Leap + Deepfest are setting up a tech-heavy week

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Leap, Deepfest and the EFG Hermes One on One set up a very busy week before Ramadan

Good morning, friends. Three big events are will drive the news agenda in this final workweek before the start of Ramadan. In Riyadh, you can expect things to be very tech heavy as Leap 2024 and Deepfest kick off tomorrow. Meanwhile, the world’s largest investor conference for frontier and emerging markets, the EFG Hermes One on One, opens in Dubai tomorrow.

Let’s jump right in.

HAPPENING TODAY-

The Gulf Cooperation Council (GCC) will hold a ministerial meeting in Riyadh today with a focus on ties between GCC countries and counterparts abroad and latest regional and international developments, it said in a statement last week. It will also separately hold separate ministerial meetings with the FMs of Egypt, Jordan and Morocco, according to the statement.

Expect Israel’s war in Gaza to be high on the agenda amid calls for airdops of aid and suggestions from Egypt’s foreign minister and the US president that there is a chance of a ceasefire by Ramadan.

WEATHER- Expect warming temperatures and scattered clouds in Riyadh and Jeddah today.

Riyadh: 28°C daytime / 12°C overnight
Jeddah: 30°C daytime / 26°C overnight
Dammam: 28°C daytime / 18°C overnight

HAPPENING TOMORROW-

Riyadh airspace is going to be crowded this week — and hotels impossible to book — as tech players from around the world fly in for Leap 2024,which kicks off at 10:30 am tomorrow at the Riyadh Exhibition and Convention Center.

The four-day event is expected to attract more than 1k top executives, investors and industry insiders. It will also provide a pitch and exhibition platform for 600 startups and 1.8k tech exhibitors. Investments worth USD 9 bn were announced during last year’s event, setting the stage for a promising meeting this year. As many as 172k visitors are expected to attend.

AI will take center stage:Deepfest — the AI-focused offshoot of LEAP — will be co-located with Leap and will feature speakers including the good people at Google as well as IBM, TiktTok, Zoom, NASA, and Meta to discuss how entrepreneurs can future-proof their business in an AI-first era, the rise of GenAI in content creation, the potential of the AI-powered metaverse, and the ethical frameworks for AI in media production.

The lineup for tomorrow will feature some of the biggest industry names including IBM Chairman Arvind Krishna, Zoom Video Communications CEO Eric Yuan and Google Managing Director for Global AI Caroline Yap. Sessions include panels and firechats to discuss everything from healthtech and space, to media, smart cities, 4IR, the creative economy, and startups.

Polish your 30-60 second elevator pitch if you’re looking to raise capital or find a strategic partner: Investors attending are from our friends at 500 Global as well as Impact46, Exits MENA, Raed Ventures, Clear Ventures, Elite Minds, Foundry Group, Devoteam, Green Sands Equity, along with sovereign investors from Serbia, Kenya and Pakistan.

WE HAVE AMBITIONS- CNBC picked up statements by RiseUp Saudi Co-Founder and CEO Princess Loulwa Al Saud on our ambition to become “the next Silicon Valley.” Princess Loulwa made the remarks at the Web Summit Qatar last week. “Saudi wants to be the next Silicon Valley, not only in the GCC, but in the world. We are trying as much as we can to invest and enhance the ecosystem as much as we can,” she said.

ALSO TOMORROW- The EFG Hermes One on One gets underway in Dubai. It’s the world’s largest investor conference for frontier and emerging markets and runs through Thursday.

The EFG Hermes One on One will see some 670 investors from 250 global institutions meet face-to-face with senior execs from more than 215 companies in industries spanning from food and fintech to banking and petrochemicals. Companies from 29 countries will be attending.

^^ We’ll have coverage of Leap and the One on One starting Tuesday and continuing into next week.

DATA POINTS-

#1- Some 450 foreign investors have obtained licenses to open their regional headquarters here, state news agency SPA reported last week, citing statements by Investment Minister Khaled Al Falih. He did not provide details about the companies setting regional HQs here.

Remember: The Kingdom had set a 1 January 2024 deadline for foreign firms to move their regional HQs here or run the risk of losing out on government contracts. The plan, a cornerstone of Crown Prince and Prime Minister Mohamed bn Salman’s drive to build a diversified, globally significant non-oil economy, has been in the works since February 2021.

#2- The Saudi Industrial Development Fund (SIDF) provided SAR 500 mn in financing last year to support projects in energy, mining and logistics, its spokesman Khalil Al Namari told Al Eqtisadiah on Friday. Small and medium-sized enterprises came in first in total loans provided by SIFD, up 13% last year from 8% a year earlier.

OIL WATCH-

#1- Aramco may tweak April crude prices to Asian customers from March on the back of a small uptick in Middle East benchmark prices, Reuters reported on Friday, citing trade sources. A survey of six refining sources sees Aramco maintaining the official selling price (OSP) of flagship Arab Light crude or making minor upward adjustments by USD 0.1-0.2 per barrel in April. A small bump in the Middle-East’s crude benchmark prices paired with a widening backwardation in the Dubai market structure could nudge April prices up

What the traders are saying: “The market structure and product cracks didn't change too much compared to last month, and I think now with Red Sea shipping still having uncertainty ... probably they will want to push the barrels to Asia,” a source said.

#2- Milan-based energy contractor Saipem is forecasting a 20% fall in average annual orders from Aramco until 2027 on the back of the oil giant’s decision to shelve plans of investment in new production capacity, Reuters reported last week, citing statements by CEO Alessandro Puliti during a post-results conference call. Saipem has annual average orders of c. EUR 1.5 bn from Aramco between 2021 and 2023. It signed a 12-year contract with Aramco in 2020 for onshore engineering and construction activities.

IN OTHER OIL NEWS- OPEC oil output saw a 90k barrels per day (bpd) uptick in February to 26.4 mn bpd on the back of a rebound in production by Libya, according to a Reuters survey.

WATCH THIS SPACE-

#1- Sparky the Sun Devil is coming to town: The investment and education ministries signed an MoU with Arizona State University and Cintana Education to set up an affiliated university and school in Riyadh, the Investment Ministry said in a post on X on Friday. The ministry did not provide further details on the agreement or its terms.

We knew this was in the works: Education Minister Yousef Al Benyan discussed with US officials opening a branch for the university in the Kingdom during a visit to Washington earlier this month.

#2- The Organisation of Islamic Cooperation (OIC) will hold an extraordinary meeting in Jeddah on Tuesday to discuss the ongoing crisis in Gaza, state news agency SPA reported on Friday. The meeting comes upon the invitation of the Kingdom, Palestine, Jordan and Iran.

SPORTS-

We’re one step closer to hosting the 2034 World Cup: The Kingdom has officially kicked off its bid to host the 2034 FIFA World Cup after it was confirmed as the sole bidder, a statement by the Saudi Arabian Football Federation (SAFF) read on Friday. The “Growing. Together.” campaign aims to “capture the parallel between Saudi Arabia’s rapid transformation and the positive impact hosting the tournament would have on both international football and FIFA’s flagship event”. A new unit dedicated to managing bid procedures in compliance with FIFA standards was also set up by SAFF. Find the full Saudi 2034 bid vision here.

REMEMBER- Saudi was confirmed in late October as the sole bidder for the 2034 FIFA World Cup after Australia said it would not be presenting a bid to host the tournament.

What’s next: SAFF will submit full bid documents to the world football governing body in July with an appointment on the hosts for both the 2030 and 2034 tournaments set to be confirmed at the Fifa Congress by the end of the year.

What they said: “Telling our football story to the world is of massive importance…We’ve made unprecedented progress in both the men’s and women’s game and our bid is an open invitation to the world to join us on this exciting journey,” SAFF President Yasser El Misehal said.

THE BIG STORY ABROAD-

In an otherwise quiet morning for business news, Elon Musk is once again in the headlines —and for once it’s not because of one of his social media posts. Three law firms that successfully argued on the behalf of shareholders that Tesla CEO Elon Musk’s USD 56 bn pay package was excessive are now seeking USD 6 bn in Tesla shares in legal fees. (Reuters | Financial Times | The Guardian | Wall Street Journal)

“We recognize that the requested fee is unprecedented in terms of absolute size,” the three law firms said in a filing.

ALSO FROM THE MUSKOSPHERE-Musk has filed a lawsuit against Microsoft-backed OpenAI and its CEO Sam Altman, accusing the company of abandoning its original purpose of developing artificial intelligence "for the broad benefit of humanity" and pursuing profit instead. (Reuters | Financial Times | Bloomberg | The Guardian)

CLOSER TO HOME- Rubymar, attacked by Houthis, sinks; sounds alarm on environmental crisis: Belize-flagged Rubymar which was carrying some 41k tons of fertilizers has sunk off the coast of Yemen few weeks after it was attacked by Houthi militants in February, Yemen’s state news agency Saba reported yesterday.

CIRCLE YOUR CALENDAR-

Tickets are on sale for the 2024 Saudi Arabian Grand Prix, scheduled for Jeddah from 7-9 March.

Riyadh will host a World Economic Forum special meeting on 28-29 April.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

Aramco wraps-up its acquisition of Chile’s Esmax

Aramco finalizes acquisition of Chile’s Esmax: Oil giant Aramco has completed its acquisition of a 100% equity stake in Chile’s fuel distributor Esmax Distribución, marking its entry into fuel retailing in South America, it said in a statement on Friday. The value of the transaction was not disclosed.

This has been brewing for months: Aramco had entered into an agreement in September with Latin America-focused private equity firm Southern Cross Group to buy Esmax.

A scale up + expansion of operations: The move supports Aramco’s global growth strategy and boosts its downstream value chain, it said earlier. It would also allow Aramco to unlock new markers for lubricants following a transaction that saw it acquire Valvoline’s lubricant business for USD 2.65 bn.

What they said: “Aramco aims to be a primary global retail player and this deal combines our high quality products and services, including Valvoline lubricants, with the experience and quality of an established operator in Chile,” Aramco’s VP of Products and Customers Yasser Mufti said.

About Esmax: Esmax is the third biggest fuel retailer in Chile with operations also in the industrial, aviation and lubricants businesses, according to Southern Cross Group. The retailer manages some 279 service stations and 130 convenience stores.

Acwa Power locks in SAR 2.8 bn worth of financing for UAE desalination planet

ACWA Power signs financing agreements for its solar-powered Hassyan desal plant: Renewable energy giant Acwa Power secured SAR 2.77 bn (USD 740 mn) from local and international lenders to fund the development and construction of its solar-powered Hassyan water desalination project in Dubai, according to a disclosure to Tadawul.

What we know: The agreements — which have a financing period of 32.5 years — come almost six months after Dubai Electricity and Water Authority (Dewa) tapped Acwa Power to construct and operate the AED 3.4 bn (USD 914 mn) solar-powered desalination project in Hassyan. ACWA Power has a 20.4% stake in the project, which is planned to produce 681.4k cbm of water per day.

The project company Hassyan Water Company signed the agreements with international lenders, UK’s Standard Chartered Bank, Korea Development Bank, Japan’s MUFG Bank and Sumitomo Mitsui Trust Bank, and China’s Industrial and Commercial Bank Of China and China Construction Bank. Other lenders include local export credit agency Saudi EXIM, Emirates NBD, Commercial Bank of Dubai, Abu Dhabi Commercial Bank, Arab Petroleum Investments Corporation, and Boubyan Bank.

REFRESHER- Dewa is buying water from the Hassyan plant: Dewa signed a 30-year water purchase agreement with ACWA Power to buy water from phase 1 of the desalination plant. Dewa will purchase the desalinated water at a price of around USD 0.365 per cbm — the lowest bid the UAE company received.

Fresh funding for New Murabba, billed as “world’s largest downtown” in Riyadh

TDF to partly bankroll the New Murabba downtown destination: PIF-owned New Murabba Development Company (NMDC) has inked an MoU with the Tourism Development Fund (TDF) for the development and financing of what they are billing as the “world’s largest downtown” in Riyadh, state news agency SPA reports. NMDC is chaired by Crown Prince and Prime Minister Mohammed bin Salman.

Financing: TDF will provide some financing under the new agreement along with its network of partners and contracted investors.

Background:The USD 50 bn 19 km downtown is anticipated to include over 104k residential units, 9k-keys hotel, and a range of supplementary amenities in the Northwest region of Riyadh, featuring a tech and design university, a museum, along with other cultural venues. The New Murabbah is a 20 minute drive from King Khalid International Airport.

A tourist, commercial, residential destination: The new destination is set to become a destination for residents, companies, leisure seekers, and tourists, said NMDC’s CEO Michael Dyke. “The Mukaab — a centerpiece iconic skyscraper — will, of course, serve as the centerpiece of New Murabba, redefining Riyadh’s skyline from the outside, which presents a truly jaw-dropping experience," Dyke added.

Looking forward: The new venture is expected to inject SAR 180 bn into the Kingdom's non-oil economy, while also generating 334k jobs by 2030.

Siemens inaugurates electric equipment factory in Jeddah

Siemens opened its new electrical equipment factory in Jeddah in partnership with Arabia Electric Equipment, Arab News reported last week. The factory spans 6k sqm and boasts a 120-person workforce.

The plant produces substation automation systems, communication and protection panels, as well as other products for the utility, oil and gas, infrastructure, and petrochemical industries. The facility will have an annual production capacity of 8k electrical panels and circuit breakers annually, Al Eqtisadiah reported, citing statements by Siemens CEO Ahmed Hawsawi said.

Hawsawi said the facility is designed to meet growing demand for energy solutions, adding that the facility will direct its output to the local market before exporting to neighboring countries in the future.

IN OTHER MANUFACTURING NEWS-

#1- Al Kathiri Holding has broken ground on a SAR 20 mn luxury yachts plant in the third industrial city in Jeddah through its subsidiary The Luxury Yacht of Industry, it said in a disclosure to Tadawul. The factory is expected to reach a maximum production capacity of 150 units by 4Q 2025, with commercial production slated for 2Q 2025. The company will self finance the project.

#2- Eastern Province Cement Company has contracted China’s Sinoma CDI for the construction of a replacement production line under a SAR 270.5 mn, 26-month agreement, it said in a regulatory filing to Tadawul. The line is expected to have a production

#3- Nomu-listed Saudi Lime Industries expects its production costs to surge 11% on the back of Aramco’s fuel hikes, it said in a disclosure to Tadawul last week. The limestone supplier said it would “explore ways to reduce the financial impact” from the hikes.capacity of 10k tons per day.

More details on the witnesses and whistleblowers protection law

We have more details on the witnesses and whistleblowers protection law: The Public Prosecution can provide protection for up to 30 days to witnesses, victims and whistleblowers if they were found in risk of an “imminent danger,” executive regulations of the witnesses and whistleblowers law published on official gazette Umm Al Qura showed on Friday. The law was approved by the Cabinet last month. The law will come into effect sometime in July.

Those included in the witness program would see authorities providing security protection as well as legal and psychological services. They would be allowed a temporary or permanent relocation from their workplace or provided help in finding an alternative job. Other protection measures include a change of place of residence or financial aid.

And voice-changing tech to protect their identities: Judicial authorities have the right to take “special measures” during court sessions to protect witnesses, whistleblowers and victims in case of danger. Those include using necessary technology to allow for testimonies without attending court sessions and the use of image and voice-changing technology if necessary.

Those threatening or blackmailing witnesses and whistleblowers would be at risk of jail terms of up to two years and a fine of up to SAR 300k. Those jeopardizing protection for individuals under the witness protection program could be handed jail terms of up to one year and a fine of up to SAR 200k.

A flurry of earnings news

ACWA POWER-

ACWA Power’s net income rose 8% y-o-y to SAR 1.7 bn in 2023, while revenues were up 15.5% y-o-y to SAR 6.1 bn, it said in a disclosure to Tadawul. The BoD of the energy giant has proposed a dividend payout of SAR 329 mn for 2023 at SAR 0.45 per share, it said in a separate disclosure. The board has also recommended the issuance of bonus shares by way of capitalizing SAR 14.6 mn from retained earnings, granting shareholders one share for every 500 shares owned, it said in a further disclosure.

NAQI WATER-

Naqi Water’s net income fell 11.8% y-o-y to SAR 43 mn in 2023, while revenues declined 16% y-o-y to SAR 239 mn over the same period, it said in a disclosure to Tadawul.

UMM AL-QURA CEMENT-

Umm Al-Qura Cement’s net income fell 83% y-o-y to SAR 4 mn in 2023, while revenues were down 23.6% y-o-y to SAR 169 mn, it said in a disclosure to Tadawul. The cement manufacturer’s BoD has decided not to distribute dividends for 2023 as it looks to consolidate its financial position, it said in a separate disclosure.

AL-RAJHI TAKAFUL-

Al-Rajhi Company for Cooperative Ins. net income increased 4.5x y-o-y to SAR 328 mn in 2023, while revenues were up 44% y-o-y to SAR 4.2 bn over the same period, it said in a disclosure to Tadawul.

ALSAIF GALLERY-

AlSaif Stores for Development and Investment’s net income fell 24% y-o-y to SAR 98.2 mn in 2023, while revenues were down 2.6% y-o-y to SAR 720 mn, it said in a disclosure to Tadawul.

OASIS-

Zahrat Al Waha for Trading’s net income rose 2x y-o-y to SAR 34 mn in 2023, while revenues were down 8% y-o-y to SAR 572.5 mn, it said in a disclosure to Tadawul. The plastic manufacturer’s BoD has proposed a dividend payout of SAR 30.4 mn for 2023 at SAR 1.35 per share, it said in a separate disclosure.

ASTRA INDUSTRIAL-

Astra Industrial Group’s net income remained basically unchanged at SAR 475 mn in 2023, despite a 10% increase in revenues to SAR 2.9 bn, it said in a disclosure to Tadawul.

Saudi’s 2034 Fifa World Cup is getting everyone talking

Surprising no one, the start of Saudi’s official bid to host the 2034 Fifa World Cup isdriving the conversation on Saudi in the foreign press. The news got ink from Reuters | The Associated Press | AFP | BBC. Meanwhile, an opinion piece in Bloomberg dove into the limits of Cristiano Ronaldo’s Saudi soccer saga.

Merck is the latest to move its regional headquarters to Riyadh. PLUS: Manufacturing, Telecoms, Healthcare, Tech

RELOCATION-

German pharma player Merck moves regional HQ to Riyadh: German drugs and chemicals group Merck Group opened its new regional headquarters in Riyadh as its Middle East and North Africa hub, state news agency SPA reported. Merck Group Managing Director Yaser Alhagan said the relocation aims to support its expansion strategy in the region.

ENTERTAINMENT-

Magic Land Al Hokair will invest EGP 1.1 bn to set up Egypt’s first and largest integrated entertainment project, according to a statement (pdf). The Tanza project, which spans 250k sqm in Egypt’s 6 October, will be home to seven entertainment zones with vast green spaces. It is being built with the Egyptian Media Production City (EMPC) on a usufruct basis. Magic Land Al Hokair is a Saudi-Egyptian company owned by local Al Hokair Group, EMPC and Egypt’s Al Kayan Developments. It was formed to renovate and operate the EMPC’s renowned Magic Land.

TELECOMS-

Telecoms operator STC has inked agreements with four global technology and smartphone companies as the PIF-backed giant looks to strengthen its position in the innovation front of the tech industry, it said in a press release. This was on the sidelines of the four-day Mobile World Congress in Barcelona which wrapped up on Thursday, 29 February.

The agreements in a nutshell: The MoUs will see STC work with IBM Middle East on upgrades for fault management systems, with China Mobile International on boosting IoT connectivity services in the region, with Huawei on accelerating growth in the devices business and with Samsung on upping their collaboration in sectors of consumer electronics and services.

HEALTHCARE-

Equipment House + Health Ministry: The healthcare provider has received approval from the Health Ministry for a six-months extension to the contract for equipment servicing of 5 hospitals in Jazan region, it said in a filing to Tadawul. This will add SAR 9 mn to the contract’s initial value of SAR 90 mn. The extension ends on Saturday, 31 August.

CHEMICALS-

Jubail Chemicals has amended its contract with a consortium made up of Green Dimension and Confident Engineering for the treatment of wastewater produced from its calcium chloride and epoxy resin factory, it said in a filing to Tadawul. The tweaks saw the contract value increase by 26% to SAR 71 mn. Jubail has secured a 5-year financing agreement for the project which is due to be completed in early August 2025, with construction work set to kick off on Sunday, 10 March. The project is expected to save Jubail SAR 27 mn in annual operational costs.

TECH-

Sure Global Tech secured a SAR 16.3 mn contract from the Commerce Ministry to develop systems aimed at tracking the movement of products and goods in the market, it said in a disclosure to Tadawul. The contract runs for 24 months.

STARTUP-

Startup accelerator Falak Investment Hub concluded with Standard Chartered Bank the second ‘SC Women In Tech Program’ cohort, Falak said in a post on X last week. The cohort saw nine female tech entrepreneurs completing an eight-week accelerator program, with top three finalists receiving grants of USD 50k.

EDUCATION-

The Education Ministry has joined the Global Partnership for Education (GPE)after signing a formal contribution agreement worth USD 38, a statement by the GPE read last week. The partnership will focus on supporting education in lower-income countries. The GPE “is the largest global fund solely dedicated to transforming education in lower-income countries,” according to its website.

UK companies push for higher CEO pay to rival the US

UK boards are increasingly boosting CEO pay to match those of their US counterparts in a bid to attract and retain top execs, the Financial Times reports.

Sign of the times: The trend signals a shift in attitude among UK executives, boards, and investors who were once reluctant to engage in salary wars. “When you look at standards for compensation around the world, the US is in a different place,” said London Stock Exchange Group CEO David Schwimmer. “And that is an issue companies competing on a global basis from a base in London need to take into account.”

Warning shots: Among CEOs leaving the UK in search of larger salaries stateside was Laxham Narasimham who left a USD 7.5 mn role at the UK’s Reckitt Benckiser in 2022 to head Starbucks in the US for USD 28 mn a year — a nearly 4x salary increase.

But understandably, not everyone is on board: “All increasing increasing executive pay is likely to do is increase the pay packages of some of the richest people, while doing nothing to tackle the fundamental issues underlying the UK’s economic woes,” a spokesperson for the thinktank High Pay Centre told the salmon-colored paper.

TASI	12,630.86	+0.2% (YTD: +5.5%)
MSCI Tadawul 30	1,623.68	+0.1% (YTD: +4.7%)
USD : SAR (SAMA)	3.75 Sell	3.75 Buy
Interest rates	6% repo	5.5% reverse repo
EGX30	28,964.41	+0.3% (YTD: +16.4%)
ADX	9,278.91	+0.3% (YTD: -3.1%)
DFM	4,356.61	+1.1% (YTD: 7.3%)
S&P 500	5,137.08	+0.8% (YTD: +7.7%)
FTSE 100	7,682.50	+0.7% (YTD: -0.7%)
Euro Stoxx 50	4,894.86	+0.4% (YTD: +8.3%)
Brent crude	USD 83.55	+2%
Natural gas (Nymex)	USD 1.84	-1.3%
Gold	USD 2,095.70	+2%
BTC	USD 62,060.50	-0.9% (YTD: +177.7%)

THE CLOSING BELL-

The TASI rose 0.2% yesterday on turnover of SAR 12.9 bn. The index is up 5.5% YTD.

In the green: Avalon Pharma (+29.9%), AlRajhi Takaful (+10%) and Sasco (+8.8%).

In the red: Petro Rabigh (-8%), AlBaha(-6.7%) and Riyadh Cables (-5.1%).

CORPORATE ACTIONS-

#1- ACWA Power’s board of directors has recommended a dividend payout of SAR 329 mn at SAR 0.45 apiece, it said in a disclosure to Tadawul last week.

#2- Umm Al Qura Cement Co’s board of directors has recommended withholding dividends for FY 2023 to help “support and strengthen the financial position of the company,” it said in a disclosure to Tadawul yesterday. The cement maker’s net income fell 82.8% y-o-y last year to SAR 4 mn from SAR 23 mn a year earlier.

CALENDAR

MARCH

4-6 March (Monday-Wednesday): International Conference on Sand and Dust Storms in the Arabian Peninsula, Riyadh.

4-7 March (Monday-Thursday): LEAP 2024, Riyadh.

10 or 11 March: First day of Ramadan (tbc based on sighting of the crescent moon).

11 March (Monday): Flag Day (national holiday)

APRIL

10 April (Wednesday): Eid al-Fitr (tbc based on the start date of Ramadan)

14-21 April (Sunday-Monday): IMF and World Bank spring meetings, Washington, DC

28-29 April (Sunday-Monday): World Economic Forum’s Special Meeting, Riyadh.

29 April-1 May: Future Hospitality Summit at Al Faisaliah Hotel, Riyadh.

MAY

19-21 May (Sunday-Tuesday): Saudi Energy Convention, Riyadh.

21-23 May (Tuesday-Thursday): The Saudi Food Show, Riyadh.

Signposted to happen sometime in May:

Global Trade Review (GTR): KSA
Saudi Energy Convention

JUNE

5 June (Wednesday): World Environment Day.

Signposted to happen sometime in June:

Eid Al-Adha (national holiday)

AUGUST

12-15 August (Monday-Thursday): The Saudi Food Expo, Riyadh

SEPTEMBER

11-12 September (Wednesday-Thursday): The Saudi Event Show, Riyadh.

23 September (Monday): National Day (national holiday)

DECEMBER

2-13 December (Monday-Friday): Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification, Riyadh.

Signposted to happen sometime in 2024:

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