Aramco beats consensus on record earnings

1

WHAT WE’RE TRACKING TODAY

Another Saudi airport under attack

Good morning, ladies and gents. It’s earnings-heavy this morning, and Aramco’s 2Q is the standout, posting the kind of quarter that only a war can produce. It saw record realized crude prices, its highest net income in three years, and a beat on consensus, even as it sold a quarter less oil. We also unpack 2Q results from Saudi Energy and a batch of insurers and healthcare providers, plus a July PMI that held above 53 for a fourth straight month of non-oil growth.

WAR WATCH- Houthis target another airport?

Yemen’s Houthis said on Telegram they hit a “Saudi target” at Najran airport in response to what they claim were Saudi drone incursions over Saada and Hijaz, Reuters reports. Regional sources say operations were suspended at the airport following the attack. Government sources haven’t confirmed the news yet.

REMEMBER- The Iran-backed group fired on Abha airports in mid-July and said days later it would impose a blockade on Saudi-linked vessels crossing Bab Al Mandab.

Saudi is not diving headfirst into the conflict. Despite limited strikes against Yemeni targets, the Kingdom is reportedly still trying to find a diplomatic solution, holding indirect talks with the Houthis through Omani mediators, Bloomberg reports, citing anonymous sources. The Houthis want more economic concessions from Riyadh, while the latter maintains military preparations and keeps offensive options on the table should diplomacy fail, the sources said.

KSA et al pushed Opec output higher in July

Opec’s crude oil production rose by around 1.2 mn bbl / day last month, rising to an average of 19.4 mn bbl / day with almost all of the extra output coming from Saudi Arabia, Kuwait, and Iraq, according to a Bloomberg survey. Survey data shows the Kingdom’s production rose 390k bbl / d to 7.4 mn bbl / d, remaining mns of barrels below pre-conflict levels.

ICYMI: Saudi exported around 4.2 mn bbl / d in July, down 460k barrels m-o-m, but factoring in trapped Gulf cargoes shrinks the drop to just 230k.

Data point

SAR 27 mn — that’s the average cost of data breaches for organizations in Saudi Arabia, according to IBM’s 2026 Cost of a Data Breach Report. Financial institutions incurred the highest average losses at SAR 38 mn, followed by industrial companies (SAR 35.4 mn), and technology firms (SAR 33 mn).

***

You’re reading EnterpriseAM Saudi, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We’re out Sunday through Thursday by 7am Riyadh time.

EnterpriseAM Saudi is available without charge thanks to the generous support of our friends at Tas’heel and Hassan Allam Properties.

Want to send us a story idea, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on [email protected].

DID YOU KNOW that we also cover Egypt, the UAE, the MENA logistics industry, and the MENA <> India corridor?

Were you forwarded this email? Tap or click here to get your own copy of EnterpriseAM Saudi delivered every weekday.

***

The big story abroad

The regional war is on the front pages once again, with US Treasury Secretary Scott Bessent saying that the US and Iran could reach an agreement to open the Strait of Hormuz today. The proposed arrangement would allow freedom of movement in the waterway, Bessent said.

Speaking of Washington, the Trump administration has shelled out some USD 100 bn in tariff refunds since the Supreme Court said that it did not have the authority to use emergency powers to place levies on US trading partners. The figure paid represents 60% of the levies associated with US President Donald Trump’s Liberation Day tariff frenzy announced last year.

AI models by OpenAI and Anthropic are in hot water once again, after reportedly taking unauthorized online actions and attempting to deploy harmful code — the latest breaches raising concerns that developers cannot fully control their AI systems. The UK government’s AI Security Institute reported that one model attempted to add harmful code to an open-source software project on cloud-based hosting service Github.

Procter & Gamble has acquired supplement maker Thorne for USD 3.8 bn, expanding the firm’s foothold in a business that has been on the upswing since the Covid-19 pandemic. P&G aims to fortify its position in premium wellness, noting that consumer interest in self-care, prevention, and wellness is widening. The allcash bid will close by 4Q.

Aramco posts highest net income since 2022 on war premium it doesn't control

Aramco posted its strongest quarter since 2022 and beat every analyst on the tape. The company pumped a quarter less oil than a year ago but sold it amid a war that has stripped supply from the market and lifted its average realized crude price to USD 108.1 a barrel.

The headline carries two different numbers. Reported net income for 2Q rose 44% y-o-y to SAR 122.6 bn (USD 32.7 bn), according to Aramco’s press release (pdf). Meanwhile, adjusted net income, the figure Aramco and the sell-side track, rose 33% to USD 33.4 bn, ahead of some USD 31.6 bn consensus. Realized crude averaged USD 108.1 a barrel, up about 62% y-o-y and carrying a record premium of over USD 10 a barrel to Brent. This price surge was enough to more than offset a production decline to 9.5 mn barrels of oil equivalent per day, down from 12.8 mn bbl / d a year earlier.

Why it matters: The windfall is the standout in an otherwise strained fiscal picture. Oil revenue to the government rose 22% in 2Q to nearly USD 50 bn, cutting the quarterly budget deficit to about USD 9.1 bn — the smallest in nearly two years. That comes against an economy in its sharpest contraction since the pandemic, with GDP down 4.8% y-o-y in 2Q. Aramco is underwriting a budget that its own war premium is helping to rescue, even as the same war shrinks the surrounding economy.

Downstream did the heavy lifting on margins. With Strait of Hormuz traffic down to roughly a tenth of pre-conflict levels, Aramco has leaned on its East-West pipeline to move crude to Yanbu on the Red Sea, sustaining exports it says are running near 5 mn bbl / d. Downstream adjusted EBIT roughly doubled y-o-y to USD 6.2 bn on refining margins the company expects to stay elevated through 2H.

Cashflow tells a subtler story. Freecashflow fell 19% y-o-y to USD 12.3 bn, dragged by a USD 13.6 bn working-capital build that CFO Ziad Al Murshed attributed to a timing lag in the government’s domestic price-equalization payments, which is expected to reverse in 3Q. Strip that out and free cashflow was USD 25.9 bn, up 42%. Gearing — a measure of indebtedness — rose to 6.2% at 30 June from 4.8% three months earlier, still the lowest among the majors on Aramco’s own peer comparison. The board held the base dividend at USD 21.9 bn (SAR 82.1 bn), up 3.5% y-o-y, payable 27 August.

What's next?

The workaround is now under fire. The Red Sea route that made the quarter possible is itself contested. The Iran-aligned Houthis declared a blockade on Saudi vessels transiting the Red Sea on 20 July and have claimed attacks on several ships since. Late in the month the militant group struck Aramco sites at Jazan and Yanbu. Nasser said the attacks had no material impact, and Aramco confirmed some facilities were targeted without lasting effect.

The fallback if Bab Al Mandab closes is thinner: The Sumed line through Egypt moves 2.5 mn bbl / d against the pipeline’s 7 mn bbl / d, and routing Asia cargoes around Africa adds 20 to 25 days. The Saudi Defense Ministry said last week it is forming a coalition to protect Red Sea shipping.

ALSO- The premium may not last. US Treasury Secretary Scott Bessent told CNBC an agreement to reopen Hormuz with “freedom of movement” could land within a day or two, sending US crude down about 3%. Nasser is making the opposite case, arguing that even if Hormuz opened today, it would take up to 18 months at 2.1 mn bbl / d to rebuild depleted inventories, keeping demand and prices firm into 2027.

BACKGROUND- This is the third quarter Aramco has reported since Hormuz traffic collapsed after US and Israeli strikes on Iran on 28 February. It has kept projects moving through the disruption, with the Zuluf crude increment and Fadhili gas expansion on track for 2026 and 2027, alongside an agreed sale of its stake in Malaysian JV PRefChem. It also maintained 2026 capex guidance at USD 50-55 bn.

What to watch: whether a Hormuz agreement holds this time. A 17 June MoU to reopen the strait collapsed within weeks over which routes ships could use. If a durable reopening of Hormuz and Bab Al Mandab compresses the war premium, Aramco’s next results could look very different. A tighter Bab Al Mandab makes the export math harder before it gets easier. Aramco reports 3Q on 3 November.

Saudi PMI eases to 53.1 in July but keeps up fourth straight months of expansion

Saudi Arabia’s Purchasing Managers’ Index (PMI) held its ground in July, dropping marginally to 53.1 from 53.3 in June and marking a fourth straight month of expansion, according to Riyad Bank Saudi Arabia’s latest report (pdf). While the reading stayed comfortably above the neutral 50.0 mark — thanks to rising output and new orders due to recovering spending levels — high freight costs and the renewed conflict kept the index below its long-term historical average of 56.8.

Don’t overthink the dip. “I wouldn’t read too much into a small move. The main takeaway is that the PMI continues to indicate solid expansion in the non-oil economy, albeit at a lower level than before the war.” Khalij Economics Director Justin Alexander tells EnterpriseAM. MT Trading Senior Economist Ahmad Chreim agrees, calling it “a natural moderation rather than a loss of momentum.”

Domestic demand sustained output and new orders growth, though the pace cooled. Around 19% of firms reported higher activity in July against just 4% posting declines, with growth pinned to rising new business volumes and the ongoing normalization of conditions after regional conflict disruptions. Still, the uplift in new orders eased from June and stayed mild by historical standards.

The global market again offered little help: Foreign orders contracted for the fifth month running, with firms citing elevated freight charges and competitive pressures — though the rate of decline eased to its softest in the current sequence.

Supply chains kept improving, with delivery times shortening for the third straight month and at the quickest pace since February. Firms credited better vendor responsiveness and a shift toward local sourcing. Backlogs of work fell at the fastest rate since April 2025, a sign of spare capacity building in the sector.

MEANWHILE- Cost pressures stayed elevated but showed signs of easing. Input costs rose at their slowest pace in four months, though the rate remained sharp by historical standards, with regional tensions still feeding into raw material costs and transport fees. Staff costs also climbed at their fastest in five months as firms adjusted salaries. Those pressures fed through to output prices, which rose sharply but a touch slower than in June.

Confidence slipped from June’s five-month high. Just 8% of non-oil private sector firms expect output to grow over the year ahead. Concerns about regional tensions and greater competition tempered expansion plans, the report noted.

Riyad Bank’s outlook, however, remains positive. “The sustained expansion in domestic demand, resilient business activity and improving supply side conditions reinforce our expectation that Saudi Arabia’s non-oil economy will maintain solid growth momentum through the second half of the year,” Naif Al Ghaith, the bank’s chief economist, said in the report.

EA takeover crosses finish line

A consortium led by the Public Investment Fund has acquired Electronic Arts (EA) for USD 55 bn, closing the chapter on the largest leveraged buyout in history, according to a press release. The consortium is composed of Silver Lake and Jared Kushner’s Affinity Partners.

Last update: The news comes days after the European Commission approved the acquisition under the bloc’s Foreign Subsidies Regulation, and one week after the consortium clinched EU merger clearance.

“Entertainment and sports are key areas of strategic focus for PIF, and are among the fastest growing and evolving sectors around the world. Together, the consortium is uniquely positioned to be a long-term partner to EA’s management team in driving sustained growth and innovation for EA and the industry,” Deputy Governor and Head of International Investments at PIF Turqi Alnowaiser said.

A long time coming: The consortium agreed to take EA private back in September 2025 in a leveraged buyout backed by some USD 36.4 bn in equity, USD 20 bn in fully underwritten debt, and PIF rolling over an existing 9.9% stake. Shareholders approved the move in December. In March, JPMorgan issued USD 15 bn of the debt — drawing over USD 50 bn in orders — after a bondholder challenge failed.

Advisors: JP Morgan Securities served as the consortium’s financial advisor and Kirkland & Ellis LLP served as counsel for the consortium. As for EA, Goldman Sachs was financial advisor and Wachtell, Lipton, Rosen & Katz served as legal counsel.

Saudi Energy, Al Rajhi Takaful, Dallah Healthcare, and more post 2Q 2026 earnings

Bigger grid, higher costs for Saudi Energy

Saudi Energy’s net income slipped 7.4% y-o-y to SAR 4.9 bn in 2Q 2026, even as revenue rose 11.3% y-o-y to SAR 30.9 bn on grid expansion, energy-cost pass-through, and substation and transmission project work, it said in a Tadawul filing. The same grid expansion that lifted revenue also drove up operations, maintenance, and borrowing costs, outweighing the gains.

Finance costs may stay elevated after the company secured a SAR 15.8 bn Murabaha facility in late July.

The half-year results held up better: Net income rose 7.5% y-o-y to SAR 6.7 bn in 1H on revenue of SAR 52.2 bn, up 10.5% y-o-y, as higher generation volumes and improved collections supported earnings.

Higher claims weigh on Al Rajhi Takaful

Al Rajhi Company for Cooperative Ins. (Al Rajhi Takaful) posted a 15.4% y-o-y drop in net income to SAR 94.3 mn in 2Q 2026, according to a Tadawul disclosure. Ins. revenue, meanwhile, rose 11% y-o-y to SAR 1.5 bn, driven by its medical and motor segments.

Weaker underwriting caused the disparity. Ins. services swung to a SAR 219.8 mn loss from a SAR 217.6 mn gain a year earlier, driven by higher general ins. claims and weaker protection-and-savings revenue. Higher investment income, up 62% y-o-y, partly offset the hit.

The half-year read was more positive, with net income up 2.7% y-o-y to SAR 207.8 mn on ins. revenue of SAR 3 bn, up 17.4% y-o-y.

Medgulf back in the black

The Mediterranean and Gulf Ins. and Reins. Company (Medgulf) reversed its losses in 2Q, swinging to a SAR 44.2 mn net income from a SAR 1.5 mn loss a year earlier, according to a Tadawul disclosure. Ins. revenue also rose 28.1% y-o-y to SAR 1.3 bn, driven by growth in the medical and motor lines.

Both sides of the business pulled the right way. Underwriting strengthened, with ins. services results up 27.3% y-o-y on better motor and property-and-casualty performance and net investment income rising to SAR 22 mn from SAR 3.4 mn on higher dividend and commission income. Gross written premiums nearly tripled y-o-y to SAR 1.3 bn.

On a 1H basis, net income jumped 342.6% y-o-y to SAR 80.4 mn, while ins. revenue increased 26.6% to SAR 2.6 bn.

The balance sheet is in better shape too: After shareholder approval in late June, Medgulf cleared its SAR 77.8 mn accumulated losses by offsetting them against its share premium account.

Acquisitions lift, one-offs dent Dallah Healthcare

Dallah Healthcare saw its net income fall 19.5% y-o-y to SAR 100 mn in 2Q 2026, the company said in a Tadawul disclosure. Revenue, however, rose 4.3% y-o-y to SAR 1.1 bn, thanks to an 8.9% rise in patient visits across the group’s hospitals and medical centers.

Behind the numbers: The drop was mostly driven by one-offs. Excluding non-recurring items, net income increased 3.2% y-o-y to SAR 115.3 mn as the prior-year quarter benefited from a SAR 12.5 mn zakat-provision reversal, while 2Q 2026 absorbed SAR 15.3 mn in Hajj-related operating costs. Meanwhile, underlying operations stayed solid, with last year’s acquisitions of Dallah Al Khobar Hospital and Dallah Al Ahsa Hospital seeing a 22.5% increase in revenue, partly offset by higher financing costs on acquisition debt.

In the first half, net income fell 34.1% to SAR 184.5 mn, weighed by similar one-offs, while revenue rose 11.9% y-o-y to SAR 2.12 bn on a 17.2% uptick in visits.

What’s next? Dallah received SAR 466.7 mn in July from selling its stake in Dr. Mohammed Rashed Al Faqih Company and plans to put most of it toward paying down debt.

Dividends: Dallah Healthcare approved a SAR 50.4 mn dividend payout for 2Q, equivalent to SAR 0.50 per share. Distribution is set for 27 August.

Acute care and leaner costs fuel SMC Healthcare

Specialized Medical Company’s (SMC Healthcare) net income grew four times faster than revenue, rising 24.2% y-o-y to SAR 45.2 mn. Revenue increased 5.7% to SAR 401.3 mn on higher outpatient and inpatient volumes.

Margins expanded as costs fell: Net margin widened to 11.3% from 9.6% a year earlier as clinics opened in 2025 matured, the care mix shifted toward higher-margin acute services, and G&A, marketing, and finance costs all came down.

The pattern persisted across 1H, with net income up 17.8% y-o-y to SAR 77.7 mn and revenue rising 4.5% to SAR 782 mn.

Rime raises seed round, five-year pipe duties, Riyadh Air expands Asia network

Rime bags over USD 2 mn in seed round

Saudi-based AI startup Rime secured over USD 2 mn in a seed funding round led by Seedra Ventures, with participation from Athlah Investment, Unity Invest Partners, and several angel investors, according to a press release. The company previously ran a pre-seed round also led by Seedra.

Where will the money go? The funding will support Rime’s expansion in Saudi Arabia, accelerate development of its proprietary technology platform, and enable enterprises to build scalable AI applications.

About the company: Founded in 2024 by Mohammed Almarshidi (LinkedIn) and Arif Alotaibi (LinkedIn), the company provides AI tools for businesses operating physical sites, using cameras and sensors to analyze activity and make real-time decisions. Its platform is used across 2k sites in the GCC, mainly by retail and service companies, to improve operations and reduce losses.

Saudi imposes five-year pipe duties

Five-year trade measure: Saudi Arabia imposed final anti-dumping duties ranging from 16.96% to 29.94% on imports of ductile cast iron pipes from India. The five-year measures (pdf) took effect on 4 August.

Infrastructure focus: The measures cover ductile iron pipes with diameters from 100 mm to 1k mm and technical classes from K9 and C Class to C40, used in water distribution, stormwater drainage, wastewater, irrigation, and firefighting networks.

Industry reaction: Saudi Arabian Amiantit expects the decision to have “a positive impact on the company's sales of [ductile iron pipes] during the coming periods.”

Industry protection: This decision follows the conclusion of an anti-dumping investigation launched last year following a complaint filed by the local industry.

Riyadh Air expands Asia network

Riyadh Air is expanding its Asian destinations following yesterday’s inaugural flight to Mumbai, with daily services from Riyadh to Islamabad set to begin on 14 August, Lahore on 18 August, and Manila on 9 September, state news agency SPA reports.

REMEMBER- Riyadh Air has added more routes, including Kuala Lumpur, Madrid, Malaga, Dubai, and Cairo, to support its goal of serving more than 100 destinations by 2030.

Sabic completes ETP business sale

Non-core exit: Saudi Basic Industry Corporation (Sabic) completed the divestment of its Engineering Thermoplastics (ETP) business in the Americas and Europe to Mutares after fulfilling the closing conditions, including regulatory approvals and carve-out activities, it said in a Tadawul filing.

Why it matters: The sale advances Sabic’s portfolio overhaul by shedding a loss-making business that incurred operating losses of SAR 1.9 bn in 2025 and SAR 648 mn in 1H 2026. The company expects the divestment to cut losses, lift returns on capital, and enhance long-term shareholder value.

SpaceX sees revenue almost double in 2Q

SpaceX’s 2Q earnings (pdf) have rocketed past analysts’ expectations, as revenues rose 92% y-o-y, reaching USD 7.8 bn, clearing the expected threshold of USD 6.8 bn. The firm’s net loss narrowed to approximately USD 541 mn, recovering from USD 1 bn in the previous quarter and comfortably beating expectations of a USD 2.1 bn loss.

SpaceX’s largest business segment, Starlink connectivity, generated USD 4.3 bn in revenues, a 66% y-o-y jump, and is the firm’s only segment whose operating income is in the green. Subscribers to the service doubled to 12 mn in 2Q.

On the AI front: Although SpaceX’s AI segment is still developing, its revenues more than tripled from a year earlier to reach roughly USD 2.6 bn — on the back of agreements to lease data center capacity to the likes of Anthropic and Google. It acquired Elon Musk’s AI startup xAI in February, and has spent USD 15.8 bn in capital expenditure to build up its AI segment in 2Q — around 86% of total capex spent.

As for the final frontier… The firm’s space segment brought in USD 962 mn in topline, a 29% y-o-y increase, and reported a loss of USD 542 mn. Capex spending for the segment amounted to around USD 1.2 bn.

A stock market reckoning: Since its blockbuster USD 1.75 tn IPO in June, SpaceX’s stock has slipped 8% and could face further downward pressure starting tomorrow, when its post-IPO lockup period expires. This could potentially flood the market with insider and early-investor stock.

What’s next? SpaceX CEO Elon Musk claimed that progress is being made on his company’s first generation of orbital data centers, confirming on an earnings call yesterday that they are set for launch next year. Meanwhile, SpaceX continues to train its latest series of Grok AI models on SpaceX data, which Musk says will give his firm’s tools the upper hand in engineering, alongside the development of multiple GWs of fresh computing capacity.

MARKETS THIS MORNING-

Asian equities rose this morning on growing optimism over an expected US-Iran agreement following comments from Treasury Secretary Scott Bessent. South Korea’s Kospi is up 3.8%, while Japan’s Nikkei gained around 3.2%.

TASI	10,858	+0.3% (YTD: +3.5%)
MSCI Tadawul 30	1,454	+0.3% (YTD: +4.8%)
NomuC	22,159	+1.1% (YTD: -4.9%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.25% repo	3.75% reverse repo
EGX30	54,502	+0.8% (YTD: +30.3%)
ADX	10,102	+1.6% (YTD: +1.1%)
DFM	5,986	+1.8% (YTD: -1.0%)
S&P 500	7,737	+1.8% (YTD: +13.0%)
FTSE 100	10,879	+0.2% (YTD: +9.6%)
Euro Stoxx 50	6,487	+0.9% (YTD: +11.9%)
Brent crude	USD 79.77	+0.5%
Natural gas (Nymex)	USD 2.70	+0.5%
Gold	USD 4,140	-0.3%
BTC	USD 64,007	+1.1% (YTD: -26.9%)
Sukuk/bond market index	908.38	+0.3% (YTD: -1.2%)
S&P MENA Bond & Sukuk	150.57	+0.3% (YTD: -0.9%)
VIX (Volatility Index)	16.50	+4.0% (YTD: +10.4%)

THE CLOSING BELL: TADAWUL-

The TASI rose 0.3 yesterday on turnover of SAR 6.0 bn. The index is up 3.5% YTD.

In the green: Aslak (+9.9%), MedGulf (+9.0%), and Saudi Printing and Packaging (+6.9%).

In the red: Al Etihad Cooperative Ins. (-7.7%), Dallah Healthcare (-5.8%), and Mutakamela Ins. (-4.5%).

THE CLOSING BELL: NOMU-

The NomuC rose 1.1% yesterday on turnover of SAR 19.5 mn. The index is down 4.9% YTD.

In the green: Saudi Top (+15.9%), Sure Global Tech (+12.5%), and Mayar Holding (+11.4%).

In the red: Amwaj International (-10.0%), Taqat Mineral Trading (-7.4%), and Miral Dental Clinics (-5.1%).

CALENDAR

AUGUST

30 August-1 September (Sunday-Tuesday): Saudi Paper and Packaging Expo, Riyadh International Convention & Exhibition Center.

31 August-3 September (Monday-Thursday): Leap Tech Conference, Riyadh Exhibition & Convention Center - Malham.

SEPTEMBER

8-10 September (Tuesday-Thursday): The WTM Spotlight Riyadh, Riyadh Front Exhibition & Conference Center (RFECC), Riyadh.

15-17 September (Tuesday-Thursday) The Global AI Summit, King Abdulaziz International Convention Center, Riyadh.

23 September (Wednesday): Saudi National Day.

28 September-1 October (Monday-Thursday): The International Conference on Theory and Practice of Electronic Governance (ICEGOV), Prince Sultan University, Riyadh.

OCTOBER

25-26 October (Sunday-Monday): The Global Proptech Summit, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

26-28 October (Monday-Wednesday): ACHEMA Middle East, Riyadh International Convention & Exhibition Center.

26-29 October (Monday-Thursday): The Future Investment Initiative, King Abdulaziz International Conference Center, Riyadh.

28-29 October (Wednesday-Thursday): Procurement and Supply Chain Futures Forum, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

28-29 October (Wednesday-Thursday): Real Estate Supply Chain Forum, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

30 October-1 November (Friday-Sunday): The New Global Sport Conference, Sofitel Hotel & Convention Centre, Riyadh.

NOVEMBER

11-12 November (Wednesday-Thursday): Aluminum Arabia, The Arena, Riyadh.

16-19 November (Monday-Thursday): Cityscape Global, Riyadh Exhibition and Convention Centre (Malham), Riyadh.

29 November-1 December (Sunday-Tuesday): The UN Trade and Development Global Supply Chain Forum, Riyadh.

Signposted to happen sometime in 2026:

2H: Sabic’s USD 6.4 bn Fujian project in China to start production;
November: The Esports Nations Cup, Riyadh;
The World Economic Forum’s Global Collaboration and Growth Meeting, Jeddah;

2027

FEBRUARY

1-3 February (Monday-Wednesday): Energy Regulators Regional Association annual conference, Riyadh.

MARCH

21-25 March (Sunday-Thursday):The World Water Forum, Riyadh.

22–24 March (Monday-Wednesday): Capital Markets Forum, Four Seasons Hotel, Riyadh

APRIL

26-29 April (Monday-Thursday): World Energy Congress, Riyadh.

JUNE

1-3 June (Tuesday-Thursday): The Saudi Entertainment and Amusement Expo, Riyadh Front Exhibition and Conference Center.

Signposted to happen sometime in 2027:

The Ocean Race finishes in Amaala on the Red Sea;
Riyadh-Kudmi transmission line to be completed;
Aero Middle East and Sand & Fun takes place in Thumamah Airport, Riyadh.

Signposted to happen sometime in 2Q 2027:

The Hail Region Water Networks Project is expected to be completed.

Sections

About

Privacy & Support