{"id":83738,"date":"2024-02-26T00:00:00","date_gmt":"2024-02-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/26\/sama-governor-al-sayari-to-meet-us-treasury-secretary-janet-yellen-in-brazil\/"},"modified":"2024-02-26T00:00:00","modified_gmt":"2024-02-26T00:00:00","slug":"sama-governor-al-sayari-to-meet-us-treasury-secretary-janet-yellen-in-brazil","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/26\/sama-governor-al-sayari-to-meet-us-treasury-secretary-janet-yellen-in-brazil\/","title":{"rendered":"SAMA governor Al-Sayari to meet US Treasury Secretary Janet Yellen in Brazil"},"content":{"rendered":"<p style=\"padding: 0px; margin: 0px; line-height: 1.15; orphans: 2; widows: 2; text-align: left;\"><strong style=\"background-color: transparent;\">Good morning, wonderful people. <\/strong><span style=\"background-color: transparent;\">It\u2019s a brisk but unremarkable morning for business news \u2014 and we expect three big international meetings to drive the news agenda over the next 24-48 hours.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">We\u2019re also looking forward to Avalon Pharma\u2019s Tadawul debut tomorrow<\/strong><span style=\"background-color: transparent;\"> as bankers wrap the exchange\u2019s second big share sale of the year, and we\u2019re looking forward to seeing how Amiantit\u2019s tradable rights issue goes \u2014 it also kicks off tomorrow.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Things happening today <\/strong><span style=\"background-color: transparent;\">on which we expect to be reporting back to you tomorrow morning:<\/span><\/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- Saudi Central Bank (SAMA) Governor Ayman Al-Sayari will meet with US Treasury <\/strong><strong>Secretary Janet Yellen in Brazil<\/strong>, where they\u2019re attending a meeting of their Group of 20 counterparts, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/russian-assets-urgent-spotlight-yellen-heads-g20-meeting-2024-02-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- The UN World Trade Organization is hosting its once-every-two-years ministerial in <\/strong><strong>Abu Dhabi. <\/strong>Ministers will tackle everything from e-commerce and the WTO\u2019s dispute resolution system to rules on e-commerce and trade in agriculture. The gathering runs through Thursday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of Thursday: It\u2019s a leap year. <\/strong>February has 29 days this year, making it a perfect time to <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=HrlQBsd8LsE&amp;t=28s\" style=\"\" rel=\"noopener\">watch this sappy classic<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Egypt, Qatar to host two rounds of ceasefire talks:<\/strong> Cairo and Doha will host the latest round of talks for a truce in the Gaza Strip and the exchange of captives, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/549rp8yc\" style=\"\" rel=\"noopener\">Al Qahera News<\/a> reports, citing an unnamed Egyptian official.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The \u201cbasic contours\u201d of a hostage and ceasefire agreement have already been <\/strong><strong><a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/02\/25\/us\/white-house-hamas-hostage-negotiation\/index.html\" style=\"\" rel=\"noopener\">agreed<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/02\/25\/us\/white-house-hamas-hostage-negotiation\/index.html\" style=\"\" rel=\"noopener\">upon<\/a><\/strong>during recent negotiations and an agreement could be reached \u201cin the coming days,\u201d US National Security Advisor Jake Sullivan <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/02\/25\/us\/white-house-hamas-hostage-negotiation\/index.html\" style=\"\" rel=\"noopener\">said<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Two weeks from today and it\u2019s Ramadan.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So, when do we eat? <\/strong>Maghreb is at 6:01pm on the first day of Ramadan. We\u2019ll have until 4:47am to sort out sohour before fajr prayers. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER<\/strong><strong>- It\u2019s shaping up to be a sunny day in Riyadh and Madinah <\/strong>with some scattered clouds in Makkah. <\/p>\n<ul>\n<li><strong>Riyadh:<\/strong> 23\u00b0C daytime \/ 12\u00b0C overnight<\/li>\n<li><strong>Makkah:<\/strong> 34\u00b0C daytime \/ 20\u00b0C overnight<\/li>\n<li><strong>Madinha:<\/strong> 28\u00b0C daytime \/ 15\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\"><a id=\"wwtt3\"><\/a> <strong>#1- The Public Investment Fund wants to ramp up its assets under management <\/strong><strong>overseas to make it account for 20-25%<\/strong> of its total assets, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/ar\/article\/articledetail\/id\/1707769\" style=\"\" rel=\"noopener\">Argaam<\/a> reported yesterday, citing statements by fund governor Yasir Al Rumayyan at the FII Priority conference in Miami last week. Al Rumayyan said the PIF\u2019s assets abroad currently account for less than 25% of the fund\u2019s total assets, adding that more than 70% of its AUM were local investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>The General Authority for Competition<\/strong><strong> (GAC) has reportedly handed retailer Panda an <\/strong><strong>SAR 400k fine for violating the Competition Law<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4251686\/%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D9%85%D9%86%D8%A7%D9%81%D8%B3%D8%A9-%D8%AA%D8%BA%D8%B1%D9%85-%D8%B4%D8%B1%D9%83%D8%AA%D9%8A%D9%86-%D9%84%D8%A5%D8%AA%D9%85%D8%A7%D9%85%D9%87%D9%85%D8%A7-%D8%B9%D9%85%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D8%AA%D8%B1%D9%83%D8%B2-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A-%D8%AF%D9%88%D9%86-%D8%A5%D8%A8%D9%84%D8%A7%D8%BA%D9%87%D8%A7\/\" style=\"\" rel=\"noopener\">Mubasher<\/a> reported yesterday, citing a statement by the competition watchdog. The information service writes that the authority found Panda had failed to file notice that it planned to acquire an IT services firm. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the law says: <\/strong>Article 7 of the <a target=\"_blank\" href=\"https:\/\/beta.gac.gov.sa\/APIGateway\/api\/Attachment\/ShowAttachment\/8a4d249f-8dbd-46d8-8a87-50db526ff209\" style=\"\" rel=\"noopener\">Competition Law<\/a> stipulates that parties \u201cseeking to join an economic concentration transaction\u201d notify GAC at least 90 days prior to its completion. The stipulation is invoked, according to article 12, if one of the parties to the transaction has total sales above SAR 100 mn per year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3- Our friends at <\/strong><strong><a target=\"_blank\" href=\"https:\/\/vms.sa\/\" style=\"\" rel=\"noopener\">Value Makers Studio (VMS)<\/a><\/strong><strong> and MENA and Africa edtech platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/eyouthlearning.com\/\" style=\"\" rel=\"noopener\">EYouth<\/a><\/strong><strong> have launched a program to boost entrepreneurship in the Kingdom<\/strong>, they <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/2420.pdf\" style=\"\" rel=\"noopener\">said (pdf)<\/a> yesterday. The three-month Saudipreneur program, which VMS and EYouth say is the largest of its kind here, includes entrepreneurship training, mentoring and guidance sessions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4-<\/strong><strong> Investment management firm <\/strong><strong>Musharaka Capital<\/strong><strong> is eyeing the launch of 13 real estate <\/strong><strong>funds this year <\/strong>through a private placement, Managing Director Ibrahim Alassaf told <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1707746\" style=\"\" rel=\"noopener\">Argaam<\/a> in an interview yesterday. The funds will focus on real estate in Riyadh, he said. Alassaf also said that his firm plans to increase the value of its assets under management by 50% this year from last year\u2019s SAR 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 class=\"tag-border-left\">BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a (fairly typical) slow Monday in the global business press. <\/strong>A rebound in (developed market) <strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b6d89def-aea4-4790-9ff5-cddf32f3b36c\" style=\"\" rel=\"noopener\">housing prices<\/a><\/strong> leads the front page of the Financial Times, while the Wall Street Journal has split its focus, writing that <strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/trump-tightens-hold-on-gop-crowding-out-even-popular-rivals-93810b3a?mod=hp_lead_pos7\" style=\"\" rel=\"noopener\">Donald Trump<\/a><\/strong> is \u201con the brink of securing\u201d the Republican nomination and that <strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/ai\/how-a-shifting-ai-chip-market-will-shape-nvidias-future-f0c256b1?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Nvidia<\/a><\/strong> is on the cusp of entering a new, much larger market \u2014 with significantly more competition. Reuters also has <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/how-trump-defeated-nikki-haley-her-home-state-south-carolina-2024-02-25\/\" style=\"\" rel=\"noopener\">Trump<\/a> on its mind, while Bloomberg can\u2019t really decide what\u2019s news, leading the homepage with a spot report on the <strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-25\/latest-oil-market-news-and-analysis-for-feb-26?srnd=premium-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">price of oil<\/a><\/strong>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For our fellow tech nerds: <\/strong>Lenovo earlier this morning showed off a prototype of a laptop with <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/02\/25\/chinas-lenovo-shows-off-a-laptop-with-a-see-through-screen.html\" style=\"\" rel=\"noopener\">a see-through screen and a no-key keyboard<\/a> (ugh), while <a target=\"_blank\" href=\"https:\/\/www.macrumors.com\/2024\/02\/23\/what-to-expect-at-apple-event-march-2024\/\" style=\"\" rel=\"noopener\">Apple is said to be preparing for a March event<\/a>. Look for the tech giant to unveil its first iPad Pro redesign in years, a new iPad Pro keyboard that looks more Mac-like, and MacBook Airs with M3 processors. <\/p>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/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:\/\/humancapabilityinitiative.org\/en\/\" style=\"\" rel=\"noopener\">Human Capability Initiative<\/a><\/strong><strong> will open on Wednesday, 28 February <\/strong><strong>in Riyadh.<\/strong> It wraps on Thursday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh will host the <\/strong><strong>International Conference on Sand and Dust Storms in the Arabian <\/strong><strong>Peninsula<\/strong>from Monday, 4 March to Wednesday, 6 March. The conference will address regional challenges caused by sand and dust storms and discuss monitoring systems, mitigation strategies, economic and infrastructural impacts, and more. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tickets are on sale for the 2024 Saudi Arabian Grand Prix<\/strong>, scheduled for Jeddah from 7-9 March. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh will host a World Economic Forum <\/strong>special meeting on 28-29 April.<\/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>Plus: Value Makers Studio to launch \u201cSaudipreneur\u201d program<\/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":[154,1093,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83738","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-pif","tag-saudi-arabia-monetary-authority","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"ebead455-1924-420e-90e0-a2b52d287ea4","is_powered_by":false,"story_type":"4","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: SAMA governor Al-Sayari to meet US Treasury Secretary Janet Yellen in Brazil","related_issue":[83736],"teaser":"Plus: Value Makers Studio to launch \u201cSaudipreneur\u201d program","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.5ef0c014-044e-4920-a299-aefe1ad7f474.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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