impact of US President Donald Trump\u2019s import tariffs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The positive inflation report gave US stocks some respite after the battering they took <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6e0c4837-8cdd-4738-a924-3d98953a06c0\/this-morning:-india%25e2%2580%2599s-infibeam-eyes-adx-listing-%2B-alpha-dhabi,-mubadala-private-credit-venture-deploys-usd-1-bn-in-capital\" style=\"\" rel=\"noopener\">earlier this week<\/a><\/strong>, with most indexes gaining some ground. The S&P 500 ended Wednesday up 0.5% after swinging between a stronger early rally and a midday pullback. Meanwhile, the tech-heavy Nasdaq gained 1.2%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- The S&P 500 briefly entered correction territory on Tuesday<\/strong>, down more than 10% from its recent peak, as investor confidence eroded. It also wiped out USD 4 tn on Monday. The sharp sell-off has been driven largely by a 14% plunge in the \u201cMagnificent 7\u201d tech stocks, according to Goldman Sachs, with their price-to-earnings ratio falling from 30x to 26x. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still, Wall Street is growing increasingly pessimistic about economic stability<\/strong>, with Goldman Sachs cutting its S&P 500 year-end target to 6.2k from 6.5k, citing slower growth and heightened policy risks, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/goldman-sachs-cuts-sp-500-2025-year-end-target-6200-2025-03-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. \u201cThere\u2019s a huge reset going on right now and a lot of trepidation in the market,\u201d Dec Mullarkey, managing director at fund manager SLC Management, told the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e0c8ec54-dca5-4890-9371-f4ed70ce9e19\" style=\"\" rel=\"noopener\">FT<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hopes for a so-called \u201cTrump put\u201d \u2014 the belief that the president would intervene to stabilize markets \u2014 are fading.<\/strong> Unlike his first term, when stock sell-offs often led to policy reversals, investors now fear Trump may tolerate market turbulence to push through his economic agenda. <\/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\">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<\/strong>, with Japan\u2019s Nikkei and Topix, as well as South Korea\u2019s Kospi, all up in early trade, while China\u2019s CSI 300 and Hong Kong\u2019s Hang Seng down marginally. <strong>Over on Wall Street<\/strong>, futures indicate a strong open to continue yesterday\u2019s rally. <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\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>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,705<\/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: -2.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,477<\/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: -32.4%)<\/p>\n<\/td>\n<\/tr>\n<tr style=\"\">\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:50.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\">Uo<\/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\">31,173<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3% (YTD: -1.0%)<\/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-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">31,049<\/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: +4.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,416<\/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: 0.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,157<\/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: 0.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,603<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: -4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,541<\/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: +4.5%)<\/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>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\">5,359<\/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: +9.5%)<\/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 70.95<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.0%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 4.01<\/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\">-1.7%<\/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>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 2,945<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 83,800<\/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\">+1.1% (YTD: -10.6%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI <\/strong>fell 0.1% <strong>yesterday <\/strong>on turnover of SAR 5.4 bn. The index is down 2.8% 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> AlBaha (+8.3%), Albabtain (+7.1%) and Artex (+6.5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Siig (-4.0%), Savola Group (-3.5%) and Acwa Power (-3.3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong> rose 1.3% <strong>yesterday <\/strong>on turnover of SAR 28.4 mn. The index is down 1.0% 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> Mulkia (+9.9%), KnowledgeNet (+8.6%) and Aictec (+7.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Alwaha Reit (-8.0%), Keir (-5.9%) and Ratio (-3.9%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/inflation\/\">Inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"95263\" 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\/03\/13\/95263\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95263\" class=\"content-area-description single-story post-95263 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;\">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. <\/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;\">13 March (Thursday): Final allocation of shares for Umm Al Qura for Development and Construction\u2019s Tadawul IPO.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">16 March (Sunday): Surplus refunds for Umm Al Qura for Development and Construction\u2019s Tadawul IPO. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 March: Settlement date for Saudi National Bank\u2019s USD-denominated Formosa bonds.<\/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 (TBC).<\/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>31 March (Monday): Deadline for applying to the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wipo.int\/web\/awards\/global\/index\" style=\"\">World Intellectual Property Organization (WIPO) Global Awards 2025<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">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 April (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 (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 style=\"font-weight:400;\">17-23 April (Thursday-Wednesday): 11th edition of the Saudi Film Festival, Dhahran. <\/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:\/\/www.formula1.com\/en\/racing\/2025\/saudi-arabia\" style=\"\">Saudi Arabian Grand Prix<\/a><\/span><span style=\"font-weight:400;\">, Jeddah Corniche Circuit, 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>28 April- 30 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/automechanika-riyadh.ae.messefrankfurt.com\/riyadh\/en.html\" style=\"\">Automechanika Riyadh<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention and Exhibition Center, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span 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>May: The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wipo.int\/web\/awards\/global\/index\" style=\"\">World Intellectual Property Organization (WIPO) Global Awards 2025<\/a><\/span><span style=\"font-weight:400;\"> announces its results.<\/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>July: The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wipo.int\/web\/awards\/global\/index\" style=\"\">World Intellectual Property Organization (WIPO) Global Awards 2025<\/a><\/span><span style=\"font-weight:400;\"> awards ceremony, Geneva.<\/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>4-13 December (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/redseafilmfest.com\/en\/\" style=\"\">Red Sea International Film Festval<\/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>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\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>Scopely acquires Pokemon Go | Siemens Energy lands USD 1.6 bn project | BSF x Diriyah financing<\/p>\n","protected":false},"featured_media":95242,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-95241","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1ae86c9f-7692-4f87-9903-9cb9a7268068","teaser":"Scopely acquires Pokemon Go | Siemens Energy lands USD 1.6 bn project | BSF x Diriyah financing","photo_url":"https:\/\/ent.news\/2024\/4\/1812.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>Budget deficit to reach 3.8% of GDP this year -Fitch - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget deficit to reach 3.8% of GDP this year -Fitch\" \/>\n<meta property=\"og:description\" content=\"Scopely acquires Pokemon Go | Siemens Energy lands USD 1.6 bn project | BSF x Diriyah financing\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-14T20:31:40+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1812.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/\",\"name\":\"Budget deficit to reach 3.8% of GDP this year -Fitch - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1812.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2025-03-13T00:00:00+00:00\",\"dateModified\":\"2025-12-14T20:31:40+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1812.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1812.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Budget deficit to reach 3.8% of GDP this year -Fitch\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Budget deficit to reach 3.8% of GDP this year -Fitch - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/","og_locale":"en_US","og_type":"article","og_title":"Budget deficit to reach 3.8% of GDP this year -Fitch","og_description":"Scopely acquires Pokemon Go | Siemens Energy lands USD 1.6 bn project | BSF x Diriyah financing","og_url":"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/","og_site_name":"KSA","article_modified_time":"2025-12-14T20:31:40+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1812.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/","url":"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/","name":"Budget deficit to reach 3.8% of GDP this year -Fitch - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1812.jpg?fit=%2C&ssl=1","datePublished":"2025-03-13T00:00:00+00:00","dateModified":"2025-12-14T20:31:40+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1812.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1812.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/issues\/budget-deficit-to-reach-3-8-of-gdp-this-year-fitch\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/ksa\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"Budget deficit to reach 3.8% of GDP this year -Fitch"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/95241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/95241\/revisions"}],"predecessor-version":[{"id":95283,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/95241\/revisions\/95283"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/95242"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=95241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=95241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=95241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}