{"id":95897,"date":"2025-04-10T00:00:00","date_gmt":"2025-04-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=95897"},"modified":"2025-12-14T20:42:59","modified_gmt":"2025-12-14T20:42:59","slug":"aramco-sinopec-move-ahead-with-yasref-petrochemical-expansion-oil-gas-fields-discovered-in-eastern-province-empty-quarter","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/aramco-sinopec-move-ahead-with-yasref-petrochemical-expansion-oil-gas-fields-discovered-in-eastern-province-empty-quarter\/","title":{"rendered":"Aramco, Sinopec move ahead with Yasref petrochemical expansion + Oil &#038; gas fields discovered in Eastern Province, Empty Quarter"},"content":{"rendered":"<section id=\"95899\" 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=\"95899\">\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\/04\/10\/tesla-is-debuting-in-the-kingdom-today-pif-owned-seven-completes-60-of-al-hamra-project-in-riyadh\/\">\r\n                            THIS MORNING: Tesla is debuting in the Kingdom today + PIF-owned Seven completes 60% of Al Hamra project in Riyadh                        <\/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\/04\/10\/tesla-is-debuting-in-the-kingdom-today-pif-owned-seven-completes-60-of-al-hamra-project-in-riyadh\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Meanwhile, Saudi Electricity Company has launched phase two of its Battery Energy Storage System project, and Lucid has closed a USD 1 bn convertible bond sale. And a lot more..<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT FIRST- We here at EnterpriseAM World Headquarters have put our heads together<\/strong> and humbly offer a handful of thoughts in the hope that they might help you clear your heads before we slide into the weekend. The rundown:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That feeling you\u2019ve got? The one perhaps best described as \u201cwhiplash\u201d? It\u2019s the new <\/strong><strong>normal <\/strong>\u2014 maybe for the next few months, perhaps for the coming 3.7 years of the Trump administration. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Things are so volatile that even watching the VIX will give you motion sickness. <\/strong>The VIX, or the so-called \u201cfear index\u201d that tracks expected 30-day volatility in the S&P 500, broke north of 52 earlier this week. It stayed there through much of yesterday before plunging to the 33 level by the close of trading in New York as traders welcomed Trump\u2019s social media post <strong>that most countries (with the exception of China) would face only a new 10% baseline tariff for the next 90 days<\/strong>. Most other \u201creciprocal tariffs\u201d on most countries are now on pause.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>The last time the VIX was this high was during covid, when it hit 65. It was at 70 in October 2018 (at the height of the global financial crisis) and 42 during the dotcom meltdown. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So, if volatility is the new normal, how should we feel about business and markets<\/strong> in the days and weeks ahead? Here are some thoughts from Dubai, where we\u2019ve spent the week speaking with business leaders from Saudi Arabia, Egypt, and the UAE, as well as global fund and portfolio managers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Get comfortable with being uncomfortable. <\/strong>Volatility could be on the menu for years to come (for at least the duration of the Trump administration). Periods of calm punctuated by a punch to the head could be the new normal. Then again, ours is an adaptable species: As our friend Mostafa Gad, the global head of IB at EFG Hermes, put it earlier this week, \u201cMarkets adapt faster today than they did in the 1980s or 1990s \u2014 they have a way of equilibrating and accepting change or adapting to crisis really quickly. What would have once taken 18 months to pass through now takes weeks.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>None of us in this part of the world like volatility. <\/strong>In the GCC, we\u2019re accustomed to pegged exchange rates and (for the most part) slow-but-steady policy formulation. In Egypt, we think of every 1 piaster change in the USD exchange rate as a harbinger of disaster. We need to adapt: A more nimble approach to policymaking in the Gulf will be the order of the day, and some volatility in the USD:EGP exchange rate is a sign the Central Bank of Egypt\u2019s FX policy is operating as intended.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- From tech to airlines and beyond, there\u2019s a healthy pipeline of IPOs ready for <\/strong><strong>execution in Saudi and the UAE. <\/strong>Expect most to take a \u201cwait and see\u201d attitude for the coming week or 10 days. If the 90-day pause in tariffs helps stabilize global equities markets, many bankers will want to pull the trigger on transactions before the 1H offering window closes. The (so-far) worst-case scenario: It takes a few months more for markets to accept the new normal. In that case, we\u2019re looking at a really busy fall for new offerings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Share-based M&A is very much on the table and it might be a good time for private <\/strong><strong>equity players to close transactions. <\/strong>Some PE players think valuations have been stubbornly high for a while, and the combination of lower comparables after the recent market slump and higher volatility could push serious buyers and sellers to transact *now*. The risk: Some sellers will walk away from prices they think are just too low. Expect share-based M&A to close with fewer hiccups than anything involving the commitment of cash. <strong>The wisdom of Warren Buffett\u2019s move to cash earlier this year is now clear to all. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Everyone will be watching the price of oil<\/strong> \u2014 the Saudis and Emiratis from a state revenues perspective, the Egyptians from the expenses side of the ledger. The emerging consensus is that even if Trump cools it on tariffs, we\u2019re looking at a slowdown in trade and a bit less demand for oil than forecast at the start of 2025. Oil in the 40s? Probably not. But something in the 50s? Possible \u2014 and with it, questions about financing the deficit and the pace of gigaprojects in the Kingdom in particular. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Appetite for Egypt may be coming back. <\/strong>The central bank proved this week to both foreign investors and the domestic business community that the float of the EGP was real. Egyptian companies at the One on One reported more demand for meetings yesterday than expected. Investors looking to buy into Egyptian debt on Tuesday and Wednesday found it harder than usual to build a position because of rising demand. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- The UAE looks better than ever. <\/strong>Businesses in the UAE have quietly trimmed staff and other expenses in recent weeks to optimize their cost base in a year in which they expect volatility. But the economy\u2019s fundamentals are strong and have been bolstered by regulatory reforms brought in post-covid. That real estate correction we\u2019ve been expecting for two years now? Yeah, there's a lot of new inventory coming onto the market this fall, but we feel a little like we\u2019ve been waiting for Godot on that front\u2026<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#7- Diversification of trade ties is going to be key for Mideast governments. <\/strong>From Saudi to Egypt to the UAE, all of us would have faced a 10% rate at the same time as others faced much sharper US tariffs, signalling we\u2019re in good stead with The Donald. Regardless of what happens with tariffs 90 days from now, deeper integration with a wider variety of trading partners will be the order of the day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE WILDCARD- The Donald is inbound to the Gulf in about a month\u2019s time. <\/strong>US Energy Secretary Christopher Wright is on a nearly two-week visit to our corner of the world, laying the groundwork for Trump to land in Saudi, UAE, and Qatar some time in mid-May. (Dates for the visit, which hasn\u2019t been confirmed, are still uncertain.)<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a> <\/strong><strong>Tesla is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.tesla.com\/en_sa\/event\/tesla-kingdom-of-saudi-arabia\" style=\"\" rel=\"noopener\">debuting<\/a><\/strong><strong> in the Kingdom today at the Bujairi Terrace in Riyadh.<\/strong> The event will showcase the company\u2019s electric vehicles, solar-powered products, and new technology, including an autonomous taxi and humanoid robot. We\u2019re keeping a close eye out and will give you the rundown on Sunday\u2019s issue.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Expect windy conditions in Riyadh and Madinah, while Makkah will see cloudy skies.<\/p>\n<ul>\n<li>Riyadh: 38\u00b0C daytime \/ 26\u00b0C overnight<\/li>\n<li>Makkah: 49\u00b0C daytime \/ 26\u00b0C overnight<\/li>\n<li>Madinah: 36\u00b0C daytime \/ 24\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\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Resident<\/strong><strong>s have 10 days left to benefit from the 50% discount on traffic fines <\/strong><strong>before it <\/strong><strong>expires on Friday, 18 April 2025<\/strong>, the General Department of Traffic said in a post on <a target=\"_blank\" href=\"https:\/\/x.com\/eMoroor\/status\/1909696528198856846\" style=\"\" rel=\"noopener\">X<\/a>. The discount applies to violations before 18 April 2024, and payments can be made in full or per violation.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> <\/strong><strong>PIF-owned<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/seven.sa\" style=\"\" rel=\"noopener\">Saudi Entertainment Ventures<\/a><\/strong><strong> (<\/strong><strong>Seven<\/strong><strong>) completed 60% of its Al<\/strong><strong> Hamra project <\/strong><strong>in Riyadh at an estimated cost of SAR 3.6 bn<\/strong>, Chief Projects Officer Abdulelah Alfawzan told <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2025\/04\/09\/article_2759567.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a>. The project is located on a 90k sqm plot with a built-up area of 167k sqm, and is expected to open in the near future.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Seven <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/62bc07d9-8ddd-42a8-86a4-2873c0043c2a\/day-2-at-leap-2025-brings-usd-7.5-bn-in-tech-investments\" style=\"\" rel=\"noopener\">signed<\/a> an agreement with Tawal in Feburary to build and run digital infrastructure at its 21 entertainment destinations across 14 cities, including Riyadh, Jeddah, Dammam, and Khobar.<\/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>Mawani reco<\/strong><strong>rds advance across the board in March:<\/strong> The Saudi General Authority for Ports (Mawani) recorded a 13.6% y-o-y boost in the volume of containers handled in March, reaching 699.9k TEUs, according to a <a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=90425\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong>Exported containers rose 31.8% y-o-y to over 280.3k TEUs, while the number of imported containers grew 7.8% y-o-y to 281.2k TEUs. The port handled 4.5 mn tons of solid bulk cargo, 15.7 mn tons of liquid bulk cargo, and 971.8k tons of general cargo. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> Maritime traffic grew by 6.75% y-o-y to over 1k vessels, while passenger traffic rose by 35.5% y-o-y to 84.6k, and vehicle traffic increased by 33.5% y-o-y to over 90.3k. The only operational decline was marked by transshipments, which slightly declined by 2.8% to 138.4k TEUs 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\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> <\/strong><strong>The Saudi <\/strong><strong>Pro League (SPL) launched the Fans\u2019 Choice Awards for season <\/strong><strong>2024-2025<\/strong>, giving supporters a chance to reward the best-performing clubs and players across six categories, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/4\/475.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Additionally, the SPL will distribute two additional prizes to recognize three corporate social responsibility initiatives and one sports personality.<\/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>Global investors are getting whiplash after US President Donald Trump\u2019s decision<\/strong><strong> to freeze reciprocal tariffs on most countries for 90 days triggered a historic market rally<\/strong>, helping Wall Street stocks recover tns of USDs in losses. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trump paused tariffs on (<\/strong><strong>most of) his reciprocal<\/strong><strong> tariffs on <\/strong><strong>(most)<\/strong><strong> countries and hiked China\u2019s tariff to 125%<\/strong>, up from 104%, after Beijing pushed ahead with a retaliatory tariff of 84% on US goods. The blanket 10% tariff on most countries, which came in effect over the weekend, still applies, as do steel and aluminum and automaker levies. The reprieve came in response to over 75 countries reaching out for negotiations with the US, according to Trump. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Nasdaq notched its best day in 24 years, while the S&P 500 soared nearly 10%. <\/strong>Trump had taken to Truth earlier in the day to say it\u2019s \u201cA GREAT TIME TO BUY,\u201d in reference to the stock market. US Treasuries also gained more than 4% as traders pared expectations for US Federal Reserve rate cuts this year, after a pullback had sent longer-term yields soaring. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil prices also gained 4%<\/strong>, climbing from a four-year low earlier, with Brent futures up to USD 65.48 a barrel, and West Texas Intermediate futures up nearly 5% at USD 62.35. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-slides-nearly-4-us-kicks-off-104-tariffs-china-2025-04-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The about-turn and the market rally are getting coverage everywhere:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-04-09\/markets-turn-from-fear-to-euphoria-as-trump-backpedals-on-tariffs?srnd=homepage-middle-east&embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/trumps-latest-tariffs-loom-set-deepen-global-trade-war-2025-04-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/82e5a5c0-3e7b-419d-92f9-7b84475af2c9\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-trump-tariffs-trade-war-04-09-25?mod=WSJ_home_supertoppertop_pos_1\" style=\"\" rel=\"noopener\">WSJ<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/04\/09\/trump-announces-90-day-tariff-pause-for-at-least-some-countries.html\" style=\"\" rel=\"noopener\">CNBC<\/a> <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-hamra\/\">Al Hamra<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tesla\/\">Tesla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/aramco-sinopec-move-ahead-with-yasref-petrochemical-expansion-plus-oil-gas-fields-discovered-in-eastern-province-empty-quarter\/\">\r\n                            Aramco, Sinopec move ahead with Yasref petrochemical expansion. PLUS: New oil, gas fields discovered in Eastern Province, Empty Quarter                        <\/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\/04\/10\/aramco-sinopec-move-ahead-with-yasref-petrochemical-expansion-plus-oil-gas-fields-discovered-in-eastern-province-empty-quarter\/\" 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\/04\/10\/aramco-sinopec-move-ahead-with-yasref-petrochemical-expansion-plus-oil-gas-fields-discovered-in-eastern-province-empty-quarter\/')\">\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\/04\/10\/aramco-sinopec-move-ahead-with-yasref-petrochemical-expansion-plus-oil-gas-fields-discovered-in-eastern-province-empty-quarter\/\">\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=Aramco, Sinopec move ahead with Yasref petrochemical expansion. 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Under the agreement, the parties will advance engineering studies to build a fully-integrated petrochemical complex.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> Yasref \u2014 a joint venture formed in 2015 \u2014 is owned by Aramco, which holds a majority stake of 62.5%, while Sinopec holds a 37.5% share. The refining site currently processes some 400k barrels per day of Arabian heavy crude oil, producing transportation fuels and other refined products, according to its <a target=\"_blank\" href=\"https:\/\/www.yasref.com\/en-us\/Pages\/About.aspx\" style=\"\" rel=\"noopener\">website<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The project looks to develop a \u201cstate-of-the-art\u201d petrochemical unit, and a large-scale mix feed stream cracker with a 1.8 mn tons per annum capacity, as well as a 1.5 mn tons per annum aromatics complex with linked downstream derivatives built into the existing Yasref complex.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Like clockwork:<\/strong> Aramco inked an MoU back in 2022 with Sinopec to collaborate on developing the petrochemical industry in the Kingdom, including refining, engineering, procurement, and complex construction, according to a separate <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2022\/aramco-and-sinopec-sign-mou-to-collaborate-on-projects-in-saudi-arabia\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s plenty in the pipeline:<\/strong> Aramco and Sinopec <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/edaaa0c6-7b1b-4f6f-a3bc-f5fff683f5a9\/aramco-%2B-sinopec-begin-construction-on%253cmark%253e-fujian%253c%2Fmark%253e-refinery\" style=\"\" rel=\"noopener\">kicked off construction work<\/a> at a refinery and petrochemical complex in southeast China\u2019s Fujian province back in November, with operations expected to begin in 2030. Aramco and Sinopec will each hold a 25% stake in the venture, while Fujian Petrochemical \u2014 a JV between Sinopec and the Fujian government \u2014 will hold the remaining 50%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ALSO- <strong>A<\/strong>RAMCO UNCOVERS OIL, GAS FIELDS<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Aramco strikes oil (and gas):<\/strong> Energy Minister Prince Abdulaziz bin Salman announced that Aramco discovered 14 new oil and natural gas fields in the Eastern Province and the Empty Quarter, according to a <a target=\"_blank\" href=\"https:\/\/www.moenergy.gov.sa\/media-center\/news\/161397a3-5dea-4e58-ae28-5197b104b8b8\" style=\"\" rel=\"noopener\">statement<\/a> from the Energy Ministry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How much are we talking about?<\/strong> Six oil fields and two reservoirs hold an estimated 8k bbl\/d of oil of various qualities, in addition to 2.11 mn cubic feet\/day of natural gas. Meanwhile, two gas fields and four reservoirs may produce up to 80.5 mn cubic feet\/day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The largest of the oil fields is in Aifan<\/strong>, with an estimated production of 2.8k bbl\/d, followed by a field in Nuwair that may produce 1.8k bbl\/d. Gas fields include a 32 mn cubic feet\/day at Ghazlan, as well as a 24 mn cubic feet\/day at Aram.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-china-relations\/\">Saudi-China relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sinopec\/\">Sinopec<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/yanbu-aramco-sinopec-refining-company-yasref\/\">Yanbu Aramco Sinopec Refining Company (Yasref)<\/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=\"95904\" 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=\"95904\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/sec-kickstarts-sar-6-7-bn-phase-two-of-battery-storage-project\/\">\r\n                            Saudi Electricity kickstarts phase two of battery storage project, with SAR 6.7 bn in investments                        <\/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\/04\/10\/sec-kickstarts-sar-6-7-bn-phase-two-of-battery-storage-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(); 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No timeline was disclosed for the projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>SEC will tap BYD and Al Fanar Projects Company to supply and build 500MW\/2GWh BESS across five locations \u2014 Riyadh, Al Qaisumah, Al Jawf, Al Dawadmi, and Rabigh. SEC and BYD <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/33ba2a2e-4216-48a4-af1e-7e6a81e551d0\" style=\"\" rel=\"noopener\">signed contracts<\/a> for the 12.5 GWh energy storage project in February, which included BYD\u2019s Cell-to-System integrated tech.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The goal is to increase energy reserves in the selected areas<\/strong>, increase supply flexibility, lowering response time to changes in demand, all while reducing operational costs, CNBC reported, citing the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Part of a bigger plan: <\/strong>The BESS project falls under the Ministry of Energy-monitored National Renewable Energy Program, which aims to increase the installed capacity of renewable energy in the Kingdom to 50% of the electricity mix by 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Ramping up <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/41c38650-cacb-4e3f-a3af-9ab9c1283b76\/saudi-arabia%25e2%2580%2599s-renewable-energy-capacity-to-double-by-year-end\" style=\"\" rel=\"noopener\">investments in BESS<\/a> is necessary to maintain grid stability due to the intermittency of renewable energy supply, which relies on external sources such as solar or wind. BESS capacity is expected to reach 8 GWh \u2014 four times the current capacity \u2014 by the year-end, with the Kingdom targeting 48 GWh by 2030.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-renewable-energy-program-nrep\/\">National Renewable Energy Program (NREP)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-electricity-company-sec\/\">Saudi Electricity Company (SEC)<\/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=\"95906 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=\"95906\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/95906\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95906\" class=\"content-area-description single-story post-95906 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\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=\"95907\" 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=\"95907\">\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\">ECOMMERCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/sary-merges-with-bangladeshs-shopup-to-launch-new-b2b-platform-raising-usd-110-mn\/\">\r\n                            Sary merges with Bangladesh\u2019s ShopUp to launch new B2B platform                        <\/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\/04\/10\/sary-merges-with-bangladeshs-shopup-to-launch-new-b2b-platform-raising-usd-110-mn\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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<a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Sary merges with Bangladesh\u2019s ShopUp to launch new B2B platform, raising USD 110 mn&url=https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/sary-merges-with-bangladeshs-shopup-to-launch-new-b2b-platform-raising-usd-110-mn\/\">\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\/04\/10\/sary-merges-with-bangladeshs-shopup-to-launch-new-b2b-platform-raising-usd-110-mn\/&title=Sary merges with Bangladesh\u2019s ShopUp to launch new B2B platform, raising USD 110 mn\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> 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<img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/539.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95908\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/sary-merges-with-bangladeshs-shopup-to-launch-new-b2b-platform-raising-usd-110-mn\/539-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/539.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"539.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/539.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/539.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95907\" class=\"content-area-description single-story post-95907 post type-post status-publish format-standard has-post-thumbnail hentry category-ecommerce tag-ecommerce tag-enterpriseam-ksa tag-sanabil-investments tag-silq-group tag-venture-capital 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\/4\/.54ed2481-78d3-4e6f-b2c4-5ed0e5ea3feb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Sary, ShopUp<\/strong><strong> merge to launch new B2B<\/strong><strong> platform:<\/strong> Homegrown ecommerce platform <a target=\"_blank\" href=\"https:\/\/www.sary.com\/\" style=\"\" rel=\"noopener\">Sary<\/a> and Bangladesh\u2019s <a target=\"_blank\" href=\"https:\/\/www.shopup.org\/\" style=\"\" rel=\"noopener\">ShopUp<\/a> merged to launch the Silq Group, a cross-border B2B platform targeting the Gulf and emerging Asian markets, according to a <a target=\"_blank\" href=\"https:\/\/www.media-outreach.com\/news\/bangladesh\/2025\/04\/09\/373956\/shopup-and-sary-merge-to-create-silq-gulf-emerging-asias-largest-b2b-commerce-platform-secures-usd110m-funding\/\" style=\"\" rel=\"noopener\">press release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who are the investors? <\/strong>The merger is backed by a USD 110 mn funding round led by PIF-backed <a target=\"_blank\" href=\"https:\/\/www.sanabil.com\/en\/\" style=\"\" rel=\"noopener\">Sanabil Investment<\/a> and US-based <a target=\"_blank\" href=\"https:\/\/www.valar.com\/\" style=\"\" rel=\"noopener\">Valar Ventures<\/a>. Investors include <a target=\"_blank\" href=\"https:\/\/flourishventures.com\/\" style=\"\" rel=\"noopener\">Flourish Ventures<\/a>, <a target=\"_blank\" href=\"https:\/\/www.vsqtechnology.com\/\" style=\"\" rel=\"noopener\">VSQ<\/a>, <a target=\"_blank\" href=\"https:\/\/ke.linkedin.com\/company\/msacap\" style=\"\" rel=\"noopener\">MSA Capital<\/a>, <a target=\"_blank\" href=\"https:\/\/rocketship.vc\/news\/\" style=\"\" rel=\"noopener\">Rocketship VC<\/a>, <a target=\"_blank\" href=\"https:\/\/stv.vc\/\" style=\"\" rel=\"noopener\">Saudi Tech Ventures<\/a>, <a target=\"_blank\" href=\"https:\/\/www.wafra.com\/\" style=\"\" rel=\"noopener\">Wafra Investment<\/a>, Peak XV, Prosus, Tiger Global, Endeavor Catalyst, and <a target=\"_blank\" href=\"https:\/\/raed.vc\/\" style=\"\" rel=\"noopener\">Raed Ventures<\/a>, as well as new investor <a target=\"_blank\" href=\"https:\/\/www.qdb.qa\/\" style=\"\" rel=\"noopener\">Qatar Development Bank<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The blueprint:<\/strong> The new entity will combine the infrastructure, logistics, and financial services of ShopUp and Sary under a joint operating model, while each brand continues to serve its local market. The group will also incorporate Silq Financial to offer embedded financial services, POS infrastructure, and cross-border trade enablement across the network.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The leadership:<\/strong> ShopUp\u2019s founder and CEO Afeef Zaman (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/afeefzaman\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) will assume the role of Silq Group\u2019s CEO, while Sary\u2019s founder and CEO Mohammed Aldossary (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mdossary\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) will serve as Silq Financial\u2019s CEO.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking Forward:<\/strong> Silq aims to focus on raising income at the group level while trying to catch some wind from the impact of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3500f41b-393c-4fca-b0db-3bebfe1883ed\/%253cmark%253eus%253c%2Fmark%253e%253cmark%253e-tariffs%253c%2Fmark%253e-on-saudi-arabia-likely-to-have-a-limited-effect,-analysts-say\" style=\"\" rel=\"noopener\">US tariffs<\/a> as exporters seek out alternative markets, Aldossary told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-04-09\/peter-thiel-s-valar-saudi-arabia-s-sanabil-back-b2b-commerce-firm-silq\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The group also plans to set up presence Qatar, broadening its offerings to Qatari SMEs, the press release read.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new IPO in sight: <\/strong>\u201cWe think the Gulf market is very exciting when it comes to IPOs \u2014 especially the Saudi market,\u201d Zaman told the financial publication, pointing to 2027 as a potential year for market debut.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ecommerce\/\">Ecommerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sanabil-investments\/\">Sanabil Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/silq-group\/\">Silq Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/venture-capital\/\">venture capital<\/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=\"95909\" 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=\"95909\">\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\/04\/10\/lucid-closes-usd-1-bn-convertible-bond-sale-via-private-placement\/\">\r\n                            Lucid closes USD 1 bn convertible bond sale via private placement                        <\/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\/04\/10\/lucid-closes-usd-1-bn-convertible-bond-sale-via-private-placement\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The offering was backed by the PIF, Lucid\u2019s largest shareholder.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where will the money go: <\/strong>The Nasdaq-listed firm earmarked USD 935 mn of the total proceeds to repurchase nearly USD 1.05 bn in outstanding convertible bonds originally due next year \u2014 effectively extending their maturity and reducing Lucid\u2019s near-term debt pressure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The cash-strapped automaker exceeded expectations in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bb5feed0-24e7-4db6-9cb9-ffc2f0472950\/diriyah-inaugurates-two-power-transmission-stations-worth-sar-682-mn\" style=\"\" rel=\"noopener\">4Q 2024<\/a> with vehicle deliveries growing 78% y-o-y to 3.1k, and production surging 42% to 3.4k vehicles. Meanwhile, Lucid\u2019s net loss widened 9.3% <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/45addd05-96d8-4b06-8fef-e0c7a2644485\/lucid-remains-in-the-red-in-2023.-plus:-results-from-qassim-cement,-thob-al-aseel\" style=\"\" rel=\"noopener\">y-o-y<\/a> to USD 3.07 mn in 2024, according to its <a target=\"_blank\" href=\"https:\/\/ir.lucidmotors.com\/news-releases\/news-release-details\/lucid-announces-fourth-quarter-and-full-year-2024-financial\" style=\"\" rel=\"noopener\">latest earnings release<\/a>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/lucid\/\">Lucid<\/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=\"95911\" 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=\"95911\">\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\/04\/10\/saudi-looks-to-the-private-sector-as-2034-world-cup-liquidity-crunch-looms\/\">\r\n                            Saudi looks to the private sector as 2034 World Cup liquidity crunch looms                        <\/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\/04\/10\/saudi-looks-to-the-private-sector-as-2034-world-cup-liquidity-crunch-looms\/\" 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\" 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href=\"https:\/\/api.whatsapp.com\/send?text=Saudi+looks+to+the+private+sector+as+2034+World+Cup+liquidity+crunch+looms+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F04%2F10%2Fsaudi-looks-to-the-private-sector-as-2034-world-cup-liquidity-crunch-looms%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\/04\/10\/saudi-looks-to-the-private-sector-as-2034-world-cup-liquidity-crunch-looms\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/537.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95912\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/saudi-looks-to-the-private-sector-as-2034-world-cup-liquidity-crunch-looms\/537-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/537.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"537.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/537.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/537.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95911\" class=\"content-area-description single-story post-95911 post type-post status-publish format-standard has-post-thumbnail hentry category-_newspack_sports tag-2034-world-cup tag-enterpriseam-ksa tag-investment tag-private-sector tag-sports tag-sports-investment-forum-sif 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\/4\/.599272ba-3cb4-4d8b-b7ff-b1870d41dfd0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>The Spor<\/strong><strong>ts Ministry pitched <\/strong><strong>36 potential investments at the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/saudisf.com\/en\/\" style=\"\" rel=\"noopener\">Sports Investment Forum<\/a><\/strong> <strong> (SIF)<\/strong>, including four state-owned sports assets across four major cities and another 32 assets to develop sports club facilities and services, the ministry told <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2025\/04\/08\/article_2759548.html?utm_source=chatgpt.com\" style=\"\" rel=\"noopener\">Aleqitisadiah<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The state-owned assets <\/strong>include a 115.5k sqm plot near Taif\u2019s King Fahd Stadium, a 40k sqm hospitality site at the King Abdulaziz Sports City in Mecca, a 29.3k sqm stretch next to Medina\u2019s airport, and a 15.8k sqm commercial space near Jeddah\u2019s King Abdullah Sports City. The remaining 32 assets are spread across five regions \u2014 six in the central region, five in the west, seven in the east, nine in the north, and five in the south.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Kingdom is looking to unlock private sector investments to shore up investment <\/strong><strong>ahead of the 2034 FIFA World Cup<\/strong>, showcasing available investment and equipping investors with all \u201cavailable information\u201d in a bid to stoke appetite, Director of Sports Investment Development at the Investment Ministry Bassem Ibrahim told Asharq Buisness (<a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financing-and-investment\/77313\/%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%AA%D8%B1%D9%82%D8%A8-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A8%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6%D8%A9-%D8%A7%D8%B3%D8%AA%D8%B9%D8%AF%D8%A7%D8%AF%D8%A7-%D9%84%D9%85%D9%88%D9%86%D8%AF%D9%8A%D8%A7%D9%84-2034\/\" style=\"\" rel=\"noopener\">watch, runtime: 1:36<\/a>).<\/p>\n<p><strong>What is being showcased?<\/strong> Potential investments include everything from sub-SAR 1 mn tech plays to infrastructure projects worth up to SAR 80 mn, leaving room for private developers to build residential zones, hotels, fan areas, and training camps surrounding state-funded facilities, Ibrahim added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some are already buying in:<\/strong> <a target=\"_blank\" href=\"https:\/\/rafeadev.sa\/en\/\" style=\"\" rel=\"noopener\">Rafea Development<\/a> is targeting real estate development investments worth some SAR 1.8 bn (USD 480 mn) over the next two years as it looks to capitalize on a 360% demand spike for sports centers over the past year, CEO Rafi Al Ghamid told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/77202\/%D8%B1%D8%A7%D9%81%D8%B9-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B1%D8%B5%D8%AF-%D9%86%D8%B5%D9%81-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D9%84%D9%85%D8%B4%D8%A7%D8%B1%D9%8A%D8%B9-%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Rafea will set up a dedicated subsidiary dubbed R Sports Dev which will focus on developing sports-related real estate, expecting to raise the share of sports assets to account for 35% of its total portfolio, added Al Ghamdi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT- <\/strong>The sports sector\u2019s market value <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/9bc7f55f-f792-4846-92db-36d207aaf819\/non-oil-private-sector-growth-slightly-slows-in-march#:~:text=DATA%20POINT%2D%20The%20sports%20sector%E2%80%99s%20market%20value%20reached%20SAR%2032%20bn\" style=\"\" rel=\"noopener\">reached SAR 32 bn in 2024<\/a>, adding SAR 5 bn in the last six years while aiming to hit SAR 80 bn by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>SIF saw the launch of the Sikka Sports Investment Company, which aims to <a target=\"_blank\" href=\"https:\/\/x.com\/aawsat_spt\/status\/1909148107817812029\" style=\"\" rel=\"noopener\">invest some<\/a><a target=\"_blank\" href=\"https:\/\/x.com\/aawsat_spt\/status\/1909148107817812029\" style=\"\" rel=\"noopener\">SAR 50 mn<\/a> into local sports projects. Meanwhile, SLC Consultation <a target=\"_blank\" href=\"https:\/\/x.com\/SLCCSA\/status\/1909671810813092128\" style=\"\" rel=\"noopener\">signed an MoU<\/a> with Switzerland-based <a target=\"_blank\" href=\"https:\/\/matchworldgroup.com\/\" style=\"\" rel=\"noopener\">Match World Group<\/a> to cooperate on local sports projects, in addition to an <a target=\"_blank\" href=\"https:\/\/x.com\/SLCCSA\/status\/1909680183973466334\" style=\"\" rel=\"noopener\">investment agreement<\/a> with WAALLI China aimed at developing air domes.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/2034-world-cup\/\">2034 World Cup<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment\/\">Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/private-sector\/\">private sector<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sports-investment-forum-sif\/\">Sports Investment Forum (SIF)<\/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=\"95913\" 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=\"95913\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/fresh-regs-could-see-spacs-listed-on-nomu-for-the-first-time\/\">\r\n                            Fresh regs could see SPACs listed on Nomu for the first time                        <\/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\/04\/10\/fresh-regs-could-see-spacs-listed-on-nomu-for-the-first-time\/\" 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\/04\/10\/fresh-regs-could-see-spacs-listed-on-nomu-for-the-first-time\/')\">\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\/04\/10\/fresh-regs-could-see-spacs-listed-on-nomu-for-the-first-time\/\">\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=Fresh regs could see SPACs listed on Nomu for the first time&url=https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/fresh-regs-could-see-spacs-listed-on-nomu-for-the-first-time\/\">\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\/04\/10\/fresh-regs-could-see-spacs-listed-on-nomu-for-the-first-time\/&title=Fresh regs could see SPACs listed on Nomu for the first time\">\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=Fresh+regs+could+see+SPACs+listed+on+Nomu+for+the+first+time+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F04%2F10%2Ffresh-regs-could-see-spacs-listed-on-nomu-for-the-first-time%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\/04\/10\/fresh-regs-could-see-spacs-listed-on-nomu-for-the-first-time\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2103.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95914\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/fresh-regs-could-see-spacs-listed-on-nomu-for-the-first-time\/2103-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2103.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2103.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2103.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2103.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95913\" class=\"content-area-description single-story post-95913 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-capital-market-authority-cma tag-enterpriseam-ksa tag-legislation-watch tag-ma tag-special-purpose-acquisition-companies-spacs 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\/4\/.4c495279-1fdf-4a17-9344-06c1a9e6a70c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>CMA sets <\/strong><strong>out to bring SPACs to Nomu: <\/strong>Special purpose acquisition companies (SPACs) may soon be allowed to list on Tadawul\u2019s parallel market Nomu under <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/4\/449.pdf\" style=\"\" rel=\"noopener\">a draft regulatory framework (pdf)<\/a> released by the Capital Market Authority (CMA). The proposed bill \u2014 now up for public consultation on <a target=\"_blank\" href=\"https:\/\/istitlaa.ncc.gov.sa\/ar\/Trade\/CMA\/AllowOfferingSPACsOntheParallelMarket\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Istitlaa<\/a> until Thursday, 8 May \u2014 will allow SPACs to be traded publicly as an investment product for the first time in the Kingdom. This comes as part of broader reforms to the domestic capital market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>A SPAC is a type of shell company investors use to acquire firms. SPACS raise money from the public in an IPO and then use the proceeds to merge with or acquire an appropriate company. Check out EnterpriseAM\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6ab3251-641a-4e2c-aa00-6b8486d10c68\" style=\"\" rel=\"noopener\">explainer<\/a> for more on how SPACs work.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In a nutshell:<\/strong> The new regulations set detailed rules on sponsor eligibility, requiring a CMA-licensed investment institution to hold at least 5% and no more than 20% of the SPAC\u2019s capital. The SPAC in question must raise at least SAR 100 mn, adopt a joint-stock structure, and deposit 90% of its post-offering capital in a local escrow account \u2014 accessible only in tightly defined cases like completing a transaction or shareholder redemptions. Investors may redeem shares for banknotes under certain conditions, such as voting against the proposed acquisition. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPACs would have a 24-month window to complete a merger or acquisition<\/strong>, extendable by 12 months with shareholder approval, though the sponsor cannot vote. The sponsor and any managed funds are also barred from holding any stake in the target company, and the transaction must be worth at least 80% of the escrowed capital, with SPAC shareholders retaining no less than 30% post-transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>The move is designed to boost liquidity in Nomu by encouraging private sector companies to go public through SPACs, which is considered easier and faster than traditional IPO. It also opens the door for qualified investors to back acquisitions of unlisted, previously out-of-reach Saudi firms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Catching up with the region:<\/strong> The UAE submitted <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/abu-dhabis-stock-exchange-submits-spac-framework-proposal-statement-2021-11-09\/\" style=\"\" rel=\"noopener\">the region\u2019s first SPAC framework<\/a> in 2021 through the Abu Dhabi Securities Exchange (ADX), allowing more flexibility in cross-border transactions and sponsor ownership. Egypt followed <a target=\"_blank\" href=\"https:\/\/enterprise.press\/stories\/2021\/11\/22\/spac-me-the-regs-are-out-58711\/\" style=\"\" rel=\"noopener\">in late 2021<\/a> with stricter controls, including regulatory pre-approval of target companies.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-market-authority-cma\/\">Capital Market Authority (CMA)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/legislation-watch\/\">LEGISLATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/special-purpose-acquisition-companies-spacs\/\">Special purpose acquisition companies (SPACs)<\/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=\"95915\" 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=\"95915\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/advanced-petrochemical-back-in-the-black-in-1q\/\">\r\n                            Advanced Petrochemical Company back in the black in 1Q                        <\/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\/04\/10\/advanced-petrochemical-back-in-the-black-in-1q\/\" 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\/04\/10\/advanced-petrochemical-back-in-the-black-in-1q\/')\">\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\/04\/10\/advanced-petrochemical-back-in-the-black-in-1q\/\">\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=Advanced Petrochemical back in the black in 1Q&url=https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/advanced-petrochemical-back-in-the-black-in-1q\/\">\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\/04\/10\/advanced-petrochemical-back-in-the-black-in-1q\/&title=Advanced Petrochemical back in the black in 1Q\">\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=Advanced+Petrochemical+back+in+the+black+in+1Q+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F04%2F10%2Fadvanced-petrochemical-back-in-the-black-in-1q%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\/04\/10\/advanced-petrochemical-back-in-the-black-in-1q\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/535.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95916\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/advanced-petrochemical-back-in-the-black-in-1q\/535-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/535.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"535.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/535.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/535.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95915\" class=\"content-area-description single-story post-95915 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-advanced-petrochemical-company tag-earnings-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\/4\/.17013125-df9d-4b65-88f7-2c89aa7e3478.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/advancedpetrochem.com\/\" style=\"\" rel=\"noopener\">Advanced<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/advancedpetrochem.com\/\" style=\"\" rel=\"noopener\">Petrochemical<\/a><\/strong> <strong> swung back into the black with a net income of SAR 72 mn in <\/strong><strong>1Q 2025<\/strong>, compared to a net loss of SAR 58 mn in the same quarter last year, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86388&anCat=1&cs=2330&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The company recorded no losses from its investment in South Korean petrochemical company <a target=\"_blank\" href=\"http:\/\/www.skadvanced.com\/main.html\" style=\"\" rel=\"noopener\">SK Advanced<\/a> during the quarter, thanks to an earlier impairment provision, whereas it logged a SAR 34 mn loss on the investment in 1Q 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong>Revenues were up 91.3% at SAR 614 mn in 1Q 2025, driven by an 88% increase in sales volume.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis: <\/strong>The company narrowed its net losses from SAR 288 mn in 4Q 2024, while revenues grew 6%, up from SAR 579 mn in the previous quarter.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/advanced-petrochemical-company\/\">Advanced Petrochemical Company<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"95917\" 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=\"95917\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/jabal-omar-names-saleh-alhabdan-as-ceo\/\">\r\n                            Jabal Omar names Saleh Alhabdan as CEO                        <\/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\/04\/10\/jabal-omar-names-saleh-alhabdan-as-ceo\/\" 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\/04\/10\/jabal-omar-names-saleh-alhabdan-as-ceo\/')\">\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\/04\/10\/jabal-omar-names-saleh-alhabdan-as-ceo\/\">\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=Jabal Omar names Saleh Alhabdan as CEO&url=https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/jabal-omar-names-saleh-alhabdan-as-ceo\/\">\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\/04\/10\/jabal-omar-names-saleh-alhabdan-as-ceo\/&title=Jabal Omar names Saleh Alhabdan as CEO\">\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=Jabal+Omar+names+Saleh+Alhabdan+as+CEO+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F04%2F10%2Fjabal-omar-names-saleh-alhabdan-as-ceo%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\/04\/10\/jabal-omar-names-saleh-alhabdan-as-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1775.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95918\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/jabal-omar-names-saleh-alhabdan-as-ceo\/1775-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1775.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1775.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1775.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1775.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95917\" class=\"content-area-description single-story post-95917 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-ksa tag-jabal-omar tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.90a1e8c4-3485-4a10-acc3-9c61213ecc66.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/jabalomar.com.sa\/\" style=\"\" rel=\"noopener\">Jabal Om<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/jabalomar.com.sa\/\" style=\"\" rel=\"noopener\">ar<\/a><\/strong> <strong> appointed S<\/strong><strong>aleh Alhabdan (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/saleh-alhabdan-2bb84741\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) as its new CEO<\/strong>, succeeding Abdulrahman Bajunaid (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/abdulrahman-bajunaid-4953a311\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86374&anCat=1&cs=4250&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Alhabdan \u2014 whose appointment is effective 4 May \u2014 previously served as CEO at Taiba Investments, <a target=\"_blank\" href=\"http:\/\/www.cerconsa.com\/\" style=\"\" rel=\"noopener\">Cercon General Contractors<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.sahab.sa\/\" style=\"\" rel=\"noopener\">Sahab Engineering Consultancy<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/jabal-omar\/\">Jabal Omar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"95919\" 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=\"95919\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/tariff-triggered-oil-slump-could-deepen-saudi-budget-strain\/\">\r\n                            Tariff-triggered oil slump could deepen Saudi budget strain                        <\/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\/04\/10\/tariff-triggered-oil-slump-could-deepen-saudi-budget-strain\/\" 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\/04\/10\/tariff-triggered-oil-slump-could-deepen-saudi-budget-strain\/')\">\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\/04\/10\/tariff-triggered-oil-slump-could-deepen-saudi-budget-strain\/\">\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=Tariff-triggered oil slump could deepen Saudi budget strain&url=https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/tariff-triggered-oil-slump-could-deepen-saudi-budget-strain\/\">\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\/04\/10\/tariff-triggered-oil-slump-could-deepen-saudi-budget-strain\/&title=Tariff-triggered oil slump could deepen Saudi budget strain\">\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=Tariff-triggered+oil+slump+could+deepen+Saudi+budget+strain+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F04%2F10%2Ftariff-triggered-oil-slump-could-deepen-saudi-budget-strain%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\/04\/10\/tariff-triggered-oil-slump-could-deepen-saudi-budget-strain\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1011.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95920\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/tariff-triggered-oil-slump-could-deepen-saudi-budget-strain\/1011-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1011.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1011.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1011.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1011.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95919\" class=\"content-area-description single-story post-95919 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-aramco tag-donald-trump tag-economy tag-enterpriseam-ksa tag-oil tag-opec tag-saudi-in-the-news tag-tariff tag-vision-2030 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\/4\/.b5de8114-0b1a-40cf-bbef-ef5df46d710a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>With a no<\/strong><strong>sedive in oil prices, the<\/strong><strong> international press is buzzing with the ripple effects on <\/strong><strong>Saudi Arabia\u2019s economic agenda. <\/strong>Reuters took note of Brent crude <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/how-oil-price-plunge-complicates-saudi-arabias-economic-agenda-2025-04-08\/\" style=\"\" rel=\"noopener\">nearing a four-year low<\/a> of around USD 64 per barrel over the past week, which is well below the USD 90 level the IMF estimates is needed to balance the Kingdom\u2019s budget with Vision 2030 spending and the 2034 FIFA World Cup.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The newswire put forth pundits\u2019 reckoning of either deeper spending cuts or a rampant <\/strong><strong>debt issuance<\/strong> as falling revenues and <a target=\"_blank\" rel=\"noopener\">slashed Aramco dividends<\/a> tighten fiscal space. Chatham House associate fellow Neil Quilliam expects Vision 2030 projects to undergo reprioritization, rationalization, and workforce reductions, while Columbia University\u2019s Karen Young anticipates the Kingdom will increasingly rely on debt financing, with planned contracting awards delayed or scaled back.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the geopolitical front<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2025-04-07\/trump-tariffs-crude-oil-slump-add-to-saudi-arabia-s-challenges-uae-stocks-drop\" style=\"\" rel=\"noopener\">Bloomberg<\/a> alluded to the increasing hurdles facing the Kingdom\u2019s goal of securing USD 600 bn in trade and investment with the US, as well as answering Trump\u2019s call to raise the figure to USD 1 tn further.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bloomberg reported dim prospects from Goldman Sachs<\/strong>, where the bank flagged Brent could <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-04-08\/goldman-says-oil-could-sink-below-40-under-extreme-conditions\" style=\"\" rel=\"noopener\">dip below USD 40 per barrel<\/a> by late 2026 in a worst-case scenario involving a global recession and a full unwinding of Opec+ supply cuts. Goldman\u2019s base case sees Brent at USD 58 by December and USD 50 by 2026-end, still far below the Kingdom\u2019s sweet spot.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/donald-trump\/\">Donald Trump<\/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\/oil\/\">Oil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/opec\/\">OPEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tariff\/\">Tariff<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/vision-2030\/\">Vision 2030<\/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=\"95921\" 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=\"95921\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/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\/04\/10\/ades-holding-bags-an-extension-for-its-egypt-rig-business\/\">\r\n                            Ades Holding bags an extension for its Egypt rig business                        <\/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\/04\/10\/ades-holding-bags-an-extension-for-its-egypt-rig-business\/\" 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\/04\/10\/ades-holding-bags-an-extension-for-its-egypt-rig-business\/')\">\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\/04\/10\/ades-holding-bags-an-extension-for-its-egypt-rig-business\/\">\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=Ades Holding bags an extension for its Egypt rig business&url=https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/ades-holding-bags-an-extension-for-its-egypt-rig-business\/\">\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\/04\/10\/ades-holding-bags-an-extension-for-its-egypt-rig-business\/&title=Ades Holding bags an extension for its Egypt rig business\">\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=Ades+Holding+bags+an+extension+for+its+Egypt+rig+business+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F04%2F10%2Fades-holding-bags-an-extension-for-its-egypt-rig-business%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\/04\/10\/ades-holding-bags-an-extension-for-its-egypt-rig-business\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1082.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95922\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/ades-holding-bags-an-extension-for-its-egypt-rig-business\/1082-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1082.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1082.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1082.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1082.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95921\" class=\"content-area-description single-story post-95921 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-accesso-technology-group tag-ades-holding tag-also-on-our-radar tag-aramco tag-chemanol tag-enterpriseam-ksa tag-startup-watch tag-stuck 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\/4\/.9fda6c02-bd6a-4e2a-b6f5-7378f49fe051.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\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Ades Holding s<\/strong><strong>ecures extension for its rig operations in Egypt:<\/strong> Tadawul-listed energy player Ades Holding secured an extension for three of its offshore jack-up rigs operating in Egypt \u2014 contracted from the General Petroleum Company (GPC) \u2014 according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/4\/433.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The total backlog value for the resumption is estimated at nearly SAR 673.5 mn (USD 179.6 mn). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The contracts for two of the three rigs \u2014 Admarine three and Admarine six \u2014 were extended for one year, slated to commence between 2025 and 2026, with an option to extend for an additional year. The third jack-up rig \u2014 Admarine five \u2014 saw its contract extended for a firm three years, effective immediately, with an option to extend for an additional year as well.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ades is on a roll:<\/strong> Ades Holding <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3918cc68-9125-41ea-8bef-9b0c6e7edcfb\/ades-holding-secures-10-year-renewal-contract-for-offshore-drilling\" style=\"\" rel=\"noopener\">snapped up a 10-year renewal contract<\/a> for one of its key standard offshore jack-up rigs from an undisclosed major national oil company earlier this week. The rig was among six units operating in the Kingdom that were previously suspended. Ades Holding is yet to confirm the rig commencement date; as of now, the jack-up rig is completing a medium-term contract in Egypt.<\/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\">ENTERTAINMENT-<\/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.accesso.com\/\" style=\"\" rel=\"noopener\">Accesso Techn<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.accesso.com\/\" style=\"\" rel=\"noopener\">ology Group<\/a><\/strong> <strong> was selected as the guest experience technology provider <\/strong><strong>for the Qiddiya gigaproject<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.accesso.com\/news\/qiddiya-city-saudi-arabias-premier-entertainment-sports-and-culture-destination-elevates-guest-experience-with-accesso-horizon\" style=\"\" rel=\"noopener\">press release<\/a>. Accesso\u2019s Horizon platform will be deployed across Qiddiya\u2019s attractions \u2014 starting with Six Flags Qiddiya and Aquarabia \u2014 serving as a unified system for ticketing and visitor management, with integration capabilities for partner technologies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Six Flags Qiddiya City and Aquarabia Water Theme Park are slated to open in late 2025 under the management of the US-based Six Flags Entertainment, which signed an agreement with Qiddya Investment <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/697ee648-3cdb-417f-97c8-5c1ffb260b51\/va-tech-wabag-secures-usd-371-mn-epc-contract-for-al-haer-sewage-treatment-plant\" style=\"\" rel=\"noopener\">in February<\/a> to oversee operations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chemanol is inve<\/strong><strong>stigating two previous acquisitions<\/strong>: Tadawual-listed Methanol Chemicals\u2019 (Chemanol) enlisted an advisor to investigate the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/dd1780e7-4ef0-4c17-a1ef-bc52c866e091\/earnings-continue-to-pour-in\" style=\"\" rel=\"noopener\">2024<\/a> acquisitions of Dar Chemicals and the International Chemical Industries worth a combined SAR 124 mn, it said <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86379&anCat=1&cs=2001&locale=en\" style=\"\" rel=\"noopener\">in a disclosure to Tadawul.<\/a> No further information was provided. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Chemnol saw its net losses <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/dd1780e7-4ef0-4c17-a1ef-bc52c866e091\/earnings-continue-to-pour-in\" style=\"\" rel=\"noopener\">widen<\/a> 53.1% y-o-y to SAR 272.3 mn in 2024 due to rising feedstock costs and a decline in the selling prices of its major products.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/accesso-technology-group\/\">Accesso Technology Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ades-holding\/\">Ades Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/chemanol\/\">Chemanol<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/stuck\/\">Stuck<\/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=\"95923\" 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=\"95923\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/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\/04\/10\/cfo-turnover-remains-high-in-2024-as-the-role-expands-beyond-traditional-finance\/\">\r\n                            CFO turnover remains high in 2024 as the role expands beyond traditional finance                        <\/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\/04\/10\/cfo-turnover-remains-high-in-2024-as-the-role-expands-beyond-traditional-finance\/\" 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\/04\/10\/cfo-turnover-remains-high-in-2024-as-the-role-expands-beyond-traditional-finance\/')\">\n                    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              <\/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\/04\/10\/cfo-turnover-remains-high-in-2024-as-the-role-expands-beyond-traditional-finance\/&title=CFO turnover remains high in 2024 as the role expands beyond traditional finance\">\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=CFO+turnover+remains+high+in+2024+as+the+role+expands+beyond+traditional+finance+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F04%2F10%2Fcfo-turnover-remains-high-in-2024-as-the-role-expands-beyond-traditional-finance%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\/04\/10\/cfo-turnover-remains-high-in-2024-as-the-role-expands-beyond-traditional-finance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95923\" class=\"content-area-description single-story post-95923 post type-post status-publish format-standard hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets 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\/4\/.9f60907d-0437-4e57-a045-aa536fc7371f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">!_ImageURLWeb_! https:\/\/ent.news\/2025\/4\/510.jpg<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.russellreynolds.com\/en\/insights\/reports-surveys\/global-cfo-turnover-index\" style=\"\" rel=\"noopener\">G<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.russellreynolds.com\/en\/insights\/reports-surveys\/global-cfo-turnover-index\" style=\"\" rel=\"noopener\">lobal<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.russellreynolds.com\/en\/insights\/reports-surveys\/global-cfo-turnover-index\" style=\"\" rel=\"noopener\">CFO Turnover Index<\/a><\/strong><strong> shed one percentage point y-o-y to close 2024 at 15.1% <\/strong>\u2014 its second-highest level on record, advisory firm Russell Reynolds Associates (RRA) said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/4\/465.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Some 54% of outgoing CFOs retired or took board positions, while another 34% took on presidencies or CEO roles.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> The <a target=\"_blank\" href=\"https:\/\/www.russellreynolds.com\/en\/insights\/reports-surveys\/global-cfo-turnover-index\/sp-500-by-the-numbers\" style=\"\" rel=\"noopener\">S&P 500<\/a> turnover spiked to a six-year high at 17.8% with 89 new CFOs, driven by a churn in the tech and industrial sectors. Meanwhile, the <a target=\"_blank\" href=\"https:\/\/www.russellreynolds.com\/en\/insights\/reports-surveys\/global-cfo-turnover-index\/ftse-100-by-the-numbers\" style=\"\" rel=\"noopener\">FTSE 250<\/a> saw the appointment of 25 new CFOs in 2024, dipping by four percentage points y-o-y to 25%, from a record high of 29% in the previous year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe changing nature of the CFO role\u201d is the main reason behind the <\/strong><strong>high CFO turnover, <\/strong>RRA argues. The role seems to have expanded well beyond traditional finance and become more complex as CFOs are now expected to deploy AI to increase efficiency, possess a strong understanding of geopolitics, and mediate between boards and investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CFOs are also taking over tasks traditionally reserved for COOs<\/strong>, RRA Co-Lead Global Financial Officers Practice Jenna Fisher said. \u201cThe CFO has become the de facto COO with more direct reports \u2013 whether it\u2019s real estate, facilities, IT or legal \u2013 and so the role has become more complex.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shifting landscape: <\/strong>The average CFO tenure dropped to 5.8 years in 2024, pulling the average transition\/retirement age down to 56.6 years old. A record 70 women were tapped for the role \u2014 double the number seen in 2023. Meanwhile, some 60% of new CFOs were first-timers, signalling a trend to rely on younger talents.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Boards are also doubling down on internal talent<\/strong>, which represented 54% of incoming CFOs in 2024. The reason? Internally promoted CFOs tend to stay longer in a company, with an average tenure of 6.5 years, compared to 5.9 years for external hires, according to RRA.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our neck of the woods is more demanding: <\/strong>\u201cLocal market experience is becoming increasingly critical for CFOs in the Middle East. Companies are prioritizing candidates who understand the regional legal framework, regulatory landscape, and unique market dynamics,\u201d RRA Head of Financial Services and Financial Officers Practice Burak Gorbon added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the index:<\/strong> The Global CFO Turnover Index provides insights on global CFO departures and appointments in publicly traded companies on a quarterly and yearly basis, analyzing trends regarding gender, tenure, and internal\/external hires.<\/p>\n<p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are strongly in the green<\/strong> after Trump paused most of his tariffs, with Japan\u2019s Nikkei up 8.4%, Hong Kong\u2019s Hang Seng up almost 4%, and Shanghai Composite slightly up at 1.6%. Wall Street futures are indicating an expectedly lower opening after yesterday\u2019s record 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\">11,097<\/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\">-1.8% (YTD: -7.8%)<\/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\">1,409<\/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\">-1.6% (YTD: -6.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">28,370<\/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: -9.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.0% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,080<\/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\">-1.9% (YTD: +1.1%)<\/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>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\">9,066<\/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: -3.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,893<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: -5.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,457<\/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\">+9.5% (YTD: -7.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,679<\/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\">-2.9% (YTD: -6.0%)<\/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>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,622<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.2% (YTD: -5.6%)<\/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>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 65.48<\/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\">+4.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/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 3.74<\/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\">-2.1%<\/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>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 3079.4<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+3.0%<\/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 83,317.40<\/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\">+8.6% (YTD: -11.1%)<\/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 1.8% <strong>yesterday <\/strong>on turnover of SAR 6.8 bn. The index is down 7.8% 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> Raoom (+3.6%), AlRajhi Takaful (+2.9%) and SPM (+2.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Albilad (-6.4%), Sadr (-6.1%) and Kingdom (-5.9%).<\/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> fell 0.4% <strong>yesterday <\/strong>on turnover of SAR 25.5 mn. The index is down 9.9% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Balady (+13.8%), Tam Development (+8.6%) and Balsm Medical (+8.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Knowledgenet (-11.0%), Naas Petrol (-9.1%) and Mulkia (-8.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Etihad C<\/strong><strong>ooperative Ins.<\/strong><strong>\u2019s BoD recommended a SAR 30 mn dividend distribution for FY <\/strong><strong>2024<\/strong> at SAR 0.6 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=86380&anCat=1&cs=8170&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The distribution date is yet to be announced.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arab Natio<\/strong><strong>nal Bank\u2019s board approved a share buyback of up to 10 mn shares<\/strong><strong> for the <\/strong><strong>Employee Share Program<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86375&anCat=1&cs=1080&locale=en\" style=\"\" rel=\"noopener\">disclosure to<\/a><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86375&anCat=1&cs=1080&locale=en\" style=\"\" rel=\"noopener\">Tadawul<\/a>. The repurchase will be financed through internal resources and is set to wrap up within 18 months.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"95924\" 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\/04\/10\/95924\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95924\" class=\"content-area-description single-story post-95924 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;\">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>10 April (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.tesla.com\/en_sa\/event\/tesla-kingdom-of-saudi-arabia\" style=\"\">Tesla launch event<\/a><\/span><span style=\"font-weight:400;\">, Bujairi Terrace, 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 style=\"font-weight:400;\">14-15 April (Monday-Tuesday): MESH Core Riyadh Conference for Innovation in Healthcare, 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>14-16 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/umrah-ziyarah.com\/#prId=334725\" style=\"\">Umrah and Ziyarah Forum<\/a><\/span><span style=\"font-weight:400;\">, King Salman International Convention Center, Madinah.<\/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.mep-expo.com\/\" style=\"\">2025 Middle East Poultry Expo<\/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: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>25 April- 3 May (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.the-afc.com\/en\/club\/afc_champions_league_elite.html\/news\/stage-set-for-aclelite-finals-jeddah-2025\" style=\"\">AFC Champions League Elite Finals<\/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>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:400;\">29 April (Tuesday): Deadline to submit feedback on proposed amendments to the rules for special purpose entities (SPEs). <\/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>3 May (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dazn.com\/en-US\/news\/boxing\/canelo-alvarez-vs-william-scull-fight-time-ringwalks-running-order-streaming-watch\/e9f34ppx1yzc1e2hw18lzsdgg\" style=\"\">Canelo Alvarez vs William Scull<\/a><\/span><span style=\"font-weight:400;\">, Anb arena, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 May (Monday): Opec+ 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;\">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>9 May (Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/pflmena.com\/\" style=\"\">PFL Mena<\/a><\/span><span style=\"font-weight:400;\"> Season 2 Kick-off<\/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\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>Phase two of battery storage project underway | Sary + ShopUp | Lucid secures USD 1 bn in convertible bonds | Fresh regs for SPACs<\/p>\n","protected":false},"featured_media":95898,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-95897","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"6034dcda-b7df-4020-87ae-a48b273d3ad6","teaser":"Phase two of battery storage project underway | Sary + ShopUp | Lucid secures USD 1 bn in convertible bonds | Fresh regs for SPACs","photo_url":"https:\/\/ent.news\/2024\/9\/489.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>Aramco, Sinopec move ahead with Yasref petrochemical expansion + Oil &amp; gas fields discovered in Eastern Province, Empty Quarter - 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