{"id":96301,"date":"2025-04-23T00:00:00","date_gmt":"2025-04-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=96301"},"modified":"2025-12-14T20:49:52","modified_gmt":"2025-12-14T20:49:52","slug":"imf-slashes-our-growth-prospects-as-tariffs-weigh-down-on-global-outlook","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/imf-slashes-our-growth-prospects-as-tariffs-weigh-down-on-global-outlook\/","title":{"rendered":"IMF slashes our growth prospects as tariffs weigh down on global outlook"},"content":{"rendered":"<section id=\"96303\" 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=\"96303\">\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\/23\/neom-to-confirm-aiman-al-mudaifer-as-ceo\/\">\r\n                            THIS MORNING: Neom to confirm Aiman Al Mudaifer 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\/23\/neom-to-confirm-aiman-al-mudaifer-as-ceo\/\" target=\"_blank\">\n                    Open in new 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data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/neom-to-confirm-aiman-al-mudaifer-as-ceo\/1482-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1482.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1482.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1482.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1482.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-96303\" class=\"content-area-description single-story post-96303 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam-ksa tag-neom tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.e5c10911-703c-4621-890c-c3f21d09a789.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning. <\/strong><strong>It\u2019s day three of the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/meetings.imf.org\/\" style=\"\" rel=\"noopener\">IMF and World Bank\u2019s spring meetup<\/a><\/strong> and the event has been making waves in the international business press with the release of the Fund\u2019s much anticipated World Economic Outlook report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leading the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d47218f0-6612-41bc-9137-25f19a3d2c4a\" style=\"\" rel=\"noopener\">headlines<\/a><\/strong><strong> are its warnings of a \u201csignificant slowdown\u201d in the global economy<\/strong> with a half a percentage point downgrade of the Fund\u2019s global growth projections on the back of tariff uncertainty and disruption.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We\u2019ve picked apart the report\u2019s forecasts for Saudi Arabia in the news well below<\/strong> \u2014 and if that isn\u2019t enough for you, we\u2019ve also got a rundown of its outlook on the global economy in today\u2019s Planet Finance section.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi delegation: <\/strong>Our Finance Minster Mohammed Al Jadaan and Sama Governor Ayman Al Sayari are <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2303112\" style=\"\" rel=\"noopener\">to join the G-20 finance meetings<\/a>. The Saudi delegation also includes officials from the Saudi Fund for Development, the National Debt Management Center, and the Zakat, Tax, and Customs Authority. <strong>You can check out the full schedule on the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/spring\/schedule\" style=\"\" rel=\"noopener\">event\u2019s<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/spring\/schedule\" style=\"\" rel=\"noopener\">official<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/spring\/schedule\" style=\"\" rel=\"noopener\">website<\/a><\/strong><strong>.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT FIRST- Would you like to have lunch with us on Monday, 5 May? <\/strong>If so, hit reply to this email to let us know you\u2019re like to be considered and tell us a little bit about yourself and what you do as a professional. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wait, lunch? <\/strong>Yes, lunch. We\u2019re inviting a small group of readers to join us to talk over where the economy and business climate stand now and where they\u2019re heading through 2030. Expect good food, good company, and frank talk about what we are convinced is the most exciting business opportunity in the world. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Seating is strictly limited and the gathering is invitation-only. <\/strong>The gathering will take place under Chatham House rules. We\u2019ll be in touch over the course of the next week with the folks we\u2019re inviting to drop them the details. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1219.gif?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Winds will sweep through Riyadh and Madinah, while Makkah remains cloudy. <\/p>\n<ul>\n<li>Riyadh: 38\u00b0C daytime \/ 26\u00b0C overnight <\/li>\n<li>Makkah: 41\u00b0C daytime \/ 28\u00b0C overnight <\/li>\n<li>Madinah: 41\u00b0C daytime \/ 28\u00b0C overnight <\/li>\n<\/ul>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a> S<\/strong><strong>audi Arabia is set to confirm Aiman Al Mudaifer as the new CEO of Neom<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/saudi-arabias-neom-appoint-aiman-al-mudaifer-permanent-ceo-sources-say-2025-04-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported, citing two sources it said are in the know. Mudaifer has been serving as acting CEO since November, following the departure of Nadhmi Al Nasr, and is expected to take the role officially in the coming weeks. He previously led the PIF\u2019s local real estate and infrastructure investments and has been closely involved in Neom\u2019s development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>His appointment signals tighter oversight by the Public Investment Fund<\/strong>, which is under pressure to manage spending more carefully. Analysts say tighter oversight is needed to ensure Neom\u2019s plans stay on track as the kingdom grapples with falling oil prices and pressure to prioritize spending.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> Coffee chain Half Million and biscuit-maker Deemah are among the latest Saudi firms to <\/strong><strong>sound out banks for an IPO on Tadawul<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-04-22\/saudi-coffee-chain-restaurant-ipos-face-consumer-strength-test\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people it says are familiar with the matter. This comes amid a broader wave of F&B players looking to hit the market \u2014 including <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/623ca7e1-fe6c-48e8-8a81-107745d9679a\/coffee-chain%253cmark%253e-barns%253c%2Fmark%253e-gears-up-for-listing-%2B-eu-mulls-exempting-saudis-from-short-stay-visas\" style=\"\" rel=\"noopener\">Barns<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/07c7ea0f-1794-453b-a99c-192b1f536915\/it%25e2%2580%2599s-inflation-day\" style=\"\" rel=\"noopener\">Hashi Basha<\/a> \u2014 as the Kingdom\u2019s push to diversify consumer spending away from oil gains traction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rush to list follows a sharp rise in discretionary spending<\/strong>, as the domestic entertainment and dining sectors expand, the business news service reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT-<\/strong> <strong>The IPO window may not be as forgiving as before:<\/strong> Pundits point to pressure on consumer incomes and persistent low oil prices as potential headwinds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Social Development Bank (SDB) plans to double the number of <\/strong><strong>entrepreneurs it supports to c. 10k<\/strong> and open four new branches by the end of next year to support its expansion, CEO Sultan Al Hamidi told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financing-and-investment\/79427\/%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9-%D8%A7%D9%84%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9%D9%8A%D8%A9-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D9%8A%D8%AE%D8%B7%D8%B7-%D9%84%D9%85%D8%B6%D8%A7%D8%B9%D9%81%D8%A9-%D8%AF%D8%B9%D9%85-%D8%B1%D9%88%D8%A7%D8%AF-%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The expansion will enable the bank to increase SME finance while repositioning branches to act as business incubators, accelerators, and co-working spaces to provide clients with financing, training, and business development support, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>SDB handed out SAR 1.7 bn in loans during <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c0fa5b7d-e56a-4950-a07a-d8ad1456d854\/teslas-will-be-available-for-sale-in-saudi-arabia-next-month\" style=\"\" rel=\"noopener\">1Q 2025<\/a>. A total of 1.8k small and large businesses took facilities worth SAR 505 mn, while the remaining SAR 1.2 bn went to support some 20k entrepreneurs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Kingdo<\/strong><strong>m is set to maintain its lead in the global Islamic finance market this <\/strong><strong>year<\/strong>, with projects tied to the government\u2019s wide-reaching diversification plans expected to generate sustained demand for shariah-compliant financing, according to an <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/ratings\/en\/research\/articles\/250417-islamic-finance-2025-2026-resilient-growth-amid-upcoming-headwinds-13453768#:~:text=S%26P%20Global%20Ratings%20expects%20this,%2470%20per%20barrel%20from%202026\" style=\"\" rel=\"noopener\">S&P Global report<\/a>. The rating agency\u2019s bullish outlook depends largely on the Kingdom\u2019s ability to refinance at scale, especially through the international sukuk markets. Residential mortgage-backed securities could also give the domestic sukuk market a boost, S&P added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The global rating agency revised its oil price assumption downward to USD 65 a barrel for the rest of 2025 \u2014 a level that still supports growth but adds pressure to fiscal buffers across the GCC. The global Islamic finance market is on track to grow by 9-10%, with global sukuk issuances forecast to hit <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/2573ce6e-af6e-4256-acf6-632b6fcc78ce\/sukuk-market-is-set-to-maintain-its-momentum-this-year\" style=\"\" rel=\"noopener\">USD 190-200 bn<\/a> this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> #1- <\/strong><strong>Consumer spending <\/strong><strong>via point-of-sale (PoS) transactions in the Kingdom dropped 6.9% <\/strong><strong>w<\/strong><strong>-o-w in the week ending Saturday, 19 Apri<\/strong>l to c. SAR 11.4 bn, according to the <a target=\"_blank\" href=\"https:\/\/www.sama.gov.sa\/en-US\/Indices\/POS_EN\/POS_Report_20_Apr_2025.pdf\" style=\"\" rel=\"noopener\">Saudi Central Bank\u2019s report (pdf)<\/a>. The number of weekly transactions also fell by 3.4% w-o-w to 202 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Restaurants and cafes made up the biggest chunk of spending in terms of value during the week, however, they dipped 4.6 w-o-w to some SAR 1.7 bn. The figure nearly matched food and beverage, which dropped by 9.3% w-o-w. PoS transactions on education posted the steepest dip with a 35.2 decline w-o-w to SAR 166.4 mn after jumping 2413% w-o-w to SAR 256.9 mn in the previous week as students returned back to schools after Eid El Fitr holiday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh once again had the highest value of PoS transactions at SAR 4.1 bn<\/strong>, followed by Jeddah at SAR 1.7 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>The Saud<\/strong><strong>i Export-Import Bank\u2019s lending more than doubled in 2024<\/strong>, rising 103.2% y-o-y to SAR 33.5 bn from SAR 16.5 bn amid its efforts to support non-oil exports growth in the Kingdom, it said in a post on <a target=\"_blank\" href=\"https:\/\/x.com\/SaudiEXIM\/status\/1914636601877024810\" style=\"\" rel=\"noopener\">X<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bank's credit facilities that were allocated to non-oil exports rose 70% y-o-y to <\/strong><strong>SAR 11.96 <\/strong><strong>bn in 2024<\/strong>, with around 7.66% of the bank\u2019s total credit facilities distributed between financing and providing ins. to Saudi non-oil products exports, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2303651\" style=\"\" rel=\"noopener\">SPA<\/a> reports. The total value of exports covered by credit ins. also rose 127% y-o-y over the same period to SAR 21.6 bn, up from SAR 9.5 bn.<\/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>The general theme in the news today? Backtracking <\/strong>\u2014 whether it\u2019s US President Donald Trump denying plans to sack US Federal Reserve Chair Jerome Powell (and hinting at lower tariffs on China), Elon Musk saying he\u2019ll take a step back from the US government to focus on Tesla, or Russian President Vladimir Putin saying he is prepared to halt his invasion of certain parts of Ukraine. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US stock futures reacted positively to Trump\u2019s shift in tone<\/strong><strong> on both Powell and China<\/strong>, rallying on the news as the USD also pared some of its losses following an earlier slump on Monday. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/trump-no-plans-fire-fed-chair-powell-wants-lower-rates-2025-04-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/98174536-161e-48ef-ae4a-8c1025878523\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/video\/trump-says-he-has-no-intention-of-firing-fed-chair-powell\/81ED36C0-E26E-47E6-89D7-BDD7E4F9EE90\" style=\"\" rel=\"noopener\">WSJ<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also rallying yesterday were Tesla\u2019s shares<\/strong>, after Musk said he\u2019ll be \u201csignificantly scaling back\u201d his work with the government as he wraps up preparations for the Department of Government Efficiency (aka DOGE) to focus on Tesla, which reported a 9% y-o-y drop in revenues in its <a target=\"_blank\" href=\"https:\/\/ir.tesla.com\/press-release\/tesla-first-quarter-2025-production-deliveries-and-deployments\" style=\"\" rel=\"noopener\">1Q 2025 earnings report<\/a>. Net income also plummeted 71% from a year earlier on the back of lower average selling prices and a need for manufacturing upgrades, according to Musk. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/5128df45-8595-41e5-84f1-695adba053a7\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/autos\/tesla-tsla-q1-earnings-report-2025-f7120a39?mod=hp_lead_pos7\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-04-22\/tesla-signals-caution-says-it-will-revisit-2025-growth-outlook?srnd=homepage-middle-east&embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/tesla-earnings-call-quarterly-results-musks-forecasts-analyst-reactions-2025-04-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/autos\/tesla-tsla-q1-earnings-report-2025-f7120a39\" style=\"\" rel=\"noopener\">WSJ<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over in Russia and Ukraine, Putin reportedly said he\u2019d be willing to give up parts <\/strong><strong>of Ukraine that it does not control in return for an agreement with the US <\/strong>that could see it acknowledge Russia\u2019s de facto control over Crimea, which was seized by Russia in 2014. Ukrainian officials are set to meet with representatives from the EU and the US in London later today to discuss the proposal. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/5d848403-4a15-4592-888b-eb7b754ecb3a\" style=\"\" rel=\"noopener\">FT<\/a>) <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/neom\/\">NEOM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"96305\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/108985.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>The Luxury of Certainty<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"96306\" 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=\"96306\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/imf-slashes-the-kingdoms-growth-prospects\/\">\r\n                            IMF slashes the Kingdom\u2019s growth prospects                        <\/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\/23\/imf-slashes-the-kingdoms-growth-prospects\/\" 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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Growth is expected to accelerate to 3.4% in 2026, albeit down from previous forecasts at 4.1%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Slower oil production recovery could be the culprit: <\/strong>The fund observed \u201ca more gradual resumption of oil production\u201d than previously predicted, coupled with \u201cpersistent spillovers from conflicts, and slower-than-expected progress on structural reforms,\u201d which the fund cites as its reasons for lowering its growth forecast for the Middle East and Central Asia at large.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> GDP grew <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/35ff656f-e516-4482-b4a9-bd4c2629eb38\/real%253cmark%253e-gdp%253c%2Fmark%253e-grows-1.3%2525-y-o-y-in-2024\" style=\"\" rel=\"noopener\">1.3% y-o-y in 2024<\/a>, exceeding the government\u2019s 0.8% forecast, while 4Q growth hit 4.5% y-o-y GDP, the fastest in two years, supported by oil and non-oil activity. The Finance Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e65fed3e-05eb-40aa-92f4-ff2c2204bfec\/\" style=\"\" rel=\"noopener\">expected GDP growth of 4.6%<\/a> in 2025, 3.5% in 2026, and 4.7% in 2027, fueled by non-oil expansion, job creation, and foreign investment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflation forecasts inched higher:<\/strong> Inflation in Saudi Arabia is set to come in at 2% both in 2025 and in 2026, up from 1.7% in 2024, the report reads. The prediction for this year marks a a slight upwards revision of 0.1 percentage point from the fund\u2019s previous forecast in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2661e741-caa7-4415-ab9d-47944a4e8e64\/real-gdp-growth-to-hit-1.5%2525-this-year--%253cmark%253eimf%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">December<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Saudi Arabia\u2019s current account balance is expected to see a deficit of 4% <\/strong><strong>of GD<\/strong><strong>P this year,<\/strong> before reaching 4.3% of GDP in 2026, down from a deficit of 0.5% in 2024. This prediction is lower than the fund\u2019s previous forecast, which saw the current account balance narrowing to -1.8% of GDP in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil prices to see a dramatic drop:<\/strong> The fund expects oil prices to decrease by 15.5% in 2025, bringing the average price per barrel to around USD 66.94. The decline in prices is expected to continue through to 2026 \u2014 albeit at a slower pace, with the fund predicting oil prices to drop to USD 62.38 per barrel, down from an average price of USD 79.17 per barrel in 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The drop in oil prices could hit the Kingdom\u2019s budget quite hard:<\/strong> Saudi Arabia\u2019s budget deficit could <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3acca6c7-d64b-46dd-813b-4719c7f76cb0\/%253cmark%253eoil%253c%2Fmark%253e-decline-may-lead-to-biggest-deficit-since-2020--goldman-sachs\" style=\"\" rel=\"noopener\">widen<\/a> to USD 67 bn (SAR 251.5 bn), or over 6% of GDP, in a scenario where oil prices average USD 62 per barrel in 2025, Goldman Sachs economist Farouk Soussa said earlier this month. The government needed oil at USD 93 a barrel to balance last year\u2019s budget, according to Bloomberg Economics\u2019 Chief Emerging Markets Economist Ziad Daoud.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fund\u2019s forecasts are mainly driven by a slowdown in global demand<\/strong>, due to US President Donald Trump's tariffs and the subsequent escalation of the trade war between Washington and Beijing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We\u2019ve got a rundown of the outlook on the global economy in today\u2019s Planet Finance, below.<\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"96308\" 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=\"96308\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/ucic-sets-ipo-price-range-ahead-of-tadawul-listing\/\">\r\n                            United Carton Industries sets IPO price range ahead of Tadawul listing                        <\/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\/23\/ucic-sets-ipo-price-range-ahead-of-tadawul-listing\/\" 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\/23\/ucic-sets-ipo-price-range-ahead-of-tadawul-listing\/')\">\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\/23\/ucic-sets-ipo-price-range-ahead-of-tadawul-listing\/\">\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=UCIC sets IPO price range ahead of Tadawul listing&url=https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/ucic-sets-ipo-price-range-ahead-of-tadawul-listing\/\">\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\/23\/ucic-sets-ipo-price-range-ahead-of-tadawul-listing\/&title=UCIC sets IPO price range ahead of Tadawul listing\">\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=UCIC+sets+IPO+price+range+ahead+of+Tadawul+listing+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F04%2F23%2Fucic-sets-ipo-price-range-ahead-of-tadawul-listing%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\/23\/ucic-sets-ipo-price-range-ahead-of-tadawul-listing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1478.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"96309\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/ucic-sets-ipo-price-range-ahead-of-tadawul-listing\/1478-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1478.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1478.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1478.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1478.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-96308\" class=\"content-area-description single-story post-96308 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-enterpriseam-ksa tag-ipo-watch tag-tadawul tag-united-carton-industries-company-ucic 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\/.52f3f42d-285b-45f3-9cba-0f0168b19f75.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong><a target=\"_blank\" href=\"https:\/\/www.ucic.com.sa\/\" style=\"\" rel=\"noopener\">United<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ucic.com.sa\/\" style=\"\" rel=\"noopener\">Carton Industries<\/a><\/strong><strong> (UCIC) is guiding on an indicative price range of SAR <\/strong><strong>47-50 per <\/strong><strong>share for its upcoming Tadawul IPO<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/4\/1405.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a>. The top of the range would allow the firm to raise SAR 600 mn in proceeds and would give it a market cap of SAR 2 bn at listing, according to our calculations. The final offering price will be determined after the book-building process is completed on Monday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> UCIC is taking a 30% stake to the main market in a secondary offering, whereby selling shareholders will rake in all of the proceeds from the sale after deducting SAR 24 mn in offering-related expenses. The IPO will see three of UCIC\u2019s five substantial shareholders sell down their position to a combined 70% stake, down from 100%. Their shares will remain on lock-up for a period of six months from the first day of trading.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> Institutions will be able to submit their orders until Monday, 28 April. For retail investors, a two-day subscription window will open on Monday, 12 May, with the final allocation of shares slated for Sunday, 18 May. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The size band:<\/strong> Institutional investors will have a minimum subscription limit of 100k shares and a maximum of about 1.99 mn shares each, while a retail investor can subscribe to anywhere between 10 and 400k shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Al Rajhi Capital is quarterbacking the transaction as lead manager, financial advisor, bookrunner, and underwriter, with Stat Law Firm providing counsel. Meanwhile, Gibson, Dunn and Crutcher Law Firm is acting as counsel for Al Rajhi Capital.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/tadawul\/\">Tadawul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/united-carton-industries-company-ucic\/\">United Carton Industries Company (UCIC)<\/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=\"96310 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=\"96310\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/96310\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-96310\" class=\"content-area-description single-story post-96310 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1942.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"96311\" 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=\"96311\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/saudi-companies-grab-lions-share-of-gcc-corporate-earnings-in-4q-2024-kamco\/\">\r\n                            Saudi companies grab lion\u2019s share of GCC corporate earnings in 4Q 2024 -Kamco                        <\/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\/23\/saudi-companies-grab-lions-share-of-gcc-corporate-earnings-in-4q-2024-kamco\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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         <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Saudi+companies+grab+lion%E2%80%99s+share+of+GCC+corporate+earnings+in+4Q+2024+-Kamco+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F04%2F23%2Fsaudi-companies-grab-lions-share-of-gcc-corporate-earnings-in-4q-2024-kamco%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\/23\/saudi-companies-grab-lions-share-of-gcc-corporate-earnings-in-4q-2024-kamco\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/598.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"96312\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/saudi-companies-grab-lions-share-of-gcc-corporate-earnings-in-4q-2024-kamco\/598-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/598.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"598.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/598.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/598.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-96311\" class=\"content-area-description single-story post-96311 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseam-ksa tag-gcc 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\/.b5c4f9d0-75a9-476f-a882-eb4cd9f1f993.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi-listed c<\/strong><strong>ompanies <\/strong><strong>have continued<\/strong><strong> to surpass their Gulf peers in 4Q 2024<\/strong>, reporting 3.1% y-o-y growth in net income at USD 34.8 bn, according to Kamco Invest\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/4\/1027.pdf\" style=\"\" rel=\"noopener\">GCC Corporate Earnings report (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The drivers: <\/strong>A sharp decline in the energy sector\u2019s aggregate earnings was offset by healthy growth in the banking, telecom, and food sectors, helping Saudi companies account for some 61% of the GCC total.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1484.png?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong>The energy sector saw a 15.4% y-o-y decline in aggregate earnings during the quarter, driven by Aramco\u2019s net income dropping 15.7% y-o-y to USD 24.1 bn. On the other hand, the banking sector\u2019s aggregate earnings rose 20.4% y-o-y to USD 5.6 bn in 4Q 2024, with Saudi National Bank reporting a net income of USD 1.5 bn (+11.7%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Biggest gainers: <\/strong>The telecom sector managed to lead the gains with a five-fold rise in its aggregate earnings to USD 3.9 bn during the first quarter. The food, beverages, and tobacco sector also logged an eight-fold increase at USD 2.8 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Full-year snapshot:<\/strong> Saudi companies closed FY 2024 with aggregate earnings down 3.2% y-o-y at USD 150.9 bn. The banking and telecom sectors offset the steep decline in the energy sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sector of the year:<\/strong> The telecom sector\u2019s aggregate earnings rose 69.8% y-o-y to USD 7.6 bn in FY 2024. STC led the gains with an 85.7% increase at USD 6.6 bn, followed by Mobily at USD 828 mn (+39.2%). Meanwhile, Zain KSA\u2019s income dropped 52.9% to USD 158.9 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE REGIONAL PICTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aggregate net income for GCC-listed companies hit USD 57.3 bn in 4Q 2024<\/strong>, up 2.0% y-o-y and marking a three-quarter low. The energy sector was the biggest drag, with earnings falling 16.6% y-o-y to USD 25.7 bn, while the utilities sector swung to a USD 1.3 bn net loss, driven by deeper losses at Saudi Electricity Co.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oman led the region in 4Q earnings growth<\/strong>, going up 83.4% y-o-y, followed by Bahrain (+43.2%) and Kuwait (+37.1%). Dubai\u2019s 20.1% gain outpaced both Saudi Arabia and Qatar.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For the full year<\/strong>, GCC-listed companies recorded USD 241.1 bn in net income, down 1.4% from 2023. The steepest declines came from the energy, utilities, and food and beverage sectors. Banking was the region\u2019s strongest performer, with earnings for the year rising 10.3% to a record USD 60.1 bn. Telecoms followed, with a 171% y-o-y increase.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gcc\/\">GCC<\/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=\"96313\" 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=\"96313\">\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\/23\/finmin-closes-sar-3-71-bn-april-sukuk-issuance\/\">\r\n                            FinMin closes SAR 3.71 bn April sukuk issuance                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/finmin-closes-sar-3-71-bn-april-sukuk-issuance\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/finmin-closes-sar-3-71-bn-april-sukuk-issuance\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/finmin-closes-sar-3-71-bn-april-sukuk-issuance\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=FinMin closes SAR 3.71 bn April sukuk issuance&url=https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/finmin-closes-sar-3-71-bn-april-sukuk-issuance\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/finmin-closes-sar-3-71-bn-april-sukuk-issuance\/&title=FinMin closes SAR 3.71 bn April sukuk issuance\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=FinMin+closes+SAR+3.71+bn+April+sukuk+issuance+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F04%2F23%2Ffinmin-closes-sar-3-71-bn-april-sukuk-issuance%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/finmin-closes-sar-3-71-bn-april-sukuk-issuance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/115.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"96314\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/finmin-closes-sar-3-71-bn-april-sukuk-issuance\/115-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/115.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"115.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/115.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/115.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-96313\" class=\"content-area-description single-story post-96313 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-enterpriseam-ksa tag-finance-ministry tag-national-debt-management-center-ndmc 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\/.ba8ffd48-383f-4bb4-a81a-b5b2e9188588.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Finance Ministry raised an additional SAR 3.71 bn from<\/strong><strong> fixed-income <\/strong><strong>investors <\/strong><strong>in the latest April sukuk issuance<\/strong>, marking a 40.5% increase compared to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1b4054d7-6159-4d83-a7e2-4e671526433d\/finmin-closes-sar-2.64-bn-march%253cmark%253e-sukuk%253c%2Fmark%253e-issuance\" style=\"\" rel=\"noopener\">March\u2019s SAR 2.64 bn<\/a>, according to a National Debt Management Center <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/4\/1440.pdf\" style=\"\" rel=\"noopener\">s<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/4\/1440.pdf\" style=\"\" rel=\"noopener\">tatement (pdf)<\/a>. This is part of the government\u2019s SAR-denominated sukuk program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The April issuance was structured in four tranches<\/strong><strong>:<\/strong><\/p>\n<ul>\n<li>A <strong>four-year<\/strong> tranche valued at SAR 1.31 bn with a 4.81% yield<\/li>\n<li>A <strong>seven-year<\/strong> tranche valued at SAR 80 mn with a 4.85% yield<\/li>\n<li>A <strong>11-year<\/strong> tranche valued at SAR 765 mn with a 5.01% yield<\/li>\n<li>A <strong>14-year<\/strong> tranche valued at SAR 1.55 bn with a 5.11% yield<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A glimpse into the Kingdom\u2019s debt landscape:<\/strong> As of March 2025, Saudi Arabia\u2019s total direct debt reached SAR 1.33 tn (USD 354.3 bn) \u2014 SAR 797.1 bn (USD 231.6 bn) in domestic debt and SAR 531.7 bn (USD 141.8 bn) in external debt, according to <a target=\"_blank\" href=\"https:\/\/ndmc.gov.sa\/en\/stats\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">NDMC\u2019s data<\/a>. This marks a 9.3% increase from the previous year, highlighting the ongoing expansion of the Kingdom's debt portfolio.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/national-debt-management-center-ndmc\/\">National Debt Management Center (NDMC)<\/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=\"96315\" 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=\"96315\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/balubaids-sec-wraps-up-nomu-offering\/\">\r\n                            Balubaid\u2019s SEC wraps up Nomu offering                        <\/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\/23\/balubaids-sec-wraps-up-nomu-offering\/\" 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\/23\/balubaids-sec-wraps-up-nomu-offering\/')\">\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\/23\/balubaids-sec-wraps-up-nomu-offering\/\">\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=Balubaid\u2019s SEC wraps up Nomu offering&url=https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/balubaids-sec-wraps-up-nomu-offering\/\">\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\/23\/balubaids-sec-wraps-up-nomu-offering\/&title=Balubaid\u2019s SEC wraps up Nomu offering\">\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=Balubaid%E2%80%99s+SEC+wraps+up+Nomu+offering+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F04%2F23%2Fbalubaids-sec-wraps-up-nomu-offering%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\/23\/balubaids-sec-wraps-up-nomu-offering\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1476.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"96316\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/balubaids-sec-wraps-up-nomu-offering\/1476-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1476.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1476.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1476.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1476.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-96315\" class=\"content-area-description single-story post-96315 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-enterpriseam-ksa tag-ipo-watch tag-service-equipment-company 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\/.3bf8d797-f81c-433c-8e5f-b40b89ff3aec.mp3\"><\/audio><\/figure><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:\/\/serviceequipment.com.sa\/\" style=\"\" rel=\"noopener\">Service<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/serviceequipment.com.sa\/\" style=\"\" rel=\"noopener\">Equipment Company<\/a><\/strong><strong>\u2019s (SEC) Nomu offering was 1.5x covered<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86620&anCat=1&cs=1024&locale=en\" style=\"\" rel=\"noopener\">a<\/a><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86620&anCat=1&cs=1024&locale=en\" style=\"\" rel=\"noopener\">filing<\/a> to Tadawul. Final allocations were completed yesterday, with Yaqeen Capital now working with Tadawul to wrap up listing formalities and set a trading date. SEC is the automotive maintenance unit of Saudi conglomerate <a target=\"_blank\" href=\"https:\/\/www.balubaid.com\/\" style=\"\" rel=\"noopener\">Balubaid Group<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the offering: <\/strong>The Jeddah-based company is taking a 30% stake to market at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b73b8381-f2d5-4a60-a8e0-8d854b06aa4f\/%253cmark%253eservice-equipment%253c%2Fmark%253e-sets-ipo-price-range-ahead-of-its-nomu-listing\" style=\"\" rel=\"noopener\">SAR 84 a<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b73b8381-f2d5-4a60-a8e0-8d854b06aa4f\/%253cmark%253eservice-equipment%253c%2Fmark%253e-sets-ipo-price-range-ahead-of-its-nomu-listing\" style=\"\" rel=\"noopener\">piece<\/a> in a secondary share offering, where it is set to raise up to SAR 60.5 mn and boast a market cap of SAR 201.6 mn at listing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Yaqeen Capital is quarterbacking the transaction as financial advisor and lead manager, with RSM acting as accountant. Receiving agents include Derayah Financial, Alinma Investment, Al Rajhi Capital, SNB Capital, BSF Capital, Riyad Capital, ANB Capital, Alistithmar Capital, Albilad Capital, AlJazira Capital, GIB Capital, Alkhabeer Capital, SAB Invest, and Sahm Capital.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/service-equipment-company\/\">Service Equipment Company<\/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=\"96317\" 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=\"96317\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/saudi-leads-mena-vc-surge-as-region-defies-global-slowdown\/\">\r\n                            Saudi Arabia leads MENA VC surge as region defies global slowdown                        <\/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 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    <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/saudi-leads-mena-vc-surge-as-region-defies-global-slowdown\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1204.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"96318\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/saudi-leads-mena-vc-surge-as-region-defies-global-slowdown\/1204-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1204.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1204.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1204.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1204.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-96317\" class=\"content-area-description single-story post-96317 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam-ksa tag-investment-watch tag-startup-watch 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\/.2e112f82-b7dc-4976-bf16-6e3cf733bd32.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Saudi le<\/strong><strong>d the Middle East and North Africa (MENA)<\/strong><strong> region in venture capital funding in <\/strong><strong>1Q 2025<\/strong>, attracting USD 391 mn \u2014 over half of the region\u2019s total \u2014 and topping global emerging markets, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-04-22\/saudi-arabia-becomes-biggest-emerging-market-for-vc-fundraising\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing Magnitt data.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The drivers: <\/strong>The Kingdom secured the largest share in both capital raised and agreement count thanks to a surge in Series A and B rounds, strong state-backed investment, and a maturing startup ecosystem positioning it as the \u201cbeating heart\u201d of MENA\u2019s venture ecosystem, Magnitt\u2019s <a target=\"_blank\" href=\"https:\/\/magnitt.com\/research\/q1-2025-mena-venture-investment-report-50988\" style=\"\" rel=\"noopener\">1Q 2025 MENA Venture Investment Report<\/a> reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MENA bucks the trend:<\/strong> VC investment in MENA climbed 58% y-o-y in 1Q to USD 678 mn \u2014 its strongest quarterly figure since late 2023 \u2014 driven by interest rate cuts, active sovereign wealth funds, and startup-focused events in Riyadh and Dubai. The strong growth comes amid a broader slowdown across emerging markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Smaller tickets made up the bulk: <\/strong>Small rounds (below USD 100 mn) accounted for USD 518 mn of the region\u2019s total funding in 1Q, rising from USD 298 mn in the same period last year. Meanwhile, mega transactions (above USD 100 mn) rose to USD 160 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The standout sectors: <\/strong>Fintech led the pack, capturing 57% of all funding \u2014 driven by homegrown Tabby\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9e82989c-f2ee-4058-bbbd-2a53ae3f4477\/%253cmark%253etabby%253c%2Fmark%253e-raises-usd-160-mn-in-series-e-round,-becoming-mena%25e2%2580%2599s-most-valuable-fintech\" style=\"\" rel=\"noopener\">USD 160 mn series E<\/a> round. Enterprise software and edtech also saw strong growth, while e-commerce and retail experienced a slowdown.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AI investment also begun to pick up some rhythm in the region<\/strong>, accounting for 5% of total investment but still well below the 37% global average, said Magnitt CEO Philip Bahoshy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meet the investors: <\/strong>STV, Hassana Investment, Blue Pool Capital, and Wellington Management were the region\u2019s most active VC players, closing some of the largest transactions. STV participated in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2b1096c5-8a3c-4f92-8edc-984898b87995\/ula,-torod,-buildnow,-taager,-madkhool-secure-multi-usd-mn-investments#:~:text=Build%2Dnow%2Dpay%2Dlater%20Saudi%2Dbased%20startup%20Buildnow%20raised%20USD%209.7%20mn\" style=\"\" rel=\"noopener\">Buildnow\u2019s USD 9.7 mn<\/a> investment round, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/12ba52e9-d4c6-4531-bc8a-830806eb9b79\/calo-closes-usd-25-mn-series-b-funding-%2B-eyes-tadawul-ipo#:~:text=The%20round%20saw%20participation%20from%20STV%2C%20Khwarizmi%20Ventures%20and%20some%20unnamed%20regional%20family%20offices.\" style=\"\" rel=\"noopener\">Calo\u2019s USD 25 mn<\/a> series B round, and Tabby\u2019s USD 160 mn series E round. Still, foreign support remained a key factor, as it accounted for roughly 40% of total investment, Bahoshy said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ON THE M&A FRONT- <\/strong>The M&A sector hit a quarterly peak with an all-time high of 21 regional agreements, led by Egypt and the UAE with nine agreements each.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>While MENA\u2019s momentum remains strong, Bahoshy warned that declining oil prices and market uncertainty are \u201caffecting the whole funnel,\u201d dampening investor confidence and potentially impacting LP capital deployment, VC decision-making, startup fundraising, and IPOs. However, long-term prospects remain robust, supported by government backing and tech sector growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- A recap of last year:<\/strong> Despite a 44% y-o-y drop, Saudi led MENA with USD 750 mn in VC funding in 2024 (almost half the regional total) and saw the largest increase in transaction numbers (up 16% y-o-y at 178), according to Magnitt\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5c277dae-5e8f-49c2-ae29-476962c5261b\/saudi-tops-regional-vc-funding-league-tables-in-2024\" style=\"\" rel=\"noopener\">2024 venture investment report<\/a>. PIF-backed Sanabil was the top investor with USD 59 mn, and Saudi e-commerce firm Salla secured the largest transaction at USD 130 mn. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP 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=\"96319\" 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=\"96319\">\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\/23\/snb-sees-stellar-earnings-this-quarter\/\">\r\n                            SNB sees \u201cstellar\u201d earnings this 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\/23\/snb-sees-stellar-earnings-this-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(); 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SNB\u2019s total income from financing grew 2.6% y-o-y to SAR 10.9 bn, while its total income from investments went up 16.8% y-o-y to SAR 3.4 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shattering expectations<\/strong><strong>: <\/strong>The earnings beat analyst estimates across operating income and EPS metrics, with CI Capital praising the results as \u201cstellar,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-04-22\/saudi-national-bank-shares-jump-on-stellar-earnings-report\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. The results come amid the rollout of a new three-year strategy under CEO Tareq Abdulrahman Al Sadhan to boost operations and stock performance.<\/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\">AL RAJHI BANK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Rajhi<\/strong><strong> Bank\u2019s net income ro<\/strong><strong>se 34.1% y-o-y to SAR 5.9 bn in 1Q 2025<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86642&anCat=1&cs=1120&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Total income from financing grew 18.6% y-o-y to SAR 10.93 bn, while total income from investments climbed 40.9% y-o-y to SAR 2.24 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ALDREES PETROLEUM AND TRANSPORT SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.aldrees.com\/english\/\" style=\"\" rel=\"noopener\">Aldrees Petroleum and Transport Services<\/a><\/strong><strong> posted a 29.3% y-o-y <\/strong><strong>increase <\/strong><strong>in net income to SAR 100.1 mn in 1Q 2025<\/strong>, supported by solid performance across its Petrol and Transport divisions, increased income from deposits and Sukuk, and stronger returns from a JV, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86628&anCat=1&cs=4200&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong>Revenue rose 33.8% y-o-y to SAR 5.8 bn over the same period, driven by an expanded station network and improved transport rates.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/al-rajhi-bank\/\">Al Rajhi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aldrees-petroleum-and-transport-services-company\/\">Aldrees Petroleum and Transport Services 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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-national-bank-snb\/\">Saudi National Bank (SNB)<\/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=\"96321\" 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=\"96321\">\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\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/the-golden-age-of-boxing-is-back-thanks-to-riyadhs-deep-pockets\/\">\r\n                            The golden age of boxing is back thanks to Riyadh\u2019s deep pockets                        <\/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 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href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/the-golden-age-of-boxing-is-back-thanks-to-riyadhs-deep-pockets\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1471.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"96322\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/the-golden-age-of-boxing-is-back-thanks-to-riyadhs-deep-pockets\/1471-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1471.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1471.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1471.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1471.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-96321\" class=\"content-area-description single-story post-96321 post type-post status-publish format-standard has-post-thumbnail hentry category-saudi-in-the-news tag-boxing tag-enterpriseam-ksa tag-saudi-in-the-news tag-turki-al-sheikh 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\/.ad8ba876-a062-45a1-836b-2b1f4958d3f3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi m<\/strong><strong>oney bringing back Boxing\u2019s Vegas heyday era to Riyadh made headlines<\/strong><strong> in the international press<\/strong>, with World Boxing Council President Mauricio Sulaiman telling <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-04-21\/saudi-arabia-s-cash-is-reviving-boxing-s-vegas-and-don-king-era-wbc-executive\" style=\"\" rel=\"noopener\">Bloomberg<\/a> that the Kingdom is driving a new golden age for the sport.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sulaiman was attending the Riyadh Season WBC Boxing Grand Prix<\/strong>, which for him was reminiscent of the sport\u2019s glamorous era of Muhammad Ali and George Foreman. The Kingdom has hosted fights between some of the biggest names of the sport in the past two years, including <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/209e9699-f93d-430a-b780-17e61f57f450\/subscription-opens-tomorrow-for-almoosa-health-ipo#:~:text=%233%2D%20Oleksandr%20Usyk%20defeated%20Tyson%20Fury%20once%20again%20in%20their\" style=\"\" rel=\"noopener\">Tyson vs. Oleksander<\/a> last year, with 1.5 mn pay-per-view buys, rivaling the iconic Tyson-Holyfield rematch in 1997 with almost two mn pay-per-view buys.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Discussions are underway on tournaments, global events, and potentially a boxing<\/strong><strong> museum<\/strong>, Sulaiman added. While still in the early stages, he sees Saudi investment as a potential unifier for the sport\u2019s fragmented landscape. The PIF is partnering with TKO Group Holdings to create a new boxing promoter with plans to host its first event next year, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-05\/ufc-owner-signs-saudi-deal-to-create-new-boxing-venture\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported separately.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The catch lies in whether the kingdom can keep the funds flowing<\/strong> with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3acca6c7-d64b-46dd-813b-4719c7f76cb0\/oil-decline-may-lead-to-biggest-deficit-since-2020--%253cmark%253egoldman%253c%2Fmark%253e%253cmark%253e-sachs%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">budget priorities shifting<\/a>. Despite this, Sulaiman remains bullish. \u201cThe way it looks right now, the answer is yes,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other promoters can\u2019t compete with Saudi-sized purses:<\/strong> Established promoters are under pressure to stay competitive as the Kingdom\u2019s deep pockets push them to boost ticket revenue or secure streaming and partnership agreements to stay afloat, Sulaiman said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/boxing\/\">boxing<\/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\/turki-al-sheikh\/\">Turki Al Sheikh<\/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=\"96323\" 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=\"96323\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/private-tourism-sector-to-localize-41-professions-amid-saudization-push\/\">\r\n                            Private tourism sector to localize 41 professions amid Saudization push tourism sector                        <\/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\/23\/private-tourism-sector-to-localize-41-professions-amid-saudization-push\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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tourism sector to localize 41 professions amid Saudization push&url=https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/private-tourism-sector-to-localize-41-professions-amid-saudization-push\/\">\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\/23\/private-tourism-sector-to-localize-41-professions-amid-saudization-push\/&title=Private tourism sector to localize 41 professions amid Saudization push\">\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 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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"96324\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/private-tourism-sector-to-localize-41-professions-amid-saudization-push\/1487-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1487.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1487.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1487.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1487.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-96323\" class=\"content-area-description single-story post-96323 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam-ksa tag-saudi-telecom-company-stc tag-solutions-by-stc 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\/.14b73000-cfe8-49ef-8475-e5840565eb48.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\">SAUDIZATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi Arabia <\/strong><strong>will implement a three-phase plan to localize <\/strong><strong>41<\/strong><strong> professions within the<\/strong> <strong>private tourism sector <\/strong>in a bid to increase Saudi professionals in the labor market, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/4\/1402.pdf\" style=\"\" rel=\"noopener\">procedural guide (pdf)<\/a> published by the HR and Social Development Ministry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first phase<\/strong>, commencing on 22 April 2026, will see roles such as central operator and hotel receptionist subject to a 100% Saudization rate. A 70% Saudization rate will then apply to positions like tour guide and hotel quality control specialist, followed by a 50% rate for roles such as tourism development specialist and tourism organizer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What about the second and third phases? <\/strong>The second phase, starting on 3 January 2027, will see chef positions requiring a 30% Saudization rate, while the last phase will see a host of managerial professions requiring a rate of 50%, starting on 2 January 2028.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The Ministry announced new directives <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4772dccb-c3a6-4cca-827e-4110feddda6b\/saudi%25e2%2580%2599s-private-sector-employed-12.1-mn-people-in-2024-%2B-new-nationalization-targets#:~:text=Nationalization%20rates%20are%20set%20to%20be%20increased%20in%20269%20professions\" style=\"\" rel=\"noopener\">in January<\/a> to raise Saudization rates across 269 professions in sectors including engineering (30% for 184 roles), dentistry (45% starting July this year), accounting (40% for firms with over five accountants by October this year), and pharma (35% for community pharmacies, 65% for hospital roles, and 55% for other pharma-related jobs, all effective from July 2025).<\/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>Tadawul-listed conglomerate <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.amwaj-trd.com\/en\" style=\"\" rel=\"noopener\">Amwaj International<\/a><\/strong><strong> bought an 18% stake in Dubai luxury<\/strong> <strong>developer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/cledor.com\/\" style=\"\" rel=\"noopener\">Cledor<\/a><\/strong><strong> for an undisclosed sum<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/amwaj-international-acquires-18-stake-in-dubai-based-cledor-at-100mln-post-money-valuation-y4gqf461\" style=\"\" rel=\"noopener\">joint statement<\/a>. The investment \u2014 which marks Amwaj\u2019s first venture into the Emirati market \u2014 values Cledor at USD 100 mn. Cledor will manage Amwaj\u2019s upcoming projects in the UAE as part of the agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the gain for each side?<\/strong> The acquisition gives Amwaj operational exposure in Dubai and a vehicle to deploy capital in a high-growth segment. For Cledor, the investment provides a runway to cover operating costs, access to Amwaj\u2019s procurement and talent network, and institutional backing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The National W<\/strong><strong>ater Company (NWC) completed the implementation of two major water <\/strong><strong>supply projects in <\/strong><strong>the Riyadh Province<\/strong>, spanning over 26km at a total cost exceeding SAR 140 mn, according to a <a target=\"_blank\" href=\"https:\/\/www.nwc.com.sa\/En\/MediaCenter\/News\/Pages\/water-lines-in-Diriyah.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. These projects aim to boost water capacity by 146k cubic meters per day, improving water supply to the city of Diriyah and the Diriyah Gate project, as well as districts in Riyadh, including Hittin, Al Nakheel, and Al Khuzama.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> NWC <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ab996e8d-6a91-414f-b5fe-0cbe88bbeef6\/%253cmark%253enwc%253c%2Fmark%253e-breaks-ground-on-30-water,-sewage-projects\" style=\"\" rel=\"noopener\">broke ground<\/a> on 30 new water and sewage projects across Riyadh valued at around SAR 2 bn earlier this month. The projects included around 1.9k km of new pipelines across the city of Riyadh and neighboring governorates, including Diriyah.<\/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\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Renewables giant <\/strong><strong><a target=\"_blank\" href=\"https:\/\/acwapower.com\/en\" style=\"\" rel=\"noopener\">ACWA Power<\/a><\/strong><strong> secured a seven-year SAR 750 mn loan from<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alinma.com\/\" style=\"\" rel=\"noopener\">Alinma<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alinma.com\/\" style=\"\" rel=\"noopener\">Bank<\/a><\/strong> to finance the construction of its new headquarters in Riyadh, according to <a target=\"_blank\" href=\"https:\/\/www.acwapower.com\/news\/acwa-power-secures-sar-750-million-loan-facility-from-alinma-bank-for-the-new-headquarter\/\" style=\"\" rel=\"noopener\">a statement<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/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\/saudi-telecom-company-stc\/\">Saudi Telecom Company (STC)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/solutions-by-stc\/\">Solutions by stc<\/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=\"96325\" 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=\"96325\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/imf-cuts-growth-forecasts-as-tariffs-hit-global-economy\/\">\r\n                            IMF cuts growth forecasts as tariffs hit global economy                        <\/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\/23\/imf-cuts-growth-forecasts-as-tariffs-hit-global-economy\/\" 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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Growth is expected to edge up to 3.0% in 2026, though this remains below the IMF\u2019s earlier projections at 3.3%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We all know the culprit: <\/strong>The revision is a direct consequence of \u201cnew trade measures and their indirect effects through trade linkage spillovers, heightened uncertainty, and deteriorating sentiment.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Major economies projected to take a hit:<\/strong> The US is now expected to grow 1.8% in 2025, down nearly one percentage point from the previous forecast, as \u201cgreater policy uncertainty, trade tensions, and a softer demand outlook\u201d weigh down on consumption. Meanwhile, Japan\u2019s growth was cut by 0.5 points to 0.6%, with tariff concerns expected to offset gains in private consumption and disposable income. The Fund also downgraded its forecast for Canada\u2019s growth by 0.6 percentage points, and for the UK by half a point.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China and India will bear the brunt too: <\/strong>China\u2019s 2025 outlook was cut by 0.6 points to 4.0%, as trade restrictions \u201coffset the stronger carryover from 2024 and fiscal expansion in the budget.\u201d The following year comes with a similar downward revision and growth forecast. Meanwhile, India\u2019s growth was trimmed by 0.3 percentage points to 6.2%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Across the Atlantic:<\/strong> Growth in the Eurozone is expected to decline \u201cslightly\u201d to 0.8% this year. Still, the IMF projects a stronger growth of 1.2% next year, driven by stronger consumption and rising wages as \u201cdebt brake\u201d reforms in Germany spur growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Spain is a rare bright spot in the Fund\u2019s updated forecasts<\/strong>, with an upward revision of 0.2 percentage points, leaving 2025 growth forecast at 2.5%. This reflects \u201ca large carryover from better-than-expected outturns in 2024 and reconstruction activity following floods,\u201d the IMF said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tariff clouds may turn into showers:<\/strong> Recent waves of US tariffs and the resulting retaliatory measures by China, Canada, and the EU have created \u201cunprecedented\u201d policy uncertainty. This is dragging down global trade volumes, which are now expected to grow just 1.7% in 2025 \u2014 a full 1.5 percentage points lower than previous expectations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new era: <\/strong>\u201cThe increased uncertainty and tightening of financial conditions could well dominate the short term, weighing on economic activity, as reflected in the sharp decline in oil prices,\u201d IMF chief economist Pierre-Olivier Gourinchas said in a <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/Blogs\/Articles\/2025\/04\/22\/the-global-economy-enters-a-new-era\" style=\"\" rel=\"noopener\">blog post<\/a>. Growth prospects could see immediate improvement, however, if countries managed to move past differences and forge new trade agreements, Gourinchas added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The inflation outlook <\/strong>Global inflation is expected to decline the next two years, hovering at around 4.3% in 2025 (revised slightly upwards) and at 3.6% in 2026.<\/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 in the green this morning<\/strong>, after comments from the Donald sparked hopes for tariff de-escalation. Hong Kong\u2019s Hang Seng is leading gains with a 1.8% increase, followed by Japan\u2019s Nikkei at 1.7%. <strong>Wall Street futures are also inching up<\/strong> following strong gains yesterday, after Trump denied plans to remove the Fed chief.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tbody>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,586<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: -3.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,475<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: -2.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">28,282<\/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\">-1.2% (YTD: -10.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.0% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,844<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +3.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,257<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -1.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,134<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: -0.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5288<\/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\">+2.5% (YTD: -10.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8329<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +1.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4961<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 67.94<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.05<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3348.90<\/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>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 92,859.30<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+6.5% (YTD: -0.7%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI <\/strong>rose 0.5% <strong>yesterday <\/strong>on turnover of SAR 5.4 bn. The index is down 3.7% 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> SFICO (+10.0%), Aljazira Reit (+9.9%) and Alistithmar Reit (+9.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Jahez (-3.3%), Alandalus (-3.2%) and ACIG (-3.0%).<\/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 1.2% <strong>yesterday <\/strong>on turnover of SAR 26.7 mn. The index is down 10.2% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Dar Almarkabah (+20.9%), Mayar (+9.7%) and Aljouf Water (+6.0%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> NBM (-9.4%), Alrazi (-9.1%) and Horizon Food (-9.0%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/international-monetary-fund-imf\/\">International Monetary Fund (IMF)<\/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=\"96327\" 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=\"96327\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/modi-visits-jeddah-to-boost-strategic-ties\/\">\r\n                            Modi visits Jeddah to boost strategic ties                        <\/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\/23\/modi-visits-jeddah-to-boost-strategic-ties\/\" 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 visit comes at a time of global trade tensions and growing efforts by both countries to deepen economic and strategic ties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Modi is likely to push for fresh Saudi investments in India<\/strong>, including in the energy and defense sectors, following past pledges of up to USD 100 bn. Cooperation in oil and petrochemicals remains key, but both sides are also exploring new areas like renewables, healthcare, and digital infrastructure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The visit seems to have been cut short: <\/strong>The prime minister left Jeddah early this morning, with Indian news outlets citing a deadly terrorist attack in Kashmir \u2014 the worst in over a year \u2014 as the reason for the early departure. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-india-relations\/\">Saudi-India relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"96329\" 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\/23\/96329\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-96329\" class=\"content-area-description single-story post-96329 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 style=\"font-weight:400;\">17-23 April (Thursday-Wednesday): 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>21-26 April (Monday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/spring\/schedule\" style=\"\">World Bank Spring Meetings<\/a><\/span><span style=\"font-weight:400;\">, Washington.<\/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>27-28 April (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ssf.eventy.sa\/?event_id=dhcimVphLIB1d4J3r9yJnA\" style=\"\">First Saudi Statistics Forum<\/a><\/span><span style=\"font-weight:400;\">, Movenpick Hotel and Residences, Riyadh <\/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>29 April (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/cma.org.sa\/en\/Market\/NEWS\/Pages\/CMA_N_3773.aspx\" style=\"\">Rules for special purpose entities<\/a><\/span><span style=\"font-weight:400;\"> (SPEs) feedback deadline.<\/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: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wipo.int\/en\/web\/awards\/global\/how-to-apply\" style=\"\">World Intellectual Property Organization (WIPO) Global Awards 2025<\/a><\/span><span style=\"font-weight:400;\"> announces finalists.<\/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>4-8 May (Sunday-Thursday): Adeer Real Estate Nomu IPO offering period. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 May (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.opec.org\/pr-detail\/557-03-april-2025.html#:~:text=The%20eight%20OPEC%2B%20countries%20will,decide%20on%20June%20production%20levels.\" style=\"\">Opec+<\/a><\/span><span style=\"font-weight:400;\"> meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-7 May (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/fomccalendars.htm\" style=\"\">US Federal Reserve Open Market Committee<\/a><\/span><span style=\"font-weight:400;\"> 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:\/\/pflmma.com\/mena-season\" 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>11-13 May (Sunday-Tuesday): <\/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>12-14 May (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/events.meed.com\/event\/saudigigaprojects\/\" style=\"\">2025 Saudi Giga projects Summit<\/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>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>23 May (Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.gunsnroses.com\/tour\" style=\"\">Guns N\u2019 Roses<\/a><\/span><span style=\"font-weight:400;\"> Show, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29 May (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/seu.edu.sa\/en\/calenderpage46\/\" style=\"\">2024-2025 academic year<\/a><\/span><span style=\"font-weight:400;\"> ends.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-9 June (Wednesday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.haj.gov.sa\/Home\" style=\"\">Hajj<\/a><\/span><span>.<\/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;\">6-10 June (Friday-Tuesday): Eid Al Adha.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-18 June (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/fomccalendars.htm\" style=\"\">US Federal Reserve Open Market Committee<\/a><\/span><span style=\"font-weight:400;\"> 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>24-25 June (Tuesday-Wednesday): <\/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>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=\"\">Cancellation of Fines and Exemption of Financial Penalties Initiative<\/a><\/span><span style=\"font-weight:400;\"> by the Zakat, Tax and Customs Authority (Zatca) deadline.<\/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 (Second week): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wipo.int\/en\/web\/awards\/global\/how-to-apply\" 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>7 July-24 August (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/esportsworldcup.com\/en\" style=\"\">Esports World Cup<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29-30 July (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/fomccalendars.htm\" style=\"\">US Federal Reserve Open Market Committee<\/a><\/span><span style=\"font-weight:400;\"> meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">31 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:700;\">AUGUST <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7 July-24 August (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/esportsworldcup.com\/en\" style=\"\">Esports World Cup<\/a><\/span><span>, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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=\"\">2025 Fiba Asia Cup<\/a><\/span><span style=\"font-weight:400;\">, Jeddah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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 (Monday-Wednesday): <\/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 (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/fomccalendars.htm\" style=\"\">US Federal Reserve Open Market Committee<\/a><\/span><span> 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>7-8 October (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 (GEMTECH) Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17 October (Friday): Saudization for private healthcare roles enters its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.hrsd.gov.sa\/ar\/media-center\/news\/%D8%A8%D8%AF%D8%A1-%D8%AA%D8%B7%D8%A8%D9%8A%D9%82-%D9%82%D8%B1%D8%A7%D8%B1-%D8%B1%D9%81%D8%B9-%D9%86%D8%B3%D8%A8-%D8%A7%D9%84%D8%AA%D9%88%D8%B7%D9%8A%D9%86-%D9%84%D8%A3%D8%B1%D8%A8%D8%B9-%D9%85%D9%87%D9%86-%D8%B5%D8%AD%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5\" style=\"\">second phase<\/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>22-23 October (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.privatecapitalforum.com.sa\/\" style=\"\">Private Capital Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-27 December (Saturday-Monday): <\/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>28-29 October (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/fomccalendars.htm\" style=\"\">US Federal Reserve Open Market Committee<\/a><\/span><span> 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;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-26 November (Sunday-Wednesday): <\/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>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.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-30 November (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wrc.com\/en\/calendar\" style=\"\">World Rally Championship Saudi Arabia 2025<\/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>30 November (Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1353.aspx\" style=\"\">Zatca<\/a><\/span><span style=\"font-weight:400;\"> 21st E-invocing integration wave deadline.<\/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 (Wednesday-Saturday): <\/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 and Radiological 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 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>31 December (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/en\/MediaCenter\/News\/Pages\/news_1353.aspx\" style=\"\">Zatca<\/a><\/span><span style=\"font-weight:400;\"> 22st E-invocing integration wave deadline.<\/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>26-29 October (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldenergy.org\/experiences-events\/world-energy-congress\" style=\"\">World Energy Congress<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The World Water Forum <\/span><span style=\"font-weight:400;\">takes place in Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The Ocean Race<\/span><span style=\"font-weight:400;\"> finishes in Amaala on the Red Sea.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Riyadh-Kudmi transmission line<\/span><span style=\"font-weight:400;\"> to be completed.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>UCIC sets IPO price range | SNG sees strong 1Q earnings | FinMin closes April sukuk issuance<\/p>\n","protected":false},"featured_media":96302,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-96301","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"f073ddda-fa85-462c-907c-286a8cd5f030","teaser":"UCIC sets IPO price range | SNG sees strong 1Q earnings | FinMin closes April sukuk issuance","photo_url":"https:\/\/ent.news\/2024\/10\/1284.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>IMF slashes our growth prospects as tariffs weigh down on global outlook - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/imf-slashes-our-growth-prospects-as-tariffs-weigh-down-on-global-outlook\/\" \/>\n<meta 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