{"id":92550,"date":"2024-12-16T00:00:00","date_gmt":"2024-12-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/16\/saudi-arabia-railways-is-expanding-its-north-train-freight-line-at-a-cost-of-sar-5-bn\/"},"modified":"2024-12-16T00:00:00","modified_gmt":"2024-12-16T00:00:00","slug":"saudi-arabia-railways-is-expanding-its-north-train-freight-line-at-a-cost-of-sar-5-bn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/16\/saudi-arabia-railways-is-expanding-its-north-train-freight-line-at-a-cost-of-sar-5-bn\/","title":{"rendered":"Saudi Arabia Railways is expanding its North Train freight line at a cost of SAR 5 bn"},"content":{"rendered":"

Good morning, wonderful people<\/strong>, and happy Monday to you all. We have a favor to ask before we get underway this morning:<\/p>\n

Please forward this email to a friend. <\/strong>We\u2019re honoured that thousands and thousands of you are enjoying EnterpriseAM Saudi as part of your morning routine \u2014 and we want to meet more people just like you. It would be fantastic if you\u2019d forward this email to a friend, colleague, or family member and encourage them to sign up to get their own copy for free<\/a>.<\/p>\n

Have a comment, suggestion, or story tip? <\/strong>Reply to this email. We see every single one that comes in and appreciate ideas and constructive criticism more than you can possibly know. <\/p>\n

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SIGN OF THE TIMES? Shares of OQ Base Industries fell 3.6% in <\/strong>Oman yesterday, becoming the third regional IPO in a row to disappoint<\/strong> in their trading debut. Talabat\u2019s USD 2 bn IPO saw its shares on the Dubai Financial Market dip 7% on opening day, while shares of retailer Lulu closed flat in their first day on the ADX. <\/p>\n

Background: <\/strong>State-owned OQ sold a 49% stake in methanol producer OQ Base Industries in a transaction worth USD 489 mn before the start of trading, pricing the offering at the top of the range. <\/p>\n

Advisors:<\/strong> Morgan Stanley, Bank Dhofar and Bank Muscat quarterbacked the offering.<\/p>\n

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PLUS- It\u2019s interest rate week in the United States, with the Federal Reserve set to hold its <\/strong>final meeting of the year <\/strong>on Tuesday and Wednesday. The Bank of England the Bank of Japan will follow suit on Thursday. <\/p>\n

Expect the Fed to sound a note of caution. <\/strong>The expectation since Donald Trump cruised to victory last month is now for fewer rate cuts over a longer period of time. A quarter-point cut this week seems fairly likely (though less so than before US voters returned The Donald to office), but the swaps market is pricing in just 0.75 bps worth of cuts by next September, suggesting we could see as few as two 0.25 bps cuts next year. The FT<\/a> has more on what to expect from the three meetings.<\/p>\n

MACRO WATCH- <\/strong>The week will also bring inflation data from the EU, Britain, Canada, and Germany.<\/p>\n

HAPPENING TODAY-<\/p>\n

It\u2019s day two of the three-day <\/strong>International MICE Summit (IMS24)<\/a><\/strong> in Riyadh. <\/strong>Some 1k industry players from 70 countries are in town for the gathering.<\/p>\n

Brace for more traffic: 12 additional events are coming to Saudi next year<\/strong>, per announcements yesterday, including:<\/p>\n