{"id":82404,"date":"2023-11-29T00:00:00","date_gmt":"2023-11-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2023\/11\/29\/riyadh-will-play-host-to-expo2030-in-latest-boost-to-tourism-dreams-unthinkable-just-a-few-years-ago\/"},"modified":"2023-11-29T00:00:00","modified_gmt":"2023-11-29T00:00:00","slug":"riyadh-will-play-host-to-expo2030-in-latest-boost-to-tourism-dreams-unthinkable-just-a-few-years-ago","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2023\/11\/29\/riyadh-will-play-host-to-expo2030-in-latest-boost-to-tourism-dreams-unthinkable-just-a-few-years-ago\/","title":{"rendered":"Riyadh will play host to Expo2030 in latest boost to tourism dreams unthinkable just a few years ago"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people. We\u2019re going to kick off today with a nice run of five <\/strong><strong>stories that should put a smile on even the grumpiest of faces <\/strong>on this fall morning. And if you\u2019re into air freight or air travel? Well, we\u2019ve got a packed news well just for you.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- IT\u2019S OFFICIAL- We\u2019re hosting the 2030 World Expo<\/strong>, having trounced Italy and South Korea in balloting by member states of the Bureau International des Expositions late yesterday. Riyadh took 119 of 165 votes cast, <a target=\"_blank\" href=\"https:\/\/twitter.com\/bieparis\/status\/1729537977930396116?s=46&t=S0gIK7O7gFkQ_al6H2coMg\" style=\"\" rel=\"noopener\">according to a BIE post on X<\/a>, while Busan took just 29 votes and Rome \u2014 which has hosted before \u2014 a mere 17. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The event could attract mns to the Kingdom<\/strong>, cementing our position as one of the world\u2019s fastest-growing globally significant tourism destinations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So, when\u2019s it happening? <\/strong>October 2030 to March 2031. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How much will we invest? <\/strong>Something on the order of USD 7.8 bn or so, based on what officials had said at the time they first mounted the bid. We\u2019re still waiting for more details on investment plans, the location of the pavillion, et cetera.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And there\u2019s more: <\/strong>Saudi looks on track to get the nod to host the <strong>2034 FIFA World Cup<\/strong> \u2014 and Neom will host the <strong>2039 Asian Winter Games<\/strong>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The World Expo win is getting plenty of play in the international press: <\/strong><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/11\/28\/world\/middleeast\/saudi-arabia-world-expo-2030.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-28\/saudi-arabia-adds-2030-expo-to-growing-line-up-of-global-events?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/saudi-arabia-beats-italy-south-korea-host-2030-world-fair-2023-11-28\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.politico.eu\/article\/riyadh-saudi-arabia-world-expo-2030\/\" style=\"\" rel=\"noopener\">Politico<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> !_Anchor02-1 <strong>#2- We now own 10% of Heathrow<\/strong> after the Public Investment Fund (PIF) acquired the stake from Ferrovial, which offloaded in a GBP 2.4 bn transaction the 25% stake it\u2019s owned for some 17 years. Ardian, the European private equity major headquartered in France, acquired the remaining 15%. The transaction still requires regulatory approval, Ferrovial said in a <a target=\"_blank\" href=\"https:\/\/newsroom.ferrovial.com\/en\/press_releases\/ferrovial-announces-agreement-to-sell-stake-heathrow\/\" style=\"\" rel=\"noopener\">disclosure<\/a>. The story is getting ink in the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f45e2c55-3727-4ba7-b8f3-9fe8754e0152\" style=\"\" rel=\"noopener\">Financial Times<\/a> and from the <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/business-67562523\" style=\"\" rel=\"noopener\">BBC<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a>  <strong>#3- HAPPENING NOW- The first Asian exchange-traded fund tracking Saudi equities <\/strong><strong>made its trading debut in Hong Kong this morning<\/strong>, gaining 0.9% in early trading. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: The CSOP Saudi Arabia ETF<\/strong><strong>tracks the 56 constituents of the FTSE Saudi <\/strong><strong>Arabia Index<\/strong> and counts the PIF as an anchor investor, CSOP said in a press release. PIF Deputy Governor Yazeed A. Al-Humied is in Hong Kong this morning for the start of trading. You can check out the ETF on Bloomberg (WISAUNT) or Reuters (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/companies\/2830.HK\" style=\"\" rel=\"noopener\">2830.HK<\/a>). It is run by Hong Kong-based <a target=\"_blank\" href=\"https:\/\/www.csopasset.com\/\" style=\"\" rel=\"noopener\">CSOP Asset Management<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More to come:<\/strong> \u201cToday is a milestone in our financial cooperation with Saudi Arabia,\u201d <a target=\"_blank\" href=\"https:\/\/www.scmp.com\/business\/article\/3243168\/asias-first-saudi-arabia-etf-makes-winning-debut-hong-kong-milestone-event-stronger-china-middle\" style=\"\" rel=\"noopener\">reporters<\/a> quoted Hong Kong Financial Secretary Paul Chan as saying at the launch event. \u201cWe can <strong>expect to see more products to be made available in both the Hong Kong and the Saudi markets<\/strong> for our respective investor bases.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>See it as: The latest sign in our warming ties with China<\/strong>, one of our most important energy markets and a new diplomatic and investment partner. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#4- The 2023 Saudi Games kicked off yesterday <\/strong>with the opening ceremony at Riyadh\u2019s King Fahd International Stadium. More than 6k athletes will compete in 53 events ranging from tennis and boxing to archery and wrestling through 10 December. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#5- Al Hilal landed a place in the AFC Champions League\u2019s final 16 last night<\/strong> after putting down Uzbekistan's Navbahor 2-0, potentially setting up a fifth crown for the Saudi team.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** You\u2019re reading Zero Issue #004 of EnterpriseAM KSA. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Think of a zero issue as a \u201cbeta.\u201d<\/strong> This issue has not been published or distributed to a wide audience. The sponsor logos above are not correct because we\u2019re still developing the new Saudi template.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Did you receive this as a forward?<\/strong> Email editorial@enterprisemea.com and let us know if you\u2019d like to be added to our list of beta readers ahead of our launch.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Have a comment, criticism, or story tip? <\/strong>Hit up <a target=\"_blank\" href=\"mailto:patrick@enterprisemea.com\" style=\"\" rel=\"noopener\">patrick@enterprisemea.com<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TODAY- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lula is in town ahead of COP28 \u2014 and is getting the royal treatment<\/strong>, having met Crown Prince and Prime Minister Mohamed bin Salman at Yamamah Palace yesterday before he heads out to the UAE for COP28, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2004765\" style=\"\" rel=\"noopener\">the Saudi Press Agency<\/a> reports. Prince Mohamed and the Brazilian president inked a joint agreement to expand cooperation on the energy front. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Look for more news today<\/strong> as the two sides look to shore up global cooperation on energy and as Brazil angles to line up fresh Saudi investment. <a target=\"_blank\" href=\"https:\/\/english.alarabiya.net\/News\/world\/2023\/10\/24\/Brazil-s-Lula-likely-to-visit-Saudi-Arabia-to-discuss-investments-on-way-to-COP28-\" style=\"\" rel=\"noopener\">Reuters<\/a> says Lula wants Saudi investment to help speed the \u201cgrowth acceleration\u201d scheme his administration recently launched.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.chamber.org.sa\/sites\/English\/InformationCenter\/Memos\/Pages\/MemosDetails.aspx?Title=Jazan+Investment+Forum+2023+AD\" style=\"\" rel=\"noopener\">Jazan Investment Forum<\/a><\/strong><strong> kicks off today in a bid to lure investment to the <\/strong><strong>region. <\/strong>Look for the emphasis to be on sectors including the green economy, digital and logistics transformation, fintech and others. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TOMORROW-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GET READY for a hectic end to a busy week:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cop28.com\/\" style=\"\" rel=\"noopener\">COP28<\/a><\/strong><strong> kicks off tomorrow<\/strong>, with thousands of global leaders in climate, policy, and business touching down in Dubai for 13 days of intense negotiations to save our planet from climate catastrophe. <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2st3k3wf\" style=\"\" rel=\"noopener\">Check out the full agenda for the summit<\/a>, which runs from 30 November to 12 December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The loss and damage fund and who\u2019s going to pay for it is already causing a ruckus: <\/strong>Former world leaders and leading economists have signed a joint letter calling on oil-producing states \u2014 like the conference host country and its Gulf neighbors \u2014 to pay a USD 25 bn levy to fund the loss and damage fund, the <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/bdz47hvu\" style=\"\" rel=\"noopener\">Guardian<\/a> reports. Little progress has been made on the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/15bbe74e-71c7-4c48-9b0e-47c7b32caa79\" style=\"\" rel=\"noopener\">landmark loss and damage fund<\/a> over the past year after delegates from some 200 nations signed off on the pact at the close of COP27.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OPEC and the IAE are trading barbs as COP kicks off:<\/strong> OPEC Secretary General Haitham Al Ghais accused the International Energy Agency (IEA) of <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/opec-head-accuses-iea-vilifying-fossil-fuel-industry-2023-11-27\/\" style=\"\" rel=\"noopener\">smearing the oil and gas industry<\/a> in a recent note that said that the industry was facing a \u201cmoment of truth\u201d on the worsening climate crisis. \u201cThis presents an extremely narrow framing of challenges before us, and perhaps expediently plays down such issues as energy security, energy access and energy affordability,\u201d he said.<\/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- It\u2019s OPEC+ o\u2019clock:<\/strong> OPEC+ member states are <a target=\"_blank\" href=\"https:\/\/www.opec.org\/opec_web\/en\/press_room\/7260.htm\" style=\"\" rel=\"noopener\">meeting tomorrow<\/a> to discuss how the cartel of oil-producing nations will respond to falling oil prices, decide on next year\u2019s production targets, and make a decision on whether to prolong production cuts. The meeting was initially scheduled from Sunday, but was pushed back after alliance members filed to reach a consensus on the output quotas for African members. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is another delay in the cards?<\/strong> Reuters picked up chatter from OPEC+ sources that the once-delayed meeting may be <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/ydth6wxc\" style=\"\" rel=\"noopener\">delayed again<\/a> as African member states seem adamant on their <a target=\"_blank\" href=\"https:\/\/enterprise.news\/news\/story\/ea43e533-4bab-49ab-b7f6-6e850ef08ea7\/\" style=\"\" rel=\"noopener\">refusal<\/a> to cut production quotas for 2024. Bloomberg also thinks <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-28\/opec-no-closer-to-resolving-africa-oil-production-quota-dispute?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">talks are at an impasse<\/a> this morning.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- So. Much. Nomu: <\/strong><strong><a target=\"_blank\" href=\"https:\/\/armahsports.com\/\" style=\"\" rel=\"noopener\">Armah Sports<\/a><\/strong><strong> makes its SAE 137 mn parallel market debut <\/strong><strong>tomorrow<\/strong>, a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/m2t3k95s\" style=\"\" rel=\"noopener\">disclosure from Tadawul<\/a> read yesterday, with shares allowed to move up or down 30% during the debut, as is customary with Nomy launches. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>The owner and operator of the Optimo and B-Fit fitness chains, Armah finalized the book-building process for its market debut strong demand, allowing it to price the IPO shares, which make up a 15% stake in the company, at SAR 28.00 a piece \u2014 comfortably at the top of the range that financial advisor Saudi Fransi had provided. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Saudi Fransi Capital is leading the transaction as financial advisor, lead manager, and bookrunner. Sate is legal counsel, PwC is financial due diligence advisor, while Baker Tilly is auditor, and Portas the market consultant, according to the <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/Resources\/IPO\/PDF\/IPO_ENG_2023-10-23_12-39-00_1.pdf\" style=\"\" rel=\"noopener\">company\u2019s prospectus (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>The parallel market has been on a tear this fall, seeing high demand from qualified investors for a run of IPOs. Yes, they\u2019re smaller. And yes, they\u2019re open only to qualified investors. But the thesis is that Nomu companies will learn the ins and outs of being a public institution as the best of them grow \u2014 and <strong>ultimately make the leap to the main market<\/strong>, as the parent company of homegrown burger chain <strong>Burgerizzr<\/strong> did last week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY ABROAD<\/strong>-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Charlie Munger, right-hand man of Warren Buffett, dies aged 99:<\/strong> Bn\u2019aire and market sage Charles Munger, who was second-in-command to business magnate Warren Buffett for almost 60 years, has died aged 99. Under their management of Berkshire Hathaway, the previously-failing textile company averaged an annual gain of 20% between 1965 and 2022 \u2014 roughly twice the pace of the S&P 500 Index \u2014 to become the multi-bn USD conglomerate that it is today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story has plenty of ink in the int\u2019l business press this morning:<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/obituary-charlie-munger-oracle-pasadena-who-was-buffetts-second-in-command-2023-11-28\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/charlie-munger-dead-warren-buffett-berkshire-hathaway-96b8e7a7b096339cb57ff72df915567a\" style=\"\" rel=\"noopener\">Associated<\/a><a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/charlie-munger-dead-warren-buffett-berkshire-hathaway-96b8e7a7b096339cb57ff72df915567a\" style=\"\" rel=\"noopener\">Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/investing\/charlie-munger-berkshire-hathaway-dead-74d476a8\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/11\/28\/charlie-munger-investing-sage-and-warren-buffetts-confidant-dies.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-28\/charles-munger-who-helped-buffett-build-berkshire-dies-at-99?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/66124b0c-3cd1-41d4-b0b2-c2f45f4cf196\" style=\"\" rel=\"noopener\">Financial Times<\/a>) <\/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.cnbc.com\/2023\/11\/28\/munger-in-final-interview-describes-how-he-and-buffett-turned-berkshire-hathaway-into-such-a-success.html\" style=\"\" rel=\"noopener\">Check out Munger\u2019s final interview<\/a><\/strong>, recorded with CNBC\u2019s Becky Quick just a couple of weeks ago. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE LATEST ON GAZA-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another batch of Palestinian and Israeli prisoners have been release <\/strong>as the truce enters the first of two extra days. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cabinet called again yesterday for a \u201ccomplete ceasefire\u201d <\/strong>and the establishment of an independent Palestinian state with Jerusalem as its capital, <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2416811\/saudi-arabia\" style=\"\" rel=\"noopener\">Arab News<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Joe Biden\u2019s administration seems more divided than ever over his full-throated <\/strong><strong>support for Israel\u2019s war in Gaza<\/strong>, with the New York Times that \u201csupporters\u201d and \u201ceven some staff members\u201d in the White House feel \u201c <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/11\/28\/us\/politics\/biden-israel-hamas-divisions.html\" style=\"\" rel=\"noopener\">deep anger over his solidarity with Israel<\/a>.\u201d The Financial Times, meanwhile, reports that <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/285e1f90-9f69-4f3b-b4a9-b77b6ca97e7a\" style=\"\" rel=\"noopener\">the CIA\u2019s associate deputy director for analysis<\/a> \u2014 one of the agency\u2019s top officials on the \u201cthink-and-make-sense-of-it\u201d side of the house \u2014 posted pro-Palestinian images on her Facebook page.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FINALLY- Rescuers have saved 41 construction workers trapped in a tunnel in <\/strong><strong>Uttarakhand <\/strong><strong>state<\/strong> \u2014 a beautiful end to a drama that has kept much of India glued to television screens since the men were trapped by a landslide on 12 November. Catch coverage in the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/india\/rescuers-free-workers-trapped-in-mountain-tunnel-in-indiafor-more-than-two-weeks-7b18c9e9\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> if only for the smiles as the come out. <\/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=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" 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>FAST FACT- The Northern Border Region is home to more than 25% of our mineral wealth<\/strong>\u2014 and could be worth north of SAR 1.2 tn at current market prices. Vice Minister of Industry and Mineral Resources for Mining Affairs Khalid Al-Mudaifer provided the estimate, noting that the Kingdom has invested some SAR 120 bn in infrastructure in the region to open it to the mining industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT- Our trade balance is at a five-month-high surplus: <\/strong>While the value of our exports remained unchanged at SAR 104 bn in September, imports fell to SAR 60 bn, down from SAR 70 bn in August, leading to a 29% m-o-m increase in surplus to SAR 44 bn, according to <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=f343333550&e=8e5fca127e\" style=\"\" rel=\"noopener\">General Authority for Statistics figures (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil cuts weigh heavily on exports \u2014 and the economy as a whole. <\/strong>The Kingdom\u2019s exports fell 17.1% y-o-y to SAR 103.8 bn in September 2023, down from SAR 125.3 bn in the same month last year. Oil exports declined 17.1% y-o-y to SAR 83.1 bn in September, while non-oil exports shrank 17.2% y-o-y to SAR 20.7 bn. <strong>The economy contracted 4.5% y-o-y in 3Q on the back of lower oil activity <\/strong>even as the private sector boom continued.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/redseafilmfest.com\/en\/\" style=\"\" rel=\"noopener\">Red Sea Film Festival<\/a><\/strong><strong> kicks off in Jeddah tomorrow <\/strong>(Thursday)and runs through Saturday, 9 December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also tomorrow: This year\u2019s Noor Riyadh festival begins<\/strong>, continuing until 16 December with an expanded roster of new and returning artists. More than 120 pieces from over 100 artists drawn from 35 countries around the world are set to participate. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.icao.int\/Meetings\/ICAN2023\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">International Conference on Air Services Negotiations (ICAN) 2023<\/a><\/strong><strong> will take place <\/strong><strong>from 3-7 December<\/strong>at the Hilton Riyadh Hotel and Residences. The General Authority for Civil Aviation is hosting the event as well as a networking platform for policy makers, regulators, air operators, service providers and other stakeholders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.visitsaudi.com\/en\/events\/king-abdulaziz-falconry-festival\" style=\"\" rel=\"noopener\">King Abdulaziz Falconry Festival<\/a><\/strong><strong>will run until Thursday, 14 December <\/strong>with the participation of elite falcon owners from all around the world.The competition currently holds the Guiness World Record for the biggest falconry competition in the world.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, wonderful people. We\u2019re going to kick off today with a nice run of five stories that should put a smile on even the grumpiest of faces on this fall morning. And if you\u2019re into air freight or air travel? Well, we\u2019ve got a packed news well just for you. #1- IT\u2019S OFFICIAL- We\u2019re [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2540],"tags":[10,486,457,485,2622,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82404","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-enterpriseam-ksa","tag-entrustment-and-liquidation-center","tag-expo-2030","tag-infath","tag-privatization","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"4b13fc30-624a-4fa9-9b4b-d12407c125f9","is_powered_by":false,"story_type":"4","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"Riyadh will play host to Expo2030 in latest boost to tourism dreams unthinkable just a few years ago","related_issue":[82402],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.38ec8d5e-2230-4762-ac8d-91d7a422206d.mp3"},"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>Riyadh will play host to Expo2030 in latest boost to tourism dreams unthinkable just a few years ago - 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\/2023\/11\/29\/riyadh-will-play-host-to-expo2030-in-latest-boost-to-tourism-dreams-unthinkable-just-a-few-years-ago\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Riyadh will play host to Expo2030 in latest boost to tourism dreams unthinkable just a few years ago\" \/>\n<meta property=\"og:description\" content=\"Good morning, wonderful people. 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