{"id":93052,"date":"2025-01-05T00:00:00","date_gmt":"2025-01-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/05\/riyadh-metro-line-3-is-coming-online-today\/"},"modified":"2025-01-05T00:00:00","modified_gmt":"2025-01-05T00:00:00","slug":"riyadh-metro-line-3-is-coming-online-today","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/05\/riyadh-metro-line-3-is-coming-online-today\/","title":{"rendered":"Riyadh Metro Line 3 is coming online today"},"content":{"rendered":"

Good morning, wonderful people, and welcome to 2025.<\/strong> Our first issue in the new year is jam-packed, leading with a fresh price hike on diesel from Aramco, following a similar move last January. We also have the latest unemployment data from Gastat, as well as updates on two big M&A transactions. Let\u2019s jump right in.<\/p>\n

HAPPENING TODAY-<\/p>\n

<\/a> Riyadh Metro\u2019s Line 3 (Al Madinah Al Munawwarah) \u2014 the final link in the network \u2014 is <\/strong>set to welcome its first passengers in just a few hours,<\/strong> bringing the total number of operating metro lines to six. This milestone follows a successful pilot<\/a> earlier in December, which introduced three of the network\u2019s six lines, followed by the launch of Lines 2 and 5 mid-month. <\/p>\n

ICMYI- <\/strong>Riyadh Metro will offer rides at no charge in neighborhoods that are within a 5 km radius from metro stations starting next month. The \u201cFirst and Last Mile\u201d service will be without charge for the first six months and half-priced for the following six months. A tender will be issued to select transport companies to operate the service.<\/p>\n

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WEATHER- Riyadh <\/strong>is bracing for a wet week as the National Center of Meteorology forecasts moderate to heavy rain across much of the Kingdom through to Wednesday. The showers will bring in strong winds, stirring up dust and dirt with chances of hail, high coastal waves, and even flash floods in some areas. <\/p>\n

Tabuk and Madinah are in for a soaking today and tomorrow<\/strong>, while Al Jouf and the Northern Borders will see rain starting tonight until Tuesday. <\/p>\n

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HAPPENING TOMORROW-<\/p>\n

<\/a> The <\/strong>EA Sports FC Italian Supercup<\/a><\/strong> final brings a Milan derby to Al Awwal Park in Riyadh <\/strong>tomorrow, <\/strong>as AC Milan faces Inter Milan. AC Milan secured the spot with a 2-1 victory over Juventus, according to a press release (pdf)<\/a>. This marks the fifth time the tournament is hosted in Saudi Arabia, with Inter Milan vying for a third consecutive title in the Derby della Madonnina.<\/p>\n

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PSAs- <\/p>\n

<\/a> The <\/strong>first <\/strong>phase of implementing unified charging ports for mobile phones (USB<\/strong> Type-C <\/strong>ports) and electronic devices commenced with the start of the new year<\/strong>, after new regulations were rolled out in October<\/a>. <\/p>\n

What to expect:<\/strong> Starting this month, phase 1 of the initiative mandates the use of USB Type-C for devices such as phones, tablets, digital cameras, e-readers, portable game consoles, headphones, earphones, portable speakers, keyboards, computer mice, navigation systems, and wireless routers. Phase 2 will extend this requirement to laptops beginning 1 April, 2026.<\/p>\n

CAPITAL MARKETS-<\/p>\n

Tadawul nixes Azm Saudi + Obeikan Glass main market requests:<\/strong> The Saudi Exchange rejected the separate bids of Azm Saudi Telecom and Obeikan Glass to move to the main market from Tadawul\u2019s parallel market Nomu, after they both failed to meet the required transition conditions, according to two separate statements here<\/a> and here<\/a>. <\/p>\n

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WATCH THIS SPACE-<\/p>\n

<\/a> #1- US State Department clears USD 78.5 mn torpedo sale to Saudi: <\/strong>The US State Department approved a potential foreign military sale to Saudi Arabia, valued at USD 78.5 mn, for 20 lightweight torpedoes and related support, according to a statement<\/a>. The sale includes spare parts, training, support equipment, and logistics services, with RTX Integrated Defense Systems as the principal contractor.<\/p>\n

#2- <\/strong>Vision Bank kicks off experimental phase:<\/strong> Vision Bank<\/a>, formerly known as Saudi Digital Bank, lined up the Saudi Central Bank\u2019s (Sama) no-objection to roll out its pilot phase, it said in a post on X<\/a>. The digital bank is now offering a limited range of services including murabaha deposits, bank cards, transfers, and bill payments to a select customer base. <\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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***<\/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

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\n

THE BIG STORY ABROAD- <\/p>\n

As is often the case, Donald Trump is once again topping much of the international press<\/strong> this morning<\/strong>, with news out that the president-elect will be sentenced on 10 January on charges that he allegedly paid hush money to a [redacted] star. However, the incoming decision \u2014 pencilled in for just ten days before he is set to take his place at the Oval Office \u2014 will not lead to Trump facing jail time, the judge overseeing the case signalled. (Financial Times<\/a> | Reuters<\/a>)<\/p>\n

Our corner of the world is also continuing to rank highly on the world\u2019s digital front pages <\/strong>amid Israel\u2019s unrelenting assault on Gaza<\/strong>, with at least 70 killed since Friday by strikes on the besieged enclave. The escalation comes as another round of ceasefire talks mediated by Qatari and Egyptian officials take place in Qatar. (Reuters<\/a>)<\/p>\n

Despite talk of restraint, the Biden administration provisionally approved a USD 8 bn <\/strong>weapons sale to Israel<\/strong>, which includes precision-guided missiles, artillery shells, and air-to-air missiles. (Wall Street Journal<\/a> | Financial Times<\/a>)<\/p>\n

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CIRCLE YOUR CALENDAR-<\/p>\n

#1- The three-day <\/strong>Future Minerals Forum<\/a><\/strong> kicks off on 14 January at Riyadh\u2019s King <\/strong>Abdulaziz International Conference Center.<\/strong><\/p>\n

#2- The three-day <\/strong>Real Estate Future Forum<\/a><\/strong> kicks off on 27 January at the Four Seasons<\/strong>, Riyadh. <\/p>\n

#3- <\/strong>LEAP 2025<\/a><\/strong> will take place between 9-12 February at the Riyadh Exhibition &<\/strong> Convention Center in Malham. <\/strong>The tech event will bring together over 1.8k global tech brands, 1k experts and some 680 startups. LEAP 2025 will feature over 300 hours of content across 17 tracks, covering AI, fintech, edtech, smart cities, and more. Co-located with LEAP is <\/strong>DeepFest<\/a><\/strong>, a major AI-focused event bringing thought leaders and innovators under one roof.<\/p>\n

#4- The eight-day <\/strong>Big 5 Construct Saudi<\/a><\/strong> will take place from 15-18 February and 24-27<\/strong> February<\/strong> at the Riyadh Front Exhibition & Conference Center. The Kingdom\u2019s largest construction event will feature over 2k exhibitors from more than 60 countries, showcasing innovations across the sector. The event is expected to attract over 75k participants.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: US State Department clears USD 78.5 mn torpedo sale to Saudi<\/p>\n","protected":false},"author":1,"featured_media":93053,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","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":[19,10,565,8,51,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-banking","tag-enterpriseam-ksa","tag-saudi-us-relations","tag-sports","tag-transport","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"a32e4612-b296-4b21-969e-222e2cf7ac3b","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/1\/1304.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: Riyadh Metro Line 3 is coming online today","related_issue":[93050],"teaser":"PLUS: US State Department clears USD 78.5 mn torpedo sale to Saudi","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.b115bf61-e4f3-4972-b451-32ef0c07477d.mp3"},"yoast_head":"\nRiyadh Metro Line 3 is coming online today - 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