Hardening home front

1

WHAT WE’RE TRACKING TODAY

THIS MORNING: Aramco is eyeing more ways out of the Gulf

Good morning, ladies and gentlemen. The pattern across today’s issue is a system running below its own capacity and settling there. Exports have had their best month since the discussions began, but are still a long way from where they were in February. Costs on site look calm on average, while what contractors can’t get stays tight.

The construction index is worth reading twice for that reason. Nobody bids a fixed-price job out of a catalogue — it’s skilled crews, specialist subcontractors, and equipment ordered many months out, and a contractor cannot outbid a lead time. That pressure reaches Vision 2030 project schedules as slippage well before it reaches anyone’s cost line.

Meanwhile, Aramco crops up in more than one spot in today’s issue, with the oil giant’s East-West pipeline partially back online and its deliveries through ship-to-ship transfers likely getting a bit of a markdown for Asian buyers as freight costs soar.

We’re excited to welcome Karim Awad as a guest speaker at the 2026 EnterpriseAM Egypt Forum.

Karim Awad is group CEO, chairman of the executive committee, and a member of the board of directors of EFG Holding, a financial institution with a universal bank in Egypt and the leading investment bank in the Middle East and North Africa. With over 25 years at EFG Hermes, Awad rose from the Investment Banking division to CEO of the Investment Bank in 2012, then group CEO in 2013.

Under his leadership, EFG Holding has transformed into a MENA-focused financial solutions house, expanding across Egypt, the UAE, KSA, and Kuwait, building out structured products and non-bank financial services through EFG Finance, and completing its shift into a universal banking platform with the 2021 acquisition of Bank NXT. The firm's revenues reached EGP 26.0 bn and profits EGP 4.1 bn in 2025.

Awad has been ranked among the Forbes Middle East Top 100 CEOs for five consecutive years and serves on both the Egyptian President's Economic Council and the Prime Minister's Macroeconomy Advisory Committee.

Join us on 5 October in Cairo. Attendance is by invitation only, and we've reached full capacity.

Request your invitation here to join the waitlist.

More routes, more redundancy

Aramco is eyeing more ways out of the Gulf. The Saudi oil giant is studying a fourth and fifth crude-export corridors — on top of the three it already uses — as it looks to build more redundancy into its export system, CEO Amin Nasser told Nikkei Asia. Engineering and feasibility work is already underway, he says, without disclosing where the new routes would run or when they could come online. He also warned the disruption “is not really getting better,” with Aramco only supplying term-contract buyers and pumping well below pre-war levels.

Two of the three existing routes hang on one pipeline. The first runs through Hormuz, with crude loading at Ras Tanura and crossing on shuttle tankers for ship-to-ship transfer outside the Gulf. The other two start with the 7 mn bbl / d East-West pipeline to Yanbu, which restarted at reduced rates last week after being knocked offline by drone strikes. From there, cargoes either sail south through Bab Al Mandab or go north through Egypt’s 2.5 mn bbl / d Sumed pipeline to Sidi Kerir on the Mediterranean — the only route that avoids both chokepoints.

A full restart for the pipeline is still six to eight weeks out, but crude is moving through it again. Saudi Arabia has restarted crude exports through the repaired East-West line, and total flows through the pipeline are now around 3.5 mn bbl / d, people familiar with the matter told Bloomberg — a figure that covers both export cargoes and the roughly 2 mn bbl / d a day that typically feeds west-coast refineries. With Hormuz shipments also at a war-time high above 5 mn bbl / d this month, most bound for Asia, both of the Kingdom's main export arteries are moving crude again, easing a squeeze that had left some European buyers being told they would get no term-contract barrels next month.

More storage closer to buyers: Aramco is also looking to expand its crude storage overseas, including in Japan, as another buffer against disruptions. The company holds 5.3 mn barrels of crude at Knoc’s Ulsan facilities in South Korea under a five-year storage agreement, which it expanded in June, while Riyadh and Abu Dhabi have separately asked Tokyo to expand their Japan-based stockpiles roughly tenfold from 8 mn barrels. Aramco is also among the companies weighing bonded storage at Pakistan’s Karachi and Gwadar ports.

Seeking backup

Foreign Minister Prince Faisal bin Farhan arrived in Washington yesterday for talks with US Secretary of State Marco Rubio on regional and international developments and bilateral ties, SPA reports. The visit comes amid the escalating conflict between Riyadh and the Houthis. Saudi Arabia recently sought US support in the conflict, but Washington ruled out direct military intervention.

Riyadh casting a wider net on defense: Defense Minister Prince Khalid bin Salman and his Malaysian counterpart Mohamed Khaled Nordin discussed bilateral defense cooperation and regional developments during a phone call on Sunday.

REMEMBER- The Kingdom has been seeking the support of international powers to boost its defense capabilities amid its ongoing conflict with the Houthis. France has committed to sending troops, radar systems, and defense equipment to protect Yanbu, while the UK will contribute a single Royal Air Force Voyager to provide defensive air-to-air refueling for a limited period, expected to last several weeks.

In other diplomacy news: UAE Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan will visit the Kingdom today at the invitation of Defense Minister Khalid bin Salman, Emirati state news agency Wam reports. The purpose of the visit has not been disclosed.

Mixed-use ambitions in Makkah

More visibility on Makkah’s King Salman Gate: PIF subsidiary Rua Al Haram Al Makki is mulling a joint development with Malaysian Resources Corporation Berhad (MRCB) to build a SAR 21 bn transit-integrated, mixed-use destination within Makkah’s King Salman Gate, the company said in a press release. The agreement depends on approvals, financing, phased execution, and due diligence.

What does it entail? A collaboration agreement between the two parties includes exploring a framework to develop, finance, and execute the project. This project includes a public bus terminal, along with residential, commercial, retail, and other mixed-use components within King Salman Gate. This aims to streamline the movement of visitors, including pilgrims to Makkah.

A refresher: Crown Prince Mohammed bin Salman launched Makkah’s King Salman Gate project last October. Billed as a mixed-use development adjacent to the Grand Mosque, the 12 mn sqm project features residential, hospitality, commercial, and cultural spaces designed to elevate services for pilgrims and residents while accommodating up to 900k worshippers.

Data point

SAR 9.3 tn — that’s where Tadawul’s market capitalization stood at the end of last week, down SAR 8.9 bn week-on-week, Argaam reports, citing Tadawul data. Foreign investors held 4.7% of the market. Institutional ownership slipped SAR 2.75 bn to SAR 8.89 tn, and non-institutional ownership fell SAR 6.13 bn to SAR 410.31 bn.

***

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 MENA+, Egypt, the UAE, and the MENA logistics industry?

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

***

The big story abroad

A landmark Wall Street play is taking up space on the front pages. Nvidia raised its share buyback ‌authorization by a record USD 150 bn, surpassing Apple’s USD 110 bn move two years ago. The tech company expects to use its expanded USD 235 bn buyback authority through fiscal year 2028, wagering heavily on its own stock amid intense AI-chip competition.

Elsewhere in the AI world: Major global semiconductor and hardware player AMD will acquire AI startup World Labs for USD 8.2 bn in an all-stock transaction, taking over the San Francisco-based firm established by computer scientist and AI pioneer Fei-Fei Li. World Labs specializes in spatial-intelligence models that build and simulate interactive 3D environments directly from text, image, or video prompts.

AI safety fears have consequences: OpenAI has nixed the launch of the GPT-6.1 Astra model due to safety worries raised during internal testing, following months of widespread reports of AI systems going rogue. The model regressed in human alignment compared to its predecessor and deceived users by failing to accurately report its own actions.

Circle your calendar

Riyadh Energy Week will run from 11 to 15 October in Riyadh, bringing together more than 25k participants, including ministers, CEOs, and speakers, for high-level discussions on energy security, oil and gas markets, investment, and emerging energy technologies. The program will center on the 25th WPC Energy Congress, hosted by Saudi Arabia for the first time, alongside ministerial meetings and events focused on clean energy, AI, critical minerals, and the future energy mix.

Saudi Arabia is widening its defense network and leaning on diplomacy to defend its infrastructure

Every military commitment Saudi Arabia has secured in the past week is focused on keeping its infrastructure standing. This leaves Riyadh better defended at home but no closer to assembling a force to fight the Houthis in Yemen. What Saudi’s partners have agreed to supply limits what the country can bring to that fight.

REFRESHER- French President Emmanuel Macron said last week that France would send troops, radar systems, and defense equipment to protect Yanbu rather than engage in any conflict. The UK had said earlier that it would dispatch a single Royal Air Force Voyager to provide defensive air-to-air refueling. The foreign ministers of Saudi Arabia, Pakistan, and Turkey also met on Friday to arrange an urgent meeting of their military chiefs of staff under the Mecca Joint Defense Agreement.

The peg for all three is what the Houthis hit on Thursday. The militant group said it had struck Aramco facilities in Yanbu and a “sensitive target” in Riyadh, and Saudi forces said they intercepted six ballistic missiles, with the Yemeni coalition adding that it had thwarted attacks on Taif and Yanbu. Two more ballistic missiles and two drones were intercepted heading for Riyadh and Khamis Mushait on Saturday.

What the Mecca pact actually delivers

Activating the agreements with Turkey and Pakistan does not necessarily mean these countries would enter a ground war in Yemen, Political Science Professor Ismail Turki tells EnterpriseAM, though Riyadh could still seek their support. Activation could involve air defense, intelligence, military technology, infrastructure protection, training, and maritime security. That list is close to what Paris and London have put on the table.

Riyadh can protect its territory through air defense and intelligence, back Yemeni forces opposed to the Houthis, and apply measured military pressure, Turki tells us. An escalation into a large-scale operation involving ground intervention would not resolve the situation, he says, given a Yemeni geographic and military environment that can’t be tackled with missiles and drones alone, and would turn the conflict from a “limited security confrontation into a war of attrition.”

“I would not expect Riyadh to rush back into the kind of open-ended campaign it fought after 2015. The more probable approach is calibrated escalation, supporting Yemeni partners, and targeting immediate threats,” Director of the Political Studies Program at the Yemen and Gulf Center for Studies Mustafa Antar tells us.

That’s the opening the Houthis are relying on: “The Houthis are not simply seeking more territory; they are trying to change the balance of leverage,” Antar said. Their advance toward Mokha and Bab Al Mandab targets Saudi Red Sea shipping, with the continued attacks on the Kingdom’s territory increasing the cost of confronting them. The objective is to enter any future political or security arrangement from a stronger position.

The diplomatic track is running in parallel

A US-Houthi negotiation channel emerged through Omani mediation during the crisis, Turki says, which he reads as evidence that indirect communication survives the escalation. Washington doesn’t necessarily want to become a direct party in this war, however. It can support a future negotiation process while using its influence to pressure regional powers. Beijing has asked Tehran to rein in the Houthis after an appeal from Riyadh, and Pakistan has made the same request, warning that further escalation could push Islamabad to defend the Kingdom.

A settlement remains an economic priority in all scenarios: Saudi Arabia started rerouting oil exports through the Strait of Hormuz and has resumed partial flows through the East-West pipeline, but a prolonged conflict could drive up ins. and transportation costs, increase pressure on investment, and weigh on tourism, aviation, ports, logistics, and trade, Turki told us. “The longer the conflict lasts, the higher the cost of security, even if Saudi Arabia can maintain a large portion of its export flows.”

What’s next?

Saudi Arabia is expected to tackle this issue on three fronts, with diplomacy to lead the way. “The most important track over the medium term is returning to politics,” Turki said, and stressed that keeping the door open to negotiations will safeguard everyone’s security. The Kingdom is also expected to exercise moderated retaliation, while reshaping its approach to regional security by creating a safety net through its defense pact, alongside Egyptian, GCC, and international cooperation.

Aramco weighs discounts on Oman ship-to-ship crude as exports climb

Middle East crude exports are on track for their strongest month since the disruptions began. Seven major producers are set to ship 12.8 mn bbl / d in September, led by Saudi Arabia and the UAE, Reuters reports, citing Kpler data. Despite the uptick, that is still some 6 mn bbl / d below February levels.

By the barrel: Saudi exports are on track for 5.4 mn bbl / d, while an earlier Kpler reading put UAE shipments at 3.2 mn bbl / d by mid-September. Iraq’s Oil Ministry put its own September export average at 2.6 mn bbl / d, while Kuwait was exporting around 1 mn bbl / d in early September.

Most of these barrels change hands at sea: Producer-operated and other risk-tolerant tankers take crude through Hormuz, and buyers pick it up in ship-to-ship transfers off Fujairah and Sohar. The UAE, Qatar, Iraq, and Kuwait have all offered crude for collection outside the strait. Saudi started leaning on shuttling after its East-West pipeline was targeted and temporarily closed. Last week, 19 Saudi supertankers carrying some 2 mn barrels each left the strait, and shipments from Ras Tanura on the east coast have jumped to c. 3.6 mn bbl / d from 929k bbl / d.

Why it matters: A transfer off Oman now takes nearly 10 days, and freight costs are climbing. About 7.4 mn bbl / d of crude is set to pass through Hormuz this month, according to Kpler, and the offshore handoff is running out of room. Saudi Arabia's extra volumes, on top of transfers by other producers, have left tankers waiting for tugboats and transfer crews. Transfers used to take five to seven days, and the extra shuttle trips are tying up supertankers that would otherwise be available for charter.

In a bid to offset those freight costs, Aramco is reportedly considering discounts of about USD 9 / bbl for crude loaded off Oman, Reuters reports, citing sources familiar with the matter. The firm could apply them to cargoes offered this week for loading in the second half of October. This move follows recent Aramco sales at premiums of USD 10-20 / bbl for loading off Oman.

The price reductions could be an attempt by the oil giant to rebuild market share lost after Hormuz disruptions. The Kingdom previously adjusted its pricing terms before the East-West pipeline damage to allow Asian buyers to cope with such costs, giving them the option to price crude against the official selling price for the month of arrival rather than loading.

Crude exports through the Strait of Hormuz are expected to average about 7.4 mn barrels per day this month, preliminary Kpler data showed, after Saudi Arabia redirected supplies from Yanbu following damage to its East-West pipeline. Aramco has already sold 60 mn barrels from Ras Tanura for ship-to-ship transfer off Sohar, Oman this month and the next, lifting the company’s Gulf exports back to 1-1.5 mn bbl / d, in line with or slightly above August.

Saudi construction cost growth held in August, with labor and operated machinery the hottest lines

Saudi construction cost growth held steady in August, though the underlying pressure is uneven. The construction cost index rose 2.3% y-o-y and barely moved from July, according to recent data (pdf) from the General Authority for Statistics. Residential costs were up 2.1% and non-residential 2.6%, with the increases stacked in labor and equipment, while most materials held near 2%.

The strain is concentrated in specific inputs. Skilled labor, specialist subcontractors, working capital, and long-lead equipment are the main constraints for contractors, Adnan Jan, an independent executive advisor on strategy and commercial performance, tells EnterpriseAM. “I would describe the pressure as selective rather than across the whole market.”

The breakdown: On the residential side, increases are spread across labor and equipment, with wages up 5.1%, machinery hired with an operator up 5.6%, and bare rental up 4.1%. Non-residential is narrower and steeper on kit — operated machinery jumped 7.2% and rentals 5.8%, while labor there rose just 2%.

Materials were more contained. Basic materials costs rose just 1.8% in both segments, with metal products up 2% on the residential side and timber and joinery 2.1% on the non-residential side. Energy prices rose 3.0%.

And their delivery times improved in August. The risk that lingers sits in imported specialist equipment and materials, where the geopolitical backdrop has raised logistics and procurement risks, Jan says.

REMEMBER- Saudi contracting awards fell by half in value in August even as the project count rose. August awards totaled SAR 4.9 bn across 13 projects, down from July’s SAR 9.8 bn across 11.

SAR arranges Swiss-backed financing for 10 Stadler trains as it expands rail capacity

Saudi Arabia Railways (SAR) has lined up financing for 10 new Stadler passenger trains. The agreement, signed at InnoTrans in Berlin, brings in Swiss Export Risk Ins. (SERV) alongside KfW IPEX-Bank, Commerzbank, and UBS Switzerland to fund the purchase from the Swiss manufacturer, state news agency SPA reports. It builds on SAR’s 2024 Stadler contract and takes the total order to 20 trains, each with five cars and 302 seats.

The combined order will lift the Eastern line’s fleet to 31 from 11 and capacity to about 6 mn seats, SAR spokesperson Khalid Al Farhan told Asharq Business. The first batch arrives in 2028 and enters service in 2029, lifting capacity to 3.8 mn seats on the Riyadh-Hofuf-Dammam route.

SAR’s Berlin orders covered freight too. It bought 33 freight locomotives from US firm Progress Rail and 782 freight cars from Greenbrier to expand its cargo network.

REMEMBER- SAR opened a tender for 10 new trains to triple passenger capacity on its 2.7k km Northern line to more than 2.4 mn seats. Spain’s Talgo, meanwhile, is supplying 20 high-speed trains under a EUR 1.3 bn order that will lift annual capacity on the Makkah-Madinah network by 60% to 30 mn seats when they enter service in 2029.

SMC’s third Riyadh hospital gets a builder

Specialized Medical Company (SMC) has awarded Mahart Al Injaz Contracting a SAR 148.5 mn contract for the foundation, structural, and construction works of SMC 3 Hospital in Riyadh, Argaam reports. The 360-day job begins on site handover. The hospital, on the Northern Ring Road, will have 296 beds, 200 outpatient clinics, and a helipad, with completion due in 4Q 2028.

Erad’s SME lender pulls in USD 22 mn Series A

Riyadh-based SME financing platform (Erad) has raised a USD 22 mn Series A, led by Middle East Venture Partners (MEVP), the company said in a press release. New backers SVC, 500 Global, S60 Ventures, ANB Capital, Conjunction Capital, and Araya Ventures came in, with existing investors including Khwarizmi, Nuwa Capital, and Aljazira Capital.

The use of proceeds: Erad will spend the round building financing products for capital-intensive sectors such as industrial, logistics, manufacturing, as well as hiring across the region.

The pitch is speed: Erad, founded in 2022 by Salem Abu-Hammour, Faris Yaghmour, Abdulmalik Almeheini, and Youssef Said, offers shariah-compliant working capital of up to SAR 10 mn across Saudi and the UAE. Erad uses AI underwriting to approve financing within 48 hours. It has deployed more than SAR 500 mn (USD 133 mn) to SMEs so far, against over SAR 4 bn (USD 1 bn) in financing requests.

Are 2007-level bond yields here to stay?

The return of sovereign bond yields to 2007 levels could be here to stay as investors continue to shun longer-dated paper amid stubborn fiscal deficits and sticky inflation, compounded by a Big Tech borrowing boom crowding the market, according to Bloomberg. The average yield on sovereign debt globally has now hit 4%, a level last seen in 2007.

A worldwide issue: Last month the yield on the 30-year US Treasury reached its highest level since 2007, before a continued sell-off then pushed borrowing costs for the same dated debt to peaks not seen since the middle of 2004. The 10-year Treasury has also broken above 5%, its highest in almost two decades, even after Treasury Secretary Scott Bessent expanded buybacks of long-dated debt in August to cool what he called a “fever” in the market. The first tranche came in smaller than expected. Elsewhere, Japan’s 10-year yield crossed 3% for the first time since 1996 earlier this month, and UK 10-year gilts hit their highest level since mid-2007.

Why the safe haven has lost its shine: Long-dated bonds are the most exposed to inflation and rising rates, since both eat into the real value of coupons and principal over a longer stretch of time. That risk is now live: the Fed raised rates this month for the first time in three years, and a majority of FOMC members projected another hike this year. As a result, the term premium investors demand to hold 30-year US debt is up more than 3 percentage points from its 2020 low, according to a Bloomberg Economics model.

More supply, fewer buyers: Governments are borrowing more to fund everything from defense to the energy transition. The US alone carries over USD 40 tn in debt, and the CBO expects its annual deficit to reach USD 2.1 tn. At the same time, central banks are shrinking their bond holdings, foreign appetite has weakened, and changes to pension systems have thinned the pool of traditional long-term buyers. The debt is increasingly held by more price-sensitive private investors, who want to be paid more to lock their money up for decades.

Big Tech is crowding in too: Governments are also competing with hyperscalers borrowing to fund the AI buildout. Notable transactions this year include USD 37 bn from Amazon and USD 25 bn from Meta. JPMorgan estimated in June that AI-linked debt financing could reach USD 4.1 tn by 2030, with some USD 2.1 tn in data center financing coming from high-grade bonds.

The playbook — and its risks: Many debt offices are tilting issuance toward shorter maturities where yields are lower. The OECD flagged this trend earlier this year, warning that many countries are rebalancing their issuance toward shorter maturities to limit exposure to higher long-term borrowing costs, although this increases refinancing risks. The lasting fix is convincing investors that inflation and deficits are under control, which likely means unpopular tax hikes or spending cuts.

What it means for the Gulf: Gulf borrowers are being squeezed from two sides. Regional USD bonds and sukuk are priced as a spread over US Treasuries, so when Treasury yields climb, Gulf debt gets more expensive too — and those spreads have widened since the war started as well. Abu Dhabi’s 10-year yield rose to around 5.2% by late August from roughly 4.5% in January, while UAE corporate spreads were wider than at the war’s March peak. That makes the Gulf an outlier, as EM debt has otherwise held up well during the selloff. Saudi paper faces an extra supply problem of its own, with heavy issuance from the government, Aramco, and PIF weighing on its long-dated bonds. Some analysts think the problem is mostly geopolitical risk, while Franklin Templeton’s Mohieddine Kronfol says it’s largely a Treasury story.

Not all bad news: Savers benefit, and some analysts argue the moves reflect a resilient economy returning to pre-crisis norms, after the financial crisis pushed yields to near zero. As Wells Fargo economists put it, the better description is “normal for longer.”

MARKETS THIS MORNING-

Asian markets were in the red in early trading, with Japan’s Nikkei down 0.9% and South Korea’s Kospi down 0.8%. The performance tracked overnight losses seen across Wall Street and led by Nasdaq.

TASI	10,579	-1.0% (YTD: +0.8%)
MSCI Tadawul 30	1,425	-0.9% (YTD: +2.8%)
NomuC	21,460	-0.4% (YTD: -7.9%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.25% repo	3.75% reverse repo
EGX30	52,469	-1.1% (YTD: +25.4%)
ADX	10,159	-0.4% (YTD: +1.7%)
DFM	5,998	+0.3% (YTD: -0.8%)
S&P 500	7,684	-0.8% (YTD: +12.2%)
FTSE 100	10,685	-0.1% (YTD: +7.6%)
Euro Stoxx 50	6,301	+0.0% (YTD: +8.7%)
Brent crude	USD 105.28	+0.9%
Natural gas (Nymex)	USD 3.14	+1.2%
Gold	USD 4,155	-0.3%
BTC	USD 83,458	-1.2% (YTD: -4.7%)
Sukuk/bond market index	891.85	-0.2% (YTD: -3.0%)
S&P MENA bond & sukuk	147.61	-0.3% (YTD: -2.8%)
VIX (Fear gauge)	16.07	+8.1% (YTD: +7.5%)

THE CLOSING BELL: TADAWUL-

The TASI fell 1.0% yesterday on turnover of SAR 3.5 bn. The index is up 0.8% YTD.

In the green: Al Kathiri Holding (+6.5%), Salama Cooperative Insurance (+6.3%), and Alramz Real Estate (+3.8%).

In the red: Saudi Fisheries Company (-7.9%), Rasan Information Technology (-5.4%), and Arabian Company for Agricultural and Industrial Investment (-5.2%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.4% yesterday on turnover of SAR 9.1 mn. The index is down 7.9% YTD.

In the green: Itmam Consultancy (+8.0%), Knowledge Tower (+6.3%), and Mobi Industrial (+5.6%).

In the red: National Building and Marketing Company (-10.8%), Taqat (-10.4%), and Naf Company for Feed for Industry (-9.4%).

CORPORATE ACTIONS-

Tabuk Agriculture shareholders approved an 80.5% capital cut. The company will reduce capital to SAR 76.5 mn from SAR 391.8 mn by canceling 31.5 mn shares — one for every 1.24 held — to restructure its capital and write off accumulated losses, Argaam reported, citing a Tadawul filing. Trading was suspended for two sessions from yesterday and resumes at the close today.

Cenomi Centers’ shareholders have approved an 8.98% capital increase, looking to boost capital to SAR 5.2 bn from SAR 4.8 bn through 39.6 mn bonus shares and 3.1 mn shares for a planned employee share program, per a Tadawul filing. The bonus issue, one share for every 12 held, makes up 8.33% of the increase, with the employee program making up the remaining 0.65%.

Al Kathiri Holding has filed to cut its capital by 91.46%. The company asked the Capital Market Authority to approve a reduction to SAR 9.7 mn from SAR 113 mn, canceling 206.7 mn shares to restructure its capital and write off accumulated losses. It still needs regulatory and shareholder approval.

CALENDAR

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

OCTOBER

11-15 October (Sunday-Thursday): Riyadh Energy Week, Riyadh Front Exhibition & Conference Center, Riyadh.

21 October - 30 December (Wednesday-Wednesday): Riyadh Season, Riyadh.

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.

29 November-1 December (Sunday-Tuesday): The Global Logistics Forum, King Abdulaziz International Convention Centre, 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