{"id":95948,"date":"2025-04-13T00:00:00","date_gmt":"2025-04-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/04\/13\/sabics-net-income-projected-to-drop-in-1q-amid-wider-petrochem-slump-uaes-presight-plans-to-expand-into-the-kingdom-this-year\/"},"modified":"2025-04-13T00:00:00","modified_gmt":"2025-04-13T00:00:00","slug":"sabics-net-income-projected-to-drop-in-1q-amid-wider-petrochem-slump-uaes-presight-plans-to-expand-into-the-kingdom-this-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/04\/13\/sabics-net-income-projected-to-drop-in-1q-amid-wider-petrochem-slump-uaes-presight-plans-to-expand-into-the-kingdom-this-year\/","title":{"rendered":"Sabic\u2019s net income projected to drop in 1Q amid wider petrochem slump + UAE\u2019s Presight plans to expand into the Kingdom this year"},"content":{"rendered":"

Good morning. <\/strong>We are starting the week hot with a somewhat packed issue, as uncertainty continues to loom over local and international markets.<\/p>\n

The big stories today: <\/strong>Our budget deficit could hit USD 67 bn due to dropping oil prices, Goldman Sachs warned. Meanwhile, Tesla has officially landed in the Kingdom, set to face tough competition ahead from, BYD, Zeekr, and PIF-backed Lucid Motors, as the US-based automaker aims to escape problems at home.<\/p>\n

ALSO- <\/strong>The Service Equipment Company has set its IPO price range ahead of its Nomu listing, aiming to raise up to SAR 60 mn. We also have the latest industrial production data from Gastat, and the latest Construction Sector Overview report from the Saudi Contractors Authority. Let\u2019s dive in.<\/p>\n

NEWS TRIGGERS-<\/p>\n

Gastat set<\/strong> to roll out f<\/strong>resh inflation data:<\/strong> The General Authority for Statistics (Gastat) is scheduled to release the Consumer Price Index and Wholesale Price Index reports for the month of March on Tuesday.<\/p>\n

ON THE SAME DAY-<\/strong> The Real Estate Price Index for 1Q is also due to come out this Tuesday.<\/p>\n

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HAPPENING TODAY-<\/p>\n

The <\/strong>Human<\/a><\/strong>Capabilit<\/a><\/strong>y Initiative<\/a><\/strong> (HCI) Conference<\/strong> kicks off today at the <\/strong>King Abdulaziz <\/strong>International Conference Center, Riyadh.<\/strong> Over two days, 300 speakers and over 12k attendees from over 100 countries will host discussions about skills, education, work, and technology to improve human capabilities.<\/p>\n

Also under the HCI banner<\/strong>, the Education Global Exhibition<\/a> (EDGEx) runs until Wednesday, 16 April at the Ritz Carlton, Riyadh. This event will showcase cutting-edge innovations and offer workshops to empower individuals and organizations.<\/p>\n

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HAPPENING THIS WEEK-<\/p>\n

The <\/strong>2025 Middle E<\/a><\/strong>ast Poultry Expo<\/a><\/strong> returns to the Riyadh International Convention and <\/strong>Exhibition Center, running from Monday to Wednesday.<\/strong> The 15k sqm venue is gearing up to receive more than 320 exhibitors from over 40 countries, marking a significant growth compared to last year<\/a> \u2019s 207 exhibitors from 37 countries.<\/p>\n

The <\/strong>11th Saudi Film<\/a><\/strong>Festival<\/a><\/strong> will showcase 68 films from 17 to 23 April in Dhahran<\/strong>, including feature films, shorts, and documentaries from Saudi Arabia, the Gulf, and beyond. This year\u2019s edition honors actor Ibrahim Al-Hasawi and introduces new sections like screenings at the Energy Exhibit, a focus on Japanese cinema, and curated films from Clermont-Ferrand and Japan\u2019s Short Shorts Film Festival. The festival includes masterclasses, discussion panels, and a production market while streaming selected content online.<\/p>\n

The <\/strong>F1 stc<\/a><\/strong>Saudi Arabian Grand Prix 2025<\/a><\/strong> revs up thi<\/strong>s Friday, 18 April<\/strong>, at the Jeddah Corniche Circuit and wraps up the following Sunday. A friendly reminder that schools will be off<\/a> on 20-21 April in Jeddah, Makkah, and Taif as the race takes over the streets. You can grab your tickets here<\/a>.<\/p>\n

Support races and entertainment: <\/strong>The race weekend will also feature support races like the FIA Formula 2 Championship and the all-female F1 Academy Series, according to a schedule<\/a> from F1. Off track, expect performances<\/a> from Egyptian rapper Marwan Pablo in addition to Usher, Major Lazer Soundsystem, and Jennifer Lopez.<\/p>\n

WEATHER- <\/strong>Expect a cloudy day in Riyadh, while Makkah and Madinah will experience breezy conditions, with gusts picking up throughout the day.<\/p>\n